Yonhap News Summary

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

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(LEAD) Seoul shares rebound on rate cut
SEOUL -- South Korean stocks jumped 3.87 percent Friday on expectations the
central bank's rate cut may help head off a deeper economic slump, analysts said.
The local currency inched up against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 42.27 points to
1,134.49, rebounding from an early 4.9 percent slide. Volume was heavy at 839
million shares worth 6.85 trillion won (US$5.15 billion), with gainers outpacing
losers 685 to 171.
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S. Korea's overseas investments surge on takeovers, energy projects
SEOUL -- South Korea's overseas investments jumped this year as companies stepped
up efforts on corporate takeovers and energy-development projects in foreign
countries, a government report showed Friday.
According to the report by the Finance Ministry, South Koreans' overseas
investments amounted to US$22.81 billion during the first nine months of this
year, up 52 percent from the same period a year earlier.
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(LEAD) S. Korea expects Obama to consider inter-Korean ties in engaging N. Korea
SEOUL -- South Korea expressed hopes Friday that Washington's incoming Obama
administration will engage North Korea in tandem with progress in inter-Korean
relations.
"As there will be a so-called 'synergy effect' when North Korea-U.S. talks are
pushed together with South-North Korean dialogue, I think South Korea and the U.S.
will have to coordinate a policy in such a direction," Foreign Minister Yu
Myung-hwan told his monthly press briefing.
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Powell says Obama will 'listen' to Seoul on N. Korea, trade agreement
SEOUL -- Former U.S. Secretary of State Colin Powell said Friday that the new
U.S. government would "listen" to Seoul in its dealings with North Korea and
other pending issues.
"President-elect Barack Obama is going to listen to what you think. He wants to
hear what your goals are," Powell said at a lecture here during his one-day stay.
"I am confident that he will send messages to nations around the world,
especially to South Korea, that the United States wants to work with you, wants
to have open, honest, and realistic dialogue with you."
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BOK to buy up to US$610.2 mln worth of bank bonds
SEOUL -- South Korea's central bank said Friday it will buy up to 800 billion won
(US$610.2 million) worth of bonds sold by commercial banks and other designated
agencies through its repurchase agreement transactions early next week.
Last week, the Bank of Korea (BOK) decided to include bank bonds and some special
debts as collateral for its open market operations in a bid to stabilize the
market.
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(LEAD) N. Korea seeks to join global space race
SEOUL -- North Korea said Friday the world's interest in "peaceful" development
and research of space is expanding and that it will step up efforts to join the
growing trend.
"Our republic has been exercising its rights fairly in the field of peaceful
expansion into and research of space and will advance more vigorously toward a
goal that we have already chosen and put forward," declared the Rodong Sinmun,
the North's most influential state-run newspaper.
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Seoul to pay 5 tln won for U.S. troop relocation: source
SEOUL -- South Korea has tentatively agreed with the U.S. to pay 5 trillion won
(US$3.7 billion), or about half of the estimated cost, to relocate frontline U.S.
troops stationed here, a government source said Friday.
U.S. troops from Seoul's Yongsan Garrison and frontline bases were scheduled to
be relocated to Pyeongtaek, 50 km south of Seoul, by 2012 as part of an overall
realignment of the bilateral military alliance.
(END)