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Yonhap News Summary

All News 17:41 August 01, 2018

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

(LEAD) 1 S. Korean, 3 Filipinos held captive for nearly 1 month in Libya

SEOUL -- A South Korean man and three Filipinos have been held captive in Libya for 27 days by an unidentified armed group, a foreign ministry official said Wednesday.

The four were abducted at a water plant in Jabal Hasouna, the western region of Libya, on July 6, according to the official.

(LEAD) Seoul stocks close higher on hope over settlement of U.S.-China trade dispute

SEOUL -- South Korean stocks closed higher Wednesday as investors' sentiment was boosted by reports that the United States and China are currently carrying out a negotiation to settle the latest trade dispute, analysts said. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 11.81 points, or 0.51 percent, to close at 2,307.07. Trade volume was light at 214 million shares worth 4.7 trillion won (US$4.19 billion), with winners beating losers 601 to 220.

Vice unification minister visits N. Korea to examine preparations for family reunions

SEOUL -- Vice Unification Minister Chun Hae-sung visited North Korea on Wednesday to examine preparations for the upcoming reunion event for families separated by the 1950-53 Korean War.

Chun and eight other officials crossed the eastern border into the Mount Kumgang resort, a venue for the family reunions planned from Aug. 20-26.

(2nd LD) S. Korea logs highest-ever temperature of 40.3 C

SEOUL -- South Korea logged its highest-ever temperature of 40.3 C on Wednesday as a sweltering heat wave continued to grip wide areas of South Korea, weather authorities said.

The mercury hit the record high at an observatory in Hongcheon, a town in South Korea's northeastern province of Gangwon, at 2:20 p.m., marking the highest level since 1907, when the country began to compile the data, the Korea Meteorological Administration (KMA) said.

Carmakers' July sales fall 3 pct on weak overseas demand

SEOUL -- The combined sales of South Korea's five carmakers fell 3 percent last month from a year earlier as overseas demand remained weak, the companies said Wednesday.

The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a total of 639,099 vehicles in July, down from 658,939 units a year earlier, according to their monthly sales data.

Prosecutors open probe into Samsung BioLogics' alleged breach of closure rule

SEOUL -- Prosecutors opened an investigation on Wednesday into a financial regulator's complaint that a pharmaceutical affiliate of Samsung Electronics Co. breached disclosure rules regarding a call option it gave to an American shareholder, officials said.

The Securities and Futures Commission, under the Financial Services Commission, concluded last month that Samsung BioLogics deliberately did not disclose that it gave U.S. firm Biogen the rights to buy stocks of its subsidiary, Samsung Bioepis, at a predetermined price.

S. Korea to hold talks with Britain, Toshiba over nuclear project

SEJONG -- South Korea will push for talks with Britain and Japan's Toshiba Corp. over a nuclear power plant building project, an official said Wednesday.

The Japanese industrial giant has a 100 percent stake of the NuGen project and is in charge of a building project in Cumbria, northwest England.

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