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Yonhap News Summary
The following is the first summary of major stories moved by Yonhap News Agency on Monday.
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Lee reaffirms policy for the underprivileged
SEOUL -- President Lee Myung-bak reaffirmed Monday that he will concentrate his efforts on improving the livelihood of underprivileged people during the remainder of his tenure.
Lee pointed out the effects of an economic recovery have yet to reach the working class and other low-income people, dubbed "seomin" in Korean.
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Audit finds foreign ministry gave special favors to FM's daughter in hiring process
SEOUL -- The foreign ministry violated regulations and gave special favors to hire the foreign minister's daughter, auditors announced Monday after looking into allegations that led to the minister's resignation.
Foreign Minister Yu Myung-hwan's daughter had been hired to a mid-level post for trade-related affairs late last month. Allegations surfaced last week that she was given preferential treatment.
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Foreign minister expresses regret, apologizes as he ends decades of foreign service in disgrace
SEOUL -- Outgoing Foreign Minister Yu Myung-hwan expressed his regret and apologized Monday as he ended nearly 40 years of foreign service in disgrace over a scandal involving his ministry's hiring of his daughter.
"I don't know how to express my apologetic feelings as troubles have been caused to the organization and the colleagues," Yu was quoted as telling a meeting of senior ministry officials. "I am apologetic and regretful."
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Trust firms' assets under management jumps 25.2 pct in Q2
SEOUL -- Trust companies in South Korea saw their combined assets under management (AUM) expand 25.2 percent in the second quarter from a year earlier, the financial watchdog said Monday.
The total AUM of 53 local fiduciaries reached 357.4 trillion won (US$304.6 billion) as of the end of June, compared with 285.4 trillion won a year earlier, the Financial Supervisory Service (FSS) said in a report.
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S. Korea's per capita GDP to surpass $20,000 this year: IMF
SEOUL -- South Korea's 2010 per capita gross domestic product (GDP) is expected to surpass the US$20,000 mark for the first time in three years thanks to solid economic gains, a report by the International Monetary Fund (IMF) said Monday.
The report by the Washington-based organization said the country's per capita GDP could reach $20,566 fueled by annual economic growth that may top 6.1 percent this year, up from $17,071 tallied in 2009 when the economy posted gains of just 0.2 percent.
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S. Korea's solid economic growth fueling labor market recovery: report
SEOUL -- South Korea's robust economic recovery is helping to fuel a recovery in the labor market, a state-run think tank said Monday.
The Korea Development Institute (KDI) said in its monthly report that as of July the number of employed workers grew by 473,000, or 2.0 percent, from a year earlier.
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(Yonhap Feature) Seoul railway stations morph into shopping centers
SEOUL -- Even on a weekday afternoon, a stream of shoppers strolls through a modern glass railway station building in Cheongyangni, northeastern Seoul, which doubles as a local shopping hub.
Once notorious as a hangout for those living rough on the streets, the spruced-up station plaza now bustles with customers and travelers. It is hard to imagine that a worn-out, squalid station building used to stand there.
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