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Yonhap News Summary

All News 17:14 May 25, 2020

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

(LEAD) Moon urges use of full fiscal capability against 'wartime-like' economic crisis

SEOUL -- President Moon Jae-in called Monday for "wartime-like" aggressive fiscal policy to cope with the economic crisis from the COVID-19 pandemic, dismissing a burgeoning public concern about South Korea's fiscal soundness.

"The bottom of the global economy is invisible. This is indeed an economic wartime situation," he said during an annual national fiscal strategy meeting at Cheong Wa Dae

(LEAD) 1 kindergarten student tests positive for virus ahead of expanded school reopening

SEOUL -- A kindergarten student in Seoul has been infected with the novel coronavirus, the city's education office said Monday, leading to the shutdown of several education institutes in Gangseo Ward, where the young patient lives.

The news quickly raised fear among parents with young children, just two days ahead of the planned second-phase resumption of schools, including kindergartens.

(3rd LD) S. Korea striving to break club-linked transmission chain

SEOUL -- South Korean health officials are trying to break the chain of transmission tied to cluster infections in Seoul's nightlife district of Itaewon as the country grapples with related sporadic outbreaks across the country.

The country reported 16 new COVID-19 cases, including 13 local infections, raising the total coronavirus caseload to 11,206, according to the Korea Centers for Disease Control and Prevention (KCDC).

(News Focus) BOK's rate cut in the offing, but 'when' still being debated

SEOUL -- The Bank of Korea (BOK) will be prodded to further slash its key rate to support the virus-stricken economy, experts said Monday, but when it will push down the base rate to an unknown territory remains to be seen.

In a poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, 12 out of 18 experts surveyed anticipated to see a rate cut this month. But all but one expected the BOK to cut the rate by a quarter percentage point before the end of September, according to the survey.

Rival parties bracing for launch of new National Assembly term

SEOUL -- With mergers and shakeups, rival political parties are quickening steps to consolidate their party fronts in the run-up to the start of a new parliamentary term this week.

The unicameral National Assembly is set to kick off its 21st four-year term Saturday, slightly over midway through President Moon Jae-in's five-year term.

Masks mandatory on all flights starting Wednesday

SEOUL -- South Korean airlines will require all passengers on domestic and international routes to wear masks on board as the new coronavirus outbreak continues to spread, the transport ministry said Monday.

The move that goes into effect Wednesday comes as global companies, like United Airlines Inc. and American Airlines Inc., recently introduced the rules.


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