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Yonhap News Summary

Defense 17:00 April 12, 2022

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

(2nd LD) Yoon says sorry to ex-President Park, invites her to inauguration ceremony

SEOUL -- President-elect Yoon Suk-yeol met with former President Park Geun-hye on Tuesday, telling her he was sorry over their erstwhile relationship surrounding a corruption probe of Park and inviting her to his inauguration ceremony.

"We talked about the president's health," Yoon told reporters after paying a visit to Park at her residence in her hometown of Daegu. "And we do have a history. I told her about my regret and that I felt sorry for her in my heart."

(LEAD) Market watchers divided over BOK's rate-setting meeting this week: poll

SEOUL -- Market watchers are sharply divided over whether the Bank of Korea (BOK) will raise its key policy rate this week amid persistent worries over inflation that has been under growing upward pressure from surging oil and commodity prices, a poll showed Tuesday.

The BOK is set to hold a rate-setting meeting Thursday. In February, the central bank froze its policy interest rate at 1.25 percent after hiking it by a combined 0.75 percentage point since August last year.

Parties discuss need for swift review of bill on alternative military duty for BTS

SEOUL -- The ruling and opposition parties have discussed a need for swift review of a bill allowing K-pop superstar BTS and other prominent pop celebrities to substitute their mandatory military service for other public service, a lawmaker said Tuesday.

Rep. Sung Il-jong of the People Power Party, who serves as executive secretary for the parliamentary defense committee, told MBC radio that he and his Democratic Party counterpart recently discussed the need to swiftly review the bill pending in the National Assembly.

(Yonhap Interview) UN aviation agency chief voices concern over N. Korea's unannounced missile launches

SEOUL -- The head of the United Nation's civil aviation agency urged North Korea on Tuesday to make prior notifications on its missile launches, saying Pyongyang's unannounced missile tests would pose a risk to international civil aviation.

Tensions have recently escalated on the Korean Peninsula as North Korea fired its first intercontinental ballistic missile last month since November 2017.

(LEAD) Forest fire extinguished in Gangwon border town after 3 days

SEOUL -- Firefighting authorities extinguished the main fires in the northeastern border town of Yanggu on Tuesday after they hit the area for three days.

According to the Korea Forest Service (KFS), the main wildfires were extinguished as of 9 a.m. after burning 720 hectares, the equivalent of 1,008 soccer fields, in Yanggu, 175 kilometers northeast of Seoul and about 20 km south of the border with North Korea.

SK chairman banned from selling part of his stock holdings pending divorce suit

SEOUL -- The Seoul Family Court has granted an injunction banning SK Group Chairman Chey Tae-won from selling some of his stock holdings until a divorce suit with his estranged wife is settled, officials said Tuesday.

In the Feb. 23 decision, the court banned Chey from disposing of 3.5 million shares in SK Inc. until the divorce suit is over. His wife, Roh So-young, had asked the court to ban Chey from 6.5 million shares in the company.

Samsung's financial affiliates to launch integrated platform, brand

SEOUL -- Financial affiliates of Samsung Group, South Korea's top conglomerate, on Tuesday said they will launch a new integrated brand and unified platform to secure a larger pool of customers from the MZ generation.

Named Monimo, the single platform, which will house five financial affiliates, including Samsung Life Insurance Co. and Samsung Securities Co., will provide various services.


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