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Yonhap News Summary

2017/09/11 16:51

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

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(LEAD) Constitutional Court chief nominee fails to win parliamentary confirmation

SEOUL -- South Korea's parliament failed to approve the controversial Constitutional Court chief nominee in a long-delayed vote Monday, dealing a dispiriting blow to President Moon Jae-in and prolonging the leadership void at the top of the judiciary.

Among 293 lawmakers present, 145 voted for Kim Yi-su, with another 145 against him. One abstained and two votes were listed as invalid. Kim's approval required the backing of a majority of lawmakers participating in the vote.

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(2nd LD) N. Korea warns U.S. of 'greatest pain' over U.N. sanctions drive

SEOUL -- North Korea warned Monday that the United States will suffer the "greatest pain" if it pushes ahead with new tougher U.N. sanctions over its sixth nuclear test.

Pyongyang's threat comes as the U.S. asked the United Nations Security Council (UNSC) last week to vote on new sanctions Monday in response to the North's most powerful nuclear test.

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(3rd LD) IMF chief says S. Korean economy likely to grow 3 pct this year

SEOUL -- International Monetary Fund (IMF) chief Christine Lagarde expressed optimism Monday about the future of the South Korean economy as she forecast Asia's fourth-largest economy to grow 3 percent this year.

The assessment is in line with South Korea's growth outlook for 2017. In July, South Korea raised its target growth to 3 percent from 2.6 percent, citing export-led growth.

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S. Korea spending on families among lowest in OECD states: data

SEOUL -- South Korea was one of the smallest investors in families among member states of the Organization for Economic Cooperation and Development (OECD) in 2013, a report showed Monday.

The country allocated 1.13 percent of its gross domestic product (GDP) to family benefits spending, and therefore ranks 32nd among 35 OECD member states surveyed, according to the OECD report.

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S. Korean banks lag in global competitiveness

SEOUL -- South Korean banks lag behind global rivals in terms of capital adequacy and profitability, according to an industry analysis on Monday.

The analysis of The Banker's Top 1,000 World Bank ranking, conducted by Korea Ratings, a local ratings agency, showed that five South Korean banks were among the world's top 100 banks.

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Samsung expands chip foundry portfolio with new tech

SEOUL -- Samsung Electronics Co., South Korea's tech giant, said Monday that it has added an advanced chip processing technology to its foundry portfolio which will provide its customers with a wider range of options for their products.

The 11-nanometer FinFET, or 11 low power plus (LPP), scaled down from the 14LPP process, delivers up to 15 percent higher performance and up to a 10 percent chip area reduction with the same power consumption, according to Samsung.

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JYP partners with Mnet for new boy band audition show

SEOUL -- JYP Entertainment, one of South Korea's largest entertainment agencies, has partnered with cable TV network Mnet in producing a new idol audition program, according to the company Monday.

The show aimed at debuting a boy band will air from Oct. 17, JYP said. It will be the first JYP-Mnet collaboration since "Sixteen," through which members of K-pop sensation TWICE were discovered two years ago.

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Nat'l team coach vows to play attacking football in friendlies

SEOUL -- South Korea's national football team head coach Shin Tae-yong said Monday his side will play attacking football in upcoming friendly matches for its preparations for the 2018 FIFA World Cup.

South Korea clinched its ninth consecutive World Cup appearance last week after finishing runners-up in Group A in the final Asian qualifying round. In Asia, the top two teams each in Groups A and B directly advance to the World Cup in Russia, while third-placed teams have to enter a playoffs to earn a berth.

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