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Yonhap News Summary

All Headlines 13:30 September 06, 2016

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

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(2nd LD) N.K. leader observes missile launches, calls for stronger nuke force

SEOUL -- North Korean leader Kim Jong-un observed the latest launches of ballistic missiles and stressed the need to bolster the country's nuclear force, the state-run media said Tuesday.

The North's leader was present for the test-firing of ballistic rockets by artillery units of the Korean People's Army (KPA), according to the Korean Central News Agency (KCNA).

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(2nd LD) U.S. strongly condemns N. Korea's missile barrage

WASHINGTON -- The United States on Monday strongly condemned a barrage of missile launches from North Korea as a violation of U.N. Security Council resolutions, vowing to raise the issue at the United Nations and an upcoming regional summit in Laos.

The North fired three Rodong medium-range missiles off its east coast earlier Monday. The missiles flew about 1,000 km and landed in waters some 400 km inside Japan's air defense identification zone, according to South Korea's military.

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U.N. Security Council to meet Tuesday over N. Korean missile launches

NEW YORK -- The U.N. Security Council will meet Tuesday to discuss a barrage of ballistic missile launches that North Korea carried out in violation of a series of U.N. resolutions, diplomatic sources said.

The meeting has been set up at the request of South Korea, the U.S. and Japan, the sources said. It comes only 10 days after the Security Council adopted a press statement condemning the North's launch of a ballistic missile from a submarine.

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(LEAD) Park, Obama to hold summit amid N.K. provocations

HANGZHOU, China -- President Park Geun-hye on Tuesday will hold a summit with her U.S. counterpart Barack Obama in Vientiane to discuss an array of issues, including North Korea's continued provocations, her office Cheong Wa Dae said.

The summit will be held in the afternoon -- hours after Park arrives in the Laotian capital to attend a series of summits with the leaders of the 10-member Association of Southeast Asian Nations (ASEAN), Cheong Wa Dae said.

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Seoul mayor says he's mulling presidency

SEOUL -- Seoul Mayor Park Won-soon on Tuesday said he is considering running in next year's presidential election, adding there must be a change in the regime in order to overcome the economic and security challenges.

"Next year's presidential race is very important. There must be a change in power," Park said during a meeting with the Korean-American community in New York.

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Finance minister urges Hanjin to take responsibility for logistics crisis

HANGZHOU, China -- South Korea's finance minister on Tuesday called on Hanjin Group to take responsibility for a worldwide paralysis of maritime cargo delivery stemming from court receivership of its debt-laden shipping unit.

The receivership of Hanjin Shipping Co., South Korea's largest shipper, has triggered snowballing logistic chaos across the world over the last few days, with more than 60 carriers having been stranded at sea and ports due to asset seizure requests by creditors.

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S. Korea's beer exports hit record high last year

SEJONG -- Outbound shipments of South Korean beer hit a record high last year on the back of its popularity in Asian and other countries, government data showed Tuesday.

The data compiled by the Korea Customs Service showed that exports of South Korean beer reached US$84.4 million in 2015, up 15.4 percent from a year earlier.

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S. Korea ups 2017 defense budget by 4 pct

SEOUL -- South Korea has increased its defense budget for next year by 4 percent as it moves to beef up missile defense capabilities amid growing threats from North Korea, the defense ministry said Tuesday.

The government has allocated a total of 40.335 trillion won (US$36.5 billion) to bolstering the country's defensive capabilities in 2017, up from 38.799 trillion won set for this year, the Ministry of National Defense said in a statement.

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Gov't, ruling party open to providing 100 bln won to Hanjin Shipping

SEOUL -- The South Korean government and the ruling Saenuri Party on Tuesday agreed to possibly provide financially troubled Hanjin Shipping Co. with a long-term loan worth 100 billion won (US$90 million), amid the mounting uncertainties about the future of the country's logistics industry.

The move came as the world's seventh-largest shipper was put under receivership last week.

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(LEAD) Hanjin Group mulls 100 bln won to ease cargo chaos

SEOUL -- Hanjin Group, the parent for cash-strapped shipper Hanjin Shipping Co., said Tuesday that it plans to provide some 100 billion won, including 40 billion won of group chairman Cho Yang-ho's private assets, to its ailing shipping affiliate to ease deepening shipping chaos triggered by the near collapse of the country's No. 1 container shipping line.

The hastily drawn-up measure came as the conglomerate came under fire for worldwide cargo disruptions caused after the world's seventh-largest container shipping firm filed for court protection in South Korea last week.

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