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Yonhap News Summary

Finance 17:00 November 28, 2019

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

Chinese FM Wang Yi to visit Seoul next week for talks on bilateral ties, peninsula issue

SEOUL -- Chinese Foreign Minister Wang Yi will visit Seoul next week for talks with his South Korean counterpart over bilateral ties and an array of regional and international issues, the foreign ministry here said Thursday.

His visit on Wednesday and Thursday has been arranged at the invitation of Seoul's Foreign Minister Kang Kyung-wha ahead of a trilateral summit among South Korea, China and Japan, which is expected to take place in Chengdu, China, late next month.

(LEAD) U.S. flies three spy planes over S. Korea after N.K. coastal gun firing

SEOUL -- Three U.S. reconnaissance aircraft flew over the Korean Peninsula in succession for two days this week in an apparent sign of ramped-up surveillance of North Korea following its test-firing of coastal artillery.

A plane believed to be an EP-3E of the U.S. Navy, was spotted in skies above the Korean Peninsula at an altitude of 7,010 meters, Aircraft Spots, an aviation tracker, said on its Twitter account.

S. Korean economy forecast to grow 2.2 pct in 2020

SEOUL -- South Korea's economic growth is expected to gather pace in 2020 but expand only in the low 2 percent range due to sluggish domestic demand, a think tank said Thursday.

Asia's fourth-largest economy is expected to grow 2.2 percent in 2020, the Korea Capital Market Institute (KCMI) said in its latest economic and financial market outlook.

N.K. merchant ship driven out of S. Korean waters: JCS

SEOUL -- South Korea has completed an operation to drive a North Korean merchant ship out of its waters after the vessel strayed across the Yellow Sea border due to an engine problem, the Joint Chiefs of Staff (JCS) said Thursday.

The ship was detected crossing the Northern Limit Line (NLL), the de facto sea border in the Yellow Sea, early Wednesday. South Korea's military later confirmed it to be a merchant ship from the North and broadcast warnings and fired warning shots according to procedure.

(LEAD) Seoul stocks close lower on fears of delayed U.S.-China trade deal

SEOUL -- South Korean stocks closed lower Thursday as the U.S.-China trade negotiations appeared to have hit a last-minute snag, possibly delaying a much-awaited deal that U.S. President Donald Trump earlier said may be "very close." The local currency lost ground against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 9.25 points, or 0.43 percent, to close at 2,118.60. Trading volume was moderate at 327.7 million shares worth some 4.35 trillion won (US$3.69 billion), with losers outnumbering gainers 533 to 281.

(LEAD) Seoul, Tokyo, Beijing near air traffic deal

SEOUL -- South Korea, China and Japan are in final talks to accept a United Nations aviation agency's proposal for an agreement critical for the safety of flights near Korea's southern resort island of Jeju, the transport ministry said Thursday.

South Korean and Japanese air traffic controllers have been directing north-south flights and east-west flights, respectively, in the "Akara corridor," which is part of South Korean airspace.

(News Focus) Netflix starts to eye Korea-made content

SEOUL -- Netflix has been speeding up efforts to strengthen strategic partnerships with South Korean content creators in an apparent move to expand its influence in the country's burgeoning streaming service market.

Last week, the U.S.-based streaming giant inked a deal with CJ ENM, an entertainment unit of CJ Group, and its subsidiary Studio Dragon, one of the country's leading series producers.

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