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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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Prosecution considers seeking int'l cooperation over ex-president's slush funds
SEOUL -- Prosecutors said Thursday they plan to seek international legal cooperation as part of efforts to locate concealed assets of former President Chun Doo-hwan, who owes a massive fine to the state.

   Chun was ordered by the nation's top court in 1997 to return to the state coffers 220 billion won (US$196.8 million) that he was found to have illegally accumulated during his term from 1980 to 1988.

  
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Mid-term defense program focuses on missile defense against N. Korea
SEOUL -- The defense ministry submitted a 214.5 trillion won (US$192.6 billion) budget request for the 2014-2018 fiscal year to the parliament for deliberation on Thursday, which focuses on beefing up South Korea's missile program against North Korea's nuclear and missile weapons.

   The budget proposal calls for 70.2 trillion won of the total, or 13.7 percent, to be used to purchase a missile shield program, including ballistic and cruise missiles as well as multipurpose commercial satellites and high-altitude spy drones in the next five years.

  
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(LEAD) Court commutes prison term of ex-President Lee's brother
SEOUL -- A Seoul appellate court on Thursday commuted the sentence of an elder brother of former President Lee Myung-bak to one year and two months from two years on bribery charges.

   Lee Sang-deuk, the former six-term lawmaker, was indicted on charges of receiving a total of 750 million won (US$654,165) in kickbacks from a local company and two troubled savings banks from 2007 to 2011.

  
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(2nd LD) S. Korea, France vow to expand trade, investment
SEOUL -- South Korea and France agreed Thursday to ramp up efforts to boost bilateral trade and investment by building a close cooperative network, Seoul officials said.

   The agreement came at a meeting between South Korean Prime Minister Chung Hong-won and his French counterpart Jean-Marc Ayrault, according to Seoul's Prime Minister's Office.

  
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(LEAD) Hyundai Motor's Q2 net edges down 1 pct
SEOUL -- Hyundai Motor Co., South Korea's largest automaker, said Thursday its second-quarter net profit edged down 1 percent from a year earlier as its work stoppage and rising costs cut into its bottom line.

   Net profit reached 2.52 trillion won (US$2.2 billion) in the April-June period, compared with 2.54 trillion won a year earlier, the Seoul-based company said in a regulatory filing.

  
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(2nd LD) POSCO's Q2 profit dips on weak demand, prices
SEOUL -- POSCO, South Korea's leading steelmaker, said Thursday that its second-quarter net profit sank 48 percent from a year earlier on weak demand and decreased prices.

   Net profit reached 241 billion won (US$216 million) on a consolidated basis in the April-June period, compared with a profit of 466 billion won a year earlier, the company said.

  (END)
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