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Yonhap News Summary

Yonhap News Summary 16:40 January 22, 2019

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

(LEAD) Seoul shares fall on worries over global, China slowdown

SEOUL-- South Korean stocks fell Tuesday after the International Monetary Fund (IMF) cut its outlook for 2019, triggered by China's weakest growth in nearly three decades, analysts said. The local currency lost against the greenback.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.84 points, or 0.32 percent, to finish at 2,117.77. Trading volume was moderate at 414.45 million shares worth 4.83 trillion won (US$4.27 billion), with losers outnumbering gainers 452 to 360.

S. Korean men's handball team returns after competing at worlds with N. Koreans

INCHEON -- The South Korea men's handball squad returned home Tuesday after competing at the world championships on a historic unified team alongside North Korean athletes.

There were 16 South Koreans and four North Koreans at the International Handball Federation (IHF) World Men's Handball Championship, co-hosted by Germany and Denmark. Coached by South Korean Cho Young-shin, the joint Korean team finished 22nd among 24 participants.

(2nd LD) LG Uplus pushes to complete 5G network in major cities this year

SEOUL -- LG Uplus Corp., South Korea's No. 3 mobile carrier, said Tuesday it will complete building its 5G infrastructure in major cities by the end of 2019 to get ahead in the next-generation wireless network market.

Following the launch of the world's first 5G network with SK Telecom Co. and KT Corp. in December, LG Uplus vowed to speed up the establishment of its 5G network and create various content and services on the new platform.

U.S. officers charged for smuggling marijuana

JEONJU, South Korea -- Two noncommissioned U.S. officers have been arrested for smuggling marijuana worth millions of won into the country, the local prosecutors office said Tuesday.

They are accused of secretly bringing in 30 cartridges of marijuana worth 1.26 million won (US$1,110) in September last year and storing 31 pieces of jelly-style marijuana at an air base in Gunsan, 270 kilometers southwest of Seoul, where they are serving, the Jeonju District Prosecutors' Office said.

One in 10 migrant workers in S. Korea experience workplace violence: poll

CHANGWON, South Korea -- More than one in 10 migrant workers in South Korea experience workplace violence, a poll showed Tuesday.

The poll of 320 migrant workers in South Gyeongsang Province found that 13.1 percent, or 42 people, had experience of being assaulted in the workplace.

President Moon to send holiday gifts to 10,000 people

SEOUL -- President Moon Jae-in will send holiday gifts to about 10,000 people to celebrate the upcoming Lunar New Year's Day, his office Cheong Wa Dae said Tuesday.

The gifts will be offered to various people, ranging from social service workers and national heroes to armed service members stationed near the inter-Korean border to elders who live alone.

(LEAD) Court suspends FSC's penalties on Samsung BioLogics

SEOUL -- A Seoul court approved Tuesday a request by Samsung BioLogics Co. to put on hold the execution of penalties by the financial watchdog for the company's suspected accounting irregularities.

The Seoul Administrative Court accepted Samsung's argument that enforcing the penalties before a formal court ruling can cause unrecoverable damage to the firm.

Stock repurchase by KOSDAQ-listed firms jumps in 2018: data

SEOUL -- Share buybacks by South Korean firms listed on the country's secondary bourse more than doubled last year as they sought to reduce supply and raise stock prices amid a bearish market, data showed Tuesday.

A total of 206 KOSDAQ-listed firms bought back their own shares worth 1.17 trillion won (US$1.03 billion) in 2018, compared with equities worth 546.4 billion won bought by 135 firms in the previous year, according to data from the Korea Exchange (KRX).

Over 80 pct of foreigners have positive national image of S. Korea: poll

SEOUL -- More than eight out of 10 foreigners have a positive national image of South Korea, a survey released by the government showed Tuesday.

According to an online survey of 8,000 people in 16 countries, including South Korea, 80.3 percent of foreign respondents evaluated South Korea's national image positively.

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