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Yonhap News Summary

Yonhap News Summary 17:07 November 17, 2021

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

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(2nd LD) New COVID-19 cases spike to second-largest figure of 3,187
(ATTN: ADDS gov't plan on booster shots, new risk assessment index in paras 12-15, 22-26)

SEOUL -- South Korea's daily new coronavirus cases spiked to surpass the 3,000 mark Wednesday, just shy of an all-time high, health authorities said, deepening concerns over medical capacity amid the continued surge in critical cases.

The country reported 3,187 new COVID-19 cases, including 3,163 local infections, raising the total caseload to 402,775, according to the Korea Disease Control and Prevention Agency (KDCA).

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(2nd LD) S. Korea to cut dosage interval for COVID-19 booster shots for senior citizens
(ATTN: ADDS more details on vaccination plan, comments in paras 3-8, 16-17)

SEOUL -- South Korea decided to cut the dosage interval between primary vaccination and COVID-19 vaccine booster shots for senior citizens and others in high-risk facilities in a move to curb breakthrough infections and serious cases, health authorities said Wednesday.

Booster shots for people aged 60 or older can be administered four months after they received their last dose, while those in their 50s can get extra jabs five months after their primary COVID-19 vaccination, according to the Korea Disease Control and Prevention Agency (KDCA).

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(2nd LD) UAE to purchase S. Korean M-SAM missiles in US$3.5 bln deal
(ATTN: RECASTS 5th para to clarify the weapons' Korean name)

SEOUL -- The United Arab Emirates (UAE) has said it plans to purchase South Korean-made mid-range surface-to-air missiles in a deal likely to reach US$3.5 billion.

The UAE's Ministry of Defense tweeted Tuesday that it plans to acquire the missile, known as M-SAM. It did not elaborate further.

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(LEAD) Prosecutors raid home, office of ex-lawmaker embroiled in development scandal
(ATTN: UPDATES with separate police raid in last 2 paras)

SEOUL -- Prosecutors on Wednesday raided the home and the office of a former opposition lawmaker accused of taking millions of dollars from an asset firm at the center of a massive corruption scandal in the name of severance pay for his son.

The Seoul Central District Prosecutors Office sent a team of investigators earlier to search the home and office of Kwak Sang-do, formerly affiliated with the main opposition People Power Party.

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(LEAD) 6 in 10 S. Koreans pessimistic about chance to climb social ladder: survey
(ATTN: UPDATES with more details in paras 2-6, 16; RECASTS headline, lead; ADDS photo)

SEOUL -- Six in 10 South Koreans believe they cannot move up the social ladder even though they have a chance for better education and jobs, a survey showed Wednesday.

The biennial poll released by Statistics Korea showed that 60.6 percent of the surveyed think there is a low possibility that their social and economic status will improve.

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(LEAD) Seoul stocks dip over 1 pct amid inflation worries
(ATTN: ADDS bond yields at bottom, photo)

SEOUL -- South Korean stocks retreated more than 1 percent Wednesday, as strong U.S. economic data raised concerns about an earlier than expected rate hike by the U.S. Federal Reserve amid rising inflation. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 34.79 points, or 1.16 percent, to close at 2,962.42 points.

(END)

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