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Yonhap News Summary

All News 17:04 April 05, 2017

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

(LEAD) Conservative candidate vows more missile shields, joint management of U.S. nuke assets

SEOUL -- Yoo Seong-min, the presidential nominee of the Bareun Party said Wednesday if elected he would upgrade the country's deterrence against North Korean threats by introducing more U.S. missile defense systems and pushing for joint operation of U.S. nuclear assets.

Laying out his security-related election pledges, the candidate of the splinter conservative party said that "currently, the United States single-handedly makes most decisions regarding its nuclear assets."

(LEAD) Regulator approves another Internet-only bank in S. Korea

SEOUL -- South Korea's financial regulator on Wednesday granted a final approval to Kakao Bank, paving the way for the nation's second Internet-only bank to launch operations in the first half of this year.

The approval by the Financial Services Commission (FSC) came as its rival K-Bank, the first Internet-only bank, which started operations earlier this week, appears to have succeeded in attracting customers.

(LEAD) Seoul stocks down 0.01 pct on foreign selling

SEOUL -- South Korean stocks ended slightly lower Wednesday as foreign investors and institutions offloaded local stocks. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index shed 0.25 points, or 0.01 percent, to 2,160.85.

PyeongChang Olympics to create fresh economic momentum: finance minister

PYEONGCHANG, South Korea -- The upcoming 2018 PyeongChang Olympics will bring in fresh economic momentum for South Korea through creating more jobs and a boom in the tourism industry, the country's top economic policymaker said Wednesday.

"The PyeongChang Olympics will help reinvigorate the economy and give a good chance to promote the country throughout the world," Finance Minister Yoo Il-ho said during his visit to the venues for the hibernal sporting event slated for February next year.

South Koreans sue Seoul, Beijing governments over fine dust

SEOUL -- South Koreans on Wednesday sued the governments of Seoul and Beijing, seeking compensation over mental distress they suffered due to fine dust, the plaintiffs said.

Choi Yul, Korea's environmentalism pioneer and president of the Korea Green Foundation, and attorney Ahn Kyung-jae filed the case with the Seoul Central District Court, seeking 3 million won (US$2,600) in compensation each. Five others also took part in the suit with the two plaintiffs as their representatives.

S. Korean military's new tactical vehicles in field test

SEOUL -- Some South Korean military units are operating newly developed small tactical vehicles, modeled after the Humvee, in a field operation test, the nation's arms procurement agency said Wednesday.

Five types of indigenous multipurpose wheeled vehicles have been delivered to such forward-deployed units as the Army's 12th Division and the Marine Corps' 2nd Division since January for a four-month test run before mass production, according to the Defense Acquisition Program Administration (DAPA).

(News Analysis) Ahn emerges as game changer, looking to duel with front-runner Moon

SEOUL -- As recently as early last week, liberal front-runner Moon Jae-in appeared to be a surefire winner of the next presidency with his poll ratings nearly twice those of closest rivals.

With only one month away, the election suddenly looks wide open with the rise of his old ally-turned-rival, Ahn Cheol-soo, who declares there will be a duel between the politics of hegemony and a quest for unity.

Gov't to land Sewol ferry as scheduled

MOKPO, South Korea -- The South Korean government said Wednesday that it will move the salvaged Sewol ferry into a dry dock on land as scheduled despite technical difficulties and inclement weather conditions.

The 6,800-ton ferry was raised from the bottom of the sea and moved to the port of Mokpo, some 410 kilometers southwest of Seoul, on a semisubmersible transport ship. It sank off the country's southwestern coast near Jindo Island in April 2014, leaving more than 300 people dead and nine still missing.

Micron, SK hynix, WD to vie for Toshiba's memory unit: IHS

SEOUL -- South Korean chipmaker SK hynix Inc., as well as U.S.-based Micron Technology, Inc. and Western Digital are expected to lock horns to take over the memory arm of Japan-based Toshiba Corp., industry tracker said Wednesday.

During a forum here, Walter Coon, director for NAND flash technology research at the industry tracker IHS, said while one of the three bidders are widely expected to be the potential winner of Toshiba, none of them currently hold a strong advantage.

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