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Yonhap News Summary

Politics 12:03 February 28, 2019

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

(LEAD) (US-NK summit) Trump says he is in no rush with N. Korea

HANOI -- U.S. President Donald Trump said again Thursday that he is in "no rush" with North Korea as he headed into a second day of talks with North Korean leader Kim Jong-un in Hanoi.

"Speed is not that important. To me, I very much appreciate no testing of nuclear rockets and missiles," Trump said at the start of one-on-one talks, with Kim seated to his right.

(LEAD) (US-NK summit) N. Korean leader vows efforts for summit success

HANOI -- North Korea leader Kim Jong-un assured U.S. President Donald Trump on Thursday that he will continue his utmost efforts for the success of their summit here, while Trump said he's in no hurry for a nuclear deal.

"Let me assure you I will do my best to bring a good result ultimately today," Kim said, sitting together with Trump in their second-day talks at a Hanoi hotel.

(US-NK summit) S. Korean president closely following Trump-Kim meeting

SEOUL -- South Korean President Moon Jae-in has no official schedule Thursday as he is closely following developments of the second U.S.-North Korea summit in Hanoi, officials from the presidential office Cheong Wa Dae said.

Cheong Wa Dae spokesman Kim Eui-kyeom earlier said the president will probably watch the summit between U.S. President Donald Trump and North Korean leader Kim Jong-un in Hanoi on television and receive reports on any developments of the event that he has said may also set the future of inter-Korean relations.

(2nd LD) S. Korea central bank freezes key rate at 1.75 pct for Feb.

SEOUL -- The South Korean central bank on Thursday held its policy rate unchanged at 1.75 percent for February amid widespread concerns over an economic slowdown.

The monetary policy board of the Bank of Korea (BOK) voted to leave the base rate steady for the third straight month after raising it by a quarter percentage point in November.

S. Korea, Turkey to implement customs pact to facilitate trade

SEJONG -- South Korea's customs agency said Thursday that a customs pact with Turkey will go into effect this week that can help facilitate bilateral trade.

The Korea Customs Service (KCS) said the two nations' Authorized Economic Operator (AEO) deal and Mutual Recognition Arrangement (MRA) are set to take effect in March.

Finance ministry to sell 10 tln-won debt

SEJONG -- South Korea's finance ministry said Thursday that it plans to sell a combined 10 trillion won (US$8.9 billion) worth of debt in March to meet a temporary money shortfall.

The 63-day, 2.5 trillion-won debt is set to be sold on March 6, 13, 20 and 27, according to the Ministry of Economy and Finance.

S. Korea appoints new trade minister, deputy directors of security office

SEOUL -- President Moon Jae-in on Thursday named a new trade minister and replaced both deputy chiefs of the presidential National Security Office (NSO).

Yoo Myung-hee, an official from the Ministry of Trade, Industry and Energy, has been appointed the new trade minister, a vice ministerial-level post at the ministry in charge of trade negotiations.

S. Korea to close old coal power plants in March-June to reduce fine dust

SEOUL -- South Korea's industry ministry said Thursday it will suspend the operation of old coal power plants over the March-June period to cope with the intensifying level of fine dust in the country.

The Ministry of Trade, Industry, and Energy said it will shut down four of the six plants that are older than 30 years in South Gyeongsang and South Chungcheong provinces. The two other plants in South Jeolla Province will maintain their operations to ensure a stable power supply in the region.

Corporate direct financing jumps 47.7 pct in January

SEOUL -- South Korean companies' equity and debt sales jumped 47.7 percent on-month in January, thanks to a robust rise in sales of corporate debts, government data showed Thursday.

Local companies raised 13.5 trillion won (US$12.08 billion) through sales of stocks and bonds last month, up 4.37 trillion won from a month earlier, according to the data from the Financial Supervisory Service (FSS).

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