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Yonhap News Summary

Yonhap News Summary 13:01 November 28, 2018

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

(LEAD) Moon, Trump to meet at G20 summit: White House

WASHINGTON -- South Korean President Moon Jae-in and U.S. President Donald Trump will meet on the sidelines of a Group of 20 summit in Argentina this week, the White House said Tuesday.

Moon is among several leaders the U.S. president plans to meet during the two-day summit starting Friday, U.S. National Security Adviser John Bolton said at a press briefing.

(LEAD) CIA official in charge of Korea to depart at year-end: sources

WASHINGTON/SEOUL -- A senior U.S. Central Intelligence Agency official in charge of Korea affairs will resign at the end of the year, multiple sources said Tuesday.

Andrew Kim, head of the CIA's Korea Mission Center, has tendered his resignation effective Dec. 20 to move to a research post at Stanford University, a senior official at South Korea's National Intelligence Service said.

N.K. leader willing to allow nuke site inspection: source

WASHINGTON/SEOUL -- North Korean leader Kim Jong-un has expressed a willingness to allow inspectors into the country's main nuclear complex, a senior diplomatic source said Tuesday, citing a message sent to U.S. President Donald Trump.

Kim earlier expressed a willingness to permanently shut down the site in Yongbyon if the U.S. took "corresponding" measures, but his apparent offer to allow verification has not been reported.

Additional sanction waivers necessary if Koreas to earnestly push for railway project: report

SEOUL -- Additional sanctions exemptions are necessary if South and North Korea are to push in earnest for a project to modernize and reconnect their cross-border railways, a U.N. official was quoted as saying Wednesday.

The reported remark by a Dutch diplomat leading the U.N. Security Council committee on North Korea sanctions means that a recent sanctions waiver granted by the council is limited to a joint railway survey the two Koreas are scheduled to undertake before launching the main construction.

Samsung BioLogics files administrative lawsuit against FSC ruling

SEOUL -- Samsung BioLogics Co. said Wednesday it has filed an administrative lawsuit against a recent ruling by the country's financial regulator that the company violated accounting rules.

Samsung BioLogics, the biotechnology unit of Samsung Group, also asked the Seoul Administrative Court to nullify penalties that were imposed by the Financial Services Commission (FSC) over the ruling.

FDI pledges to S. Korea hit all-time high

SEOUL -- New foreign direct investment (FDI) pledged to South Korea has surpassed the previous record high, led by rising interest in the nation's high-tech industries and startups in emerging sectors, government data showed Wednesday.

South Korea received US$23.04 billion worth of FDI commitments as of Tuesday, already breaking last year's $22.94 billion total, according to the Ministry of Trade, Industry and Energy.

S. Korea, Chile hold talks to update FTA

SEOUL -- South Korea and Chile opened their first round of talks Wednesday to revise their bilateral free trade agreement (FTA) to reflect changes in the market over the past 15 years, Seoul's trade ministry said Wednesday.

The bilateral pact went into effect in 2004 as South Korea's first FTA, opening up market access to Chile and setting the foundation for forging trade pacts with other Latin American nations.

S. Korean manufacturers' business outlook drops in Dec.

SEOUL -- South Korean manufacturing companies expect the business climate to worsen next month amid concerns over an economic downturn, a central bank poll showed Wednesday.

The business survey index (BSI) of manufacturers came to 71 for December, down one point from the previous month, according to the Bank of Korea (BOK).

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