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Yonhap News Summary

All News 13:00 July 02, 2018

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

Koreas to push in earnest for peace, prosperity in autumn summit: Seoul official

SEOUL -- South and North Korea will focus on fostering peace and prosperity on the Korean Peninsula and preparing a framework for sustainable development in their bilateral ties when their leaders meet in the autumn summit, Seoul's unification minister said Monday.

Unification Minister Cho Myoung-gyon said that the South Korean government will make continued efforts to significantly upgrade the inter-Korean relations by accelerating the implementation of the agreement reached by President Moon Jae-in and North Korean leader Kim Jong-un in their historic summit in April.

S. Korea steps up effort to win Saudi Arabia's nuclear project

SEOUL -- South Korea's government said Monday it will step up collaboration with the local nuclear industry to boost the country's chances to win Saudi Arabia's nuclear project after the state-run Korea Electric Power Corp. (KEPCO) was shortlisted along with four other bidders.

Saudi Arabia selected five countries -- South Korea, the United States, France, Russia and China -- as preferred bidders for the kingdom's first nuclear project, the Ministry of Trade, Industry and Energy said.


Military unit suspected of involvement in ferry sinking aftermath

SEOUL -- The Defense Security Command is suspected of involvement in the handling of the aftermath of a 2014 ferry disaster, a defense ministry team tasked with investigating the unit's alleged political interference said Monday.

The team found that the command ran a 60-member task force for nearly six months from April 2014 for a range of activities, including an apparent mission to foster public opinion in favor of the then-conservative government.

President Moon returns to work after sick leave

SEOUL -- President Moon Jae-in has fully recovered from the sickness that forced him to stay away from work last week and returned to work early Monday, the presidential office Cheong Wa Dae said.

"President Moon came to the office at 9 a.m., and is currently holding a daily meeting with his staff," a Cheong Wa Dae official told reporters.

S. Korean bourse forecast to stay range-bound in H2

SEOUL -- South Korea's stock market is expected to remain range-bound in the second half of the year due to a possible slowdown in the country's economic growth, asset managers said Monday.

The benchmark Korea Composite Stock Price Index (KOSPI) has been volatile in recent weeks amid negative external factors. The local bourse closed last week on a weaker note, overwhelmed by a possible trade war between the United States and other economies like the European Union and China, with the KOSPI ending at 2,326.13 points Friday, down 1.32 percent from a week ago.

N.K. leader Kim visits textile plants, chastens workers for not working hard

SEOUL -- North Korean leader Kim Jong-un has chastened workers for not working hard enough during his recent trip to textile factories in a northwestern border town, its state media reported Monday.

Kim made the on-site inspections of two textile plants located in Sinuiju, accompanied by senior officials of the ruling Workers' Party of Korea, according to the Korean Central News Agency (KCNA).

S. Korean Park Sung-hyun captures 2nd career LPGA major

SEOUL -- South Korea's Park Sung-hyun has captured her second career LPGA major title in a playoff, punctuating an impressive final-round comeback that featured an outstanding recovery shot late in regulation play.

Park defeated fellow South Korean Ryu So-yeon and Japanese teenager Nasa Hataoka in a playoff to claim the weather-interrupted KPMG Women's PGA Championship at Kemper Lakes Golf Course in Kildeer, Illinois, on Sunday (local time).

Bolton unveils plan to denuclearize N. Korea in 1 year

WASHINGTON -- U.S. National Security Adviser John Bolton said Sunday that the Trump administration plans to push for dismantling North Korea's nuclear weapons program within a year.

Bolton unveiled the plan during an interview with CBS, saying U.S. Secretary of State Mike Pompeo will take the lead on the issue.

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