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Yonhap News Summary

All News 13:30 August 09, 2021

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

New infections under 1,500 on fewer tests; cases piling up outside of Seoul

SEOUL -- South Korea's daily new coronavirus cases fell back to below 1,500 on Monday on fewer tests over the weekend as the country has extended its highest virus rules for another two weeks due to relentless spread of the virus.

The country added 1,492 COVID-19 cases, including 1,455 local infections, raising the total caseload to 212,448, according to the Korea Disease Control and Prevention Agency (KDCA).

S. Korea, U.S. to hold preliminary training this week ahead of main exercise

SEOUL -- South Korea and the United States will conduct a preliminary training this week in the run-up to next week's main summertime military exercise that North Korea has warned against staging, sources said Monday.

The four-day crisis management staff training will begin Tuesday, followed by the computer-simulated Combined Command Post Training scheduled for Aug. 16-26, according to the sources.

(LEAD) Another private equity fund joins consortium to acquire SsangYong Motor

SEOUL -- Another homegrown equity fund renowned for its failed attempt to take over the holding company of the country's largest airline last year has joined a consortium to acquire SsangYong Motor Co., the consortium said Monday.

The Korea Corporate Governance Improvement (KCGI) fund came aboard the consortium that Edison Motors Co. formed with the Keystone private equity fund and two other financial investors to buy the debt-ridden carmaker at an upcoming auction, Edison Motors said in a statement.

Improper excavation procedures blamed for deadly Gwangju building collapse

SEOUL -- A five-story building in the southwestern city of Gwangju collapsed during a demolition process due to improper excavation procedures that added excessive weight near the bottom, the transport ministry said Monday.

The building collapsed on June 9 and fell onto a bus that was stopped at a bus stop near the construction site, leaving nine people dead and eight others seriously injured.

Game developer Krafton set to go public this week

SEOUL -- Video game developer Krafton Inc. is slated to debut on the country's stock market this week, marking one of the largest initial public offering (IPO) events this year.

The developer behind the global hit "PlayerUnknown's Battlegrounds" (PUBG) will go public on the main bourse Tuesday, with its offering price set at 498,000 won (US$433.99).

Gyeonggi Gov. Lee in virtual tie with ex-Prosecutor General Yoon in presidential hopefuls' poll

SEOUL -- Ex-Prosecutor General Yoon Seok-youl, the front-running opposition presidential contender, saw his approval rating lose ground to become on par with that of Gyeonggi Province Gov. Lee Jae-myung, a poll on prospective presidential hopefuls showed Monday.

According to the survey conducted on 1,004 voters nationwide by the Korea Society Opinion Institute on Friday and Saturday, Yoon from the main opposition People Power Party (PPP) garnered 28.3 percent of support, down 4 percentage points from a week earlier.

S. Korea to explore all possibilities of helping N.K. with recovery from flood damage: unification ministry

SEOUL -- South Korea will try to help North Korea with recovery efforts in a flood-hit eastern province while leaving all possibilities open as to how to provide assistance, the unification ministry said Monday.

The remark came a day after North Korean state media reported that leader Kim Jong-un ordered full state support for recovery efforts in South Hamgyong Province, hit hard by recent heavy downpours, and that the country held an emergency meeting of the provincial military commission to discuss recovery plans.

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