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Yonhap News Summary

Yonhap News Summary 15:29 October 18, 2018

The following is the first summary of major stories moved by Yonhap News Agency on Thursday.

Trump says U.S. unlikely as venue of 2nd N.K. summit

WASHINGTON, Oct. 17 (Yonhap) -- U.S. President Donald Trump said his second summit with North Korean leader Kim Jong-un is unlikely to be held in the United States, although it may happen in the future.

Trump reaffirmed in an interview with the AP Tuesday that the meeting will take place after the U.S. midterm elections on Nov. 6. He said he wanted to first "help people get elected."

EU's call for CVID no different from S. Korea's 'complete denuclearization' goal: Cheong Wa Dae

SEOUL, Oct. 18 (Yonhap) -- The European Union's call for "complete, verifiable and irreversible denuclearization" (CVID) of North Korea is no different from South Korea's goal to achieve "complete denuclearization," the presidential spokesman said Thursday.

South Korea has used the expression "complete denuclearization" to describe its goal in the North Korean nuclear issue apparently in consideration of Pyongyang's aversion to CVID, which was first proposed by the administration of former U.S. President George W. Bush.

S. Korea, China to hold talks on denuclearizing N. Korea

SEOUL, Oct. 18 (Yonhap) -- Top South Korean and Chinese nuclear envoys will hold talks this week on ways to denuclearize North Korea and bring lasting peace to the peninsula, Seoul's foreign ministry said Thursday.

Lee Do-hoon, the ministry's representative for Korean Peninsula peace and security affairs, is scheduled to meet his counterpart Kong Xuanyou in Beijing on Friday.

(3rd LD) BOK freezes key rate at 1.5 pct for Oct.

SEOUL, Oct. 18 (Yonhap) -- South Korea's central bank on Thursday held its policy rate untouched for October on worsening economic data and low inflation pressure.

The monetary policy board of the Bank of Korea (BOK) voted to freeze the policy rate at 1.5 percent for the 11th straight month.

(LEAD) BOK cuts S. Korea's growth forecast to 2.7 pct for 2018

SEOUL, Oct. 18 (Yonhap) -- The Bank of Korea (BOK) on Thursday revised down its earlier economic growth forecast for South Korea to 2.7 percent for 2018 due to heightening economic uncertainties over trade tensions.

In the monetary policy meeting for October, the central bank cut 0.2 percentage point from its earlier growth outlook of 2.9 percent announced in July.

(3rd LD) Gov't to focus on boosting jobs, innovation-led growth: finance minister

SEJONG, Oct. 18 (Yonhap) -- The government plans to increase spending to create more jobs, boost innovation-led growth, narrow income inequality and expand the social safety net in the face of rising uncertainties, the country's economic policy chief said Thursday.

In a policy report to the National Assembly, the ministry said it would implement a set of policies as planned in the future to improve job market conditions and provide support for the underprivileged.

(2nd LD) S. Korea avoids being labeled currency manipulator by U.S.

WASHINGTON/SEOUL, Oct. 17 (Yonhap) -- South Korea on Wednesday avoided being labeled a currency manipulator by the United States but remained on a list of countries to monitor.

The U.S. Department of the Treasury wrote in a semiannual report to Congress that it determined six major trading partners warranted attention to their currency practices. None met the criteria for a currency manipulator.

(LEAD) Hyundai, Kia reviewing U.S. request to testify on engine fires

SEOUL, Oct. 18 (Yonhap) -- Hyundai Motor Co. and Kia Motors Corp., South Korea's two biggest carmakers by sales, said Thursday they are reviewing a U.S. request to testify in regards to engine fires in their cars next month.

Hyundai and Kia's U.S. operations received the request from the Senate Commerce Committee to appear at a hearing on Nov. 14 on reports of engine fires in their vehicles. Management is "currently reviewing" the request, a Hyundai spokesman said over the phone.

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