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Yonhap News Summary

Yonhap News Summary 12:28 October 30, 2018

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


N. Korea yet to answer Seoul's offer on art troupe performance in Oct.

SEOUL -- North Korea has yet to respond to South Korea's offer of details regarding a North Korean art troupe's performance in Seoul, which their leaders have agreed to hold in October, a unification ministry official said Tuesday.

"We are now waiting (for North Korea's answer)," the official told reporters on condition of anonymity. "I want you to understand that consultations on schedules and others are currently under way."


KRX operates emergency team to respond to market volatility

SEOUL -- South Korea's bourse operator said Tuesday it has set up and is running an emergency team to boost monitoring of the stock market in the wake of the recent rout.

Chaired by the vice chief of the KOSPI Division, the team is tasked with keeping close tabs on market developments and checking relevant factors on a real-time basis for better responses to volatility, according to the Korea Exchange (KRX).


Education minister reaffirms resolve to eradicate corruption at private kindergartens

SEOUL -- Education Minister Yoo Eun-hae stressed Tuesday the government will go ahead with its plan to root out irregularities in private preschools despite their operators' threat of collective action.

She made the remark during a meeting with related government bodies, including the anti-trust watchdog and tax agency, to discuss steps to tighten regulations on kindergartens.


Moon to kick off series of regional trips to boost local economies

SEOUL -- President Moon Jae-in will kick off a series of regional visits across the country with a trip to the southwestern city of Gunsan on Tuesday as part of efforts to help boost regional economies, his spokesman said.

"Beginning with a visit to North Jeolla Province on Oct. 30, President Moon will travel to cities and provinces across the nation one by one," presidential spokesman Kim Eui-kyeom said in a statement. "This is part of efforts to breathe vigor into the regions and help them take the initiative in pushing forward with development strategies."


Fuel tax cut to go into effect next week

SEJONG -- The government's proposed tax cut on fuel products that aims to ease pressure on small businesses and ordinary people will go into effect next week, the finance ministry said Tuesday.

Oil prices are hovering above US$80 per barrel, and domestic fuel prices have recently risen sharply, raising concerns that the spike in costs may put a damper on Asia's fourth-largest economy.


S. Korea, U.S. to hold annual defense talks in Washington this week

WASHINGTON -- South Korea and the United States will hold their annual defense ministers' talks in Washington this week over a range of bilateral issues, such as the transfer of wartime operational control (OPCON), Seoul officials said Monday.

Defense Minister Jeong Kyeong-doo and his U.S. counterpart, James Mattis, will attend the 50th Security Consultative Meeting (SCM) on Wednesday as the allies seek to stay on the same page to achieve the final, fully verified denuclearization of North Korea.


Pompeo likely to meet N.K. counterpart in U.S. next week: source

WASHINGTON -- U.S. Secretary of State Mike Pompeo is likely to meet with his North Korean counterpart in the U.S. next week, a South Korean diplomatic source said Monday, as the two sides push to arrange a second summit between their leaders.

Pompeo said in an Oct. 19 interview with the Voice of America that he hoped to have talks with his North Korean counterpart "in the next week and a half or so" to continue discussions on the North's denuclearization and the potential summit.


Park Sung-hyun falls from No. 1 in women's golf rankings

SEOUL -- South Korea's Park Sung-hyun has slipped from the No. 1 ranking in the women's world golf rankings.

Park fell a spot to No. 2 in the latest rankings announced Tuesday, with Ariya Jutanugarn of Thailand taking her place at the top.

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