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Yonhap News Summary

All Headlines 17:09 August 26, 2016

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

(Yonhap Interview) Kim Ran, the Korean 'art diplomat' in Argentina

JEJU ISLAND, South Korea -- Kim Ran left Korea for Argentina 30 years ago in what was meant to be a brief stay of a few months. The journey, however, took on a life of its own and gave her a second life in the country, a day's flight away from her homeland.

Having run a gallery and art institute, she co-founded Museo Kim Yun Shin in the capital city of Buenos Aires in 2008 with her professor and well-known artist Kim Yun-shin.

(LEAD) S. Korean stocks close lower on U.S. woes

SEOUL -- South Korean shares closed lower Friday as investors took to the sidelines amid growing concerns over a U.S. rate hike. The local currency further gained ground against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 5.42 points, or 0.27 percent, to 2,037.50. Trading volume was slim at 268.85 million shares worth 3.69 trillion won (US$3.31 billion), with losers outnumbering gainers 431 to 367.

S. Korean conference provides insight into AR, VR technologies

SEOUL -- The cultural academy of the Korea Creative Content Agency (KOCCA) on Friday opened a conference to provide insight into global trends and the future of virtual reality (VR) and augmented reality (AR).

The one-day conference in Seoul titled "The VR, AR Insight" brought together local and international experts on the two innovative technological fields.

N. Koreans' defections point to growing insecurity in N.K.: Seoul

SEOUL -- South Korea on Friday said defections by North Korean officials indicate that internal insecurity has increased in the communist country as the reclusive country's leader Kim Jong-un is strengthening his iron-fisted rule.

Seoul's unification ministry said that a series of defections by North Koreans are taking place at a time when Kim is beefing up his reign of terror and tightening crackdowns on people.

S. Korea to attend senior officials meeting ahead of APEC summit

SEOUL -- A preparatory meeting of senior officials will be held in Lima this week ahead of the summit gathering of the Asia Pacific Economic Cooperation (APEC), the foreign ministry said Friday.

A South Korean delegation led by Lee Tae-ho, deputy foreign minister for economic affairs, will attend the senior-level meeting set from Saturday to Sunday in the capital of Peru, the ministry said.

Creditors to decide fate of Hanjin Shipping by Tuesday

SEOUL -- Creditors of cash-strapped Hanjin Shipping Co. plan to decide whether to put the country's No.1 shipper under receivership by Tuesday, as a new self-rescue scheme falls short of expectations, its main creditor said Friday.

On Thursday, Hanjin Shipping, under growing pressure from its creditors to secure more money to tide over a deepening cash shortage, submitted a stronger self-rescue plan. The new scheme includes sales of more assets and a capital infusion by its major shareholders.

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