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Yonhap News Summary

Yonhap News Summary 16:58 September 04, 2019

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

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(LEAD) Moon in Yangon for business forum, industrial park ceremony
(ATTN: UPDATES throughout with arrival, details; CHANGES headline, dateline, photo)

YANGON -- South Korean President Moon Jae-in landed in Yangon, the largest city and economic hub of Myanmar, on Wednesday for a business forum and a groundbreaking ceremony for a joint industrial zone

He will also visit a monument for South Koreans killed by a North Korean-orchestrated bombing in 1983.

The president is leading a delegation of hundreds of South Korean business figures to the forum. They plan to have discussions with Myanmar government officials and business leaders on ways to expand investment and trade between the two countries.

Moon is to deliver a keynote speech at the event.

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(LEAD) Parties agree to hold justice minister nominee hearing Friday
(Attn: RECASTS headline; UPDATES with details throughout)

SEOUL -- South Korea's ruling and main opposition parties agreed Wednesday to hold a confirmation hearing for a disputed justice minister nominee Friday.

The rival parties had been in a row over scheduling the parliamentary hearing of Justice Minister nominee Cho Kuk, who faces corruption allegations involving his family.

The dramatic agreement was reached during a meeting at the National Assembly between Na Kyung-won, floor leader of the main opposition Liberty Korea Party, and her ruling Democratic Party (DP) counterpart Lee In-young.

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S. Korea seeks global support for N.K. denuclearization, peace on Korean Peninsula

SEOUL -- South Korea's vice defense minister on Wednesday held a series of bilateral talks with his counterparts from foreign countries and asked for their continued support for efforts to denuclearize North Korea and build peace on the peninsula, his office said.

On the sidelines of the 8th Seoul Defense Dialogue under way in Seoul, Vice Defense Minister Park Jae-min met with his counterparts from Singapore, Uzbekistan, the Philippines and Ethiopia, to share their assessment on the recent security situations in the region and discuss ways to deepen their defense ties, according to the ministry.

During the meeting with Singaporean vice defense chief Chan Yeng Kit, Park asked for Singapore's proactive support and cooperation to encourage North Korea to give up its nuclear program and continue to engage in the ongoing peace process.

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(LEAD) Typhoon Lingling likely to hit S. Korea as early as Friday
(ATTN: RECASTS title; UPDATES with details in paras 1-6)

SEOUL, Sept. 4 (Yonhap) -- Typhoon Lingling is forecast to affect South Korea as early as Friday, with strong winds feared to cause the biggest damage, South Korea's weather agency said Wednesday.

The typhoon is slowly moving northward from seas east of Taipei but is expected to pick up speed and directly affect the country by Friday, according to the Korea Meteorological Administration (KMA).

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Samsung unveils integrated 5G chipset for smartphone

SEOUL -- Samsung Electronics Co. on Wednesday introduced a 5G chipset that combines an integrated modem and mobile processors, which can save battery life and space in smartphones.

Samsung, the world's largest chip and smartphone maker, has been working on a mobile processor with a 5G modem built inside, which would make it easier for manufacturers to design 5G ready phones from the start.

The Exynos 980 is Samsung's first artificial intelligence (AI) mobile processor with an integrated 5G modem.

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Pro-N.K. newspaper says maintaining military balance in region is critical

SEOUL -- North Korea has been pushing to develop new conventional weapons even after the launch of denuclearization talks with the United States because it is important to maintain the power balance on and around the Korean Peninsula, a pro-Pyongyang newspaper in Japan said Wednesday.

Referring to the North's recent projectile launches as an exercise of its right to self-defense, the Japan-based Choson Sinbo said Pyongyang should "appropriately respond to obsolete military provocations" and arms build-up by South Korea and the U.S.

"Maintaining the military balance surrounding the Korean Peninsula holds special importance, especially at a time when ... denuclearization talks, which are directly related to a change in security environment, have started," the paper said.

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(LEAD) Seoul stocks spike 1 pct on hope for U.S.-China trade deal
(ATTN: ADDS bond yields at bottom)

SEOUL -- South Korean stocks rallied 1 percent Wednesday as investors hunted for bargains amid hopes that the United States and China may reach a limited deal. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) jumped 22.84 points, or 1.16 percent, to close at 1,988.53. Trade volume was moderate at 342.7 million shares worth 4 trillion won (US$3.3 billion), with gainers outnumbering losers 532 to 273.

Investors scooped up bargains after the index fell sharply in previous sessions in the face of the growing tension between the world's top two economies.

(END)

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