Yonhap News Summary

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

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(LEAD) Samsung temporarily halts production of Galaxy Note 7: official

SEOUL -- Samsung Electronics Co. has temporarily suspended production of the Galaxy Note 7 smartphone, an official at a supplier for Samsung said Monday, amid a series of media reports that some Note 7 replacements have caught fire.

The halt is in cooperation with consumer safety regulators from South Korea, the United States and China, the official said on the condition of anonymity.

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N.K. stresses one-man leadership on its ruling party's founding anniversary

SEOUL -- North Korea on Monday stressed the one-man rule by its leader Kim Jong-un and called for the people's allegiance as it marked the founding of its ruling party, Pyongyang's state media showed.

In a commentary, the Rodong Sinmun, North Korea's main newspaper, voiced the need to further show loyalty to Kim and follow his orders on the occasion of the 71st anniversary of the Workers' Party of Korea's (WPK) foundation.

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Electronic payment hits record high in Q2

SEOUL -- The amount of payments made electronically hit a record quarterly high in the second quarter, central bank data showed Monday, in the latest sign that a growing number of South Koreans are using electronic means for financial transactions.

The daily average amount of electronic financial transactions came to 322 billion won (US$289 million) in the April-June period, up 7 percent from the previous quarter, according to the data from the Bank of Korea (BOK).

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(LEAD) Gov't to tighten oversight of banks over household debts

SEOUL -- South Korea's chief financial regulator said Monday that the government will turn the screws on local banks and other lenders extending mortgage loans at a rapid pace, as the government is struggling to curb household debts.

"The government will take strong, specific follow-up measures" to the Aug. 25 announcement aimed at slowing the growth in the amount of household debts, Yim Jong-yong, chairman of the Financial Services Commission (FSC), told reporters.

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246 firearms seized in smuggling attempts this year: customs service

SEOUL -- South Korea foiled multiple attempts to smuggle a total of 246 firearms into the country in the first eight months of the year, a lawmaker said Monday, citing data from the related authorities.

It already marks the highest number of guns confiscated by the Korea Customs Service (KCS) in a year in the 2010s, according to Rep. Yun Ho-jung of the main opposition Minjoo Party of Korea.

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Private U.S. delegation makes rare visit to N. Korea

NEW YORK -- A private U.S. delegation made a rare visit to North Korea last month that included discussions about recovering the remains of American soldiers killed in the Korean War, a U.S. student detained in the communist nation and possible flood assistance for the North, a news report said.

The Sept. 24-27 visit, which came just two weeks after the North's Sept. 9 nuclear test, was organized by the Richardson Center for Global Engagement, a nonprofit group led by former New Mexico Gov. Bill Richardson, The New York Times reported.

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(Yonhap Feature) Reenactment of royal parade dazzles Seoul citizens, tourists

SEOUL -- Early Saturday morning, Changdeok Palace in central Seoul was crowded with people waiting to see the beginning of a reenactment of a royal procession carried out here hundreds of years ago.

As part of the 53rd Suwon Hwaseong Cultural Festival, which ran from Friday to Sunday, the city governments held hands to recreate King Jeongjo's parade from Seoul to the neighboring city of Suwon for a two-day run.
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