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Yonhap News Summary

All Headlines 13:52 April 16, 2018

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

South-North summit to set denuclearization of N. Korea in motion

SEOUL -- The upcoming summit between South Korean President Moon Jae-in and North Korean leader Kim Jong-un will be a historical event all in itself and even more so as it will likely set the tone for the following U.S.-North Korea summit, which in turn could finally get the process of denuclearizing the communist state moving forward.

The Moon-Kim meeting is set to be held on April 27. It will mark the third inter-Korean summit following the top-level meetings held in 2000 and 2007.

(LEAD) Finance minister urges quick passage of extra budget bill

SEOUL -- South Korea's chief economic policymaker on Monday urged the National Assembly to quickly approve a proposed extra budget bill that is urgently needed to tackle the country's chronic youth unemployment problem.

Early this month, the government unveiled a set of measures, including bolder financial and tax incentives and the use of a 3.9 trillion-won (US$3.64 billion) extra budget, to respond to the high jobless rate among young people. The government submitted the supplementary budget proposal to the National Assembly on April 5.

(LEAD) S. Korean Kim Si-woo loses PGA tournament in playoff

SEOUL -- South Korean Kim Si-woo has let a PGA Tour win slip through his grasp in South Carolina, blowing a lead late before losing in a playoff.

Kim lost to Satoshi Kodaira of Japan on the third playoff hole at the RBC Heritage at Harbour Town Golf Links in Hilton Head, South Carolina, on Sunday (local time). After squandering a two-stroke lead late in the final round, Kim missed his birdie attempt at the third playoff hole, where Kodaira made a birdie.

Gov't to keep growth of household debt to below 8.2 pct in 2018

SEOUL -- The government plans to keep the growth rate of household debt to below 8.2 percent this year by taking a set of steps to curb excessive lending, the nation's top financial regulator said Monday.

Outstanding household debt stood at 1,450.9 trillion won (US$1.35 trillion) in the fourth-quarter of last year, up 8.1 percent from a year earlier, according to the data by the Bank of Korea. It marked the slowest pace since the first quarter of 2015.

Ruling party expels two members suspected of online comment rigging

SEOUL -- The ruling Democratic Party (DP) decided Monday to expel two members involved in an online opinion rigging scandal amid fears that the scandal could negatively affect its preparations for the June local elections.

The party's Supreme Council also agreed to form a fact-finding panel to look into the scandal so as to "restore the honor of the party members," party officials said.

Korean Air says it will take 'proper' steps regarding errant heiress

SEOUL -- Korean Air Lines Co., said Monday that it will take "proper steps" to deal with an executive and daughter of the company's chairman for her latest alleged misbehavior after the results of the ongoing probe are released.

South Korea's national flagship carrier did not elaborate on what steps it will take.

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