Yonhap News Summary

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

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(2nd LD) Moon inspects test firing of new missile in warning to N. Korea

SEOUL -- South Korean President Moon Jae-in watched the test-firing of a home-grown missile with a range of 800 kilometers Friday, also sending a strong warning to North Korea and its evolving missile provocations.

"The president's inspection of the test firing was aimed at sending a clear warning against North Korea's repeated provocations," Park Soo-hyun, a spokesman for the presidential office Cheong Wa Dae, told reporters.

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N. Korean taekwondo officials, athletes arrive in S. Korea for historic performances

SEOUL -- A group of North Korean taekwondo officials and athletes arrived in South Korea on Friday for soon-to-be historic performances at the world championships.

Amid much fanfare at Gimpo International Airport in Seoul, the International Taekwondo Federation (ITF) delegation of 36, led by its president Ri Yong-son, arrived south of the tense border via Beijing. Of those 36, 32 are North Koreans.

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(LEAD) USFK: Allies have agreed to deploy THAAD in Korea ASAP

SEOUL -- The U.S. Forces Korea (USFK) said Friday it has an "original" agreement with South Korea to deploy the THAAD missile defense system here as soon as possible.

It was in response to President Moon Jae-in's view that the deployment process has been "accelerated for some reason" that he does not know.

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(2nd LD) Park confidante gets 3-yr jail term for soliciting favors for her daughter

SEOUL -- The friend of former President Park Geun-hye was sentenced to three years in prison for soliciting academic favors for her daughter on Friday, the first ruling handed down for her involvement in a massive corruption scandal that led to Park's ouster.

The Seoul Central District Court found Choi Soon-sil guilty of obstruction of duty by exerting influence on Ewha Womans University to give undue favors to her 21-year-old daughter, Chung Yoo-ra, using her ties with the former president. The prosecution had demanded a seven-year jail term for Choi in May.

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S. Korea's antitrust watchdog chief urges businesses to reform voluntarily

SEJONG -- The head of South Korea's antitrust watchdog said Friday that local big-name business groups need to voluntary reform and change their cobweb-like family-run governance structure and meet market expectations.

"I called for this meeting to ask businesses to make changes and set an example," Fair Trade Commission (FTC) Chairman Kim Sang-jo said before the talks with leaders of the four biggest conglomerates.

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(LEAD) S. Korea keeps close tabs on N.K. missile development

SEOUL -- South Korea said Friday that it is closely monitoring North Korea's missile development in cooperation with the United States amid a news report that the North has conducted another rocket engine test.

Earlier this week, North Korea conducted the test of a rocket engine that could be seen as part of the North's program to develop an intercontinental ballistic missile (ICBM), Reuters reported, citing unnamed U.S. officials.

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S. Korean shares end up on institutional buying

SEOUL -- South Korean stocks ended higher Friday as institutions remained net buyers. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index rose 8.23 points, or 0.35 percent, to 2,378.60. Trade volume was moderate at 247.36 million shares worth 5.32 trillion won (US$4.7 billion), with gainers outnumbering losers 539 to 259.
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