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Yonhap News Summary

All News 13:37 June 10, 2019

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

S. Korea, Finland to hold summit on peace, startups

HELSINKI -- South Korean President Moon Jae-in will hold bilateral talks with his Finnish counterpart, Sauli Niinisto, on Monday, commencing another round of his summit diplomacy to harden international support for the Korea peace process and broaden partnerships on Seoul's search for future growth engines.

Moon arrived in Helsinki on Sunday for a three-day state visit, the first leg of his weeklong regional tour that will also take him to Norway and Sweden.

(LEAD) S. Korea, Britain agree on post-Brexit FTA

SEOUL -- South Korea and Britain reached an agreement Monday to maintain their current free trade agreement even after the "no deal" Brexit, with Seoul becoming a major non-EU member economy to seal such a deal as it braces for the fallout from the divorce.

The move came amid concerns that South Korean companies may no longer enjoy the benefits under the South-EU FTA if Britain leaves the world's single largest economic bloc without agreeing on post-Brexit conditions.

(LEAD) Seoul asks Washington to consider exporters' woes after scrapped Iran sanctions waiver

SEJONG -- South Korea's finance minister has called for positive U.S. consideration in resolving difficulties facing smaller South Korean companies due to U.S. sanctions on Iran, the finance ministry said Monday.

Hong Nam-ki, the minister of the economy and finance, made the request during his meeting with U.S. Treasury Secretary Steven Mnuchin on Sunday on the sidelines of an annual meeting of the Group of 20 finance ministers in Japan.

Vice unification minister expected to visit inter-Korean liaison office this week

SEOUL -- Vice Unification Minister Suh Ho is expected to visit a joint inter-Korean liaison office later this week for the first time since he was appointed the new South Korean head of the office last week, the ministry said Monday.

Suh was appointed Friday as the South Korean chief of the liaison office located in North Korea's border town of Kaesong. The appointment came after he replaced Chun Hae-sung last month as vice unification minister, who also serves as Seoul's liaison office chief.

(LEAD) Hanwha signs US$300 mln deal to buy U.S. aircraft engine maker EDAC

SEOUL -- Hanwha Aerospace Co., the aircraft engine making unit of defense and finance conglomerate Hanwha Group, said Monday it had signed a deal worth 350 billion won (US$300 million) to buy a U.S. aircraft engine maker in its latest expansion strategy.

Under the deal, Hanwha Aerospace will acquire a 100 percent stake in EDAC Technologies Holding Company by the end of the year, the company said in a regulatory filing.

Stock short-selling jumps amid bearish run

SEOUL -- Short-selling of stocks on the South Korean bourses jumped to a seven-month high in May as local shares remained bearish amid escalating trade tension between the U.S. and China, data showed Monday.

Daily stock short-selling averaged 537.5 billion won (US$454.8 million) in the main KOSPI and secondary KOSDAQ markets last month, up 37.1 percent from a month earlier, according to the data compiled by the Korea Exchange (KRX).

S. Korean stocks up late Monday morning

SEOUL -- South Korean stocks traded higher Monday morning on the back of gains in tech and autos.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.66 points, or 0.61 percent, to 2,084.99 as of 11:20 a.m.

'Parasite' retains top spot at weekend box office

SEOUL -- The Cannes-winning "Parasite" continued its box office rally over the weekend, surpassing 7 million in total admissions in its second week, data showed Monday.

The family satire, directed by Bong Joon-ho, sold 1.67 million tickets from Friday to Sunday for a total of 7.02 million, according to the data from the Korean Film Council (KOFIC).

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