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Yonhap News Summary

All News 17:01 July 07, 2017

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

(2nd LD) S. Korea likely to propose talks to N.K. following Moon's peace gesture

SEOUL -- South Korea said Friday it is considering proposing military and Red Cross talks to North Korea to follow up on President Moon Jae-in's offer to stop all acts of hostility on the border and hold reunions of separated families.

Moon unveiled his broad vision for bringing peace to the Korean Peninsula during his speech in Berlin on Thursday, two days after the North test-fired an intercontinental ballistic missile (ICBM).

S. Korea's nuke envoy to join regional security meeting in Singapore

SEOUL -- The top nuclear envoy of South Korea will join a regional security conference to be held next week in Singapore, where he will discuss with his counterparts from the United States and Japan countermeasures against North Korea's recent missile provocation, the foreign ministry said Friday.

The Northeast Asia Cooperation Dialogue (NEACD) will kick off Tuesday for a two-day run. The informal security meeting is usually attended by officials and civilian experts from the states of the now suspended six-party talks aimed at denuclearizing North Korea.

(2nd LD) Party stand-off deepens over ruling party chief's remarks on fake tip-off scandal

SEOUL -- The discord between parties escalated Friday as the ruling party leader refused to apologize for derisively commenting on a minor opposition party's denial of its leaders' involvement in a fake tip-off scandal.

The opposition People's Party has demanded Choo Mi-ae, the head of the ruling Democratic Party, apologize and resign over her remarks that played down its internal probe into an alleged fabrication of misinformation about President Moon's son.

S. Korea's 2017 growth outlook raised by Nomura to 2.7 pct

SEOUL -- Japanese bank Nomura Holdings Inc. joined several global investment banks on Friday in raising South Korea's economic growth forecast for this year.

Kwon Young-sun, a chief economist at Nomura, upgraded South Korea's economic growth rate for this year to 2.7 percent from its previous forecast of 2.4 percent, citing improving exports and construction investment.

(4th LD) Samsung posts surprise, record-high operating profit for Q2

SEOUL -- South Korean tech giant Samsung Electronics Co. predicted Friday that its second-quarter operating profit shot up nearly 72 percent on-year to post a record-high quarterly level, apparently helped by the robust performance of its chip business.

The stronger-than-expected operating profit was estimated at 14 trillion won (US$12.1 billion), compared with 8.14 trillion won posted a year earlier, the company said in its regulatory filing.

(LEAD) Police raid Korean Air over alleged fund misappropriation

SEOUL -- Police said they raided the headquarters of South Korea's top airline on Friday as part of a probe into alleged misappropriation of company funds for its chairman's personal purpose.

The National Police Agency sent investigators to the main office of Korean Air Lines Co. in western Seoul to confiscate evidence, including accounting books and contract documents, it said.

N. Korea slams U.N. sanctions at FAO meeting

SEOUL -- North Korea's chief delegate to a recent Food and Agriculture Organization (FAO) meeting has condemned the U.N.'s sanctions as an act threatening its sovereignty and economic development, the country's official news wire said Friday.

The head of the DPRK delegation made the criticism in an address at the 40th FAO conference in Rome on Tuesday, the Korean Central News Agency said in an English-language dispatch.

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