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Yonhap News Summary

Yonhap News Summary 17:01 November 17, 2022

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

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(LEAD) Interior ministry, Seoul city gov't raided over Itaewon crowd crush

SEOUL -- A special investigation team on Thursday raided 22 locations, including the interior ministry and the Seoul metropolitan government, in a wide-ranging probe into the bungled response to the deadly Itaewon crowd crush.

The team sent 65 investigators to 12 emergency response-related offices of the Ministry of the Interior and Safety, eight such offices inside Seoul City Hall and two offices of Seoul's self-governing police body to seize related evidence.

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Seoul shares down for 2nd day on big-cap tech losses

SEOUL -- South Korean stocks ended lower for a second day Thursday, as big-cap tech shares dived amid concerns over a global economic slowdown. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 34.55 points, or 1.39 percent, to close at 2,442.90, extending its losing streak for a second session.

Trading volume was a bit heavy at about 907.18 million shares worth some 8.47 trillion won (US$7.29 billion), with losers outnumbering gainers 643 to 216.

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U.S. condemns N. Korea's ballistic missile launch as threat to region

WASHINGTON -- The United States on Wednesday condemned North Korea's latest ballistic missile launch, calling it a threat to the region and the international community.

A spokesperson for the State Department also reaffirmed the U.S. commitment to the security of South Korea, hours after Pyongyang fired a short-range ballistic missile into the East Sea, resuming its latest series of missile provocations after an eight-day hiatus.

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S. Korea, U.S. seek ways to thwart N.K. cryptocurrency theft in Seoul symposium

SEOUL -- South Korea and the United States held a joint government-private forum Thursday on how to counter cryptocurrency theft and other illegal cyber activities of North Korea, a presumed main source of Pyongyang's financing for its missile and nuclear programs.

Co-hosted by the Ministry of Foreign Affairs and the State Department, the Symposium on Countering DPRK Cyber-Exploitation of Cryptocurrency Exchanges held here involved government officials and private-sector experts from the two countries, as well as representatives from cryptocurrency exchanges and blockchain companies from more than a dozen countries, including Malaysia and New Zealand. DPRK stands for the North's official name, the Democratic People's Republic of Korea.

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BTS' Jin to release photo book before joining military

SEOUL -- Jin, a member of the K-pop megastar BTS, will put out his individual book of photography next month before joining the military, the group's management agency said Thursday.

The photo book, titled "Sea of JIN Island," will come out Dec. 2 as part of the group's "Special 8 Photo-Folio" project launched in September to show off the group members' individual characters and new sides. Three other members -- Jungkook, RM and Jimin -- have published their individual photo books under the project.

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Banks log record interest income through Sept. on rising rates

SEOUL -- Banks in South Korea earned record net interest income in the first three quarters of the year, helped by sharp rate hikes by the central bank, data showed Thursday.

Their interest revenue in the January-September period stood at a combined 40.6 trillion won (US$30.3 billion), up 6.9 trillion won from a year ago, according to the data compiled by the Financial Supervisory Service (FSS).

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(LEAD) 4-term opposition lawmaker accused of receiving 60 mln won in illegal political funds

SEOUL -- Rep. Noh Woong-rae of the main opposition Democratic Party (DP) is under suspicion that he received a total of 60 million won (US$44,676) from a businessman before and right after the 2020 parliamentary election, a prosecution record showed Thursday.

The four-term lawmaker, who served on the party's supreme council, allegedly took the funds on five occasions through February to December 2020 via the businessman's wife, whom he previously befriended at a charity organization, according to the prosecution's search warrant on him.

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(LEAD) Heroes outfielder Lee Jung-hoo voted KBO MVP

SEOUL -- Kiwoom Heroes outfielder Lee Jung-hoo captured the MVP award in South Korean baseball Thursday, winning a near-unanimous vote on the strength of leading the league in five major offensive categories.

Lee joined his father, Lee Jong-beom, as the first father-son duo to win the MVP in the 40-year history of the Korea Baseball Organization (KBO) history. The senior Lee earned the top individual honor in 1994.
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