Yonhap News Summary

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

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(LEAD) S. Korea to require negative COVID-19 test for travelers from China: PM

SEOUL -- South Korea will require travelers coming from China to show negative COVID-19 tests, Prime Minister Han Duck-soo said Friday, joining other nations in imposing restrictions due to a surge of infections there.

By the end of February next year, all arrivals from China will be required to show either a negative PCR or antigen test for the coronavirus before boarding flights to South Korea, Han said.

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Police begin investigation into fatal expressway tunnel fire

SEOUL -- Police on Friday launched a full-scale investigation into the previous day's deadly expressway tunnel fire in Gwacheon, just south of Seoul, which killed five people and injured 37 others.

The Gyeonggi Nambu Provincial Police Agency said it began an on-spot inspection of the accident scene, about 15 km south of Seoul, in the morning, together with the National Forensic Service and fire authorities.

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S. Korean-made EVs entitled to tax credit under IRA when used for commercial use: Treasury

WASHINGTON -- Buyers of new South Korean-made electric vehicles (EVs) can be entitled to a U.S. government tax credit when the new car is used for commercial use such as leasing, the Department of Treasury said Thursday.

The new guidance on government tax benefits offers some relief to growing concerns over the new U.S. Inflation Reduction Act (IRA) that has become a rare source of tension between the United States and its close allies, including South Korea, Japan and the European Union.

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(LEAD) N. Korea working on draft resolution for year-end party plenary meeting

SEOUL -- North Korea has discussed policy goals for 2023 to draw up a draft resolution expected to be adopted at the close of an ongoing plenary meeting of the ruling Workers' Party of Korea (WPK), according to state media Friday.

During the fourth-day session of the WPK central committee's enlarged plenary meeting Thursday, participants held sectoral discussions to map out measures to implement "important tasks" set forth by the North's leader Kim Jong-un, according to the Korean Central News Agency (KCNA).

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S. Korea to sharply hike Q1 electricity rates on high costs, losses

SEOUL -- South Korea will raise first-quarter electricity rates by the largest ever margin on high global energy costs and mounting losses of the state utility company, the industry ministry said Friday.

The government decided to jack up the electricity rates for consumer and industrial use by 13.1 won (US$0.01) per kilowatt hour (kWh) for the January-March period next year, compared with a 2.5 won hike per kWh in the fourth quarter of this year, according to the Ministry of Trade, Industry and Energy.

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(3rd LD) Consumer price growth hits 24-year high in 2022

SEOUL -- South Korea's consumer prices grew at the fastest pace in more than two decades in 2022, government data showed Friday, as the country felt the pinch of soaring prices of raw materials and energy sources following the Russia-Ukraine war.

Consumer prices rose 5.1 percent on-year in 2022, accelerating from a 2.5 percent gain in 2021, according to the data compiled by Statistics Korea.

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Court denies arrest warrants for YouTubers for alleged attempt to enter justice minister's home

SEOUL -- A Seoul court on Friday rejected arrest warrants sought for two YouTubers on charges of attempting to trespass at the home of Justice Minister Han Dong-hoon.

The Seoul Central District Court denied the prosecution's request for the detainment of Kang Jin-koo and Choi Young-min, citing the need to guarantee the right to defense of the suspects and the prosecution's insufficient explanation.

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Yoon calls for additional tax break for semiconductor industry

SEOUL -- President Yoon Suk Yeol instructed the government Friday to consider additional tax breaks for the semiconductor and other strategic industries, his office said.

Under a recently passed tax code revision, large corporations are eligible for an 8 percent tax exemption on investments in semiconductor and other strategic industry facilities.
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