Yonhap News Summary

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

-----------------
S. Korea calls for dialogue with N. Korea on suspended tour
SEOUL -- South Korea expressed hopes Monday for the resumption of cross-border
tours to Mount Geumgang on North Korea's eastern coast as the two sides mark a
gloomy anniversary this week of the launch of the now-suspended business.
A ferry carrying South Korean tourists set historic sail toward the scenic
mountain on Nov. 18 a decade ago as a token of burgeoning inter-Korean
reconciliation.
-----------------
Crew held by Somali pirates are safe: S. Korea
SEOUL -- South Korea said Monday it has confirmed the safety of all the crew
members abducted by gunmen off the coast of Somalia over the weekend.
Five South Koreans and 18 Filipinos were abducted on Saturday when their
20,000-ton cargo ship was seized by a group of pirates, according to the foreign
ministry.
-----------------
(LEAD) Seoul shares end 0.91 pct lower on U.S. losses
SEOUL -- South Korean stocks closed 0.91 percent lower Monday as export-oriented
shares took a beating from Wall Street losses in the previous session, analysts
said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 9.94 points to
1,078.32. Volume was moderate at 406.5 million shares worth 4.74 trillion won
(US$3.36 billion). Losers outnumbered gainers 425 to 389.
-----------------
(LEAD) BOK to buy 1 tln won in state bonds to calm market
SEOUL -- South Korea's central bank said Monday it will buy 1 trillion won
(US$709.7 million) worth of government bonds from banks and other financial
institutions with no strings attached in a bid to stabilize the debt market.
The Bank of Korea (BOK) usually buys financial institutions' bond holdings or
sells its own bond holdings to them via repurchase agreements, which require the
institutions to repurchase or resell them at a later date.
-----------------
Seoul promotes Japanese biz investment to reduce trade deficit
SEOUL -- South Korea's government said Monday it is supporting a business
investment tour to Japan to help reduce Korea's mounting trade deficit with the
neighbor.
The five-day-long tour that began earlier in the day is designed to get Japanese
parts and materials manufacturers to come to South Korea's free economic zones
(FEZ) and will highlight the advantages of investing in the country, the Ministry
of Knowledge Economy said.
-----------------
(LEAD) Lee pledges key role in new global economic order
SEOUL -- President Lee Myung-bak said on Monday that South Korea has an important
role to play in mediating between advanced and emerging economies in the ongoing
global effort to overcome the financial crisis and to establish a new economic
and financial order.
In his biweekly radio address, Lee also said his proposals for the prevention of
trade protectionism, the expansion of currency supply to emerging economy
countries and economic stimulation by means of fiscal expansion and tax cuts were
fully supported by leaders of the Group of 20 countries at their unprecedented
summit in Washington on Saturday.
-----------------
S. Korea, U.S. set for defense cost talks
SEOUL -- South Korea and the United States will try again to narrow differences
this week over how much Seoul should pay for the presence of American troops
here, officials said Monday.
The new round of talks, the fifth this year, will be held in Honolulu on Wednesday
and Thursday, focusing on setting South Korea's portion for the coming years and
changing the formula for its financial contributions, they added.
(END)