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Yonhap News Summary

Economy 13:30 November 15, 2022

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

Rice output down 3 pct in 2022 on bad weather conditions

SEOUL -- South Korea's rice output fell 3 percent this year from a year earlier due to a sharp drop in precipitation and lack of sunny days, data showed Tuesday.

The country's rice production came to 3.76 million tons this year, falling from 3.88 million tons tallied in 2021, according to the data compiled by Statistics Korea.

It marked the sixth straight year that the country's yearly rice production stayed below 4 million tons.

No. of multiple home owners down 2 pct in 2021

SEOUL -- The number of multiple home owners in South Korea fell 2 percent on-year in 2021, data showed Tuesday, apparently on tax burdens.

The number of multiple home owners reached 2.27 million in 2021, falling from 2.32 million tallied in the previous year, according to Statistics Korea.

They took up 15.1 percent of the total homeowners, down 0.7 percentage point from a year earlier.

(LEAD) Ruling party condemns disclosure of names of Itaewon tragedy victims

SEOUL -- The leaders of the ruling People Power Party lashed out at an online media outlet Tuesday for disclosing the names of victims in the Itaewon crowd crush without the consent of bereaved families, claiming the move is aimed at capitalizing on the tragedy for political gain.

"It's a sinful act," Rep. Joo Ho-young, the floor leader of the PPP, told a party meeting. "Pushing ahead with the disclosure, even though it has repeatedly been pointed out that it would be a violation of the law, shows how evil and meticulous their purpose was."

S. Korea, U.S. mark completion of allied command relocation to Pyeongtaek

SEOUL -- South Korea and the United States held a ceremony Tuesday to commemorate the completion of a yearslong project to relocate their Combined Forces Command (CFC) headquarters from Seoul to a key U.S. military base south of the capital.

The relocation of the CFC -- the allies' bedrock warfighting command -- ended 44 years of its presence in Yongsan at the heart of Seoul and opened a new chapter of its operation at Camp Humphreys in Pyeongtaek, 65 kilometers south of Seoul.

(LEAD) Yoon, China's Xi to hold first summit in Bali

BALI, Indonesia -- President Yoon Suk-yeol will hold his first summit with Chinese President Xi Jinping in Bali on Tuesday, his office said, with North Korea certain to dominate the talks amid concern it could conduct another nuclear test.

The two leaders will meet at 5 p.m. (local time) on the sidelines of a Group of 20 summit that both are attending. The presidential office gave no other details.

PM voices deep regret over list naming victims of Itaewon tragedy

SEOUL -- Prime Minister Han Duck-soo on Tuesday expressed deep regret over the disclosure by an online media outlet of a list of victims in the Itaewon crowd crush without the consent of bereaved families.

"I deeply regret that (the list) was made public without the most basic procedure, without completely seeking the consent of the bereaved families," Han said at a response meeting.

Priests draw fire for wishing for Yoon's plane to crash

SEOUL -- A priest of the Anglican Church of Korea has been disqualified for openly wishing for President Yoon Suk-yeol's plane to crash during his ongoing trip to Southeast Asia.

The Daejeon Diocese of the Anglican Church of Korea announced the disqualification of Father Kim Gyu-dong as a priest Monday after he called for a nationwide prayer for the crash of the presidential plane in his social media post.

K-pop legend Cho Yong-pil to return with new single

SEOUL -- Cho Yong-pil, a living legend of the Korean pop scene, will be back this week with his first release in nine years, his management agency said Tuesday.

The 72-year-old singer will drop a new single, titled "Road to 20-Prelude 1," on Friday at 6 p.m., YPC Company said.

Britain raises concern over Korean Air-Asiana combination

SEOUL -- Korean Air Co. said Tuesday that Britain's antitrust regulator has expressed concerns over its planned integration with smaller local rival Asiana Airlines Inc., citing monopoly worries on routes between the two countries.

In a statement released Monday, Britain's Competition and Markets Authority (CMA) said the buyout of Asiana by Korean Air could lead to higher prices for passengers flying between London and Seoul, as well as impacting air cargo services.

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