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Yonhap News Summary

Yonhap News Summary 17:30 September 25, 2019

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

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(LEAD) Top prosecutor says justice minister probe in line with protocol

INCHEON -- South Korea's top prosecutor on Wednesday said an ongoing probe into allegations surrounding Justice Minister Cho Kuk's family is being conducted in an appropriate manner.

Replying to reporters on the sidelines of an international anti-drug conference, Prosecutor General Yoon Seok-youl said the investigation "is being conducted in accordance with the (appropriate) procedure."

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Top nuke envoys of S. Korea, U.S., Japan hold trilateral talks in New York

SEOUL -- The top nuclear envoys of South Korea, the United States and Japan held trilateral talks on the margins of the U.N. General Assembly in New York this week ahead of nuclear talks between Washington and Pyongyang, Seoul's foreign ministry said Wednesday.

South Korea's chief nuclear negotiator, Lee Do-hoon, met his U.S. and Japanese counterparts, Stephen Biegun and Shigeki Takizaki, on Tuesday to discuss three-way cooperation in addressing the North Korean nuclear issue.

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S. Korean, Japanese biz leaders call for patching up frayed diplomatic relations

SEOUL -- Business leaders from South Korea and Japan on Wednesday voiced concerns over an escalating trade feud between the two neighbors, calling for their governments to resolve the issue through dialogue.

Some 300 business leaders from the two nations gathered in Seoul for the annual conference of the Korea-Japan Economic Association to discuss ways to ease trade tensions and normalize the bilateral economic relations that recently sank to their lowest point in decades.

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(LEAD) Seoul stocks end 13-day winning streak amid Trump impeachment probe

SEOUL -- South Korean stocks dropped by more than 1 percent on Wednesday, ending a run of thirteen consecutive sessions of gains amid escalating woes over a potential impeachment investigation into U.S. President Donald Trump. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 27.65 points, or 1.32 percent, to close at 2,073.39. Trade volume was moderate at 640 million shares worth 5.1 trillion won (US$4.3 billion), with losers far outnumbering gainers 757 to 108.

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Woori Bank to sell 4 pct stake in parent group to Taiwan's Fubon

SEOUL -- Woori Bank, a major South Korean commercial lender, will sell its 4-percent stake in its parent Woori Financial Group Inc. to the insurance unit of Taiwan's Fubon Financial Holding, Woori Financial said Wednesday.

Woori Bank will sell its 28.89 million shares worth 358.4 billion won (US$299 million), or 12,408 won a piece, in Woori Financial to Fubon on Thursday, Woori Financial said in a regulatory filing.

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Panel asks military to reinvestigate suspicious deaths of 12 soldiers

SEOUL -- Two conscripted soldiers, who committed suicide separately while serving in the South Korean military 34 years ago, turned out to be victims of physical abuse in barracks, a presidential panel said Wednesday.

The Presidential Commission on Suspicious Deaths in the Military included the wrongful deaths of the two soldiers, identified only as Private First Class Kim and Sergeant Kim, in a report issued on the occasion of its first founding anniversary.

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Seoul working on plan to use DMZ, including Moon's vision to build peace zone

SEOUL -- President Moon Jae-in's recent proposal to turn the Demilitarized Zone (DMZ) that bisects the two Koreas into an "international peace zone" will be included in the government's broader plan for the peaceful use of the area, the unification ministry said Wednesday.

Addressing the 74th session of the U.N. General Assembly in New York on Tuesday, Moon suggested transforming the DMZ into a peace zone by opening offices of international organizations such as the United Nations.

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(LEAD) S. Korea, U.S. agree to work toward 'reasonable and fair' sharing of defense cost

SEOUL -- South Korea and the United States agreed Wednesday to work toward a "reasonable and fair" sharing of the cost of stationing American troops here, the foreign ministry said after wrapping up an opening round of negotiations on the issue.

The two sides held two days of talks from Tuesday to discuss renewing the Special Measures Agreement (SMA) on determining how much Seoul should pay for stationing some 28,500 U.S. soldiers in the country. The current deal is set to expire on Dec. 31.

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