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Yonhap News Summary

All News 17:00 October 11, 2016

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

(LEAD) S. Korean shares end lower on Samsung woes, U.S. rate hike fear
(ATTN: ADDS bond yields at bottom)

SEOUL -- South Korean shares closed sharply lower Tuesday as market kingpin Samsung Electronics suffered a steep drop caused by its decision to halt global sales of the Galaxy Note 7 smartphone but more so because of what local analysts called renewed fears of a U.S. rate hike. The local currency also lost ground against the U.S. dollar over such fears.

The benchmark Korea Composite Stock Price Index retreated 24.89 points, or 1.21 percent, to 2,031.93. Trading volume was slim at 338.8 million shares worth 5.12 trillion won (US$4.57 billion) with losers outnumbering gainers 408 to 391.

S. Korea reviewing stronger unilateral sanctions on N. Korea: foreign ministry

SEOUL -- A government-wide review is underway in South Korea to adopt a tougher set of unilateral sanctions on North Korea in reaction to the regime's recent nuclear test, the foreign ministry said Tuesday.

"(South Korea) is carrying out a broad review of adopting additional independent sanctions," Cho June-hyuck, spokesman at the Ministry of Foreign Affairs, said in a regular briefing. "At the pan-government level, (Seoul) is seeking more detailed and effective sanctions measures."

Every tool should be used to deal with N. Korea nuke program: Sherman

SEOUL -- Every possible tool including military action should be used to denuclearize North Korea, Wendy Sherman, former U.S. undersecretary of state for political affairs, said on Tuesday, calling Pyongyang's nuclear ambition the next U.S. administration's top challenge.

"We need to use every tool we have -- military, intelligence, diplomacy, sanctions, information and propaganda -- to deal collectively with North Korea," Sherman said in a session of the World Knowledge Forum hosted by Maeil Business Newspaper.

PM visits Thai military unit that served in Korean War

SEOUL -- Prime Minister Hwang Kyo-ahn visited a Thai military unit that fought under the United Nations flag in the 1950-53 Korean War on Tuesday, expressing gratitude to veterans.

Thailand is one of 16 nations that sent combat troops as part of the U.N. forces to defend South Korea from the North Korean invasion. The country sent 6,326 soldiers with 136 losing their lives in the conflict.

(LEAD) 'Technology financing' taking root in S. Korea: FSC
(ATTN: ADDS data on loan volume in paras 6-7)

SEOUL -- "Technology financing" is spreading rapidly among South Korea's small and medium-sized companies, but a related system still leaves something to be desired, a survey showed Tuesday.

South Korea introduced the loan option in 2014 for local tech firms with growth potential.

It offers them with chances to get loans based on an evaluation of their technology rather than focusing on their collateral or balance sheets.

Daewoo Shipbuilding wins 340 bln-won frigate order

SEOUL -- Daewoo Shipbuilding & Marine Engineering Co. said Tuesday it has bagged a 340 billion-won (US$304 million) deal to build a frigate for the South Korean Navy.

Under the deal, the major South Korean shipbuilder will deliver the 2,800-ton frigate by the end of 2020, the company said.

The ship, 122 meters long and 14 meters wide, has a maximum speed of 30 knots, according to the shipyard.


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