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Yonhap News Summary

Diplomacy 17:03 November 30, 2018

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

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S. Korean president to advocate free trade at G-20 summit

BUENOS AIRES -- South Korean President Moon Jae-in was set to attend the Group of 20 summit in Buenos Aires on Friday, with free trade, inclusive growth and Korean peace on his priority agenda.

Moon is scheduled to deliver a keynote speech at the first session of the two-day summit of the leaders of the world's largest economies. He arrived here Thursday following his two-day visit to Prague.

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(LEAD) S. Korean shares end lower on tech losses

SEOUL -- South Korea's main bourse ended lower Friday as foreigners turned net sellers by offloading tech shares amid uncertainties over the U.S.-China trade summit this week. The won fell against the dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 17.24 points, or 0.82 percent, to 2,096.86. Trading volume was moderate at 413.39 million shares worth 6.92 trillion won (US$6.2 billion), with decliners outnumbering gainers 447 to 365.

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S. Korea, U.S. to hold high-level economic talks next month

SEOUL -- South Korea and the United States will hold a high-level economic dialogue in Washington next month, a Seoul government official said Friday.

Seoul's Vice Foreign Minister Lee Tae-ho and Manisha Singh, U.S. assistant secretary of state for economic and business affairs, will lead the Senior Economic Dialogue (SED) next Friday. It will be the first such talks since the Moon Jae-in administration was launched in May last year.

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Ministry to hold forum on cooperation among S. Korea, China, Japan next week

SEOUL -- South Korea will hold a semi-governmental forum on cooperation with China and Japan next week, Seoul's foreign ministry said Friday, as long-simmering historical feuds remain a major hurdle to improving their relations.

The forum on the present and future of trilateral cooperation is set to occur on Monday in Incheon, west of Seoul. It will bring together civilian experts and working-level government officials from the three countries.

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S. Korean delegation to visit UAE to discuss nuclear project

SEOUL -- A South Korean delegation will visit the United Arab Emirates (UAE) next week to discuss the operational plan for the Middle Eastern nation's first nuclear power plant, the energy ministry said Friday.

Senior officials from the Ministry of Trade, Industry and Energy and state-run utility firms, including the Korea Electric Power Corp. (KEPCO) and Korea Hydro & Nuclear Power (KHNP), will visit the UAE from Dec. 3-6 to discuss issues related to the Barakah nuclear power plant.

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Mortgage burden likely to get heavier as BOK lifts key rate

SEOUL -- Households may have to cope with higher mortgage rates as the Bank of Korea (BOK) raised its key interest rate for the first time in a year, market watchers said Friday.

In a widely anticipated move to cool property prices, the BOK lifted its key rate by 25 basis points to 1.75 percent earlier in the day.
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