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Yonhap News Summary

Yonhap News Summary 13:30 January 10, 2023

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

(3rd LD) Opposition leader appears for questioning in bribery probe

SEONGNAM, South Korea -- Opposition leader Lee Jae-myung appeared at a prosecutors office for questioning over bribery allegations Tuesday, accusing the prosecution of fabricating charges against him.

Lee, chairman of the main opposition Democratic Party (DP), arrived at the Seongnam branch of the Suwon District Prosecutors Office located just south of Seoul at 10:20 a.m., surrounded by a large crowd of supporters, including DP lawmakers.

U.S. committed to working with S. Korea on concerns over EV tax credit: State Dept.

WASHINGTON -- The United States is prepared to work with South Korea and other countries to address their concerns over the U.S. Inflation Reduction Act (IRA), a state department spokesperson said Monday.

Ned Price also highlighted the need to keep offshore investment between South Korea and the U.S. robust.

S. Korea, U.S. hold high-level consultations on IRA, supply chain issues

SEOUL -- Senior diplomats of South Korea and the United States had discussions Tuesday on a range of bilateral issues, including a new U.S. law that offers tax incentives to electric vehicles assembled in North America.

Jose Fernandez, the U.S. under secretary of state for economic growth, energy and the environment, met Second Vice Foreign Minister Lee Do-hoon in Seoul to discuss economic security, such as strengthening supply chain resilience.

Ukrainian PM says partnership with S. Korea continues to develop

SEOUL -- Ukrainian Prime Minister Denys Shmyhal said his country and South Korea continue to develop their partnership as he spoke during an interview with Yonhap News Agency last week.

"The partnership between Ukraine and South Korea continue to develop. During the interview in Kyiv, I spoke to @YonhapNews about the main directions & opportunities for cooperation with South Korea in Ukraine's recovery and post-war reconstruction projects," Shmyhal tweeted Monday (local time).

(2nd LD) S. Korea posts current account deficit in Nov. amid dwindling exports

SEOUL -- South Korea posted the first current account deficit in three months in November as exports sharply dwindled amid growing worries over a global economic recession, central bank data showed Tuesday.

The country's current account shortfall amounted to US$620 million in November, swinging back from a surplus of $880 million a month earlier, according to the preliminary data from the Bank of Korea (BOK).

Seoul stocks extend gains late Tues. morning amid rate woes

SEOUL -- Seoul shares extended gains late Tuesday morning amid concerns over the Federal Reserve's rate hike plans following its officials' recent comments.

The benchmark Korea Composite Stock Price Index had risen 9.57 points, or 0.41 percent, to 2,359.76 points as of 11:20 a.m.

Hankyoreh reporter fired for borrowing money from key figure in development scandal

SEOUL -- The Hankyoreh newspaper has decided to dismiss a senior reporter for borrowing money from a key culprit in a high-profile development scandal.

The newspaper said Tuesday it decided to fire the reporter during a personnel committee meeting the previous day for violating a duty of integrity and fairness required for journalists, as well as the company's ethics code and work rules to avoid conflicts of interests with news sources.

Police reinvestigate prostitution allegations against opposition leader's son

SUWON -- Police have reopened an investigation into sex trafficking allegations against the eldest son of opposition leader Lee Jae-myung at the request of the prosecution, following their earlier decision to clear him of the charges, police officials said Tuesday.

The reinvestigation into Lee's 31-year-old son, Dong-ho, has been under way at the Gyeonggi Nambu Provincial Police Agency in Suwon, 50 kilometers south of Seoul, though the same police agency acquitted him of the prostitution charges three months ago, the officials said.

MMCA to step up collaborations with overseas museums, galleries

SEOUL -- The National Museum of Modern Contemporary Art (MMCA) said Tuesday it will expand collaborations with major galleries and museums abroad to promote major Korean artworks in the global market.

The MMCA said it will join hands with the Solomon R. Guggenheim Museum to present over 100 artworks by Korea's major experimental artists and some 40 pieces and archival materials from its collection.


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