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Yonhap News Summary

2017/03/16 17:27

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

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(2nd LD) Regulators warn of impact from U.S. rate hike

SEOUL -- South Korea's top regulators voiced concern Thursday about the possible impact of the U.S. interest rate hike on the household debt problem here and the foreign exchange liquidity situation.

Even if there is no immediate sign of market instability as the market predicted the Fed's decision to raise the key rate by 25 basis points, additional steps will likely weigh on Asia's fourth-biggest economy plagued by a slew of challenges, according to the head of Seoul's financial watchdog.

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(LEAD) Seoul stocks hit fresh highs in almost 2 yrs on eased Fed rate concerns

SEOUL -- South Korean stocks reached fresh highs in almost two years on Thursday, as the U.S. Federal Reserve hinted at gradually raising interest rates down the road. The Korean won rose to the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 17.08 point, or 0.8 percent, to close at 2,150.08, after rising as high as 2,156.85 points in the morning session. Trade volume was moderate at 396 million shares worth 5 trillion won (US$4.42 billion), with gainers outnumbering losers 528 to 278.

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Prosecutors rule out raid on Cheong Wa Dae, Park's home

SEOUL -- Prosecutors investigating allegations of corruption involving former President Park Geun-hye and her friend said Thursday that they have no plans to raid the presidential office Cheong Wa Dae or Park's home.

A senior prosecutor told reporters that a raid on Cheong Wa Dae or Park's residence is meaningless at this point, indicating that prosecutors may have secured sufficient evidence to back allegations of Park's bribery and other suspected charges through months-long investigations, including the one led by a special counsel team.

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(LEAD) Tillerson to visit DMZ as part of S. Korean tour

SEOUL -- U.S. Secretary of State Rex Tillerson is to visit the Demilitarized Zone (DMZ) on Friday as the first major schedule of his trip to South Korea, the foreign ministry said Thursday, in an apparent bid to demonstrate a strong alliance between the two countries against North Korea.

Tillerson is to come to South Korea early Friday after staying in Japan as part of his three-country trip to Asia that will also take him to China on Saturday.

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JYJ's Park cleared of sex asault charges: agency

SEOUL -- Park Yu-chun, member of K-pop boy band JYJ, has been cleared of all four sexual assault allegations that have dogged him since last year, his agency said Thursday.

C-JeS Entertainment, Park's agency, said that "the Seoul Central District Prosecutors Office notified (Park) of such investigation results," and added, "the string of cases involving Park Yu-chun since last June have been closed."

  

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(LEAD) S. Korea reviewing N.K. bid to attend women's hockey competition

SEOUL -- Seoul is reviewing whether to approve North Korea's bid to join a women's international hockey tournament to be held in South Korea next month, a government official said Thursday.

The International Ice Hockey Federation (IIHF) Women's World Championship Division II Group A will take place in Gangneung of Gangwon Province, east of Seoul, from April 2-8.

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