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Yonhap News Summary

All News 13:30 August 04, 2020

The following is the first summary of major stories moved by Yonhap News Agency on Tuesday.

Damage from heavy rain continues to grow in S. Korea

SEOUL -- Damage from heavy rain that pounded the country's central region earlier this week continued to grow, leaving 12 dead and 14 missing as of Tuesday.

More than 1,000 were forced to leave their homes, while some 5,751 hectares of farm land were swamped or buried as of 6 a.m., according to the Central Disaster and Safety Countermeasure Headquarters.

(LEAD) New virus cases again over 30, imported cases still on high plateau

SEOUL -- South Korea reported 34 more cases of the new coronavirus Tuesday, with the number of imported cases almost twice that of local infections, health authorities said.

The new cases -- 21 imported cases and 13 local infections -- raised South Korea's total cases of COVID-19 to 14,423, according to the Korea Centers for Disease Control and Prevention (KCDC).

(2nd LD) S. Korea to add 132,000 housing units in greater Seoul area to stabilize home prices

SEOUL -- South Korea plans to supply 132,000 housing units in Seoul and its neighboring area, in the latest effort to stabilize home prices and ease fears of shortages, Finance Minister Hong Nam-ki said Tuesday.

The government will ease some construction rules, allowing redevelopment projects of aging apartment buildings to increase their floor area ratio to up to 500 percent to build more homes, Hong said.

(LEAD) Japanese company to appeal S. Korean court decision on asset seizure: reports

SEOUL/TOKYO -- A Japanese company plans to appeal a South Korean court decision on the seizure of its assets here to compensate victims of wartime forced labor, reports said Tuesday, a move that would defer the judicial process feared to worsen tensions between the two countries.

Nippon Steel Corp. will file an appeal immediately, as a branch of the Daegu District Court has become able to kick off the procedure to liquidate some of its stake in PNR, a joint venture established with Korea's top steelmaker, POSCO, according to Japan's Kyodo News and NHK.

(2nd LD) U.S. names new envoy for defense cost-sharing talks

WASHINGTON -- The U.S. State Department has named a new envoy for defense cost-sharing negotiations with South Korea and other nations, a department spokesperson said Monday.

Donna Welton, who recently served as assistant chief of mission at the U.S. Embassy in Afghanistan, will succeed Jim DeHart, who was appointed last week as the U.S. coordinator for the Arctic region.

Military closely monitoring N. Korea amid U.N. report on miniaturized nuclear devices

SEOUL -- South Korea is closely monitoring North Korea's nuclear and missile activities, the defense ministry said Tuesday, following a media report that Pyongyang appears to have developed miniaturized nuclear devices.

Citing a confidential United Nations report, Reuters reported that several countries believe that the North has "probably developed miniaturized nuclear devices to fit into the warheads of its ballistic missiles."

(LEAD) S. Korea's inflation rises 0.3 pct in July

SEJONG -- South Korea's annual inflation rose 0.3 percent in July, marking the first upturn in three months, as signs of a recovery in consumer sentiment have appeared amid the coronavirus pandemic, data showed Tuesday.

The July tally compares with zero growth in June, according to the data released by Statistics Korea.

The nation's inflation was unchanged on-month, the data showed.

Zombie blockbuster 'Peninsula' posts $40 mln in revenue in 8 Asian nations

SEOUL -- The combined revenue of the South Korean zombie blockbuster "Peninsula" has topped US$40 million in eight Asian countries, the film's local distributor said Tuesday.

Released on July 15 in South Korea and Taiwan, the movie posted a cumulative $10 million in revenue in its third week in Taiwan, becoming the biggest box office hit in the country, according to NEW.

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