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Yonhap News Summary

Yonhap News Summary 17:22 November 29, 2019

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

(LEAD) Chinese warplane violates Korea's air defense zone again

SEOUL -- A Chinese military plane violated South Korea's air defense identification zone (KADIZ) again Friday, prompting the Air Force to deploy its fighters to drive it out, Seoul's Joint Chiefs of Staff said.

The plane, presumed to be its Y-9 surveillance aircraft, first entered the KADIZ at 10:05 a.m. from an area west of Ieodo, a submerged rock south of Jeju Island, and exited the zone at 10:53 a.m. It later reentered the zone two more times before its last exit at 1:36 p.m.

(2nd LD) BOK again trims 2019 growth outlook

SEOUL -- The Bank of Korea (BOK) on Friday again slashed its growth outlook for Asia's fourth-largest economy in 2019 and 2020, citing sluggish demand at home and abroad.

"Korea's economic growth is projected to rise at a moderate pace to 2.3 percent and 2.4 percent in the next two years from 2 percent this year," the central bank said in a press release.

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

SEOUL -- South Korea and Japan did not exchange military information with each other regarding North Korea's weapons test this week under the framework of their bilateral intelligence-sharing pact, officials said Friday.

On Thursday, North Korea fired two short-range rockets into the East Sea in a test of its super-large multiple rocket launcher. It was the North's first weapons test since Seoul decided last week to conditionally renew the General Security of Military Information Agreement (GSOMIA).

N.K.'s latest weapons test intended to warn it can return to past behavior: Seoul

SEOUL -- North Korea appears to have tested a super-large multiple rocket launcher as a warning sign that it can return to its past behavior of resorting to provocations if it fails to get what it wants during talks with the United States, Seoul's spy agency said Friday.

The National Intelligence Service's (NIS) assessment came as North Korea fired two projectiles from what's presumed to be a super-large multiple rocket launcher toward the East Sea. It marked the 13th major weapons test by the North this year.

Main opposition to start filibuster to deter vote on key reform bills

SEOUL -- The main opposition Liberty Korea Party (LKP) said Friday it will launch a filibuster to deter a parliamentary vote on key contentious reform bills, heralding intensified wrangling with the liberal bloc.

The conservative LKP will begin the filibuster later in the day, with lawmakers taking turns speaking for four hours until the ongoing parliamentary regular session ends on Dec. 10, according to party officials.

Seoul mulls repairing old facilities at Mount Kumgang resort

SEOUL -- South Korea is considering repairing facilities it built at the Mount Kumgang resort on North Korea's east coast amid Pyongyang's threat to end their long-suspended joint tour project at the mountain, the unification ministry said Friday.

Last month, North Korea demanded South Korea remove all its facilities at the scenic resort, saying that it will build a new international tourist destination of its own.

(LEAD) Seoul stocks dip over 1 pct on Sino-American trade deal woes, foreign selling

SEOUL -- South Korean stocks plunged more than 1 percent Friday on fears of U.S.-China trade negotiations faltering and extended foreign sell-offs. The local currency lost ground against the U.S. greenback for the fourth consecutive session.

The benchmark Korea Composite Stock Price Index (KOSPI) plunged 30.64 points, or 1.45 percent, to close at 2,087.96. Trading volume was moderate at 422.3 million shares worth 4.9 trillion won (US$4.15 billion), with losers outnumbering winners 630 to 213.

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