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Yonhap News Summary

Yonhap News Summary 17:01 April 28, 2022

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

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(LEAD) S. Korea urges N. Korea to stop escalating tensions over Kim's pledge to bolster nuclear power

SEOUL -- The South Korean government called Thursday on North Korea to refrain from escalating tensions in the region, responding to a threat by its leader Kim Jong-un to strengthen the regime's nuclear capabilities.

"Our government and the international community have maintained the stance that North Korea should stop all acts that heighten tensions, including the advancement of its nuclear capabilities, and to return to the negotiating table," a unification ministry official said.

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Cryptocurrency exchange head indicted for leaking military secrets to presumed N.K. spy

SEOUL -- The head of a cryptocurrency exchange has been indicted for allegedly colluding with a military officer and leaking military secrets, including login information for the military's command and control system, to a presumed North Korean agent in exchange for money, officials said Thursday.

The head of the exchange, surnamed Lee, was charged with allegedly violating the National Security Act after he was found to have made contact with the purported spy in July of last year and later helped him gather military secrets.

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(3rd LD) Samsung Electronics Q1 profit jumps 50.5 pct, driven by server chips, mobile sales

SEOUL -- Samsung Electronics Co. on Thursday reported its best first-quarter earnings in four years on the back of solid chip and mobile demand.

The world's largest memory chip and mobile phone maker said its operating profit rose more than 50 percent to 14.1 trillion won (US$11.1 billion) year-over-year in a regulatory filing.

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(3rd LD) S. Korea to stabilize FX market amid won's sharp fall: finance minister

SEOUL -- Finance Minister Hong Nam-ki said Thursday the government plans to take measures to stabilize the foreign exchange market, if needed, as the South Korean currency has sharply fallen against the U.S. dollar.

Hong's comments came as the won's weakness to the greenback has accelerated in recent sessions amid the prospect of the Federal Reserve's aggressive rate hikes and heightened external economic uncertainty.

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(LEAD) FSC unveils guideline on 'fractional investment' to enhance investor protection

SEOUL -- South Korea's financial regulator on Thursday unveiled a guideline on the operation of "fractional investment," vowing to step up monitoring of the fast-growing industry.

The Financial Services Commission (FSC) also said it will determine whether fractional investment has the nature of "securities" by "comprehensively" taking into consideration terms of contracts and details on investment methods of each case.

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(LEAD) Home appliances, one-off gains drive LG Electronics' record Q1 profit, sales

SEOUL -- LG Electronics Inc. on Thursday said its first-quarter operating profit rose 6.4 percent from a year ago, fueled by sales of premium home appliances and one-off gains from patents licensing.

Its operating income came in at a quarterly record of 1.88 trillion won (US$1.56 billion), marking a 6.4 percent year-on-year rise.

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Gov't likely to lift outdoor mask mandate next week

SEOUL -- The government is likely to lift the outdoor mask mandate next week, officials here said Thursday.

Prime Minister Kim Boo-kyum is expected to announce the decision during a COVID-19 response meeting Friday as the country continues to see a downward trend in COVID-19 cases.

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