Yonhap News Summary

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

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(LEAD) 2nd prototype of KF-21 fighter jet succeeds in maiden flight: arms agency

SEOUL -- The second prototype of South Korea's homegrown fighter jet, the KF-21 Boramae, made its successful maiden test flight Thursday, the country's arms agency said.

It took off from the Air Force's 3rd Flying Training Wing in Sacheon, about 300 kilometers south of Seoul, at 9:49 a.m. and landed without a hitch at 10:24 a.m., according to the Defense Acquisition Program Administration (DAPA).

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Hybe to boost collaborations between record labels to fill BTS hiatus

SEOUL -- Hybe Co., the Korean entertainment agency behind supergroup BTS, said Thursday it will support collaborations between different record labels under its wing to introduce diverse content in what is seen as efforts to fill the hole left by the flagship band's hiatus.

Hybe unveiled the diversification strategy in an online press conference as the company needs to reduce its excessive reliance on BTS, whose seven members are expected to fulfill their mandatory military service in the coming years, starting with its oldest member Jin.

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(LEAD) E-Mart Q3 net income declines 86.7 pct on one-off costs

SEOUL -- E-Mart Inc. on Thursday said its third quarter net income declined 86.7 percent from a year earlier on one-off depreciation costs and recall expenses.

Net income came to 124.3 billion won (US$90.6 million) on a consolidated basis for the three months ending in September, compared with 937 billion won during the same period of last year, the company said in a regulatory filing.

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Chip export curbs not aimed at hurting businesses: U.S. official

SEOUL -- The United States' implementation of export controls on semiconductor equipment is not intended at interfering with business activities, a senior U.S. official said Thursday, stressing it will closely engage with the South Korean government and related industries over the matter.

Thea Kendler, U.S. assistant secretary of commerce for export administration, made the remarks, as Washington's new set of export restrictions have sparked concerns they will deal a serious blow to South Korean chipmaking companies, primarily Samsung Electronics Co. and SK hynix Inc.

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Yongsan Ward office failed to answer calls about mobile alerts over Itaewon crowd crush for over 1 hour

SEOUL -- The central government and the Seoul city government made urgent calls to the Yongsan Ward office, asking it to send out mobile alerts to the public shortly after the deadly crowd crush in Itaewon, but they were unanswered for 78 minutes, officials said Thursday.

The revelation by the Seoul city government came as the Yongsan district office, along with the police and the fire stations in the district, have been under fire for overlooking prior warning signs and did little to prevent and respond to the deadly accident that killed at least 156 people.

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(LEAD) Seoul shares snap 4-day winning streak amid U.S. midterm election results, cryptocurrency crash

SEOUL -- South Korean stocks traded lower Thursday on an overnight dip on Wall Street amid the U.S. midterm election results and a crash in cryptocurrencies. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) retreated 22.18 points, or 0.91 percent, to close at 2,402.23 points.

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Nat'l Assembly adopts resolution against N.K. provocations

SEOUL -- The National Assembly on Thursday adopted a resolution condemning North Korea's recent series of military provocations and calling on Pyongyang to stop preparations for its seventh nuclear test.

The resolution passed the assembly's plenary session with an endorsement of 190 out of 194 seated lawmakers. The remaining four were abstention votes.

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