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Yonhap News Summary

Yonhap News Summary 17:09 August 11, 2022

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

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(2nd LD) THAAD issue not subject to negotiation: presidential office

SEOUL -- The issue of the deployment of the U.S. THAAD anti-missile system in South Korea is not subject to negotiation, the presidential office said Thursday, after China claimed Seoul promised to limit its operation during the previous Moon Jae-in administration.

The Terminal High Altitude Area Defense (THAAD) system was a key topic of discussion during this week's meeting between the foreign ministers of South Korea and China in the Chinese port city of Qingdao.

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(News Focus) Renewed THAAD row heralds bumpy ride ahead for Yoon's China policy

SEOUL -- A rekindled South Korea-China spat over the emplacement of a U.S. anti-missile system here is presaging a rocky road ahead for the Yoon Suk-yeol administration's delicate diplomacy toward Beijing amid a rancorous Sino-U.S. rivalry, analysts said Thursday.

The tussle over the THAAD system resurfaced in the wake of Beijing's claim Wednesday that Seoul's former liberal Moon Jae-in administration pledged to restrict its operation in addition to a "three No's" policy, which the conservative Yoon government views as nonbinding in light of "security sovereignty."

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(2nd LD) S. Korea to supply record amount of foodstuff ahead of Chuseok holiday

SEOUL -- South Korea said Thursday it plans to increase the supply of key foodstuff by a record amount in a bid to help curb inflation ahead of the Chuseok fall harvest holiday slated for next month.

The government plans to supply a combined 230,000 tons of 20 items of farm, livestock and fisheries products for three weeks in the runup to the extended Chuseok holiday set for Sept. 9-12, the finance ministry said.

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Defense minister warns of 'high-intensity' response against potential N.K. nuke test

SEOUL -- South Korea's Defense Minister Lee Jong-sup warned Thursday that Seoul and Washington will unleash a "high-intensity" response in case of North Korea conducting a nuclear test to highlight its nuclear use would be "futile."

Lee's remarks came as the North has been hardening its rhetoric against the South and the United States ahead of the allies' combined military exercise, further raising speculation that it could undertake provocations, such as an underground nuclear test.

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Yoon gov't to expand scope of prosecutors' investigative authority

SEOUL -- The Ministry of Justice said Thursday it will push to expand the scope of prosecutors' investigative powers through the revision of the presidential decree.

The ministry's decision came just one month before the prosecution reform bills, officially called revisions of the Prosecutors' Office Act and the Criminal Procedure Act, come into force. The revisions call for reducing the prosecution's investigative powers to only two crime types -- corruption and economic crimes -- from the current six.

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Yoon to discuss N.K. nuclear issue with U.N. chief

SEOUL -- President Yoon Suk-yeol will discuss North Korea's nuclear program when he meets with U.N. Secretary-General Antonio Guterres in Seoul this week, his top security adviser said Thursday.

Yoon and Guterres are set to meet over lunch Friday during the U.N. chief's two-day visit to the country.

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(LEAD) Seoul shares rally as softened U.S. inflation eases steep rate hike woes

SEOUL -- South Korean stocks jumped 1.73 percent Thursday, taking a cue from an overnight Wall Street rally after softer-than-expected U.S. inflation data helped ease worries about a drastic rate hike by the Federal Reserve, analysts said. The local currency gained ground against the U.S. dollar.

The Korea Composite Stock Price Index (KOSPI) advanced 42.90 points to 2,523.78. Trading volume was moderate at 495.5 million shares worth 9.39 trillion won (US$7.26 billion), with advancing stocks far outstripping decliners 771 to 111.
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