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Yonhap News Summary

Yonhap News Summary 18:35 November 27, 2018

The following is the first 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

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

The National Assembly's review of the government's 2019 budget proposal hit a snag as rival parties sparred over an estimated shortfall in tax revenue at a meeting of the subpanel on the budget.

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(LEAD) Hyundai launches Genesis G90 in S. Korea

SEOUL -- Hyundai Motor Co. on Tuesday launched the G90 sedan under the independent Genesis brand in South Korea, with a plan to introduce the flagship model in overseas markets next year.

The G90, the facelifted version of the EQ900, comes with a 3.3-liter gasoline turbocharged engine, a 3.8-liter gasoline engine or a 5.0-liter gasoline engine. It has the same eight-speed automatic transmission, Hyundai Motor said in a statement.

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S. Korea to launch small satellite this week

SEOUL -- South Korea is scheduled to launch its small satellite from an Air Force base in the United States later this week, Seoul's science ministry said Tuesday.

The Ministry of Science and the Korea Advanced Institute of Science and Technology (KAIST) said the Falcon 9 is scheduled to lift off at Vandenberg Air Force Base in California at 3:32 a.m. (local time) on Thursday with the aim of putting the satellite, the Next Sat-1, into orbit.

The 107-kilogram satellite, developed by KAIST from 2012-2017, will travel at an altitude of 575 km above the ground for the next two years to measure space radiation and observe stars' infrared rays, it said.

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(2nd LD) Quality of life is most important to people: finance minister

INCHEON -- South Korea's finance minister said Tuesday that the most important thing to people is their quality of life, adding that the country is focusing on boosting job creation and narrowing income inequality.

"The growing public interest in these statistics can be attributed to the current unemployment and income distribution situation in Korea. In the past, people used to focus mostly on the country's growth and export numbers," Finance Minister Kim Dong-yeon said in a speech at the OECD World Forums on Statistics, Knowledge and Policy in Incheon, west of Seoul.

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(LEAD) Prosecutors raid Gyeonggi governor's home, office to search for criminal evidence

SUWON, South Korea -- Prosecutors on Tuesday raided Gyeonggi Province Gov. Lee Jae-myung's office and home, apparently to search for his wife's old mobile phone believed to hold crucial evidence in investigations into her suspected role in political slander.

Prosecutors and investigators from the Suwon District Prosecutors' Office began the raid on Lee's home in Seongnam, south of Seoul, at around 9 a.m.

About the same time, another group of prosecutors searched Lee's office in Suwon in the presence of the governor and his lawyer.

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(LEAD) President Moon heads to Czech Republic en route to G-20 summit

SEOUL -- President Moon Jae-in left the country Tuesday on a three-nation tour that will take him to Argentina for the annual Group of 20 summit.

The president will first head to the Czech Republic, where he will make an unofficial visit before heading to Buenos Aires on Wednesday.

In Prague, the president will hold a summit with Prime Minister Andrej Babis.

Moon will arrive in Argentina on Thursday for a three-day visit that will include a bilateral summit with his Argentine counterpart, Mauricio Macri. It will mark the first South Korea-Argentina summit in 14 years, according to Moon's presidential office Cheong Wa Dae.

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K-pop superstar BTS to promote Hyundai Palisade SUV

SEOUL -- Hyundai Motor Co. said Tuesday it has named K-pop superstar BTS as brand ambassadors of its upcoming flagship Palisade SUV set to be unveiled at the Los Angeles Auto Show later this month.

BTS will promote the Palisade SUV at the auto show Wednesday (U.S. time) by starring in a special introduction video, Hyundai Motor said in a statement.

Hyundai said BTS will also be participating in the "Always Remarkable" global campaign to promote the Palisade, which is named after the Pacific Palisades.

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(LEAD) N. Korea's sports minister in Japan for Olympics-related session

TOKYO -- North Korea's sports minister arrived in Tokyo on Tuesday to attend a meeting on the Olympics, local media reported.

Kim Il-guk, who also serves as the president of the communist nation's Olympic Committee, plans to join the two-day session of the Association of National Olympic Committees (ANOC) to open here on Wednesday.

The Japanese government allowed him to enter the country as an "exception" to far-reaching sanctions against Pyongyang for its nuclear and missile programs, according to Chief Cabinet Secretary Yoshihide Suga.

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(LEAD) S. Korea decides to buy more Israeli-made early warning radar equipment

SEOUL -- South Korea decided Tuesday to purchase two more Israeli-made early warning radar systems as part of efforts to bolster its air defense, Seoul's arms procurement agency said.

Seoul's defense project promotion committee approved the project worth 330 billion won (US$292 million) to buy Green Pine Block C radar systems produced by ELTA, a subsidiary of the defense firm Israel Aerospace Industries, the Defense Acquisition Program Administration (DAPA) said.
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