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Yonhap News Summary

All News 17:08 January 21, 2016

The following is the second summary of major stories moved by Yonhap News Agency on Thursday.

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(LEAD) BOK says S. Korea's foreign reserves adequate

SEOUL -- South Korea's central bank said Thursday the country has enough foreign reserves to deal with any sudden changes in the global financial market.

The state-run Korea Economic Research Institute pointed out the country's foreign reserves may not be adequate enough to deal with a crisis, while a Japanese daily also cited the lack of current assets as a potential problem.

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(2nd LD) Park vows to push for effective measures against N. Korea

SEOUL -- President Park Geun-hye said Thursday that South Korea will push for effective possible means to make North Korea pay a price for its nuclear test earlier this month.

She did not elaborate on what she meant by effective possible means. South Korea has resumed anti-Pyongyang broadcasts as part of its punishment against North Korea for its nuclear test.

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(LEAD) S. Korea poised to support firms wanting to enter Iran

SEOUL -- South Korea will provide financial and production-related support to local companies wanting to enter the Iranian market that has considerable growth potential, the government said Thursday.

At the meeting of economy-related ministers in Seoul, the Ministry of Trade, Industry and Energy said that it has come up with a plan to help South Korean companies do business in the oil-rich country following the landmark nuclear accord that lifted international sanctions.

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(LEAD) Seoul shares edge down on foreign selling

SEOUL -- South Korean stocks closed slightly lower Thursday as overseas investors continued their selling spree. The local currency closed a tad higher against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) slid 4.92 points, or 0.27 percent, to end at 1,840.53 after trading almost flat throughout the afternoon session. Trade volume was high at 422.4 million shares worth 4.73 trillion won (US$3.89 billion), with losers beating winners 463 to 363.

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(LEAD) S. Korea puts KF-X fighter jet project in full swing

SEOUL -- South Korea officially kicked off its multibillion-dollar project Thursday to produce homemade fighter jets over the next decade.

Under the Korean Fighter Experimental (KF-X) project by the Defense Acquisition Program Administration, contractor airplane maker Korea Aerospace Industries Ltd. (KAI) will come up with six units of a homegrown prototype fighter by 2021.

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