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Yonhap News Summary

2018/06/29 13:30

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

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(2nd LD) U.S. Forces Korea opens new headquarters in Pyeongtaek

PYEONGTAEK -- The U.S. Forces Korea (USFK) opened its new headquarters in Pyeongtaek, south of Seoul, on Friday, in a relocation project likely to broaden its security role long circumscribed by deterrence against North Korea.

The USFK held a ceremony to celebrate the relocation from Yongsan, central Seoul, to Camp Humphreys, a sprawling complex about 70 kilometers south of the capital, after a delay caused by residents' protests, budgetary issues and massive construction work to prevent floods.

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Trump says won't rush negotiations with N. Korea

WASHINGTON -- U.S. President Donald Trump has said he won't rush negotiations with North Korea to dismantle its nuclear weapons program, comparing the process to cooking a turkey.

Speaking late Wednesday at a rally in Fargo, North Dakota, Trump touted his historic summit with North Korean leader Kim Jong-un that yielded a commitment to work towards "complete denuclearization" of the Korean Peninsula.

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Gov't to seek revision of Refugee Act to prevent abuse by fake asylum seekers

SEOUL -- The Justice Ministry said Friday it will seek to revise the Refugee Act to prevent fake asylum seekers from abusing the system and take steps to handle refugee applications much more quickly to screen out bogus claimants.

The measures came amid growing anti-refugee sentiment in South Korea sparked by the arrivals in recent months of more than 500 Yemeni asylum seekers on the southern resort island of Jeju under a no-visa program aimed at promoting tourism.

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(2nd LD) Jailed Lotte chief fends off elder brother's leadership challenge

SEOUL/TOKYO -- The jailed head of South Korean conglomerate Lotte won the support of Japanese shareholders in a vote on Friday to keep his seat in the boardroom of a crucial affiliate in the group's governance structure, cementing his grip on the retail giant from behind bars.

Lotte Holdings Co., holding firm for Lotte's Japanese affiliates which also has major stakes in the group's Korean units, rejected the motion to dismiss Shin Dong-bin as a board member during its regular shareholders' meeting at its headquarters in Tokyo, according to Lotte Corp., the group's Korean holding company.

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(3rd LD) LG heir approved by holding firm as part of leadership transition

SEOUL -- Koo Kwang-mo, the son of LG Group's late Chairman Koo Bon-moo, became a new member of a holding firm's board and was appointed as its CEO on Friday, effectively becoming the fourth-generation leader of the family-controlled conglomerate.

Koo, who was adopted by the late business tycoon in line with the LG family's tradition of handing over power to the chairman's eldest son, was named the newest board member during Friday's shareholders' meeting of LG Corp. He was designated as the CEO by the board earlier in the day.

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Listed firms forecast to report disappointing Q2 profits: data

SEOUL -- Listed firms are forecast to report lower-than-expected operating profits for the second quarter, a poll showed Friday, dashing hopes for a stock market turnaround.

A total of 132 companies listed on the benchmark KOSPI market are expected to post a combined 46.27 trillion won (US$41.29 billion) in operating profits for the April-June period, according to a poll by local marketing research firm, FN Guide.

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(World Cup) S. Korea finish in 19th place

SEOUL -- Eliminated in the group stage, South Korea finished the 2018 FIFA World Cup in 19th place.

Following the conclusion of all group play on Thursday, South Korea came in at 19th place out of 32 participants, third best among those who didn't make it to the round of 16.

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BTS makes it on TIME's '25 Most Influential People on the Internet'

   SEOUL -- South Korean boy band BTS has been named among the U.S. TIME magazine's "25 Most Influential People on the Internet" for 2018.

TIME released its annual list Thursday (U.S. time) based on "their global impact on social media and their overall ability to drive news."

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