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Yonhap News Summary

Yonhap News Summary 13:30 September 09, 2021

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

(4th LD) N. Korea holds midnight military parade without Kim's address, new weapons

SEOUL -- North Korea held a midnight military parade to mark the 73rd anniversary of its founding with leader Kim Jong-un in attendance, but he did not deliver an address and no new strategic weapons were displayed, according to state media and South Korean officials.

The parade, which began at midnight Thursday, was watched closely by South Korea and others because the North could show off state-of-the-art weapons systems or leader Kim could make a speech about inter-Korean relations or nuclear talks with the United States.

EU's top diplomat vows support for dismantling N. Korea's nuclear program

SEOUL -- The foreign policy chief of the European Union (EU) pledged support Thursday for building peace on the Korean Peninsula, stressing the importance of implementing sanctions on North Korea in ending its nuclear program.

Josep Borrell, High Representative of the Union for Foreign Affairs and Security Policy, made the remarks in a congratulatory message to an opening ceremony for an annual international security forum hosted by the defense ministry in Seoul.

Senior diplomats of S. Korea, U.S. reaffirm cooperation on pandemic, other global issues

WASHINGTON -- Senior diplomats of South Korea and the United States reaffirmed their countries' commitment to jointly tackle various global issues, including climate change and the COVID-19 pandemic, the State Department said Wednesday.

The department said Under Secretary of State for Economic Growth, Energy and the Environment Jose Fernandez and South Korea's Second Vice Foreign Minister Choi Jong-moon also agreed to continue advancing the countries' cooperation in a telephone conversation held Tuesday (U.S. time).

(News Focus) IOC suspension of N. Korea latest wrinkle in inter-Korean sports cooperation

SEOUL -- A recent decision by the International Olympic Committee (IOC) to suspend North Korea until the end of 2022 for skipping the Tokyo Olympics has added another wrinkle to inter-Korean sports cooperation and exchanges, which have been dormant for the past couple of years.

North Korea announced in early April it would not take part in the Tokyo Games, citing the need to protect its athletes from the raging coronavirus pandemic. The decision had been reached in late March.

New cases exceed 2,000 for 2nd day amid worries over further upticks

SEOUL -- South Korea's daily coronavirus cases remained in the 2,000s for the second day Thursday as health authorities warned that new infections may further rise ahead of a major national holiday when millions travel.

The country added 2,049 more COVID-19 cases, including 2,018 local infections, raising the total caseload to 267,470, according to the Korea Disease Control and Prevention Agency (KDCA).

S. Korea's economy tipped to expand 3.9 pct in 2021 on strong exports

SEOUL -- South Korea's economy is expected to expand 3.9 percent this year on the back of robust outbound shipments, although a delay in the local supply of COVID-19 vaccines may hinder the growth, a local research institute said Thursday.

The outlook came as exports of Asia's No. 4 economy are expected to grow 9.6 percent on-year in 2021, marking a sharp turnaround from the 2.4-percent drop in 2020, the Korea Economic Research Institute (KERI) said in its report.

BOK reaffirms gradual shift in monetary easing

SEOUL -- South Korea's central bank said Thursday it will gradually adjust its monetary easing as it seeks to meet its inflation target of 2 percent for this year amid signs of a robust recovery from the COVID-19 pandemic.

In a regular monetary report, however, the Bank of Korea (BOK) said the timing of another rate hike will depend on a resurgence of COVID-19 infections and risks of financial imbalances.

Tax revenue up 6.3 tln won in July amid economic recovery

SEOUL -- South Korea's tax revenue rose 6.3 trillion won (US$5.4 billion) in July from a year earlier amid an economic recovery and a boom in asset markets, the finance ministry said Thursday.

The country collected 41.9 trillion won in taxes in July, larger than 35.6 trillion won the previous year, according to the Ministry of Economy and Finance.


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