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Yonhap News Summary

2018/02/22 17:00

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

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(LEAD) Seoul stocks drop on Wall Street losses

(ATTN: ADDS bond yields at the bottom)

SEOUL -- South Korean stocks ended lower Thursday as foreign investors and institutions cashed in recent gains following overnight losses on Wall Street, analysts said. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) declined 15.37 points, or 0.63 percent, to close at 2,414.28. Trade volume was light at 241.7 million shares worth 3.4 trillion won (US$3 billion), with losers outnumbering gainers 560 to 256.

Institutional investors and foreigners offloaded a net 107.2 billion won and 97.5 billion won worth of local stocks, respectively, while individuals were net buyers and snatched up 199.8 billion won in shares.

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(LEAD) Too early to predict U.S.-N.K. contact at Olympics: Seoul minister

(ATTN: RECASTS headline, lead; UPDATES with remarks by unification minister throughout)

SEOUL -- South Korea's unification minister said Thursday that it is too early to say whether officials from the United States and North Korea will meet on the sidelines of the PyeongChang Winter Olympics' closing ceremony.

North Korea said it will send a high-level delegation led by Kim Yong-chol, a senior party official, to the closing Sunday for a three-day trip. It coincides with a visit by U.S. President Donald Trump's daughter, Ivanka, to the South, fanning speculation about them possibly meeting here.

Unification Minister Cho Myoung-gyon told lawmakers that it is too early to predict such a possible contact at the current stage.

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(LEAD) Hyundai Heavy wins $58 mln order to build LPG tanks in Nigeria

(ATTN: UPDATES with details, closing share prices; ADDS photo)

SEOUL -- Hyundai Heavy Industries Co., the world's largest shipbuilder by sales, said Thursday it has received a US$58 million order to build 15 bullet tanks for storing liquefied petroleum gas (LPG) for a Nigerian firm.

Hyundai Heavy said it is set to deliver the tanks to Nigeria's Dangote Oil Refining Company, Africa's largest refinery, beginning in April 2019.

The 15 cylindrical tanks -- each being eight meters in diameter and 95 meters in length -- can hold 75,000 cubic meters of LPG, according to Hyundai Heavy.

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Counseling calls related to violence against women on the rise: data

SEOUL -- Calls related to violence against women made to a government-run hotline counseling service increased sharply last year, its operator said Thursday.

According to the Women's Human Rights Institute of Korea, the 1366 phone service received a total of 289,032 calls last year, an 8.3 percent increase from the previous year.

Domestic violence made up 62.4 percent with 180,326 cases, followed by sexual violence with 21,470 and dating violence with 8,291.

Calls related to dating violence have almost doubled each year, from 2,096 in 2015 to 4,138 in 2016 and 8,291 in 2017.

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(LEAD) (Olympics) Finish hockey player, American skier elected to IOC Athletes' Commission members

(ATTN: ADDS details, comments)

PYEONGCHANG -- Emma Terho of Finland and Kikkan Randall of the United States were elected to the International Olympic Committee (IOC) Athletes' Commission by their peers competing at the PyeongChang Winter Olympics on Thursday.

The IOC Election Committee said Terho, former ice hockey player, and Randall, an American cross-country skier, will serve as members of the IOC Athletes' Commission for eight years. Their membership will be officially confirmed at the IOC Session in PyeongChang, 180 kilometers east of Seoul, on Sunday.

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(LEAD) S. Korea to decide scope of financial aid for GM after audit

(ATTN: ADDS finance minister's remarks in paras 7-8)

SEOUL -- South Korea plans to decide on the scope of its aid package for General Motors Co.'s Korean unit after looking into its financial situation and long-term investment plan to turn around its businesses here, government sources said Thursday.

GM said last week it will close its underutilized Gunsan factory in the country's southwest by May, saying it will decide the fate of its three other Korean factories after consulting with the Seoul government, shareholders and its labor union over restructuring plans and support measures.

The Detroit-based automaker proposed a $2.7 billion debt-for-equity swap and $2.8 billion in investment over the next 10 years in return for financial aid through the state-run Korea Development Bank (KDB), which holds a 17 percent stake in GM Korea, and other tax benefits.

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Samsung, Qualcomm join hands to produce chip for 5G mobile technology

SEOUL -- Samsung Electronics Co. said Thursday it will cooperate with Qualcomm Technologies Inc. to produce 7-nanometer chips for fifth-generation (5G) network service amid rising demand for semiconductors.

The two companies will expand their decade-long cooperation into Extreme Ultra Violet (EUV) lithography process technology, including the manufacture of future Qualcomm Snapdragon 5G mobile chipsets using Samsung's 7-nanometer Low Power Plus (LPP) EUV process technology, the South Korean tech giant said.

Samsung and Qualcomm have been maintaining close ties through foundry business in the production of 10 nm and 14 nm technologies. Foundry business refers to making chip designs for other companies that do not have a semiconductor fabrication plant.

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(LEAD) Ex-Park aide gets 2 1/2-year prison term in influence-peddling scandal

(ATTN: ADDS more info from 6th para)

SEOUL -- A Seoul court sentenced a former aide to ousted President Park Geun-hye to 2 1/2 years in prison Thursday in a corruption scandal that led to Park's removal from office early last year.

The Seoul Central District Court handed down the verdict to Woo Byung-woo, an ex-senior presidential secretary for civil affairs. Prosecutors demanded an eight-year imprisonment.

Woo, who held the post in the presidential office Cheong Wa Dae from 2015-2016, was indicted in April last year on charges of dereliction of duty, abuse of power and perjury.

(END)

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