Yonhap News Summary

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

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Seoul shares up on Wall Street gains
SEOUL -- South Korean stocks gained moderately late Friday morning, moving in
line with overnight U.S. gains, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 8.83 points, or
0.81 percent, to 1,093.55 as of 11:20 a.m.
"Foreign investors are continuing to shore up the market for the
fourth-consecutive session on the back of overnight Wall Street gains and
confidence from rate cuts and the (recently announced) currency swap
arrangement," said Song Young-geun, an analyst at Dongbu Securities.
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S. Korean currency dips to U.S. dollar
SEOUL -- South Korea's currency plunged against the dollar Friday for the first
time in three days following the previous session's surge triggered by a currency
swap deal with the U.S., dealers said.
The local currency was trading at 1,283.3 won as of 9:22 a.m., down 33.3 won from
the previous session's close, after dipping as low as 1,290 won at one point.
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Currency swap deal to help stabilize market: official
SEOUL -- The currency swap deal between South Korea and the United States will
help stabilize the local foreign exchange market that has fluctuated sharply in
recent weeks, a finance ministry official said Friday.
The U.S. Federal Reserve announced Wednesday that it will sign a currency swap
arrangement of up to US$30 billion with each of the central banks of South Korea,
Mexico, Brazil and Singapore to improve their dollar liquidity.
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Seoul to ship steel to N.K. after nuke verification agreement
SEOUL -- South Korea will likely postpone steel shipments to North Korea until
agreement is reached at upcoming six-party nuclear disarmament talks on a
protocol to verify the communist state's nuclear declaration, government sources
said Friday.
The South had planned to ship a total of 3,000 tons of steel pipe by the end of
this month as pledged to the North.
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U.S. thanks S. Korea for Zaytun's contribution to Iraqi stabilization
WASHINGTON -- The United States Thursday thanked South Korea for the contribution
its troops have made to the stabilization of Iraq as part of the U.S.-led war.
"We appreciate the great work of the Koreans in Iraq," said Gordon Johndroe,
spokesman for the White House National Security Council. "Now, many forces are
able to return to their home countries because of the improved security situation
on the ground as well as the growing capacity of the Iraqi security forces."
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S. Korea asked to up contribution to Afghanistan: official
WASHINGTON -- The United States has asked South Korea to provide "training,
equipment and financial assistance" to help promote stability in Afghanistan
where the Taliban insurgents are gaining strength, a State Department official
said Thursday.
The official, requesting anonymity, would not elaborate, but South Korean
officials have said the U.S. has asked for police officers to train Afghan police
forces.
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