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Yonhap News Summary

Yonhap News Summary 17:12 October 12, 2018

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

(2nd LD) Koreas to hold high-level talks next Monday

SEOUL -- The two Koreas will hold high-level talks next week on ways to implement their latest summit deal, Seoul's unification ministry announced Friday.

The two sides agreed to have the meeting Monday at the Peace House, a South Korea-controlled building in the truce village of Panmunjom, according to the ministry.

(LEAD) Regulator to conduct more inspections into accounting practices at big firms

SEOUL -- The financial regulator said Friday it will conduct more inspections into accounting practices at big companies as part of its efforts to toughen rules on corporate accounting standards.

In a report for a parliamentary audit, the Financial Supervisory Service (FSS) said big firms with assets worth more than 1 trillion won (US$880 million) accounted for 7 percent of the watchdog's annual inspections into accounting practices last year. The ratio rose to 20 percent this year, the FSS said.

Moon says N. Korean denuclearization includes giving up existing weapons

SEOUL -- South Korean President Moon Jae-in said Friday North Korea understands the need to give up its existing nuclear weapons to achieve complete denuclearization and says it will do so. The only remaining questions are when and how, he added.

"North Korea promised complete denuclearization. It said it will give up nukes for economic development. (It) promised that it has no reason whatsoever to possess nukes while facing difficulties, such as sanctions, as long as the safety of their regime is guaranteed," Moon said in an interview with Britain's BBC news.

Seoul shares rebound on eased trade tensions

SEOUL -- South Korean stocks on Friday rebounded from a more than 4 percent plunge the previous day as investors' sentiment recovered from eased U.S.-China trade woes. The local currency rose sharply against the U.S. dollar.

The benchmark Korea Composite Stock Price Index jumped 32.18 points, or 1.51 percent, to close at 2,161.85, marking the first positive finish in nine trading days.

(2nd LD) Parties give mixed assessments of Sept. job data

SEOUL -- Rival parties gave mixed assessments of the September job data, with the ruling party looking relieved at employment conditions not being the worst while the opposition blamed policy failures for still sluggish growth.

South Korea's jobless rate rose in September, but the number of new jobs improved after staying below 10,000 for two consecutive months, according to government data.

S. Korea, U.S. set for defense cost talks next week

SEOUL -- South Korea and the United States plan to hold another round of talks next week on sharing the cost of American troops here amid reports that the Trump administration is demanding a 50-percent hike in Seoul's burden.

The two-day session will open on Tuesday in Seoul, the eighth of its kind.

(Yonhap Interview) Photographer offers new immersive way of enjoying photography and music

SEOUL -- Stepping into Gallery Benro in central Seoul, big black-and-white portraits of hip hop musician and producer Ray Hill adorn the walls. In front of each photo are headsets on chairs.

The exhibition, "Human, SILENT PHOTOGRAPHY," by photographer and art director Hwang Pil-joo is not all about photography. It is a new experiment by the photographer to enhance his connection with his subject matter and present a different way of consuming art and music.

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