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Yonhap News Summary

All News 17:00 June 12, 2017

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

(2nd LD) President urges approval for extra budget, citing possible crisis

SEOUL -- President Moon Jae-in called for swift action by the parliament to create an extra budget Monday, saying the budget may not be enough to solve all the problems facing the nation but the country may soon face a crisis without it.

"Economy requires (the right measures) at the right time," the president said in a state of the nation address delivered at the National Assembly.

S. Korean firms urge support to cover fallout of inter-Korean complex shutdown

SEOUL -- South Korean firms that operated factories at the now-shuttered joint industrial park in the North on Monday demanded the government compensate the unretrieved tens of billions of won in financial losses stemming from the shutdown.

During a debate session held at the National Assembly, Shin Han-yong, chief of the companies' association, said the Seoul government should provide 225 billion won (US$199 million) in assistance to cover losses it failed to make up.

FIFA chief says S. Korea's U-20 World Cup 'successful'

SEOUL -- FIFA President Gianni Infantino said Monday South Korea hosted a successful Under-20 World Cup, congratulating local organizers and thanking people for their support for the men's youth football tournament.

South Korea staged the U-20 World Cup from May 20 to last Sunday in six cities and welcomed 24 teams. Infantino landed in South Korea on Saturday to watch the final between England and Venezuela, and to meet with football officials here.

Air pollution causes 14,000 additional deaths a year in S. Korea: report

SEOUL -- About 14,000 people are dying prematurely every year in South Korea as a result of air pollution, a medical professor said Monday, citing a report by the U.S.-based Institute for Health Metrics and Evaluation (IHME).

Cheong Hae-kwan, a professor at the Medical College of Seoul's Sungkyunkwan University, said during a seminar that the number of premature deaths in South Korea caused by air pollution was tallied at 13,703 in 2013 in the IHME report.

(LEAD) Seoul stocks drop 1 pct on Wall Street losses

SEOUL -- South Korean stocks ended lower Monday as foreign investors and institutions cashed in recent gains following overnight Wall Street losses, analysts said. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) declined 23.82 points, or 1 percent, to close at 2,357.87. Trade volume was moderate at 324 million shares worth 5.7 trillion won (US$5.3 billion), with losers far outnumbering gainers 560 to 243.

Tougher lending rules to adversely affect economy: think tank

SEOUL -- A move to tighten South Korea's lending rules to curb household debt could adversely affect the overall economy, a local think tank said Monday.

In a report on the impact of lending rules and household debt, the Korea Economic Research Institute (KERI) warned against stricter regulations involving the debt-to-income (DTI) ratio as changes will force borrowers spend less and further drag down the already fragile economy.

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