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Yonhap News Summary

All Headlines 17:03 December 08, 2017

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

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(3rd LD) Moon urges efforts to build 'stronger' military to deter N. Korean provocations

SEOUL -- President Moon Jae-in called on his top military officers Friday to build up the country's defense capabilities to overwhelm and prevent North Korea from making any reckless provocations.

During a meeting with some 150 military commanders, he also directed them to prepare for an early transfer of wartime operational control of South Korean troops from the United States.

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U.S. still open to dialogue with N.K. after pause in weapons testing: envoy

WASHINGTON -- The United States would still be open to having dialogue with North Korea if the regime stopped its weapons testing and stated its willingness to hold talks, Washington's envoy on its nuclear issue said Thursday.

Tensions rose again after North Korea last week launched a new intercontinental ballistic missile it said was capable of striking all parts of the U.S. with a nuclear weapon.

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Prosecutors again seek arrest warrant for ex-Moon aide over bribery

SEOUL -- Prosecutors said Friday they have filed for an arrest warrant for Jun Byung-hun, former senior secretary to President Moon Jae-in, for a second time over a bribery scandal involving his former aides.

The Seoul Central District Prosecutors' Office investigating the case said they filed for a writ against Jun on charges of bribery, embezzlement and abuse of power.

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Parliament approves bill to increase local tax for HNB cigarettes

SEOUL -- South Korea's parliament passed a bill Friday to raise the local tax on heat-not-burn (HNB) tobacco products amid a dispute over whether they should be treated differently from conventional cigarettes.

The revision bill calls for increasing the local consumption tax rate for such products -- such as Phillip Morris' iQOS and British American Tobacco's Glo -- to 89 percent of the tax levied on ordinary cigarettes.

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(LEAD) Police raid Seoul tax office in probe over Samsung's alleged secret financial accounts

SEOUL -- Police said Friday they raided the Seoul headquarters of the National Tax Service (NTS) as part of a probe into allegations that the owner family of Samsung Group has additional financial accounts under borrowed names other than the ones revealed during a 2008 special prosecution probe into Samsung chief's slush funds.

The special investigation unit of the National Police Agency said they sent investigators to obtain related evidence.

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Park Ji-sung vows to develop S. Korea's youth football with European experience

SUWON -- South Korean football icon Park Ji-sung said Friday that he will devote himself to his new job as the chief of the country's youth football program with his European experience.

Park was named the Korea Football Association's youth strategy department chief last month. It was the first time the 36-year-old took an official position within the KFA.

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S. Korea to prepare for new global banking rules

SEOUL -- South Korea will closely examine the impact of new global regulations for banks and spare no efforts to adopt them without a hitch, the nation's financial regulator said Friday.

Global financial regulators agreed on the new banking regulations, known as Basel III, in Frankfurt on Thursday, the Basel Committee on Banking Supervision said in a statement.
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