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Yonhap News Summary

All News 17:00 June 18, 2020

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

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(LEAD) Moon to hold virtual summit with EU leaders on June 30

SEOUL -- South Korean President Moon Jae-in will hold a virtual summit with European Union leaders late this month mainly on the novel coronavirus and the Korean Peninsula issue, Moon's office announced Thursday.

Moon is scheduled to have the session with EU Council President Charles Michel and European Commission President Ursula von der Leyen in the afternoon of June 30 (Seoul time), according to Cheong Wa Dae spokesman Kang Min-seok.

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(LEAD) Regulator allows Apple to draw up measures to correct anti-competitive practices

SEOUL -- South Korea's antitrust regulator said Thursday that it has decided to allow Apple Korea to map out a set of measures to address its anti-competitive business practices here, a move that could end a dispute over its alleged violation of competition law.

The Fair Trade Commission said it will review detailed corrective measures crafted by Apple Korea and decide whether to approve them.

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(3rd LD) Drug safety agency revokes permit for Medytox's botulinum toxin products

SEOUL -- South Korea's drug safety watchdog said Thursday it has decided to revoke the permit of the country's first botulinum toxin products by Medytox for using an unapproved ingredient and fabricating related documents.

The three Meditoxin products -- which come in bottles of 50 units, 100 units and 150 units -- will be permanently removed from domestic shelves starting on June 25, according to the Ministry of Food and Drug Safety.

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ADB expects S. Koran economy to contract 1 pct this year amid pandemic

SEOUL -- The Asian Development Bank (ADB) on Thursday sharply revised down its 2020 growth estimate for South Korea, along with that for the entire Asian region, expecting Asia's fourth-largest economy to shrink 1 percent from a year earlier.

The revision marks a turnaround from a 1.3 percent on-year growth forecast in April. Last year, the Korean economy expanded 2 percent.

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(LEAD) Seoul city adds 25 new coronavirus cases, persisting infections raise fears in metropolitan area

SEOUL -- Amid heightened alert over new coronavirus infections in the metropolitan area, the number of new cases reported in South Korea's capital increased by 25 on Thursday, due mostly to a sharp rise in infections traced to a facility for the elderly.

All but one of the 25 cases were locally transmitted. Eleven were linked to a day care center for senior citizens in the northeastern ward of Dobong, which raised the number of related cases to 38, according to the Korea Centers for Disease Control and Prevention (KCDC).

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Moon to hold virtual summit with EU leaders on June 30

SEOUL -- South Korean President Moon Jae-in will hold a virtual summit with European Union leaders late this month mainly on the novel coronavirus and the Korean Peninsula issue, Moon's office announced Thursday.

Moon is scheduled to have the session with EU Council President Charles Michel and European Commission President Ursula von der Leyen in the afternoon of June 30 (Seoul time), according to Cheong Wa Dae spokesman Kang Min-seok.

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(2nd LD) New virus cases at 3-week high, greater Seoul gripped by more cluster infections

SEOUL -- South Korea's new virus cases rose by the most in three weeks Thursday, as cluster infections have continued to swell in the greater Seoul area and outside the capital.

Health authorities warned of a potential second wave of the virus outbreak and tougher anti-infection measures nationwide.

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Korean Air, Asiana extend mileage expiration by 1 year amid pandemic

SEOUL -- Korean Air Lines Co. and Asiana Airlines Inc. -- South Korea's two largest airlines -- said Thursday they will extend mileage points, set to expire this year, by one year amid the new coronavirus outbreak.

The two carriers made the decision as the COVID-19 pandemic has greatly affected passenger travel due to reduced routes and entry restrictions this year.

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Seoul stocks snap 2-day winning streak amid spreading coronavirus concerns

SEOUL -- South Korean stocks closed lower Thursday, ending a two-session gaining streak, on investor concerns over a second wave of new coronavirus infections in the world's two largest economies. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 7.57 points, or 0.35 percent, to close at 2,133.48. Trading volume was moderate at about 754 million shares worth some 10.8 trillion won (US$8.9 billion), with winners outnumbering losers 523 to 331.
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