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Yonhap News Summary

All News 13:30 December 11, 2017

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

Moon, Xi to hold summit over N. Korea, bilateral ties this week

SEOUL, Dec. 11 (Yonhap) -- South Korean President Moon Jae-in will head to China this week for talks with Chinese President Xi Jinping that will focus on ways to denuclearize North Korea and improve the countries' bilateral ties, the presidential office Cheong Wa Dae said Monday.

The summit will be held Thursday, one day after the South Korean leader arrives in Beijing for a four-day state visit.

Seoul says its new sanctions highlight risks of doing biz with N.K.

SEOUL, Dec. 11 (Yonhap) -- South Korea said Monday that its latest unilateral sanctions on North Korea will help better implement a set of U.N. sanctions and raise awareness about the risks of doing business with the North.

Seoul announced Sunday its fresh sanctions on Pyongyang, blacklisting 20 North Korean entities and 12 individuals suspected of assisting the North's nuclear and missile programs. The move came less than two weeks after the North fired a new intercontinental ballistic missile (ICBM) on Nov. 29.

Seoul shares turn lower in late morning trading

SEOUL, Dec. 11 (Yonhap) -- South Korean stocks turned lower late Monday morning as foreigners continued to sell local stocks on profit-taking.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.10 points, or 0.17 percent, to 2,459.90 as of 11:20 a.m. The main index opened up 3.81 points at 2,467.81.

Arrest warrant sought for former finance minister over NIS fund scandal

SEOUL, Dec. 11 (Yonhap) -- Prosecutors sought an arrest warrant for former Finance Minister Choi Kyung-hwan on Monday over the allegations that he took bribes from the spy agency during the preceding Park Geun-hye administration.

Choi, currently a lawmaker of the main opposition Liberty Korea Party, is suspected of having pocketed 100 million won (US$92,000) from the National Intelligence Service in 2014.

(LEAD) S. Korea, U.S., Japan hold anti-missile drill
(ATTN: UPDATES throughout with SLBM activity, other details; ADDS photo)

SEOUL, Dec. 11 (Yonhap) -- South Korea said Monday it has started a joint missile tracking exercise with the United States and Japan amid speculation that North Korea may soon test a submarine-launched ballistic missile (SLBM).

The two-day drill is taking place in waters near the peninsula and Japan, the first trilateral military operation since the North's firing of the Hwasong-15 intercontinental ballistic missile (ICBM) in late November, according to the Joint Chiefs of Staff (JCS).

(LEAD) S. Korea's exports fall 1.5 pct in Dec. 1-10
(ATTN: ADDS more details in paras 4-6)

SEJONG, Dec. 11 (Yonhap) -- South Korea's exports declined 1.5 percent during the first 10 days of December on-year, due to a slump in shipments of auto and wireless telecommunication equipment, and shorter working days, data showed Monday.

A total of goods worth US$12.7 billion were shipped overseas from Dec. 1-10, according to the data from the Korea Customs Service.

Trump nominates Cha as U.S. ambassador to S. Korea: sources

WASHINGTON, Dec. 10 (Yonhap) -- U.S. President Donald Trump has nominated former White House official Victor Cha as Washington's ambassador to South Korea and requested the approval of the Asian country's government, sources said Sunday.

The request, known as an agreement, was recently sent to the South Korean government following an extensive vetting process, the sources said on the condition of anonymity.

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