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Yonhap News Summary

All News 12:49 March 03, 2016

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

(LEAD) N. Korea fires six short-range projectiles into East Sea

SEOUL -- North Korea fired six short-range projectiles into the East Sea on Thursday, apparently in anger over the United Nations' adoption of its harshest-ever resolution punishing Pyongyang for its recent nuclear and long-range rocket tests, officials said.

The projectiles were fired from Wonsan, a port city along the east coast, at around 10:00 a.m. They fell into the East Sea, according to Defense Ministry spokesman Moon Sang-gyun and military officials.

(4th LD) U.N. Security Council unanimously adopts harshest-ever sanctions on North Korea

WASHINGTON/NEW YORK -- The U.N. Security Council adopted the harshest-ever sanctions on North Korea on Wednesday, punishing Pyongyang for its defiant nuclear and missile tests and seeking to put curbs on the weapons programs through what could amount to a land, sea and air blockade designed to dry up key revenue sources.

The 15-member council unanimously adopted Resolution 2270, significantly tightening the screws on the communist nation that sparked global outrage with its fourth nuclear test on Jan. 6 and its long-range missile launch on Feb. 7 in violation of U.N. bans.

(2nd LD) Consumer price growth hits over 1 pct in Feb.

SEJONG -- South Korea's consumer prices grew by more than 1 percent in February for the first time in two months on a rise in prices of public services and agricultural products, government data showed Thursday.

The country's consumer price index rose 1.3 percent last month from a year earlier, accelerating from January's 0.8 percent on-year gain, according to the report by Statistics Korea.

Growth in corporate lending slows in Q4

SEOUL -- The rise in loans extended to South Korea's local firms slowed in the fourth quarter with borrowings by those in the manufacturing and construction sectors shrinking from three months earlier, central bank data showed Thursday.

Corporate lending by banks and non-bank financial institutions came to 943.3 trillion won (US$771 billion) at the end of 2015, up 11.2 trillion won, or 1.2 percent, from three months earlier, according to preliminary data from the Bank of Korea (BOK).

Volkswagen to recall emissions-faked cars in late April

SEOUL -- Volkswagen and its luxury brand Audi plan to start the recall process for their emissions-faked vehicles sold in South Korea in late April following a delay caused by the Seoul government rejecting the companies' measures to fix the problem for being insufficient, industry sources said Thursday.

The two German carmakers recently submitted their recall plans to the environment ministry for around 125,000 vehicles equipped with what are called deceit devices designed to manipulate emissions results.


(Yonhap Interview) Egyptian president calls on S. Korea to help combat terrorism

SEOUL -- South Korean firms could help the global fight against terrorism by hiring more young people in Egypt with the potential to resort to extremism due to a lack of jobs, the Egyptian president said.

President Abdel Fattah el-Sisi expressed high hopes for his official visit to Seoul, the first by an Egyptian leader since Hosni Mubarak in 1999, saying his country offers favorable conditions and opportunities for South Korean companies.

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