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Yonhap News Summary

Yonhap News Summary 17:09 April 04, 2022

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

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(2nd LD) S. Korea urges N. Korea to stop escalating tensions

SEOUL -- The South Korean government called Monday on North Korea to refrain from escalating tensions in the region, responding to the latest statement, directed at Seoul, by Kim Yo-jong, the influential sister of North Korea's leader.

"The Ministry of Unification clearly points out that North Korea should not cause additional tension on the Korean Peninsula in any case," the ministry's spokesperson Lee Jong-joo told a regular press briefing.

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Moon bestows medal to ex-Supreme Court justice

SEOUL -- President Moon Jae-in on Monday awarded a state medal to former Supreme Court Justice Park Sang-ok for playing a significant role in ensuring the rights of vulnerable people and narrowing the gender gap, his office said.

Park retired last year after wrapping up his six-year tenure.

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PM nominee denies involvement in Lone Star case

SEOUL -- Prime Minister nominee Han Duck-soo on Monday rejected allegations that he is unfit for the country's No. 2 job due to his stint at a law firm that represented U.S. private equity firm Lone Star, which has been accused of acquiring a local bank at a bargain and selling it for a huge profit.

A local civic group, Spec Watch Korea, has claimed that Han should not be appointed prime minister because he was paid a total of 150 million won (US$123,200) between November 2002 and July 2003 as an adviser for the law firm Kim & Chang that represented the U.S. firm at the time.

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S. Korea to conduct full-fledged solid-fuel space rocket launch in 2025

SEOUL -- South Korea is seeking to conduct a full-fledged solid-fuel space rocket launch in 2025, a government researcher said Monday, following its major performance test last week.

The country is aiming to launch the rocket to place a 500-kilogram experimental satellite into a low Earth orbit at an altitude of 500 kilometers by the target year, according to the official affiliated with the defense ministry.

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(3rd LD) BTS fails to win Grammy for second consecutive year

SEOUL -- K-pop juggernaut BTS has failed to take home an honor at the Grammy Awards, one of the biggest U.S. music awards, for the second consecutive year.

BTS was nominated for best pop duo or group performance with its megahit "Butter" for the 64th Grammy Awards but left the ceremony empty-handed on Sunday (U.S. time).

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S. Korean companies slowly roll back remote working amid eased pandemic rules

SEOUL -- South Korean office workers are gradually returning to the office after more than two years of on-again, off-again remote working, as businesses are rolling back pandemic restrictions in tandem with those of the government.

Steel giant POSCO on Monday ended its remote working policy in its Seoul office, believing that the omicron surge has begun its descent and that the country is finally closer to the end of the COVID-19 pandemic.

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(LEAD) Seoul shares up on oil price fall, economic recovery hope

SEOUL -- South Korean stocks rose to about a two-month high on Monday as falling oil prices and signs of a global economic recovery shored up investor sentiment despite concerns over the U.S.' potential rate hikes and the Ukraine crisis. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 18.05 points, or 0.66 percent, to close at 2,757.90 points. It is the highest since Feb. 10, when the index finished at 2,771.93.
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