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Yonhap News Summary

Yonhap News Summary 17:03 November 01, 2019

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

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(4th LD) Crashed chopper found, search to continue: officials

SEOUL/POHANG/DAEGU/DONGHAE, South Korea -- Fourteen hours after search operations began to find a helicopter that crashed near the Dokdo islets in the East Sea, officials said Friday that they have located the chopper.

"Three Korea Coast Guard divers who were searching in seas 600 meters south of the Dokdo islets and 72 meters underwater between 1:35 p.m. and 2:25 p.m. found the rescue chopper," a police official said at a press briefing at the Korea Coast Guard office in Donghae near the East Sea.

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Moon's top security adviser dismisses missile threat from N. Korea

SEOUL -- President Moon Jae-in's top security adviser said Friday North Korea's current missile capabilities cannot be seen as a grave threat to South Korea's national security.

Chung Eui-yong, chief of Cheong Wa Dae's National Security Office, told parliament that South Korea is "absolutely" superior to North Korea in terms of missile defense and interceptor abilities, dismissing growing public concern about missile threats from North Korea.

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No info shared between Seoul, Tokyo via GSOMIA over N. Korea's missile test: sources

SEOUL -- South Korea and Japan did not exchange military information with each other regarding North Korea's test-firing of short-range projectiles this week under the framework of a soon-to-expire bilateral intelligence-sharing pact, military sources here said Friday.

On Thursday, North Korea fired two short-range projectiles toward the East Sea from its western city of Sunchon. The communist country on Friday said that they were from its new "super-large" multiple rocket launcher system.

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Moon calls off Mexico visit this month after Chile's APEC cancellation

SEOUL -- South Korean President Moon Jae-in has canceled a two-day trip to Mexico this month, Cheong Wa Dae announced Friday, as Chile has pulled out of hosting an Asia-Pacific Economic Cooperation (APEC) summit.

Moon was scheduled to visit Mexico from Nov. 13-14 for talks with President Andres Manuel Lopez Obrador on his way to Santiago for the annual APEC session.

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Lotte Chemical Q3 net more than halves on weak aromatics business

SEOUL -- Lotte Chemical Corp., a major chemical firm in South Korea, said Friday its third-quarter net profit more than halved from a year earlier due largely to a slump in its aromatics business.

Net profit stood at 214 billion won (US$183 million) on a consolidated basis in the July-September period, down 53 percent from 454.4 billion won a year earlier, the company said in a regulatory filing.

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(LEAD) LG Uplus Q3 net dips 32.1 pct on 5G investment

SEOUL -- LG Uplus Corp., South Korea's No. 3 mobile carrier, said Friday its net profit dropped 32.1 percent in the third quarter from a year earlier due to increased spending for 5G infrastructure buildup and marketing.

Net profit stood at 104.5 billion won (US$89.5 million) in the July-September period, compared with 153.8 billion won a year ago, LG Uplus said in a regulatory filing.

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(LEAD) Seoul stocks extend gains for 2nd day on tech gains

SEOUL -- Seoul stocks rose for the second consecutive session on Friday on foreign buying, helped by strong Chinese factory data and a positive outlook for South Korean memory chip makers, analysts said. The Korean won fell against the greenback.

The benchmark Korea Composite Stock Price Index (KOSPI) increased 16.72 points, or 0.8 percent, to close at 2,100.2. Trading volume was moderate at 411.6 million shares worth 4.45 trillion won (US$3.81 billion), with gainers beating losers 482 to 334.

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(News Focus) N. Korea adds another new short-range weapon to arsenal

SEOUL -- North Korea's latest test of a new "super-large" multiple rocket launcher appears to mark the completion of development of yet another short-range tactical weapon that could further complicate South Korea's anti-artillery and missile defense capabilities, experts said Friday.

On Thursday, North Korea fired what it dubbed "super-large multiple rocket launchers" toward the East Sea from its western city of Sunchon in the third test of the new system in about two months. The North claimed the testing was successful.
(END)

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