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Yonhap News Summary

Yonhap News Summary 17:02 February 16, 2021

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

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(3rd LD) N. Korean man captured after crossing inter-Korean border: JCS

SEOUL -- A North Korean man was caught after crossing into South Korea via the eastern border, the Joint Chiefs of Staff (JCS) said Wednesday, amid a possibility that he could have sought to defect to the South.

South Korean troops detected the man at around 4:20 a.m. through a CCTV surveillance camera as he was moving south near a military checkpoint located inside a restricted area north of the Civilian Control Line in the east coast border town of Goseong, according to the JCS.

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(LEAD) Gov't seeks to submit extra budget bill in early March: finance minister

SEOUL -- South Korea's finance minister said Tuesday the government is seeking to submit an extra budget bill in early March in a bid to provide targeted support to merchants and businesses hit hard by the pandemic.

Finance Minister Hong Nam-ki said in a parliamentary session that the country is considering expanding the recipients of the fourth round of emergency relief funds, including to merchants whose yearly sales top 400 million won (US$364,000).

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Moon says 'innovative' expansion of housing supply is urgent, presses land ministry to succeed in new policy

SEOUL -- President Moon Jae-in emphasized the urgency Tuesday of significantly increasing the supply of new houses in an "innovative" way to stabilize the market.

He was receiving a briefing from the land ministry on its 2021 policy at Cheong Wa Dae.

"I cannot but stress that real estate policy is the most urgent task in this period, in which the Ministry of Land, Infrastructure and Transport should succeed at all costs," Moon said.

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Volleyball players accused of bullying likely to lose future coaching opportunities

SEOUL -- South Korean professional volleyball players recently suspended for bullying their former school teammates will face hurdles when seeking coaching opportunities in the future, the sport's national governing body said Tuesday.

Volleyball's V-League is reeling from a bullying scandal centered on two of the biggest stars in the women's division, Lee Jae-yeong and her twin sister Lee Da-yeong of the Heungkuk Life Pink Spiders. The 24-year-old sisters have admitted to allegations of physical, verbal and emotional abuse raised by their former middle school teammate, and their club has suspended them indefinitely. The Korea Volleyball Association (KVA) has also banned them from the national team until further notice.

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Appellate court rejects Mitsubishi Heavy's appeals against asset seizure order

DAEJEON -- A South Korean appellate court has dismissed Japanese company Mitsubishi Heavy Industries' appeal against a lower court's order to seize its assets held here to compensate victims of Japan's wartime forced labor, judicial officials said Tuesday.

The Daejeon District Court's appellate division in the central South Korean city made the decision last Tuesday to reject Mitsubishi's appeals lodged last December against a seizure order for six patent rights and two trademark rights, the officials said.

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(LEAD) Seoul stocks up for 3rd day on extended foreign buying

SEOUL -- South Korean stocks gained for a third consecutive session Tuesday, backed by signs of global economic rebound that increased foreigners' appetite for risky assets. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.25 points, or 0.52 percent, to close at 3,163.25 points.

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