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Yonhap News Summary

Yonhap News Summary 13:30 November 02, 2018

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

(LEAD) Financial market volatility may expand further: BOK chief

SEOUL -- South Korea's central bank chief said Friday that the local financial market will likely face wider volatility in the coming months due to lingering uncertainties abroad.

With global financial markets, including Wall Street suffering a stock rout, the benchmark Korea Composite Stock Price Index nose-dived 14.8 percent in October alone, and the secondary index for the tech-laden KOSDAQ market plummeted 23.4 percent.

(LEAD) S. Korea analyzing soil sample from N.K.'s nuclear test site: lawmakers

SEOUL -- South Korea's spy agency is analyzing a soil sample collected from around North Korea's nuclear test site, which Pyongyang demolished in May, lawmakers said Friday.

In a briefing to the parliamentary intelligence committee this week, the National Intelligence Service (NIS) also said it is monitoring North Korean leader Kim Jong-un's health through a 3-D video analysis program, according to the committee members.

S. Korea spends 82.8 pct of state budget through Sept.

SEJONG -- South Korea spent 82.8 percent of its state budget earmarked for 2018 in the first nine months as it moved to maintain its recovery pace and create more jobs, the finance ministry said Friday.

The government spent 232 trillion won (US$206 billion) in the January-September period, up 10.3 trillion won, or 3.7 percentage points, from the planned outlay of 221.7 trillion won, according to the Ministry of Economy and Finance.

Police raid venture entrepreneur's home, offices over alleged abuse of employees

SUWON, South Korea -- Police raided the home and offices of a venture entrepreneur Friday after videos surfaced of him harshly treating employees, such as beating and having them kill live chickens with a crossbow.

One of the two viral videos, disclosed by an independent news outlet, showed Yang Jin-ho, chairman of online storage service provider WeDisk and robot developer K-Technology, cursing and slapping an employee in the face and having him kneel and apologize in an office.

N. Korea slams Japan over U.N. human rights resolution

SEOUL -- North Korea's media lambasted Japan on Friday for submitting a new U.N. human rights resolution against its regime, saying that it is a plot to tarnish the North's reputation and kill its socialist system.

In a commentary, the Rodong Sinmun, the official newspaper of the North's ruling party, also emphasized that Pyongyang would not give in to any such outside pressure.

(LEAD) Koreas hold meeting of liaison office chiefs amid delayed cross-border projects

SEOUL -- South and North Korea held a meeting of liaison office chiefs Friday amid worries over a delay in some of their agreed-upon joint projects, the unification ministry said.

Vice Unification Minister Chun Hae-sung and his North Korean counterpart, Jon Jong-su, are meeting at the liaison office in the North's border town of Kaesong, according to the ministry. The meeting started at around 10 a.m.

(LEAD) U.S. says sanctions on N. Korea will remain in place

WASHINGTON -- The United States said Thursday that sanctions on North Korea will remain in place until it gives up its nuclear weapons program, remarks following North Korean leader Kim Jong-un's sharp rebuke of "vicious sanctions."

The two sides have been working to implement a deal reached by U.S. President Donald Trump and Kim to achieve "complete" denuclearization of the Korean Peninsula.


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