Yonhap News Summary

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

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(2nd LD) Samsung Q4 operating profit likely down 69 pct on chip price falls
(ATTN: RECASTS throughout with details; CHANGES headline)

SEOUL, Jan. 6 (Yonhap) -- Samsung Electronics Co. said Friday its fourth-quarter operating profit likely plunged 69 percent from a year earlier due to sliding memory chip prices as an economic slowdown pummeled demand for IT gadgets and servers.

The world's largest memory chip and smartphone maker estimated its October-December operating profit at 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year ago.

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U.S. will work closely with S. Korea to monitor threat posed by N. Korea: Pentagon

WASHINGTON -- The United States continues to work closely with South Korea to monitor threats posed by North Korea, a Pentagon spokesperson said Thursday, after a group of North Korean drones infiltrated South Korea before returning home.

Defense Department spokesperson Brig. Ge. Pat Ryder also highlighted that the U.S. maintains "intelligence capabilities" in the region.

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S. Korea's COVID-19 cases fall below 60,000 amid tighter quarantine steps for incoming travelers

SEOUL -- South Korea's new COVID-19 cases fell for the third consecutive day to come below 60,000 on Friday amid the government's efforts to prevent the virus inflow from China and other regions.

The country confirmed 56,954 new coronavirus infections, including 258 from overseas, bringing the total to 29,420,226, the Korea Disease Control and Prevention Agency (KDCA) said.

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Gov't vows 'stern punishment' for Chinese COVID-19 quarantine escapee

SEOUL -- The government pledged "stern punishment" Friday for a Chinese man arrested for going into hiding without entering mandatory quarantine after testing positive for COVID-19 upon arrival in South Korea.

The 41-year-old Chinese was told to stay in quarantine for a week at a hotel in South Korea on Tuesday right after testing positive for the virus upon arriving at Incheon International Airport.

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(CES) LG CEO says CES exhibition is to show potential

LAS VEGAS -- LG Electronics Inc. made efforts to present its potential through a wide range of products and solutions at CES 2023, its top executive said Thursday.

"Now that the pandemic is over, we thought it is time to display our real products and solutions so that we can show our potential," CEO Cho Joo-wan told Yonhap News Agency outside LG Electronics' booth at the Las Vegas Convention Center.

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(CES) SK On doing its best for a turnaround in battery biz despite uncertainties: co-chief

LAS VEGAS -- SK On Co. is continuing to make best efforts for a turnaround in its battery business despite volatile market conditions, its co-chief said Thursday.

Chey Jae-won, senior vice chairman of SK Group and a co-chief of its battery-making arm, made the remarks at CES 2023 taking place in Las Vegas, commenting on the outlook for the loss-making unit amid an aggressive overseas push.

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Naver completes acquisition of Poshmark for US$1.2 bln

SEOUL -- South Korean internet portal giant Naver Corp. said Friday it has completed the acquisition of Poshmark, a U.S. social commerce marketplace for fashion.

Naver took over 100 percent of the U.S. firm for US$1.2 billion, and Poshmark became one of Naver's affiliates, the company said in a release.
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