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Yonhap News Summary

All News 17:00 March 03, 2016

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

(2nd LD) 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.

China urges restraint as N. Korea fires short-range projectiles

BEIJING -- China called for calm and restraint on Thursday as North Korea fired short-range projectiles into the sea, in an apparent show of defiance hours after the U.N. Security Council approved tougher sanctions over its fourth nuclear test and rocket launch.

"We hope that relevant parties can keep calm, exercise restraint and refrain from taking actions that may escalate tensions," China's foreign ministry spokesman Hong Lei said.

(LEAD) S. Korea, Egypt agree on infrastructure investment

SEOUL -- South Korea and Egypt agreed Thursday to beef up cooperation in infrastructure development worth US$3.6 billion, paving the way for Seoul to make inroads into the fast-growing North African country.

President Park Geun-hye and her Egyptian counterpart, Abdel Fattah el-Sisi, reached an agreement at a summit here, Cheong Wa Dae said.

(LEAD) S. Korea mulling over whether to pursue logistics project with N. Korea, Russia

SEOUL -- South Korea said Thursday it is reviewing whether it should move forward with a trilateral logistics project involving the two Koreas and Russia, as Seoul is poised to slap its own sanctions on North Korea.

The so-called Rajin-Khasan logistics project calls for the shipment of Russian coal into South Korea through the North Korean port city of Rajin. Since late 2014, South Korean firms involved in the project have conducted three test operations.

(LEAD) S. Korean stocks up 0.55 pct on foreign buying binge

SEOUL -- South Korean shares advanced 0.55 percent Thursday as foreign investors scooped up undervalued shares amid stabilized global oil prices and financial markets, analysts said. The local currency sharply rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) moved up 10.75 points to finish at 1,958.17. Trading volume was moderate at 417.5 million shares worth 4.9 trillion won (US$4 billion), with gainers beating losers 517 to 292.

Teacher's suicide after ferry disaster not death on duty: top court

SEOUL -- The nation's top court dismissed an appeal filed by the bereaved family of a former vice principal of a local high school, who committed suicide after many of his students died in a ferry disaster in 2014, court records showed Thursday.

The 6,825-ton ferry Sewol sank in waters off the country's southwestern coast and left 304 people dead. Most of the deaths involved high school students on a field trip to Jeju Island.

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