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Yonhap News Summary

Yonhap News Summary 13:00 November 01, 2019

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

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(3rd LD) S. Korea's exports down for 11th month on chips, trade rows

SEJONG -- South Korea's exports plunged 14.7 percent in October from a year earlier, extending their slump to an 11th consecutive month, data showed Friday.

The decline is mainly blamed on the sluggish performance of the chip industry coupled with a series of trade rows around the globe.

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Listed firms post weak Q3 earnings amid global economic woes

SEOUL -- Major listed firms in South Korea suffered weak earnings in the third quarter of the year, industry data showed Friday, amid a global economic slowdown sparked by the U.S-China trade dispute.

According to market tracker FnGuide, 133 listed firms that have so far announced their third-quarter performances had combined sales of 313.2 trillion won (US$267 billion), up 1.3 percent from a year earlier, but their operating profit plunged more than 45 percent on-year to 21 trillion won.

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(2nd LD) S. Korea's consumer inflation unchanged in October

SEOUL -- South Korea's consumer inflation was unchanged in October compared with a year earlier as decreased prices of agricultural products offset increased utility prices, the statistics agency said Friday.

The consumer price index was unchanged in October from a year earlier as consumer demand remains weak amid an economic slowdown, Statistics Korea said in a statement.

The country's inflation has been extremely weak, staying far below the Bank of Korea's 2 percent target as companies and consumers tighten their spending.

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(3rd LD) N. Korea says it successfully tested super-large multiple rocket launcher

SEOUL -- North Korea's official news agency said Friday that the country successfully tested a super-large multiple rocket launcher the previous day, adding that it verified the "perfection" of the weapons system.

On Thursday, South Korea's military said that the North fired two short-range projectiles from a western region toward the East Sea, saying that both flew about 370 kilometers with a maximum altitude of around 90 km.

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(LEAD) 7 missing in chopper crash near Dokdo

POHANG/DAEGU -- Seven South Koreans were still unaccounted for Friday morning, hours after a chopper carrying them crashed into waters near the Dokdo islets in the East Sea, according to local fire authorities.

It took off from Dokdo at around 11:26 p.m. Thursday and fell into the water. An injured person from a fishing boat, a friend and five rescue officials were reportedly on board.

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No behind-the-scenes talks under way between U.S., N.K.: ambassador

WASHINGTON -- The United States and North Korea do not appear to have had behind-the-scenes discussions since their working-level denuclearization negotiations ended without an agreement in Sweden earlier this month, South Korea's ambassador to the U.S. said Thursday.

Lee Soo-hyuck made the remark after meeting with U.S. Special Representative for North Korea Stephen Biegun, Washington's chief envoy to the talks with Pyongyang, for the first time since taking up his post last week.

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(LEAD) U.S. envoy for N.K. tapped as No. 2 State Dept. official

WASHINGTON -- U.S. President Donald Trump on Thursday nominated the top U.S. negotiator on North Korea's nuclear weapons program as the deputy secretary of state, the White House said.

The nomination of U.S. Special Representative for North Korea Stephen Biegun comes after Deputy Secretary of State John Sullivan was picked to be Washington's next ambassador to Russia
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