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Yonhap News Summary

All News 17:18 April 23, 2020

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

Colorado to receive Korean-made kits to run over 100,000 COVID-19 tests soon: U.S. senator

WASHINGTON/SEOUL -- The U.S. state of Colorado will soon receive South Korean-made kits to run more than 100,000 new coronavirus tests, one of its senators has tweeted, after Maryland purchased diagnostic kits to conduct 500,000 tests.

Sen. Cory Gardner, who chairs the Senate Foreign Relations Subcommittee on East Asia, expressed appreciation to South Korea's government and its Ambassador to the United States Lee Soo-hyuck for cooperation in fighting the COVID-19 pandemic.

(LEAD) S. Korea designates rail construction on east coast as inter-Korean cooperative project

SEOUL -- South Korea on Thursday designated a rail construction project along the east coast as an inter-Korean cooperative business as part of efforts to kick-start a long-suspended move to reconnect railways across the border with North Korea.

A civilian-government committee on inter-Korean exchanges held a meeting and made the decision for the construction of a 110.9-kilometer-long railway, paving the way for the project to move forward in a speedier manner without a preliminary feasibility study.

(LEAD) Seoul stocks up for 2nd day on rebounding oil prices

SEOUL -- South Korean stocks ended higher for the second straight session Thursday on improved investor sentiment over rebounding oil prices. The Korean won gained ground against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.58 points, or 0.98 percent, to 1,914.73.

(2nd LD) Hyundai Q1 net dips 42 pct on virus impact, further slump in store

SEOUL -- South Korea's Hyundai Motor Co. said Thursday its first-quarter net profit plunged 42 percent from a year earlier as the coronavirus outbreak disrupted production and sales, and offered a dim outlook for the second quarter amid virus fallout.

Net profit for the January-March period fell to 552.68 billion won (US$449 million) from 953.79 billion won a year earlier, the company said in a statement.

(2nd LD) LG Display net loss widens in Q1 on output cut

SEOUL -- LG Display Co., a major South Korean display panel maker, said Thursday it incurred losses in the first quarter due to disruption of its production amid the new coronavirus pandemic.

LG Display reported a net loss of 198.9 billion won (US$161.7 million) during the January-March period, widening from a net loss of 63 billion won a year earlier, the company said in a regulatory filing.

(4th LD) Busan mayor resigns over sexual harassment

BUSAN -- The mayor of Busan, South Korea's largest port city, on Thursday resigned and apologized for sexual harassment.

"In a short meeting that lasted five minutes, there was unnecessary physical contact with a person. I realized that this could be recognized as an indecent assault, (something) that should not have been done," the city's Mayor Oh Keo-don said in a press briefing.


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