Yonhap News Summary

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

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S. Korean currency tumbles against dollar on stock sales
SEOUL -- The South Korean currency plunged against the U.S. dollar in early
trading Thursday on escalating concerns over a global recession, flirting with
the 1,500-won level, dealers said.
The local currency was trading at 1,486.05 won to the greenback as of 9:27 a.m.,
down 39.55 won or 2.6 percent from the previous session's close, after starting
at 1,500 won.
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Seoul shares fall 4.34 pct on U.S. losses
SEOUL -- South Korean stocks tumbled 4.34 percent late Thursday morning as
overnight Wall Street plunges triggered a selling spree, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) nosedived 44.17 points to
977.19 as of 11:20 a.m. The Korea Exchange, the bourse operator, suspended
program trading early on for five minutes after the main index futures prices
fell more than 5 percent.
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S. Korea forecast to post single-digit export growth in 2009
SEOUL -- South Korea's export growth is likely to slow to single digits next year
as fears of a prolonged global recession sap demand for the nation's cars,
semiconductors and ships, a survey showed Thursday.
The survey of 10 major overseas offices of the state-run Korea Trade and
Investment Promotion Agency, conducted by Yonhap News Agency, found the nation's
major export destinations have grown markedly pessimistic as the U.S.-sparked
financial crisis is rippling through the rest of the world.
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Bush to meet Lee on N. Korean nuclear issue: officials
WASHINGTON -- U.S. President George W. Bush will meet bilaterally with South
Korean President Lee Myung-bak and Chinese and Japanese leaders in Lima on the
margins of the Asia Pacific Economic Cooperation forum later this week to discuss
North Korea's nuclear ambitions, officials here said Wednesday.
"He will have bilateral meetings with both the president of the Republic of Korea
as well as with the prime minister of Japan," a senior official said in a
background briefing on Bush's attendance at the annual APEC forum in the capital
of Peru.
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(LEAD) S. Korea, Brazil agree to broaden economic cooperation
BRASILIA -- South Korean President Lee Myung-bak and Brazilian President Luiz
Inacio Lula da Silva agreed to closely cooperate in combating the global economic
crisis and widen bilateral economic and commercial exchanges during their summit
talks in Brasilia on Wednesday, aides for Lee said.
Lee and Lula both attended the Group of 20 summit in Washington, D.C., last week,
along with leaders of advanced and key emerging economies to tackle the worst
worldwide economic crisis since the Great Depression of the 1930s.
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Unionists shelve strike as management agrees to consult before downsizing
SEOUL, -- Unionized workers at Seoul City's railway system dropped strike plans
Thursday after the management agreed not to pursue downsizing unilaterally.
The deal was struck about one hour before the union of Seoul Metro was to strike
as of 4 a.m., a union spokesman said.
(END)