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Yonhap News Summary

Yonhap News Summary 13:30 November 22, 2022

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

Household credit up in Q3 on more credit purchases amid eased virus curbs

SEOUL -- South Korea's household credit grew in the third quarter of this year despite rising borrowing costs as people expanded spending on borrowed money amid eased virus curbs, central bank data showed Tuesday.

Outstanding household credit had reached 1,870.6 trillion won (US$1.37 trillion) as of end-September, up 2.2 trillion won from three months earlier, according to the preliminary data from the Bank of Korea (BOK).

S. Korea, U.S. to create Busan-Tacoma green cargo shipping route

SEOUL -- South Korea and the United States have agreed to establish a green cargo shipping route linking South Korea's Busan port with the U.S.' Tacoma port near Seattle in a move to better achieve the maritime carbon neutrality, Seoul's oceans ministry said Tuesday.

The agreement was signed by Seoul's climate ambassador, Na Kyung-won, and U.S. climate envoy John Kerry earlier this month on the sidelines of the 2022 United Nations Climate Change Conference, or COP27, held in Egypt from Nov. 6 through Friday, according to the Ministry of Oceans and Fisheries.

Yoon instructs Cabinet to follow up on recent summits for concrete results

SEOUL -- President Yoon Suk-yeol instructed his Cabinet on Tuesday to follow up on his recent summit meetings with foreign leaders to produce concrete results for the national interest.

Yoon made the remark at his first Cabinet meeting since returning last week from a trip to Cambodia and Indonesia, and after holding back-to-back meetings with leaders of Saudi Arabia, the Netherlands and Spain in Seoul.

(LEAD) U.S. calls for UNSC action, says Russia, China responsible for N. Korea's provocative actions

WASHINGTON -- The United States called on the United Nations Security Council (UNSC) to take action against North Korea's recent missile provocations Monday, arguing failure to do so due to opposition from China and Russia has allowed Pyongyang to continue its provocative actions.

China again refused to hold Pyongyang accountable for its provocations in the 10th UNSC meeting of the year held on North Korea.

(2nd LD) LG Chem to build 1st U.S. cathode plant in Tennessee

SEOUL -- LG Chem Ltd., South Korea's top chemical producer, said Tuesday it will build its first U.S. cathode plant in Tennessee as it accelerates its overseas push in North America to respond to the growing demand for electric vehicle (EV) components.

LG Chem will spend at least US$3 billion on the project to build the cathode manufacturing facility in Clarksville in the southeastern U.S. state, capable of producing 120,000 tons a year by 2027 of the critical component that determines the power of lithium-ion battery cells, the Seoul-based company said.

BTS' 'Dynamite' video surpasses 1.6 bln YouTube views

SEOUL -- The music video for global sensation BTS' "Dynamite" exceeded 1.6 billion views on YouTube on Tuesday, becoming the second most-viewed video from the band, its management agency said.

The video for the megahit single released in August 2020 reached the milestone at 4:26 a.m., Big Hit Music said.

S. Korea, India discuss supply chain cooperation, investment

SEOUL -- Senior trade officials of South Korea and India discussed ways Tuesday to boost cooperation on ensuring stable supply chains and expanding bilateral trade and investment, Seoul's trade ministry said.

South Korea's Deputy Trade Minister Jeong Dae-jin met with India's vice trade minister, Sumita Dawra, who came to Seoul for a four-day visit, according to the Ministry of Trade, Industry and Energy.

(LEAD) BTS wins at American Music Awards for 5th consecutive year

SEOUL -- Global K-pop sensation BTS has received a prize at this year's American Music Awards (AMAs) for the fifth year in a row, the event's organizers have said.

BTS won in the category of favorite pop duo or group, beating out other big name nominees, such as Coldplay, Imagine Dragons, Maneskin and OneRepublic, according to a list of winners unveiled on the homepage of the AMAs ahead of the awards ceremony Sunday (U.S. time).

Jeju Air resumes Incheon-Nagoya route, plans more flights to Japan

SEOUL -- Jeju Air Co., South Korea's biggest budget carrier, said Tuesday it has resumed the Incheon-Nagoya route in two and a half years, as eased virus restrictions have unleashed pent-up travel demand.

Jeju Air began to offer seven flights a week on the Nagoya route Tuesday. The route was suspended in March 2020 due to the COVID-19 pandemic, the company said in a statement.

(World Cup) All eyes on Sonny as S. Korea gear up for opening match vs. Uruguay

DOHA -- As South Korea prepare to kick off their 2022 FIFA World Cup against Uruguay on Thursday, all eyes will be on their captain, Son Heung-min, or, more specifically, his face.

The Tottenham Hotspur talisman has been training with a protective mask covering his injured face in Qatar. He suffered multiple fractures around his left eye in a collision during a match on Nov. 1 and underwent surgery three days later. The opening Group H match between South Korea and Uruguay will be played exactly 20 days after the procedure, a 4 p.m. kickoff Thursday at Education City Stadium in Al Rayyan, just west of Doha. It's 10 p.m. Thursday in South Korea.

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