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Yonhap News Summary

All News 17:30 January 02, 2017

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

S. Korea's global auto sales shrink 1.3 pct in 2016

SEOUL -- Global sales of cars produced by five South Korea-based automakers shrank slightly from a year earlier in 2016 due to a decline in overseas sales that more than offset an increase in sales here, data released by the carmakers showed Monday.

The combined global sales of the five automakers came to 8,890,530 cars last year, down 1.3 percent from the previous year.

(LEAD) Seoul shares almost flat amid cautious note

SEOUL -- Seoul shares ended almost unchanged Monday, the first trading session of the year, amid concerns that China may retaliate against the decision to deploy an advanced anti-missile defense system on South Korean soil. The local currency lost ground against the greenback.

The benchmark Korea Composite Stock Price Index (KOSPI) edged down 0.3 point, or 0.01 percent, to 2,026.16. Trading volume was slim at 227.41 million shares worth 2.59 trillion won (US$2.14 billion), with losers outnumbering gainers 449 to 355.

(LEAD) S. Korea mulls measures against China's THAAD retaliation: foreign minister

SEOUL -- South Korea's top diplomat said Monday the government is mulling countermeasures to deal with China's recent curbs on Korean businesses and cultural products in an apparent retaliation against Seoul's missile shield plan.

In July, South Korea and the U.S. announced a plan to station the U.S. Terminal High Altitude Area Defense (THAAD) battery this year to defend against growing missile threats from North Korea. China has argued that its strong radar system could hurt its strategic security interest.

S. Korea slaps fines on Nissan, BMW, Porsche over fabricated reports

SEOUL -- The South Korean government said Monday it has nullified vehicle certifications and imposed fines on three foreign automakers for fabricating reports to win sales approval from the local authorities.

The Ministry of Environment said it slapped a total of 7.17 billion won (US$5.93 million) in fines on the local units of Nissan, BMW and Porsche after detecting defects in the certification documents for 10 vehicle models.

Samsung, gov't to announce Galaxy Note 7 probe outcome: sources

SEOUL -- Samsung Electronics Co. and the South Korean government will soon release the outcome of their investigation into what caused Galaxy Note 7 smartphones to catch fire, industry sources said Monday.

The South Korean tech giant has asked the U.S.-based safety organization UL to find the root cause of phablets catching fire after the firm halted its sales over recurring battery problems.

(2nd LD) Acting president vows to strongly respond to N.K. nuke threats

SEOUL -- Acting President and Prime Minister Hwang Kyo-ahn on Monday vowed to strongly respond to North Korea's growing nuclear threats through close international cooperation.

His remarks came a day after North Korean leader Kim Jong-un said Pyongyang is in the "closing phase" of preparations to test-fire an intercontinental ballistic missile, a message that has foreshadowed yet another military provocation by the wayward regime.

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