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Yonhap News Summary

All News 17:10 August 07, 2018

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

(LEAD) U.N. guidelines expected to boost S. Korea's aid plan for N. Korea

SEOUL -- New U.N. guidelines on humanitarian aid for North Korea are expected to provide a much-needed boost to efforts to help the country's people in need, government officials here said Tuesday.

In New York, the U.N. Security Council approved the U.S.-drafted rules meant to facilitate assistance for the North's residents.

(2nd LD) Gov't denies report of ship carrying N. Korean coal

SEOUL -- The South Korean government on Tuesday dismissed a report that another foreign vessel carrying North Korean coal has entered a southeastern port in the country, potentially in breach of U.N. Security Council sanctions.

VOA, a U.S.-based broadcaster, reported earlier that a Belize-flagged ship, the Jin Long, docked at South Korea's southeastern port of Pohang on the weekend and is still believed to be at the port. It cited the MarineTraffic vessel locating service.

(2nd LD) N. Korea repatriates S. Korean citizen: ministry

SEOUL -- North Korea repatriated a South Korean citizen Tuesday through the border village of Panmunjom in a "positive humanitarian" move, Seoul's unification ministry said.

In a message to Seoul a day earlier, Pyongyang claimed the 34-year-old, identified only by his surname Suh, illegally entered the country on July 22.

Ex-presidential chief of staff summoned in probe of top court power abuse scandal

SEOUL -- Prosecutors requested Tuesday a former presidential chief of staff appear for questioning this week regarding alleged power abuses involving the previous Supreme Court chief.

Prosecutors asked Kim Ki-choon, 79, who served as aide to ousted President Park Geun-hye, to present himself at the Seoul Central District Prosecutors' Office at 9:30 a.m. on Thursday.

(2nd LD) Moon calls for financial deregulation to allow market competition

SEOUL -- President Moon Jae-in on Tuesday called for steps to remove excessive and unnecessary regulations in the financial sector as a way of allowing new businesses, such as Internet-only banks, and increasing market competition that he said will eventually benefit consumers.

"Regulations can increase the value of a new industry but also prevent one," the president said in a special meeting to discuss government deregulation, especially in the banking sector.

(LEAD) KEPCO shares sink over cut in energy bills amid heat wave

SEOUL -- The state-run Korea Electric Power Corp. (KEPCO) has seen its share price plunge in recent trading sessions over a series of bad news, including the government's planned cut in electricity bills over a blistering heat wave, analysts said Tuesday.

Shares of KEPCO slipped 1.93 percent to finish at 30,450 won (US$27.1), this year's lowest, after Seoul announced measures to cut electricity prices for July and August, and expand discounts for lower-income families and households with infants. Over the past five sessions, the share price dived 7.02 percent.

(3rd LD) S. Korea to cut residential electricity bills for July-Aug.

SEOUL -- South Korea will adjust the residential progressive electricity tariffs for July and August to ease the household burden from heavy electricity bills caused by the unprecedented summer heat, the energy ministry said Tuesday.

The Ministry of Trade, Industry and Energy said it will temporarily upgrade the ceilings of the first two stages of the progressive tariffs for residential power use, which would save about 276.1 billion won (US$245.2 million), or about 20 percent of the total, in energy costs for the peak summer season.

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