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Yonhap News Summary

Yonhap News Summary 17:30 November 05, 2018

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

(LEAD) Seoul stocks end lower on trade woes, uncertainties

SEOUL -- South Korean stocks ended lower Monday as investors remained cautious ahead of the midterm elections and the interest rates decision in the United States amid lingering concerns over global trade disputes, analysts said. The local currency weakened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index shed 19.08 points, or 0.91 percent, to 2,076.92. Trading volume was a bit thin at 353.46 million shares worth 4.83 trillion won (US$4.3 billion), with losers overwhelming winners 546 to 297.

(2nd LD) S. Korea granted waiver on Iran oil embargo: news reports

SEOUL -- South Korea has received a waiver on the renewed U.S. embargo on imports of Iranian oil following months of negotiations between the allies, foreign media reported Monday.

The United States reimposed the oil sanctions against Tehran at the start of the day (Eastern Standard Time), a follow-up to President Donald Trump's decision in May to ditch a 2015 nuclear deal signed by his predecessor, Barack Obama.

(3rd LD) Koreas begin joint waterway survey along western border

SEOUL -- The Koreas began a joint survey of a waterway along their western border Monday to jointly use the estuaries of the Han and Imjin rivers, where civilian access has been restricted due to military tensions, Seoul's defense ministry said.

Under the September inter-Korean military accord, they will conduct it until the end of the year to militarily guarantee the safety of the estuaries so that they can be used for tourism, ecological protection and the collection of construction aggregate.

USFK chief voices U.S. support for inter-Korean military accord

SEOUL -- Outgoing U.S. Forces Korea (USFK) Commander Gen. Vincent Brooks voiced U.S. support for the September inter-Korean military accord in a rare contribution to a South Korean military periodical published on Monday.

In the autumn edition of the periodical by Seoul's Joint Chiefs of Staff, Brooks commented on the confidence-building measures stipulated in the accord, saying they would help pave the way for a lasting peace on the peninsula.

(LEAD) Greater fiscal role needed to tide over economic uncertainties: finance minister

SEJONG -- South Korea's chief economic policymaker said Monday that a greater fiscal role is necessary to tackle mounting economic uncertainties, create more jobs and address other chronic challenges.

"Recently, our economy is faced with many difficulties ... and an active fiscal role is necessary," Finance Minister Kim Dong-yeon said in a speech at a parliamentary budget committee, urging the National Assembly to approve the record high budget spending proposal.

(LEAD) Imported car sales jump 24 pct on new models in Oct.

SEOUL -- South Korea's imported vehicle sales jumped 24 percent in October from a year earlier on high demand for new models, industry data showed Monday.

The total number of newly registered foreign vehicles climbed to 20,813 last month from 16,833 a year ago, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement.

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