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Yonhap News Summary

2018/09/12 17:02

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

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Growth of household loans accelerates in August

SEOUL -- South Korea's on-month growth of household loans accelerated in August, data showed Wednesday, as the government is set to announce steps to curb surging property prices.

Outstanding household loans extended by the nation's financial institutions rose by 6.6 trillion won (US$5.86 billion) last month, compared with a monthly expansion of 5.6 trillion won in July, according to the data by the Financial Services Commission (FSC).

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Police question Korean Air chairman for using company money for home security

SEOUL -- Korean Air Chairman Cho Yang-ho appeared for police questioning Wednesday over allegations that he used company money to pay for security services at his home.

The chairman of the Hanjin Group faces breach of trust charges that he had a Hanjin subsidiary make a contract with a security firm and have security guards work at his home in Pyeongchang-dong, Seoul.

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(LEAD) Seoul stocks close lower on trade fears

SEOUL -- South Korean stocks inched down Wednesday as foreigners braced for the brewing trade tension and potential economic tumult in emerging markets. The Korean won firmed against the greenback.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.28 point, or 0.01 percent, to close at 2,282.92. Trade volume was moderate at 331.03 million shares worth 6.27 trillion won (US$5.56 billion), with losers beating winners 454 to 364.

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Putin calls S. Korea important partner in meeting with PM Lee

VLADIVOSTOK, Russia -- Russian President Vladimir Putin said Wednesday that South Korea is a very important partner and he's satisfied with the way relations between the two countries have moved forward.

Putin made the remark during a meeting with South Korean Prime Minister Lee Nak-yon on the sidelines of the Eastern Economic Forum in Russia's Far East city of Vladivostok, noting steady increases in trade and economic cooperation between the two countries, according to South Korean officials.

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(LEAD) Samsung exec sees no changes in demand for DRAM chips this year

SEOUL -- A senior executive of South Korean tech giant Samsung Electronics Co. said Wednesday that he expects no major changes in demand for dynamic random access memory (DRAM) chips this year.

"There will be no big changes in demand for DRAM chips at least until the fourth quarter of this year," Samsung Electronics President Kim Ki-nam, who is in charge of the device solutions division, told reporters on the sidelines of a forum held at a Samsung building in southern Seoul.

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