ID :
26492
Sat, 10/25/2008 - 13:58
Auther :
Shortlink :
https://www.oananews.org//node/26492
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Yonhap News Summary
The following is the first summary of major stories moved by Yonhap News Agency on Friday.
-----------------
Seoul shares tumble nearly 4.6 pct on economic, credit woes
SEOUL -- South Korean stocks nosedived almost 4.6 percent late Friday morning as
investor sentiment was severely dented by growing prospects over a global
recession and credit crunch woes, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) plummeted 47.82 points,
or 4.56 percent, to 1,001.89 as of 11:20 a.m.
-----------------
(LEAD) S. Korean won tumbles on slumping shares
SEOUL -- South Korea's currency tumbled against the U.S. dollar on Friday as
slumping stocks and continued sell-offs of local shares by offshore investors
worsened already-fragile investor sentiment, analysts said.
The local currency was trading at 1,436.3 won to the greenback as of 11 a.m.,
down 27.5 won from Thursday's close, reversing from an earlier strong start.
-----------------
Watchdog to limit usage of state-guaranteed foreign debts
SEOUL -- South Korea's financial watchdog said Friday local banks should reserve
their future state-guaranteed borrowing from abroad for rolling over maturing
foreign debts.
The government pledged Sunday to offer three-year guarantees of up to US$100
billion for foreign debts that local banks bring in between late October and June
of next year, and to inject $30 billion into dollar-starved lenders and
companies.
-----------------
(LEAD) East Asian countries agree to create $80 bln fund by next June
BEIJING -- South Korea, China, Japan and 10 member states of the Association of
Southeast Asian Nations (ASEAN) on Friday agreed to create an US$80 billion joint
fund by next June to fight a regional financial crisis, South Korean officials
said.
Meeting on the sidelines of the Asia-Europe Meeting (ASEM) summit that was to
kick off here later Friday, the leaders of the so-called ASEAN Plus Three
countries, including South Korean President Lee Myung-bak, also agreed to push
for the establishment of a regional economic surveillance organization to ensure
greater financial stability in the region, said the officials.
-----------------
(LEAD) Lee, Aso agree to resume shuttle summit diplomacy
BEIJING -- South Korean President Lee Myung-bak and Japanese Prime Minister Taro
Aso agreed on Friday to cooperate more closely to combat the global financial
crisis and accelerate the denuclearization of North Korea during their first
summit talks in Beijing, Lee's spokesman said.
Lee and Aso also agreed to pursue a "mature partnership" between South Korea and
Japan and resume bilateral shuttle summit diplomacy, long suspended following the
outbreak of bilateral territorial and historical conflicts earlier this year,
said presidential spokesman Lee Dong-kwan.
-----------------
(LEAD) UN agencies to release NK food assessment report in mid-November: WFP official
SEOUL -- While the size of North Korea's fall harvest for this year is uncertain,
the United Nations will come out with a specific estimate by the middle of next
month when the results of an ongoing food survey are due, a U.N. agency official
said Friday.
"It's a bit premature to be able to come about with a specific estimate on
agricultural production," said Jean-Pierre de Margerie, the World Food Program's
(WFP) country director for North Korea.
-----------------
U.S. mum on reported defection of senior N. Korean diplomat
WASHINGTON -- The United States declined Thursday to confirm or deny a report
that a senior North Korean diplomat has defected and seeks shelter in the United
States.
"We have no information on that," said Melanie Higgins, spokesperson for the
State Department's East Asian Affairs Bureau.
-----------------
S. Korea, U.S. seek package deal on defense cost sharing
SEOUL, Oct. 24 (Yonhap) -- The United States is demanding a 14.5 percent increase
in South Korea's annual financial contribution to the presence of American troops
here, despite Seoul's push for a single-digit hike, a diplomatic source said
Friday.
Officials from the two nations will try again to narrow differences during a new
round of talks slated for Oct. 29-30 in Seoul, the source added. They will be the
fourth such talks this year.
(END)
-----------------
Seoul shares tumble nearly 4.6 pct on economic, credit woes
SEOUL -- South Korean stocks nosedived almost 4.6 percent late Friday morning as
investor sentiment was severely dented by growing prospects over a global
recession and credit crunch woes, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) plummeted 47.82 points,
or 4.56 percent, to 1,001.89 as of 11:20 a.m.
-----------------
(LEAD) S. Korean won tumbles on slumping shares
SEOUL -- South Korea's currency tumbled against the U.S. dollar on Friday as
slumping stocks and continued sell-offs of local shares by offshore investors
worsened already-fragile investor sentiment, analysts said.
The local currency was trading at 1,436.3 won to the greenback as of 11 a.m.,
down 27.5 won from Thursday's close, reversing from an earlier strong start.
-----------------
Watchdog to limit usage of state-guaranteed foreign debts
SEOUL -- South Korea's financial watchdog said Friday local banks should reserve
their future state-guaranteed borrowing from abroad for rolling over maturing
foreign debts.
The government pledged Sunday to offer three-year guarantees of up to US$100
billion for foreign debts that local banks bring in between late October and June
of next year, and to inject $30 billion into dollar-starved lenders and
companies.
-----------------
(LEAD) East Asian countries agree to create $80 bln fund by next June
BEIJING -- South Korea, China, Japan and 10 member states of the Association of
Southeast Asian Nations (ASEAN) on Friday agreed to create an US$80 billion joint
fund by next June to fight a regional financial crisis, South Korean officials
said.
Meeting on the sidelines of the Asia-Europe Meeting (ASEM) summit that was to
kick off here later Friday, the leaders of the so-called ASEAN Plus Three
countries, including South Korean President Lee Myung-bak, also agreed to push
for the establishment of a regional economic surveillance organization to ensure
greater financial stability in the region, said the officials.
-----------------
(LEAD) Lee, Aso agree to resume shuttle summit diplomacy
BEIJING -- South Korean President Lee Myung-bak and Japanese Prime Minister Taro
Aso agreed on Friday to cooperate more closely to combat the global financial
crisis and accelerate the denuclearization of North Korea during their first
summit talks in Beijing, Lee's spokesman said.
Lee and Aso also agreed to pursue a "mature partnership" between South Korea and
Japan and resume bilateral shuttle summit diplomacy, long suspended following the
outbreak of bilateral territorial and historical conflicts earlier this year,
said presidential spokesman Lee Dong-kwan.
-----------------
(LEAD) UN agencies to release NK food assessment report in mid-November: WFP official
SEOUL -- While the size of North Korea's fall harvest for this year is uncertain,
the United Nations will come out with a specific estimate by the middle of next
month when the results of an ongoing food survey are due, a U.N. agency official
said Friday.
"It's a bit premature to be able to come about with a specific estimate on
agricultural production," said Jean-Pierre de Margerie, the World Food Program's
(WFP) country director for North Korea.
-----------------
U.S. mum on reported defection of senior N. Korean diplomat
WASHINGTON -- The United States declined Thursday to confirm or deny a report
that a senior North Korean diplomat has defected and seeks shelter in the United
States.
"We have no information on that," said Melanie Higgins, spokesperson for the
State Department's East Asian Affairs Bureau.
-----------------
S. Korea, U.S. seek package deal on defense cost sharing
SEOUL, Oct. 24 (Yonhap) -- The United States is demanding a 14.5 percent increase
in South Korea's annual financial contribution to the presence of American troops
here, despite Seoul's push for a single-digit hike, a diplomatic source said
Friday.
Officials from the two nations will try again to narrow differences during a new
round of talks slated for Oct. 29-30 in Seoul, the source added. They will be the
fourth such talks this year.
(END)
