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Yonhap News Summary

Yonhap News Summary 13:30 October 26, 2018

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

(LEAD) Koreas hold general-grade talks over enforcement of military agreement

PANMUNJOM/SEOUL, Oct. 26 -- The Koreas held general-grade military talks Friday over the enforcement of last month's agreement aimed at reducing tensions and preventing accidental clashes, Seoul's defense ministry said.

The talks were held at Tongilgak, a North Korean building in the truce village of Panmunjom inside the Demilitarized Zone (DMZ) separating the Koreas, at 10 a.m. Major Gen. Kim Do-gyun led the South's delegation, while the North was represented by Lt. Gen. An Ik-san.

(LEAD) Regulator seeks to shore up investor confidence as stocks tumble

SEOUL, Oct. 26 -- South Korea's top financial regulator said Friday that the country's equity market volatility is slightly higher than other Asian markets, but there is "no problem" in the system's fundamental soundness.

Choi Jong-ku, chairman of the Financial Services Commission (FSC), made the remarks at a parliamentary audit meeting as he reassured investors amid a sharp decline in stock prices.

(LEAD) Kia swings to net profit in Q3 due to base effect

SEOUL -- Kia Motors Corp., an affiliate of Hyundai Motor Co., said Friday it swung to a net profit in the third quarter from a year earlier due to a low base effect.

For the three months ending Sept. 30, Kia posted a profit of 297.74 billion won (US$262 million) from a net loss of 291.77 billion won a year ago, the company said in a statement.


Court holds hearing to decide on ex-judge's arrest

SEOUL, Oct. 26 (Yonhap) -- A Seoul court held a hearing Friday to decide whether to issue an arrest warrant for a former senior judge accused of suspected illicit lobbying and trial manipulation that involved a former Supreme Court chief justice.

Lim Jong-hun, former deputy head of the National Court Administration (NCA), the top court's governing body, arrived at the Seoul Central District Court at around 10:10 a.m. Prosecutors filed the writ request Tuesday.

(LEAD) SsangYong Motor Q3 net losses widen on weak exports

SEOUL -- SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Friday its third-quarter net losses widened compared to a year earlier on weak exports.

Net losses for the July-September quarter deepened to 18.23 billion won (US$160 million) from 17.69 billion won the previous year, the company said in a statement.

(Yonhap Feature) Michelin Guide Seoul creates divisive culinary star war

SEOUL -- True to form the latest Michelin Guide Seoul recommends the best places to eat in South Korea's capital city with posh five-star hotel restaurants to small noodle places being lauded for their culinary excellence and service.

Its third edition, which once again demonstrated its love for local cuisine, the guide gave half of its 26 stars to restaurants serving Korean food, whether they are purely traditional or sprinkled with contemporary flare.

(Yonhap Feature) Yemeni refugees yearn for peaceful life in Korea

JEJU ISLAND, South Korea -- Nearly two years after Esmail Alqublani escaped from a war-ravaged Yemen, his memories of plundering, bombings, kidnappings and slayings by armed rebels in the central city of Ibb are still haunting him.

The 30-year-old former journalist can hardly imagine a return to the scene of the grinding conflict cited as the world's worst humanitarian crisis -- a reason why he has been desperately seeking refugee status in Korea since his arrival on the southern island of Jeju in May.

(2nd LD) U.S. sanctions 2 Singapore firms, individual over N. Korea

WASHINGTON -- The United States on Thursday sanctioned two Singapore-based firms and an individual over their alleged money laundering on North Korea's behalf.

The Department of the Treasury said it is targeting Wee Tiong, a commodities trading company, WT Marine, a marine fuels company, and Tan Wee Beng, a Singaporean national who serves in senior positions in both firms.

The designations are the latest action taken by the U.S. to enforce United Nations sanctions on North Korea and squeeze the regime into giving up its nuclear weapons and ballistic missile programs.



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