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Yonhap News Summary

2018/06/01 17:55

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

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Minister Kang to meet U.S. delegation tasked with summit preparations

SEOUL, -- South Korea's Foreign Minister Kang Kyung-wha will meet a U.S. delegation on Friday to discuss its recent talks with North Korea over a possible Washington-Pyongyang summit, her office said.

The delegation, led by U.S. Ambassador to the Philippines Sung Kim, will visit Kang's office in Seoul at 5:30 p.m. It includes Allison Hooker, a White House official on Korea, and Randall Schriver, assistant secretary of defense for East Asia.

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(LEAD) Seoul stocks end higher on bio, auto gains

SEOUL -- South Korean shares ended higher Friday, led by gains made by heavyweight bio and auto stocks, analysts said. The Korean won rose against the U.S. dollar.

The benchmark Korean Stock Price Index (KOSPI) added 15.95 points, or 0.66 percent, to finish at 2,438.96. Trade volume was relatively large at 596 million shares worth 8.6 trillion won (US$8 billion), with gainers outnumbering losers 415 to 407.

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(6th LD) N. Korea proposes holding joint events in South to mark 2000 summit

PANMUNJOM, Korea -- North Korea on Friday proposed holding joint events in South Korea to mark the anniversary of the two Koreas' first ever summit in 2000, a unification ministry official said.

South Korea also proposed opening a liaison office in the North Korean border city of Kaesong as the first step to implement the agreements reached by their leaders in the April 27 summit. The North shared the need to open such an office as soon as possible, according to the official.

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(LEAD) S. Korean defense minister in Singapore for security forum

SINGAPORE -- Asia's key defense forum will open in Singapore on Friday night at a time when regional security faces a potential turning point.

The North Korea issue is expected to dominate this year's Shangri-La Dialogue, although the communist nation is not joining it.

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(LEAD) Ex-Supreme Court chief denies suspicions of using trials for bargaining

SEOUL -- Former Supreme Court Chief Justice Yang Sung-tae on Friday disavowed involvement in the top court's alleged use of politically sensitive trials as bargaining chips in its dealings with the presidential office over organizational changes.

An internal Supreme Court probe revealed that the National Court Administration under the top court wrote a report in March 2015 on how to take advantage of high-profile cases in persuading senior presidential aides into supporting then-Chief Justice Yang's plan to establish a court of appeals.

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(2nd LD) Hyundai mulls investing in local car-manufacturing JV

SEOUL -- Hyundai Motor Co., South Korea's largest carmaker by sales, said Friday it is considering investing in a local car-manufacturing joint venture (JV) proposed by a municipal government.

The Gwangju city government seeks to establish a vehicle production JV to generate jobs and help support the local economy. The city proposed tax benefits to investors such as a 75 percent reduction in acquisition taxes and another 75 percent cut in income taxes for the first five years, Hyundai Motor said in a statement.

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Singapore testing security measures before N. Korea-U.S. summit

SINGAPORE -- North Korean Embassy cars were on standby at the underground parking lot of a Singapore hotel throughout Friday.

Reporters, mostly from South Korea and Japan, continued to stake out roads near the Fullerton Hotel, where North Korea's summit preparation team is staying, and its lobby.

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Hyundai Motor's May sales rise 5.7 pct on recovering demand

SEOUL -- Hyundai Motor Co., South Korea's top automaker, said Friday its May sales rose 5.7 percent from a year earlier on recovering demand for its vehicles.

Hyundai Motor sold 387,017 vehicles in May, up from 366,256 units a year earlier, helped by increased overseas sales, the company said in a statement.

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Korean won-denominated green bonds to go public next week

SEOUL -- The first Korean won-denominated green bonds will make their debut on the country's main stock market next week, the bourse operator said Friday.

As one of the financing options available to businesses and government entities, green bonds are meant to raise funds to support environmental projects and other eco-friendly infrastructure plans.

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U.S.-N. Korea summit email used to spread malware in S. Korea

SEOUL -- Emails with an attachment containing a malware virus have spread across South Korea by using the summit meeting between North Korea and the United States as a form of bait, U.S. networking company Cisco Systems said Friday.

The emails with an attached Hangul Word Processor (HWP) document, with the title translated in English as "prospect and preparations for U.S.-N.Korea summit," were sent to Naver Mail accounts, the email service of Naver Corp., South Korea's top Internet portal operator, the company said.

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