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Yonhap News Summary

All News 17:26 October 27, 2021

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

(4th LD) S. Korea to hold state funeral for late ex-President Roh

SEOUL -- South Korea decided Wednesday to hold a five-day state funeral for late former President Roh Tae-woo, the country's last general-turned-leader credited for foreign policy achievements but also blamed for his involvement in a military coup and the brutal crackdown on a pro-democracy uprising.

President Moon Jae-in expressed condolences over Roh's death but noted the deceased made "not a few historical faults." Moon will not visit Roh's funeral altar in person due to his busy schedule and decided to send his chief of staff instead, officials said.

(LEAD) Late ex-President Roh asks democracy uprising victims for forgiveness in last will

SEOUL -- Former President Roh Tae-woo used his last will to ask for forgiveness from victims of the military's brutal crackdown on a pro-democracy uprising in the southwestern city of Gwangju in 1980, his son said Wednesday.

Roh Jae-heon unveiled the will of his father, who died Tuesday of chronic illness at age 88, to reporters at a funeral altar for the late president in Seoul.

(LEAD) Politicians, biz leaders, citizens mourn death of ex-President Roh

SEOUL -- Politicians, business leaders and citizens on Wednesday mourned the death of former President Roh Tae-woo, whose mixed presidential legacy drew both public praise and criticism.

The family of Roh began receiving mourners at the funeral home at Seoul National University Hospital in central Seoul on Wednesday morning, one day after the former president died at age 88.

(2nd LD) New virus cases soar to nearly 2,000 ahead of start of phased return to normalcy

SEOUL -- South Korea's new coronavirus cases soared to nearly 2,000 on Wednesday, as fresh concerns emerge over people letting their guard down ahead of the start of a gradual easing of virus curbs aimed at returning to normalcy.

The country added 1,952 more COVID-19 cases, including 1,930 local infections, raising the total caseload to 356,305, according to the Korea Disease Control and Prevention Agency (KDCA).

S. Korea, U.S. to continue 'serious and in-depth' talks on end-of-war declaration: official

SEOUL -- South Korea and the United States will continue "serious and in-depth" bilateral discussions on the proposed declaration of a formal end to the 1950-53 Korean War, Seoul's foreign ministry said Wednesday, after a top U.S. official indicated that the allies may have some differences on the issue.

National Security Advisor Jake Sullivan told reporters in Washington D.C. Tuesday (local time) that the two sides are aligned on engaging with North Korea, but could have "different perspectives" on the approach.

(News Focus) Global success of 'Squid Game' sparks controversy over IP rights

SEOUL -- Since the survival drama "Squid Game" gained larger-than-expected popularity throughout the world on Netflix, the world's big-name platform operators like Disney+ and Apple TV+ have been competing to spend huge money to secure Korean-made content.

But critics have raised questions whether it's right for local productions to allow such platform operators to monopolize content rights of their shows at a time when the Korean entertainment market has emerged as a content hub for its globally popular cultural content like K-pop, TV series and films.

(2nd LD) LG Display posts strong Q3 earnings on robust panel demand, OLED biz

SEOUL -- LG Display Co., South Korea's major display panel maker, said Wednesday that its third-quarter net income surged 4,067.5 percent from a year earlier to 463.5 billion won (US$396.1 million), largely driven by strong demand and profitability of its OLED business.

Operating income jumped 221.8 percent to 528.9 billion won in the three months ending in September, 17.3 percent lower than previously expected. It was down 25 percent from the second quarter due to a "drop in LCD panel prices, and a rise in material costs and increased costs from new facility operations," the company said in a statement.

(2nd LD) Kia Q3 net jumps on base effect, chip woes remain

SEOUL -- Kia Corp., South Korea's second-biggest carmaker, said Wednesday its third-quarter net profit rose sharply due to a lack of one-off costs, but chip shortages remain a major concern for the carmaker.

Net profit for the three months ended in September jumped more than eightfold to 1.135 trillion won (US$970 million) from a net profit of 133.68 billion won in the year-ago period.

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