ID :
24863
Thu, 10/16/2008 - 16:12
Auther :
Shortlink :
https://www.oananews.org//node/24863
The shortlink copeid
Yonhap News Summary
The following is the summary of major stories moved by Yonhap News Agency onm Thursday.
-----------------
(3rd LD) N. Korea threatens to sever all ties with S. Korea
SEOUL -- North Korea said Thursday that it would cut off all inter-Korean ties
unless the conservative South Korean government withdraws its "hostile policy"
towards Pyongyang.
"If the group of traitors keeps to the road of reckless confrontation with the
DPRK (North Korea), defaming its dignity despite its repeated warnings, this will
compel it to make a crucial decision including the total freeze of the
North-South relations," the Rodong Sinmun, published by the North's ruling
Workers' Party, in an English-version commentary carried by its official news
agency.
-----------------
IAEA dissatisfied with role in verifying N. Korean nuke
SEOUL -- The U.N. nuclear watchdog has expressed discontent over its projected
role in verifying North Korea's atomic weapons program, a South Korean government
official said Thursday.
International Atomic Energy Agency (IAEA) Director Mohamed ElBaradei delivered
the position to South Korea's Vice Foriegn Minister Kwon Jong-rak during their
meeting earlier this week at the agency's headquarters in Vienna, the official
said.
-----------------
No date set for next 6-way nuclear talks: State Dept.
WASHINGTON -- A date has not yet been set for the next round of six-party talks
on ending North Korea's nuclear ambitions, despite a recent breakthrough on
verification of North Korea's nuclear facilities, the State Department said
Wednesday.
"I don't have a date yet," spokesman Sean McCormack told a daily news briefing.
"I asked this before we came out here, and we do not have a date yet for the
meeting."
-----------------
Ex-Bush aide defends delisting as small gain despite loophole
WASHINGTON -- A U.S. expert on Korea Wednesday defended the Bush administration's
taking North Korea off its terrorism blacklist as a "small gain" despite
criticism of a loophole that may block inspectors' access to the North's
undeclared nuclear sites.
"I think it's a small gain by the Bush administration, but it's an important
gain, because the next administration, whether it's John McCain or Barack Obama,
they can pick up the process where it is," Victor Cha, director of Asian Studies
at Georgetown University, said in a lecture.
-----------------
(News Focus) Already-troubled inter-Korean ties risk being severed
SEOUL -- North Korea has signaled it may ditch all remaining economic cooperation
projects with South Korea, putting fragile inter-Korean ties in jeopardy.
The Rohdong Sinmun, published by the North's ruling Workers' Party, argued that
the conservative South Korean administration is continuing a policy of "reckless
confrontation" with Pyongyang and defaming its dignity.
-----------------
(LEAD) Seoul shares fall 9.44 pct on global recession woes
SEOUL -- South Korean stocks tumbled over 9 percent as investors dumped large-cap
shares, spooked by overnight plunges in the U.S. and growing concerns over a
global economic recession, analysts said. The won fell sharply against the U.S.
dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 126.5 points or 9.44
percent to 1,213.78, the largest singe-day percentage loss in over eight years.
Volume was heavy at 401.6 million shares worth 6.03 trillion won (US$4.39
billion), with losers outnumbering winners 813 to 61.
-----------------
(2nd LD) Korean won dips 9.7 pct vs dollar on recession woes
SEOUL -- The South Korean currency plunged nearly 10 percent against the U.S.
dollar on Thursday as offshore investors dumped local stocks on economic
recession woes, tracking overnight tumbles on Wall Street, dealers said.
The local currency closed at 1,373 won to the greenback, down 133.5 won, or 9.7
percent, from Wednesday and falling for the second straight session. It was the
biggest daily drop since Dec. 31, 1997 when the local currency sank by 145 won.
-----------------
S. Korea to issue US$5 bln in currency stabilization bonds
SEOUL -- South Korea's Finance Ministry said Thursday that it will next year
issue US$5 billion worth of foreign currency-denominated state bonds aimed at
stabilizing the local currency market.
The move comes after the ministry failed to issue foreign-exchange stabilization
bonds worth $1 billion last month amid worsening financial turmoil. It is higher
than the $4 billion in bonds that the nation issued in 1998 right after the
nation was hit by the Asia-wide financial meltdown.
-----------------
S. Korea poised to tackle currency effect on inflation
SEOUL -- South Korea's government will closely monitor the effect of a weaker
currency on inflation and take "preemptive" measures to stabilize prices if
necessary, a senior policymaker said Thursday.
"To prevent the global financial turmoil from hurting the real economy, the first
thing to do is to stabilize prices," Vice Finance Minister Kim Dong-soo told
reporters before a meeting with government officials. "The government will
closely monitor currency movements and take preemptive action against their
effects on consumer prices."
-----------------
(2nd LD) Financial turmoil to last until first half of 2009: regulator
SEOUL -- South Korea's top financial regulator said Thursday the current global
financial turmoil is likely to persist until the first half of next year, but
added the government will push to implement capital market deregulation as
planned.
"The global financial crisis is expected to continue for a considerable time.
South Korea's financial markets are also likely to face troubles until the first
half of next year," Jun Kwang-woo, chairman of the Financial Services Commission
(FSC), said during a parliamentary audit.
-----------------
(3rd LD) N. Korea threatens to sever all ties with S. Korea
SEOUL -- North Korea said Thursday that it would cut off all inter-Korean ties
unless the conservative South Korean government withdraws its "hostile policy"
towards Pyongyang.
"If the group of traitors keeps to the road of reckless confrontation with the
DPRK (North Korea), defaming its dignity despite its repeated warnings, this will
compel it to make a crucial decision including the total freeze of the
North-South relations," the Rodong Sinmun, published by the North's ruling
Workers' Party, in an English-version commentary carried by its official news
agency.
-----------------
IAEA dissatisfied with role in verifying N. Korean nuke
SEOUL -- The U.N. nuclear watchdog has expressed discontent over its projected
role in verifying North Korea's atomic weapons program, a South Korean government
official said Thursday.
International Atomic Energy Agency (IAEA) Director Mohamed ElBaradei delivered
the position to South Korea's Vice Foriegn Minister Kwon Jong-rak during their
meeting earlier this week at the agency's headquarters in Vienna, the official
said.
-----------------
No date set for next 6-way nuclear talks: State Dept.
WASHINGTON -- A date has not yet been set for the next round of six-party talks
on ending North Korea's nuclear ambitions, despite a recent breakthrough on
verification of North Korea's nuclear facilities, the State Department said
Wednesday.
"I don't have a date yet," spokesman Sean McCormack told a daily news briefing.
"I asked this before we came out here, and we do not have a date yet for the
meeting."
-----------------
Ex-Bush aide defends delisting as small gain despite loophole
WASHINGTON -- A U.S. expert on Korea Wednesday defended the Bush administration's
taking North Korea off its terrorism blacklist as a "small gain" despite
criticism of a loophole that may block inspectors' access to the North's
undeclared nuclear sites.
"I think it's a small gain by the Bush administration, but it's an important
gain, because the next administration, whether it's John McCain or Barack Obama,
they can pick up the process where it is," Victor Cha, director of Asian Studies
at Georgetown University, said in a lecture.
-----------------
(News Focus) Already-troubled inter-Korean ties risk being severed
SEOUL -- North Korea has signaled it may ditch all remaining economic cooperation
projects with South Korea, putting fragile inter-Korean ties in jeopardy.
The Rohdong Sinmun, published by the North's ruling Workers' Party, argued that
the conservative South Korean administration is continuing a policy of "reckless
confrontation" with Pyongyang and defaming its dignity.
-----------------
(LEAD) Seoul shares fall 9.44 pct on global recession woes
SEOUL -- South Korean stocks tumbled over 9 percent as investors dumped large-cap
shares, spooked by overnight plunges in the U.S. and growing concerns over a
global economic recession, analysts said. The won fell sharply against the U.S.
dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 126.5 points or 9.44
percent to 1,213.78, the largest singe-day percentage loss in over eight years.
Volume was heavy at 401.6 million shares worth 6.03 trillion won (US$4.39
billion), with losers outnumbering winners 813 to 61.
-----------------
(2nd LD) Korean won dips 9.7 pct vs dollar on recession woes
SEOUL -- The South Korean currency plunged nearly 10 percent against the U.S.
dollar on Thursday as offshore investors dumped local stocks on economic
recession woes, tracking overnight tumbles on Wall Street, dealers said.
The local currency closed at 1,373 won to the greenback, down 133.5 won, or 9.7
percent, from Wednesday and falling for the second straight session. It was the
biggest daily drop since Dec. 31, 1997 when the local currency sank by 145 won.
-----------------
S. Korea to issue US$5 bln in currency stabilization bonds
SEOUL -- South Korea's Finance Ministry said Thursday that it will next year
issue US$5 billion worth of foreign currency-denominated state bonds aimed at
stabilizing the local currency market.
The move comes after the ministry failed to issue foreign-exchange stabilization
bonds worth $1 billion last month amid worsening financial turmoil. It is higher
than the $4 billion in bonds that the nation issued in 1998 right after the
nation was hit by the Asia-wide financial meltdown.
-----------------
S. Korea poised to tackle currency effect on inflation
SEOUL -- South Korea's government will closely monitor the effect of a weaker
currency on inflation and take "preemptive" measures to stabilize prices if
necessary, a senior policymaker said Thursday.
"To prevent the global financial turmoil from hurting the real economy, the first
thing to do is to stabilize prices," Vice Finance Minister Kim Dong-soo told
reporters before a meeting with government officials. "The government will
closely monitor currency movements and take preemptive action against their
effects on consumer prices."
-----------------
(2nd LD) Financial turmoil to last until first half of 2009: regulator
SEOUL -- South Korea's top financial regulator said Thursday the current global
financial turmoil is likely to persist until the first half of next year, but
added the government will push to implement capital market deregulation as
planned.
"The global financial crisis is expected to continue for a considerable time.
South Korea's financial markets are also likely to face troubles until the first
half of next year," Jun Kwang-woo, chairman of the Financial Services Commission
(FSC), said during a parliamentary audit.
