Yonhap News Summary

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

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Samsung heir Lee Jae-yong to serve as presidential envoy for World Expo bid

SEOUL -- Samsung Electronics Vice Chairman Lee Jae-yong will serve as a presidential envoy for South Korea's bid to host the 2030 World Expo in Busan, a presidential official said Thursday.

Lee has been cited as among the top business executives joining the government's campaign to bring the event to the southeastern city.

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(2nd LD) Exports up 6.6 pct in August; trade deficit hits all-time high
(ATTN: ADDS minister's comments, background info in last 3 paras, byline)

SEOUL -- South Korea suffered a record high monthly trade deficit in August on high global energy prices, though its exports rose 6.6 percent on-year, data showed Thursday.

Outbound shipments stood at US$56.67 billion last month, up from $53.2 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

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(2nd LD) S. Korea's economy grows 0.7 pct in Q2, unchanged from earlier estimate: BOK data
(ATTN: RECASTS lead; ADDS details in paras 11, 15-17)

SEOUL --South Korea's economy grew at a faster pace in the second quarter of this year as private spending rose amid eased coronavirus restrictions despite shrinking exports, central bank data showed Thursday.

The country's gross domestic product (GDP) -- a key measure of economic growth -- increased 0.7 percent in the April-June period from three months earlier, according to the preliminary data from the Bank of Korea (BOK). The growth slightly quickened from the previous quarter's 0.6 percent rise.

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S. Korea's new COVID-19 cases dip to 80,000s; deaths hit 4-month high

SEOUL -- South Korea's new COVID-19 cases fell to the 80,000 range Thursday amid a moderate declining trend, though a sharp rise in the death toll called for a continued close watch over serious cases.

The country reported 81,573 new COVID-19 infections, including 300 from overseas, bringing the total caseload to 23,327,897, the Korea Disease Control and Prevention Agency (KDCA) said.

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S. Korean, U.S. troops to end two-week combined exercise

SEOUL -- South Korea and the United States are set to wrap up a major combined military exercise Thursday, Seoul officials said, in a conclusion highlighting their pursuit of stronger deterrence against North Korea's nuclear and missile threats.

The allies have carried out the Ulchi Freedom Shield (UFS) exercise, which kicked off on Aug. 22, despite North Korean state media berating the annual drills as a rehearsal for war against the reclusive regime.

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