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Yonhap News Summary

All News 17:31 January 20, 2017

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

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(LEAD) U.S., South Korea need to further strengthen alliance against many challenges: Mark Lippert

INCHEON -- Time is of the essence in dealing with geopolitical and security challenges facing the Northeast Asian region, the outgoing top U.S. envoy to South Korea said Friday, adding that the current situation warrants more efforts by Washington and Seoul to strengthen their alliance.

Ambassador Mark Lippert noted that he remains optimistic about the future of the two allies, citing a strong foundation and mechanisms that will help them iron out any differences of opinions taking place under any administration.

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(LEAD) Parliament committee passes bill to ban state-authored history textbook

SEOUL -- The parliament's education committee on Friday passed a bill to ban state-authored textbooks amid the boycott from conservative parties.

The National Assembly Education, Culture, Sports & Tourism Committee approved the bill that bans the use of textbooks whose copyrights are held by the government. The bill has been handed over to the Legislation and Judiciary Committee.

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(2nd LD) Deutsche Bank ordered to compensate investors for stock manipulation in class action suit

SEOUL -- A lower court ordered Deutsche Bank on Friday to compensate investors for damage it caused by manipulating stock prices, in the nation's first-ever ruling on a class action suit.

The Seoul Central District Court ordered the Germany-based financial services company to pay a total of 8.55 billion won (US$7.28 million) to six plaintiffs who invested in local equity-linked securities (ELS) products in 2007.

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THAAD dispute spills over into classical music industry, concerts canceled

SEOUL -- Worries are growing that South Korean classical music might fall victim to the on-going diplomatic feud between Seoul and Beijing over a new anti-missile system called THAAD.

According to the classical music industry Friday, the Chinese government has delayed issuing a visa to soprano Sumi Jo, without sufficient explanation. She is supposed to perform in three Chinese cities -- Guangzhou, Beijing and Shanghai -- starting from Feb. 19.

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S. Korea to impose anti-dumping duties on Chinese offset printing plates

SEJONG -- South Korea is set to impose anti-dumping duties on Chinese-made aluminum plates for offset printing, the trade commission here said Friday, amid rising trade tensions between the two countries.

After a preliminary examination, the Korea Trade Commission (KTC) said it will recommend the finance ministry levy punitive duties of 5.73-10 percent on the Chinese products for underselling Korean products and causing damage to the South Korean market.

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(LEAD) Korean shares edge down on cautious mood

SEOUL -- South Korean shares ended slightly lower on Friday amid a cautious note, hours before U.S. President-elect Donald Trump's inauguration. The South Korean currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.18 points, or 0.35 percent, to 2,065.61.
(END)

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