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Yonhap News Summary

Defense 17:00 October 29, 2018

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

(2nd LD) Chinese warplane enters S. Korean air defense zone

SEOUL, Oct. 29 (Yonhap) -- A Chinese military aircraft entered South Korea's air defense domain without notice again Monday, prompting the Air Force here to scramble fighter jets as a warning, Seoul's defense authorities said.

The plane entered the Korea air defense identification zone (KADIZ) at around 10:03 a.m. and flew out of it about half an hour later toward Ieo Island, a Seoul-controlled submerged rock south of Jeju Island, according to the Joint Chiefs of Staff (JCS).

S. Korean economy faces strong downside risks: BOK chief

SEOUL -- South Korea's central bank chief said Monday that he will take all macroeconomic factors into account at the upcoming rate-setting meeting amid growing concerns over an economic downturn.

"It seems that the economy faces quite big downside risks," Bank of Korea Gov. Lee Ju-yeol said in a parliamentary session. "A rate-hike decision is based on every aspect of economy. The BOK is in close cooperation with the government in carefully watching all developments."

S. Korean economy to face rising economic uncertainties next year: finance minister

SEJONG -- South Korea's economy is expected to face growing economic uncertainties next year, with the government ready to take preemptive measures to reduce any possible downside risks, the country's chief economic policymaker said Monday.

"Given various factors such as external conditions, our economy may face growing uncertainties," Finance Minister Kim Dong-yeon said in a parliamentary audit session in Seoul.

(LEAD) Seoul shares drop below 2,000 mark on lack of momentum

SEOUL -- Seoul shares fell below the psychologically important 2,000 mark Monday as foreign and retail investors dumped stocks amid a lack of upside momentum. The won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 31.10 points, or 1.53 percent, to close at 1,996.05. It is the first time the main index has finished this low since closing at 1,991.89 on Dec. 7, 2016.

S. Korea's football governing body set to punish nat'l team defender for doctoring records

SEOUL -- South Korea's football governing body is set to punish a national team defender who was found to have doctored his community service records, an official said Monday.

A Korea Football Association (KFA) official said that the organization is taking steps to discipline Jang Hyun-soo, who recently admitted his wrongdoing after a lawmaker accused him of doctoring his community service records during a parliamentary audit meeting on the Military Manpower Administration.

Koreas looking to form joint youth club football team, take part in European competitions: official

CHUNCHEON, South Korea -- The chief of a Seoul-based inter-Korean sports exchange promotion group said Monday that the two Koreas are planning to form a joint youth club football team and take part in European competitions next year.

Kim Kyung-sung, who leads the South-North Korea Inter-Korean Sports Association, said that the plan to form a joint youth football team has been discussed with the North. His group is the main organizer of the Ari Sports Cup, the under-15 youth football tournament that aims to facilitate inter-Korean ties in sports.


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