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Yonhap News Summary

Yonhap News Summary 13:30 September 08, 2021

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

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(LEAD) New cases spike to over 2,000 again; rising infections in greater Seoul worrisome
(ATTN: UPDATES with more details in paras 9, 14, 16; CHANGES photos)

SEOUL -- South Korea's daily new coronavirus cases surged to over 2,000 again in a week on Wednesday as authorities step up antivirus efforts and the vaccination drive to curb the pandemic.

The country added 2,050 more COVID-19 cases, including 2,014 local infections, raising the total caseload to 265,423, according to the Korea Disease Control and Prevention Agency (KDCA).

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Banks' household loans grow at slower pace in Aug.

SEOUL -- South Korean banks' household loans grew at a slower pace in August from the previous month due largely to slowed growth in overdrafts for stock investments, central bank data showed Wednesday.

Outstanding bank loans to local households came to 1,046.3 trillion won (US$898 billion) as of end-August, up 6.2 trillion won from the previous month, according to the data from the Bank of Korea (BOK).

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Major Korean conglomerates set up council for hydrogen economy

SEOUL -- The heads of South Korea's major conglomerates on Wednesday launched a business council to foster hydrogen as a clean energy source and expand its value chain.

Heads of 10 conglomerates, including Hyundai Motor, SK, POSCO, Lotte and Hanwha, launched Korea H2 Business Summit to encourage corporate investments and expand the hydrogen industry's value chain ranging from production, transport, storage and uses.

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Court again rules against family of wartime forced labor victim

SEOUL -- The Seoul Central District Court on Wednesday again ruled against the bereaved family of a victim of World War II forced labor in a damages suit against a Japanese company.

Four children of the late victim, surnamed Jeong, filed the suit in April 2019 seeking 200 million won (US$171,940) in compensation from Japan's Nippon Steel Corp.

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BOK forecast to hike key rate again in Nov.

SEOUL -- South Korea's central bank is expected to raise its interest rate in November to cope with concerns over a financial imbalance, a report said Wednesday.

"The Bank of Korea is likely to raise its benchmark rate to 1 percent from 0.75 percent at its Nov. 25 policy meeting in consideration of worries about a financial imbalance related to an economic recovery, rising inflation and the hot housing market," Woori Finance Research Institute said in the report on the local financial market.

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Disney+ to launch in S. Korea on Nov. 12

SEOUL -- Disney+, the flagship streaming service of Walt Disney Co., will land in South Korea on Nov. 12, the company said Wednesday, heating up competition in the local video streaming market.

Walt Disney Company Korea said the highly awaited service will give South Koreans access to the media giant's trove of content from Pixar productions to Marvel and Star Wars franchises.
(END)

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