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Yonhap News Summary

Politics 17:00 November 13, 2018

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

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Finance minister calls on parliament to approve record budget proposal

SEJONG -- South Korea's chief economic policymaker on Tuesday urged parliament to approve a record budget proposal for 2019, stressing that the budget approval is necessary to help resolve chronic problems such as low birth rate and dismal job conditions.

Finance Minister Kim Dong-yeon paid a visit to floor leaders of the ruling and opposition parties and expressed hopes that the 2019 budget proposal will be passed before the legally set deadline that falls on December 2.

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(LEAD) Gov't to establish anti-espionage intelligence-sharing center

SEOUL -- The Cabinet approved a measure authorizing the establishment of an anti-espionage intelligence-sharing center and designating the justice ministry and the customs service as counter-espionage agencies.

The move is part of efforts to strengthen the country's overall anti-espionage system in response to ever-sophisticating foreign intelligence activities infringing upon national security and interests, the government said.

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KDB expresses regrets over GM Korea's refusal of talks with union

SEOUL -- The state-run Korea Development Bank (KDB) on Tuesday expressed regrets after GM Korea refused to hold three-way talks with its labor union and the KDB over the carmaker's controversial plan to spin off its research unit.

The KDB, GM Korea's second-largest shareholder, proposed holding the talks last week to normalize operations, but the carmaker rejected the proposal. Instead, GM Korea proposed holding one-on-one talks with the KDB.

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Hyundai, Vodafone sign deal for connected car services in Europe

SEOUL -- Hyundai Motor Group, South Korea's top automotive conglomerate, has partnered with Vodafone Group Plc to start providing connected car services in Europe next year, the company said Tuesday.

Hyundai signed a memorandum of understanding with Vodafone at the British telecom company's headquarters in Newbury on Monday to offer connected car services through Vodafone's Internet of Things platform to customers who purchase the group's vehicles in eight European countries beginning in 2019, the company said in a statement.

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Ruling, minor party's chiefs vow efforts to swiftly pass bill on drunk driving

SEOUL -- The chiefs of the ruling Democratic Party (DP) and the leftist Justice Party on Tuesday vowed efforts to quickly pass a bill aimed at toughening punishment on drunk drivers.

Lee Hae-chan, the DP's chairman, and Lee Jeong-mi, the chairwoman of the Justice Party, made the remarks at separate meetings with friends of Yoon Chang-ho, who died last week after being in a coma since September when he was hit by a drunk driver in the southern port city of Busan.

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(LEAD) Seoul stocks close lower on Wall Street losses

SEOUL -- South Korean stocks ended lower Tuesday as foreign investors dumped large-cap shares following overnight Wall Street losses, analysts said. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) declined 9.21 points, or 0.44 percent, to close at 2,071.23. Trade volume was moderate at 376 million shares worth 5.6 trillion won (US$5.2 billion), with losers outnumbering gainers 487 to 347.

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Cinema attendance drops 34.8 pct on-year in October

SEOUL -- The cumulative number of moviegoers in South Korea dwindled 34.8 percent in October from a year before as the long fall harvest holiday fell a month earlier this year.

Movie theaters logged a total of 14.07 million admissions last month, down 34.8 percent from 2017, with their sales falling 31.6 percent to 119.6 billion won (US$105.69 million), according to a monthly report from the Korean Film Council.

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Seoul to host ISO/IEC JTC 1's general meeting in 2021

SEOUL -- South Korea will host a plenary meeting of the ISO/IEC JTC 1 for 2021, the government said Tuesday.

The Ministry of Science and ICT said the 39th plenary meeting will bring together 32 member states, as well as chiefs of major international organizations, to develop worldwide information and communications technology (ICT) standards for business and consumer applications.
(END)

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