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Yonhap News Summary

All News 13:30 June 14, 2016

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

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U.S., S. Korea, Japan hold trilateral talks on Middle East

WASHINGTON -- Senior diplomats from the United States, South Korea and Japan held talks in Washington on Monday about increasing cooperation in issues related to the Middle East and North Africa, the State Department said.

The trilateral dialogue "provided an important opportunity for the three governments to exchange views and coordinate policy, as well as to explore opportunities to deepen cooperation in the region," the department said in a statement without providing further specifics.

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Park expresses deep condolences over Florida shooting victims

SEOUL -- President Park Geun-hye on Tuesday expressed her "deep" condolences to the victims of the recent shooting rampage in Florida and their families, noting that acts of terrorism cannot be justified for any reason.

In a letter to U.S. President Barack Obama, Park said that "South Korea will be with the U.S." in the process of overcoming the shock and sorrow caused by the deadly incident that killed at least 50 people.

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Seoul all out to rejoin MSCI's developed-market review list

SEOUL -- South Korea is sparing no effort to put its stock market back on global index provider MSCI's review list of developed market index candidates, which could help lure more foreign investment, financial officials said Tuesday.

The Geneva-based MSCI, or Morgan Stanley Capital International, is scheduled to announce its review results for candidates on Wednesday. It categorizes 78 countries into three benchmark indices -- developed, emerging and frontier markets.

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Hanjin Shipping in struggle to cut charter rates

SEOUL -- Embattled Hanjin Shipping Co. is striving to win the hearts of the owners of its chartered fleet to cut charter rates, one of the key conditions set by its creditors to avert court receivership, industry sources said Tuesday.

According to the sources, Hanjin Shipping, South Korea's No. 1 container shipping line, has been in talks with the owners of chartered ships since April of this year, but reported little progress in their negotiations.

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Korean institutions bought W8 tln of offshore properties in 2015

SEOUL -- South Korean institutions invested more than 8 trillion won (US$6.8 billion) in overseas properties last year as they sought stable investment gains away from low growth and rates at home, a global real estate consultancy said Tuesday.

In 2015, institutional investors spent a combined 8.27 trillion won on stakes in real estate outside the country, up sharply from 327.6 billion won in 2007, according to CBRE Korea, the Korean operations of Los Angeles real estate services firm CBRE Group Inc.

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S. Korean shares down in late morning trading

SEOUL -- South Korean shares traded lower late Tuesday morning as investors joined the global sell-off ahead of major economic and political events in the United States and Europe.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 7.2 points, or 0.36 percent, to 1,971.86 as of 11:20 a.m.
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