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Yonhap News Summary

All Headlines 17:17 March 11, 2016

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

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Seoul needs more control over security to prevent nuke armament: scholars

SEOUL -- Growing calls for South Korea's nuclear armament should be addressed in the long-term by restoring Seoul's control over its security and diplomatic matters, two prominent American scholars said.

In a column contributed to the Wall Street Journal on Thursday, Brad Glosserman, executive director of the Pacific Forum, a program at the Center for Strategic and International Studies (CSIS), and David Santoro, senior fellow of the CSIS, made the claim, adding that Washington's key ally needs to be kept informed.

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Park's aide on cybersecurity quits following recent breaches

SEOUL -- The presidential secretary for cybersecurity has recently resigned, an official said Friday.

Shin In-seop had been in charge of cybersecurity at the presidential office of national security since last April.

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(LEAD) S. Korean stocks edge up on ECB steps

SEOUL -- South Korean shares inched up on Friday, led by gains in techs and automakers, as investors reacted positively to the European Central Bank (ECB)'s latest easing steps, analysts said. The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.08 points, or 0.11 percent, to finish at 1,971.41. Trading volume was slim at 299 million shares worth 4.12 trillion won (US$3.45 billion), with gainers beating losers 428 to 373.

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Chinese drone maker to open its first overseas flagship store in S. Korea

SEOUL -- China's drone manufacturer DJI will open its first overseas store in South Korea this weekend, a business move that targets one of the most active markets for contents provided by the aerial device.

The five-story DJI Flagship Store in western Seoul, opened to the press on Friday in an event that combined with the introduction of the company's most recent product, Phantom 4, will be launched officially on Saturday. The Chinese firm claims 70 percent of the world market for commercial and personal drones.

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POSCO to seek 1 tln-won cost reduction this year: chairman

SEOUL -- South Korea's steelmaking giant POSCO plans to cut its costs by 1 trillion won (US$838.1 million) this year as part of the ongoing efforts to enhance overall management efficiency, its head said Friday.

POSCO Chairman Kwon Oh-joon told investors at a shareholders' meeting in Seoul that the steelmaker will save about 520 billion won this year, while its other affiliates plan to lower their costs by around 500 billion won.

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S. Korea confirms additional FMD outbreak

SEJONG -- An additional outbreak of foot-and-mouth disease (FMD) has been confirmed in South Korea, rekindling concerns that the livestock disease may further spread widely, the government said Friday.

Pigs at a swine farm in Nonsan in the central region of South Chungcheong Province tested positive for the highly contagious disease that affects cloven-hoofed animals, according to the Ministry of Agriculture, Food and Rural Affairs.

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Top U.N. rights official says only 'comfort women' can decide on compensation

GENEVA -- A top United Nations official on human rights stressed Thursday that only the victims of wartime sexual slavery can determine if they have been properly compensated for the injustice they endured.

In his annual speech at the U.N. Human Rights Council on Thursday, High Commissioner Zeid Ra'ad Al Hussein said that despite South Korea and Japan reaching a deal in December, the former comfort women of Japan's sexual slavery are the ones who have the final say on the compensation issue.
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