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Yonhap News Summary

Yonhap News Summary 17:59 November 26, 2018

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

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(LEAD) Seoul shares close higher on bargain hunting

SEOUL -- The South Korean stock market rebounded Monday after falling for four consecutive sessions last week as investors went bargain hunting for underestimated shares, analysts said. The South Korean currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) shot up 25.54 points, or 1.24 percent, to 2,083.02. Trading volume was light at 231.5 million shares worth 4.33 trillion won (US$3.83 billion), with gainers outnumbering losers 631 to 205.

Analysts said Seoul shares gained ground as institutions scooped up shares.

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(2nd LD) Chinese aircraft enters S. Korea's air defense zone

SEOUL -- A Chinese military airplane entered South Korea's air defense identification zone (KADIZ) without notice on Monday, less than a month after the last such reported intrusion, Seoul's military authorities said.

The Air Force deployed some 10 fighter jets to track the aircraft and send a warning message to the aircraft, the Joint Chiefs of Staff (JCS) said.

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Pompeo: U.S. to be patient on N. Korea amid firm sanctions

SEOUL -- U.S. Secretary of State Mike Pompeo said his country's administration will be patient in dealing with North Korea as long as it stays away from nuclear and missile tests.

Another key factor in relations with Pyongyang is to maintain the economic sanctions against it that have caused it to engage in negotiations, the secretary told a U.S. news outlet, according to a transcript released by his department Monday.

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S. Korea's economy to grow 2.6 pct in 2019: KIET

SEOUL -- South Korea's economy is expected to grow 2.6 percent in 2019 due to slowing exports and weak domestic demand, a state-run think tank said Monday.

The Korea Institute for Industrial Economics & Trade (KIET) also lowered this year's gross domestic product (GDP) outlook to 2.7 percent, down from 3 percent growth released in June.

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Seoul needs to reassure N.K. denuclearization is right way to go

SEOUL -- South Korea should show North Korea possible economic incentives it could get in exchange for giving up its nuclear program so as to reassure Pyongyang that denuclearization is the right way to go, the unification minister said Monday.

"It is necessary for us to show that we are actually moving in that direction so as to reassure that denuclearization is the right way to go," Cho Myoung-gyon told a local meeting in Seoul, referring to a possibility of economic development that would follow the North's denuclearization.

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Seoul, Beijing to jointly study fine dust

BEIJING/SEOUL -- The capital cities of South Korea and China agreed Monday to launch a joint research group to study ways to tackle the growing threats from fine dust particles, officials said.

The municipalities of Seoul and Beijing reached the agreement during a bilateral climate environment forum held in the Chinese capital in the afternoon.

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(LEAD) Two Koreas jointly list traditional wrestling as UNESCO heritage

SEOUL -- "Ssireum," traditional Korean wrestling dating to the Three Kingdoms period (A.D. 220–280), was inscribed Monday as an intangible cultural asset by UNESCO's World Heritage Committee, the Cultural Heritage Administration (CHA) said.

The decision was made during the 13th session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage, currently taking place in Port Louis, Mauritius.
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