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Yonhap News Summary

All News 13:30 May 16, 2022

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

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(LEAD) Yoon offers unsparing COVID-19 aid to N. Korea

SEOUL -- President Yoon Suk-yeol said Monday he will spare no effort to help North Korea cope with a massive outbreak of the coronavirus, offering to send vaccines and other necessary supplies if Pyongyang agrees to accept.

Yoon made the offer for a second time as the North struggles to curb rapidly spreading infections after acknowledging an outbreak last week for the first time since the pandemic began. Leader Kim Jong-un has described the worsening situation as "a great upheaval" rarely seen since the country's founding.

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(LEAD) N. K. leader issues special order on medicine supply against epidemic: state media

SEOUL -- North Korean leader Kim Jong-un rebuked officials for failing to deliver medicine to its people in time amid the COVID-19 outbreak and ordered the mobilization of military personnel to stabilize the supply of medicine in the capital, state media said Monday.

The political bureau of the ruling Workers' Party of Korea convened an emergency consultative meeting again to discuss measures for epidemic control Sunday, according to the official Korean Central News Agency (KCNA).

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(2nd LD) BOK chief says he doesn't rule out 50-basis-point rate hike

SEOUL -- South Korea's central bank chief said Monday he does not rule out the possibility of a 50-basis-point rate hike, as uncertainty about already-elevated inflation remains high amid surging energy prices and the won's weakness.

In April, the Bank of Korea (BOK) raised the policy rate by a quarter-percentage point to 1.5 percent, the fourth rate hike since August last year, in a bid to tame inflation and curb household debt.

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S. Korea signs deal to purchase some 40 U.S.-made helicopters to train military pilots

SEOUL -- South Korea has signed a contract worth 170 billion won (US$132.8 million) with a U.S. aerospace firm, Bell Textron Asia, to purchase some 40 trainer helicopters by 2025, the state arms procurement agency said Monday.

The Defense Acquisition Program Administration (DAPA) inked the deal with the firm on May 6 to procure the Bell 505 helicopters and eight simulators to train Army and Navy pilots, its officials said. The simulators are to be manufactured by a Korean firm.

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Auto exports up 12.4 pct in April on popularity of eco-friendly cars

SEOUL -- South Korea's car exports grew 12.4 percent in April from the previous year on the back of global popularity of eco-friendly cars, data showed Monday.

Outbound shipments of automobiles stood at 196,780 units last month, compared with 175,015 units a year earlier, according to the data from the Ministry of Trade, Industry and Energy.

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(LEAD) S. Korean Lee Kyoung-hoon defends PGA Tour title in Texas

SEOUL -- South Korean Lee Kyoung-hoon has successfully defended a PGA Tour title in Texas, holding off former world No. 1 Jordan Spieth for his second career victory.

Lee shot a bogey-free round of nine-under 63 in the final round of the AT&T Byron Nelson at TPC Craig Ranch in McKinney, Texas, on Sunday (local time). Lee's day featured seven birdies and an eagle.

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(LEAD) BTS wins three Billboard Music Awards, marking 6th year to win an award

SEOUL -- South Korean boy group BTS has won three prizes at the 2022 Billboard Music Awards (BBMAs), one of the three biggest pop music honors in the United States, Billboard said.

The septet won top duo or group, top song sales artist and top selling song (for its 2021 smash hit "Butter"), marking its sixth consecutive year to win at least one award at the BBMAs, the U.S. music magazine said Sunday (U.S. time), ahead of the awards show that begins at 9 p.m. at the MGM Grand Garden Arena in Las Vegas.

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Seoul shares down late Mon. morning on rake hike woes

SEOUL -- Seoul shares pared earlier gains late Monday morning amid investors' jitters over possibly aggressive rake hikes in major economies.

The Korea Composite Stock Price Index had fallen 5.39 points, or 0.21 percent, to 2,598.85 as of 11:20 a.m.

(END)

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