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Yonhap News Summary

Yonhap News Summary 17:44 July 30, 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 6-month high on tech firms, automakers

SEOUL -- South Korean shares closed at the highest point in six months Thursday on the back of foreign buying that centered on major tech firms and automakers. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.85 points, or 0.17 percent, to close at 2,267.01, extending a winning streak to a fourth session after touching this year's high of 2,281.33 points. The closing marks the highest level since 2,267.25 on Jan. 22.

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(5th LD) After strong Q2 results, Samsung expects solid chip demand, recovery in mobile biz

SEOUL -- Samsung Electronics Co. said Thursday it expects solid demand of chips and a gradual recovery in the mobile phone sector in the second half of the year as the world's largest memory chipmaker racked up strong second-quarter earnings.

Samsung's net profit stood at 5.55 trillion won (US$4.7 billion) in the April-June period, up 7.23 percent from a year earlier, the South Korean tech giant said in a regulatory filing.

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(2nd LD) LG sees gradual recovery in home appliance biz after downbeat Q2 earnings

SEOUL -- LG Electronics Inc. on Thursday reported weak second-quarter earnings due to the fallout from the novel coronavirus, but the company said it expects a gradual recovery in its home appliance business during the current quarter.

South Korea's No. 2 electronics company said its net profit stood at 65.6 billion won (US$54.9 million) in the April-June period, down 38.1 percent from a year earlier.

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(LEAD) HDC still committed to Asiana takeover, calls for another round of due diligence

SEOUL -- HDC Hyundai Development Co., a major property developer, on Thursday called on creditors of Asiana Airlines Inc. to join another round of due diligence on the debt-laden carrier as it wants to proceed with its plan to take over the carrier.

On Sunday, HDC demanded an additional due diligence on Asiana Airlines for 12 weeks beginning in mid-August amid the new coronavirus outbreak's growing impact on the airline's financial status.

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Runaway N. Korean defector unlikely to have contracted coronavirus: KCDC

SEOUL -- A North Korean defector suspected of having fled back to his communist homeland is unlikely to have been infected with the new coronavirus here despite Pyongyang's claim that he had virus symptoms, Seoul's health authorities said Thursday.

North Korea's state media claimed Sunday that a defector returned home from South Korea with suspected virus symptoms, prompting the country to adopt a "maximum emergency system" against the coronavirus.

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Talks on defense cost-sharing will proceed without hitch: ministry

SEOUL, July 30 -- Defense cost-sharing talks with the United States will proceed without a hitch, the foreign ministry in Seoul said Thursday, after the U.S. announced the reshuffle of its chief negotiator to a different post.

The State Department said Wednesday that it has appointed James DeHart, the U.S. envoy for the defense cost-sharing talks, as a coordinator for the Arctic region. His successor has yet to be announced.

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(LEAD) Two bills aimed at enhancing tenants' rights pass through assembly

SEOUL -- Two far-reaching real estate bills passed through the National Assembly's full-floor session Thursday, aiming to enhance tenants' rights in the face of skyrocketing home prices.

The move comes as the soaring property values have fueled public discontent toward the Moon Jae-in government despite its desperate efforts to make homes more affordable, especially in the capital Seoul.

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3 more USFK-affiliated Americans test positive for new coronavirus

SEOUL -- One more American service member and two U.S. defense department employees tested positive for the new coronavirus upon arrival in South Korea this week, the U.S. Forces Korea said Thursday.

The service member arrived at Osan Air Base in Pyeongtaek, some 70 kilometers south of Seoul, on a U.S. government-chartered flight from the United States on Monday. The two workers for the Department of Defense Education Activity arrived at Incheon International Airport, west of Seoul, on a commercial flight Tuesday, according to the USFK.


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