Go to Contents Go to Navigation

Yonhap News Summary

All Headlines 17:25 July 12, 2018

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

Moon says N. Korea denuclearization talks on right track

SINGAPORE -- Talks on ending North Korea's nuclear ambitions are on the right track despite possible difficulties down the road, South Korean President Moon Jae-in said Thursday, according to his top press secretary.

"Negotiations between North Korea and the United States are now on the right track," Moon was quoted as saying.

(News Focus) BOK locked in dilemma amid worsening economic forecasts

SEOUL -- South Korea's central bank earlier said with confidence that it may raise the policy rate one or two times this year on the back of clear signs of recovery in a bid to secure policy room to deal with a future economic cycle.

It hiked the rate by a quarter percentage point from a record low of 1.25 percent in November last year for the first time in more than six years, citing the steady pace of economic recovery.

Corporate watchdog chief vows to reform conglomerates, foster fair business practice

SEJONG -- The chief of the country's corporate watchdog said Thursday that reforming family-controlled business groups, dubbed chaebol here, and boosting fair business practice are key to creating a fair society.

"Reforming chaebols is one of key tasks to create a fair society and a fair economy," Kim Sang-jo, chairman of the Fair Trade Commission (FTC), said at a forum. "It is not easy, but doing nothing is giving favor to conglomerates," he said.

S. Korean foreign minister to visit London next week

SEOUL -- South Korean Foreign Minister Kang Kyung-wha will hold talks with her British counterpart in London next week on relations between the two nations and regional and global security issues, her ministry announced Thursday.

Kang plans to make her first trip there as Seoul's top diplomat from Tuesday.

Hyundai union warns U.S. auto tariffs could cost U.S. jobs

SEOUL -- Hyundai Motor Co.'s union on Thursday called on the U.S. government to exclude Korean carmakers from its plan to impose 25 percent tariffs on imported vehicles as it could lead to the loss of jobs at Hyundai's Alabama plant.

"If Hyundai Motor is blocked from exporting its vehicles from its domestic plants and its financial status deteriorates, it may have to shut down its U.S. plant, which has hired some 20,000 local workers since May 2005," the union said in a statement.

Senior N. Korean official heads home via Beijing

BEIJING -- A senior North Korean official in charge of the country's international relations apparently met with Chinese government officials in Beijing on Thursday on his way back home after a Cuba visit.

Ri Su-yong, vice chairman of Workers' Party of Korea and director of the communist party's international affairs department, stayed at the international airport here for three to four hours before flying to Pyongyang.

Hyundai Group gets initial gov't approval for memorial service in N. Korea

SEOUL -- Hyundai Group, a South Korean shipping-to-tourism conglomerate, said Thursday it has received initial approval from the government to hold a memorial service for its late Chairman Chung Mong-hun in North Korea next month.

Hyundai Group has held the memorial service for Chung, who spearheaded the now-suspended inter-Korean tour program at Mount Kumgang in North Korea, every year since August 2004, a year after his death on Aug. 4, 2003, a company spokesman said.

Two of ex-leader Park's 'doorknob trio' get prison terms for taking NIS money

SEOUL -- A Seoul court on Thursday handed down prison terms of 18 months to 2 1/2 years for two of the closest aides to former President Park Geun-hye and suspended the sentence for another on charges they took illicit funds from the spy agency and delivered them to Park.

The Seoul Central District Court sentenced Lee Jae-man, former presidential secretary for general affairs, to 18 months in prison and Ahn Bong-geun, Park's former secretary for public relations, to 2 1/2 years.

Jeong Ho-seong, another ex-presidential secretary, was sentenced to 10 months, suspended for two years.

Send Feedback
How can we improve?
Thanks for your feedback!