select languages
sns RSS mobile twitter
latestnewslatestnews RSS
News Summary
Home > News Summary
Yonhap News Summary
The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.

N. Korea proposes talks on Kaesong park on Aug. 14
SEOUL -- North Korea proposed Wednesday that the two Koreas hold another round of talks on Aug. 14 aimed at normalizing a joint industrial complex that has been shuttered since early April.

   The offer, made by the Committee for the Peaceful Reunification of Korea (CPRK), comes more than a week after Seoul demanded "final talks" to resolve all outstanding issues surrounding operations at the Kaesong Industrial Complex.

Korea to host Croatia in Sept. football friendly
SEOUL -- South Korea will host Croatia in a football friendly next month, a source told Yonhap News Agency on Wednesday.

   The source privy to matters at the Korea Football Association (KFA) said South Korea will bring home Croatia on Sept. 10, one of two FIFA-designated international match days of September.

Rival parties agree on witnesses for spy agency probe
SEOUL -- Rival political parties on Wednesday agreed on a list of witnesses they will summon for a parliamentary probe into the state spy agency's alleged meddling in last year's presidential election.

   The agreement comes after weeks of wrangling between rival parties over who should stand as witnesses and how to ensure their appearance at the hearings.

(LEAD) Kaesong companies to receive 280.9 bln won in insurance payment
SEOUL -- The government said Wednesday that it has authorized 280.9 billion won (US$251.2 million) in insurance payments to South Korean companies that either have factories at the inter-Korean industrial complex in Kaesong or provided services to such firms four months after all operations there were halted.

   The decision to pay the insurance money to the 109 companies comes four months after all operations at the Kaesong Industrial Complex came to a screeching halt in early April amid heightened tensions on the Korean Peninsula. Six rounds of talks in July failed to make headway over how to set safeguards to prevent another work stoppage.

(LEAD) Seoul shares dip 1.48 pct on U.S. policy woes
SEOUL -- South Korean stocks dropped 1.48 percent Wednesday, as investors again awoke to the fact that the U.S. central bank will soon start winding down its stimulus scheme, analysts said. The local currency fell against the U.S. dollar.

   The benchmark Korea Composite Stock Price Index (KOSPI) slid 28.29 points to close at 1,878.33. Trading volume was moderate at 307.7 million shares worth 3.49 trillion won (US$3.12 billion) with decliners far outstripping gainers 550 to 256.

(LEAD) SK chief's appeals sentencing postponed to next month
SEOUL -- A sentencing for the convicted chairman of one of the country's largest conglomerates, SK Group, in an appeals trial has been postponed to Sept. 13, court officials said Wednesday.

   Chey Tae-won, 53, is currently undergoing appeals after being sentenced to four years behind bars by a lower court in January for embezzling nearly 50 billion won (US$45 million) in company funds to make personal investments in stock futures and options.

Seoul, Beijing to launch joint forum on public diplomacy next month
SEOUL -- South Korea will launch a joint forum with China on raising collaboration in public diplomacy next month, the foreign ministry said Wednesday.

   The forum, slated for late September in Seoul, is designed to promote bilateral cooperation in the field of public diplomacy encompassing usually non-political diplomacy efforts toward the public of each other's country, according to the Ministry of Foreign Affairs.

Tax overhaul focused on easing low income earners' burden: minister
SEOUL -- South Korea's tax code overhaul, which will be unveiled this week, will be focused on easing the burden on low income earners, and small- and medium-sized businesses, the finance minister said Wednesday.

   The government draws up its tax code revisions every year to reflect its broad economic policy directions and the latest economic conditions. The 2013 proposal will be unveiled on Thursday and submitted to the National Assembly for approval.

Tariff cut to boost competitiveness of eco-product makers: report
SEJONG -- Local manufacturers of eco-friendly goods will become more competitive in the global market when the 21 state members of the Asia-Pacific Economic Cooperation (APEC) forum cut tariffs on those products in 2016, a report said Wednesday.

   Last year, APEC leaders agreed to scale back tariffs on 54 eco-products -- including solar panels and wind turbines -- to 5 percent or less starting 2016.