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Yonhap News Summary

All News 17:27 June 04, 2020

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

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(LEAD) Seoul stocks hit over 100-day high amid recovery hopes

SEOUL -- South Korean shares extended their winning streak to a fifth consecutive session Thursday, reaching the highest in over 100 days on economic recovery hopes. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 4.18 points, or 0.19 percent, to close at 2,151.18, the highest since Feb. 21. Trading volume was high at about 1.4 billion shares worth 15.8 trillion won (US$13 billion), with losers outnumbering gainers 441 to 391.

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(LEAD) Prosecutors seek arrest warrant for Samsung's Lee over 2015 merger of key affiliates

SEOUL -- South Korean prosecutors on Thursday sought an arrest warrant for Samsung Group heir Lee Jae-yong, as part of an investigation into a controversial merger between two group units and a suspected accounting fraud, allegedly aimed at cementing his control over the conglomerate.

The Seoul Central District Prosecutors Office said it sought arrest warrants for Lee and two former top executives, Choi Gee-sung and Kim Jong-joong, from the group's now-disbanded control tower, the Future Strategy Office.

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S. Korea vows to work with Japan to resolve forced labor row amid Tokyo's protest over asset sale procedure

SEOUL -- South Korea will continue talks with Japan to resolve a row over wartime forced labor, the foreign ministry said Thursday, as Tokyo strongly protested a local court's decision to start a procedure to forcefully sell off assets of a Japanese firm to compensate victims.

On Monday, the Pohang branch of the Daegu District Court said it will serve Nippon Steel Corp., the defendant, with a notice of the asset seizure by publishing the notice on its website since the Japanese foreign ministry failed to deliver the documents to the company.

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Cheong Wa Dae vows 'stern' response to anti-North leaflet campaigns posing threat to security

SEOUL -- Cheong Wa Dae on Thursday condemned local activists' campaigns to send anti-North Korea propaganda leaflets across the border, vowing to respond "sternly" if the campaign poses a threat to national security.

"The spreading of (such) leaflets is good for nothing," a high-profile official at the presidential office told reporters in response to the North's statement denouncing the campaigns by some South Korean activists and North Korea defectors.

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Samsung frets over another legal battle over heir's controversial succession scheme

SEOUL -- Samsung Group, South Korea's top conglomerate, remained anxious Thursday over the possibility of its heir's return to jail, as prosecutors here sought an arrest warrant for Lee Jae-yong over his alleged involvement in a controversial merger between two affiliates a few years ago and fraudulent accounting, seen as aimed at smoothing out his succession.

The Seoul Central District Prosecutors Office said it requested arrest warrants for Samsung Electronics Vice Chairman Lee and two former executives as part of its investigation into the combination of the two Samsung affiliates -- Samsung C&T Corp. and Cheil Industries Inc. -- in 2015.
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