yna--2020-10-18--(LEAD) Justice ministry, prosecution collide in fund scandal probe

The ministry said the prosecution did not sufficiently look into the claims by Kim Bong-hyun , a key suspect in @ @ @ @ @ Lime Asset Management Co. , that he lobbied former and incumbent prosecutors , as well @ @ @ @ @ connection with the case .

(ATTN: RECASTS headline, lead and para 2; ADDS more details in paras 6-7)
SEOUL, Oct. 18 (Yonhap) -- The Ministry of Justice said Sunday that the prosecution failed to thoroughly investigate a high-profile fund scandal that involves alleged bribery of a slew of politicians and government officials, but the prosecution hit back, saying that the ministry's claims are groundless.
The ministry said the prosecution did not sufficiently look into the claims by Kim Bong-hyun, a key suspect in the financial fraud case involving Lime Asset Management Co., that he lobbied former and incumbent prosecutors, as well as government officials, in connection with the case.
Kim was arrested in April on charges of embezzlement. Lime Asset, founded in 2012, has been under probe over its alleged cover-up of massive losses and subsequent suspension of fund redemption worth an estimated 1.6 trillion won (US$1.39 billion)
The photo shows a letter written by Kim Bong-hyun and revealed by his lawyer on Oct. 16, 2020, in which Kim claimed that he had lobbied politicians and sitting prosecutors in connection with Lime Asset Management. (PHOTO NOT FOR SALE) (Yonhap)
The ministry made the conclusion after a three-day independent probe into Kim and his claims. It also said that prosecutors did not actively handle the case, despite Kim's testimony at the prosecution about his lobbying and Prosecutor General Yoon Seok-youl's order for swift investigation.
The ministry said it will form a separate team to look into the case, but did not elaborate on details.
But the prosecution claimed that the ministry's probe results are not based on facts.
"Prosecutor-General Yoon has ordered a thorough investigation into the case several times and probes into politicians are also underway," the prosecution said.
Kim argued in a letter revealed by his lawyer on Friday that he spent 10 million won to throw a drinking party for three incumbent prosecutors in July last year, and one of them took part in the investigation into the Lime scandal.
Earlier this month, he also argued that he gave 50 million won in bribe to former senior presidential secretary for political affairs Kang Gi-jung through a third person last year. Kang denied all allegations and filed a lawsuit against Kim on defamation and perjury charges.
Later in the day, the Supreme Prosecutors Office released a statement to strongly rebut the ministry's earlier announcement, and said the investigation into the Lime scandal was well underway.
Kim Bong-hyun, owner of Star Mobility, is taken out of a detention room at Nambu Police Station in Suwon, south of Seoul, on April 24, 2020, to undergo a probe into his alleged involvement in Lime Asset Management Co.'s cover-up of massive losses and subsequent suspension of fund redemption worth an estimated 1.6 trillion won (US$1.3 billion). (Yonhap)(END)
jaeyeon.woo@yna.co.kr
(END)


yna--2020-10-18--U.S. national security adviser to visit Seoul next month: Cheong Wa Dae

Suh also called for U.S. support for Trade Minister Yoo Myung-hee , who has been named as one of the @ @ @ @ @ position of World Trade Organization ( WTO ) director-general .

SEOUL, Oct. 18 (Yonhap) -- U.S. National Security Adviser Robert O'Brien will visit Seoul next month, probably after the U.S. presidential election, Cheong Wa Dae said Sunday.
Presidential spokesman Kang Min-seok said during a briefing that Suh Hoon, director of South Korea's National Security Office, asked his counterpart to visit Seoul during their meeting at the White House last week.
Kang expected O'Brien's visit to take place after the U.S. presidential election on Nov. 3.
During his visit, "Suh met with other senior officials, including Secretary of State Mike Pompeo," Kang said, adding that his visit "served as a chance to reconfirm strong alliance between the two allies."
Suh will continue working closely with U.S. officials on various issues, including a defense cost-sharing deal and the resumption of nuclear talks between Washington and Pyongyang, according to the spokesman.
The two allies also agreed on cooperating in the development of vaccines for the new coronavirus, he said.
Suh also called for U.S. support for Trade Minister Yoo Myung-hee, who has been named as one of the two final candidates for the position of World Trade Organization (WTO) director-general.
This captured image from the Twitter account of the U.S. National Security Council shows U.S. National Security Adviser Robert O'Brien (L) and his South Korean counterpart, Suh Hoon, posing after their meeting at the White House on Oct. 14, 2020. (Yonhap)
jaeyeon.woo@yna.co.kr
(END)


yna--2020-10-18--Prosecution's investigation into fund scandal 'insufficient': justice ministry

The ministry said the prosecution did not sufficiently look into the claims by Kim Bong-hyun , a key suspect in @ @ @ @ @ involving Lime Asset Management Co. , that he lobbied former and incumbent prosecutors , as @ @ @ @ @ in connection with the case .

SEOUL, Oct. 18 (Yonhap) -- The Ministry of Justice said on Sunday that the prosecution failed to thoroughly investigate allegations that former and sitting prosecutors were involved in a large-scale fund scam that a slew of politicians and government officials were also connected to.
The ministry said the prosecution did not sufficiently look into the claims by Kim Bong-hyun, a key suspect in the high-profile financial fraud case involving Lime Asset Management Co., that he lobbied former and incumbent prosecutors, as well as government officials, in connection with the case.
Kim was arrested in April on charges of embezzlement. Lime Asset, founded in 2012, has been under probe over its alleged cover-up of massive losses and subsequent suspension of fund redemption worth an estimated 1.6 trillion won (US$1.39 billion)
The photo shows a letter written by Kim Bong-hyun and revealed by his lawyer on Oct. 16, 2020, in which Kim claimed that he had lobbied politicians and sitting prosecutors in connection with Lime Asset Management. (PHOTO NOT FOR SALE) (Yonhap)
The ministry made the conclusion after a three-day independent probe into Kim and his claims. It also said that prosecutors did not actively handle the case, despite Kim's testimony at the prosecution about his lobbying and Prosecutor General Yoon Seok-youl's order for swift investigation.
The ministry said it will form a separate team to look into the case, but did not elaborate on details.
Kim argued in a letter revealed by his lawyer on Friday that he spent 10 million won to throw a drinking party for three incumbent prosecutors in July last year, and one of them took part in the investigation into the Lime scandal.
Earlier this month, he also argued that he gave 50 million won in bribe to former senior presidential secretary for political affairs Kang Gi-jung through a third person last year. Kang denied all allegations and filed a lawsuit against Kim on defamation and perjury charges.
Later in the day, the Supreme Prosecutors Office released a statement to strongly rebut the ministry's earlier announcement, and said the investigation into the Lime scandal was well underway.
Kim Bong-hyun, owner of Star Mobility, is taken out of a detention room at Nambu Police Station in Suwon, south of Seoul, on April 24, 2020, to undergo a probe into his alleged involvement in Lime Asset Management Co.'s cover-up of massive losses and subsequent suspension of fund redemption worth an estimated 1.6 trillion won (US$1.3 billion). (Yonhap)(END)
jaeyeon.woo@yna.co.kr
(END)


yna--2020-10-18--Korean Air seeks to sell assets to secure more cash

Korean Air plans to sell a lot of land in downtown Seoul to the Seoul city government for at least @ @ @ @ @ a subsidy of 1 trillion won from the government within this year .

SEOUL, Oct. 18 (Yonhap) -- South Korea's top full service carrier Korean Air Lines Co. is seeking to raise an additional 1.5 trillion won (US$1.3 billion) in cash to overcome a prolonged, industrywide slump amid the pandemic, industry sources said Sunday.
Korean Air plans to sell a lot of land in downtown Seoul to the Seoul city government for at least 500 billion won and get a subsidy of 1 trillion won from the government within this year.
Korean Air has been in negotiations with the city government to sell its land in Gwanghwamun, central Seoul, but has failed to narrow a price difference.
Korean Air wants to sell the land for at least 500 billion won, while the city government set the land price at 467 billion won, proposing paying in installments until 2022.
Planes of South Korea's top carrier Korean Air Lines Co. are parked at Gimpo International Airport in western Seoul on May 26, 2020. (Yonhap)
The full service carrier has been in talks with the state-run Korea Development Bank (KDB) to secure 1 trillion won in cash under the government financial support program for key industries.
In May, South Korea launched a fund worth 40 trillion won to provide financial assistance to the country's backbone industries, including the airline service sector, amid the economic fallout of the new coronavirus.
As part of efforts to raise cash, Korean Air has been also pushing to sell a stake in its wholly owned Hanjin International Co., which operates Wilshire Grand Center, a skyscraper in Los Angeles.
Earlier, Korean Air raised 1.12 trillion won this year by selling its in-flight meal and in-flight duty free sales divisions and selling new shares.
KDB and Export-Import Bank of Korea (Exim Bank) asked Korean Air to secure 2 trillion won by the end of 2021 on the condition of providing emergency funds worth 1.2 trillion won in April.
In addition, Korean Air's debt to repay in the fourth quarter reached about 1.2 trillion won.
Such a financial situation drove Korean Air to quickly secure cash despite strong earnings in the second quarter and a positive outlook for the third quarter on the back of a rise in air cargo, market watchers added.
ksnam@yna.co.kr
(END)


yna--2020-10-18--More firms in queue for IPOs in Q4

More firms in queue for IPOs in Q4

Details about Krafton 's IPO have yet to be unveiled , but market focus is already on whether its share @ @ @ @ @ money than the three predecessors .

SEOUL, Oct. 18 (Yonhap) -- A number of South Korean companies are in the process of going public in the fourth quarter this year, in a bid to ride on the latest successful initial public offering (IPO) rush, data showed Sunday.
After suffering a pandemic-caused market crash in the first half, the local stock market rebounded to the pre-pandemic level, wooing more firms to tap the IPO market during the remainder of the year.
Some mega-scale deals, such as Kakao Games and Big Hit Entertainment, raised some tens of trillions of won in subscription deposits from retail individuals, adding vigor to the local IPO market.
The IPO rush has still not lost its steam, according to the data compiled by the Financial Supervisory Service (FSS).
A total of 18 companies has filed for initial public offerings by the end of November, FSS data showed.
This photo, taken on Sept. 2, 2020, shows investors at a brokerage office in Seoul applying for the public subscription of shares to be sold by Kakao Games Corp. in an initial public offering. (Yonhap)
Krafton, famous for the shooter game "PlayerUnknown's Battlegrounds," has recently started its IPO process by inviting bids for lead managers from local securities companies.
Details about Krafton's IPO have yet to be unveiled, but market focus is already on whether its share sale will attract more investor money than the three predecessors.
The fourth-quarter IPO season kicks off with biotech firm PeopleBio Inc., set to be listed on the KOSDAQ on Monday. Health care bio firm MiCo BioMed will hop from the third-tier KONEX to the secondary KOSDAQ on Thursday.
AI-focused firm VAIV Company and gas sensor developer Senko are also set to be listed on the KOSDAQ market by the end of this month.
Kyochon F&B, a giant fried chicken franchise, will be listed in November, according to the data.
Despite an upbeat mood for IPO stocks, experts warned that the IPO stocks may not turn out to be lucrative as investors had hoped.
Half of the 11 stocks that were listed after early September have dipped to below their IPO prices as of Friday, they said.
"The behemoth-level listings may have invigorated the IPO market, but clearly, not every one of them ended up with gains," Na Seung-doo, an analyst at SK Securities, said.
jwc@yna.co.kr
(END)


yna--2020-10-18--(2nd LD) New virus cases under 100 for 3rd day; cluster infections still drag in virus fight

New virus cases fell below the 50 mark for the first time since Sept. 29 on Friday , but a @ @ @ @ @ cases indicates that cases with unknown transmission routes are still lurking .

(ATTN: UPDATES with more details in paras 15-17)
SEOUL, Oct. 18 (Yonhap) -- South Korea's new coronavirus cases rose by double digits for a third consecutive day Sunday, but sporadic cluster infections across the country put more strain on the country's virus fight.
The country added 91 more COVID-19 cases, including 71 domestic infections, raising the total caseload to 25,199, according to the Korea Disease Control and Prevention Agency (KDCA).
The figure marked a rise from 73 daily cases Saturday and 47 on Friday as a series of sporadic mass infection cases are hampering the country's efforts to stem further spread of the virus.
A notice reading "no visitors allowed" is shown in the lobby of a building in Seoul on Oct. 18, 2020, where a large-scale cluster infection is reported. (Yonhap)
New virus cases fell below the 50 mark for the first time since Sept. 29 on Friday, but a steady rise in new daily cases indicates that cases with unknown transmission routes are still lurking.
Last week, the country lowered its social distancing level to the lowest in the three-tier infection preventive measure as new daily virus cases showed a slight decrease.
Under the eased measures, operations of 10 kinds of high-risk facilities, such as karaoke rooms, gyms, buffets and large-scale cram schools with more than 300 registered students, have been allowed.
People still must follow antivirus measures such as wearing face masks and keeping entry logs.
Crowds of up to 30 percent of stadium capacity have been allowed at sports events, such as in the professional soccer and baseball leagues.
But health authorities remain alert over a possible rise in new virus cases due to growing sporadic cluster infections and increasing travelers as the country is in the height of the autumn foliage season.
They are also concerned about the eased in-person classes of students from this week.
The Ministry of Education raised the attendance cap to two-thirds for all schools last Sunday, in line with the relaxed social distancing rules nationwide.
The 2020 Incheon Pentaport Rock Festival, South Korea's biggest rock concert, is held without an audience in the western port city of Incheon on Oct. 17, 2020, due to COVID-19, in this photo provided by the organizer. (PHOTO NOT FOR SALE) (Yonhap)
This week, health authorities plan to conduct virus tests for 160,000 people in senior hospitals, mental hospitals and senior care facilities in greater Seoul as new virus cases rose in the facilities.
They will decide on whether to expand the tests to other facilities after assessing the situation.
Of the newly identified local infections, 18 cases were reported in Seoul, 48 cases in Gyeonggi Province and one case in the western port city of Incheon.
A total of 33 cases were traced to a call center and medical devices store in Gangnam in southern Seoul as of noon Sunday, up 17 cases from a day earlier.
New virus cases in a rehabilitation hospital in Gwangju, Gyeonggi Province, surged to 51, up 19 cases from a day earlier, after the first case was reported on Friday.
At a casino bar in the western port city of Incheon, one more case was added, with a total of 16 cases tied to the facility.
Other municipalities reported new infections, with the country's largest port city of Busan adding two cases and Gangwon Province reporting one more case.
The country also reported 20 new imported cases, up from 11 a day earlier, the KDCA said.
Ten cases came from Russia, with three from Nepal and one each from the Philippines, Uzbekistan, India, Kuwait, Turkey, the United States and Mexico.
The total number of people released from quarantine after making full recoveries stood at 23,312, up 54 from the previous day.
One additional death was reported, raising the death toll to 444. The fatality rate was 1.76 percent.
ksnam@yna.co.kr
(END)


yna--2020-10-18--Korean shippers tipped to see strong earnings in Q3

Bulk carriers such as Pan Ocean Co. and Korea Line Corp. are also predicted to show improved earnings in the @ @ @ @ @ Dry Index ( BDI ) , a measurement of shipping costs for commodities , came @ @ @ @ @ , the highest level this year .

SEOUL, Oct. 18 (Yonhap) -- South Korean shippers, led by industry leader HMM Co., are forecast to post strong earnings in the third quarter of the year on the back of increased fare and a drop in fuel costs, industry sources said Sunday.
"A gradual recovery in global maritime cargo volume pushed up global freight rates as the supply of cargo service fell short of rising demand," Jung Yeon-sung, an analyst at NH Investment & Securities Co., said in his recent report.
The Shanghai Containerized Freight Index, a barometer of global freight rates, came to 1,448.87 on Friday, more than doubling from a year ago and marking the highest level since July 2012.
Boding well for their earnings, their fuel costs decreased due to a fall in international crude prices.
West Texas Intermediate (WTI) crude prices for November delivery closed at US$40.88 a barrel on Friday, sharply down from the $60 mark early this year.
Bulk carriers such as Pan Ocean Co. and Korea Line Corp. are also predicted to show improved earnings in the July-September period as the Baltic Dry Index (BDI), a measurement of shipping costs for commodities, came to 2,097 on Oct. 6, the highest level this year.
This photo provided by HMM Co. shows the company's container carrier. (PHOTO NOT FOR SALE) (Yonhap)
ksnam@yna.co.kr
(END)


yna--2020-10-18--Today in Korean history

Today in Korean history

2016 -- A police officer is killed in a gunfight with a criminal suspect in northern Seoul .
He cut @ @ @ @ @ that he was wearing due to a previous involvement in a sexual offense before running @ @ @ @ @

Oct. 19
1906 -- The Kyunghyang Shinmun local daily is founded.
1950 -- United Nations soldiers capture Pyongyang during their northward advance in the 1950-53 Korean War. The conflict erupted on June 25 of that year when the North's military invaded the South.
1955 -- North Korea and China sign a trade agreement.
1962 -- South Korea and Senegal establish diplomatic relations.
2016 -- A police officer is killed in a gunfight with a criminal suspect in northern Seoul. He cut off an electronic monitoring bracelet that he was wearing due to a previous involvement in a sexual offense before running away.
(END)


yna--2020-10-18--Movie chain CGV to raise ticket prices amid pandemic-caused slump

It will also remove the current seat grade system in which pricing depends on the distance from the screen -- @ @ @ @ @ -- and in which seats in the prime zone cost 2,000 won more than economy @ @ @ @ @ movies that are shown in 4DX and IMAX will require an additional charge of 1,000 @ @

SEOUL, Oct. 18 (Yonhap) -- CGV, the country's largest movie chain, said Sunday it will raise ticket prices starting Oct. 26, as the prolonged pandemic has dealt a serious blow to its bottom line.
The chain said ticket prices will rise to 12,000 won (US$10) and 13,000 won for films on show after 1 p.m on weekdays and on weekends (Friday to Sunday), respectively.
It will also remove the current seat grade system in which pricing depends on the distance from the screen -- economy, standard and prime -- and in which seats in the prime zone cost 2,000 won more than economy seats. By type, movies that are shown in 4DX and IMAX will require an additional charge of 1,000 won.
The new measures translate into a price rise of 1,000-2,000 won.
"Price increases are inevitable as spending on rent, management and hiring is growing each year, while suffering a significant drop in revenue and spending additional money on COVID-19 related disinfection efforts," CGV said.
Since the pandemic started in February in the country, the total number of moviegoers has declined by nearly 70 percent as of September.
The file photo shows the logo of movie chain CGV. (Yonhap)
jaeyeon.woo@yna.co.kr
(END)


yna--2020-10-18--S. Korean journeyman Choi Ji-man takes improbable path to World Series

He is now expected to become the first South Korean position player to appear in a World Series game .
@ @ @ @ @ winner of the National League Championship Series between the Atlanta Braves and the Los Angeles @ @ @ @ @ in their own Game 7 on Sunday .
The World Series begins next Tuesday in @ @ @ @ @ Life Field in Arlington , Texas .

By Yoo Jee-ho
SEOUL, Oct. 18 (Yonhap) -- In just a few years, Choi Ji-man has evolved from a player seemingly no club wanted into a key member of a World Series-bound team.
The Rays defeated the Houston Astros 4-2 in Game 7 of the American League Championship Series (ALCS) at Petco Park in San Diego on Saturday (local time). The Rays won the first three games of this series before dropping the next three in a row. They just avoided becoming only the second team in major league history to squander a 3-0 series lead to lose a best-of-seven postseason round.
In this Associated Press photo, Choi Ji-man of the Tampa Bay Rays (R) celebrates with teammate Pete Fairbanks after their 4-2 victory over the Houston Astros in Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
Choi played in five of the seven games and went 5-for-13 with a home run, an RBI, three runs scored and four walks. He was 2-for-3 with a walk and a run scored in the clinching contest.
He is now expected to become the first South Korean position player to appear in a World Series game. The Rays will face the winner of the National League Championship Series between the Atlanta Braves and the Los Angeles Dodgers, who will meet in their own Game 7 on Sunday. The World Series begins next Tuesday in the neutral venue of Globe Life Field in Arlington, Texas.
In this USA TODAY Sports photo via Reuters, Choi Ji-man of the Tampa Bay Rays points to shortstop Willy Adames after retiring Alex Bregman of the Houston Astros at first base during the top of the second inning of Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
Choi, 29, bounced around three organizations from 2016 to 2018 and finally settled in with the Rays in the second half of 2018. Signed by the Seattle Mariners out of high school in South Korea in 2009, Choi didn't make his big league debut until 2016, and that came with the Los Angeles Angels.
The Baltimore Orioles had signed him as a free agent in November 2015 but lost him to the Angels in the Rule 5 draft. The Angels didn't tender him a contract and made him a free agent in January 2017. Choi signed with the New York Yankees later that month but only appeared in six games in pinstripes in his lone season in the Bronx.
In this Getty Images photo, Choi Ji-man of the Tampa Bay Rays (L) celebrates with teammate Manuel Margot after scoring on a Mike Zunino sacrifice fly against the Houston Astros during the bottom of the sixth inning of Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
Then it was off to Milwaukee for the 2018 season, but the Brewers traded him to the Rays in June 2018.
The late bloomer hasn't looked back. In his first full season in 2019, Choi established career highs across the board, including 19 home runs and 63 RBIs, along with a .261/.363/.458 line.
In a truncated, 60-game season in 2020, Choi wasn't going to match those counting stats. But he also disappointed with the rate stats and finished with a .230/.331/.410 line.
In this Getty Images photo, Choi Ji-man of the Tampa Bay Rays rounds the bases after hitting a solo home run against the Houston Astros during the top of the eighth inning of Game 5 of the American League Championship Series at Petco Park in San Diego on Oct. 15, 2020. (Yonhap)
Choi was so desperate to jump-start his season this summer that he even dabbled at switch hitting.
The first baseman, who bats left and throws right, even hit a home run from the right side of the plate in a late July game against the Toronto Blue Jays. But about a month later, Choi was still only batting below .200 with little power and decided to ditch his experiment.
He then started swinging the bat a little better toward late August but ended up missing the final two weeks of the regular season with a hamstring injury.
In this Associated Press photo, Choi Ji-man of the Tampa Bay Rays (L) holds up the ball at first base after getting Alex Bregman of the Houston Astros out during the top of the seventh inning of Game 2 of the American League Championship Series at Petco Park in San Diego on Oct. 12, 2020. (Yonhap)
Choi recovered in time for the postseason, after the Rays posted the best record in the AL at 40-20. He was quiet in the Wild Card Series against the Toronto Blue Jays, batting 0-for-3 with a strikeout while coming off the bench in two games.
It was a different story in the American League Division Series (ALDS). Choi started every game and hit in the cleanup spot in all five. In Game 1, Choi smacked a go-ahead, two-run homer off the Yankees' starter Gerrit Cole, giving the Rays a 3-2 lead in the bottom fourth. The Rays lost 9-3.
Choi reached base three times, with two walks and a hit by pitch, in a 7-5 win in Game 2. In the next game, Choi went 2-for-5 with an RBI in an 8-4 victory, his first multi-hit effort in the postseason.
Choi picked up another hit in Game 4, a 5-1 win for the Yankees.
For the series, Choi batted .267/.421/.533 with a home run, three RBIs, three walks and two runs scored.
In this Getty Images photo, Choi Ji-man of the Tampa Bay Rays tosses his bat after hitting a solo home run against the Houston Astros during the top of the eighth inning of Game 5 of the American League Championship Series at Petco Park in San Diego on Oct. 15, 2020. (Yonhap)
In the ALCS, Choi was benched in Games 1 and 3 against left-handed starter Framber Valdez. When he did play, Choi made an impact both with his glove and his bat.
In Game 2, Choi put on a clinic at first base, picking one throw after another in the dirt and showing off his flexibility with a full stretch on multiple occasions.
Choi had a big moment at the plate in Game 5, when he smoked a game-tying solo home run in the top of the eighth inning for his second homer of this postseason. Though the shot seemed to have energized the Rays, it ultimately went for naught as the Astros walked off on them 4-3 in the bottom ninth.
Choi struck out in his pinch-hit appearance in Game 6 but returned to the starting lineup for Game 7. He had two singles and drew a walk, while scoring a much-needed insurance run in the bottom sixth to put the Rays ahead by 4-0.
Depending on the starting pitching matchup, Choi is once again expected to split time at first base with right-handed batting Yandy Diaz in the World Series. Three South Korean players that have been there before Choi were all pitchers: Kim Byung-hyun (2001 Arizona Diamondbacks), Park Chan-ho (2009 Philadelphia Phillies) and Ryu Hyun-jin (2018 Los Angeles Dodgers). Kim is the only one of the trio with a ring.
jeeho@yna.co.kr
(END)


yna--2020-10-18--Choi Ji-man collects 2 hits as Rays advance to World Series

The Rays jumped out to a 2-0 lead in the bottom of the first , thanks to Randy Arozarena 's @ @ @ @ @ with two outs and nobody on in the same inning , Choi drew a seven-pitch @ @ @ @ @ alive .
He was stranded at first as Willy Adames struck out .

By Yoo Jee-ho
SEOUL, Oct. 18 (Yonhap) -- The Tampa Bay Rays and their South Korean first baseman Choi Ji-man are World Series bound.
Choi went 2-for-3 with a walk and scored a late insurance run, helping the Rays beat the Houston Astros 4-2 in Game 7 of the American League Championship Series (ALCS) at Petco Park in San Diego on Saturday (local time).
In this Getty Images photo, Choi Ji-man of the Tampa Bay Rays (R) celebrates with teammate Kevin Kiermaier after scoring on a Mike Zunino sacrifice fly against the Houston Astros during the bottom of the sixth inning of Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
Choi is now poised to become the first South Korean batter to play in the World Series. Three South Koreans who have been there before Choi have all been pitchers: Kim Byung-hyun (2001 Arizona Diamondbacks), Park Chan-ho (2009 Philadelphia Phillies) and Ryu Hyun-jin (2018 Los Angeles Dodgers).
The Rays had won the first three games of the ALCS, but the Astros stormed back by winning the next three. Houston was trying to become only the second team in major league history to erase a 3-0 series deficit to win a best-of-seven postseason round, but the Rays had other ideas.
After being benched in Game 6 against lefty starter Framber Valdez, Choi was back in the starting lineup in this game, batting fifth against right-hander Lance McCullers Jr.
In this Getty Images photo, Choi Ji-man of the Tampa Bay Rays fouls a ball off his foot against the Houston Astros during the bottom of the first inning of Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
The Rays jumped out to a 2-0 lead in the bottom of the first, thanks to Randy Arozarena's two-run home run. And with two outs and nobody on in the same inning, Choi drew a seven-pitch walk to keep the inning alive. He was stranded at first as Willy Adames struck out.
The Rays went up 3-0 after Mike Zunino's solo blast in the bottom second. And Choi, with a runner on first and two outs in the third inning, flied out to deep left field.
Choi led off the bottom sixth with a hard single up the middle against new pitcher Jose Urquidy. Choi moved to second after Adames drew a walk, and tagged up to take third base on Joey Wendle's flyout to right field. Then on a sacrifice fly to center field by Zunino, Choi scored the insurance run to put the Rays up 4-0.
In this Associated Press photo, Choi Ji-man of the Tampa Bay Rays hits a single against the Houston Astros during the bottom of the sixth inning of Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
That fourth run loomed large, as the Astros cut the deficit in half in the top of the eighth.
Choi came up again with one out in the bottom eighth, up against left-handed reliever Blake Taylor, and sliced a single to shallow left field for his second hit of the game. After Adames drew a walk to move Choi to second base, the South Korean was lifted for pinch runner Mike Brosseau.
The Rays failed to cash in, but their bullpen held firm in the top ninth to preserve the two-run victory.
In five ALCS games, Choi batted 5-for-13 with a home run, an RBI, three runs scored and four walks.
In this Getty Images photo, Choi Ji-man of the Tampa Bay Rays celebrates a home run by teammate Randy Arozarena against the Houston Astros during the bottom of the first inning of Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
In this USA TODAY Sports photo via Reuters, Choi Ji-man of the Tampa Bay Rays (L) makes the catch at first base to retire Alex Bregman of the Houston Astros during the top of the second inning of Game 7 of the American League Championship Series at Petco Park in San Diego on Oct. 17, 2020. (Yonhap)
jeeho@yna.co.kr
(END)


yna--2020-10-18--BTS agency stocks tipped to come under selling pressure on institutions' sell-offs

According to the data compiled by the Financial Supervisory Service ( FSS ) , some 1,527,000 shares held by institutional @ @ @ @ @ one month as a lock-in period draws near , with about 13,000 shares likely to @ @ @ @ @ as two weeks .

SEOUL, Oct. 18 (Yonhap) -- Big Hit Entertainment, the agency of K-pop superstar BTS, may face increased volatility following last week's rocky stock market debut, as institutional investors are likely to sell part of the company's stocks.
Right after debuting on the country's main bourse on Thursday, the K-pop entertainment company soared to 351,000 won (US$306), sharply up from the 135,000-won initial public offering price, but closed down 4.44 percent. On the following day, the company dropped 22.29 percent as foreign and institutional investors sought after profit-taking.
This photo, captured from Big Hit Entertainment's live video channel, shows Chairman and CEO Bang Si-hyuk (L) and Korea Exchange (KRX) Chairman and CEO Jung Ji-won posing for a photo at the K-pop entertainment giant's listing ceremony held at KRX's Seoul headquarters on Oct. 15, 2020. (Yonhap)
Local analysts noted that the selling spree may not have ended yet, warning of another flurry of sell-offs by institutional investors, who hold about 4.28 million Big Hit shares, or some 35.68 percent of the company's stocks.
According to the data compiled by the Financial Supervisory Service (FSS), some 1,527,000 shares held by institutional investors will be traded within one month as a lock-in period draws near, with about 13,000 shares likely to be sold in as early as two weeks.
Local analysts said the selling spree may cause heavy losses to retail investors, who bought a net 403.8 billion won ($352.4 million) worth of Big Hit stocks during the first two days after the market debut.
During the two-day period, small investors suffered an average loss of 24 percent, brokerage data showed.
"Bit Hit stock prices are likely to remain volatile for the next 2-3 weeks as institutional investors will attempt to lock in profits as soon as a lock-in period ends," Hyundai Motor Securities analyst Kim Hyun-young said.
"But the stocks may rebound afterwards, as we are seeing some positive signs for the fourth-quarter earnings, such as fat album sales by BTS and SEVENTEEN," he added.
This photo, provided by Big Hit Entertainment, shows K-pop boy band BTS appearing on the screen at the Dolby Theater in Los Angeles on Oct. 14, 2020, after winning the Top Social Artist award at this year's Billboard Music Awards. (PHOTO NOT FOR SALE) (Yonhap)
jwc@yna.co.kr
(END)


yna--2020-10-19--No deal looms between LG Chem and SK Innovation over trade secret case

Still , SK Innovation has said it expects the U.S. commission to remand its preliminary ruling , claiming that its @ @ @ @ @ and there was no need for the company to infringe upon its rival 's trade @ @

By Kim Kwang-tae
SEOUL, Oct. 19 (Yonhap) -- LG Chem Ltd. and SK Innovation Co. -- South Korea's top two electric vehicle battery makers -- appear unlikely to produce a breakthrough in their high-stakes trade secret case over EV batteries ahead of next week's final ruling in the United States, industry officials said Monday.
A key issue is whether SK Innovation misappropriated and used EV battery trade secrets of its local rival as alleged by LG Chem.
In April last year, LG Chem filed a pair of lawsuits with the U.S International Trade Commission and the U.S. District Court of Delaware, claiming that SK Innovation misappropriated and used its EV battery trade secrets by hiring its former employees.
This composite image shows the headquarters of LG Chem Ltd. (L) and SK Innovation Co. in Seoul. (Yonhap)
LG Chem also called for an embargo on importing EV battery-related products from SK Innovation and demanding compensation for the theft of trade secrets.
In February, the U.S. panel made a preliminary ruling in favor of LG Chem in the case. The U.S. panel is set to give its final ruling on Oct. 26.
Some industry officials said the most probable outcome is that the U.S. panel could rule in favor of LG Chem, citing its record that no preliminary rulings on trade secret cases have been overturned.
LG Chem has also said it believes that the U.S. trade panel could uphold its default judgment.
Still, SK Innovation has said it expects the U.S. commission to remand its preliminary ruling, claiming that its technology is second to none and there was no need for the company to infringe upon its rival's trade secrets.
In July, LG Chem Vice President Lee Myoung-seok said a settlement is possible if it is a reasonable level based on an objective basis.
But the two sides are reportedly miles apart over the amount of compensation.
An official of SK Innovation said that the possibility of striking a deal with LG Chem "appears to be low at this point."
The official said SK Innovation could have difficulties in running its EV battery plants being built in the U.S. state of Georgia if the company loses the trade secret case.
A defeat also means that SK Innovation could face difficulties in supplying its EV batteries to its clients in the U.S., including Ford Motor Co., the SK official.
SK Innovation has been building its first EV battery plant with a capacity of 9.8 gigawatt hours in Georgia. The first plant is on track to begin mass-producing EV batteries in 2022.
SK Battery America, which is wholly owned by SK Innovation, also broke ground on the second EV plant with a capacity of 11.7 GWh in July.
The investments in the U.S. would raise SK Innovation's global output capacity to 71 GWh, enough to supply batteries to more than 1.4 million electric vehicles.
SK Innovation said it aims to boost its capacity to 100 GWh by 2025.
Currently, SK Innovation has three plants in operation: one each in South Korea, China and Hungary.
The EV battery market has been on a roll as automakers around the world race to go electric and eco-friendly due to tightened regulations on greenhouse gas emissions, which scientists say are to blame for global warming.
entropy@yna.co.kr
(END)


yna--2020-10-19--Hyundai's Kona EV recall potential hurdle in electrification plan

In response to the recall plan , however , LG Chem Ltd. , which supplies lithium ion car batteries to @ @ @ @ @ exact cause of the recent fires in the Kona Electric car has yet to be @ @

By Choi Kyong-ae
SEOUL, Oct. 19 (Yonhap) -- Hyundai Motor Co.'s planned global recall of 77,000 Kona Electric vehicles may be a drag on the company's electrification plan, analysts said Monday.
Hyundai Motor plans to voluntarily recall 77,000 Kona Electric models for a faulty battery cell component, as 14 cases of fires in the model -- 10 domestically and four overseas -- have been reported since 2018.
The Kona Electrics manufactured between Sept. 29, 2019, and March 13, 2020, are subject to the recall as a possible short circuit in the faulty battery cell system may cause a fire in the pure electric model, according to the transport ministry.
Hyundai Motor and its affiliate Kia Motors Corp. have sold a combined 270,000 electric vehicles in South Korea and overseas markets since 2011.
Currently, the group's pure electric models are Hyundai's Kona EV and Ioniq Electric and Kia's Soul EV and Niro EV.
This file photo provided by Hyundai Motor shows the Kona Electric model. (PHOTO NOT FOR SALE) (Yonhap)
Analysts said Hyundai's increased provisions for the Kona Electric recall will weigh on the carmaker's quarterly earnings results set to be released next week.
"Hyundai appears to have put aside 370 billion won (US$324 million) in provisions for the recall plan in the third quarter, but uncertainties involving the recall costs remain high for the company," Lim Eun-young, an analyst at Samsung Securities Co., said.
The unexpected fires in the electric model and ensuing recall plan may have an impact on Hyundai Motor Group's plan to launch 23 pure electric cars by 2025.
The group aims to sell 1 million electric vehicles in 2025 as it strives to gain a share in the global EV market, with carmakers having stepped up efforts to go electric amid tightened regulations on emissions of greenhouse gases.
On Friday, Hyundai Motor began updating the battery-related software program for the EV vehicles subject to the recall and replacing the battery system.
In response to the recall plan, however, LG Chem Ltd., which supplies lithium ion car batteries to Hyundai Motor, said the exact cause of the recent fires in the Kona Electric car has yet to be determined.
LG Chem and Hyundai Motor will jointly investigate the exact cause of the fires in the Kona Electric, as the company cannot accept the ministry's announcement, the chemical firm said.
The recall issue has emerged only a few days after the group's longtime heir Chung Euisun on Wednesday officially took over the helm at the South Korean auto giant as it pushes to morph into a future mobility solutions provider.
To compete with global EV leaders, such as Audi and Mercedes-Benz, Hyundai has been looking for ways to strengthen or form business ties with local conglomerates Samsung Group, LG Group and SK Group in EVs and make joint investments in overseas startups with future mobility technologies.
In his televised briefing on Hyundai Motor Group's EV road map to President Moon Jae-in in July, the chairman said, "The year 2021 will be the first year of the group's leapfrogging to become a leader in the EV markets."
This photo taken on Oct. 17, 2020, and provided by a Namyangju fire station shows a Kona Electric vehicle after it caught fire while charging at a parking lot in Namyangju, just east of Seoul. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
(END)


yna--2020-10-19--FM Kang vows 'unceasing' public communication with launch of diplomacy center

`` Our foreign ministry has been doing its utmost to focus on citizens through communication with them and on national @ @ @ @ @ of the center , we have gone a step further for the citizens , '' @ @ @

SEOUL, Oct. 19 (Yonhap) -- Foreign Minister Kang Kyung-wha pledged Monday to make "unceasing" communication with citizens, stressing public support is key to ensuring the effectiveness of foreign policy.
Kang made the remarks during a ceremony launching the Korea Diplomacy Center in southern Seoul, which is aimed at bolstering communication with citizens through various educational programs and diplomatic services.
"To guarantee the effectiveness of policy, it is more important than anything to ensure that the government, the provider of the policy, makes unceasing communication with citizens, the consumers of the policy," the ministry said in her congratulatory remarks.
"Our foreign ministry has been doing its utmost to focus on citizens through communication with them and on national interests. With the launch of the center, we have gone a step further for the citizens," she added.
The new center has been established as a comprehensive diplomatic town, housing various facilities that handle passport issuance and consular affairs, and provide educational programs, including diplomatic lectures for general citizens.
This file photo, taken July 28, 2020, shows Foreign Minister Kang Kyung-wha speaking during a diplomatic strategy meeting at the ministry in Seoul. (Yonhap)
sshluck@yna.co.kr
(END)


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yna--2020-10-19--(LEAD) Pupils take more in-person classes amid eased social distancing rules

In the southwestern city of Gwangju , for example , elementary and high schools with no more than 900 students @ @ @ @ @ more than 800 students are exempt from the attendance cap requirements .
Thus , 153 @ @ @ @ @ , 85 out of 92 middle schools and 61 out of 68 high schools are @ @ @ @ @ students every day , with different schedules .

(ATTN: ADDS more details in last 11 paras, photos)
SEOUL, Oct. 19 (Yonhap) -- The Ministry of Education's expansion of in-person classes at schools went into effect Monday amid a growing concern over a widening learning gap and a recent drop in new coronavirus cases.
The ministry raised the attendance cap, previously at one-third for elementary and middle schools, and two-thirds at high schools, to two-thirds for all schools on Oct. 11, in line with the government's decision to relax social distancing guidelines nationwide.
A mother helps her daughter wear her backpack in front of an elementary school in Goyang, Gyeonggi Province, on Oct. 19, 2020. (Yonhap)
The ministry said schools in the greater Seoul area, where half of the country's 51 million people live, are required to strictly follow the new mandate, while those in the rest of the country will have more leeway to adjust attendance caps depending on the seriousness of the pandemic.
In the southwestern city of Gwangju, for example, elementary and high schools with no more than 900 students and middle school with no more than 800 students are exempt from the attendance cap requirements. Thus, 153 out of 154 elementary schools, 85 out of 92 middle schools and 61 out of 68 high schools are offering in-person teaching to all students every day, with different schedules.
First graders of elementary schools, including those in Seoul and its adjacent cities, are expected to attend in-person classes almost every day to help them get accustomed to school life, which has been largely absent since the start of the pandemic in the spring. The country's academic year starts in March.
A child walks to her classroom at Seoul Munbaek Elementary School on Oct. 19, 2020. (Yonhap)
Loosening antivirus restrictions for schools also reflects a growing concern among educators and parents that a learning gap has been widening due to differences both in each child's self-directed learning capabilities and home learning environments. Working parents have been complaining that it is challenging to juggle between working and supervising children during online classes.
To reduce classroom crowding and serve more students at the same time, schools are expected to implement various measures, including staggered classes and split sessions between the morning and afternoon.
A student uses a hand sanitizer to disinfect her hands at an elementary school in Seoul on Oct. 19, 2020. (Yonhap)
At Seoul Munbaek Elementary School, teachers and volunteers were seen busy in the morning helping students with temperature checks and hand sanitization before class began.
All students, except for fourth and sixth graders, came to school on Monday for in-person learning. First and second graders will physically attend classes four days a week, while the rest will come to school three days a week.
A third grader of the school, surnamed Cha, said, "I am glad to see my friends more often," before running toward his classroom.
"Now I can come to school twice as much. I like coming to school. It's been hard to focus during online classes at home," said Jeon Min-ji, a first grader of Yeonseo Middle School in Seoul.
School safety, however, remains a nagging issue.
Outside the school entrance of Munbaek Elementary School, anxious-looking parents of first graders were watching their kids enter school.
"I know I have to follow the policy of expanding in-person instruction, but I am worried about possible infection with the coronavirus," a parent said. "It is hard to watch my kid get stressed out while being almost locked up at home," but taking in-person classes more often is also very "worrisome," the parent said.
Another parent from Namyangju, Gyeonggi Province, also said, "My child and I are both excited to be able to resume normal school life, but I am also worried about whether we can have the cake and eat it too," referring to in-person learning and school safety.
Some parents called for an all-out expansion of in-person learning regardless of the school year, citing worsening learning gaps and deficiencies coming from remote schooling.
A parent argued that children of working parents, in particular, are "being left neglected at home during the day."
"A learning gap is not just an issue of lower graders, so I don't understand why younger students get to come to school more often."
Students head to school in Goyang, Gyeonggi Province, on Oct. 19, 2020. (Yonhap)
jaeyeon.woo@yna.co.kr
(END)


yna--2020-10-19--Seoul stocks extend gains late Mon. morning on bargain hunting

The local currency was trading at 1,142.55 won against the U.S. dollar , up 4.85 won from the previous session @ @ @

SEOUL, Oct. 19 (Yonhap) -- South Korean stocks extended gains late Monday morning on investors' bargain hunting rush following a plunge for four straight days.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 17.89 points, or 0.76 percent, to 2,359.42 as of 11:20 a.m.
Stocks gained on strong institutional buying, led by gains in tech and bio firms.
Investor sentiment remained high amid hopes for earnings improvement in the July-September period, analysts said.
Large caps traded mixed.
Top market cap Samsung Electronics added 0.84 percent, and No. 2 chipmaker SK hynix jumped 2.7 percent.
Giant pharmaceutical firm Samsung Biologics rose 0.73 percent, and Celltrion climbed 0.97 percent.
Internet portal giant Naver slipped 0.17 percent, and leading chemical maker LG Chem dipped 2.81 percent.
Hyundai Motor, the country's largest automaker, retreated 1.74 percent, and top steelmaker POSCO spiked 3.22 percent.
The local currency was trading at 1,142.55 won against the U.S. dollar, up 4.85 won from the previous session's close.
jwc@yna.co.kr
(END)


yna--2020-10-19--Samsung Heavy succeeds in operating remote autonomous ship

The ship returned safely to a point of departure without the help of crew after reaching its destination , which @ @ @ @ @ the shipbuilding company said .

By Nam Kwang-sik
SEOUL, Oct. 19 (Yonhap) -- South Korean shipbuilder Samsung Heavy Industries Co. said Monday it has successfully navigated its 300-ton remote autonomous ship.
The 38-meter-long ship was operated in seas off Geoje Island, 398 kilometers south of Seoul, via a remote control system at a research center located in Daejeon, 250 kilometers away from the seas, Samsung Heavy said.
The ship returned safely to a point of departure without the help of crew after reaching its destination, which was 10 kilometers away, the shipbuilding company said.
Samsung Autonomous Ship, its remote autonomous navigation system, helped the ship navigate autonomously under remote control, the company said.
Samsung Heavy said it plans to commercialize its independently developed autonomous navigation system by 2022.
This photo, provided by Samsung Heavy Industries Co. on Oct. 19, 2020, shows a person controlling the company's remote autonomous ship in seas off Geoje Island via a remote control system at a research center in Daejeon, 250 kilometers away from the seas. (PHOTO NOT FOR SALE) (Yonhap)
ksnam@yna.co.kr
(END)


yna--2020-10-19--(LEAD) Tours to inter-Korean border village of Panmunjom to resume early next month

`` We plan to begin the tours in small groups to ensure safety for the visitors in accordance with the @ @ @ @ @ measures against COVID-19 .
We will keep an eye on the situation and gradually increase @ @ @ @ @ the tours , '' the ministry said .

(ATTN: ADDS more info in paras 5-6)
SEOUL, Oct. 19 (Yonhap) -- A tour program to the inter-Korean border village of Panmunjom will resume early next month after more than a year of suspension caused by the African swine fever, the unification ministry said Monday.
The reopening comes as there have been no recent reports of the animal disease in Paju, the border city to which the village belongs, with the local authorities planning thorough precautions to fend off potential transmissions from other areas.
The tours to the Joint Security Area (JSA) and other sites inside the Demilitarized Zone (DMZ) are scheduled to begin on a limited basis on Nov. 4, and their official resumption will come two days later, the ministry said.
"We plan to begin the tours in small groups to ensure safety for the visitors in accordance with the African swine fever situation and measures against COVID-19. We will keep an eye on the situation and gradually increase the number and size of the tours," the ministry said.
The ministry said that although South Korea neither consulted with the North nor notified it of the resumption plan, there would not be any security issue regarding the tour program.
"Currently, security guards from both sides work unarmed in Panmunjom, and we believe there is no security issue in resuming the tours," Yoh Sang-key, the ministry's spokesman, told a regular press briefing.
The ministry also plans to ease restrictions on visitors by extending the registration period and allowing individuals or families to apply. Last year, the tours were only open to visitors who registered in groups of 30 to 40 people.
"The new tour program will lay the cornerstone in achieving the demilitarization of the Panmunjom and free movement as agreed in the 2018 Panmunjom Declaration and military agreement," it said, referring to the two signature inter-Korean agreements signed under the Moon Jae-in government.
The ministry stressed that no reports of ASF have been found in Paju since June, although there have recently been cases in the country's northeastern county of Hwacheon.
It also vowed to take necessary precautions at the tour sites, including disinfecting vehicles and conducting temperature checks.
In the file photo taken April 19, 2018, South Korean and U.S. soldiers stand guard at the inter-Korean truce village of Panmunjom, north of Seoul, ahead of the historic inter-Korean summit talks at the village on April 27. (Yonhap)
julesyi@yna.co.kr
(END)


yna--2020-10-19--Jeju woman repents for offering to sell newborn baby on mobile platform: police

`` She said she got angry after learning that the adoption process is difficult and takes a long time .
@ @ @ @ @ the case with her emotional and economic difficulties in mind , '' said a police @ @ @ @ @ no job and the father is not in the condition to raise a baby .

JEJU, South Korea, Oct. 19 (Yonhap) -- A Jeju Island woman, who recently caused a stir in Korean society after offering to sell her newborn baby for 200,000 won (US$175) in a mobile secondhand marketplace, has deeply repented for her wrongdoing, police said Monday.
Jeju's provincial police agency, investigating the unprecedented case, said it has conducted a preliminary questioning of the single woman in her 20s and concluded that she appears to have uploaded the controversial post out of her physical and emotional difficulties after giving birth to the baby following an unwanted pregnancy.
The woman has sincerely expressed remorse, police said, noting she had immediately deleted her online post after realizing her behavior was wrong.
The case started Friday, when the woman uploaded two photos of her newborn baby on the cyber marketplace, saying a 36-week-old baby is available for adoption for the price of 200,000 won.
The shocking post immediately went viral on local online communities, prompting police to launch an investigation for her possible violation of the Child Welfare Act.
According to police, the woman gave birth at an ob-gyn clinic in the city of Jeju last Tuesday before uploading her online post at a postnatal care center in the same city three days later.
"She said she got angry after learning that the adoption process is difficult and takes a long time. But we're also approaching the case with her emotional and economic difficulties in mind," said a police official, noting she has no job and the father is not in the condition to raise a baby.
Her parents also live in Jeju but are not in a situation to extend any helping hand, the official said.
Police said they will further question the woman after she leaves the prenatal care center. She reportedly plans to enter a single mothers facility after being discharged from the center.
Separately from the probe, police said they will seek ways to financially help the women and her baby through cooperation from relevant public institutions.
These photos captured from a mobile secondhand marketplace show a baby put up for adoption by a woman on Jeju Island on Oct. 16, 2020. (Yonhap)
ycm@yna.co.kr
(END)


yna--2020-10-19--The Korea Interbank Offered Rates (KORIBOR)

SEOUL , Oct. 19 ( Yonhap ) -- The Korea Interbank Offered Rates ( KORIBOR ) as posted by Yonhap @ @ @ @ @ and information arm of Yonhap News Agency , at 11:00 a.m .

(URGENT) N. Korea says Travis King decided to come over to N. Korea because he harbored ill feeling within the U.S. Army: KCNA


yna--2020-10-19--Approval rating for ruling party down 3.4 pct points, lead over main opposition narrows

The result narrowed DP 's public poll lead over the main opposition to 2.6 percentage points , which is within @ @ @ @ @ 's margin of error of plus or minus 2 percentage points for each party .

SEOUL, Oct. 19 (Yonhap) -- The approval rating for the ruling Democratic Party (DP) slid 3.4 percentage points last week from a week earlier amid growing allegations that some party members were involved in financial scam scandals, a recent public poll showed Monday.
The approval rating for the DP came in at 32.2 percent in the survey conducted on 2,523 voters from Monday-Friday last week by Realmeter, down 3.4 percentage points from a week earlier.
In the latest poll, the main opposition People Power Party saw its approval rating edge up by 0.7 percentage point to 29.6 percent.
The result narrowed DP's public poll lead over the main opposition to 2.6 percentage points, which is within the range of the survey's margin of error of plus or minus 2 percentage points for each party.
Realmeter concluded that the mushrooming investment fraud scandals involving two asset management firms, Lime and Optimus, may have caused the setback to the DP.
The scandals have recently spilled over to political circles following a court testimony and a corporate record suggesting that several former and incumbent government officials and politicians including those from the ruling party were involved.
This computer-created image was provided by Yonhap News TV. (Yonhap)
Meanwhile, the approval rating for President Moon Jae-in stood at 45.8 percent in the latest Realmeter poll, up 1 percentage point from a week earlier.
Half of those polled, however, gave a negative assessment of Moon, while the remaining 4.2 percent either withheld a response or said they were not sure.
This graph tracking President Moon Jae-in's approval rating was provided by Realmeter. (PHOTO NOT FOR SALE) (Yonhap)
pbr@yna.co.kr
(END)


yna--2020-10-19--Auto exports snap 5-month decline in Sept. amid pandemic

Local carmakers shipped 193,081 units of cars overseas last month , up 14.8 percent from a year earlier , according @ @ @ @ @ the Ministry of Trade , Industry and Energy .
In terms of value , auto @ @ @ @ @ US $ 3.8 billion .

By Kang Yoon-seung
SEOUL, Oct. 19 (Yonhap) --- South Korea's exports of automobiles rebounded in September to snap a decline of five consecutive months on the back of improved shipments to North America, data showed Monday.
Local carmakers shipped 193,081 units of cars overseas last month, up 14.8 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. In terms of value, auto exports advanced 23.2 percent to US$3.8 billion.
Over the January-September period, the country shipped 1,330,859 units of automobiles, down 25.1 percent on-year, the data added.
Outbound shipments of automobiles had been losing ground throughout this year as the COVID-19 pandemic has disrupted global supply chains, while consumers also refrained from purchasing new cars amid economic uncertainties.
In April, automobile exports dropped 44.6 percent on-year, followed by another 57.5 percent decrease in May.
Industry leader Hyundai Motor Co. saw its automobile exports advance 6.7 percent on-year in September, on the back of the robust sales of SUVs.
Exports of Hyundai's smaller sister Kia Motors Corp. rebounded 12.8 percent as well on growing demand for environment friendly models.
Outbound shipments by GM Korea Co., the South Korean unit of General Motors Co., more than doubled in September from the previous year, also on the back of SUV models.
Renault Samsung Motors Corp. and SsangYong Motor Co., on the other hand, saw their exports drop 80.3 percent and 46.7 percent, respectively.
By destination, exports to North America climbed 61 percent.
Exports to the European Union, on the other hand, slipped 1.4 percent, and those to Asian nations decreased 5.5 percent.
South Korea's combined auto production rose 23.2 percent on-year in September to reach 342,489 on the back of rising demand from both home and abroad.
Domestic sales advanced 22.2 percent to reach 162,716 over the period, the data showed.
colin@yna.co.kr
(END)


yna--2020-10-19--Airlines to levy no fuel surcharges on int'l routes in Nov.

Analysts said the zero-rate surcharge is unlikely to be of great help to boosting airlines ' sales as the prolonged @ @ @ @ @ to cut their international flights to some 30 percent of pre-virus levels .
( END @

SEOUL, Oct. 19 (Yonhap) -- South Korean airlines will not impose fuel surcharges on international routes in November on low oil prices due to the coronavirus pandemic, industry sources said Monday.
The surcharge for one-way tickets on international routes will remain at zero next month, unchanged from a month earlier, according to the sources.
Local air carriers' fuel surcharges on international routes will stay at zero for the eighth consecutive month, raising expectations that the zero rate may last down the road.
Local airlines' surcharges depend on the level of jet fuel prices traded on the Singaporean market.
This undated file photo shows an airplane taking off from Incheon International Airport, west of Seoul. (Yonhap)
If the average jet fuel price on the Singapore spot market rose over US$1.50 per gallon during the past month, South Korean airlines are allowed to impose fuel surcharges starting one month later.
If jet fuel prices drop below the threshold, no surcharge is collected. There are 10 levels of surcharges, depending on the length of the route. Jet fuel prices on the Singapore market averaged $0.978 per gallon between Sept. 16 and Thursday.
Local air carriers will also impose no fuel surcharges on domestic routes for the seventh consecutive month in November due to the coronavirus fallout. Surcharges are levied if the jet fuel price exceeds $1.20 per gallon.
Analysts said the zero-rate surcharge is unlikely to be of great help to boosting airlines' sales as the prolonged coronavirus crisis has forced them to cut their international flights to some 30 percent of pre-virus levels.
(END)


yna--2020-10-19--S. Korea to ease regulations on EV battery recycling

The latest move paved the way for Hyundai Glovis Co. , an auto parts unit of Hyundai Motor Group , @ @ @ @ @ Mobility Co. , an EV taxi operator , which will help the company better manage @ @ @ @ @

SEOUL, Oct. 19 (Yonhap) -- South Korea on Monday eased regulations to allow for environment friendly ways to utilize used batteries from electric vehicles.
The approval came as the number of scrapped EV batteries is anticipated to increase sharply down the road with the country's green energy drive, which centers on promoting EVs and hydrogen fuel-cell cars.
"While the used EV batteries can have adverse impacts on the environment, they can create new business opportunities when recycled," the Ministry of Trade, Industry and Energy said in a statement.
South Korea said earlier it will increase the accumulated number of EV sales to 1.13 million by 2025, sharply up from the current 113,000.
The Korea Energy Economics Institute, meanwhile, estimates the number of scrapped EV batteries will reach 80,000 by 2029.
The latest move paved the way for Hyundai Glovis Co., an auto parts unit of Hyundai Motor Group, to rent batteries to KST Mobility Co., an EV taxi operator, which will help the company better manage and recycle used batteries.
Hyundai Motor Co., South Korea's top automaker, will also study ways to harness used EV batteries to build energy storage containers, which are connected to solar facilities.
LG Chem Ltd, a major battery producer, also will carry out research projects on finding ways to utilize used batteries in producing ESS products.
colin@yna.co.kr
(END)


yna--2020-10-19--Tours to inter-Korean border village of Panmunjom to resume early next month

`` We plan to begin the tours in small groups to ensure safety for the visitors in accordance with the @ @ @ @ @ measures against the COVID-19 .
We will keep an eye on the situation and gradually @ @ @ @ @ of the tours , '' the ministry said .

SEOUL, Oct. 19 (Yonhap) -- A tour program to the inter-Korean border village of Panmunjom will resume early next month after more than a year of suspension caused by the African swine fever, the unification ministry said Monday.
The reopening comes as there have been no recent reports of the animal disease in Paju, the border city to which the village belongs, with the local authorities planning thorough precautions to fend off potential transmissions from other areas.
The tours to the Joint Security Area (JSA) and other sites inside the Demilitarized Zone (DMZ) are scheduled to begin on a limited basis on Nov. 4, and their official resumption will come two days later, the ministry said.
"We plan to begin the tours in small groups to ensure safety for the visitors in accordance with the African swine fever situation and measures against the COVID-19. We will keep an eye on the situation and gradually increase the number and size of the tours," the ministry said.
The ministry also plans to ease restrictions on visitors by extending the registration period and allowing individuals or families to apply. Last year, the tours were only open to visitors who registered in groups of 30 to 40 people.
"The new tour program will lay the cornerstone in achieving the demilitarization of the Panmunjom and free movement as agreed in the 2018 Panmunjom Declaration and military agreement," it said, referring to the two signature inter-Korean agreements signed under the Moon Jae-in government.
The ministry stressed that no reports of ASF have been found in Paju since June, although there have recently been cases in the country's northeastern county of Hwacheon.
It also vowed to take necessary precautions at the tour sites, including disinfecting vehicles and conducting temperature checks.
In the file photo taken April 19, 2018, South Korean and U.S. soldiers stand guard at the inter-Korean truce village of Panmunjom, north of Seoul, ahead of the historic inter-Korean summit talks at the village on April 27. (Yonhap)
julesyi@yna.co.kr
(END)


yna--2020-10-19--Retail giants' sales dip over 2 tln won this year amid pandemic: poll

Industry leader Lotte Shopping and its rivals Shinsegae and Hyundai Department Store are projected to have posted a combined 17.3 @ @ @ @ @ the January-September period , down 2.2 trillion won from the previous year , according to @ @ @ @ @ , the financial news arm of Yonhap News Agency .

SEOUL, Oct. 19 (Yonhap) -- Combined sales by South Korea's retail giants are estimated to have declined more than 2 trillion won (US$1.75 billion) on-year in the first nine months of this year on the fallout of the COVID-19 pandemic, a poll showed Monday.
Industry leader Lotte Shopping and its rivals Shinsegae and Hyundai Department Store are projected to have posted a combined 17.3 trillion won in sales in the January-September period, down 2.2 trillion won from the previous year, according to the survey by Yonhap Infomax, the financial news arm of Yonhap News Agency.
Local retailers have been hit hard by the virus outbreak as people refrain from visiting offline stores and instead resort to online shopping to avoid infection risks.
In particular, the retail giants' duty-free segment has been battered by the pandemic as the number of customers sharply fell amid disrupted air travel.
This photo, taken on April 3, 2020, shows a Lotte Department Store in Seoul's central Jung Ward. (Yonhap)
Analysts said the retail behemoths probably posted weak earnings in the third quarter as consumer spending remained sluggish, affected by tougher virus curbs.
In late August, the country raised social distancing measures to Level 2 across the nation in its three-tier scheme and applied them for about a month to contain another flare-up in virus cases.
The country's daily virus cases had been in the triple digits for more than a month since Aug. 14, due largely to a church in northern Seoul and an anti-government rally.
"Local retailers are expected to have posted sluggish earnings in the third quarter, hit by the longest rainy season, the resurgence in virus cases and a fall in the number of Chinese travelers," Na Eun-chae, an analyst at Korea Investment & Securities, said in a report.
In the January-September period, Lotte Shopping is estimated to have posted an operating profit of 127.2 billion won, down 65 percent from a year earlier, the poll showed.
Lotte Shopping's operating profit declined 82 percent on-year to 296.7 billion won in the first half. In the second quarter, it swung to a net loss from a year earlier.
Lotte Shopping, the operator of the country's biggest department store, is seeking to sell 121 of its brick-and-mortar stores, including supermarkets and department stores, within this year in a bid to improve its financial soundness.
Industry watchers said Lotte's discount stores and home shopping business appeared to fare well, but its department store, movie theaters and online shopping segments still remained sluggish.
This photo, taken on Aug. 30, 2020, shows a Shinsegae Department Store in Seoul's southern district of Gangnam. (Yonhap)
No. 2 player Shinsegae is estimated to have logged 12 billion won in operating loss in the first nine months of the year, according to the poll.
In the second quarter, Shinsegae swung to an operating loss of 43.1 billion won from the previous year as its duty-free division was pounded by the virus outbreak.
Smaller rival Hyundai Department Store is projected to have posted 61.7 billion won in operating profit in the January-September period, down 65 percent from the previous year.
"As the country has relaxed its virus curbs since mid-September, offline retailers are seeing some improvement in revenues," Park Sang-jun, an analyst at Kiwoom Securities, said.
Amid a slowdown in new virus cases, South Korea on Sept. 14 eased tougher anti-virus measures, called Level 2.5, that had been put in place in the greater Seoul area, and it lowered the social distancing level by one notch to Level 1 across the nation last week.
sooyeon@yna.co.kr
(END)


yna--2020-10-19--Another collapse looming for K League-leading Ulsan

Ulsan were only down 1-0 at halftime .
But a dozen minutes into the second half , Bulthuis got the @ @ @ @ @ challenge from behind to stop Stanislav Iljutcenko on a fast break .
Then about four @ @ @ @ @ also shown the exit after getting tangled up with Pohang 's Kang Sang-woo .

By Yoo Jee-ho
SEOUL, Oct. 19 (Yonhap) -- Could it be happening again?
A year after spectacularly blowing a chance to win the K League 1 title, Ulsan Hyundai FC may be in for another late-season collapse.
With a chance to solidify their grip on the top spot, Ulsan instead bowed out to Pohang Steelers 4-0 on Sunday, suffering their most lopsided loss of the season at the worst possible moment.
Players for Ulsan Hyundai FC (in blue) and Pohang Steelers battle for the ball during their K League 1 match at Pohang Steel Yard in Pohang, 370 kilometers southeast of Seoul, on Oct. 18, 2020. (Yonhap)
Ulsan's chief rivals, Jeonbuk Hyundai Motors, routed Gwangju FC 4-1 on the same day. Ulsan and Jeonbuk are now tied in points at 54, heading into their fateful showdown on Sunday in the penultimate match of the season. Ulsan are still in first place thanks to their 51-43 edge in goals scored, the first tiebreaker.
The eight-goal deficit may seem too much for Jeonbuk to overcome in their final two matches. But given their ability to kick into a higher gear at critical moments and Ulsan's recent history of untimely swoons, it'd be wise not to bet against Jeonbuk just yet.
Ulsan are trying to win their first title since 2005. Jeonbuk are going for an unprecedented fourth consecutive title.
Ulsan didn't just lose Sunday's match at Pohang Steel Yard in Pohang, 370 kilometers southeast of Seoul. Defender Dave Bulthuis and forward Bjorn Johnsen were both sent off with direct red cards during the defeat, and they won't be available for the season's final two matches.
Stanislav Iljutcenko of Pohang Steelers celebrates his goal against Ulsan Hyundai FC during a K League 1 match at Pohang Steel Yard in Pohang, 370 kilometers southeast of Seoul, on Oct. 18, 2020. (Yonhap)
Ulsan were only down 1-0 at halftime. But a dozen minutes into the second half, Bulthuis got the red card for an illegal challenge from behind to stop Stanislav Iljutcenko on a fast break. Then about four minutes later, Johnsen was also shown the exit after getting tangled up with Pohang's Kang Sang-woo.
As both fell to the ground, Johnsen appeared to have swung his left leg toward Kang's face. The left foot missed and slammed into the pitch instead, and Johnsen's toe ended up hitting Kang in the back of the head as the foot bounced off the ground.
Johnsen pleaded his case, apparently arguing that the action wasn't intentional and was just a natural motion, but a video assistant referee review upheld the original ruling on the field.
With just nine men left, Ulsan had no answer against Pohang's onslaught. Iljutcenko and Aleksandar Palocevic finished with two goals apiece.
Cho Young-wook of FC Seoul (R) celebrates his goal against Seongnam FC during a K League 1 match at Tancheon Sports Complex in Seongnam, Gyeonggi Province, on Oct. 17, 2020, in this photo provided by the Korea Professional Football League. (Yonhap)
It was Pohang that ruined Ulsan's title bid last year. A draw against Pohang on the final day of the 2019 season and the title would've been Ulsan's. Instead, Ulsan lost 4-1 and allowed Jeonbuk to claim the trophy instead with their 1-0 victory over Gangwon FC.
In Jeonju, 240 kilometers south of Seoul, Jeonbuk received a goal apiece from four different players in their easy victory over Gwangju. Midfielder Han Kyo-won scored the team's fourth goal and his 11th of the season. He broke a tie with Pohang's Song Min-kyu for most goals by a South Korean player in 2020.
In the lower half of the table, the relegation picture became a bit clearer over the weekend. Three of the bottom six clubs have ensured they will avoid automatic relegation by finishing in last place.
Fans take in a K League 1 match between the home team Jeonbuk Hyundai Motors and Gwangju FC at Jeonju World Cup Stadium in Jeonju, 240 kilometers south of Seoul, on Oct. 18, 2020. (Yonhap)
Gangwon FC did so by beating cellar-dwelling Incheon United 3-1 on Friday. FC Seoul then joined Gangwon in the safe territory by beating Seongnam FC 1-0 on Saturday. Suwon Samsung Bluewings also saved themselves the humiliation of relegation, following a 0-0 draw with Busan IPark on Sunday.
These results leave Incheon at the bottom with 21 points, with Seongnam one point ahead of them and Busan sitting four points clear of Incheon.
Seongnam will play Suwon on Friday, and Incheon and Busan will clash on Saturday.
Kim Bo-kyung of Jeonbuk Hyundai Motors (L) celebrates with teammate Ku Ja-ryong after scoring a goal against Gwangju FC during a K League 1 match at Jeonju World Cup Stadium in Jeonju, 240 kilometers south of Seoul, on Oct. 18, 2020. (Yonhap)
jeeho@yna.co.kr
(END)


yna--2020-10-19--(LEAD) New virus cases under 100 for 4th day, cluster infections still on rise

South Korea lowered its social distancing scheme to the lowest level last week as a long holiday , which ran @ @ @ @ @ this month , did not lead to another spike in new virus cases .
Under @ @ @ @ @ facilities , as well as bars and clubs , are allowed to operate normally on @ @ @ @ @ measures are strictly followed .

(ATTN: ADDS details throughout; CHANGES photos)
SEOUL, Oct. 19 (Yonhap) -- South Korea's new coronavirus cases rose by double digits for a fourth consecutive day Monday, but sporadic cluster infections at nursing homes continued to hamper the country's efforts to stem further spread of COVID-19.
The country added 76 more COVID-19 cases, including 50 domestic infections, raising the total caseload to 25,275, according to the Korea Disease Control and Prevention Agency (KDCA).
The figure marked a drop from 91 daily cases reported Sunday but a slight rise from 73 on Saturday. New virus cases fell below the 50 mark for the first time since Sept. 29 on Friday.
Students wearing protective masks head to an elementary school in northern Seoul on Oct. 19, 2020. (Yonhap)
South Korea lowered its social distancing scheme to the lowest level last week as a long holiday, which ran from late September to early this month, did not lead to another spike in new virus cases. Under the eased restrictions, public facilities, as well as bars and clubs, are allowed to operate normally on the condition that infection prevention measures are strictly followed.
The country, which operates a three-tier alert system, adopted the Level 2 social distancing scheme in August as cases tied to a conservative church in northern Seoul and an anti-government rally piled up.
After keeping new virus cases mostly below 50 for weeks, South Korea reported 103 new cases on Aug. 14, which shot up to 441 around two weeks later. Since then, the country's COVID-19 cases have been on a clear downward trend.
Health authorities, however, warned that sporadic cluster infections are still being reported across the nation, especially from nursing homes.
The virus has been more fatal for senior citizens, with those aged 70 and above accounting for more than 80 percent of the total deaths here.
Of the newly identified local infections, 11 cases were reported in Seoul, 15 cases in Gyeonggi Province and four cases in the western port city of Incheon.
The southern port city of Busan added 14 cases as well.
New virus cases in a rehabilitation hospital in Gwangju, Gyeonggi Province, surged to 51 as of Sunday, after the first case was reported on Friday.
Starting Monday, South Korean students will take in-person classes more often as attendance cap restrictions in schools have been eased amid a recent drop in new coronavirus cases. The attendance cap, previously at one-third in elementary and middle schools, was raised to two-thirds for all schools.
Another nursing home in Busan has reported 73 patients so far.
The number of patients in critical or serious condition came to 78, up one from the previous day.
Imported cases came to 26.
Russia accounted for five patients, followed by the Philippines with three infections. There were also cases from Iran, the United States, Brazil and Mexico.
South Korea reported no additional deaths, keeping the total at 444.
The fatality rate came to 1.76 percent.
The total number of people released from quarantine after making full recoveries stood at 23,368, up 56 from the previous day. More than 92 percent of the patients reported here were cured.
South Korea carried out 2,479,226 COVID-19 tests so far, including 4,697 from the previous day. The number is far below the around 15,000 tests carried out on weekdays.
A woman takes her daughter to an elementary school in northern Seoul on Oct. 19, 2020. (Yonhap)
colin@yna.co.kr
(END)


yna--2020-10-19--LG Electronics signs partnership with Italian luxury furniture brand Molteni&C

LG recently installed the LG Signature OLED 8K TV at the Molteni Museum in Italy , displaying how its premium @ @ @ @ @ harmony with Molteni & C furniture .
It will also display the luxury TV at @ @ @ @ @ store in Paris set to open next month .

SEOUL, Oct. 19 (Yonhap) -- LG Electronics Inc. said Monday it has signed a partnership with Italian luxury furniture maker Molteni&C S.P.A. to better promote its high-end brand LG Signature.
Under the deal, the two sides will collaborate in marketing, promotion and product development related with LG Signature home appliances, Molteni&C residential furniture and Dada kitchen furniture for the next three years.
The South Korean tech firm said the collaboration will create synergy between their premium brands and deliver more opportunity for consumers to experience an "innovative, luxurious lifestyle."
Molteni&C, founded in 1934, is a renowned designer furniture maker. It runs some 530 stores in 23 countries, including South Korea.
LG recently installed the LG Signature OLED 8K TV at the Molteni Museum in Italy, displaying how its premium electronics appliances can be in harmony with Molteni&C furniture. It will also display the luxury TV at Molteni&C's flagship store in Paris set to open next month.
This photo provided by LG Electronics Inc. on Oct. 19, 2020, shows Kim Jin-hong, head of LG Electronics Global Marketing Center, posing for a photo after signing a partnership with Italian luxury furniture brand Molteni&C. (PHOTO NOT FOR SALE) (Yonhap)
kdon@yna.co.kr
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yna--2020-10-19--Pupils take more in-person classes amid eased social distancing rules

SEOUL, Oct. 19 (Yonhap) -- The Ministry of Education's expansion of in-person classes at schools went into effect Monday amid a growing concern over a widening learning gap and a recent drop in new coronavirus cases.
The ministry raised the attendance cap, previously at one-third for elementary and middle schools, and two-thirds at high schools, to two-thirds for all schools on Oct. 11, in line with the government's decision to relax social distancing guidelines nationwide.
A mother helps her daughter wear her backpack in front of an elementary school in Goyang, Gyeonggi Province, on Oct. 19, 2020. (Yonhap)
The ministry said schools in the greater Seoul area, where half of the country's 51 million people live, are required to strictly follow the new mandate, while those in the rest of the country will have more leeway to adjust attendance caps depending on the seriousness of the pandemic.
In the southwestern city of Gwangju, for example, elementary and high schools with no more than 900 students and middle school with no more than 800 students are exempt from the attendance cap requirements. Thus, 153 out of 154 elementary schools, 85 out of 92 middle schools and 61 out of 68 high schools are offering in-person teaching to all students every day, with different schedules.
First graders of elementary schools, including those in Seoul and its adjacent cities, are expected to attend in-person classes almost every day to help them get accustomed to school life, which has been largely absent since the start of the pandemic in the spring. The country's academic year starts in March.
Loosening antivirus restrictions for schools also reflects a growing concern among educators and parents that a learning gap has been widening due to differences both in each child's self-directed learning capabilities and home learning environments. Working parents have been complaining that it is challenging to juggle between working and supervising children during online classes.
To reduce classroom crowding and serve more students at the same time, schools are expected to implement various measures, including staggered classes and split sessions between the morning and afternoon.
Students head to school in Goyang, Gyeonggi Province, on Oct. 19, 2020. (Yonhap)
jaeyeon.woo@yna.co.kr
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yna--2020-10-19--Court issues arrest warrant for cosmetic company executive in Optimus fraud scandal

The brothers are accused of withdrawing 15 billion won ( US $ 13.13 million ) from company funds in June @ @ @ @ @ money would be used for a dental mask distribution business .
At that time , @ @ @ @ @ supply nationwide amid the spread of the coronavirus outbreak .

SEOUL, Oct. 19 (Yonhap) -- A Seoul court on Monday approved pre-trial detention of a cosmetic company executive suspected of embezzling funds to participate in large-scale fraud by the scandal-ridden private equity investment firm Optimus Asset Management.
The Seoul Central District Court issued the warrant to detain the director of cosmetic company Skin N Skin Co., identified only as 51-year-old surnamed Lee, on embezzlement charges. This is the first arrest warrant issued since the relevant investigation started in earnest.
"The charges are justified and the amount of losses is great," Judge Kim Dong-hyun said, noting that the case is serious and that Lee poses a flight risk.
The company's 53-year-old chairman and Lee's brother was also indicted on the same charges, but no warrant was issued as he didn't show up for an arrest warrant hearing earlier Monday.
The judge said that the older brother will be called in for questioning as soon as he is in custody.
A director of cosmetic company Skin N Skin, accused of being involved in financial fraud by Optimus Asset Management, arrives at the Seoul Central District Court on Oct. 19, 2020, to attend his arrest warrant hearing. (Yonhap)
The brothers are accused of withdrawing 15 billion won (US$13.13 million) from company funds in June on the grounds that the money would be used for a dental mask distribution business. At that time, facial masks were in short supply nationwide amid the spread of the coronavirus outbreak.
But the money was instead funneled into an affiliate of Optimus Asset Management, named EP Plus, to be used for the private equity firm to cope with massive withdrawals from its funds.
The Optimus scandal centers on allegations that the private equity company solicited funds worth about 1.2 trillion won from about 2,900 investors for investments in public institutions but actually funneled most of the money into risky assets, causing huge losses to the investors. In June, Optimus suspended withdrawals from its funds.
ycm@yna.co.kr
(END)


yna--2020-10-19--S. Korea's favorability among Americans reaches all-time high: survey

`` Over the past year , South Korea has experienced an unprecedented boom in awareness of its cultural products and @ @ @ @ @ acts have regularly featured in the Billboard charts and sold out arenas around the United @ @ @ @ @ said of the outcome of its survey , partly funded by the Korea Foundation .

By Byun Duk-kun
WASHINGTON, Oct. 19 (Yonhap) -- South Korea's favorability among Americans has reached an all-time high this year, partly helped by the growing popularity of K-pop music and other cultural content here, as well as the country's handling of the new coronavirus outbreak, a U.S. survey showed Monday.
Those surveyed gave South Korea's favorability a mean score of 60 on a 0-100 scale, according to the outcome of the poll conducted by the Chicago Council on Global Affairs, a global, nonpartisan think tank.
North Korea, on the other hand, received a mean favorability score of 19, the lowest of any country included in the latest survey, it noted.
"Over the past year, South Korea has experienced an unprecedented boom in awareness of its cultural products and global influence. Its musical acts have regularly featured in the Billboard charts and sold out arenas around the United States," the council said of the outcome of its survey, partly funded by the Korea Foundation.
"And South Korea's handling of COVID-19 has won plaudits from the international community, laying out a playbook for other countries in how to deal with outbreaks," it added in a press release.
This photo, provided by Big Hit Entertainment on Sept. 21, 2020, shows K-pop group BTS performing on the "Tiny Desk Concert" show on National Public Radio in the United States. (PHOTO NOT FOR SALE) (Yonhap)
Forty-seven percent of all respondents said South Korea's handling of the pandemic has either been very or somewhat effective, compared with 37 percent for both the United States and China, according to the survey.
The Council said the highest score for South Korea's favorability came despite what it called U.S. President Donald Trump's "repeated threats and bullying tactics" on defense and trade issues with Seoul.
Seoul and Washington are currently deadlocked in negotiations to set South Korea's share of the cost in keeping some 28,500 U.S. troops in South Korea.
South Korea has offered to increase its burden-sharing by 13 percent from the US$870 million it paid under last year's agreement, but the U.S. is said to be asking for a 50 percent hike to $1.3 billion. Trump is reported to have initially demanded $5 billion per year from South Korea.
"South Korea, in particular, has been singled out by Trump for failing to pay its fair share for its defense and for being an unfair trading partner," the council said.
"Despite these attacks on South Korea from the American president, three-quarters of Americans (74 percent) continue to say that the United States and South Korea are mostly partners, up from 65 percent when the question was first asked in 2012," it added.
A record high of 68 percent of respondents also said South Korea practices fair trade with the United States.
A majority of Americans, 58 percent, also favor using U.S. troops to defend South Korea in case of a North Korean invasion, the survey showed.
Few Americans, however, have faith in their country's denuclearization talks with North Korea, with only 14 percent saying they are either very confident or somewhat confident that the talks will lead to North Korea giving up its nuclear weapons.
Still, Americans in favor of using force against the communist state also dipped to all-time lows, according to the survey.
Only 29 percent said they support airstrikes against the North's nuclear production facilities, while 24 percent supported sending U.S. troops to destroy such facilities in the communist state, it showed.
The latest survey was conducted between July 2 and 19, involving 2,111 people aged 18 years or older in all 50 U.S. states and the District of Columbia.
bdk@yna.co.kr
(END)


yna--2020-10-19--(LEAD) Moon requests Malaysia's support for S. Korea's WTO chief bid

Moon also said Yoo is the right person to adjust the interests of advanced and developing nations and get the @ @ @ @ @ on the basis of her personnel networks and the political leadership she has shown as @ @ @ @ @ chief .

(ATTN: UPDATES with details of foreign minister's talks in last 3 paras; ADDS photo)
SEOUL, Oct. 19 (Yonhap) -- President Moon Jae-in had a phone call with Malaysian Prime Minister Muhyiddin Yassin on Monday and asked the Southeast Asian country to back South Korean Trade Minister Yoo Myung-hee's bid to become the director general of the World Trade Organization (WTO), Cheong Wa Dae said.
Moon pointed out that Yoo is a leading figure in the trade field with vision and capability to protect the free trade system and restore trust in it through the reform of the WTO, according to Cheong Wa Dae spokesman Kang Min-seok.
The president was quoted as saying that it is "very important" to elect such a candidate at a time when the world economy is facing big challenges.
South Korean President Moon Jae-in holds phone talks with Malaysian Prime Minister Muhyiddin Yassin at Cheong Wa Dae in Seoul on Oct. 19, 2020, in this photo provided by Moon's office. (PHOTO NOT FOR SALE) (Yonhap)
Moon also said Yoo is the right person to adjust the interests of advanced and developing nations and get the WTO reform task done successfully on the basis of her personnel networks and the political leadership she has shown as South Korea's trade policy chief.
The Malaysian leader agreed that Yoo has "played an important role with very impressive experience and career," Kang said.
Moon's 20-minute phone conversation with the prime minister marked the opening of his full-fledged summit diplomacy for Yoo in the final round of the WTO chief race also involving Nigeria's former Finance Minister Ngozi Okonjo-Iweala.
Foreign Minister Kang Kyung-wha also used virtual meetings with her counterparts from Slovenia and Finland to request the two countries' support for Yoo.
In her meeting with Slovenian Foreign Minister Anze Logar, the two also discussed bilateral cooperation in trade and investment, according to Kang's office.
During talks with Finnish Foreign Minister Pekka Haavisto, the two agreed that their countries have been strengthening cooperation on global health issues and actively contributing to Afghanistan's stabilization and reconstruction, Kang's office added.
This photo, provided by Seoul's foreign ministry, shows Foreign Minister Kang Kyung-wha (R) holding a virtual meeting in Seoul with Finnish Foreign Minister Pekka Haavisto on Oct. 19, 2020. (Yonhap)
lcd@yna.co.kr
(END)


yna--2020-10-19--S. Korea expresses 'deep regret' over Abe's visit to war shrine

`` The government once again sternly points out that the international community can trust Japan only when these leaders squarely @ @ @ @ @ humble reflections and sincere atonement for past history through action , '' the official added @

SEOUL, Oct. 19 (Yonhap) -- South Korea expressed "deep regret" Monday after former Japanese Prime Minister Shinzo Abe again visited a war shrine, urging Tokyo to atone for its colonial-era atrocities through action.
Abe's visit to the Yasukuni Shrine in Tokyo earlier Monday was his second since he stepped down as prime minister in mid-September due to health problems.
"We express deep concern and regret that responsible leaders of Japan are visiting the Yasukuni Shrine, a symbolic establishment that beautifies (Japan's) colonial plunder and war of aggression," a Seoul foreign ministry official said, citing the ministry spokesman's statement following Abe's previous visit on Sept. 19.
"The government once again sternly points out that the international community can trust Japan only when these leaders squarely face history and demonstrate their humble reflections and sincere atonement for past history through action," the official added.
Yasukuni Shrine honors Japan's war dead, including 14 Class A war criminals.
Abe refrained from visiting the shrine for nearly seven years while in office, apparently to avoid angering neighboring countries, and instead sent offerings around key festivals and anniversaries.
Many South Koreans harbor deep resentment over Japan's brutal colonial rule of the Korean Peninsula from 1910-45.
This photo, posted on former Japanese Prime Minister Shinzo Abe's Twitter account, shows him visiting the Yasukuni Shrine in Tokyo on Sept. 19, 2020. (PHOTO NOT FOR SALE) (Yonhap)
hague@yna.co.kr
(END)