Yonhap News Summary

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

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(LEAD) 5 Chinese fishermen rescued from capsized boat
(ATTN: UPDATES with one died after being rescued)

SHINAN -- Five Chinese fishermen have been rescued from their boat that capsized in the waters off South Korea's southwestern coast Wednesday, while one died and four others went missing, the coast guard said.

Four fishermen were picked up by another nearby Chinese fishing boat about 85 kilometers northwest of Gageo Island.

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Chinese couple arrested for illegal immigration

SEOUL -- Two Chinese nationals were arrested on Wednesday on charges of violating South Korea's immigration control law as they illegally sneaked into the country last week.

Their apprehension was made hours after the Korea Immigration Service earlier in the day requested an arrest warrant from the Incheon District Court over their illegal entry into South Korea after breaking into the security control at the nation's largest airport.

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(LEAD) Seoul shares soar 1.4 pct on oil, Fed hopes
(ATTN: ADDS bond yields at bottom)

SEOUL -- South Korean stocks rallied 1.4 percent Wednesday as investors hunted for bargains on a recovery in oil prices and hopes for a relief message from the U.S. central bank. The local currency closed higher against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 26.18 points to end at 1,897.87. Trade volume was moderate at 345.5 million shares worth 4.99 trillion won (US$4.15 billion), with winners beating losers 478 to 346.

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Opposition party chief quits after internal feud

SEOUL -- The head of the main opposition party quit his post on Wednesday and handed over the top job to a key architect behind President Park Geun-hye's campaign pledge of economic democracy.

"I am sorry for causing concerns and disappointment to the people," Moon Jae-in said in a party meeting.

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(LEAD) Xiaomi begins offline sales of smartphones in S. Korea
(ATTN: ADDS details in para 4)

SEOUL -- Chinese tech giant Xiaomi Inc. has started selling its smartphones in South Korea through local dollar-shop chain Daiso, industry sources said Wednesday, marking the first time for its mobile devices to be sold at offline stores here.

The Xiaomi Redmi 3 and Redmi Note 3 carry a price tag of 99,000 won (US$82.34) and 129,000 won, respectively, through vending machines installed at Daiso stores.

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Hyundai Steel 2015 net down 5.5 pct on industrywide slump

SEOUL -- Hyundai Steel Co., South Korea's No. 2 steelmaker, said Wednesday that its earnings dipped 5.5 percent last year from a year earlier due to an industrywide slump amid a slowdown in China and other major economies.

Net profit reached 739 billion won (US$615 million) on a consolidated basis last year, the company said in a statement.

(END)