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Yonhap News Summary

2017/09/05 13:30

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

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(3rd LD) Moon, Trump agree to remove limit on payload of S. Korean missiles

SEOUL -- South Korean President Moon Jae-in and U.S. President Donald Trump agreed to remove the limit on the payload of South Korean missiles under the allies' missile guideline in a move to enhance South Korea's own defense capabilities against North Korean provocations, Seoul's presidential office Cheong Wa Dae said Tuesday.

The agreement was reached in a telephone conversation between the two leaders held late Monday.

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U.S. to send more strategic assets to Korea: Pacific Fleet chief

SEOUL -- A top U.S. naval commander said Tuesday his country will keep sending formidable defense assets to the Korean Peninsula in combined deterrence and response to North Korea's "self-destructive" actions.

Adm. Scott Swift, who commands the U.S. Pacific Fleet, stressed that although South Koreans stand closest to the North's threats, they "do not face this aggressor alone."

   He cited the North's continued provocations, including "ill-advised" ballistic missile launches and inflammatory warnings of nuclear war, highlighted by its sixth nuclear test Sunday.

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S. Korea's peace proposal toward Pyongyang intact despite N.K. nuke test: official

SEOUL -- South Korea said Tuesday there is no change in its push for a peace proposal toward North Korea despite Pyongyang's latest nuclear test, as it seeks to resolve the North's nuclear issue and improve inter-Korean ties.

Seoul's vow to keep the initiative unveiled by President Moon Jae-in in Berlin came as tensions heightened after North Korea conducted its sixth and most powerful nuclear test Sunday.

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S. Korean Navy holds naval training against N. Korea

SEOUL -- South Korea's Navy said Tuesday it has conducted massive live-fire drills in the East Sea in a show of its resolve to retaliate against North Korea's provocations.

Among assets mobilized were the 2,500-ton Gangwon frigate, a 1,000-ton patrol ship, 400-ton guided-missile vessels and 130-ton high-speed boats, according to the Navy.

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(LEAD) Cabinet designates Oct. 2 as one-off holiday

SEOUL -- The Cabinet approved a proposal Tuesday to designate Oct. 2 as a one-off holiday to bridge the weekend and long Chuseok holiday so as to make it possible for workers to take 10 consecutive days off.

The designation would link the Sept. 30 weekend to the three-day Chuseok holiday, and then to the Oct. 6 alternative holiday for National Foundation Day and up to the Oct. 9 holiday commemorating the invention of the Korean writing system Hangeul.

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Ruling party renews calls for main opposition to lift parliamentary boycott

SEOUL, Sept. 5 (Yonhap) -- The ruling Democratic Party on Tuesday reiterated calls for the main opposition Liberty Korea Party (LKP) to stop its legislative boycott, underscoring the need for bipartisan cooperation in coping with escalating North Korean nuclear threats.

But the calls fell on deaf ears as the LKP boycotted a parliamentary plenary session and ratcheted up its assertion that the Moon Jae-in government is moving to hold sway over public broadcasters.

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S. Korea's growth ranking among OECD tumbles in Q2

SEOUL -- South Korea's economic growth ranking among major advanced and emerging economies plunged 10 spots in the second quarter from three months earlier as its recovery lost ground, data showed Tuesday.

Asia's fourth-largest economy expanded 0.6 percent on-quarter in the April-June period, compared with a 1.1 percent expansion for the first quarter, according to the data from the Organization for Economic Cooperation and Development (OECD).

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S. Korea's current account surplus narrows to US$7.26 bln in July

SEOUL -- South Korea's current account surplus narrowed in July from a year earlier due to an increased deficit in the services balance, central bank data showed Tuesday.

The country's current account surplus reached US$7.26 billion in July, compared with a surplus of $8.41 billion a year earlier, according to the preliminary data from the Bank of Korea (BOK).

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