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Yonhap News Summary

Yonhap News Summary 17:07 September 16, 2022

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

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Yoon, Biden could discuss currency swap at summit: official

SEOUL -- President Yoon Suk-yeol and U.S. President Joe Biden could discuss the possibility of a currency swap deal between the two countries when they meet in New York next week, a presidential official said Friday.

Choi Sang-mok, senior presidential secretary for economic affairs, told reporters he would not get ahead of the meeting slated to take place on the sidelines of the U.N. General Assembly, but that both sides have taken an interest in the issue of reopening a currency swap line.

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(LEAD) Speaker Kim, China's top legislator agree on beefing up strategic communication for peace on Korean Peninsula

SEOUL -- National Assembly Speaker Kim Jin-pyo and China's top legislator, Li Zhanshu, agreed Friday on the need to beef up strategic communications to resolve North Korea's nuclear issue and maintain peace on the Korean Peninsula.

"We exchanged our opinions on the geopolitical situation of the Korean Peninsula and agreed it is important to sustain strategic communications between South Korea and China for the stable management of the situation on the Korean Peninsula and to resolve North Korea's nuclear issue," Kim said during a joint press briefing following their meeting.

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Lawmakers call for beefing up protection of stalking victims

SEOUL -- Lawmakers from the ruling and opposition parties put forth a bill aimed at better protecting stalking victims Friday, two days after the gruesome murder of a subway worker by a colleague inside a Seoul subway station restroom.

The 20-something victim was killed inside a ladies' restroom at Sindang Station on Line 2 on Wednesday after being stalked by the suspect for years.

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Heavy rains forecast for southeast coast as Typhoon Nanmadol nears

SEOUL -- Heavy rains may soak South Korea's southeast coast early next week under the influence of Typhoon Nanmadol, which is currently moving northwest from waters near Japan's Okinawa, the weather agency said Friday.

With a central atmospheric pressure of 955 hectopascals and a maximum wind speed of 40 meters per second, this year's 14th typhoon was passing over waters 860 kilometers east-southeast of Okinawa at 9 a.m., according to the Korea Meteorological Administration.

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(2nd LD) Main opposition DP slams budget plan to build new state guest house

SEOUL -- The main opposition Democratic Party (DP) slammed the government Friday for requesting a massive budget to build a state guest house at the new presidential compound, claiming the administration is splurging taxpayers' money on the unnecessary presidential office relocation.

The DP said the budget request of more than 87.8 billion won (US$62 million) for the construction of a new state guest house is much more than the 49.6 billion won that the government had originally said would be necessary to move the presidential office out of Cheong Wa Dae.

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S. Korea repatriates 88 sets of remains of Chinese troops killed in Korean War

SEOUL -- South Korea on Friday handed over to China 88 sets of the remains of Chinese troops killed during the 1950-53 Korean War in the ninth such repatriation, Seoul's defense ministry said.

South Korea's Vice Foreign Minister Lee Do-hoon, Chinese Vice Minister of Veterans Affairs Chang Zhenggu and other key officials attended the event at Incheon International Airport, west of Seoul.

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Some 13,000 financial workers hold rally in central Seoul amid 1-day general strike

SEOUL -- Some 13,000 unionized financial workers held a large-scale rally in central Seoul on Friday, calling for a wage hike and a 4.5-day workweek as the nationwide financial industry union went on a one-day general strike.

The Korean Financial Industry Union (KFIU) affiliated with the Federation of Korean Trade Unions, one of the country's two umbrella unions, launched a single-day general walkout on the day, its first strike in six years.

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Samsung's Lee visits Britain for biz meetings, World Expo bid promotion

SEOUL -- Samsung Electronics Vice Chairman Lee Jae-yong has arrived in Britain as part of an ongoing overseas tour for business meetings and to promote South Korea's bid to host the 2030 World Expo, according to industry sources Friday.

Lee, who has been on an overseas business trip for about a week, recently arrived in Britain on a chartered flight, sources said.

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(LEAD) Seoul shares fall for 3rd day on Fed rate-hike jitters

SEOUL -- South Korean stocks retreated 0.79 percent Friday, extending a losing streak to a third straight day, as the latest U.S. economic data supported the view that the Federal Reserve will deliver another steep interest rate hike in next week's policy meeting.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 19.05 points to 2,382.78. Trading volume was moderate at 432.5 million shares worth 8.4 trillion won (US$6.04 billion) with decliners outnumbering gainers 687 to 193.


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