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Yonhap News Summary

Yonhap News Summary 13:30 September 10, 2020

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

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(LEAD) Gov't to allocate 7.8 tln won for extra budgets in stimulus package: Moon

SEOUL -- President Moon Jae-in said Thursday his government has decided to draw up a new supplementary budget, worth 7.8 trillion won (US$6.5 billion), for a "tailored" relief package to help people in urgent need amid the COVID-19 crisis.

He added that 3.8 trillion won of the budget will be used for another round of stimulus cash handouts to benefit a total of 3.77 million people.

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(2nd LD) New virus cases under 200 for 8th day; extension of stricter virus measures again under review

SEOUL -- South Korea's new virus cases stayed below 200 for the eighth consecutive day Thursday, but a spate of cluster infections continued to strain the country's efforts to bring the daily numbers under two digits.

The government will decide this week whether to extend tougher anti-virus measures in place in the greater Seoul area.

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(LEAD) S. Korea sells bonds worth US$625 mln, 700 mln euros for forex stabilization

SEJONG -- South Korea issued bonds worth US$625 million and 700 million euros for its foreign exchange stabilization scheme, the finance ministry said Thursday.

The 10-year dollar-denominated bonds carry a yield of 1.198 percent, or 50 basis points more than U.S. Treasuries, the Ministry of Economy and Finance said in a statement.

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(LEAD) Resumption of N. Korean weapons testing only matter of time: U.S. expert

WASHINGTON -- North Korea appears to be ready to resume its nuclear and weapons testing in the near future, a former U.S. intelligence official said Wednesday, stressing the need for "stronger" incentives or punishment for the communist state.

"Another big element we need to think about is that additional weapons testing is probably just a matter of time," said Markus Garlauskas, a former intelligence officer for North Korea at the Office of the Director of National Intelligence.

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Korea-U.S. alliance is basis of Korean security: vice foreign minister

WASHINGTON -- South Korea's alliance with the United States continues to provide the basis for its diplomacy and security while the country also relies on its close economic ties with China for development, South Korean Vice Foreign Minister Choi Jong-kun said Wednesday.

"We will first listen to what kind of vision and roadmap (the U.S.) has, and will offer our views if possible," Choi said when asked what he thought about U.S.' drive to launch and formalize what it calls a NATO-like collective structure in the Indo-Pacific as a counter to the rise of China.

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BTS tops Billboard's Artist 100 and Social 50 charts

SEOUL -- K-pop superstar BTS topped the Billboard Artist 100 and Social 50 charts as its new single "Dynamite" scored its second week at No. 1 on the Billboard Hot 100.

Billboard said Wednesday (U.S. local time) that BTS ranked No. 1 for the second consecutive week on this week's Artist 100 chart for measuring artist popularity.

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Justice minister asked defense ministry to extend son's leave: document

SEOUL -- Justice Minister Choo Mi-ae and her husband asked the defense ministry in 2017 to extend medical leave for their son who was serving his mandatory military duty at the time, according to documents apparently written by the ministry.

Choo has come under fire over allegations that she used her influence to seek special favors for her son, who served in the Korean Augmentation to the United States Army (KATUSA) for the 2nd Infantry Division of the U.S. 8th Army. Choo was chairwoman of the ruling Democratic Party at the time.

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(LEAD) Kakao Games makes splash in KOSDAQ debut

SEOUL -- Kakao Games, the game developing unit of South Korean mobile giant Kakao, made a strong market debut Thursday, trading at more than double the initial public offering (IPO) price.

As of 10:10 a.m., Kakao Games traded at 48,000 won (US$40.49), twice the IPO price, and instantly surged by the daily permissible limit of 30 percent to 62,400 won per share. Its market capitalization stood at 4.6 trillion won, the fifth largest on the secondary, tech-laden KOSDAQ market.

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N.K. paper highlights all-out recovery efforts from 3 consecutive typhoons

SEOUL -- North Korea is making all-out efforts to recover from typhoon damage in the country's eastern regions, state media said Thursday, in a move seen in part as aimed at solidifying internal unity ahead of the founding anniversary of its ruling party next month.

The North has been hit by three consecutive typhoons in recent weeks, with the latest one, Haishen, lashing the country's eastern regions Monday. Earlier, state media said that about 12,000 elite party members in Pyongyang headed to the typhoon-hit Hamgyong Province to help with recovery efforts.
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