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Yonhap News Summary

Yonhap News Summary 17:16 January 30, 2019

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

(3rd LD) Moon's confidant gets 2-year prison term for opinion rigging

SEOUL -- A confidant of President Moon Jae-in was found guilty Wednesday of involvement in a massive rigging of comments on Internet news articles aimed at swaying public opinion in favor of Moon ahead of the 2017 presidential election.

The Seoul Central District Court sentenced South Gyeongsang Province Gov. Kim Kyoung-soo to two years in prison for colluding with a power blogger to carry out the illicit cyber operation.

(LEAD) President Moon meets special advisers on ways to boost growth

SEOUL -- President Moon Jae-in held a special meeting Wednesday with his top economic advisers as part of his apparent efforts to keep the local economy from slowing down.

The meeting was held over lunch at the presidential office Cheong Wa Dae and was attended by Moon's new special adviser for science and economy, Lee Jeong-dong, and the new vice chair of the National Economic Advisory Council, Lee Jay-min.

(LEAD) Ex-short track coach sentenced to 18 months for assaulting athletes

SUWON -- Former national short track speed skating coach Cho Jae-beom was sentenced to 18 months in prison on Wednesday over repeated assaults against Olympic champion Shim Suk-hee and other athletes.

The Suwon District Court in Suwon, 45 kilometers south of Seoul, handed down the sentence in an appeals trial. Cho had earlier received a 10-month term, against which he unsuccessfully appealed.

(LEAD) Gov't issues higher alert on FMD

SEJONG -- South Korea on Wednesday issued a higher alert amid concerns over foot-and-mouth disease (FMD) spreading in the country.

The Ministry of Agriculture, Food and Rural Affairs said it increased the severity of the alert, to the second-highest level, after two FMD cases were reported in Anseong, 80 kilometers south of Seoul.

(2nd LD) LG Display 2018 net swings to loss on softening LCD prices

SEOUL -- South Korean display maker LG Display Co. said Wednesday its net earnings swung to a loss last year due to a drop in large LCD panel prices.

The company, which has vowed to speed up the transition from LCD to OLED panels this year, logged 179 billion won (US$160 million) in net deficit in 2018, compared with a net profit of 1.9 billion won from a year earlier, the company said in a regulatory filing.

(LEAD) LG Chem net profit sinks 25 pct on weak demand for key products

SEOUL -- LG Chem Ltd., South Korea's top chemicals firm, said Wednesday that its profit plunged 25 percent in 2018 from a year earlier as the global economic slowdown sapped demand for its key petrochemical products.

Net profit reached 1.52 trillion won (US$1.36 billion) last year, compared with 2.02 trillion won tallied in the previous year, it said in a regulatory filing.

(LEAD) KOSPI hits 2,200 level for first time in 2019

SEOUL -- South Korea's main bourse ended higher Wednesday on the back of foreign investors, with its index closing higher than 2,200 for the first time this year, analysts said. The local currency gained against the greenback.

The benchmark Korea Composite Stock Price Index (KOSPI) added 22.84 points, or 1.05 percent, to finish at 2,206.20. It marked the first time for the index to exceed the 2,200 mark since Oct. 10 when the market closed at 2,228.61.

(LEAD) Yonhap journalist tapped as next OANA secretary general

SEOUL -- South Korea's Yonhap News Agency said Wednesday that it has named its veteran journalist Lee Dong-min as the next secretary general of the Organization of Asia-Pacific News Agencies (OANA).

Lee, a senior reporter at Yonhap's English-language economic news desk, will start her three-year stint in November when Yonhap takes over the OANA chairmanship from the current chair, Azertac, the state news agency of Azerbaijan, at the OANA general assembly in Seoul.



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