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Yonhap News Summary

Yonhap News Summary 17:30 October 14, 2020

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

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(LEAD) Seoul stocks tumble almost 1 pct over virus scare

SEOUL -- South Korean shares dipped nearly 1 percent Wednesday as a new coronavirus cluster infection threatened hopes for quick economic recovery. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 22.67 points, or 0.94 percent, to close at 2,380.48.

Trading volume was moderate at about 880 million shares worth some 10.5 trillion won (US$9.2 billion), with losers outnumbering gainers 638 to 227.

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(LEAD) Cheong Wa Dae says S. Korea-Japan summit talks needed to resolve bilateral problem

SEOUL -- Cheong Wa Dae said Wednesday it is important for the leaders of South Korea and Japan to meet each other in order to resolve pending issues that have strained bilateral ties.

The presidential office was responding to a news report that Japan's new prime minister, Yoshihide Suga, will consider boycotting an annual trilateral forum, expected to be held in Seoul later this year, unless Seoul takes measures especially to address the dispute over compensating Korean victims of Japan's wartime forced labor.

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S. Korea continues efforts to stabilize FX markets

SEJONG -- South Korea's vice finance minister said Wednesday that the government has continued efforts to stabilize foreign exchange markets, citing the "relatively speedy" strength of the Korean currency against the U.S. dollar.

Vice Finance Minister Kim Yong-beom made the remarks at a policy meeting, as the won has been recently trading at a level of 1,140 won against the U.S. dollar, compared with a level of 1,180 won in mid-September.

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(LEAD) Moon instructs Cheong Wa Dae to cooperate with probe into investment fund scandal: Cheong Wa Dae

SEOUL -- President Moon Jae-in has ordered his Cheong Wa Dae aides to cooperate "actively" with state prosecutors' ongoing investigation into a high-profile financial fraud and corruption scandal allegedly involving some former and current senior government and ruling party officials, according to his office Wednesday.

Moon stressed that no one can be immune to a strict probe by the prosecution service, according to Cheong Wa Dae spokesman Kang Min-seok.

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Gov't considering raising crowd cap in pro sports next month

SEOUL -- Sports stadiums across South Korea may open their gates even wider for their fans next month.

The sports ministry announced Wednesday it will consider increasing the cap placed on the size of crowds at sports games from the current 30 percent to up to 50 percent, starting in November.

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Family of slain S. Korean demands release of colleagues' statements

INCHEON -- The family of the South Korean fisheries official shot dead by North Korean troops at sea last month on Wednesday demanded the Coast Guard release statements from colleagues, casting doubt over authorities' assessment that the official sought defection to the North before meeting his doom.

Lee Rae-jin, the elder brother of the deceased official, held a press conference at the headquarters of the Korea Coast Guard in Incheon, west of Seoul. Along with a letter of protest, Lee filed a request with the Coast Guard demanding the release of statements from the nine colleagues who were aboard the Mugunghwa 10 with the official in the waters around Yeonpyeong Island on Sept. 22.

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BTS becomes 1st artist to top Billboard Social 50 chart for 200th consecutive week

SEOUL -- K-pop superstar BTS became the first-ever musical act in history to top Billboard's Social 50 chart for 200 weeks in a row this week.

Billboard said Tuesday (U.S. time) that BTS ranked No. 1 on this week's Social 50 chart, reigning the chart for the longest ever streak by any musician.
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