Yonhap News Summary

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

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(LEAD) Cheong Wa Dae welcomes Obama's election as U.S. president
SEOUL -- South Korea's presidential office, Cheong Wa Dae, on Wednesday welcomed
Barack Obama's election as new U.S. president.
"President Lee Myung-bak sent a congratulatory message to both Obama and his
running mate Joe Biden and expressed hope for further development of bilateral
relations between South Korea and the U.S.," Cheong Wa Dae said in a statement.
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(US Election) Obama win likely to widen N. Korea's footing in relations with Seoul
SEOUL -- The election of U.S. Democrat Barack Obama will likely widen North
Korea's footing in its campaign to push Seoul back to an engagement policy
pursued by his two liberal predecessors.
Obama has expressed his willingness to hold direct talks with North Korean leader
Kim Jong-il and called for the need to resolve Kim's nuclear arms ambitions
through peaceful dialogue.
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(US Election) Obama may offer N. Korea chance for 'Big Deal'
SEOUL -- North Korea, apparently nostalgic for the Clinton era, might be
emboldened by Barack Obama's election as U.S. president, but experts caution
Pyongyang against excessive optimism.
They point out that Obama's administration will pursue a policy of direct
engagement with the communist regime only when it complies with the ongoing
denuclearization process.
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(US Election) Obama likely to engage N. Korea aggressively, seek FTA adjustments
WASHINGTON -- The Barack Obama administration will likely engage North Korea more
intensively than the Bush administration while seeking adjustments for the
passage of a free trade deal with South Korea.
During the two-year presidential campaign, Obama has expressed on several
occasions his willingness to meet with North Korean leader Kim Jong-il, while his
Republican rival, John McCain, charged that such a meeting would legitimize the
dictatorship of the reclusive North Korean leader.
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(US Election) Obama win likely to harm S. Korea's bid for early FTA approval
SEOUL -- South Korea's push to ratify a free trade agreement (FTA) with the
United States by year's end is widely expected to face further hurdles following
Barack Obama's election as U.S. president.
Experts say chances for the trade bill's approval by the U.S. Congress may be
even slimmer, as outgoing U.S. President George W. Bush has been unsuccessful in
his efforts over the past year to convince the Democratic-controlled Congress to
pass the agreement. During the course of his campaign, Obama has repeatedly
expressed his opposition to the pending trade deal with Korea, citing an
imbalance in auto trade between the two nations.
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(US Election) Obama's win inspires hope for N. Koreans, immigrants in S. Korea
SEOUL -- Barack Obama's election as the first black U.S. president brought new
hope for change an ocean away in South Korea on Wednesday, inspiring migrant
workers and North Koreans looking to make greater inroads into this largely
homogeneous society.
"African-Americans were once slaves and were called 'talking beasts' in the U.S.
Now one of them has become the U.S. president," said Pastor Park Cheon-eung, the
Korean head of the Ansan Migrant Workers Center in southern Seoul.
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(US Election) N. Korea keeps mum on U.S. election results
SEOUL -- Barack Obama's landslide victory in the U.S. presidential election has
brought a deluge of congratulatory messages from around the world on Wednesday,
but not from North Korea.
The communist nation's media remained silent, hours after the president-elect
delivered a televised victory speech, while carrying routine attacks against U.S.
military moves. The North's state news agency relayed the powerful Rodong
Sinmun's commentary disparaging the U.S. deployment of refueling tanker and
high-altitude reconnaissance planes in Guam.
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(LEAD) (US Election) S. Korean businesses expect Obama to play 'central role' in
financial crisis
SEOUL -- South Korean businesses said Wednesday they expect U.S. president-elect
Barack Obama to play a "central role" in overcoming the global financial crisis.
"Mr. Obama's victory in the U.S. election was a result of U.S. voters' aspiration
for an early recovery from the global financial crisis and economic malaise," the
Federation of Korean Industries said in a statement immediately after the
Illinois senator was elected as America's first black president.
(END)