Go to Contents Go to Navigation

Yonhap News Summary

Yonhap News Summary 17:09 October 17, 2018

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

S. Korea, U.S. working closely on inter-Korean road, rail project: Cheong Wa Dae

SEOUL -- The office of President Moon Jae-in said Wednesday that South Korea is working closely with the United States as it seeks to reconnect roads and railways across the border with North Korea.

Presidential spokesman Kim Eui-kyeom made the remark, rejecting a media report that Seoul and Washington are out of sync with each other on the road and rail project after the U.S. State Department said improvements in inter-Korean relations cannot move separately from resolving the North Korea nuclear issue.

Gen. Brooks says its 'encouraging' that DMZ talks with Koreas to go on

SEOUL -- The head of the United Nations Command (UNC) said Wednesday his troops will continue tripartite dialogue with South and North Korea on their agreement to turn the truce village of Panmunjom into a weapon-free zone, a highly symbolic measure to reduce tensions along the border.

Gen. Vincent K. Brooks, who also commands the U.S. Forces Korea, said the inaugural session of the three-way council a day earlier was encouraging.

(LEAD) Parliament approves three Constitutional Court justice candidates

SEOUL -- The National Assembly on Wednesday passed the confirmation motions for three Constitutional Court justice nominees following the nine-member panel's monthlong vacancy.

Parliament held a plenary session to vote on the proposals for the three candidates -- incumbent judges Kim Ki-young, Lee Jong-seok and Lee Young-jin -- one day after rival parties made a bipartisan agreement to put them up for a vote.

(LEAD) S. Korean military planes to operate in quake-hit Indonesia through next week

SEOUL -- South Korea said Wednesday it will extend the mission of two military jets in Indonesia hit by a powerful earthquake and ensuing tsunami.

The C-130 Hercules planes were dispatched to the central island of Sulawesi on Sept. 28 to support emergency aid supplies.

Taxi drivers to go on strike in protest of Uber-like carpool service

SEOUL -- Tens of thousands of taxi drivers in Seoul and the surrounding Gyeonggi Province plan to walk off the job on Thursday to hold a massive rally in protest of an Uber-like carpool service.

The taxi industry has strongly protested the planned launch of Kakao Carpool, a ride-sharing service designed to connect non-taxi drivers to passengers during morning and evening rush hours, claiming the service would kill the industry.

Hyundai Heavy workers stage partial strike over possible pay cut

SEOUL -- Unionized workers at Hyundai Heavy Industries Co. staged a partial strike Wednesday to protest a possible pay cut ahead a crucial decision by a labor relations commission, company and union officials said.

The unionized workers downed their tools at a shipyard in the industrial city of Ulsan, about 410 kilometers southeast of Seoul, at 1 p.m. with a four-hour strike also planned for Thursday.

Samsung Bioepis launches Imraldi biosimilar in Europe

SEOUL -- South Korean biopharmaceutical firm Samsung Bioepis Co. said Wednesday it has launched its biosimilar Imraldi in the European market.

Imraldi -- a copy of the autoimmune disease drug Humira -- will first be commercialized in Britain, France, Germany, Spain and Italy, Samsung Bioepis said. Its U.S. partner Biogen Inc. will be responsible for sales.

(LEAD) Seoul shares rise on upbeat U.S. earnings

SEOUL -- South Korean stocks advanced Wednesday as strong earnings data and economic indicators from the United States boosted investor sentiment. The local currency strengthened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index rose 22.39 points, or 1.04 percent, to close at 2,167.51. Trading volume was light at 266.4 million shares worth 4.64 trillion won (US$4.12 billion), with gainers overwhelming decliners 644 to 191.

Japanese rating agency ups rating on S. Korea by one notch

SEJONG -- Rating and Investment Information (R&I), a Japanese rating agency, on Wednesday raised South Korea's sovereign rating by one notch, citing the economic recovery, sound fiscal stance and eased North Korea-related tension.

The rating agency, one of Japan's most prominent, upgraded Seoul's rating to "AA-" from the previous "A+," the first raise since 2006, and said its outlook is stable.

(Yonhap Interview) N. Korea is welcome to join World Bank when ready: VP

SEOUL -- North Korea is welcome to join the World Bank (WB) as a member when it meets the international community's expectations for "peace and stability," one of the financial institution's senior officials said Wednesday.

Mahmoud Mohieldin, the World Bank Group's senior vice president, said Pyongyang will have to go through necessary procedures to get support from its 198 members and this would become possible only if it fulfills its denuclearization pledge.

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