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Yonhap News Summary

National 13:30 October 04, 2022

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

(3rd LD) N. Korea fires IRBM over Japan: S. Korean military

SEOUL -- North Korea fired an intermediate-range ballistic missile (IRBM) over Japan on Tuesday in its first launch of an IRBM in eight months, according to South Korea's military.

The Joint Chiefs of Staff (JCS) said it detected the launch from Mupyong-ri in the northern province of Jagang at 7:23 a.m. and that the missile flew some 4,500 kilometers at an apogee of around 970 km at a top speed of Mach 17.

(2nd LD) NSC condemns N. Korea's IRBM launch, vows to seek stronger sanctions

SEOUL -- The office of President Yoon Suk-yeol strongly condemned North Korea's firing of an intermediate-range ballistic missile Tuesday, vowing to hold Pyongyang accountable with stronger sanctions and other consequences.

The launch, which marked the fifth missile test in just over a week, represented one of the gravest provocations the North has undertaken in years as the missile flew about 4,500 kilometers over Japan before crashing into the Pacific Ocean.

S. Korea vows 'preemptive, appropriate' steps against financial market instability

SEOUL -- Finance Minister Choo Kyung-ho said Tuesday the government will implement appropriate responses preemptively by reviewing all options available in accordance with possible scenarios of financial and foreign exchange market instabilities.

Choo made the remarks during a parliamentary audit into his ministry, voicing concerns that the current unstable market situation is feared to continue for quite a long time.

N. Korea unresponsive to regular contact via inter-Korean liaison line: ministry

SEOUL -- North Korea was not responding to daily contact via an inter-Korean liaison line Tuesday, South Korea's unification ministry said hours after Pyongyang fired an intermediate range ballistic missile into the Pacific.

"The North had not answered an opening call through an inter-Korean liaison communication line as of 9 a.m., while the military hotline was in normal operation," a ministry official said, adding the government is trying to find out the reason amid the possibility of a technical problem.

Activity at N. Korea's Punggye-ri suggest possible additional tests: U.S. monitor

WASHINGTON -- Recent satellite imagery show continued activity at North Korea's main nuclear test facility in Punggye-ri that may suggest preparations for future tests, a U.S. monitor said Monday.

The image, taken Sept. 29, shows possible work to clear the area in front of a dismantled underground tunnel, which could allow additional nuclear tests in the future, according to Beyond Parallel, a project of the Washington-based Center for Strategic and International Studies think tank.

Gov't planning math fellowship inspired by Fields Medal winner Huh

SEOUL -- The government is planning to set up a math fellowship program inspired by Korean American mathematician June Huh, officials said Tuesday.

The program is aimed at nurturing young mathematicians under 40 through an annual stipend of around 120 million won (US$84,000) for up to 10 years, according to officials at the presidential office.

N. Korea supports Russia's proclaimed annexation of Ukrainian territory

SEOUL -- North Korea expressed support Tuesday for Russia's latest annexation of Ukrainian territory, while accusing the United States of "abusing" the U.N. Security Council (UNSC).

Russia on Friday vetoed the UNSC resolution denouncing Moscow's proclaimed annexation of four regions in Ukraine, including the People's Republic of Donetsk, following referendums in the territory late last month.

Naver to acquire online U.S. fashion marketplace for 2.3 tln won

SEOUL -- South Korean internet portal giant Naver Corp. said Tuesday it will take over Posh Inc., a U.S. social commerce marketplace for fashion, for 2.3 trillion won (US$1.6 billion) in a bid to broaden its business portfolio to North America.

According to its filing, the company will buy a 100 percent stake, or 1.3 million shares, in Poshmark worth a total of 2.3 trillion won.

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