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Yonhap News Summary

All News 17:25 May 07, 2020

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

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(2nd LD) Wary parents launch petition against school reopening amid lingering virus woes

SEOUL -- While preparations to reopen schools this month are underway, worried parents are demanding the plan to be further postponed due to lingering concerns over the coronavirus that has infected more than 10,000 here.

In an unprecedented move, elementary, middle and high schools, as well as kindergartens and childcare centers, have remained closed for the past few months as part of precautionary measures against the contagious virus.

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Pro-Moon lawmaker elected ruling party floor leader

SEOUL -- A lawmaker with close ties to President Moon Jae-in was elected floor leader of the ruling Democratic Party (DP) on Thursday, vowing close cooperation with the government and the presidential office to cope with the economic fallout of the coronavirus pandemic.

Rep. Kim Tae-nyeon, a three-term lawmaker, will replace Rep. Lee In-young for a one-year term.

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Seoul unveils plans to boost gaming as key post-pandemic industry

SEOUL -- South Korea aims to expand its gaming industry by a third by 2024, as the sector is emerging as a powerful growth engine in the post-pandemic economy.

The Ministry of Culture, Sports and Tourism on Thursday announced a five-year development plan, including relaxed regulations, increased support for businesses and the promotion of e-sports.

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(LEAD) Korean Air to reopen dozens of int'l routes in June

SEOUL -- Korean Air Lines Co., South Korea's biggest carrier by sales, said Thursday it will reopen dozens of its international routes next month amid signs the coronavirus epidemic may have passed its peak.

Korean Air plans to resume flights on 19 international routes on June 1 as the country's top flag carrier strives to offset a sharp decline in passenger travel demand with an increased demand for cargo deliveries, the company said in a statement.

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(3rd LD) Kakao Q1 net jumps nearly 4 times on robust platform, e-commerce businesses

SEOUL -- Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday its first-quarter net profit jumped nearly four times from a year earlier on the back of robust growth of its e-commerce services based on its messenger platform.

Net profit reached 79.9 billion won (US$65.4 million) in the January-March period on a consolidated basis, compared with 17.6 billion won a year earlier, the company said in a regulatory filing.

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(3rd LD) SK Telecom Q1 net down on reduced equity gains, 5G costs

SEOUL -- SK Telecom Co., South Korea's top mobile carrier, said Thursday its net income dropped 17.9 percent from a year earlier due to reduced equity gains and investments related to its 5G service.

In a regulatory filing, SK Telecom reported a net income of 306.8 billion won (US$250 million) in the January-March period on a consolidated basis, down from 373.6 billion won a year ago.

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(LEAD) LG Chem looks into gas leak at Indian plant

SEOUL -- LG Chem Ltd., South Korea's leading chemical firm, said Thursday it is looking into a gas leak at its plant in India that reportedly killed several people, adding that it has launched an internal probe to try to find the exact cause of the accident.

LG Chem said the gas leak has been brought under control and the company is taking all steps to ensure affected people can swiftly receive medical treatment.

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(LEAD) Seoul stocks close nearly flat on mixed economic data

SEOUL -- South Korean stocks closed nearly flat Thursday as investors lost direction on mixed global economic data. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.15 point, or 0.01 percent, to finish at 1,928.61.
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