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Yonhap News Summary

All News 17:00 June 13, 2022

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

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(4th LD) Truckers strike for 7th day, further disrupting output, shipping

SEOUL -- Thousands of South Korean truckers went on strike for a seventh day on Monday with no end in sight, disrupting production and shipping in key manufacturing industries.

In the latest industrial impact of the truckers' strike, South Korea's leading steelmaker POSCO on Monday halted operations at some of its plants in the country due to lack of space to store finished products.

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Yoon calls for diverse solutions to truckers' strike

SEOUL -- President Yoon Suk-yeol instructed officials Monday to come up with diverse solutions as a nationwide walkout of truckers entered its seventh day.

Thousands of unionized cargo truckers have been on strike since Tuesday, demanding an extension of a freight rate system that guarantees basic wages for truck drivers struggling to cope with soaring fuel prices.

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(2nd LD) S. Korea vows market stabilizing steps amid won's high volatility

SEOUL -- South Korea said Monday it plans to take measures to stabilize the foreign exchange market, if needed, as the Korean currency showed high volatility amid heightened global inflation risks.

The remarks are widely seen as the latest verbal intervention to curb the won's weakness that has accelerated in recent months due to the prospect of the Federal Reserve's aggressive rate hikes.

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Rate hike fears send Seoul stocks to 19-month low; Korean won sharply dips

SEOUL -- South Korean stocks crashed to a 19-month low Monday as high inflation sparked fears of a potential aggressive monetary tightening in the U.S. and a slowdown in global economic growth. The local currency fell sharply against the U.S. dollar.

The Korea Composite Stock Price Index (KOSPI) lost 91.36 points, or 3.52 percent, to close at 2,504.51, extending losses for the fifth consecutive session. It is the lowest figure since November 13, 2020, when the KOSPI closed at 2,493,97 points.

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Final preparations under way for 2nd launch of S. Korean space rocket

SEOUL -- South Korea's state-run Korea Aerospace Research Institute (KARI) was carrying out final preparations Monday ahead of this week's second attempt to send multiple satellites into orbit.

Nuri, also known as KSLV-II, is scheduled to be transported to the launch pad and erected vertically on Tuesday at the Naro Space Center in the country's southern coastal village of Goheung one day ahead of the launch.

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Ruling party considering enacting law on blockchain platforms to regulate cryptocurrencies

SEOUL -- The ruling People Power Party (PPP) is considering enacting a law on blockchain-based platforms to better regulate cryptocurrencies and protect investors, the party's chief policymaker said Monday.

"We are thinking of making a law on blockchain-based platforms," Rep. Sung Il-jong of the PPP said during a party-government consultative meeting on virtual assets. "Some parts are mentioned in the special financial transaction law, but overall it's not organized."

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(LEAD) First lady calls for end to dog meat consumption

SEOUL -- First lady Kim Keon-hee has called for an end to dog meat consumption, saying South Korea and China are the only countries among big economies where people eat dog meat, according to a newspaper interview published Monday.

Kim, who lives with four dogs and three cats, made the appeal in an interview with the Seoul Shinmun newspaper, saying she wishes the government could achieve tangible progress in animal issues, including animal abuse and dog meat consumption.

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