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Yonhap News Summary

All Headlines 17:00 October 06, 2016

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

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S. Korea, U.S. share the no-dialogue approach over N. Korean nukes: Seoul

SEOUL -- South Korea and the U.S. both agree dialogue with North Korea is not an effective tool to denuclearize the communist country, the foreign ministry here said Thursday, ruling out any possibility of talks with Pyongyang.

"In addition to its series of nuclear tests and ballistic missile launches, North Korea has declared on various occasions that nuclear armament is its national policy and vowed to step up its nuclear weapons program," Cho June-hyuck, spokesman at the Ministry of Foreign Affairs, said in a press briefing. "Through such remarks, it made clear that the country is not considering denuclearization."

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Number of one-person households in S. Korea hits 7.39 mln mark

SEOUL -- The number of single-person households in South Korea reached 7.39 million as of last month making it the single largest family type in the country, the government said Thursday.

According to the data released by the Ministry of the Interior, the single-member households accounted for the largest portion of all 21,214,428 households in the country, accounting for 34.8 percent of the total as of September.

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(2nd LD) UNSC mulls ways to plug loopholes in sanctions on N.K.: source

SEOUL -- The U.N. Security Council (UNSC) is considering ways to cover the "loopholes" in its sanctions imposed on North Korea by reducing exemptions which were aimed at safeguarding the livelihood of its people, a diplomatic source said Thursday.

The UNSC is working on a fresh resolution to punish the North for conducting its fifth nuclear test earlier last month. Washington and Beijing have been leading the negotiations with the new resolution expected to focus mostly on covering the loopholes through which the North is suspected of getting its hands on money needed for its nuclear program.

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(2nd LD) Park voices frustration at resistance to labor reform

SEOUL -- President Park Geun-hye on Thursday voiced frustration at workers' unceasing resistance to her government's push for labor reform, reiterating the need to revamp the "rigid" labor market.

Park's remarks followed a string of strikes by unionized workers in the public and financial sectors, as well as other businesses, who have railed against the government's drive to expand a performance-based salary system and the ongoing restructuring of major industries.

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Cardinals' closer not named to provisional WBC roster

SEOUL -- The St. Louis Cardinals' closer Oh Seung-hwan was conspicuous by his absence on the provisional World Baseball Classic (WBC) roster for South Korea on Thursday.

The Korea Baseball Organization (KBO) announced its 50-man provisional roster for the 2017 WBC. It included five major league players, but Oh wasn't among them.

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Hyundai Motor to supply 3,500 i40 taxis to Singapore

SEOUL -- South Korea's top automaker Hyundai Motor Co. said Thursday that it has signed a deal with a taxi service company in Singapore to supply up to 3,500 i40 vehicles by the end of next year.

The latest deal signed with Singapore's ComfortDelgro Corp. marks the largest of its kind since the South Korean carmaker began supplying taxis to the Singaporean firm in 2007, Hyundai Motor said.

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(LEAD) Samsung to 'carefully consider' proposal by Elliott

SEOUL -- Samsung Electronics Co. said Thursday it will "carefully consider" a proposal by U.S. hedge fund Elliott Management that urged the South Korean tech giant to split into two companies to increase the value of shareholders.

Elliott, which fought in 2015 against a merger of two Samsung affiliates but lost, urged Samsung to split into holding and operating companies. Elliott urged Samsung to list the operating company on the NASDAQ stock exchange and pay a special dividend.

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IPO to help Doosan Bobcat venture into emerging market: exec

SEOUL -- Doosan Bobcat Inc., a unit of power and construction equipment conglomerate Doosan, will expand its presence in emerging markets as the company is set to make a market debut here later this month, a company executive said Thursday.

In August, the company received preliminary approval for its initial public offering (IPO) planned on Oct. 21.

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Pyongyang-Beijing train service used as N. Korea's new conduit for illicit trade

SHENYANG -- A cross-country train service linking Pyongyang and Beijing has turned out to be a new conduit used by North Korea to smuggle foreign currency and high-priced goods as the international community moves to impose tougher sanctions on the North following its missile and nuclear tests, sources familiar with North Korea-China border affairs said Thursday.

Chinese customs officers seized about 3,000 grams of 40 black bear gallbladders from North Korea, possessed by a man believed to be a North Korean, at the border in the northeastern Chinese city of Dandong bordering the North on Aug. 18, the sources said.

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(LEAD) S. Korea to examine effectiveness of Volkswagen's Tiguan recall plan

SEJONG -- South Korea's government on Thursday started to examine the effectiveness of German carmaker Volkswagen's recall measures for its sports utility vehicles to check whether necessary changes can be made based on the plan.

The Ministry of Environment and the National Institute of Environmental Research (NIER) together launched the examination that could take upwards to six weeks on devices, including the Portable Emission Measurement System, (PEMS) in the Tiguan compact crossover vehicle.

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(2nd LD) Regulator vows to prioritize reining in household debts

SEOUL -- South Korea's top financial regulator said Thursday the government's priority is to rein in mounting household debts dogging Asia's fourth-largest economy.

Speaking to lawmakers, Yim Jong-yong, chairman of the Financial Services Commission (FSC), pointed out that it's the "biggest risk factor" for the economy already in distress due to a number of setbacks including sluggish export growth and domestic spending.

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Prosecutors launch probe into parliamentary speaker

SEOUL -- State prosecutors on Thursday began an investigation into National Assembly Speaker Chung Sye-kyun after ruling party lawmakers filed a petition against him over the latest parliamentary passage of a motion to dismiss the country's agricultural minister.

Late last month, all of the lawmakers at the Saenuri Party, including its chief Lee Jung-hyun and floor leader Chung Jin-suk, jointly lodged a complaint with the Seoul Central District Prosecutors' Office.
(END)

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