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Yonhap News Summary

Stocks 17:00 September 16, 2021

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

(LEAD) Jeju braces for Typhoon Chanthu

SEOUL -- Jeju is preparing for the impact of Typhoon Chanthu, which is heading toward the resort island from the south, packing maximum winds of 29 meters per second and likely to unleash up to 400 millimeters of torrential rain.

The Korea Meteorological Administration predicted the slow-moving typhoon to begin picking up speed Thursday afternoon and move the closest to the island around 8 a.m. Friday.

(LEAD) New cases fall under 2,000; post-holiday infections in focus

SEOUL -- South Korea's daily coronavirus cases fell under 2,000 on Thursday, but health authorities are keeping their guard up against potential virus flare-ups after an upcoming major holiday as infections continue to spread in the capital area.

The country added 1,943 COVID-19 cases, including 1,921 local infections, raising the total caseload to 279,930, according to the Korea Disease Control and Prevention Agency (KDCA).

Cheong Wa Dae: no comment on N. Korea's criticism of President Moon

SEOUL -- The office of President Moon Jae-in said Thursday it would not respond formally to North Korea's direct condemnation of Moon over what it describes as "improper" and "stupid" remarks.

Cheong Wa Dae is apparently seeking to prevent inter-Korean tensions from escalating especially in advance of Moon's speech at the U.N. General Assembly next week, which is widely expected to include Seoul's unswerving commitment to the peace process. Cheong Wa Dae has attached a special meaning to the 30th anniversary this year of the two Koreas becoming members of the U.N. simultaneously.

(2nd LD) S. Korea, U.S. share urgent need for N.K. dialogue following missile launches

SEOUL -- South Korea and the United States shared the urgent need for an early resumption of dialogue with North Korea during their working-level talks on Thursday, the foreign ministry said, after Pyongyang fired off two ballistic missiles the previous day.

Seoul's deputy nuclear envoy, Lee Tae-woo, and his U.S. counterpart, Jung Pak, held talks in Seoul, as tensions flared anew with the North's short-range missile launches following its weekend test-firings of a new type of long-range cruise missile.

(LEAD) Seoul stocks snap 4-day winning streak on tech losses

SEOUL -- South Korean stocks snapped a four-day winning streak Thursday, hit by losses in heavyweight technology stocks. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) slumped 23.31 points, or 0.74 percent, to close at 3,130.09 points.

(2nd LD) Shareholders approve SK Innovation's battery biz spin-off

SEOUL -- SK Innovation Co. said Thursday it has received shareholders' approval to split off its battery unit to focus on new growth drivers.

With the approval, the refinery-to-battery subsidiary under South Korea's No. 3 conglomerate, SK Group, will be split into two entities that are respectively in charge of its battery and petrochemical businesses. The new entities will be officially launched Oct. 1.

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