ID :
74846
Wed, 08/12/2009 - 11:48
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https://www.oananews.org//node/74846
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Yonhap News Summary
Yonhap News Summary
The following is the second summary of major stories moved by Yonhap News Agency
on Tuesday.
-----------------
(LEAD) S. Korea to launch first space rocket on Aug. 19
SEOUL -- South Korea's first space rocket will be launched on Aug. 19 following
repeated delays caused by the Russian-made first stage booster, the government
said Tuesday.
The Ministry of Education, Science and Technology said engineers concluded that
the Korea Space Launch Vehicle-1 (KSLV-1) could be launched safely following the
successful "hot fire test" conducted late last month.
-----------------
S. Korea's global export ranking rises two notches to 10th place
SEOUL -- South Korea's global export ranking rose two notches to 10th place this
year mainly due to local companies being less affected by the worldwide economic
slump, the government said Tuesday.
The Ministry of Knowledge Economy said South Korea exported a total of US$104.9
billion worth of products in the first four months of this year, surpassing
Canada and Hong Kong.
-----------------
BOK rolls over US$1.2 bln in loans to local banks
SEOUL -- South Korea's central bank said Tuesday it has rolled over US$1.2
billion in loans to local banks to help them shore up their foreign-currency
liquidity.
The Bank of Korea (BOK) said the loans, part of a $30 billion currency swap line
with the U.S. Federal Reserve, were auctioned off to eight local lenders.
-----------------
Pyeongtaek designated as "employment promotion zone"
SEOUL -- The government has designated Pyeongtaek, the host city of
strike-crippled Ssangyong Motor Co., as a special "employment promotion zone" to
cope with a potential spike in unemployment there as the automaker's labor and
management agreed last week to mass layoffs, the Labor Ministry said Tuesday.
The designation is the first application of a special law introduced in 1994 that
allows the government to declare as "employment disaster areas" specific
administrative zones vulnerable to mass unemployment.
-----------------
Daewoo Shipbuilding buys U.S. wind power firm for US$50 mln
SEOUL -- Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest
shipbuilder, said Tuesday it has taken over a U.S. wind power company for US$50
million as part of efforts to diversify its revenue source amid falling new
orders.
DeWind Inc., founded in 1995, is an affiliate of U.S.-based Composite Technology
Corp. which manufactures transmission and distribution cable products.
-----------------
Kia Motors workers stage 4-hour strike
SEOUL -- Unionized workers at Kia Motors Corp., South Korea's second-biggest
carmaker, launched a strike on Tuesday to demand higher wages and better working
conditions, the company's labor union said.
The union said Kia workers may lay down their tools for four hours every day
through Aug. 31, if their demands are not met.
-----------------
World's top national theaters to perform in S. Korea
SEOUL -- The World Festival of National Theaters, a one of a kind event organized
by South Korea, will stage representative modern and classical works from nine
different countries, organizers of the annual event said Tuesday.
This year's event, running from Sept. 5 through Oct. 30 at major theaters in
Seoul, including the National Theater of Korea, the main venue, will open with
"The Tempest," an adaption of the Shakespearean play by Contemporary Legend
Theatre of Taiwan and director Tsui Hark.
-----------------
(LEAD) Seoul stocks end 0.2 pct up on foreign buying
SEOUL -- South Korean shares closed up 0.2 percent Tuesday as foreign investors
extended their buying streak, bolstered by upbeat economic signals from the
central bank, analysts said. The local currency fell against the U.S. dollar.
After trading in a tight-range, the benchmark Korea Composite Stock Price Index
(KOSPI) edged up 3.1 points to 1,579.21. Volume was moderate at 563 million
shares worth 6.24 trillion won (US$ 5.04 billion) with gainers outnumbering
losers 455 to 334.
(END)
The following is the second summary of major stories moved by Yonhap News Agency
on Tuesday.
-----------------
(LEAD) S. Korea to launch first space rocket on Aug. 19
SEOUL -- South Korea's first space rocket will be launched on Aug. 19 following
repeated delays caused by the Russian-made first stage booster, the government
said Tuesday.
The Ministry of Education, Science and Technology said engineers concluded that
the Korea Space Launch Vehicle-1 (KSLV-1) could be launched safely following the
successful "hot fire test" conducted late last month.
-----------------
S. Korea's global export ranking rises two notches to 10th place
SEOUL -- South Korea's global export ranking rose two notches to 10th place this
year mainly due to local companies being less affected by the worldwide economic
slump, the government said Tuesday.
The Ministry of Knowledge Economy said South Korea exported a total of US$104.9
billion worth of products in the first four months of this year, surpassing
Canada and Hong Kong.
-----------------
BOK rolls over US$1.2 bln in loans to local banks
SEOUL -- South Korea's central bank said Tuesday it has rolled over US$1.2
billion in loans to local banks to help them shore up their foreign-currency
liquidity.
The Bank of Korea (BOK) said the loans, part of a $30 billion currency swap line
with the U.S. Federal Reserve, were auctioned off to eight local lenders.
-----------------
Pyeongtaek designated as "employment promotion zone"
SEOUL -- The government has designated Pyeongtaek, the host city of
strike-crippled Ssangyong Motor Co., as a special "employment promotion zone" to
cope with a potential spike in unemployment there as the automaker's labor and
management agreed last week to mass layoffs, the Labor Ministry said Tuesday.
The designation is the first application of a special law introduced in 1994 that
allows the government to declare as "employment disaster areas" specific
administrative zones vulnerable to mass unemployment.
-----------------
Daewoo Shipbuilding buys U.S. wind power firm for US$50 mln
SEOUL -- Daewoo Shipbuilding & Marine Engineering Co., the world's third-largest
shipbuilder, said Tuesday it has taken over a U.S. wind power company for US$50
million as part of efforts to diversify its revenue source amid falling new
orders.
DeWind Inc., founded in 1995, is an affiliate of U.S.-based Composite Technology
Corp. which manufactures transmission and distribution cable products.
-----------------
Kia Motors workers stage 4-hour strike
SEOUL -- Unionized workers at Kia Motors Corp., South Korea's second-biggest
carmaker, launched a strike on Tuesday to demand higher wages and better working
conditions, the company's labor union said.
The union said Kia workers may lay down their tools for four hours every day
through Aug. 31, if their demands are not met.
-----------------
World's top national theaters to perform in S. Korea
SEOUL -- The World Festival of National Theaters, a one of a kind event organized
by South Korea, will stage representative modern and classical works from nine
different countries, organizers of the annual event said Tuesday.
This year's event, running from Sept. 5 through Oct. 30 at major theaters in
Seoul, including the National Theater of Korea, the main venue, will open with
"The Tempest," an adaption of the Shakespearean play by Contemporary Legend
Theatre of Taiwan and director Tsui Hark.
-----------------
(LEAD) Seoul stocks end 0.2 pct up on foreign buying
SEOUL -- South Korean shares closed up 0.2 percent Tuesday as foreign investors
extended their buying streak, bolstered by upbeat economic signals from the
central bank, analysts said. The local currency fell against the U.S. dollar.
After trading in a tight-range, the benchmark Korea Composite Stock Price Index
(KOSPI) edged up 3.1 points to 1,579.21. Volume was moderate at 563 million
shares worth 6.24 trillion won (US$ 5.04 billion) with gainers outnumbering
losers 455 to 334.
(END)
