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Yonhap News Summary

All Headlines 16:27 December 04, 2019

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

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(2nd LD) Prosecution raids Cheong Wa Dae office over probe into ex-vice mayor

SEOUL -- The prosecution raided a division of the presidential office Cheong Wa Dae on Wednesday for its probe into an alleged cover-up of an inspection into an ex-vice mayor who faces bribery charges.

The Seoul Eastern District Prosecutors Office said it launched the raid on the Cheong Wa Dae office at 11:30 a.m. after securing a warrant from a court.

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(LEAD) Majority of Americans see North Korea as enemy: poll

SEOUL -- A majority of Americans view North Korea as an enemy, a recent survey showed, putting the communist nation atop a list of countries in terms of enemy perceptions.

The poll of 1,500 people, carried out last month by the London-based research data group YouGov and the Economist magazine, showed that 56 percent of Americans consider North Korea to be an enemy of the United States, up from 51 percent in August.

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Finance minister dismisses fears of deflation

SEOUL -- South Korea's chief economic policymaker said Wednesday he sees no acute risk of deflation, adding that next year's projected inflation rate will be higher than this year's.

The remarks by Finance Minister Hong Nam-ki came days after the Bank of Korea announced that the third-quarter gross domestic product deflator -- a measure of inflation used to calculate economic growth in real terms -- fell 1.6 percent on-year, marking the sharpest decline in two decades.

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(LEAD) Chinese FM Wang Yi arrives in Seoul for talks on bilateral ties, peninsula issue

SEOUL -- Chinese Foreign Minister Wang Yi arrived in Seoul on Wednesday for talks with his counterpart on his first trip here since bilateral ties soured in 2016 over the installation of a U.S. missile defense system in South Korea.

His visit to Seoul came amid lingering tensions between the two countries over Seoul's decision to host the Terminal High Altitude Area Defense (THAAD) system, Washington's campaign against Chinese telecom titan Huawei and its moves to deploy longer-range missiles to East Asia.

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(2nd LD) Court rules in favor of FTC over record fine against Qualcomm

SEOUL -- A Seoul court ruled in favor of South Korea's antitrust regulator Wednesday, saying its decision to impose a record fine on U.S. chipmaker Qualcomm Inc. was justifiable.

The ruling would be a setback for Qualcomm, which appealed the Fair Trade Commission (FTC)'s 2016 decision to fine the company 1.03 trillion won (US$865 million) for abusing its dominant position in mobile communication markets.

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Seoul city wins case involving steps against passenger refusal

SEOUL -- The Seoul city government on Wednesday won an administrative suit filed by a taxi company which had claimed a punitive step taken by the city over the refusal of its drivers to accept passengers is excessive.

In the suit lodged on Nov. 14, the company, whose name was undisclosed, asserted that the city government's action to suspend the operation of its cabs for 60 days because of the denial is immoderate.

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Sale of Asiana Airlines on track as planned: KDB chief

SEOUL -- Kumho Asiana Group's plan to sell its airline unit Asiana Airlines Inc. appears to be on track for completion as planned, the group's main creditor bank said Wednesday.

Last month, the HDC Hyundai Development-Mirae Asset Daewoo consortium beat two consortia led by airline-to-cosmetics conglomerate Aekyung Group and homegrown private equity fund Korea Corporate Governance Improvement (KCGI), respectively, to acquire the controlling 31 percent stake in Asiana Airlines.

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Seoul stocks down for 2nd day on continued foreign sell-off

SEOUL -- South Korean shares ended lower for the second straight session on Wednesday as increased uncertainties over a U.S.-China trade deal sapped investor sentiment with foreign investors extending their selling binge to a 20th consecutive day. The Korean won sharply fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index lost 15.18 points, or 0.73 percent, to fall to 2068.89.
(END)

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