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Yonhap News Summary
The following is the first summary of major stories moved by Yonhap News Agency on Wednesday.

  
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S. Korean NGOs start shipping humanitarian aid to N. Korea
SEOUL -- South Korean non-governmental organizations (NGOs) started shipping out humanitarian aid to North Korea on Wednesday to help alleviate the plight of children and sick people in the impoverished country.

   The move comes after Seoul's unification ministry approved the shipment of goods earlier in the week as a sign that South Korea is open to offering urgent humanitarian assistance to the North in spite of sanctions on the North for its nuclear device detonation in February.

  
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(LEAD) USFK chief nominee says OPCON transfer needed in 2015
WASHINGTON -- The nominee to become the top commander of American troops in South Korea said Tuesday he supports the transition of wartime operational control (OPCON) as scheduled in 2015, despite Seoul's call for some flexibility on the timeline.

   The stance by Army Lt. Gen. Curtis Scaparrotti reflects a gap between the allies on the appropriate timing for the OPCON transfer in the face of growing threats from nuclear-armed North Korea.

  
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Spy agency raids IT firm involved in N.K. cyber attacks
SEOUL -- South Korean intelligence officials are investigating a local IT company owner suspected of helping a North Korean hacker distribute malignant codes to South Korea, officials said Wednesday.

   The National Intelligence Service reportedly raided the home and offices of the South Korean businessman, identified only by his surname Kim, on Tuesday after obtaining a search warrant from a local court.

  
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Ex-tax chief faces summons over CJ lobbying scandal
SEOUL -- A former chief of the national tax agency will be summoned this week over suspicions that he took bribes from CJ Group in return for providing favors during a tax audit into the local food and entertainment conglomerate in 2006, prosecutors said Wednesday.

   Jeon Goon-pyo, who headed the National Tax Service (NTS) from July 2006 to November 2007, has been notified to show up for questioning at the Seoul Central District Prosecutors' Office in southern Seoul on Thursday morning, they said.

  
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N. Korea warns joint S. Korea-U.S. military drill will fuel tensions
SEOUL -- North Korea warned Wednesday that a joint South Korea-U.S. military drill scheduled for mid-August will once again fuel tensions on the Korean Peninsula.

   The annual Ulchi Freedom Guardian (UFG) exercise, which aims to improve the defensive posture of the two allies against potential attacks by the North, is slated to take place in South Korea next month.

  
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Woori Finance's sale value estimated at 5.4 tln won: regulator
SEOUL -- The deal to sell state-run Woori Finance Holdings Co. is estimated to fetch at least 5.42 trillion won (US$4.85 billion), the financial regulator said Wednesday, amid the government's push to wrap up the long-pending privatization of the banking giant.

   The Financial Services Commission (FSC), the country's top financial regulator in charge of the Woori sale, said the estimated value has grown by 1.9 trillion won from the figure it came up with a year earlier.

  
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Regulator to impose new capital rules on bank holding firms
SEOUL -- Bank holding companies in South Korea will be required to comply with revised global capital rules from December as part of efforts to beef up their financial health in line with international standards, the financial regulator said Wednesday.

   The Financial Services Commission (FSC), the country's top financial regulator, will impose the Basel III capital requirements on local bank holding firms as of Dec. 1, according to the watchdog.

  (END)
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