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Yonhap News Summary

Yonhap News Summary 17:05 October 24, 2018

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

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(2nd LD) Financial support, tailored measures eyed to boost investment, create more jobs

SEJONG -- South Korea's government said Wednesday that it will provide more financial assistance and tax incentives to boost sluggish facility investment, accelerate deregulation, stimulate innovation-led growth and create jobs.

The finance ministry said the current slump in the job market and facility investment could further worsen down the road due to the deepening trade war between China and the United States, a slowing down of China's economy and rising oil prices.

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Seoul stocks again drop to one-year low on tech, bio losses

SEOUL -- South Korean stocks went further south Wednesday after reaching a yearly low in the previous session as foreigners and individuals dumped large-cap tech and bio shares. The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 8.52 points, or 0.4 percent, to close at 2,097.58. Trading volume was moderate at 373.7 million shares worth 5.89 trillion won (US$5.2 billion), with losers overwhelming winners 607 to 242.

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(Yonhap Interview) U.N. refugee chief asks S. Koreans to be more hospitable to asylum seekers

SEOUL -- The top United Nations official on refugees on Wednesday encouraged South Koreans to be "more hospitable" to asylum seekers to match a consistent rise in the government's financial contributions to refugee causes.

The government's handling of hundreds of Yemeni people marked a "positive" step, at least in the short and immediate term, although they were not granted the refugee status, Filippo Grandi, U.N. high commissioner for refugees (UNHCR), said.

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(LEAD) S. Korean business people to visit now-suspended factory park in N. Korea: official

SEOUL -- South Korean business people who ran factories in the Kaesong Industrial Complex are pushing to visit the now-suspended industrial park in the North Korean border town next week at the earliest, a government official said Wednesday.

Baek Tae-hyun, a spokesman of the Ministry of Unification, said that the Seoul government is discussing with North Korea details of the South Korean business owners' visit to Kaesong.

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(2nd LD) LG Display net profit plunges in Q3

SEOUL -- South Korean display maker LG Display Co. said Wednesday its third-quarter net profit fell sharply from a year earlier, although it managed to return to an operating profit on foreign exchange gains and a slight increase in LCD panel prices.

Net profit came to 17.5 billion won (US$15.4 million), down 96.33 percent from a year earlier, the company said in its regulatory filing.

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Main opposition LKP to unveil road map for peace with N. Korea

SEOUL -- The main opposition Liberty Korea Party will unveil its own road map for peace with North Korea, its leader Kim Byong-joon said Wednesday.

Kim made the remark in a YouTube video clip on his 100th day in office, stressing that the party is not raising objections against the government's handling of relations with the North just for the sake of raising objections.

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Seoul approves 9.78 bln won for renovation of inter-Korean liaison office

SEOUL -- South Korea will spend 9.78 billion won (US$8.64 million) from the Inter-Korean Cooperation Fund to finance the renovation and repair of the Inter-Korean Liaison Office in the North Korean border town of Kaesong, the Ministry of Unification said Wednesday.

The expenditure plan was approved at the 298th meeting of the Inter-Korean Exchange and Cooperation Promotion Council, as the renovation and repair of the liaison office was completed as of the end of September.

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(Movie Review) 'Rampant' is predictable Joseon-era superhero blockbuster

SEOUL -- "Rampant" has a promising premise -- eerie zombies take over the streets of the Joseon Dynasty (1392-1910), plunging the country into chaos. But it is a bland film that is marred by a predictable plot and cardboard characters.

Directed by Kim Sung-hoon of "Confidential Assignment" (2017), the new film has Hyun Bin, the star of the 2017 movie, as Lee Cheong. Lee is a Joseon prince and martial arts expert returning from captivity in the Chinese Qing Empire after the death of his crown prince brother.

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