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Yonhap News Summary

2018/10/31 13:59

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

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Ministry reaffirms two Koreas' commitment to summit accord despite delay in joint projects

SEOUL -- South Korea's unification ministry said Wednesday the two Koreas will keep working together to actively implement last month's summit agreement amid growing concerns about delayed cooperation projects.

"There have been high-level talks agreements between the two Koreas aimed at implementing the Pyongyang Declaration and things have progressed without a hitch in such areas as forestry and general-grade military meetings," Baik Tae-hyun, ministry spokesman, told a regular press briefing.

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(4th LD) Samsung Electronics Q3 net profit up 17.5 pct on-year

SEOUL -- Samsung Electronics Co. said Wednesday its third-quarter net profit moved up 17.5 percent from a year earlier on the back of the strong performance of its memory chip business, while the smartphone segment suffered a tumble.

Net profit came to 13.1 trillion won (US$11.5 billion) in the July-September period, compared with 11.1 trillion won posted a year earlier, the company said in a regulatory filing.

Operating profit advanced 20.9 percent over the cited period to reach 17.5 trillion won, hitting a new record.

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S. Korean firms' operating profit margin hits record high in 2017

SEOUL -- Brisk overseas sales of chips and petrochemicals steered South Korean companies to their biggest operating profit margin growth last year, with their sales growing at the fastest pace in six years, a central bank report showed Wednesday.

The combined operating profit to sales ratio of non-financial firms in the country rose 6.1 percent in 2017, up from 5.4 percent the previous year, according to the report from the Bank of Korea (BOK).

It was the largest on-year growth since 2009, when the central bank started to compile such data.

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Nippon Steel exec expressed intention in 2012 to accept ruling on forced labor: civic group

TOKYO -- An executive of the Japanese company that was ordered this week by South Korea's top court to pay compensation for wartime forced labor, expressed an intention to abide by such a ruling during a shareholders' meeting in 2012, a Japanese civic group said Wednesday.

Soichiro Sakuma, then a senior executive at Nippon Steel & Sumitomo Metal, was quoted as saying on June 26, 2012, "We should obey the law," in relation to a ruling by South Korea's Supreme Court.

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Ministry reaffirms two Koreas' commitment to summit accord despite delay in joint projects

SEOUL -- South Korea's unification ministry said Wednesday the two Koreas will keep working together to actively implement last month's summit agreement amid growing concerns about delayed cooperation projects.

"There have been high-level talks agreements between the two Koreas aimed at implementing the Pyongyang Declaration and things have progressed without a hitch in such areas as forestry and general-grade military meetings," Baik Tae-hyun, ministry spokesman, told a regular press briefing.

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(2nd LD) S. Korea, U.S. to launch working group on N. Korea

WASHINGTON/SEOUL -- South Korea and the United States have agreed to launch a working group to improve coordination on their joint approach to North Korea, the U.S. State Department said Tuesday.

The agreement was reached during a trip to Seoul this week by U.S. Special Representative for North Korea Stephen Biegun, according to the department's deputy spokesperson, Robert Palladino.

(END)

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