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Yonhap News Summary

2017/07/31 18:40

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


(2nd LD) N.K. likely to fire more missiles, conduct nuke test: Seoul

SEOUL -- North Korea is likely to conduct an additional ballistic missile launch and its sixth nuclear test following its latest launch of an intercontinental ballistic missile (ICBM), South Korea's defense ministry said Monday.

"There is a possibility that North Korea is likely to test its nuclear warhead and missile capabilities through a nuclear test with more explosive power," the Ministry of National Defense said in a report to the National Assembly.


(2nd LD) Prosecutors indict two ex-People's Party campaign officials over fake tip-off

SEOUL -- Prosecutors on Monday indicted two former senior members of the minor opposition People's Party without detention over a fabricated tip-off about President Moon Jae-in's son used during the May election.

Wrapping up its monthlong probe, the prosecution concluded the party's leaders, including co-founder and presidential candidate Ahn Cheol-soo, were not involved in the scandal, which has thrust the centrist party into its worst crisis only over a year after its launch.


(3rd LD) S. Korea launches team to review comfort women deal with Japan

SEOUL -- South Korea officially launched a task force to review an agreement with Japan reached in 2015 to settle a long-standing bilateral feud over Japan's imperial-era mobilization of Korean women as sex workers, the foreign ministry said Monday.

The TF is tasked with fact-finding and assessing the processes leading up to the signing of the so-called comfort women deal, as well as its terms, the Ministry of Foreign Affairs said.


S. Korean stocks close mildly higher amid N. Korean tensions

SEOUL -- South Korean stocks finished slightly higher Monday with institutions going on a buying spree as foreign and individual investors dumped local shares to lock in recent gains, amid growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) edged up 1.72 points, or 0.07 percent, to close at 2,402.71. Trade volume was modest at 273.94 million shares worth 5.6 trillion won (US$5.1 billion), with losers outnumbering gainers 504 to 301.


People's Party apologizes over fake tip-off scandal, vows reform

SEOUL -- The minor opposition People's Party on Monday apologized over a fake tip-off scandal and pledged sweeping reform hours after the prosecution indicted two former party campaigners involved.

The party, which was launched last year under the motto of "clean, new politics," faces its worst crisis after a party member was accused last month of fabricating an election-season allegation against President Moon Jae-in's son.


Kakao Bank attracts more than 1 million accounts in 5 days

SEOUL -- Kakao Bank, South Korea's second Internet-only bank, said Monday it has attracted more than 1 million accounts in five days since its launch, a potential game-changing development in the country's financial sector.

The bank said the number of clients hit the milestone as of 1 p.m. on Monday, with deposits and loans being estimated at 344 billion won (US$307 million) and 323 billion won, respectively.


President Moon appoints new head of broadcasting commission

SEOUL -- President Moon Jae-in appointed the new head of the top regulator for broadcasters on Monday by signing an electronic document for the appointment during his summer vacation.

Lee Hyo-seong, a former professor of Seoul's Sungkyunkwan University, was appointed the new chairman of the Korea Communications Commission (KCC).


Committee launched to probe into blacklisting artists

SEOUL -- The South Korean government on Monday launched a special probe team to investigate blacklisting artists deemed unfriendly to the former President Park Geun-hye.

Listing anti-government artists and banning them from state financial support was one of the main things that sparked massive public protests and Park's impeachment last year. She was removed permanently by the Constitutional Court in March.