Yonhap News Summary

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

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Russian FM to visit Pyongyang amid growing regional tensions
SEOUL -- Russian Foreign Minister Sergey Lavrov will visit Pyongyang this week, a
trip that may help the outside world understand North Korea's intentions behind
its renewed nuclear threats after a rocket launch early this month, diplomatic
sources here said Monday.

"He is expected to visit North Korea starting on April 22 or 23. The Russian
government is in final consultations with the North to fix the schedule," a
source said, asking not to be named. "The purpose of the trip is to discuss not
only the bilateral ties but also the aftermath of the rocket launch and the
six-way talks (on the North's nuclear program). The minister is likely to call
for the North to return to the talks."
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S. Korean, U.S. officials to meet on trade deal in May: report
WASHINGTON -- South Korean and U.S. officials will meet here next month to
discuss ratifying a pending bilateral free trade deal ahead of South Korean
President Lee Myung-bak's U.S. visit in June, a report said Sunday.
The Internet magazine "World Trade Online" quoted informed sources as saying the
two nations will "conduct a review of the bilateral free trade agreement in an
effort to prepare for a meaningful discussion of the FTA between presidents
Barack Obama and Lee Myung-bak in June when Lee visits the United States."
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(2nd LD) S. Korean economy to recover fastest among OECD nations: report
SEOUL -- South Korea's economy is expected to recover at the fastest pace among
the world's major countries as it shows signs of stabilization after output grew
and foreign liquidity expanded, a report showed Monday.
According to the report by the Organization for Economic Cooperation and
Development (OECD), the composite leading indicator (CLI) for South Korea
increased to 94.5 in February, up 1.6 points from 92.9 a month earlier.
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Duty drawback essential for EU trade deal: South Korean industry
SEOUL -- South Korea should not ease its demand that the European Union accept a
so-called "duty drawback" provision in talks on a free trade agreement, the head
of the nation's largest business lobby said Monday.
Duty drawback, which would allow South Korea to return import tariffs to its
companies that import raw materials from overseas to make goods for exports,
appears to be one of few remaining obstacles in a proposed free trade deal
between Seoul and Brussels.
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Reports of unfair stock market activity dip 29 pct in Q1
SEOUL -- South Korea's financial watchdog said Monday newly reported cases of
unfair stock market practices declined 29 percent on-year in the first quarter
due to its consistent supervision.
Cases of unfair stock market practices reported to the watchdog reached 44 in the
January-March period, compared with 62 a year earlier, according to the Financial
Supervisory Service.
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Banks mull rollover of GM Daewoo's currency forwards
SEOUL -- South Korean banks are considering rolling over the maturity of currency
forward contracts agreed with GM Daewoo Auto & Technology Co. as part of efforts
to ease its cash strains, sources said Monday.
GM Daewoo, the South Korean unit of beleaguered U.S. automaker General Motors
Corp., suffered about 1.5 trillion won (US$1.11 billion) in losses stemming from
currency options last year as the local currency tumbled 25.7 percent against the
U.S. dollar.
(END)