Yonhap News Summary

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

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(2nd LD) S. Korea, U.S., Japan hold maritime drills involving USS Nimitz carrier

SEOUL -- South Korea, the United States and Japan kicked off a trilateral naval exercise, involving an American aircraft carrier, in waters south of the Korean Peninsula on Monday, Seoul's defense ministry said, amid joint efforts to reinforce deterrence against growing North Korean threats.

The two-day anti-submarine and search-and-rescue exercise, featuring the USS Nimitz carrier, got under way in the international waters south of the southern island of Jeju.

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Last-ditch efforts under way to contain wildfire in central Seoul

SEOUL -- Firefighting authorities on Monday are making last-ditch efforts to contain a wildfire on a mountain in central Seoul, as smoldering fires have not been completely extinguished for over 20 hours.

The fire started on Mount Inwang, a popular trekking spot in the central ward of Jongno, shortly before noon Sunday and spread rapidly due to strong wind, temporarily forcing about 120 households to evacuate, according to the Seoul city government. No injuries or deaths have been reported.

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Seoul shares trim earlier losses late Mon. morning

SEOUL -- Seoul shares trimmed earlier losses late Monday morning amid expectations that the Federal Reserve may slow down its monetary tightening after key inflation data showed signs of easing.

The benchmark Korea Composite Stock Price Index (KOSPI) opened 0.16 percent lower, bucking gains on Wall Street, but narrowed losses to fall 1.01 points, or 0.04 percent, to 2,475.85 as of 11:20 a.m.

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Vice unification minister to meet Japanese nuclear envoy to discuss N. Korea

SEOUL -- Vice Unification Minister Kim Ki-woong will meet Japan's top nuclear envoy this week to discuss ways to boost bilateral ties amid North Korea's continued provocations, the unification ministry said Monday.

The talks between Kim and Takehiro Funakoshi, director-general for Asian and Oceanian Affairs at Tokyo's foreign ministry, will be held Thursday as a follow-up measure to the unification minister's visit to Japan last month.

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Yoon instructs gov't to fully support Expo inspection team

SEOUL -- President Yoon Suk Yeol instructed the government Monday to fully support a visiting inspection team of the international body in charge of overseeing the World Expo, his spokesperson said.

Yoon's instruction came during a weekly meeting with his senior secretaries as the inspection team of the Bureau International des Expositions was in the country to evaluate South Korea's bid to host the 2030 World Expo in the southeastern port city of Busan.

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Hanwha gets nod from EU for Daewoo Shipbuilding takeover

SEOUL -- Hanwha Group has received approval from the European Union for its plan to acquire Daewoo Shipbuilding & Marine Engineering Co. (DSME), company officials said Monday.

The EU's decision came earlier than expected, as it was widely expected to deliver the result of its review in mid-April.

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Online shopping up 7.5 pct on surging demand for travel

SEOUL -- Online shopping in South Korea rose 7.5 percent on-year in February on the back of the surge in demand for travel services on growing outdoor activities following eased COVID-19 restrictions, data showed Monday.

The value of online shopping transactions amounted to 16.94 trillion won (US$12.85 billion) last month, compared with 15.75 trillion won tallied a year earlier, according to the data from Statistics Korea.
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