ID :
60785
Fri, 05/15/2009 - 16:17
Auther :
Shortlink :
https://www.oananews.org//node/60785
The shortlink copeid
Yonhap News Summary
Yonhap News Summary
The following is the second summary of major stories moved by Yonhap News Agency
on Friday.
-----------------
(LEAD) N. Korea scraps contracts with South on joint venture amid tension
SEOUL -- North Korea said Friday that all contracts with South Korea over a joint
industrial venture are no longer valid, accusing Seoul of being "insincere" in
negotiations and suggesting Pyongyang may even shut the complex down.
The warning came after days of negotiations to set up official talks ended with
no breakthrough at the joint complex in the North's border town of Kaesong.
-----------------
N. Korea likely to prolong threat of nuclear test: U.S. expert
SEOUL -- North Korea will likely play out its threat to conduct a second nuclear
test in order to draw the maximum amount of outside attention, possibly for
months, a U.S. expert said Friday.
"The longer they drag it out, the more people pay attention," Ralph Cossa, head
of the Honolulu-based Pacific Forum of the Center for Strategic and International
Studies (CSIS), said in an interview. "North Korea is not in any rush...probably,
by the summer."
-----------------
S. Korea's trade surplus tops US$9.7 bln this year
SEOUL -- South Korea's trade surplus reached US$9.7 billion this year as sinking
exports were more than offset by a sharper drop in imports, a government report
showed Friday.
The Korea Customs Service said the aggregate amount of products shipped abroad
this year as of Thursday hit US$115.5 billion, with imports reaching $105.8
billion.
-----------------
S. Korea to invest 950 bln won in state banks
SEOUL -- South Korea's government said Friday that it will invest 950 billion won
(US$755.7 billion) into four state-run financial institutions as part of efforts
to expand credit lines for exporters and small companies.
The Ministry of Strategy and Finance said in a statement that it will invest 300
billion won in the Industrial Bank of Korea (IBK), 250 billion won in the
Export-Import Bank of Korea and 200 billion won each in Korea Asset Management
Corp. and Korea Housing Finance Corp.
-----------------
(LEAD) Seoul stocks end 0.78 pct up on bargain hunting
SEOUL -- South Korean shares closed 0.78 percent higher Friday as investors
hunted for bargains following steep losses the previous session, analysts said.
The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.78 points to
1,391.73. Volume was heavy at 677.5 million shares worth 6.64 trillion won
(US$5.28 billion), with gainers outpacing losers 474 to 341.
-----------------
(LEAD) Watchdog mulls lifting ban on short selling
SEOUL -- South Korea's financial watchdog is considering eliminating a ban on
short selling of stocks as soon as possible, its chief said Friday, amid signs
that global financial instability is easing.
The Financial Services Commission (FSC) imposed the ban on short selling, or sale
of shares by borrowing them in anticipation of price falls, in October to keep
the trading practice from battering the local bourse amid global financial
turmoil.
(END)
The following is the second summary of major stories moved by Yonhap News Agency
on Friday.
-----------------
(LEAD) N. Korea scraps contracts with South on joint venture amid tension
SEOUL -- North Korea said Friday that all contracts with South Korea over a joint
industrial venture are no longer valid, accusing Seoul of being "insincere" in
negotiations and suggesting Pyongyang may even shut the complex down.
The warning came after days of negotiations to set up official talks ended with
no breakthrough at the joint complex in the North's border town of Kaesong.
-----------------
N. Korea likely to prolong threat of nuclear test: U.S. expert
SEOUL -- North Korea will likely play out its threat to conduct a second nuclear
test in order to draw the maximum amount of outside attention, possibly for
months, a U.S. expert said Friday.
"The longer they drag it out, the more people pay attention," Ralph Cossa, head
of the Honolulu-based Pacific Forum of the Center for Strategic and International
Studies (CSIS), said in an interview. "North Korea is not in any rush...probably,
by the summer."
-----------------
S. Korea's trade surplus tops US$9.7 bln this year
SEOUL -- South Korea's trade surplus reached US$9.7 billion this year as sinking
exports were more than offset by a sharper drop in imports, a government report
showed Friday.
The Korea Customs Service said the aggregate amount of products shipped abroad
this year as of Thursday hit US$115.5 billion, with imports reaching $105.8
billion.
-----------------
S. Korea to invest 950 bln won in state banks
SEOUL -- South Korea's government said Friday that it will invest 950 billion won
(US$755.7 billion) into four state-run financial institutions as part of efforts
to expand credit lines for exporters and small companies.
The Ministry of Strategy and Finance said in a statement that it will invest 300
billion won in the Industrial Bank of Korea (IBK), 250 billion won in the
Export-Import Bank of Korea and 200 billion won each in Korea Asset Management
Corp. and Korea Housing Finance Corp.
-----------------
(LEAD) Seoul stocks end 0.78 pct up on bargain hunting
SEOUL -- South Korean shares closed 0.78 percent higher Friday as investors
hunted for bargains following steep losses the previous session, analysts said.
The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.78 points to
1,391.73. Volume was heavy at 677.5 million shares worth 6.64 trillion won
(US$5.28 billion), with gainers outpacing losers 474 to 341.
-----------------
(LEAD) Watchdog mulls lifting ban on short selling
SEOUL -- South Korea's financial watchdog is considering eliminating a ban on
short selling of stocks as soon as possible, its chief said Friday, amid signs
that global financial instability is easing.
The Financial Services Commission (FSC) imposed the ban on short selling, or sale
of shares by borrowing them in anticipation of price falls, in October to keep
the trading practice from battering the local bourse amid global financial
turmoil.
(END)
