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Yonhap News Summary

Yonhap News Summary 17:00 October 05, 2021

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

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Kakao founder apologizes for controversy over aggressive biz expansion

SEOUL -- Kim Beom-su, the founder of South Korean internet giant Kakao Corp., apologized Tuesday over the controversy surrounding the company's rapid expansion in recent years, which some criticize has driven small businesses into a corner.

Kakao has faced growing scrutiny from lawmakers and regulators in recent months over the far-reaching influence of its online platform that has been accused of taking business away from mom-and-pop stores.

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DSME workers call for withdrawal of Daewoo Shipbuilding sale

SEOUL -- Unionized workers at Daewoo Shipbuilding & Marine Engineering Co. (DSME) on Tuesday called for the withdrawal of the shipbuilder's sale to its local rival Hyundai Heavy Industries Holdings Co. (HHIH).

In a press conference held at Geoje City Hall, about 400 kilometers south of Seoul, the workers said the government should withdraw the sale of DSME as the deal fell apart for the fourth time.

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9 out of 10 S. Korean adults received at least one vaccine shot

SEOUL -- Nine out of 10 South Korean adults have received at least one shot of COVID-19 vaccine, helping the country to get closer to a goal of creating herd immunity, the health authority said Tuesday.

A total of 39.7 million people have received their first dose of COVID-19 vaccine, accounting for 77.4 percent of the country's 51.3 million population or 90 percent of those aged over 18, according to the Korea Disease Control and Prevention Agency (KDCA).

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Possible link between asset firm and Seongnam city under scrutiny in land development scandal

SEOUL -- Prosecutors are expanding an investigation into a regional development corruption scandal to look into a possible link between a now-arrested key suspect and people above him, including Gyeonggi Province Gov. Lee Jae-myung.

The Seoul Central District Prosecutors Office is investigating whether Yoo Dong-gyu, former acting president of Seongnam Development Corp. (SDC), was given acquiescence or even tacit approval by Lee for how the city's Daejang-dong project, which turned a swath of farmland into apartment complexes, should be operated.

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Clashes between rival parties intensify over 'Daejang-dong' development corruption scandal

SEOUL -- Clashes between rival political parties intensified Tuesday in connection with a sprawling regional development corruption scandal, causing disruptions of a series of parliamentary audit sessions of the government amid opposition calls for an independent counsel investigation.

At the start of at least three audit sessions, lawmakers of the main opposition People Power Party (PPP) hung banners on their desks calling for a special prosecutor probe and other slogans attacking the ruling Democratic Party and its presidential hopeful Gyeonggi Province Gov. Lee Jae-myung.

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(LEAD) Lawmaker accused of using 'comfort women' group's money 217 times

SEOUL -- A lawmaker, who formerly headed a major civic group supporting women forced into wartime sexual slavery by Japan, has been accused of embezzling the organization's funds 217 times, mostly for personal purposes, such as paying at "galbi" or rib restaurants, an opposition lawmaker said Tuesday.

Rep. Youn Mee-hyang, who led the Korean Council for Justice and Remembrance for the Issues of Military Sexual Slavery by Japan until her election in 2020, spent over 100 million won (US$84,300) of the organization's funds for personal use from January 2011 until March 2020, Rep. Jun Joo-hyae of the main opposition People Power Party said, citing a copy of the indictment she received from the justice ministry.

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S. Korean stock market nosedives to almost 7-month low

SEOUL -- South Korean stocks plunged to an almost seven-month low Tuesday, as investor sentiment was weakened by the debt ceiling tussle in the United States and debt crises involving Chinese property developers. The Korean won closed unchanged against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 57.01 points, or 1.89 percent, to close at 2,962.17 points, the lowest finish since March 10.
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