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Yonhap News Summary

Yonhap News Summary 16:57 September 06, 2019

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

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(LEAD) Typhoon Lingling approaches S. Korea

SEOUL -- A powerful typhoon is quickly moving northward to South Korea, with the country's southernmost island of Jeju bracing for the storm Friday afternoon.

Typhoon Lingling, this year's 13th typhoon, passed over seas southwest of Jeju at a speed of 19 kph at noon, according to the Korea Meteorological Association.

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S. Korea considering naming non-diplomat official to lead defense cost negotiations with U.S.: sources

SEOUL -- The government is considering naming a non-diplomat official, such as a financial technocrat, to head negotiations with the U.S. on sharing the cost for the upkeep of American troops, sources said Friday.

That would mark a departure from the tradition that officials from either the foreign or defense ministries have led the Special Measures Agreement (SMA) aimed at determining how much South Korea should shoulder the cost of U.S. troop presence in the country.

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(LEAD) Foreign ministry looking into embezzlement suspicions involving official at embassy in Berlin

SEOUL -- The foreign ministry is looking into suspicions that an official at South Korea's Embassy in Germany embezzled official funds, diplomatic sources said Friday.

The official, locally hired in 2009 as an administrative employee handling general finances, was accused of pocketing at least 700 million won (US$584,260) from the mission's coffers between 2013 and 2018, according to the sources.

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(Yonhap Interview) India hopes S. Korean firms participate in its arms procurement: defense chief

SEOUL -- India is eager for foreign companies, including those from South Korea, to participate in its arms procurement projects by maximizing its liberalized foreign direct investment policy and new guidelines, its defense minister said Friday.

"To facilitate participation of foreign companies, we have liberalized our defense foreign direct investment policy ... and adopted the guidelines that call for close participation between Indian and foreign firms for the supply of major defense systems," Indian Defense Minister Rajnath Singh said in an interview with Yonhap News Agency.

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S. Korea, Central European nations agree to boost defense ties

SEOUL -- South Korea's vice defense minister held talks with his counterparts from the Visegrad Group, an alliance of four Central European countries, Friday and agreed to strengthen defense cooperation between the two sides, Seoul's defense ministry said.

The meeting between Vice Minister Park Jae-min and his counterparts from Hungary, the Czech Republic, Slovakia and Poland took place on the sidelines of the eighth Seoul Defense Dialogue (SDD) in Seoul.

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Scions of SK, Hyundai conglomerate families convicted of drug use

SEOUL -- Scions of two of South Korea's biggest conglomerate families -- SK and Hyundai -- were freed after receiving suspended jail sentences Friday for use of marijuana.

The Incheon District Court sentenced Chey Young-geun, a grandson of SK Group founder Chey Jong-gun, and Chung Hyun-sun, a grandson of Hyundai Group, to one year of imprisonment, suspended for two years.

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(LEAD) Seoul stocks up for 3rd day on U.S.-China trade deal hope

SEOUL, Sept. 6 (Yonhap) -- Seoul stocks closed higher Friday to extend their gains to a third day in a row on abated concerns over the yearlong trade frictions between the United States and China and upbeat U.S. data. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) moved up 4.38 points, or 0.22 percent, to close at 2,009.13. Trade volume was low at 377 million shares worth 3.6 trillion won (US$3 billion), with losers outnumbering gainers 488 at 307.

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Former French Open champion commits to WTA event in S. Korea for 3rd straight year

SEOUL -- The 2017 French Open women's singles champion Jelena Ostapenko will play in South Korea once again.

The organizers of the Korea Open, the lone WTA Tour stop in the country each fall, said Friday that Ostapenko will compete in Seoul for the third straight year.
(END)

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