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Yonhap News Summary

Yonhap News Summary 16:55 March 29, 2023

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

PM says to ask Yoon to veto grain bill

SEOUL -- Prime Minister Han Duck-soo said Wednesday that he will make a suggestion to President Yoon Suk Yeol on vetoing a contentious bill requiring government purchase of surplus rice.

Han made the remarks after a policy consultation meeting with the ruling party on the revision to the Grain Management Act passed by the opposition-controlled National Assembly last week.

(2nd LD) S. Korea's new COVID-19 cases at around 13,000; gov't eyes shorter isolation period

SEOUL -- South Korea's new COVID-19 cases stayed in the 13,000 range Wednesday, a similar level from a week ago, as the government unveiled plans to shorten the mandatory COVID-19 isolation period in efforts to restore pre-pandemic normalcy.

The country reported 13,134 new COVID-19 infections, including 15 cases from overseas, bringing the total caseload to 30,798,723, the Korea Disease Control and Prevention Agency (KDCA) said.

SK hynix not sure yet whether to apply for Chips Act funding: CEO

SEOUL -- SK hynix Inc. is not sure yet whether to apply for U.S. government grants under the Chips Act, the chipmaker's top executive said Wednesday, calling the process too complicated.

While the application is under serious consideration, "we found the process too demanding," Park Jung-ho, vice chair and co-CEO of SK hynix, said at an annual shareholders meeting in Icheon, 52 kilometers southeast of Seoul, where the chipmaker's headquarters is located.

(LEAD) Seoul shares up for 2nd day amid eased global banking woes

SEOUL -- Seoul shares finished higher for the second straight session Wednesday as investors' anxiety about the global banking system has eased. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 8.98 points, or 0.37 percent, to close at 2,443.92.

(LEAD) S. Korea, U.S. stage 'decisive action' phase of major amphibious landing exercise

SEOUL -- South Korea and the United States conducted major amphibious assault drills mobilizing their high-spirited forces, landing ships, stealth fighters and choppers under the rallying cry of "decisive action' in a southern city on Wednesday.

The South's Marine Corps revealed to the media part of the drills that proceeded in and around Pohang, 272 kilometers southeast of Seoul. They marked a highlight of the allies' large-scale Ssangyong (double dragon) landing exercise, which runs through next Monday.

(LEAD) Broadcasting watchdog chief attends court hearing on arrest warrant

SEOUL -- A court held an arrest warrant hearing Wednesday for the chief of the state broadcasting regulator over suspected score manipulation during the renewal of a broadcasting license for a cable TV channel in 2020.

Korea Communications Commission (KCC) Chairman Han Sang-hyuk, an official appointed by former liberal President Moon Jae-in, arrived at the Seoul Northern District Court at 1:22 p.m. to attend the hearing.

(LEAD) KBO club GM fired after allegedly asking player for money during contract talks

SEOUL -- The South Korean baseball club Kia Tigers fired their general manager Jang Jung-suk on Wednesday, after allegations surfaced that he'd asked a free agent for a kickback during contract talks.

Former Tigers catcher Park Dong-won has accused Jang of demanding cash in exchange for a favorable deal during their negotiations in the last offseason. Park ended up signing a four-year deal with another Korea Baseball Organization (KBO) club, the LG Twins.


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