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Yonhap News Summary

Yonhap News Summary 17:07 April 03, 2023

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

Yoon likely to veto grain bill Tuesday

SEOUL -- President Yoon Suk Yeol is expected to use his veto power this week against a contentious bill requiring government purchase of surplus rice, an official said Monday, in what would be his first veto of a bill since he took office.

(LEAD) 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.

(LEAD) Seoul shares snap 4-day winning streak amid soaring oil prices; Korean won sharply down

SEOUL -- South Korean shares ended lower to snap their four-day winning streak Monday as Saudi Arabia and other OPEC+ members' announcement of surprise output cuts are raising renewed concerns over inflation. The Korean won sharply fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.52 points, or 0.18 percent, to close at 2,472.34. Trading volume was moderate at 801.73 million shares worth 11.16 trillion won (US$8.5 billion), with gainers outpacing decliners 510 to 370.

Another accomplice booked in abduction, murder of woman

SEOUL -- Police on Monday added another suspect to the investigation of last week's abduction and murder of a woman from southern Seoul.

Three people were apprehended Friday for allegedly kidnapping a woman from Seoul's Gangnam Ward on Wednesday night and killing her the following day in Daejeon, about 140 kilometers south of the capital.

(LEAD) 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.

Gov't to launch consultative body to increase defense industry exports

SEOUL -- The government plans to launch a private-public consultative body to help increase defense industry exports, the presidential office said Monday.

The new body will bring together the presidential National Security Office, the defense, foreign and industry ministries, the Defense Acquisition Program Administration and defense companies to discuss strategies for boosting arms exports.

N. Korea's nuclear test would be 'out of character' given call for mass production of nukes: expert

SEOUL -- North Korea appears to be preparing for another nuclear test, but it would be "out of character" if such a test is carried out now, given its leader Kim Jong-un's call for the mass production of a nuclear arsenal, an expert at 38 North said Monday.

Jenny Town, director at the Stimson Center's 38 North, a United States website monitoring North Korea, also said there have been no "notable" movements indicating an imminent nuclear test at the Punggye-ri nuclear test site.

Court grants bail to ex-national security adviser arrested over death of fisheries official

SEOUL -- Former national security adviser Suh Hoon, who was arrested about four months ago over alleged irregularities surrounding the 2020 death of a South Korean fisheries official at the hands of North Korea, was granted bail by a court Monday.

The Seoul Central District Court approved Suh's application for bail on condition that he pays a deposit of 150 million won (US$114,000) and stays in his registered residence. He was also ordered to obtain the court's permission before leaving his residence or going on an overseas trip.

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