Yonhap News Summary

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

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U.S. needs to cooperate with S. Korea for N.K. nuke retrieval: US official
WASHINGTON -- The nominee for U.S. deputy secretary of defense has called for
closer cooperation with South Korea over the nuclear threat from North Korea,
including safe retrieval of North Korea's nuclear weapons in case of the North's
collapse.
"In the event of a DPRK collapse, the U.S. would need to work closely with the
ROK to rapidly and safely secure loose nuclear weapons and materials," William
Lynn, deputy secretary of defense-designate, said in written answers as part of a
Senate Arms Committee confirmation hearing, according to a transcript posted on
the Senate Web site. The hearing was held Thursday.
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S. Korean nuke envoy set to end trip to N. Korea
SEOUL -- A South Korean nuclear envoy and team of experts will end a rare trip to
North Korea later Monday, the foreign ministry said.
The six-member team, led by Seoul's deputy chief nuclear negotiator Hwang
Joon-kook, departed for the North last Thursday to discuss the discarding of
unused fuel rods as part of the reclusive nation's disablement of its main
nuclear complex.
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(LEAD) S. Korea, EU launch high-level free trade talks
SEOUL -- Trade ministers from South Korea and the European Union (EU) started
their two-day meeting Monday to iron out divisive issues related to a free trade
deal.
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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Presidential office says five ministers will be replaced
SEOUL -- Seoul's presidential office will announce on Monday the nominees for
five ministerial-level government posts and 15 vice ministers, an official said.
The presidential office "will announce at 2 p.m. the nominees for five
ministerial and 15 vice-ministerial posts," the official at the presidential
office Cheong Wa Dae told reporters.
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BOK to supply US$3 bln to local banks
SEOUL -- South Korea's central bank said Monday it plans to provide US$3 billion
to local banks suffering from a dollar liquidity crunch in the wake of the
U.S.-sparked global financial turmoil.
The Bank of Korea (BOK) said the money is part of a $30 billion currency swap
agreement which it signed with the U.S. Federal Reserve in late October. The BOK
has tapped $13.35 billion out of the swap line so far.
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(LEAD) S. Korea names army commander to head unit supporting U.S. base relocation
SEOUL -- A South Korean army corps deputy commander was appointed Monday to head
a key unit supporting the relocation of U.S. forces here, a spokesman said,
following a scandal that forced his predecessor to resign.
About 28,500 U.S. troops are stationed in South Korea as a deterrent against
North Korea -- a legacy of the 1950-53 Korean War. As part of its global
realignment plan, the U.S. Forces Korea (USFK) is working to move most of its
frontline bases to south of Seoul.
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Samsung's heir apparent excluded from annual promotion
SEOUL -- Lee Jae-yong, the only son of former Samsung Group chairman Lee Kun-hee,
was excluded from an annual promotion of executive officials at Samsung
Electronics Co., the group said Monday,
Samsung Electronics didn't promote the junior Lee, who is serving as senior vice
president at the world's largest maker of computer memory chips, by one level to
vice president because his term in the current post isn't finished, the group
said in a statement.
(END)

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