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Yonhap News Summary

Yonhap News Summary 17:00 August 06, 2019

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

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Japan may add to list of strictly regulated goods shipped to S. Korea

SEOUL -- Japan is expected this week to unveil goods that will be subject to stricter regulations when exported to South Korea in addition to three key materials crucial to the production of chips and display panels, government sources here said Tuesday.

Last week, Tokyo removed South Korea from the so-called whitelist of trusted trading partners in its second retaliatory step over a row surrounding wartime forced labor, following the July 4 measure to restrict exports of the three key materials, including chip etching gas.

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(3rd LD) Korean won closes flat after daylong battle to rebound

SEOUL -- After choppy trading, the South Korean won finished unchanged against the U.S. dollar Tuesday amid repeated warnings of market intervention by local authorities to stem the currency's sharp decline, following the previous session's sharp decline to a more than three-year low.

The won closed at 1,215.30, unchanged from the previous session's close, after getting off to a weak start at 1,220.00 won to the greenback, the lowest since March 9, 2016, on the escalating trade tension between the world's two largest economies that appeared to be headed for a currency war.

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S. Korea to consider travel warning for Japan: ministry

SEOUL -- South Korea could consider issuing a travel advisory for Japan if necessary to ensure the safety of its citizens amid an escalating trade and diplomatic row with Tokyo, the foreign ministry said Tuesday.

oreign ministry spokesman Kim In-chul made the remark after a special committee of the ruling Democratic Party said it has asked the ministry to consider discouraging travel to regions in Japan with high risks of radioactive contamination.

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(LEAD) Typhoon Francisco approaching Busan-Geoje area

SEOUL -- South Korea's weather forecasters on Tuesday revised the expected route of Typhoon Francisco, the eighth of the season, saying the small-scale typhoon will land on the country's southern coast between Busan and nearby Geoje Island late at night.

The Korea Meteorological Administration (KMA) said Francisco is forecast to make landfall in the Busan-Geoje region between 9 p.m. and midnight Tuesday before weakening to a tropical storm near Andong, a North Gyeongsang Province city, 268 kilometers southeast of Seoul, at 6 a.m. Wednesday.

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(3rd LD) S. Korea says it to take action to stem market volatility

SEJONG -- South Korea said Tuesday it will take bold steps to stabilize its financial markets in case of increased volatility, signaling Seoul's possible intervention in the foreign exchange market.

The move came after the United States designated China as a currency manipulator in an escalating trade war between the world's two biggest economies.

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A series of K-pop album releases, concerts in Japan in limbo amid trade row

SEOUL -- An unprecedentedly large number of high-profile K-pop concerts and album releases are set to hit Japan from August onward as K-pop is enjoying a heyday in the neighboring country, but an accelerating trade row between Korea and Japan is feared to pose uncertainty over their future.

Pushing its diplomatic relations with South Korea to the lowest point, Japan imposed, in early July, curbs on exports of three essential high-tech materials to South Korea.

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(LEAD) Political parties bicker over gov't's handling of Japan's export curbs, N. Korea issue

SEOUL -- Following brief apparent unity on Japan's retaliatory export restrictions against South Korea and North Korea's missile provocations, ruling and opposition parties here resumed their political fighting Tuesday over the issues at a National Assembly session.

Opposition parties claimed that the worsening trade spat with Japan is attributable to the Moon Jae-in administration's poor diplomatic maneuvering. They also took issue with the government's approach toward Pyongyang amid a series of rocket launches in the North.
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