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Yonhap News Summary

All News 13:42 June 08, 2017

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

(2nd LD) N. Korea fires multiple anti-ship missiles: S. Korean military

SEOUL -- North Korea launched a salvo of anti-ship cruise missiles from its east coast Thursday, South Korea's military said, adding they flew some 200 kilometers before dropping in the East Sea.

"North Korea fired several unidentified projectiles, assumed to be short-range surface-to-ship cruise missiles, this morning in the direction of the East Sea from the vicinity of Wonsan, Gangwon Province," the Joint Chiefs of Staff (JCS) said. "The flight distance is around 200 km."

(LEAD) President to chair first NSC meeting over N. Korean missile launches

SEOUL -- South Korean President Moon Jae-in has convened a meeting of the National Security Council on Thursday to discuss possible measures against North Korea's repeated rocket and missile launches, the presidential office said.

The first NSC meeting to be chaired by the president will be held at 2 p.m., according to the presidential office Cheong Wa Dae.

(LEAD) Inter-Korean summit celebration event likely to fall through

SEOUL -- North Korea has yet to invite a South Korean civic group for an inter-Korean summit anniversary event in Pyongyang slated for next week, officials said Thursday, raising the possibility of the joint event falling through.

The two Koreas' civic groups have been seeking to hold a joint celebration to mark the first summit on June 15, 2000, after new liberal President Moon Jae-in's government said it would flexibly consider resuming civilian inter-Korean exchanges.

S. Korean economy maintains moderate recovery momentum

SEJONG -- The South Korean economy has been on a modest recovery path thanks to brisk exports and investment despite a slight downturn in industrial output, a state-run think tank said Thursday.

"The Korean economy maintained a moderate improvement led by exports and investment demand, although industrial output growth moderated slightly," the Korea Development Institute (KDI) said in its monthly evaluation of the country's economic conditions.

(LEAD) S. Korea's military seeks 8.4 pct hike in 2018 budget

SEOUL -- South Korea's defense ministry said Thursday it has requested a record budget of 43.7 trillion won (US$38.7 billion) for next year, citing growing threats from North Korea and the need for reforming the South's military under President Moon Jae-in's campaign pledge.

It represents an 8.4 percent increase from 2017.

(2nd LD) Pentagon: U.S. believes S. Korea won't reverse THAAD deployment

WASHINGTON -- The United States believes South Korean won't reverse the decision to host the THAAD missile defense system, the Pentagon said Wednesday after Seoul suspended the deployment pending an environmental assessment.

Seoul's presidential office, Cheong Wa Dae, said earlier in the day that deployment of four launchers for the THAAD battery should wait until the environmental study is over, though two, already-deployed launchers won't be withdrawn.

(LEAD) Kia Stinger receives strong response in S. Korea

SEOUL -- Kia Motors Corp.'s Stinger sports sedan has generated a strong response in South Korea since its launch last month, with initial orders exceeding 2,700 units.

Kia, the country's second-biggest carmaker by sales after Hyundai Motor Co., has added the Stinger to its lineup to enhance its brand image and compete with high-performance models, such as the Audi A4 and BMW3 series, in global markets.

(Yonhap Feature) In vogue: Converting decrepit piece of real estate into cultural hot spot

BUSAN -- Standing on a gentle slope, a former wire rope factory built more than 50 years ago used to be an eyesore in the quiet residential neighborhood of central Busan. Until it was transformed into a cultural complex.

On a recent early day, the venue, "F1963," was filled with excited visitors checking out the port city's latest attraction.

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