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Yonhap News Summary

2018/09/05 13:23

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

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Main opposition party says now is not time to ratify April summit deal

SEOUL -- The floor leader of the main opposition party said Wednesday that now is not the time to push for parliamentary ratification of the April inter-Korean summit deal, citing a lack of North Korea's sincerity toward denuclearization.

Kim Sung-tae of the Liberty Korea Party (LKP) delivered a speech at the National Assembly, which began its 100-day regular session Monday.

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(LEAD) Moon, Trump to meet at U.N. this month: White House

WASHINGTON -- South Korean President Moon Jae-in and U.S. President Donald Trump agreed Tuesday to meet during the United Nations General Assembly in New York this month, the White House said.

The leaders spoke by phone ahead of Wednesday's planned trip to Pyongyang by a South Korean government delegation headed by Moon's chief national security aide, Chung Eui-yong.

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Retailers' mass stock buying spikes this year

SEOUL -- The number of orders South Korean retail investors placed for local shares worth 100 million won (US$89.686) at one time jumped this year on the back of their growing appetite for biopharmaceuticals, data showed Wednesday.

According to the Korea Exchange (KRX), 16,283 such mass stock purchases by retailers took place on the main KOSPI market during the first eight months of this year, up 72.34 percent from the same period of 2017.

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S. Korea's FX reserves retreat for first time in 6 months

SEOUL -- South Korea's foreign currency reserves lost ground for the first time in six months in August on the strengthening U.S. dollar, central bank data showed Wednesday.

The total value of the country's foreign exchange reserves came to US$401.13 billion last month, down from an all-time high of $402.45 billion in July, according to the Bank of Korea (BOK).

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Aide stole letter from Trump to stop withdrawal from Korea trade deal: report

WASHINGTON -- A former senior adviser to U.S. President Donald Trump removed a document from the president's desk to stop him from signing off on withdrawing the United States from a trade deal with South Korea, a news report citing an unpublished book said Tuesday.

Bob Woodward, a Washington Post journalist known for his investigative reporting on the Watergate scandal, wrote up the anecdote in his new book, "Fear," set for release next week, the paper said.

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S. Korea sees economic dependence on big firms deepen

SEOUL -- South Korea's dependence on large companies for economic growth deepened in 2017, with global tech giant Samsung Electronics Co. alone accounting for nearly 15 percent of its gross domestic product (GDP), a corporate tracker said Wednesday.

The combined sales of Samsung and the nine other largest companies by turnover came to US$677.8 billion last year, or 44.2 percent of South Korea's GDP tallied at $1.53 trillion, according to CEO Score.

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BTS' new song 'Idol' lands at 11th on Billboard Hot 100

SEOUL -- Legend-building K-pop boy band BTS' new song "Idol" landed in the 11th spot on the Billboard Hot 100, hitting the chart again following their previous single three months earlier.

The digital single version of "Idol" featuring American pop icon Nicki Minaj debuted at No. 11 on the Billboard Hot 100, Billboard said Wednesday (Korean time) on its website, one day before uploading the chart.

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Seoul stocks down late Wednesday morning

SEOUL -- South Korean stocks traded lower late Wednesday morning as institutional investors offloaded large-cap tech and financial shares.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.81 points, or 0.12 percent, to 2,312.91 as of 11:20 a.m.

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