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Yonhap News Summary

2017/11/10 13:13

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


(Yonhap Feature) Tech meets beauty to create smart skin solutions

SEOUL -- Kim Na-yul, a 38-year-old PR manager in Seoul, regularly sees dermatologists to get "intensive care" to erase dark spots and shrink the pores on her nose and cheeks.

"After I turned 30, I started buying more expensive creams and essences. And in recent years, I decided to get help from the latest laser technology, though it costs quite a bit of money," said Kim, who looks like she is in her late 20s or early 30s. "Good skin condition is what makes you look younger. So I think it's worth the money."



Hyundai Motor to supply 200 trucks to Pakistani dealership

SEOUL -- Hyundai Motor Co., South Korea's biggest carmaker by sales, said Friday it has signed a deal to supply 200 large trucks to a Pakistani dealership.

The carmaker plans to deliver the Xcient trucks to the dealership within next year, Hyundai Motor said in a statement.

It didn't provide the value of the deal. A large truck such as the Xcient carries a price tag of more than 100 million won (US$89,000).


Refiners report solid Q3 earnings on expanded margins

SEOUL -- South Korean oil refiners, led by SK Innovation Co., delivered strong earnings for the third quarter of the year on the back of good refining margins and solid demand for key products, their filings showed on Friday.

SK Innovation Co., the top oil refiner, reported an 87 percent rise in its third-quarter net profit from a year earlier thanks to higher oil prices and improved cracking margins.


Amended KORUS FTA to barely affect S. Korea's real GDP: study

SEOUL -- Additional market openings following a possible amendment to the free trade agreement (FTA) with the United States is not likely to have a visible impact on the South Korean economy because the two countries have already scrapped tariffs in many sectors, a study showed Friday.

The Ministry of Trade, Industry and Energy unveiled an economic feasibility study on the renegotiation of the five-year-old deal, known as the KORUS FTA, which was conducted by three state research institutes during a public hearing held in Seoul.


S. Korea's tax income increase through Sept.

SEJONG -- The South Korean government saw its national tax revenue continue to increase in the first nine months of this year amid signs of economic recovery, the finance ministry said Friday.

It collected 207.1 trillion won (US$185.2 billion) in taxes in the January-September period, up 18 trillion won from the same period last year, according to the Ministry of Strategy and Finance.

The amount collected is equal to 82.5 percent of this year's tax revenue target of 251.1 trillion won. The total takes into account the 11 trillion won supplementary budget, which was approved by parliament in summer.


S. Korean economy on recovery track thanks to exports, consumption: gov't report

SEJONG -- The South Korean economy will likely maintain its current recovery pace going forward on the back of strong overseas sales and rebounding private consumption, a government report said Friday.

"The South Korean economy has been maintaining an upturned pace on the back of brisk exports and recovering global demand, while private consumption made a turnaround from a long slump," the finance ministry said in its monthly economy assessment report. "Thanks to a rally in exports and increased government spending, the recovery pace is expected to continue."



(2nd LD) Gov't to offer 66 bln won in compensation for Kaesong firms

SEOUL -- South Korea said Friday it will expand compensation for hundreds of domestic companies with huge losses stemming from investments in inter-Korean projects suspended due to political tension.

The government plans to offer 66 billion won (US$59 million) to the 124 firms that operated factories at the Kaseong Industrial Complex and around 140 subcontractors, according to the Unification Ministry.


(News Focus) Six months into office, Moon keeps steady hand on reforms

SEOUL -- Six months into office, President Moon Jae-in is forging ahead with the spadework for far-reaching national reforms despite bureaucratic inertia, legislative constraints and convoluted geopolitics.

With a landslide win in the May 9 by-election, Moon secured a powerful mandate to push for his liberal agenda while moving forward a demoralized country rattled by a massive corruption scandal that led to the March ousting of his predecessor Park Geun-hye.


(News Focus) Global market improvements fuel upturn in S. Korea economy under President Moon

SEJONG -- When President Moon Jae-in took office after his victory in the unprecedented presidential by-election in May, he was confronted with tough challenges ranging from social upheaval caused by his predecessor to heightened regional diplomatic and military tensions.

One of the biggest issues confronting the chief executive was finding a way to tackle the protracted economic slowdown, as many experts fretted that Asia's fourth-largest economy was losing steam and entering a period of chronically low growth.