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Yonhap News Summary

All News 17:30 July 26, 2016

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

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(2nd LD) Regional security forum to kick off with NK nuke likely to dominate agenda

VIENTIANE -- Top diplomats from nearly 30 Asia-Pacific countries and regional powers will meet Tuesday to discuss regional security issues such as North Korea's nuclear weapons program.

The ASEAN Regional Forum (ARF), the largest regional security gathering, will be attended by foreign ministers from the 10 members of the Association of Southeast Asian Nations (ASEAN) and top officials from other parts of Asia, North America, Europe and Oceania.

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Shinhan Bank offers flexible working arrangements for employees

SEOUL -- Shinhan Bank, the flagship unit of South Korea's Shinhan Financial Group Co., said Tuesday that it has introduced flexible working arrangements for its employees, a move that could help them juggle work and family life.

The bank said all employees -- who can work without accessing the bank's computer network -- are eligible to work at home.

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Gov't says it will test THAAD radar waves again to allay health concerns

SEOUL -- South Korea will again check the electromagnetic waves coming from the powerful radar used in the advanced U.S. anti-missile system to help allay fears about the health risks associated with the equipment, the defense ministry said Tuesday.

The move comes after the Ministry of National Defense carried out a test on electromagnetic waves generated from the X-band radar system used on the Terminal High-Altitude Area Defense (THAAD) system stationed in Guam on July 18.

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S. Korean football chief withdraws from election for FIFA body

SEOUL -- South Korean football chief Chung Mong-gyu has pulled out of the election for a seat on FIFA's main decision-making body, the sport's national federation said Tuesday.

Korea Football Association (KFA) President Chung has informed the international football governing body that he will no longer pursue a seat on the FIFA Council.

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(LEAD) Hyundai Motor Q2 net shrinks 1.5 pct on weak global demand

SEOUL -- South Korea's leading automaker Hyundai Motor Co. on Tuesday said its net income dropped slightly from a year earlier in the second quarter on a dip in exports and profitability.

Net profit came to 1.76 trillion won (US$1.55 billion) in the April-June period, down 1.5 percent from the same period last year, the company said in a regulatory filing.

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(LEAD) Seoul shares rise to yearly high on tech gains

SEOUL -- South Korean shares closed at their highest level this year on Tuesday as investors snapped up major tech shares, helped by foreigners loading for a 14th consecutive session. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 15.02 points, or 0.75 percent, to close at 2,027.34. Trade volume was slim at 332.2 million shares worth 3.92 trillion won (US$3.45 billion), with winners outnumbering losers 474 to 320.
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