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Yonhap News Summary

All News 14:16 July 11, 2017

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

(LEAD) N. Korea yet to obtain missile re-entry technology: spy agency

SEOUL -- North Korea has yet to fully secure the development of an intercontinental ballistic missile (ICBM) as it remains still unknown whether the country's recently fired ballistic missile successfully re-entered the atmosphere, a lawmaker said Tuesday quoting the spy agency.

North Korea claimed that it has developed an ICBM that could carry a large-size nuclear warhead, but it appears to be an unsubstantiated boast, Rep. Yi Wan-young of the Liberty Korea Party said after a parliamentary meeting with officials from the National Intelligence Service (NIS).

(LEAD) Moon urges opposition parties to approve extra budget

SEOUL -- President Moon Jae-in again urged the opposition parties Tuesday to approve the government's request for an extra budget, calling it an urgent issue imperative to the economic recovery.

"At the Group of 20 summit, all international organizations, including the Organization for Economic Cooperation and Development, diagnosed the global economy as being in a recovery phase," the president said in a Cabinet meeting, according to pool reports.

Moon delays appointment of new ministers to get opposition support

SEOUL -- President Moon Jae-in has decided to delay his appointment of two ministers opposed by opposition parties for last-minute efforts to win their support and also help normalize the parliament crippled partly by the proposed appointments, the presidential office Cheong Wa Dae said Tuesday.

The decision followed a request from the ruling Democratic Party, whose floor leader Woo Won-shik stressed the importance of the opposition's support for many pending issues, including the government-requested supplementary budget.

S. Korea's exports, investment up, consumption down

SEJONG -- The South Korean economy is experiencing a feeble recovery as brisk exports and investment were offset by flaccid private consumption and weak service sector growth, a government report said Tuesday.

"On the back of an upturn in global trade, upbeat exports and investment pushed up the South Korean economy to a large extent, while domestic demand remained weak due to sluggish private consumption and service sector output," the finance ministry said in its monthly economy assessment report called the "Green Book."

Russia's oil shipments to N. Korea on sharp increase

SEOUL -- Russia's oil exports to North Korea sharply increased in the first four months of the year amid the international community's sanctions on the country, a U.S. broadcaster said Tuesday.

Russia shipped US$2.3 million worth of oil products to North Korea between January and April, up more than 200 percent on-year, Voice of America said, citing Russian customs data.

(LEAD) Head of N.K. missile development agency promoted after ICBM test

SEOUL -- The head of North Korea's missile development agency has been promoted to a colonel general after the country's first test of an intercontinental ballistic missile (ICBM), an analysis of media reports showed Tuesday.

Jang Chang-ha, president of the Academy of National Defense Science, was seen sitting next to leader Kim Jong-un at a performance with his military rank being raised by one notch from lieutenant general, according to Yonhap News Agency's analysis on photos carried by state media.

S. Korea's tax revenue remains upbeat through May

SEJONG -- South Korea continued to enjoy an overflow in tax income through the first five months of the year on a steady hike in corporate and value added taxes, the government said Tuesday.

The government collected 123.8 trillion won (US$93.1 billion) in dues in the January-May period, up 11.2 trillion won from a year earlier, according to the Ministry of Strategy and Finance.

U.S. aims to put N.K. sanctions resolution to vote within weeks: report

WASHINGTON -- The United States aims to put to a vote a U.N. resolution imposing stronger sanctions on North Korea within weeks, a news report said Monday.

According to Reuters, U.S. Ambassador to the U.N. Nikki Haley told some U.N. diplomats about the plan late last week, after North Korea test-fired an intercontinental ballistic missile on Tuesday.

KTO says number of foreign tourists could drop by millions this year

SEOUL -- The number of foreigners visiting South Korea could drop by as many as 4.69 million this year, following a diplomatic row with China over the deployment of a U.S. missile defense system here, the state-run tourism promotion body said Tuesday.

During a meeting with local governments and district tourism offices, the Korea Tourism Organization (KTO) said visitor numbers could shrink up to 17.24 million, or 27.2 percent on-year, if the current trend continues until the end of this year.

State audit agency asks for probe over duty-free licensing

SEOUL -- South Korea's state audit agency on Tuesday requested that the prosecution probe the customs service over a suspected illicit selection of duty-free operators in 2015.

The Board of Audit and Inspection (BAI) raised suspicions that the Korea Customs Service (KCS) arbitrarily applied rules to eliminate Hotel Lotte Co. from receiving a license to run a duty-free store in Seoul in its July and November biddings.

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