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Yonhap News Summary

All News 13:30 June 13, 2016

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

(2nd LD) Park calls for parliamentary support to pressure N.K. over nuke program

SEOUL -- President Park Geun-hye on Monday urged for parliamentary support to pressure North Korea into renouncing its nuclear ambitions and breaking out of international isolation, stressing that Pyongyang's nuclear program poses a "fundamental" hurdle to enhancing cross-border relations.

During her speech marking the launch of the newly elected National Assembly, Park also criticized Pyongyang's recent overtures for dialogue, casting them as a "deceitful" tactic and expressing concerns that they would blunt international momentum to press it to move towards denuclearization.

N.K. leader vows nuke development during visit to defense university

SEOUL -- North Korea's leader Kim Jong-un has reaffirmed his intent to stick to nuclear weapons when making his first military-related public activity since the party congress in May, the North's state media showed Monday.

Kim conducted the so-called field guidance at National Defense University, which the communist country says contributes to its defense industry, according to the North's official Korean Central News Agency (KCNA). It did not specify the date of his visit.

Carmakers intensify competition in plug-in hybrid car sector

SEOUL -- Kia Motors Corp., South Korea's second-largest carmaker, said Monday it plans to roll out a plug-in hybrid version of its K5 midsize sedan next month, the latest in a series of moves by carmakers to jostle for a position in the country's nascent market for eco-friendly vehicles.

The vehicle, debuted at the Busan International Motor Show earlier this month, can travel up to 44 kilometers in electric mode. When the battery runs out, the vehicle can be switched to hybrid mode.

Creditors urge Daewoo Shipbuilding workers not to sit down

SEOUL -- Creditors of Daewoo Shipbuilding & Marine Engineering Co. on Monday urged the embattled shipbuilder's workers to refrain from going on strike, saying that a potential walkout would deter the ongoing efforts to salvage the financially shaky firm, industry sources said.

According to the sources, some 7,000 unionized workers at Daewoo Shipbuilding are scheduled to vote on whether or not they will launch a strike, claiming that the shipbuilder's restructuring schemes submitted to its creditors only calls for the workers' pain-sharing.

Certificate of origin issuance hikes for exports to China

SEOUL -- The Korea Chamber of Commerce and Industry (KCCI) said Monday its issuance of certificates of origin (C/O) has sharply risen for local export items bound for China.

A total of 31,488 certificates of origin were issued by the end of May for tariff cuts under a free trade agreement (FTA) with China, according to the chamber.

Prosecutors summon executive of Volkswagen Korea over emissions scandal

SEOUL -- Prosecutors summoned an executive of the local unit of Volkswagen on Monday over their widening probe into the German carmaker's alleged irregularities that came into light following its emissions scandal.

The Seoul Central District Prosecutors' Office summoned the executive in charge of the certification process, identified only by his surname Yoon, for questioning to gain a reference. Prosecutors said his status can change to that of a suspect following the investigation, if necessary.

Foreigners shed S. Korean stocks in May for profit-taking

SEOUL -- Foreign investors turned to net sellers of South Korean stocks last month to lock in recent gains, the country's financial watchdog said Monday.

Foreigners sold a net 142 billion won (US$120 million) worth of local stocks in May, the Financial Supervisory Service (FSS) said in a statement.

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