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Yonhap News Summary

All News 17:00 June 01, 2017

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

(4th LD) Moon revs up push to get extra budget for job creation

SEOUL -- President Moon Jae-in on Thursday ratcheted up his push to secure an 11 trillion won (US$9.8 billion) extra budget for job creation, saying he would visit parliament to gain its backing at an "appropriate time" if need be.

During a regular meeting with his senior secretaries, Moon also directed the government to accelerate the process of submitting a bill for the supplementary budget to the National Assembly in order to deliver on his key election pledge of creating 810,000 jobs in the public sector.

(2nd LD) U.S. may raise interest rate four times this year: Fed official

SEOUL -- The U.S. Federal Reserve could raise its interest rate four times this year if the economy strengthens, a senior Fed official said Thursday.

John C. Williams, President and CEO of the Federal Reserve Bank of San Francisco, said that three rate increases this year is a reasonable baseline view, but there is potential for upside occurrences in the economy.

(2nd LD) Moon appoints three deputy chiefs of spy agency

SEOUL -- President Moon Jae-in on Thursday appointed three deputy directors of the National Intelligence Service (NIS), completing the leadership lineup of the spy agency.

Moon appointed Seoul's Ambassador to Pakistan Suh Dong-gu as the first deputy director, while choosing Kim Joon-hwan, a former head of a regional NIS office, as the second deputy director. Kim Sang-gyun, a former chief of the NIS's North Korea strategy, was named the third deputy director.

(LEAD) Lotte opens new food R&D center in eastern Seoul

SEOUL -- Lotte Group, South Korea's food and retail giant, unveiled Thursday its new research and development (R&D) center in eastern Seoul, vowing to strengthen its food and bio sectors.

The conglomerate has spent a total of 225 billion won (US$201 million) in constructing the new eight-story building on 83,000 square meters.

(LEAD) BIGBANG's T.O.P caught for allegedly smoking marijuana

SEOUL -- Police said Thursday they have arrested T.O.P. from popular boy band BIGBANG on charges of smoking marijuana in October last year.

The 28-year-old rapper tested positive for marijuana use, according to the Seoul Metropolitan Police Agency. It was not confirmed whether he smoked the banned substance habitually.

Seoul stocks slip on profit-taking

SEOUL -- South Korean stocks ended lower Thursday as foreign investors and institutions cashed in recent gains following a month-long rally amid U.S. uncertainties, analysts said. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.77 points, or 0.12 percent, to close at 2,344.61. Trade volume was moderate at 331 million shares worth 5.28 trillion won (US$4.7 billion), with losers outnumbering gainers 449 to 355.

Moon says will handle N.K. issues without role of foreign countries

JEJU ISLAND -- South Korea's new administration will take the initiative in global efforts to denuclearize North Korea without depending on the role of foreign countries, President Moon Jae-in said Thursday.

"We will take the lead in dealing with Korean Peninsula issues without relying on the role of foreign countries," Moon said in a congratulatory video message to the opening of the Jeju Forum, which kicked off a three-day run on this resort island. "We will launch an entirely renewed initiative and boldly implement it for lasting peace and prosperity on the Korean Peninsula."


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