Yonhap News Summary

Yonhap News Summary



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

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(LEAD) Korea, ASEAN drawing up joint statement on N. Korea: Thai premier
JEJU ISLAND, South Korea -- South Korea and the 10 member countries of the
Association of Southeast Asian Nations (ASEAN) plan to issue a joint statement at
the end of their special summit here that will urge North Korea to refrain from
further provocations and respect U.N.-imposed sanctions, Thai Prime Minister
Abhisit Vejjajiva said Monday.
The statement will "reaffirm our stance and desire for peace and stability in the
region," Abhisit told reporters, adding senior officials of Korea and ASEAN
countries are working on the statement.
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(LEAD) N. Korea bans navigation in mid, upper Yellow Sea: sources
SEOUL -- North Korea has recently prohibited vessels from navigating in mid and
upper parts of the Yellow Sea, prompting South Korea to monitor the region for
possible signs of a provocation, intelligence sources said Monday.
North Korea routinely sets up entry-prohibited areas in its western waters for
military training purposes, but the latest ban is unusually long in duration,
nearly two months until the end of July, the sources said on condition of
anonymity.
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U.S. team to speak more about N. Korea than listen: Seoul officials
SEOUL -- An inter-agency team of ranking U.S. officials, on a rare tour of
Northeast Asia, is expected to "talk" more about the Barack Obama
administration's stance on North Korea than "listen to" those of other regional
players, officials here said Monday.
The delegation, led by Deputy Secretary of State James Steinberg, arrived in
Tokyo on the weekend before visiting South Korea, China, and Russia. It also
includes Stephen Bosworth, special representative for North Korea policy,
Treasury Undersecretary Stuart Levy, Wallace Gregson, assistant secretary of
defense for Asian Pacific affairs, and Jeffrey Bader, senior director for Asian
Affairs at the National Security Council (NSC).
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(2nd LD) S. Korea's trade surplus tops US$5 bln in May
SEOUL -- South Korea's trade surplus reached US$5.15 billion in May mainly due to
a sharp drop in imports, a government report showed Monday.
The country's exports came to $28.2 billion last month, falling 28.3 percent
on-year, with imports plummeting 40.4 percent to around $23.1 billion, according
to the report by the Ministry of Knowledge Economy.
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(LEAD) S. Korean export drop to abate in June: finance minister
JEJU ISLAND, South Korea -- South Korea's export downturn is expected to ease in
June as markets for overseas shipments are well diversified, the top economic
policymaker said Monday.
"The decline in exports is likely to abate in June," Finance Minister Yoon
Jeung-hyun told reporters after attending a forum held here on the sidelines of
the South Korea-ASEAN special summit talks.
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Gov't may end auto industry support early
SEOUL -- The government will discontinue a support package for the auto industry
ahead of schedule if local carmakers put off meaningful restructuring efforts,
official sources said Monday.
Sources at the Ministry of Strategy and Finance and the Ministry of Knowledge
Economy said the sales-bolstering program, which gives tax benefits to Koreans
who own an old car and purchase a new one, could be halted after September.
(END)