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Yonhap News Summary

All News 13:30 September 05, 2016

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

(4th LD) Park calls N.K. provocations challenge to Seoul-Beijing ties

HANGZHOU, China -- President Park Geun-hye on Monday called North Korea's continued provocations a challenge to relations between South Korea and China, voicing her hope for Seoul and Beijing to turn the situation into an opportunity to further strengthen their bilateral relationship.

She made the remarks during her summit with Chinese President Xi Jinping on the sidelines of the summit of the Group of 20 (G-20) advanced and emerging economies in China's eastern lakeside city of Hangzhou.

(LEAD) Gov't urges Hanjin Group to be 'responsible' for crippled cargo shipments

SEOUL -- South Korea's top financial regulator pressed the Hanjin Group on Monday to take full responsibility for the delivery of cargo under existing contracts signed by its affiliate Hanjin Shipping.

The nation's leading container shipping line filed for court receivership last week, succumbing to mounting debts amid an industry-wide slump. Many of the company's operations have since been crippled, with a number of foreign ports denying entry to Hanjin's ships.

Parliamentary speaker expresses regret over extra budget passage delay

SEOUL-- South Korea's parliamentary speaker on Monday said he "fully accepts" criticism made by ruling party lawmakers on his remark made on the deployment of a U.S. antimissile defense system, which resulted in the delay of an extra budget bill.

"There have been many criticisms from ruling party lawmakers on my opening speech (made last week)," National Assembly Speaker Chung Sye-kyun said. "I would like to say that I accept such remarks."

Lotte executive summoned over group's corruption allegations

SEOUL -- A senior executive of retail giant Lotte was summoned Monday as prosecutors accelerated their investigation into the embattled conglomerate after one of its executives was found dead in an apparent suicide late last month.

So Jin-sei, a close aide of the group chairman Shin Dong-bin and executive in charge of external affairs, was called in by the Seoul Central District Prosecutors' Office as a suspect on charges of breach of trust.

S. Korean stocks up in late Monday morning

SEOUL -- South Korean stocks advanced late Monday morning, led by gains in techs and autos, on eased concerns over an imminent rate hike in the United States.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.58 points, or 0.91 percent, to 2,056.89 as of 11:20 a.m.

Data by the U.S. Labor Department showed that U.S. payrolls climbed by 151,000 last month following a 275,000 gain in July, lower than an expected addition of some 180,000 jobs, sapping speculations that the U.S. Fed may raise its interest rates soon any time, probably this month.

BOK to use automated data collection for economic forecasts

SEOUL -- The Bank of Korea (BOK) will use an automated system to collect, save and update raw data on exports, imports, output and other economic indicators to help it better project how the nation's economy would perform in coming months, a bank official said Monday.

So far, BOK officials have put raw data into the bank's database by hand. A computer-assisted data collection system is expected to help the BOK save time in collecting and saving data.

(LEAD) N.K. condemns S. Korean law on Pyongyang's human rights

SEOUL -- North Korea's propaganda websites on Monday condemned South Korea for implementing a new law aimed at improving Pyongyang's dismal human rights record.

The North's propaganda website Uriminjokkiri said that South Korea is not entitled to take issue with North Korea's human rights situation, saying that the implementation of the law is a "sinister" move to undermine Pyongyang's dignity.


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