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Yonhap News Summary

2018/02/09 17:09

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

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Hankook Tire supplying tires for Audi RS 4 Avant

SEOUL -- Hankook Tire Manufacturing Co., the world's seventh-biggest tiremaker by sales, said Friday that it is supplying its ultra-high-performance tires to Audi for its RS 4 Avant.

Hankook Tire said it has been providing the Ventus S1 evo² as original equipment (OE) tires to the German carmaker for the performance-oriented RS 4 since May 2017.

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S. Korea logs budget surplus for 3rd straight year in 2017

SEJONG -- South Korea posted a budget surplus for the third year in a row in fiscal 2017 as its tax revenue rose sharply on increased corporate and value added taxes, the finance ministry said Friday.

The gross revenue that the government brought in last year came to 359.5 trillion won (US$330 billion), while its expenditures totaled 342.9 trillion won, according to the Ministry of Strategy and Finance after closing its books for the fiscal year.

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LG Electronics showcases premium home appliances in France

SEOUL -- LG Electronics Inc. said Friday it has showcased its premium televisions and other electronic goods at a festival in France in the latest efforts to boost its market share in Europe.

The South Korean tech giant said visitors had a firsthand chance to experience a wide range of LG products equipped with its artificial intelligence platform, DeepThinQ, at the Palais des Festivals in Cannes, southern France.

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N.K. leader's sister engages in peace offensive in ruling family's first trip to S. Korea

SEOUL -- The younger sister of North Korean leader Kim Jong-un made a rare visit to South Korea Friday, drawing attention to what message she would bring from her brother over inter-Korean ties.

Wearing a dark coat, Kim Yo-jong arrived at Incheon International Airport aboard a jet at 1:46 p.m. as a member of a high-level delegation led by ceremonial head of state Kim Yong-nam.

It marks the first time that a member of the North's ruling family dynasty has visited the South.

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(LEAD) Seoul mulling various options for GM Korea: finance minister

SEOUL -- South Korea is looking at various options for the South Korean unit of U.S.-based automaker General Motor, as market rumors swirl over the carmaker's potential pullout, the country's finance minister said Friday.

GM Korea has been struggling with falling sales and a mounting deficit amid rising costs, which market watchers say could prod GM to consider withdrawing its Korean operations.

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(Olympics) S. Korean mixed doubles curling team earns second win

GANGNEUNG -- South Korea's mixed doubles curling team of Jang Hye-ji and Lee Ki-jeong beat the United States Friday for their second win at the PyeongChang Winter Olympics.

Jang and Lee routed the U.S. siblings of Becca and Matt Hamiltonm, 9-1, in the fourth match of the preliminary mixed doubles event held at Gangneung Curling Center.

Mixed doubles curling is being contested for the first time at these Olympic Games.

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Hyundai Merchant forms consortium with foreign partners

SEOUL -- Hyundai Merchant Marine Co. (HMM), South Korea's top shipping firm, said Friday that it has formed a consortium with three foreign partners for services linking Asia to the West Coast of Latin America.

The consortium will launch three routes that connect Asia to South America in early April, according to HMM.

Major ports on the routes include Busan, Hong Kong and Lazaro Cardenas, Mexico's biggest port, and San Antonio, a port in Chile.

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S. Korea, Switzerland agree on currency swap deal

SEOUL -- South Korea and Switzerland have clinched a standing bilateral currency swap deal that will help expand financial exchanges between the two countries, Seoul's central bank said Friday.

The Bank of Korea said its governor Lee Ju-yeol and the chairman of the Swiss National Bank governing board, Thomas Jordan, will sign the agreement in Zurich on Feb. 20.

The swap agreement enables Korean won and Swiss francs to be purchased and repurchased between the two central banks up to a limit of 11.2 trillion won (US$10.6 billion), or 10 billion Swiss francs.

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Moon urges Japan to look 'squarely' at history for improved ties with S. Korea

SEOUL -- South Korean President Moon Jae-in on Friday expressed hope to form what he called "true friendship" with Japan but said Japan must first look squarely at the countries' shared history.

In a bilateral summit with Japanese Prime Minister Shinzo Abe, Moon called for efforts to enable a future-oriented relationship between the two countries.

"I sincerely hope the two countries can be true friends that can communicate with heart. As I have repeatedly said before, I plan to work with the prime minister to enable future-oriented cooperation while looking squarely at history," Moon said, according to pool reports.

(END)

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