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Yonhap News Summary

All Headlines 17:02 April 12, 2018

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

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Prosecution begins probe into FSS chief over lobbying allegations

SEOUL -- Prosecutors said Thursday they will investigate the head of the country's financial watchdog over allegations that he went on overseas business trips offered by various financial institutions when he was a lawmaker.

Kim Ki-sik, governor of the Financial Supervisory Service (FSS), took trips paid for by the Korea Exchange and Woori Bank, in 2014 and 2015.

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Prosecutors raid two Samsung offices in anti-labor union probe

SEOUL -- Prosecutors on Thursday raided two regional offices of Samsung Electronics Co.'s after-services unit and residences of its officials as part of a probe into their suspected attempts to sabotage labor union activities.

The Seoul Central District Prosecutors' Office sent investigators to the sites, located in Busan and Gyeonggi Province, to confiscate evidence, including related documents and computer hard disks, the prosecution said.

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Moon says success of upcoming summit with N. Korea requires all-out efforts

SEOUL -- President Moon Jae-in sought to rally public support for his upcoming dialogue with North Korean leader Kim Jong-un Thursday, saying it would require all-out efforts on all sides to ensure success in the rare opportunity to ease tension between the two Koreas.

"Now the South-North summit will be held in about half a month. A North-U.S. summit is also scheduled to be held thereafter. They will be once-in-a-life time chance to completely denuclearize the Korean Peninsula, establish permanent peace and move toward sustainable development of South-North Korea relations," the president said while meeting with a group of 21 advisers, including his special security adviser Moon Chung-in.

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S. Korea, U.S. closely coordinating for summits with N. Korea

SEOUL -- South Korea and the United States are closely coordinating through diverse channels for the success of their planned summits with North Korea, the foreign ministry said Thursday.

"The government is making utmost efforts so as to accomplish desired results in the forthcoming inter-Korean summit with regard to denuclearization and other various issues," ministry spokesman Noh Kyu-duk said in a press briefing.

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(LEAD) Justice Party joins calls for FSS chief to resign

SEOUL -- The far-left Justice Party on Thursday joined other opposition parties in demanding the resignation of Financial Supervisory Service (FSS) chief Kim Ki-sik under fire for a series of alleged missteps during his stint as a lawmaker years ago.

The minor party has so far been closely aligned with the ruling liberal Democratic Party on various high-stakes issues, ranging from economic policies to security and inter-Korean ties.

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(LEAD) Seoul stocks retreat on geopolitical risks

SEOUL -- South Korean stocks closed a volatile session on a downbeat note on Thursday as escalating tensions in Syria and lingering economic uncertainties eroded investor confidence. The Korean won weakened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 1.51 points, or 0.06 percent, to close at 2,442.71. Trade volume was moderate at 436.10 million shares worth 8 trillion won (US$7.48 billion), with gainers outnumbering losers 415 to 408.

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