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Yonhap News Summary

2017/08/02 13:50

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

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(3rd LD) U.S. does not seek regime change in N. Korea: Tillerson

WASHINGTON -- The United States does not seek a regime change in North Korea, Secretary of State Rex Tillerson said Tuesday, as tensions renewed over the country's nuclear and missile programs.

North Korea conducted its second test of an intercontinental ballistic missile last week, fueling concerns that the communist nation may be close to delivering a nuclear weapon to the U.S. mainland.

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Irregular workers account for one out of 10 employees at conglomerates

SEOUL -- One out of every 10 workers at South Korea's top 30 business groups were irregular workers as of end-March this year, with the rate highest at construction firms, research data showed Wednesday.

According to an analysis by corporate tracker CEO Score of 360 companies who have over 300 full-time workers, the business groups checked had 119,577 non-regular workers, or 9.6 percent of the total 1.24 million. The latest figure marks a 4.2-percent drop from last year.

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SK hynix most profitable among listed firms in Q2

SEOUL -- Chip giant SK hynix Inc. posted the highest operating margin among large-gap companies in the second quarter of the year on its strong semiconductor business, data showed Wednesday.

The consolidated operating margin of SK hynix, the crown jewel of South Korea's No. 3 conglomerate SK Group, came to 45.6 percent during the April-June period, the largest among the top 30 listed companies by market capitalization, according to the data by the Financial Supervisory Service.

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At least 4.8 tln. won necessary to compensate victims of past tragedies

SEOUL -- More than 4.8 trillion won (US$4.27 billion) is estimated to be required to compensate victims of civilian massacres and other tragic incidents involving government abuse of power during the dark decades up until South Korea's democratization.

The government of President Moon Jae-in has made it one of its agenda goals to resolve the grievances of victims of state abuse of power since Korea's 1945 liberation from Japan's colonial rule through the following decades of authoritarian rule.

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S. Korea eyes trilateral FM talks with U.S., Japan

SEOUL -- South Korea is pursuing a trilateral foreign ministerial meeting with the United States and Japan to discuss North Korea's nuclear stalemate and other issues of mutual concern, a foreign ministry official said Wednesday.

Foreign Minister Kang Kyung-wha is to attend foreign ministerial meetings of the Association of Southeast Asian Nations (ASEAN) early next week in Manila, the Philippines. They include the ASEAN Regional Forum (ARF), a rare gathering attended by North Korea.

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Samsung, SK hynix to make record-high investments in 2017

SEOUL -- Samsung Electronics Co. and SK hynix Inc. are anticipated to make record investments to expand and upgrade their facilities this year, industry sources said Wednesday, amid the global boom in mobile and computer chips.

The two South Korean tech giants plan to allocated a whopping 30 trillion won (US$26.7 billion) to secure sustainable growth following their robust performances, sources said.

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Gov't outlines new measures to deal with overheating housing market

SEOUL -- South Korea on Wednesday outlined a new set of measures to stabilize the country's overheating housing market as its previous efforts to curb speculative forces did not work properly.

The Moon Jae-in government announced its first real-estate measures in June a month after taking office, to strengthen lending rules that can help deal with speculators and keep household loans from rising further.

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Liberty Korea Party unveils 'new conservatism" credo

SEOUL -- The main opposition Liberty Korea Party on Wednesday put out "new conservatism" as its new motto while it strives to revamp its image associated with corruption-tainted former President Park Geun-hye.

The party's reform panel, launched last month under the directive of its new leader Hong Joon-pyo, issued an "innovation declaration," vowing to strengthen internal cohesion, bring together the country's fractured conservatives and regain public support.

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