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Yonhap News Summary

Yonhap News Summary 17:19 September 30, 2019

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

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(3rd LD) Moon orders prosecution to draw up its own reform plan

SEOUL -- President Moon Jae-in instructed South Korea's prosecution Monday to map out its internal reform measures at an early date, effectively sending another strong warning message to Prosecutor-General Yoon Seok-youl against a controversial probe into a criminal scandal involving Justice Minister Cho Kuk's family.

Moon issued the order upon receiving a report from Cho at Cheong Wa Dae on ways to improve the country's prosecution system, according to the presidential office.

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(LEAD) Moon urges 'bold action' to seize peace opportunity

SEOUL -- President Moon Jae-in said Monday the clock for peace on the Korean Peninsula has begun to tick and called for determination and bold action to seize the chance, citing a speedy move by Washington and Pyongyang to resume nuclear talks.

He also presented his longer-term vision once again for an international peace zone and special economic district in and near the Demilitarize Zone (DMZ) as he met new members of the National Unification Advisory Council (NUAC).

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Typhoon Mitag may lose strength after hitting Taiwan, China: forecasters

SEOUL -- Typhoon Mitag is expected to make landfall on South Korea's southwest coast on Thursday but its strength may be weaker than anticipated after passing through Taiwan and the Chinese mainland, the local meteorological agency said.

Mitag, the season's 18th typhoon and the seventh to affect the Korean Peninsula this year, could bring powerful winds and heavy rain to the southern parts of the peninsula, the Korea Meteorological Administration (KMA) said on Monday, calling for thorough preparations to prevent damage.

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BOK net sells $3.8 bln in market stabilization efforts in H1

SEOUL -- South Korea's central bank said Monday that it net sold US$3.8 billion in the first six months of the year to smooth out volatility on the local foreign currency market.

The amount marks a sharp increase from net selling of $187 million during the second half of 2018.

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S. Korea, Japan jointly take part in multinational maritime exercise

SEOUL -- South Korea and Japan jointly participated in a multinational anti-piracy maritime exercise off the coast of Somalia, the Navy said Monday, amid strained relations between the two countries over history and trade rows.

The navies from South Korea, Japan, Germany, Spain and Oman launched the joint exercise in the Gulf of Aden from Sept. 23-26 as part of the international coalition's regular joint maneuvers, according to the Navy.

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(News Focus) Speculation rises over Kim's trip to China ahead of talks with Washington

SEOUL -- North Korean leader Kim Jong-un is expected to seek to reaffirm the alliance with China and bolster his negotiating leverage ahead of a resumption of working-level nuclear talks with the United States if he visits Beijing this week, experts said Monday.

Speculation has grown that Kim could travel to the neighboring nation as early as this week, as the two countries are to celebrate the 70th anniversary of establishing diplomatic ties on Oct. 6. On Tuesday, China will mark the anniversary of its foundation as well.

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Nissan to maintain S. Korean operations despite headwinds

SEOUL -- Nissan Motor Corp. said Monday it will continue its operations in South Korea amid trade tensions between the two Asian neighbors, despite headwinds like a boycott of Japanese products.

The Japanese carmaker's commitment to South Korea follows market rumors that it will pull out of the market here as its sales have been hit hard by the escalating trade tensions between Seoul and Tokyo.

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(News Focus) Broadcasters, IT firms scramble for supremacy in online content market

SEOUL -- As South Korean broadcasters and IT firms scurry to reorganize and launch new over-the-top (OTT) services, the question of how to create bankable content is determining survival in the Netflix-led market.

The country's three terrestrial broadcasters -- KBS, MBC and SBS -- opened a new over-the-top (OTT) platform service, named Wavve, on Sept. 18. It offers some 1,000 titles, including movies and drama series, from both home and abroad, to paid subscribers.
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