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Yonhap News Summary

2018/11/06 17:25

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

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Presidential chief of staff's DMZ visit debated during parliamentary audit

SEOUL -- Rival parties on Tuesday clashed over a visit by the presidential chief of staff to the Demilitarized Zone (DMZ) at the border with North Korea while President Moon Jae-in was on a visit to Europe last month.

In the midst of Moon's nine-day trip to Europe, Presidential Chief of Staff Im Jong-seok visited the DMZ on Oct. 17 to take a first-hand look at mine-removing operations that the two Koreas were undertaking.

Lim is serving as the head of the presidential committee in charge of enforcing inter-Korean summit agreements, which includes the demining operations at the border.

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S. Korea's exports expected to surpass US$600 bln this year

SEOUL -- South Korea's exports are expected to exceed US$600 billion for the first time this year, thanks to robust global demand for the nation's goods, a report showed Tuesday.

The report by state-run Export-Import Bank of Korea forecast that exports will rise some 9 percent on-year in the fourth quarter of 2018.

Exports are helping to revive South Korea's economy, which grew 2 percent over the third quarter, marking the slowest on-year growth since the third quarter of 2009.

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Hyundai mulls launching high-performance N Brand in China

SEOUL -- Hyundai Motor Co., South Korea's biggest carmaker by sales, said Tuesday that it is considering launching its high-performance N Brand vehicle in China in the latest move to boost its presence in the world's biggest automobile market.

Hyundai Motor said there are new opportunities in China, a fast growing market for performance cars.

"I believe we can announce an N car launch plan for the Chinese market in a few months," Thomas Schemera, executive vice president in charge of product planning and strategic division at Hyundai Motor, said as he introduced N Brand at the China International Import Expo in Shanghai.

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S. Korea discovers 2 additional sets of Korean War remains in DMZ

SEOUL -- South Korea has found two additional sets of Korean War remains during its demining and road construction work in a notorious battle site inside the Demilitarized Zone (DMZ), Seoul's defense ministry said Tuesday.

The ministry's Agency for KIA Recovery and Identification retrieved human bones, a fibula on Oct. 29 and a tibia on Monday, from Arrowhead Ridge, or Hill 281, which was a site of fierce battles during the 1950-53 Cold War conflict. KIA stands for "killed in action."

  

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S. Korea welcomes U.S. exemption on Iranian oil imports

SEOUL -- South Korea's trade ministry on Tuesday welcomed the United States granting it a temporary waiver on its Iranian crude oil purchases, vowing support for local companies to minimize the sanctions' impact on the local economy.

Washington has reinstated all Iranian sanctions removed under the 2016 nuclear deal but allowed eight countries to continue to buy Iranian oil over the next six months. South Korea, the third-largest buyer of Iranian oil following China and India, made the list.

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Asiana Q3 net jumps 181 percent on reduced debt

SEOUL -- Asiana Airlines Inc., South Korea's second-largest airline by sales, said Tuesday its third-quarter net profit skyrocketed 181 percent on improved financial status.

Net profit in the July-September period came to 47.8 billion won (US$42.5 million), up from 17 billion won a year earlier on a consolidated basis, the company said in a statement.

Operating profit fell 15 percent to 101 billion won, while sales increased 14 percent to 1.85 trillion won over the cited period.

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(LEAD) Allies expected to open 'working group' after New York talks with N. Korea

SEOUL -- South Korea's top envoy on the denuclearization of North Korea will likely travel to the United States soon after its high-level talks with North Korea in New York later this week, officials here said Tuesday.

Secretary of State Mike Pompeo plans to meet with Kim Yong-chol, a close aide to the North's leader Kim Jong-un, on Thursday, their first direct talks in half a year.

Pompeo will be accompanied by Special Representative for North Korea Stephen Biegun.

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