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Yonhap News Summary

All Headlines 13:30 May 17, 2018

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

S. Korea forms task force to prepare joint events with N.K. to mark summit anniversary

SEOUL -- South Korea has formed a task force to arrange joint events with North Korea to celebrate their first summit meeting held in 2000, a unification ministry official said Thursday.

The task force is composed of officials from the ministry handling inter-Korean affairs and other relevant government agencies, along with members from civic groups, according to the official.

Seoul share trade flat in late-morning trade

SEOUL -- Trade in South Korean stocks was nearly flat late Thursday morning as blue-chip shares saw mixed trade in different sectors.

The benchmark Korea Composite Stock Price Index (KOSPI) edged down 2.6 points, or 0.11 percent, to 2,457.22 as of 11:20 a.m.

S. Korea's auto exports fall 8 pct in April

SEOUL -- South Korea's automobile exports slipped in April from a year earlier on tepid sales in the North American market and General Motors Co.'s cutting back production ahead of a planned plant shutdown, government data showed Thursday.

South Korea exported 220,273 vehicles worth $3.55 billion last month, down 8 percent compared with a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy.

S. Korean NSC urges N. Korea to faithfully implement summit agreements

SEOUL -- South Korea's National Security Council (NSC) on Thursday called on North Korea to faithfully implement agreements for denuclearization and peace reached at the recent inter-Korean summit, one day after the communist state abruptly called off a high-level meeting largely aimed at discussing ways to implement the summit agreements.

"Members of the NSC standing committee discussed future steps in regard to North Korea's decision to postpone the high-level South-North dialogue scheduled for May 16. While reaffirming their stance that the Panmunjom Declaration reached at the April 27 South-North Korea summit must be carried out without any disruption, the members agreed to continue consulting with the North side to hold the high-level talks at an early date," the presidential office Cheong Wa Dae said.

(LEAD) Xi emphasizes friendship 'sealed in blood' with N.K.

SEOUL/BEIJING -- Chinese President Xi Jinping has met with visiting North Korean ruling party officials and emphasized the importance of advancing a friendship "sealed in blood" between the two countries, the North's state-run media reported Thursday.

The group led by Pak Thae-song, a member of the Political Bureau and vice chairman of the Central Committee of the Workers' Party of Korea, arrived in Beijing on Monday. He is accompanied by senior party officials representing major provinces and cities.

(2nd LD) Seoul to regularly reveal FX intervention records

SEJONG -- South Korea will reveal its records on currency market intervention biannually for one year and then switch to quarterly disclosures as part of efforts to minimize any negative impact on the market, the finance ministry said Thursday.

The disclosures will be made within three months after a reporting period, and the net amount of U.S. dollars used for selling and buying by the country's currency authorities will be disclosed, according to the ministry. The quarterly releases will begin in the third quarter of 2019.

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