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Yonhap News Summary

All News 17:23 February 29, 2016

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

China: Envoy voices opposition to U.S. shield in S. Korea

BEIJING -- China's chief nuclear envoy, Wu Dawei, has voiced the country's opposition to the possible deployment of an advanced U.S. missile defense system in South Korea during his meetings with Seoul officials, China's foreign ministry said Monday.

Wu, who arrive in South Korea on Sunday, expressed his "solemn position" on the possible deployment of the U.S. missile shield, the Terminal High Altitude Area Defense (THAAD) battery, in South Korea, China's foreign ministry spokesman Hong Lei told reporters.

(LEAD) U.S. to use all possible defense capabilities to safeguard S. Korea: Seoul

SEOUL -- The United States is committed to using the full range of its defense capabilities to safeguard South Korea in the event of war with North Korea, a defense ministry official here said Monday after attending a joint defense exercise in California.

The allies held their annual anti-nuclear joint exercise at Vandenberg Air Force Base last week where some 40 defense officials from the two countries discussed warfare strategies to counter North Korea's nuclear and weapons of mass destruction threats.

(LEAD) E-land's hypermarket sale boils down to three-way race

SEOUL, Feb. 29 (Yonhap) -- The sale of Kim's Club, a hypermarket chain of South Korean fashion and retail conglomerate E-land Group, has drawn proposals from three bidders, with a preferred bidder to be selected next month, industry sources said Monday.

Kim's Club, the nation's fourth-largest supermarket chain with 37 outlets, was put up for sale in November as E-land decided to reduce debt and focus on its fashion and restaurant franchise business.

Deputy foreign minister named S. Korea's top nuclear envoy

SEOUL -- Deputy Foreign Minister Kim Hong-kyun was named on Monday South Korea's chief envoy handling the North Korean nuclear issue, the ministry said.

Kim replaces Hwang Joon-kook as special representative for Korean Peninsula peace and security affairs, who serves as Seoul's top envoy to the now-stalled six-party talks on North Korea's denuclearization.

POSCO Energy pushes to build off-gas plant in Iran

SEOUL -- POSCO Energy Co., a unit of South Korea's top steelmaker POSCO, said Monday it has signed a memorandum of understanding with Iranian steelmaker PKP to build an off-gas power plant in the Middle Eastern country.

POSCO Energy signed the preliminary deal to build the 500-megawatt power plant that uses byproducts from the steel making process in Iran's Chabahar free economic zone.

(LEAD) N. Korea says detained U.S. student has confessed to 'severe' crime

SEOUL -- A U.S. college student detained in North Korea has confessed to his "severe" crime of stealing a political sign from a hotel there and has asked for forgiveness, the North's state media said Monday.

Otto Frederick Warmbier, a student at the University of Virginia, was questioned by North Korean officials after being caught committing what Pyongyang's media called an anti-North Korea activity.

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