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Yonhap News Summary

All News 17:20 June 19, 2017

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

S. Korea's 2017 growth may top gov't goal of 2.6 pct.: finance minister

SEJONG -- South Korea's economic growth may overshoot the government target of 2.6 percent this year if a large-scale extra budget is implemented fully and current economic conditions persist, the nation's economic czar said Monday.

Finance Minister Kim Dong-yeon, who doubles as the deputy prime minister for economic affairs, made the upbeat forecast in an interview with Bloomberg TV. It marks the first time since his inauguration that Kim has hinted at hiking the government's growth forecast.

S. Korea's antitrust chief calls for voluntary change of conglomerates

SEJONG -- The head of South Korea's antitrust watchdog said Monday that he expects the country's businesses to voluntarily reform their cobweb-like family-run governance structure to meet market expectations and restore fair competition.

"I want to reaffirm that I will never be pushy and coercive in carrying out reform on conglomerates," Fair Trade Commission (FTC) Chairman Kim Sang-jo said in a press briefing held less than a week after his inauguration. "At the same time, I hope they will change themselves on their own and meet social and market expectations."

(2nd LD) S. Korea's spy agency launches reform committee

SEOUL -- South Korea's spy agency on Monday launched an in-house reform committee to head its efforts to insulate itself from politics and regain public trust.

The National Intelligence Service (NIS) committee set up two task forces under its wing each tasked with probing the agency's illegal involvement in domestic politics and overhauling its organizations, it said.

(LEAD) Seoul stocks end higher on foreign buying

SEOUL -- South Korean stocks ended slightly higher Monday as foreigners turned net buyers. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 9.07 points, or 0.38 percent, to close at 2,370.90. Trade volume was moderate at 288 million shares worth 5.35 trillion won (US$4.7 billion), with decliners outnumbering advancers 418 to 388.

New venue announced for N. Korean taekwondo demonstration team's S. Korean performance

SEOUL -- A new venue for an upcoming performance in South Korea by a North Korean taekwondo demonstration team was announced on Monday.

The North Korea-led International Taekwondo Federation (ITF) will bring a demonstration team to South Korea for the World Taekwondo Federation (WTF) World Taekwondo Championships in Muju, some 240 kilometers south of Seoul. The ITF's team is scheduled to perform during the event's opening and closing ceremonies on June 24 and 30 with a WTF team.

S. Korean Olympic chief to run for IOC seat

SEOUL -- The South Korean Olympic chief is running for a seat on the International Olympic Committee, an official with the top national sports body said Monday.

Lee Kee-heung, president of the Korea Sport & Olympic Committee (KSOC), submitted his candidacy documents to the IOC's Members Election Commission on Friday, according to the official with the KSOC.


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