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Yonhap News Summary

Yonhap News Summary 17:00 January 11, 2022

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

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(7th LD) N. Korea's improved ballistic missile traveled at Mach 10: JCS

SEOUL -- North Korea's ballistic missile launched Tuesday flew at a top speed of Mach 10, South Korea's military said, taking note of "improvement" compared with what it claimed to be a hypersonic missile test six days ago.

The Joint Chiefs of Staff (JCS) said the North fired the missile from its northern province of Jagang into the East Sea, and that it flew more than 700 kilometers at a maximum altitude of 60 km and at a top speed of Mach 10, 10 times the speed of sound.

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Asiana flight grounded in Kazakhstan to return to S. Korea this week: ministry

SEOUL -- A South Korean passenger jet that has been grounded in Kazakhstan amid an anti-government protest is expected to return home later this week once the Central Asian nation's largest airport resumes operations, the foreign ministry said Tuesday.

The flight of Asiana Airlines Inc., a South Korean flag carrier, with dozens of South Koreans aboard has been grounded at Almaty International Airport since it landed there Wednesday, when protesters took control of the nation's main gateway.

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(2nd LD) Air Force pilot dies after F-5E fighter crashes in central S. Korea

SEOUL -- An Air Force pilot died after an F-5E fighter jet crashed in central South Korea on Tuesday, the military said.

The aircraft crashed into a mountain in Hwaseong, some 40 kilometers south of Seoul, at 1:46 p.m. minutes after taking off from an Air Force base in the nearby city of Suwon, they said.

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Moon hopes new cathode plant will boost EV battery sector

SEOUL -- President Moon Jae-in attended the groundbreaking ceremony for an LG Chem cathode plant in the southeastern city of Gumi on Tuesday, saying he hopes the 475 billion won (US$397 million) project will boost South Korea's competitiveness in the electric vehicle (EV) battery sector.

Moon traveled to the city 260 kilometers southeast of Seoul to meet with officials involved in the construction of the plant for the key battery component. The project was launched under a jobs program led by LG Chem and the provincial and municipal governments.

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(LEAD) 3 family members of Osstem embezzlement suspect booked on collusion suspicions

SEOUL/PAJU -- Police have booked three family members of a dental implant maker employee arrested for allegedly embezzling 221 billion won (US$185 million) in company funds on suspicions of possible collusion.

Police were looking into whether the father, the wife and the sister-in-law of the 45-year-old Osstem employee, identified only by his surname Lee, played a part in the suspected embezzlement, believed to be South Korea's single largest embezzlement case.

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Yoon pledges 12 mln-won allowance for couples after childbirth

SEOUL -- Main opposition presidential candidate Yoon Suk-yeol pledged Tuesday to offer parents a 1 million-won (US$837) monthly allowance for one year after the birth of their child to help tackle the country's low birth rate.

Yoon of the People Power Party made the promise during a New Year's press conference, saying the program should "free people from the economic burden of having children" at relatively little cost to the government, as only 260,000 babies are born a year.

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(LEAD) Chinese boat captured for alleged false report of fish catch

SEOUL -- A Chinese fishing boat has been seized for allegedly underreporting its fish catch in violation of Seoul's fishing regulations, the oceans ministry said Tuesday.

The ministry's fisheries management service seized the 106-ton vessel in waters off the southwestern county of Shinan at around 6 p.m. on Monday, as its crew members were suspected of having underreported the fish catch on a daily log to catch more from South Korea's exclusive economic zone (EEZ) in the Yellow Sea, according to the Ministry of Oceans and Fisheries.

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(LEAD) Seoul stocks close nearly flat ahead of Fed chief's hearing

SEOUL -- South Korean stocks finished nearly unchanged Tuesday as investors await comments by the U.S. Federal Reserve chief at the Senate hearing. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.66 points, or 0.02 percent, to close at 2,927.38 points.

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(LEAD) Assembly passes bill on union representation in public institutions' boards

SEOUL -- The National Assembly on Tuesday passed a bill that mandates a union representative be included on public institutions' boards of directors.

The lawmakers approved a bill during a plenary session that dictates public firms and quasi-public institutions must appoint one nonexecutive director recommended or picked by the head of a labor union on their boards.
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