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Yonhap News Summary

All News 13:34 February 07, 2020

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

SsangYong Motor Q4 net losses widen on weaker demand

SEOUL -- SsangYong Motor Co. on Friday said its net losses widened in the fourth quarter from a year earlier due to lower demand.

For the October-December quarter, net losses deepened to 155.9 billion won (US$130 million) from 4 billion won in the year-ago period, the company said in a statement.

"Decreased exports and increased marketing costs amid tougher competition with bigger domestic rivals resulted in the net losses," the statement said.

(LEAD) S. Korea to offer 2 tln won in financial support to small merchants amid virus fallout

SEOUL -- South Korea will provide 2 trillion won (US$1.7 billion) in financial support to small merchants who are expected to take a hit from the rapid spread of the novel coronavirus, Finance Minister Hong Nam-ki said Friday.

South Korea also plans to begin consultations with China's local governments to ask them to resume operations of their auto parts plants, Hong told a meeting with economic ministers.

Moon to meet Chinese, Japanese ambassadors for their credentials

SEOUL -- President Moon Jae-in will greet the new Chinese and Japanese ambassadors to South Korea at Cheong Wa Dae on Friday, an opportunity to discuss the issues of the ongoing novel coronavirus epidemic and Seoul-Tokyo relations dampened by a drawn-out trade fight.

After receiving their credentials, Moon plans to have a group conversation session with the envoys -- Xing Haiming of China and Koji Tomita of Japan.

(2nd LD) Another evacuee confirmed to be infected, total now at 24

SEOUL -- South Korea on Friday confirmed another case of novel coronavirus infection, bringing the total here to 24, and the latest one is a South Korean airlifted from the Chinese city of Wuhan last week.

After arriving here on a chartered plane last Friday, the 28-year-old South Korean man had been in quarantine at a state-run facility in Asan in central South Korea and started to suffer from a sore throat, according to the Korea Centers for Disease Control and Prevention (KCDC).

'Parasite' has collected 55 awards at 57 film fests

SEOUL -- Bong Joon-ho's sensational black comedy "Parasite," nominated in six categories, including best picture, at the upcoming Oscars, has been invited to 57 film festivals and award events across the world, and collected 55 trophies, its production company CJ ENM said Friday.

In May last year, the film about class division through two extreme families embraced the highest prize of Palme d'Or at the Cannes Film Festival, becoming a massive hit in 2019 and starting its awards-winning streak.

(LEAD) Hyundai suspends all assembly lines over parts shortages

SEOUL -- Hyundai Motor Co., South Korea's biggest carmaker by sales, on Friday suspended all of its domestic car assembly plants due to a lack of parts from China amid the spreading coronavirus outbreak, with other local automakers taking similar steps or considering doing so.

Hyundai Motor plans to halt its assembly plants by Monday, while its affiliate Kia Motors Corp. is planning to bring all of its local assembly lines to a halt Monday.

Daewoo Shipbuilding wins 337 bln-won oil tanker deal from Norway

SEOUL -- Daewoo Shipbuilding & Engineering Co., the world's third-largest shipbuilder by order value, said Friday it has received a 337 billion-won (US$284 million) deal from Norway to build two oil tankers.

Daewoo Shipbuilding has signed a contract with Norway's Knutsen NYK Offshore Tankers AS to deliver two 124,000-ton oil tankers by Aug. 18, 2022, the company said in a statement.

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