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Yonhap News Summary

All News 17:13 October 28, 2020

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

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(News Focus) Bumpy road lies ahead for Samsung Group under new leadership

SEOUL -- Samsung Group, South Korea's top conglomerate, has ushered in a new leadership following the passing of its longtime chief Lee Kun-hee, but daunting tasks lie ahead for the tech titan, from a possible governance structure change to fierce challenges from its foreign rivals.

Lee, one of most influential businessmen in the country's post-war era, died Sunday at age 78, wrapping up his 33-year reign of the world's top smartphone maker and memory chipmaker.

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Front-runner in WTO chief race to emerge after last round of selection process

SEOUL -- A front-runner in the race for the helm of the World Trade Organization (WTO) is set to be revealed Wednesday, as South Koreans are holding their breath to watch the fate of their country's finalist candidate, Yoo Myung-hee, in the hard-fought contest.

Wrapping up the monthslong selection process marked by intense power politics and behind-the-scenes diplomacy, the WTO is set to notify its member states of the outcome of the third and last round of consultations during which they indicated their preferences for either Yoo or her Nigerian competitor, Ngozi Okonjo-Iweala.

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(LEAD) Prosecution traces down alleged slush fund by Optimus CEO in fraudulent fund scheme case

SEOUL -- The prosecution is said to have been tracking down secret money allegedly hidden by the CEO of a financial company involved in a fraudulent fund scheme scandal, industry sources said Wednesday.

Prosecutors have secured testimony from a person familiar with the matter that Optimus CEO Kim Jae-hyun had stashed away around 20 billion won (US$17.7 million) in a real estate development company, which is constructing a resort in Incheon with an aim to finish in February 2022, according to the sources.

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(LEAD) Pro football player tests positive for COVID-19

DAEJEON -- A professional football player in the central city of Daejeon has tested positive for the novel coronavirus, becoming the first athlete from his sport to be infected during the pandemic.

According to the municipal authorities in Daejeon, 160 kilometers south of Seoul, late Tuesday, a member of Daejeon Hana Citizen in the second-tier K League 2 has tested positive for COVID-19.

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SM chief Lee Soo-man talks about online concerts, robots, avatars in future for K-pop

SEOUL -- Lee Soo-man, the chief producer and founder of one of South Korea's biggest music agencies SM Entertainment, mentioned the potential of online concerts, robots and avatars in the future for the K-pop industry during a forum here Wednesday.

The company, which manages K-pop megastars EXO, SHINee and NCT, was one of the first in the music industry to hold an online concert this year as the new coronavirus pandemic prompted governments to mandate social distancing and effectively blocked traditional concerts.

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Golf club gathering emerges as hotbed of novel coronavirus

SEOUL -- A gathering at a golf club in Yongin, south of Seoul, has emerged as a new hotbed for cluster infections of the new coronavirus, health authorities said Wednesday.

Virus cases traced to the golf gathering that took place on Oct. 17 came to 42, up 11 from a day earlier, according to the Korea Disease Control and Prevention Agency (KDCA).

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Retiring football legend says mental, not physical, issues pushed him into retirement

JEONJU -- Even at the age of 41, Lee Dong-gook has felt great physically in his 23rd professional football season.

But the Jeonbuk Hyundai Motors legend and K League's career scoring leader, in making his retirement official Wednesday, said he no longer has the mental toughness necessary to survive the grind.

(END)

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