Yonhap News Summary

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

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Seoul shares up on bargain hunting
SEOUL -- South Korean stocks gained ground late Tuesday morning, reversing
earlier losses, after bargain hunters picked up exporters and other blue chips
following recent steep losses, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.91 points, or 0.73
percent, to 953.36 as of 11:20 a.m.
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S. Korea weighs additional stimulus measures
SEOUL -- South Korea said Tuesday that it will announce additional stimulus
measures, including tax cuts and expanded fiscal spending, to boost sluggish
domestic demand amid prolonged financial turbulence.
The Finance Ministry said that it is considering bringing up the schedule of
planned income, corporate and real-estate tax cuts and increasing budget spending
for next year by around 5 trillion won (US$3.3 billion).
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S. Korea eyes communication with foreign media to prevent misunderstanding
SEOUL -- South Korea said Tuesday it will enhance its communication with foreign
media to stave off misunderstanding amid growing concerns over the health of its
financial market and economy.
The ministry has recently been frequently forced to dispute foreign media reports
which have claimed that South Korea is embroiled in the worst financial crisis in
a decade and might seek bailout from the International Monetary Fund to save its
economy.
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N.K. delegation to visit New York for seminar: State Dept.
WASHINGTON -- A North Korean delegation will visit New York for a seminar soon
early next month, but it is not clear whether North Korean delegates will meet
with U.S. officials there, the U.S. State Department said Monday.
"We understand that a delegation from North Korea will travel to the U.S. later
this fall for meetings with U.S. NGOs," the department said in a statement,
referring to nongovernmental organizations. "State Department participation in
the meetings has not been determined at this time."
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Hill, Saiki to meet over energy aid to N. Korea: State Dept.
WASHINGTON -- Chief U.S. and Japanese nuclear negotiators will get together here
Tuesday to discuss Japan's participation in the provision of energy aid to North
Korea as part of a multilateral nuclear deal, the State Department said Monday.
Christopher Hill, assistant secretary of state, will meet with his Japanese
counterpart, Akitaka Saiki, and "talk about, touch on heavy fuel and making sure
that the six parties in some way, shape or form meet their obligations and, as
well as how to move the process forward," spokesman Sean McCormack said in a
daily news briefing.
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(LEAD) S. Korea, EU likely to sign free trade agreement this year: EU official
SEOUL -- South Korea and the European Union (EU) are expected to reach a free
trade agreement (FTA) within the year, as the two sides have narrowed differences
on all major sticking points, a senior EU official said Tuesday.
"We have had clear information (from South Korea) that we will come to an end to
the free trade agreement before the end of 2008," Hubert Pirker, chairman of the
European Parliament's foreign affairs committee, told a press conference here.
(END)

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