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Yonhap News Summary

2017/07/17 17:00

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

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(News Focus) Seeking talks, S. Korea tests Kim Jong-un's appetite for warming ties

SEOUL -- South Korea's offer of military and family reunion talks with North Korea on Monday reflects President Moon Jae-in's resolve to draw a line between sanctions on Pyongyang and efforts to improve bilateral ties.

It's also seen as a litmus test of whether the Kim Jong-un regime is interested in changing the course of belligerence.

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(LEAD) Moon welcomes minimum wage hike, vows support for small firms

SEOUL -- President Moon Jae-in hailed the scheduled increase in the minimum wage Monday, calling it a great move toward people-oriented growth and the right to live as humans.

"It will mark a great turning point for opening the era of people-oriented growth by reducing the extreme income gap," he said while meeting with his top presidential secretaries, according to Cheong Wa Dae pool reports.

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(LEAD) parliamentary chief-constitutional revision

SEOUL -- National Assembly Speaker Chung Sye-kyun voiced hopes Monday that ruling and opposition parties can come up with a joint proposal for a constitutional revision by the end of the year and submit it early next year.

During his speech marking the 69th Constitution Day, Chung also said that the amendment of the decades-old basic law must be carried out "for the benefit of the country's citizens and its future" in an open, transparent way.

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(LEAD) Top financial regulator nominee vows restructuring in petrochemical, steel sectors

SEOUL -- The nominee for the nation's top financial regulator said Monday he would take "bold" steps in restructuring the petrochemical and steel sectors

Choi Jong-ku, a former deputy finance minister who served at the finance ministry for about three decades, was picked by President Moon Jae-in to head the Financial Services Commission (FSC).

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(LEAD) Seoul stocks at another historic high, Samsung affiliates lead gains

SEOUL -- South Korean stocks ended at a fresh record high Monday taking a cue from gains on Wall Street last week. The won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.47 points, or 0.43 percent, to close at a record high of 2,425.10. Trade volume was moderate at 252.17 million shares worth 4.82 trillion won (US$4.27 billion), with gainers outnumbering losers 526 to 279.

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S. Korea expects exports to extend winning streak in July

SEOUL -- South Korea's exports are expected to extend their winning streak for a ninth consecutive month in July, helped by strong shipments of semiconductors, ships and petrochemical products, officials said Monday.

The outlook came after a monthly meeting between government officials and business representatives on exports, led by Lee In-ho, vice minister at the Ministry of Trade, Industry and Energy.

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(END)

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