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Yonhap News Summary

Yonhap News Summary 17:01 November 15, 2021

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

S. Korea to import more urea solution to ease supply shortage

SEOUL -- South Korea said Monday local firms have inked deals to import urea solution from other countries, including Malaysia and Mexico, a move expected to help ease a supply shortage of the key fluid needed in diesel cars to cut emissions.

Three Korean firms have signed contracts to import a combined 1.28 million liters of urea solution from Malaysia, Mexico and Australia, according to the government. South Korea needs 600,000 liters of the solution for diesel cars per day.

(LEAD) S. Korea to offer US$100 mln in loans for Bangladesh's economic recovery

SEOUL -- South Korea said Monday it plans to provide US$100 million in financing for a joint project with multilateral lenders to help Bangladesh recover from the fallout of the pandemic.

South Korea's Economic Development Cooperation Fund (EDCF) will offer its low-interest rate loans for the $700 million joint project to support Bangladesh's economy, the finance ministry said.

(LEAD) S. Korea cuts Indonesia's payment for joint fighter development: arms agency

SEOUL -- South Korea has lowered Indonesia's planned payment for its share of the cost for a joint fighter development project, as the warplane has been designated as "defense goods" eligible for a tax exemption, the state arms procurement agency said Monday.

Accordingly, the Defense Acquisition Program Administration (DAPA) said Indonesia is to pay 1.6 trillion won (US$1.35 billion) in total, down 100 billion won, for the 8.1 trillion-won project, called KF-21.

Yoon leads Lee by some 13 percentage points in presidential race: survey

SEOUL -- Yoon Seok-youl, the presidential nominee of the main opposition People Power Party (PPP), is leading his opponent Lee Jae-myung of the ruling Democratic Party (DP) by some 13 percentage points in a hypothetical multicandidate race, a survey showed Monday.

Yoon garnered 45.6 percent support against Lee's 32.4 percent in the survey conducted on 1,009 adults nationwide on Friday and Saturday, according to the Korea Society Opinion Institute (KSOI).

Customs office to conduct special crackdown on marijuana smuggling during Black Friday season

INCHEON -- The customs office at Incheon International Airport will launch a special crackdown on drug smuggling ahead of Black Friday and other seasonal sales in the United States, officials said Monday.

The seven-week crackdown will last for seven weeks through the end of the year, officials said.

Seoul increases nighttime taxi services amid 'living with COVID-19'-driven growth in demand

SEOUL -- The Seoul city government will temporarily lift operating day restrictions on privately-owned taxis in an effort to increase nighttime taxi services, as eased anti-virus restrictions are jacking up demand for nocturnal transportation, officials said Monday.

The city will temporarily remove the restrictions under which privately-owned cabs were required to take every third day off, allowing them to run services in the nighttime period from 9 p.m. to 4 a.m. on the otherwise off day, the city government said.

(LEAD) Seoul stocks close just shy of 3,000 on foreign and institutional buying

SEOUL -- The South Korean stock market closed just shy of the 3,000-point mark Monday after a bullish session, led by strong foreign and institutional buying. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 30.72 points, or 1.03 percent, to close at 2,999.52 points.


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