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Yonhap News Summary

Yonhap News Summary 17:04 November 11, 2022

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

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(2nd LD) Yoon arrives in Cambodia for ASEAN summits
(ATTN: UPDATES with Yoon's arrival; CHANGES dateline, headline, photo)

PHNOM PENH -- President Yoon Suk-yeol arrived in Cambodia on Friday on the first leg of a two-nation tour that will include his attendance at various summits involving the Association of Southeast Asian Nations (ASEAN) and the Group of 20 (G-20).

In Phnom Penh, Yoon is scheduled to attend a South Korea-ASEAN summit, an ASEAN Plus Three summit and the East Asia Summit during a three-day stay, with other bilateral and multilateral meetings expected to take place on the sidelines.

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(3rd LD) Yongsan Police Station officer found dead amid investigation into Itaewon tragedy
(ATTN: UPDATES with more details)

SEOUL -- A Yongsan Police Station officer was found dead Friday while under an investigation in connection with the deadly crowd crush in Seoul's Itaewon neighborhood.

The 55-year-old intelligence officer, surnamed Jeong, was found dead at 12:45 p.m. at his home in northern Seoul by a family member.

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(LEAD) S. Korean currency rises by largest margin in 13 years on eased inflation woes
(ATTN: UPDATES throughout; RECASTS headline; ADDS photo)

SEOUL -- The South Korean currency ended sharply higher Friday on hopes that the U.S. Federal Reserve could slow the pace of aggressive monetary tightening over eased inflation woes, market watchers said.

The local currency closed at 1,318.40 won against the U.S. dollar, up 59.1 won from the previous session's close.

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(LEAD) Seoul shares spike by most in 19 months on hope for less aggressive Fed rate hike
(ATTN: ADDS bond yields at bottom, photo)

SEOUL -- South Korean stocks posted the largest daily gain in 19 months as weaker-than-expected inflation in the United States raised hopes for less aggressive monetary tightening by the Federal Reserve.

The Korean won also surged against the U.S. dollar.

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(LEAD) SsangYong Motor graduates from court-led debt rescheduling program
(ATTN: UPDATES with details in paras 4, 9-11)

SEOUL -- SsangYong Motor Co. said Friday it has graduated from the court-led debt rescheduling program 1 1/2 years after it was placed under court receivership amid the COVID-19 pandemic.

SsangYong Motor applied for court receivership on April 15, 2021, after its Indian parent Mahindra & Mahindra Ltd. failed to attract an investor due to its worsening financial status amid the pandemic.
(END)

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