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Yonhap News Summary

Yonhap News Summary 17:14 August 16, 2022

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

Samsung SDI sets up R&D centers in U.S., Germany

SEOUL (Yonhap) -- South Korean battery maker Samsung SDI Co. said Tuesday it has established research and development (R&D) centers in the United States and Germany in a bid to bolster its technological competitiveness through regional collaboration.

It formally launched its first U.S. research institute in Boston on Monday (U.S. time), following the opening of an R&D facility in the Germany city of Munich on July 1, the company said in a release.

DP warns Yoon's Liberation Day speech will give 'wrong signal' to Japan

SEOUL (Yonhap) -- The main opposition Democratic Party (DP) rapped President Yoon Suk-yeol on Tuesday for pledging to swiftly improve relations with Japan in his Liberation Day speech a day earlier, saying the address failed to touch on thorny issues, like wartime sexual slavery and forced labor.

In Monday's address marking the end of Japan's 1910-45 colonial rule of Korea, Yoon called Tokyo a "partner" in tackling common threats and pledged to swiftly improve relations with the neighboring nation, but he did not mention historical rows.

Seoul stocks up for 3rd day on expectations of slower monetary tightening

SEOUL (Yonhap) -- South Korean shares advanced for a third straight session Tuesday amid investors' speculation that central banks in major economies may tone down their monetary tightening after weak economic data from China. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 5.58 points, or 0.22 percent, to close at 2,533.52 points.

SK Group, Bill Gates discuss strengthening cooperation in global public health

SEOUL (Yonhap) -- Top executives of South Korea's SK Group met with Microsoft co-founder and billionaire philanthropist Bill Gates on Tuesday and discussed ways to strengthen cooperation in global public health, group officials said.

Gates, co-chair of the Bill & Melinda Gates Foundation, met with SK Group Chairman Chey Tae-won, SK Discovery Co. Vice Chairman Chey Chang-won and Ahn Jae-yong, CEO of SK Bioscience Co., in Seoul on the second day of Gates' three-day trip to South Korea, SK Bioscience said.

Yoon, Bill Gates discuss vaccine development, cooperation

SEOUL, Aug. 16 (Yonhap) -- President Yoon Suk-yeol met with Microsoft co-founder Bill Gates on Tuesday and discussed cooperation on vaccine development and other health issues.

During the meeting at the presidential office, Yoon praised Gates for his contributions to modern industrial technology and infrastructure and for his efforts to increase access to vaccines and treatments in developing countries.

SsangYong Motor net losses narrow in H1 on exports

SEOUL (Yonhap) -- SsangYong Motor Co., the South Korean unit of Mahindra & Mahindra Ltd., said Tuesday its net losses narrowed in the first half from a year earlier, helped by increased exports.

Net losses for the six months ending in June narrowed to 30.3 billion won (US$23 million) from 180.5 billion won a year ago, the company said in a statement.

Former U.N. chief Ban to meet Ukrainian president in Kyiv

SEOUL (Yonhap) -- Former U.N. Secretary-General Ban Ki-moon will meet with Ukrainian President Volodymyr Zelenskyy in the capital city of Kyiv on Tuesday, his foundation said.

Ban is on a daylong trip to Ukraine, along with former Colombian President Juan Manuel Santos, as a member of The Elders, a group of independent global leaders, according to the Ban Ki-moon Foundation for a Better Future.

S. Korea calls on N. Korea to respond to economic aid offer

SEOUL (Yonhap) -- The South Korean government hopes North Korea will respond to President Yoon Suk-yeol's offer of an "audacious initiative" to help rebuild its economy in return for denuclearization steps, a unification ministry official said Tuesday.

In his Liberation Day speech the previous day, Yoon unveiled details of the plan to improve the North's economy, such as a large-scale food program, power generation assistance, and modernization of its ports and airports.


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