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Yonhap News Summary

All Headlines 13:30 June 07, 2017

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

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(LEAD) FM designate calls for S. Korea's active and leading role on N.K. issue

SEOUL -- South Korea should play a more "active" and "leading" role as a stake holder in handling North Korea's nuclear problem, President Moon Jae-in's pick for foreign minister said Wednesday.

Kang Kyung-wha told a confirmation hearing that she will "sternly" deal with any provocation by the North while getting actively involved in international efforts to rein in Pyongyang's evolving nuclear and missile capabilities.

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N.K. urges S. Korea to end confrontation for revival of exchanges

SEOUL -- North Korea's propaganda website urged South Korea on Wednesday to show sincerity in ending its confrontational policy, including its 2010 punitive sanctions against Pyongyang, before Seoul seeks to resume civilian inter-Korean exchanges.

The North's propaganda outlet Uriminzokkiri also cited Seoul's suspension of a joint tour program at Mount Kumgang in 2008 and closure of a joint industrial complex in 2016 as the main hindrance in improving inter-Korean ties.

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LG Chem gets US$12.6 mln from Bill Gates Foundation for polio vaccine

SEOUL -- LG Chem Ltd., South Korea's top chemical firm, said Wednesday that it has received a US$12.6 million grant from the Bill & Melinda Gates Foundation to develop a new polio vaccine.

The grant will be used to expand LG Chem's facility in South Korea and conduct medical trials of its new polio vaccine in overseas countries, LG Chem said in a statement.

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Jeju defender to visit Japanese football club to apologize for on-field violence

SEOUL -- A South Korean defender will visit a Japanese football club later this week to apologize for his violent actions during the Asian Football Confederation (AFC) Champions League match last month, his club said Wednesday.

Jeju United said Baek Dong-gyu will visit Urawa Red Diamonds to personally apologize to Yuki Abe, whom he elbowed during a melee in the AFC Champions Leagued round of 16 second leg at Saitama Stadium in Saitama, Japan, last Wednesday.

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Real income growth outpaced by economic expansion: data

SEJONG -- The growth of real income of South Koreans has risen at a slower pace than that of economic growth over the past five years, government data showed Wednesday.

The average real income of local businesses with at least five employees was 3.39 million (US$3,000) per month last year, up 2.8 percent from a year earlier, according to the data by the Ministry of Strategy and Finance and the Ministry of Employment and Labor.

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Unfair intra-affiliate transactions rise 23 pct despite regulations

SEOUL -- Unfair intra-affiliate transactions by business conglomerates rose by 23.1 percent last year, despite the government's efforts to clamp down on such business practices that are considered unfair ways to help such companies, industry data showed Wednesday.

According to the data by corporate tracker CEO Score, the value of unfair in-house transactions by 91 affiliates of conglomerates rose by 1.4 trillion won (US$1.2 billion) from two years ago to 7.9 trillion won last year.

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Imported car sales fall in May on lower diesel model demand

SEOUL -- Sales of imported vehicles in South Korea fell 0.5 percent last month from a year earlier on lower demand for diesel models, industry data showed Wednesday.

The number of newly registered foreign cars fell to 19,380 in May from 19,470 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement.

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S. Koreans heading to Philippines drop amid military rule, shooting attack

SEOUL -- The number of South Koreans visiting the Philippines shrank following the imposition of martial law in the Southeast Asian country's southern region and the recent shooting in Manila, industry sources said Wednesday.

Some 400 people have canceled their trips to the Philippines since May 25 at a Seoul-based travel agency Mode Tour, the company said.

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Smartphone giants brace for competition in H2

SEOUL -- Global tech giants are set to engage in another round of competition in the second half of 2017 as major smartphone brands will release high-end models armed with top-notch technologies, industry watchers said Wednesday.

Samsung Electronics Co., Apple Inc. and LG Electronics Inc. are expected to release the tentatively named Galaxy Note 8, iPhone 8 and V30, respectively, in the second half of this year, which are expected to come with smaller bezels and dual cameras.

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Samsung, SK beef up foundry biz to meet growing demand

SEOUL -- South Korea's chipmakers are expanding their foundry businesses in line with rising global demand amid the fourth industrial revolution that centers on the information and communication technologies, industry watchers said Wednesday.

The foundry business refers to making chip designs for other companies that do not have a semiconductor fabrication plant.

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(LEAD) Woman linked to Sewol operator arrested in France

PARIS/INCHEON -- The daughter of a late businessman blamed for the 2014 Sewol ferry disaster has been arrested, as France extradited her three years after she fled to avoid arrest on embezzlement charges, officials said Wednesday.

The Incheon District Prosecutors' Office said they apprehended Yoo Sum-na, the daughter of Yoo Byung-eun, aboard a Korean Airlines plane bound for Incheon at Charles de Gaulle Airport at around 3:30 a.m.

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Tillerson calls on all countries to press N. Korea to return to talks

WASHINGTON -- U.S. Secretary of State Rex Tillerson said Tuesday that countries with any type of ties to North Korea should join the U.S. in putting pressure on Pyongyang so as to bring the regime to the negotiating table for denuclearization.

Tillerson made the remark at a joint news conference in Wellington with New Zealand Prime Minister Bill English, stressing that the communist nation should be made to rethink its future because its nuclear and missile programs won't bring what it wants.
(END)

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