Go to Contents Go to Navigation

Yonhap News Summary

Economy 17:27 September 14, 2021

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

-----------------
(LEAD) S. Korea, U.S. have yet to determine details of N. Korea's recent cruise missile tests: sources

SEOUL -- South Korea and the United States have yet to figure out detailed information on North Korea's latest cruise missile tests, including the location of their launch and impact sites, sources said Tuesday.

The North's Korean Central News Agency (KCNA) reported on Monday that the country successfully conducted tests of a new long-range cruise missile on Saturday and Sunday, which flew around 1,500 kilometers for about two hours and hit targets.

-----------------
(LEAD) Moon meets BTS, tapped as his special envoy, ahead of U.N. event next week

SEOUL -- President Moon Jae-in met with the members of BTS, a popular South Korean boy band, at his office Tuesday and awarded them the certificates of appointment as his special envoy for public diplomacy.

BTS will begin activities in earnest as the "special presidential envoy for future generations and culture" by attending an annual United Nations General Assembly session in New York next week, according to Cheong Wa Dae.

-----------------
(LEAD) Typhoon Chanthu brings heavy rain to Jeju, flooding roads, overwhelming sewer system

SEOUL -- Typhoon Chanthu is dumping heavy rain and bringing strong winds to the southern island of Jeju, a weather agency said Tuesday, triggering flash floods that inundated at least two cars.

The season's 14th typhoon, packing wind gusts of up to 39 meters per second, passed 210 kilometers east of Shanghai as of 9 a.m. Tuesday and is expected to come the nearest to the island Friday, the Korea Meteorological Administration said.

-----------------
(2nd LD) New cases under 1,500 for 2nd day; infections in capital area at peak

SEOUL -- South Korea's daily coronavirus cases stayed under 1,500 for the second straight day Tuesday as health authorities worry about a potential virus flare-up during a major holiday that starts later this week.

The country added 1,497 COVID-19 cases, including 1,463 local infections, raising the total caseload to 275,910, according to the Korea Disease Control and Prevention Agency (KDCA).

-----------------
BTS, Coldplay post videos of work on collaboration single

SEOUL -- South Korean superband BTS and British rock band Coldplay on Tuesday posted videos of what appeared to be a rehearsal for their upcoming collaboration single "My Universe."

The song's Sept. 24 release was announced by Warner Music Korea on Monday, confirming rumors that had been circulating for months about the collaboration.

-----------------
Environmentally conscious K-pop fans move to protect BTS 'Butter' beach

SEOUL -- K-pop fans launched a campaign to help protect a beach in eastern Korea that has become popular after the global superstars BTS shot their photos for the "Butter" album.

Korea Beyond Coal, a civic group dedicated to fighting against climate change, said they started the "Save Butter Beach Campaign," jointly with Kpop4planet, a group of global K-pop fans interested in environmental issues, to stop a coal-fired electrical power plant from being built near Maengbang Beach in Samcheok, Gangwon Province.

-----------------
(2nd LD) Rev. Cho Yong-gi, founder of Yoido Full Gospel Church, dies

SEOUL -- Rev. Cho Yong-gi, the founder of Yoido Full Gospel Church in Seoul, died Tuesday. He was 85.

The pastor emeritus of the world's largest congregation passed away at 7:13 a.m. at a Seoul hospital. He had been under medical treatment suffering a cerebral hemorrhage since last year.

-----------------
(3rd LD) U.S. ready to help address N.K. humanitarian concerns regardless of denuclearization: envoy

TOKYO/SEOUL -- The United States is prepared to work with North Korea to address its humanitarian concerns "regardless of progress on denuclearization," Washington's point man on Pyongyang said Tuesday.

Ambassador Sung Kim made the remarks after holding three-way talks with his South Korean and Japanese counterparts, Noh Kyu-duk and Takehiro Funakoshi, respectively, in Tokyo to discuss humanitarian aid and other incentives to resume dialogue with the North.

-----------------
Minister says North's missiles detected by combined S. Korea-U.S. assets

SEOUL -- North Korea's long-range cruise missiles launched over the weekend were detected by the joint assets of South Korea and the United States, and an initial analysis is still underway, Defense Minister Suh Wook said Tuesday.

Suh made the remarks in response to lawmakers' questions during the National Assembly's interpellation session, where he was intensively asked if the military had detected the North's latest missile launches.

-----------------
(LEAD) Seoul stocks up for 3rd day ahead of U.S. inflation data release

SEOUL -- South Korean stocks advanced for the third straight session Tuesday as investors await the release of U.S. consumer price data, seeking more clues about the Federal Reserve's tapering timeline. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 20.97 points, or 0.67 percent, to close at 3,148.83 points.

-----------------
Lions' pitcher Montgomery banned 20 games by KBO for throwing rosin bag at umpire

SEOUL -- Samsung Lions' American pitcher Mike Montgomery has been suspended for 20 games after hurling a rosin bag at an umpire in a recent game.

The Korea Baseball Organization (KBO) announced Tuesday that Montgomery will also have to pay a fine of 3 million won (US$2,570) for his action during a game last Friday.

-----------------
S. Korea rejects Japan's claim over court ruling on wartime forced labor

SEOUL -- The foreign ministry on Tuesday rejected Japan's claims that it violates the international law for South Korea to seize a Japanese firm's assets here to compensate wartime forced labor victims.

Tokyo's Chief Cabinet Secretary Katsunobu Kato made the argument Monday after South Korea's Supreme Court dismissed an appeal by Mitsubishi Heavy Industries Ltd. of a lower court's order to seize its six patent rights and two trademark rights registered in the South.

-----------------
(LEAD) All artifacts from Baekje king's tomb go on display for first time

GONGJU, South Korea -- Gongju National Museum on Tuesday opened the first-ever exhibition of all 5,232 artifacts that were excavated 50 years ago from the tomb of King Muryeong, who ruled the Baekje Kingdom in the sixth century.

The exhibition, which marks the 50th anniversary of the tomb's discovery, offers a rare opportunity to view some of the most valuable cultural assets of the Baekje Kingdom (18 B.C.-A.D. 660), including 12 designated national treasures, and showcases the wooden coffins, jewelry and other articles assigned to Baekje's 25th king, who reigned from 501-523, and his queen.

-----------------
(2nd LD) Google fined 207 bln won for anti-competition practice in mobile OS market

SEOUL -- South Korea's antitrust regulator said Tuesday it has decided to fine global tech giant Google 207.4 billion won (US$176.8 million) for pressing smartphone makers into only using its Android mobile operating system.

Since 2016, the Korea Fair Trade Commission (KFTC) has been looking into Google over allegations it obstructed local smartphone makers, such as Samsung Electronics Co. and LG Electronics Inc., from using operating systems developed by rivals.

-----------------
(2nd LD) Kakao creates 300 bln won fund for small merchants amid growing scrutiny over market dominance

SEOUL -- South Korean internet giant Kakao Corp. said Tuesday it has decided to form a 300 billion won (US$256.2 million) fund for small merchants and scrap some of its services that compete against them, in a move to appease growing scrutiny from regulators and politicians over its rapidly expanding online platform empire.

The company said the fund will be able to help support small businesses on its platform over the next five years, while some of its services, such as flower delivery, which have stirred controversy for taking business away from mom-and-pop stores, will be shelved.
(END)

HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!