Yonhap News Summary

Yonhap News Summary

The following is the second summary of major stories moved by Yonhap News Agency
on Friday.

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N. Korea, U.S. likely to hold multiple direct talks: expert
JEJU ISLAND -- North Korea and the United States are expected to lay the
groundwork for top-level bilateral talks, probably involving Secretary of State
Hillary Clinton, when President Barack Obama's special envoy visits Pyongyang
next month, a South Korean expert said Friday.
Nam Sung-wook, director of the Institute for National Security Strategy, pointed
out that North Korea makes much of "diplomatic protocol" in reaching an important
deal and views Washington's top diplomat as a real counterpart.
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Korean won slides 1.7 pct to dollar on Dubai debt woes
SEOUL -- The South Korean currency declined 1.72 percent against the U.S. dollar
on Friday on Dubai debt fears prompted investors to flock into safe assets,
analysts said.
The local currency closed at 1,175.5 won to the greenback, down 20.20 won from
the previous session.
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No exit strategy until full-fledged recovery is seen: Seoul
SEOUL -- South Korean Prime Minister Chung Un-chan reaffirmed Friday that the
government will not implement an exit strategy from expansionary macroeconomic
policies until a full-fledged economic recovery takes shape.
"The Korean economy is recovering faster than expected, but it's still difficult
to be optimistic about the global economy, which is very uncertain," Chung told
corporate executives at a forum hosted by a business lobby group.
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N. Korean leader visits naval command
SEOUL -- North Korean leader Kim Jong-il recently inspected a naval command with
the country's top military brass, state media said Friday, a visit that follows
an inter-Korean skirmish along the Yellow Sea border earlier this month.
The Korean Central News Agency said Kim looked around the command of the Navy's
Unit 587 of the Korean People's Army and gave instructions to further strengthen
the country's naval force. As is typical, the report did not disclose the
location of the military unit or the date of Kim's visit.
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Public corporations to invest 66.3 tln won in SOC, energy projects next year
SEOUL -- Over two dozen state-owned firms will drive trillions of won into public
projects next year that seek to create affordable housing, handle flooding and
generate energy, the government said Friday.
South Korea's top 29 public corporations plan to invest 66.3 trillion won
(US$56.9 billion) into the plan. The Ministry of Strategy and Finance said the
total represents an increase of 8.6 percent from this year.
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Presidential committee unveils list of Japanese collaborators
SEOUL -- A presidential committee on Friday unveiled a list of 704 Korean people
that it says collaborated with Japan during the late years of the 1910-45
Japanese colonial rule of the Korean Peninsula.
The list covers some renowned figures from academic, educational, artistic and
media circles who were allegedly involved in pro-Japanese activities between
1937-45, said the Presidential Committee for the Inspection of Collaborations for
Japanese Imperialism (PCIC).
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(LEAD) Seoul stocks end 4.69 pct lower on Dubai woes
SEOUL -- South Korean stocks finished 4.69 percent lower Friday as investors
fretted over debt problems in Dubai, analysts said. The local currency slid down
against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 75.02 points to
end at 1,524.50, carrying its losing streak through a second consecutive session.
Volume was moderate at 380.4 million shares worth 5.38 trillion won (US$4.58
billion) with losers overwhelming gainers 785 to 68.
(END)