Yonhap News Summary

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

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(Yonhap Interview) Renegotiation of KORUS FTA not sensible: trade minister
SEOUL -- South Korea's top trade official said Friday renegotiation of a free
trade agreement with the United States would not be sensible, rejecting possible
demand to amend the deal by the new administration of President-elect Barack
Obama.
Obama, a Democrat, has said he favors free trade that benefits the United States,
but has strongly criticized the deal with South Korea, known as the KORUS FTA,
saying it does not adequately address an imbalance in auto trade.
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(3rd LD) Samsung shakes up executive ranks to fight economic crisis
SEOUL -- Samsung Group said Friday it has promoted or replaced 25 chief
executives at its affiliates and reorganized its flagship Samsung Electronics Co.
into two major business divisions, in a sweeping management reshuffle intended to
fight off the global economic crisis.
Samsung Electronics, the crown jewel of South Korea's largest business
conglomerate, has been hurt by sinking global demand for semiconductors and
flat-panel televisions amid the financial turbulence.
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CIA list confirms N. Korean cabinet shakeup
SEOUL -- The U.S. Central Intelligence Agency has released its latest list of
North Korean cabinet members which confirmed a shakeup of the country's
industrial ministers, its Web site showed.
Seoul's Unification Ministry said last week North Korea reshuffled five
industry-related ministers late last year. The shakeup coincided with North
Korea's new year economic drive to rebuild the country's frail industrial
infrastructure and solve chronic food shortages.
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(LEAD) S. Korea's Jeju Island to build 'black pig' farm in Pyongyang
SEOUL -- South Korea's Jeju Island will send equipment to build a pig farm in
Pyongyang on Friday to raise the island's local specialty, black pigs, officials
said.
Black pigs, or "heuk-doe-ji" in Korean, are native to the semi-tropical island.
They are covered in black hair, and the meat is popular for being chewy and rich
in nutrients.
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S. Korean, Japanese foreign ministers to meet next month
SEOUL -- South Korean and Japanese foreign ministers will hold talks here next
month to follow up on the latest summit agreement by their leaders, a Seoul
government official said Friday.
"Japanese Foreign Minister Hirofumi Nakasone suggested a two-day trip to South
Korea around Feb. 11 for a meeting with Foreign Minister Yu Myung-hwan," a
foreign ministry official said, asking not to be named. "The two sides are in
consultations to set a date."
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(LEAD) S. Korean army officer convicted in N. Korean sex-for-secrets scandal
SEOUL -- A South Korean army officer has been sentenced to three and a half years
in military prison for aiding a North Korean spy in a sex-for-secrets scandal
last year, an official said Friday.
The 27-year-old first lieutenant, identified only by his last name Hwang, was
arrested in July on charges of supplying classified information to North Korean
spy Won Jeong-hwa while being aware of her identity.
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S. Korea, EU to hold high-level free trade talks next week
SEOUL -- Trade ministers from South Korea and the European Union (EU) will meet
in Seoul next week to iron out divisive issues related to a free trade deal,
officials said Friday.
Since signing a free trade agreement (FTA) with the United States in 2007, South
Korea has held seven rounds of negotiations with the EU in a bid to gain greater
footing in the 27-nation economic bloc, South Korea's second-largest trading
partner after China.
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(LEAD) Seoul shares end 2.15 pct higher on tech, financial gains
SEOUL, -- South Korean stocks closed 2.15 percent higher Friday as investors
snapped up tech and financial shares following a plunge in the key index the
previous session, analysts said. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 23.86 points to
1,135.2. Volume was moderate at 331.2 million shares worth 4.03 trillion won
(US$2.95 billion), with gainers outpacing losers 579 to 235.
(END)