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Yonhap News Summary

Yonhap News Summary 17:11 September 19, 2022

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

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(LEAD) 1 person injured, hundreds evacuated as Typhoon Nanmadol brushes past S. Korea

SEOUL -- Strong winds fanned by Typhoon Nanmadol have toppled trees, caused power outages and turned schools to remote learning in southeastern South Korea, leaving one person injured and hundreds of others evacuated, officials said Monday.

This year's 14th typhoon had been moving north-northeast from waters 300 kilometers north-northeast of Japan's Kagoshima at a speed of 20 kilometers per hour as of 10 a.m., according to the Central Disaster and Safety Countermeasures Headquarters. The typhoon is expected to move out to waters 310 km west of Japan's Osaka at 3 p.m.

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OECD raises inflation outlook for S. Korea to 5.2 pct, growth forecast to 2.8 pct

SEOUL -- The Organization for Economic Cooperation and Development (OECD) on Monday raised its 2022 inflation outlook for South Korea to 5.2 percent amid high energy prices over the protracted war in Ukraine.

The organization also raised its growth forecast for the South Korean economy this year to 2.8 percent on the back of solid exports and "skillful management" of the COVID-19 pandemic.

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(LEAD) Seoul shares hit over 2-month low on prospect of another aggressive rate hike by U.S. Fed

SEOUL -- South Korean stocks dipped by more than 1 percent on Monday to extend their losing streak to a fourth day as market sentiment was dampened by the prospect of another sharp rate hike this week by the U.S. Fed.

The Korean won fell sharply against the U.S. dollar.

After opening higher, the benchmark Korea Composite Stock Price index (KOSPI) shed 27.12 points, or 1.14 percent, to 2,355.66, marking the lowest since July 12 when the corresponding reading was 2,330.98.

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Police disclose identity of subway murder suspect as 31-yr-old Jeon Joo-hwan

SEOUL -- Police on Monday disclosed the identity of the suspect in the shocking subway murder case as 31-year-old Jeon Joo-hwan and released a photo of him to the public.

The Seoul Metro employee was apprehended Wednesday evening at Sindang Station on Line No. 2 after allegedly stabbing his female colleague in her 20s to death in the subway station's ladies' room.

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USS Ronald Reagan due in S. Korea for first allied drills off its coast in 5 yrs

SEOUL -- A U.S. nuclear-powered aircraft carrier is scheduled to visit South Korea later this week for its first combined drills with the South Korean Navy near the peninsula in five years, in a show of the allies' "firm resolve" against North Korean threats, Seoul officials said Monday.

The USS Ronald Reagan carrier strike group is set to arrive at a naval base in Busan, 390 kilometers south of Seoul, on Friday, as the allies are sharpening security coordination amid concerns about the possibility of the North conducting a nuclear test or other provocations.

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(LEAD) Royals skipper Matheny to manage MLB team in S. Korea exhibitions

BUSAN -- Kansas City Royals skipper Mike Matheny will manage a team of Major League Baseball (MLB) stars, likely including future Hall of Famers, for their four exhibition games in South Korea in November.

Jim Small, MLB's senior vice president of international operations, made the announcement on Monday in the southeastern city of Busan, which will host the first two games of the MLB World Tour.

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PPP interim chief caught discussing ex-leader's expulsion in text messages

SEOUL -- A text conversation between senior members of the ruling People Power Party (PPP) discussing the possibility of expelling former Chairman Lee Jun-seok was caught on press cameras Monday, raising speculation the party may hand down the heaviest disciplinary action in an upcoming meeting.

The text messages, caught on press cameras during a general meeting of lawmakers, shows emergency committee chief Chung Jin-suk and Rep. Yoo Sang-bum, a member of the party's ethics committee, discussing disciplinary action against Lee.

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JCS chief warns N.K. regime cannot survive in case of nuclear use attempt

SEOUL -- South Korea's top military officer warned Monday that any attempt by North Korea to use nuclear arms would leave it with "no scenario for regime survival," in a response to Pyongyang's recent codification of an assertive nuclear policy.

Joint Chiefs of Staff (JCS) Chairman Gen. Kim Seung-kyum issued the warning as Pyongyang unveiled its nuclear policy earlier this month, which leaves open the possibility of a preemptive strike in the event of a regime security threat.
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