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Yonhap News Summary

All Headlines 18:25 November 14, 2017

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

(LEAD) U.S. nuclear envoy hopes N. Korea not to start provocations

INCHEON -- The U.S. top nuclear envoy on Tuesday hoped North Korea "stays that way" of not carrying out provocations in order to create an environment for possible negotiations with Pyongyang on its missile and nuclear programs.

Joseph Yun, U.S. special representative for North Korea policy, made the remarks in response to a question that the past two months of no major provocations by the North could be seen as a good signal.

Korean Air Lines Q3 net dips on currency losses, THAAD row

SEOUL -- Korean Air Lines Co., South Korea's top airline, said Tuesday that its third-quarter earnings dropped 88 percent from a year earlier on currency-related issues.

The country's flag carrier logged a net profit of 62 billion won (US$55.5 million) in the July-September period, compared with a net profit of 511 billion won a year earlier, the company said in a regulatory filing.

MBC to get back to normal Wednesday as union ends strike

SEOUL -- Public broadcaster MBC is set to normalize most operations Wednesday when unionized workers end their strike following the dismissal of its embattled president.

For more than two months, thousands of union members staged a walkout, demanding the removal of President Kim Jang-kyom, who is accused of unfair interference in news coverage.

Maritime minister says N. Korea's return of S. Korean boat may be conciliatory move

SEOUL -- Oceans Minister Kim Young-choon on Tuesday interpreted North Korea's recent repatriation of a seized South Korean fishing boat as a "conciliatory gesture," as Seoul seeks to improve cross-border ties.

During a parliamentary session, Kim also dismissed speculation that Pyongyang captured the boat, 391 Hungjin, last month in a move to sow discord in South Korea's society long split over how to deal with the provocative regime.

Citibank Korea's net income slips 15.7 pct in Q3

SEOUL -- Citibank Korea Inc. said Tuesday its net profit for the third-quarter of this year dipped 15.7 percent on year, hit by a slight decline in interest income.

Citibank Korea, the South Korean unit of Citigroup Inc., posted a net profit of 55.1 billion won (US$49.3 million) for the July-September period, compared to a profit of 65.3 billion won a year earlier.

In the first nine months of this year, Citibank Korea's net profit rose 9.3 percent on year to 172.2 billion won, the bank said in a statement.

S. Korea expects to see tax revenue top yearly target

SEJONG -- South Korea's finance ministry said Tuesday that the government expects to see its tax revenue easily surpass the yearly target in 2017 making it possible to repay state bonds earlier than planned.

"The tax income is expected to reach slightly more than 260 trillion won (US$232.5 billion) this year," Finance Minister Kim Dong-yeon said in a parliamentary session in Seoul. "The government is seeking various ways to use the surplus including the repayment of Treasurys."

Hyundai Motor to co-chair global initiative for hydrogen development

SEOUL -- Hyundai Motor Co., South Korea's top auto maker, said Tuesday it has been tapped to co-lead a global initiative to promote hydrogen as an alternative energy for transport and other industries.

The Hydrogen Council was launched in Davos, Switzerland, in January, with the aim of boosting investment in the development and commercialization of the hydrogen and fuel cell sectors.

During its second general meeting, which was held in Bonn, Germany, on Monday, the council elected Hyundai Motor to co-chair the council with France's Air Liquide, according to the South Korean company.


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