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Yonhap News Summary

All Headlines 17:11 October 05, 2018

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

Court sentences former President Lee to 15 years in jail on corruption charges

SEOUL -- A Seoul court sentenced former President Lee Myung-bak to 15 years in jail and fined him 13 billion won (US$11.5 million) on multiple corruption charges Friday, making him the fourth ex-South Korean leader to be criminally convicted.

In the live televised trial, the court ruled Lee, 76, is the de facto owner of his brother's company, DAS, which is at the center of the the scandal. The court said he told DAS officials to create slush funds and are responsible for a range of irregularities involving the company. Lee has long been suspected of being its real owner.

(LEAD) Japan to skip fleet review ceremony amid flag row with S. Korea

SEOUL -- Japan has decided to skip an international naval event in South Korea next week amid a dispute over its plan to fly the Rising Sun flag, a Seoul government source said Friday.

Japan informed South Korea of the decision to not send a warship to the International Fleet Review to open for a five-day run at a military port on Jeju Island on Wednesday.

(LEAD) Lotte chief freed as appeals court suspends sentence

SEOUL -- Lotte Group Chairman Shin Dong-bin was released from jail on Friday after an appellate court suspended his sentence on bribery charges.

The Seoul High Court sentenced Shin, 63, to 2 1/2 years in prison, suspended for four years. Shin had been in a detention center since February over involvement in a corruption scandal that led to the ousting of former President Park Geun-hye last year.

(3rd LD) Samsung Electronics Q3 operating profit jumps 20.4 pct to hit record high

SEOUL -- Samsung Electronics Co. said Friday that its third-quarter operating profit moved up a sharp 20.4 percent on-year to hit a record high, apparently on the back of robust returns from its chip business.

Operating profit came to 17.5 trillion won (US$15.4 billion) in the July-September period, rising from 14.53 trillion won posted a year earlier, the South Korean tech giant said in a regulatory filing.

Seoul stocks end lower on U.S. rate hike

SEOUL -- South Korean stocks closed bearish on Friday as investors sought safer assets following the rate hike in the United States, analysts said. The South Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.97 points, or 0.31 percent, to close at 2,267.52. Trading volume was low at 276 million shares worth 6.1 trillion won (US$5.45 billion), with losers outnumbering gainers 564 to 271.

(3rd LD) Koreas hold first joint event to celebrate 2007 summit anniversary

SEOUL/PYONGYANG -- South and North Korea held their first-ever joint event to celebrate the anniversary of a 2007 summit in Pyongyang on Friday amid a growing mood of rapprochement.

About 160 South Koreans, including government officials, politicians, civic, religious and cultural figures, took part in the event in the People's Palace of Culture in the North's capital to commemorate the 11th anniversary of the second inter-Korean summit on Oct. 4, 2007, which involved then-South Korean President Roh Moo-hyun and then-North Korean leader Kim Jong-il.

Ex-chief of staff to Park sentenced to 1 1/2-year term in 'whitelist' scandal

SEOUL -- A Seoul court sentenced Kim Ki-choon, a former chief of staff to ousted President Park Geun-hye, to a 1 1/2-year prison term Friday for pressuring a major business lobby to provide funds to conservative organizations friendly to the Park administration.

The Seoul Central District Court also sentenced Cho Yoon-sun, a former culture minister and senior political affairs secretary to Park, to one year in prison, to be suspended for two years, for her role in having money funneled to pro-government organizations on the so-called whitelist.

After stellar postseason start, Dodgers' Ryu Hyun-jin says rehab was worth it

LOS ANGELES -- Los Angeles Dodgers' South Korean pitcher Ryu Hyun-jin has come a long way to reach where he was standing Thursday, in the afterglow of the best postseason start of his career.

Ryu twirled seven shutout innings of four-hit ball against the Atlanta Braves and helped the Dodgers to a 6-0 win to open the National League Division Series (NLDS) at Dodger Stadium on Thursday.

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