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Yonhap News Summary

All Headlines 17:00 April 13, 2018

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

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(LEAD) GM Korea getting ready to file for court receivership this month

SEOUL -- GM Korea Co., the South Korean unit of General Motors Co., has started making preparations to file for court receivership later this month, as it is undergoing a cash crisis and the union has rejected restructuring measures, industry sources said Friday.

"GM Korea is expected to apply for bankruptcy protection around April 20, as it has warned that if its union does not accept drastic restructuring measures, the carmaker is likely to gradually shut its production facilities while only leaving the design, research and development, sales and services operations in Korea," a person familiar with the matter told Yonhap News Agency over the phone.

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U.S. demands S. Korea share cost of deploying strategic assets around peninsula: official

SEOUL -- The United States has demanded South Korea share the cost of deploying U.S. strategic assets around the Korean Peninsula during recent talks to renew their cost-sharing agreement for American troops stationed here, a foreign ministry official said Friday.

Seoul rejected the request saying the issue should not be part of the negotiation.

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President holds rare talks with main opposition leader over N. Korea summit

SEOUL -- President Moon Jae-in held a rare meeting Friday with the head of the main opposition Liberty Korea Party (LKP) for what his aides called discussions on ways to successfully hold the upcoming summit with North Korean leader Kim Jong-un.

The meeting between Moon and LKP leader Hong Joon-pyo was held at the presidential office Cheong Wa Dae at 2:30 p.m., according to a Cheong Wa Dae official.

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Seoul to discuss currency market intervention report with IMF next week

SEOUL -- South Korea will discuss currency market-related issues, such as how to reveal records of its market interventions, with the International Monetary Fund (IMF) next week, the country's chief economic policymaker said Friday.

Seoul's finance ministry said earlier that South Korea is considering disclosing details of its interventions in the foreign exchange market in a move to boost transparency and clear itself of suspicion of influencing exchange rates.

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