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Yonhap News Summary
The following is the second summary of major stories moved by Yonhap News Agency on Thursday.
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Seoul says time not ripe for 6-way talks, despite Chinese envoy's N.K. visit
SEOUL -- South Korea believes now is not the right time to talk about resuming international talks on North Korea's nuclear programs, an official said Thursday after a senior Chinese envoy visited Pyongyang on an apparent mission to kick-start the negotiating process.
China's foreign ministry said Thursday that the country's chief nuclear envoy, Wu Dawei, visited the North from Monday through Wednesday. The previously unannounced trip included discussions on maintaining the peace and stability of the Korean Peninsula and on restarting the six-party talks, China said.
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U.S. supercarrier unlikely to join upcoming drills with S. Korea: official
SEOUL -- The United States is unlikely to send its massive aircraft carrier to the planned naval drills with South Korea scheduled for early next month because they will focus on anti-submarine warfare operations, an official at Seoul's defense ministry said Thursday.
The forthcoming exercises to be held off the Korean Peninsula's west coast are part of a series of drills planned by South Korea and the U.S. in the coming months in response to the March sinking of one of the South's warships blamed on North Korea.
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Seoul, U.S. embassy near preliminary deal on new embassy building
SEOUL -- Seoul's city government said Thursday it is close to signing a preliminary agreement with the U.S. embassy here on the construction of a new chancery building and other facilities.
South Korea and the U.S. agreed in principle in 2005 to move the current U.S. embassy building, situated at the heart of downtown Seoul, to Camp Coiner, a U.S. military base in the Yongsan Garrison, also near the city's downtown area.
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(LEAD) N. Korea thwarting S. Korea's bids to block access to online propaganda
SEOUL -- North Korea is altering the online addresses of its statements denouncing South Korea and the United States in a new attempt to thwart Seoul's bids to block access to them, an official said Thursday.
Last week, the communist country opened an account with the highly popular global microblogging service Twitter, "tweeting" links to statements posted on its official Web site, http://www.uriminzokkiri.com.
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State bank to support cash-strapped small exporters to Iran
SEOUL -- The state-run Industrial Bank of Korea (IBK) said Thursday it will extend special loans to small and mid-size exporters to Iran to help them tide over a liquidity crunch due to a U.S. halt in financial transactions with Tehran.
Washington has issued a set of financial sanctions against Iran to punish the country over its alleged nuclear weapons program. The move has made it difficult for South Korean exporters to receive money from Iran, Seoul's biggest trading partner in the Middle East.
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Goldman Sachs raises target stock prices on S. Korean retailers
HONG KONG -- Goldman Sachs said Thursday that it has raised its 12-month target stock prices for two major South Korean retailers, Lotte Shopping Co. and Hyundai Department Store Co., citing their improving earnings.
The global investment giant adjusted the target prices on Lotte Shopping and Hyundai Department Store to 450,000 won (US$384) from 358,000 won and to 137,000 won from 127,000 won, respectively.
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(LEAD) Seoul shares end 1 pct higher on blue-chip exporters
SEOUL -- South Korean stocks finished 1 percent higher Thursday, led by blue-chip tech and auto exporters, as investor sentiment was buoyed by expectations for Japan's move to curb the yen's steep rise, analysts said. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 17.65 points to 1,779.65, extending its winning streak to a third session. Trading volume was moderate at 339 million shares worth 5.16 trillion won (US$4.4 billion) with winners leading losers 453 to 349.
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