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Yonhap News Summary

All News 17:00 July 22, 2016

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

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(LEAD) Park reiterates commitment to supporting midsize enterprises

SEOUL -- President Park Geun-hye on Friday reiterated her commitment to supporting midsize enterprises, saying her government will spare "no efforts" to build them up as key growth driver for Asia's fourth largest economy.

During a luncheon meeting with the chiefs of some 140 midsize companies, Park also said that the government will continue to address "unreasonable problems" confronting local businesses, such as excessive regulations cited for undermining competitiveness.

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(LEAD) S. Korea outlines 11 tln won extra budget plan to prop up economy

SEJONG -- South Korea on Friday outlined an 11 trillion won (US$9.64 billion) extra budget plan designed to prop up its economy facing sluggish exports and a possible fallout from corporate restructuring in key industries.

It is part of the government's 28 trillion won economic stimulus package aimed at helping Asia's fourth-largest economy achieve 2.8 percent growth this year, which was downgraded last month from an earlier 3.1 percent.

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Seoul condemns Pyongyang's attack on Park's anti-nuke remarks during Mongolia trip

SEOUL -- South Korea on Friday condemned Pyongyang's recent attack on President Park Geun-hye's anti-North Korean remarks made during the recent Asia-Europe summit in Mongolia.

In the 11th Asia-Europe Meeting (ASEM) held in Ulaanbaatar from Friday to Saturday, Park called for "denuclearization" of the North, "right changes" in the communist country and "enforcement of sanctions measures" against it.

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Hana Financial's net jumps 5.5 pct in H1

SEOUL -- Hana Financial Group Inc., a top South Korean banking group, said Friday its net profit soared 5.5 percent on-year to 790 billion won (US$700 million) in the first half of this year, beating market forecasts.

The group's second-quarter net profit also jumped 6.5 percent to 352.1 billion won from the first three months in an earnings surprise.

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(LEAD) S. Korean city Ansan to launch new pro football club

SEOUL -- South Korean city Ansan will launch a new pro football club, expanding the number of teams in the country's pro football league to 24, officials said Friday.

In addition, an existing football team based in Ansan, Gyeonggi Province, will relocate to Asan, South Chungcheong Province.

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Chinese fans buy up BigBang's concert tickets in 9 min

SEOUL -- Chinese fans bought up tickets for a special concert by South Korean idol group BigBang in less than 10 minutes, ready to surge to the peninsular country next month, the band's agency said on Friday.

The tickets for "BigBang10 The Concert: 0.TO.10," a celebratory concert for the five-member K-pop group's 10th anniversary, sold out only nine minutes after the sales began, according to BigBang's management agency YG Entertainment. The ticket sales started at 11 a.m. on Monday by Chinese online and mobile ticket box office platform Xiaoge Entertainment.

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Prosecutors suspend execution of CJ chief's jail term

SEOUL -- Prosecutors said Friday they have accepted a request from the chairman of the food and entertainment conglomerate CJ Group to suspend the execution of his 30-month jail term for hospital treatment.

The Seoul Central District Prosecutors' Office decided to suspend the sentence for Lee Jay-hyun for three months.

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(LEAD) Nuclear reactor in S. Korea stops operations

SEOUL -- A nuclear reactor at South Korea's power plant stopped operations Friday due to malfunctions in its safety-related system, plant operators said.

The Wolseong-1 reactor at the plant, located in Gyeongju, about 400 km southeast of Seoul, came to a halt at around 11:24 a.m. according to the Korea Hydro and Nuclear Power Co.

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Gov't bolsters countermeasures to deter N.K. cyberattacks

SEOUL -- South Korea is beefing up its governmentwide countermeasures to prevent possible cyberattacks by North Korea, officials said Friday.

The Ministry of Science, ICT and Future Planning said the number of cyberattacks by North Korea more than doubled in the first half of this year.

The cyberattacks "are judged as a part of North Korean provocations to trigger public anxiety" in South Korea, the ministry said.

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S. Korean finance minister to attend G-20 meeting in China

SEJONG -- South Korea's finance minister will attend the Group of 20 meeting for top economic policymakers in China later this week to discuss global policy coordination amid increased market volatility and toughened economic conditions sparked by the British vote to exit the European Union, the finance ministry said Friday.

Finance Minister Yoo Il-ho, who doubles as the deputy prime minister for economic affairs, will attend the G-20 Finance Ministers and Central Bank Governors meeting to be held in Chengdu, China, on Saturday and Sunday, according to the Ministry of Strategy and Finance.
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