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Yonhap News Summary

Yonhap News Summary 17:08 November 19, 2019

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

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(3rd LD) 1 dead, 11 missing in fishing boat fire in waters off Jeju Island

JEJU/SEOUL -- One person was confirmed dead and 11 others remained unaccounted for after a fishing boat caught fire in waters west of South Korea's southern resort island of Jeju on Tuesday, the Coast Guard said.

A fire broke out on the 29-ton ship at around 7:09 a.m. in waters some 76 kilometers west of a small island that is located near Jeju Island, according to the maritime police.

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(LEAD) S. Korea to invest 4.8 tln won for Incheon airport expansion

SEOUL -- South Korea will invest 4.84 trillion won (US$4.2 billion) to expand its main airport by 2024 to meet rapidly rising travel demand, the transport ministry said Tuesday.

Incheon International Airport Corp. (IIAC), the operator of Incheon International Airport, will make the investment in stages over the next five years to build a fourth runway and expand the second passenger terminal and other facilities, according to the Ministry of Land, Infrastructure and Transport.

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(LEAD) Seoul stocks down for 2nd day over U.S-China trade deal woes

SEOUL -- South Korean stocks closed lower Tuesday as investors remained cautious over mixed signals around a potential U.S-China trade deal, analysts said. The Korean won lost ground against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.45 points, or 0.34 percent, to reach 2,153.24. Trading volume was high at 814 million shares worth 5.4 trillion won (US$4.6 billion), with losers outnumbering winners 561 to 280.

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(LEAD) N.K. says dialogue with U.S. 'impossible' unless Washington drops 'hostile policy'

SEOUL -- North Korea's chief nuclear negotiator said Tuesday that dialogue between Pyongyang and Washington is "impossible" unless the United States makes a "bold decision to drop the hostile policy" against the communist nation.

Kim Myong-gil made the remarks in an interview with the Korean Central News Agency, unveiling that the U.S. recently offered through Sweden to hold a new round of talks in December after October's working-level negotiations in Stockholm.

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(3rd LD) Defense cost-sharing talks abruptly cut short as U.S. walks out of meeting

SEOUL -- Defense cost-sharing talks between South Korea and the United States were abruptly cut short Tuesday as the U.S. negotiators walked out of the meeting and accused Seoul of making proposals falling short of "fair and equitable burden sharing."

The unexpected ending underlined wide differences between the two sides after Washington's reported demand for a fivefold increase in Seoul's sharing of the cost of the upkeep of about 28,500 American troops stationed in South Korea.

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(LEAD) Bus drivers' strike disrupts morning commute in Seoul satellite city

SEOUL -- Union workers of a bus company in Goyang, west of Seoul, went on strike Tuesday after wage talks with management broke down.

Myungsung Transportation's more than 270 buses on 20 lines, including those linking Seoul and the satellite city in Gyeonggi Province, stopped operations.

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(LEAD) Weak global recovery to weigh on S. Korean economy in 2020: Moody's

SEOUL -- The South Korean economy, along with many of its leading corporations, will continue to face headwinds next year due to weak economic growth and trade tensions, global rating agency Moody's Investors Service said Tuesday.

"Our outlook is negative. The overall profitability of export-dependent companies deteriorated in 2019 due to a global economic slowdown, but their financial stability weakened as they continue to maintain sizable investment," said Chris Park, associate managing director of corporate finance group at Moody's.

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(LEAD) Coach of first-place football club ruled ineligible for award due to earlier penalty

SEOUL -- Even if his Ulsan Hyundai FC take the K League 1 professional football championship this year, head coach Kim Do-hoon won't be considered for the top coaching prize at season's end.

The K League unveiled finalists for major individual awards for the 2019 season on Tuesday, and conspicuous by absence was Kim in the Coach of the Year category in the top division.

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(LEAD) (News Focus) N.K. ups pressure on U.S. with consecutive statements as year-end deadline nears

SEOUL -- Recent back-to-back statements from former and current North Korean negotiators are indicative of Pyongyang's strategy to wring maximum concessions out of the United States as a year-end deadline the regime set for a new U.S. proposal is drawing near, experts said Tuesday.

Between Monday and early Tuesday, North Korea issued two separate statements, within several hours, urging Washington to drop its "hostile policy" and saying the North will not have another summit with the U.S. that will "bring nothing."
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