yna--2020-01-08--S. Korea to spend over 60 pct of budget in 1st half: finance minister

SEOUL , Jan. 8 ( Yonhap ) -- Finance Minister Hong Nam-ki said Wednesday that 62 percent of the state @ @ @ @ @ the first half of this year as South Korea seeks to revitalize the economy through @ @ @ @

SEOUL, Jan. 8 (Yonhap) -- Finance Minister Hong Nam-ki said Wednesday that 62 percent of the state budget will be implemented in the first half of this year as South Korea seeks to revitalize the economy through large-scale investment projects.
In particular, the government will spend 37 percent of the budget for job creation in the first quarter, Hong said in a meeting with economy-related ministers earlier in the day.
"This year, the government will do its best to swiftly implement budget spending to support the economy," Hong said.
Finance Minister Hong Nam-ki speaks at a meeting with economy-related ministers on Jan. 8, 2020. (Yonhap)
South Korea's economy is expected to grow 2.4 percent this year, following last year's estimated 2 percent expansion, on the back of an anticipated recovery in the memory chip sector and a series of policy measures.
Hit by a lengthy U.S.-China trade war and a cyclical slump in the memory chip sector, the nation's economy is poised to report its weakest annual growth in a decade last year.
As part of the government's initiative to boost the economy through investment, state-run institutions will expand next year's investment to 60 trillion won (US$51.4 billion) from 55 trillion won for this year.
Also, the government will encourage private firms to spend 25 trillion won in large-scale investment projects.
kdh@yna.co.kr
(END)


KOSPI 2,156.27 DN 19.27 points (open)

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


KOSDAQ 657.24 DN 6.20 points (open)


yna--2020-01-08--Dollar opens at 1,170.3 won UP from 1,166.4 won


yna--2020-01-08--(LEAD) Samsung estimates Q4 earnings dip 34 pct on weak chip prices

SEOUL , Jan. 8 ( Yonhap ) -- Samsung Electronics Co. said Wednesday its operating earnings dipped more than 30 @ @ @ @ @ of last year from a year earlier due to weak chip prices , but its @ @ @ @ @ market had expected .

(ATTN: CHANGES headline, lead; UPDATES with more info throughout; COMBINES with article slugged Samsung Electronics-2019 earnings guidance)
By Kim Han-joo
SEOUL, Jan. 8 (Yonhap) -- Samsung Electronics Co. said Wednesday its operating earnings dipped more than 30 percent in the fourth quarter of last year from a year earlier due to weak chip prices, but its performance was better than the market had expected.
The operating profit was estimated at 7.1 trillion won (US$6.1 billion) in the October-December period, a 34.26 percent drop from a year ago, according to its earnings guidance.
The figures were above market expectations of 6.5 trillion won in operating profit in the survey conducted by Yonhap Infomax, the financial arm of Yonhap News Agency, on 22 Korean brokerage houses.
For all of 2019, Samsung predicted its operating profit at 27.71 trillion won, marking a 52.9 percent on-year drop.
Sales decreased 0.5 percent to 59 trillion won over the cited period. The data for net profit was not available.
The Korean tech giant expected its fourth-quarter sales at 59 trillion won in the three-month period, down 0.59 percent. The fourth-quarter sales estimate stood at 60.5 trillion won on average.
Full-year sales are expected to reach 229.52 trillion won, a 5.8 percent fall from 2018, the tech giant said.
Samsung Electronics did not break down performances of its respective business divisions, saying it will announce the detailed earnings later this month.
The earnings guidance was announced before the local stock market opened.
sam@yna.co.kr
(END)


yna--2020-01-08--Samsung Electronics 2019 operating earnings down 52.9 pct. to 27.71 tln won

SEOUL , Jan. 8 ( Yonhap ) -- Samsung Electronics Co. on Wednesday estimated its 2019 operating profit at 27.71 @ @ @ @ @ 23.8 billion ) , down 52.9 percent from a year earlier .

SEOUL, Jan. 8 (Yonhap) -- Samsung Electronics Co. on Wednesday estimated its 2019 operating profit at 27.71 trillion won (US$ 23.8 billion), down 52.9 percent from a year earlier.
Annual sales decreased 5.8 percent to 229.52 trillion won. The data for net income was not available.
The company will release its final earnings report later.
※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).
(END)


yna--2020-01-08--Samsung Electronics Q4 operating earnings down 34.3 pct. to 7.1 tln won

The operating profit was 1.0 percent lower than the average estimate , according to the survey by Yonhap Infomax , @ @ @ @ @ Yonhap News Agency .

SEOUL, Jan. 8 (Yonhap) -- Samsung Electronics Co. on Wednesday estimated its fourth-quarter operating profit at 7.1 trillion won (US$ 6.1 billion), down 34.3 percent from a year earlier.
Sales decreased 0.5 percent to 59 trillion won. The data for net profit was not available.
The operating profit was 1.0 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
The company will release its final earnings report later.
※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).
(END)


yna--2020-01-08--(URGENT) Samsung Electronics estimates Q4 sales at 59tln won.


yna--2020-01-08--(URGENT) Samsung Electronics estimates Q4 operating profit at 7.1 tln won


yna--2020-01-08--Yonhap news advisory for Wednesday, Jan. 8

The following stories are scheduled to be covered by Yonhap News Agency .
Your queries are welcome .
Yonhap 's @ @ @ @ @ reached by telephone at 82-2-398-3451 ( general ) and 82-2-398-3460 ( economics ) , and @ @ @ @ @ yna.co.kr or sam @ yna.co.kr .

The following stories are scheduled to be covered by Yonhap News Agency. Your queries are welcome. Yonhap's English-language news desk can be reached by telephone at 82-2-398-3451 (general) and 82-2-398-3460 (economics), and by email at sshim@yna.co.kr or sam@yna.co.kr.
General
-- Appeals court to rule on former President Lee Myung-bak for bribery and embezzlement
-- N.K. leader's birthday
-- 2nd day of confirmation hearing for prime minister nominee
Economy & Finance
-- Earnings guidance from Samsung Electronics, LG Electronics
-- Economy-related ministers discuss stimulus measures
(END)


yna--2020-01-08--BTS to drop new album on Feb. 21

BTS to drop new album on Feb. 21

The group will put out `` Map of the Soul : 7 '' on Feb. 21 , the first release @ @ @ @ @ Map of the Soul : Persona '' in April last year , Big Hit Entertainment @ @

SEOUL, Jan. 8 (Yonhap) -- K-pop boy band BTS will return to the local music scene next month with a new album, the group's management agency said Wednesday.
The group will put out "Map of the Soul: 7" on Feb. 21, the first release since it rolled out "Map of the Soul: Persona" in April last year, Big Hit Entertainment said.
The group topped the Billboard 200 main albums chart for the previous "Map of the Soul: Persona" last year, with its album sales reaching a record 3.7 million copies in South Korea.
Preorders for the upcoming album will begin Thursday, with additional details to be announced on WeVerse, the group's official fan community, the agency said.
BTS members pose for photos at the 34th Golden Disc Awards ceremony at Seoul's Gocheok Sky Dome on Jan. 5, 2020. (Yonhap)
brk@yna.co.kr
(END)


yna--2020-01-08--(EDITORIAL from Korea JoongAng Daily on Jan. 8)

But the reality is an entirely different story .
The administration 's hefty spending only increased jobs — and mostly @ @ @ @ @ the elderly while jobs for people in their 40s — the backbone of our economy @ @ @ @ @ months .
While full-time jobs decreased , part-time jobs increased as a result of the @ @ @ @ @ the minimum wage .
That 's not all .
The low income bracket 's incomes @ @ @ @ @ types of government handouts .
To put it differently , the government fixed its policy @ @ @ @ @ Korea Labor and Society Institute , a think tank , concluded that drastic increases in @ @ @ @ @ — not raise — monthly incomes for lower income earners .

One hand clapping
In his nationally televised New Year's speech on Tuesday, President Moon Jae-in vowed to go his own way this year — catering to his supporters instead of listening to his opponents. There was no sign of change to his reckless income-led growth or North Korea policies. The address seemed to be aimed at consolidating support among voters ahead of the Apr. 15 parliamentary elections.
Over half of his speech was devoted to economic and livelihood issues. He continued patting himself on the back without mentioning any policy shift this year. He said that 280,000 jobs were created last year and youth employment hit a record high for 13 years. He also underscored an "upturn in the bottom 20 percent group's income."
But the reality is an entirely different story. The administration's hefty spending only increased jobs — and mostly part-time at that — for the elderly while jobs for people in their 40s — the backbone of our economy — declined for 25 consecutive months. While full-time jobs decreased, part-time jobs increased as a result of the government's rapid hikes in the minimum wage. That's not all. The low income bracket's incomes only increased thanks to various types of government handouts. To put it differently, the government fixed its policy failures with taxes. The Korea Labor and Society Institute, a think tank, concluded that drastic increases in the minimum wage helped reduce — not raise — monthly incomes for lower income earners.
The government pays lip service to innovation, but look at what happened to doomed van-hailing service Tada due to stifling regulations. Hyundai Motor launched a car-sharing service in Los Angeles — not at home. An increasing number of companies are leaving Korea to find business opportunities. The people are suffering from the policy failures of the government rather than enjoying the fruits of solid economic and industrial policies. The government must take a U-turn.
While urging North Korean leader Kim Jong-un to visit Seoul, Moon mentioned a long list of rosy inter-Korean projects such as co-hosting of the 2032 Olympics, forming a joint team for the Tokyo Summer Olympics, and connecting South and North Korean railways. The word "denuclearization" was missing — even after Kim threatened to develop a "new strategic weapon" soon.
Moon said he chose change to meet a growing public demand to create a better country. To build a great nation, he must change. The future of this country depends on his abandoning politics designed to satisfy his supporters only.
(END)


yna--2020-01-08--(EDITORIAL from Korea Times on Jan. 8)

(EDITORIAL from Korea Times on Jan. 8)

More than anyone else , Moon has been waiting for a deal between Pyongyang and Washington with patience , and @ @ @ @ @ his ideas about promoting inter-Korean peace into action .
And it was only considered possible @ @ @ @ @ , and the U.S. eased or removed sanctions on the North accordingly .
But with @ @ @ @ @ the U.S. on the brink of collapse , he may choose to move more independently @ @ @ @ @ with Pyongyang .

Moon's proposal to N. Korea
Kim Jong-un should seize opportunity
Some of the key themes of President Moon Jae-in's New Year address Tuesday were peace, economic recovery, industrial innovation and social fairness.
What was most intriguing was his proposal that North Korean leader Kim Jong-un should visit South Korea soon as the two leaders had previously agreed upon. Moon again showed his eagerness to push for the resumption of the stalled symbolic projects between the two Koreas ― the Gaeseong Industrial Complex and South Korean tours to Mount Geumgang ― as well as reconnecting severed inter-Korean roads and railways.
"I hope the two Koreas will make efforts together so that the conditions for Chairman Kim's reciprocal visit can be created early," Moon said, referring to Kim's agreement to visit the South during Moon's trip to Pyongyang in September 2018.
It is meaningful that Moon has shared his vision for peace on the Korean Peninsula again, especially when tensions are rising between North Korea and the United States over their stalled denuclearization talks. We surely need to do something to break the deadlock, revive dialogue and then move the peace process forward.
Moon's latest message to the North shows his willingness to sit in the "driver's seat" again to pave the way for positive changes just as he made the most of the PyeongChang Winter Olympics in early 2018 to usher in a new era for the two Koreas, and help Pyongyang and Washington begin negotiations.
Given that Moon has been consistent about reviving inter-Korean economic exchanges as a means to consolidate peace depending on the progress of the dialogue between the North and the U.S., the current stalemate in their talks ironically gives more flexibility to Moon.
More than anyone else, Moon has been waiting for a deal between Pyongyang and Washington with patience, and the right time to put his ideas about promoting inter-Korean peace into action. And it was only considered possible if a deal was done, and the U.S. eased or removed sanctions on the North accordingly. But with talks between the North and the U.S. on the brink of collapse, he may choose to move more independently from Washington to revitalize exchanges with Pyongyang.
It is most important that North Korea should behave well. If it goes ahead with an intercontinental missile test, as widely speculated, it will be the beginning of a whole different story.
Kim Jong-un should realize that he holds the key to a consolidated peace and prosperous future for his country. He may believe a grand bargain with the U.S. will resolve all pending problems, including those with South Korea. However, the first thing he must do is to try to improve ties with the South. Without doing so, he will obtain nothing.
(END)


yna--2020-01-08--(EDITORIAL from Korea Herald on Jan. 8)

(EDITORIAL from Korea Herald on Jan. 8)

The upsurge in the conflict between Washington and Tehran comes amid the North 's repeated threats to return to provocations @ @ @ @ @ ballistic missile in a bid to draw concessions from the US .
In his New @ @ @ @ @ key ruling party meeting last week , North Korean leader Kim Jong-un said the world @ @ @ @ @ strategic weapon '' in the near future .
He warned of a `` shocking actual @ @ @ @ @ President Donald Trump 's administration of stalling for time in pursuit of its own political @ @

Pyongyang's option
NK would be unwise to cross red line amid escalating tensions between US, Iran
The escalating tensions in the Middle East in the wake of a fatal US drone attack on a top Iranian military commander last week have heightened uncertainties over the stalled nuclear talks between Washington and Pyongyang.
North Korea may judge it has more room to maneuver, with the US focusing on the intensifying standoff with Iran that could flare up into a full-scale war.
The upsurge in the conflict between Washington and Tehran comes amid the North's repeated threats to return to provocations such as launching an intercontinental ballistic missile in a bid to draw concessions from the US. In his New Year's message at a key ruling party meeting last week, North Korean leader Kim Jong-un said the world would witness a "new strategic weapon" in the near future. He warned of a "shocking actual action" while accusing US President Donald Trump's administration of stalling for time in pursuit of its own political interests.
Washington certainly does not want to see Pyongyang increasing provocations when it is coping with heightened tensions with Tehran. Trump has regarded the North's self-imposed moratorium on nuclear and ICBM tests as a key foreign policy accomplishment he can boast of as he is entering a reelection campaign this year.
Pyongyang may be gauging whether and when to ditch that ban to put maximum pressure on the Trump administration to make significant concessions to the recalcitrant regime in the nuclear negotiations.
It may also move to cooperate with Iran's nuclear program, or hint at the possibility of doing so, in an additional attempt to increase its bargaining power. Tehran announced Sunday that it would forgo the limits under a 2015 nuclear agreement with major global powers, from which Washington withdrew in 2018.
Though he continues to leave the door open for talks with the North, Trump may not want to be seen as making concessions, particularly as he faces an impeachment trial in the US Senate.
Rather, the fatal airstrike on the key Iranian general could mean that Trump would respond to Pyongyang's crossing of a red line by opting for a military option -- not by easing sanctions on the impoverished regime as it clings to its nuclear arsenal.
It may be difficult to compare a nuclear-armed North Korea with Iran, which is at the initial stage of its nuclear capabilities.
But Trump's impromptu decision to order the killing of the Iranian military commander makes it hard to anticipate what action he might take if he sees Pyongyang's provocations as severe enough to harm US security interests and his own reelection prospects.
The thought of being hit by a drone attack at any time might frighten Kim more than surgical strikes on selected nuclear facilities and missile launch sites in the North. Defense experts here believe the US recently deployed the same type of drones that killed the Iranian general at an air base in South Korea.
In December, Pyongyang's state media released photos of Kim, along with his wife and senior military officials, riding white horses on the snow-covered Paektusan. Less than two months earlier, Kim was pictured riding a white horse alone on the reclusive state's highest mountain.
Now, Kim may be thinking that he might endanger his life if he staged any further symbolic acts to demonstrate his resolve to endure the difficulties facing his regime.
North Korea has refrained from issuing any direct criticism of Friday's drone strike by the US. In what could be viewed as the regime's first official response to the attack, its state-run news agency reported Monday that China and Russia expressed concerns over regional situations being worsened by the US' illegal acts, referring to Saturday's phone conversation between the Chinese and Russian foreign ministers.
This roundabout response may be seen as signaling Pyongyang will not go so far as to make a grave provocation that the Trump administration might regard as stepping over the line.
It may opt to be entrenched for a protracted standoff with the US on the back of support from China and Russia.
The diversion of Washington's attention from the North Korean nuclear issue amid the escalating conflict with Tehran could allow Pyongyang to buy time to refine its nuclear and long-range missile capabilities.
International sanctions on the regime should continue to be tightened to make it pay a high price for its refusal to denuclearize.
In this regard, President Moon Jae-in's government in Seoul should refrain from taking steps that could hamper concerted efforts with Washington in handling the North.
It should also cope with the US-Iran confrontation strategically so as to strengthen the alliance between Seoul and Washington, which many worry has frayed since Moon took office in 2017.
(END)


yna--2020-01-08--Top headlines in major S. Korean newspapers

Korean-language dailies -- Moon calls for concerted efforts to realize Kim Jong-un visit to S. Korea ( Kyunghyang Shinmun ) @ @ @ @ @ relations can play role in strained U.S.-N.K .
talks ( Kookmin Daily ) -- Moon @ @ @ @ @ Jong-un 's Seoul visit ( Donga llbo ) -- Moon calls for inter-Korean efforts for @ @ @ @ @ Seoul ( Seoul Shinmun ) -- Moon again broaches Kim Jong-un 's Seoul visit issue @ @ @ @ @ Moon focuses on efforts for Kim Jong-un 's visit , not on denuclearization ( Chosun @ @ @ @ @ nuclear energy-free policy puts operation of the Wolseong-1 , 2 , 3 reactors at risk @ @ @ @ @ Pres .
Moon again suggests Kim Jong-un 's Seoul visit ( Hankyoreh ) -- Population @ @ @ @ @ that of other regions ( Hankook Ilbo ) -- Moon vows to stabilize home prices @ @ @ @ @ -- Hyundai Motor will commercialize vertical takeoff and landing aircraft by 2028 : CEO ( @ @ @ @

SEOUL, Jan. 8 (Yonhap) -- The following are the top headlines in major South Korean newspapers on Jan. 8.
Korean-language dailies
-- Moon calls for concerted efforts to realize Kim Jong-un visit to S. Korea (Kyunghyang Shinmun)
-- Moon: Improved inter-Korean relations can play role in strained U.S.-N.K. talks (Kookmin Daily)
-- Moon urges inter-Korean efforts for Kim Jong-un's Seoul visit (Donga llbo)
-- Moon calls for inter-Korean efforts for Kim Jong-un's visit to Seoul (Seoul Shinmun)
-- Moon again broaches Kim Jong-un's Seoul visit issue (Segye Times)
-- Moon focuses on efforts for Kim Jong-un's visit, not on denuclearization (Chosun Ilbo)
-- Government's nuclear energy-free policy puts operation of the Wolseong-1, 2, 3 reactors at risk (JoongAng Ilbo)
-- Pres. Moon again suggests Kim Jong-un's Seoul visit (Hankyoreh)
-- Population of Seoul metropolitan area outnumbers that of other regions (Hankook Ilbo)
-- Moon vows to stabilize home prices (Maeil Business Newspaper)
-- Hyundai Motor will commercialize vertical takeoff and landing aircraft by 2028: CEO (Korea Economic Daily)
English-language dailies
-- Hyundai Motor unwraps its future city (Korea JoongAng Daily)
-- Moon pledges continued reform drive, better ties with neighbors (Korea Herald)
-- Moon pushes for dialogue with N. Korea (Korea Times)
(END)


yna--2020-01-08--N.K. media slams Moon's peace diplomacy

N.K. media slams Moon's peace diplomacy

`` The South Korean official disgracefully begged the leader of another country to continue its efforts for the safety and @ @ @ @ @ while pleading for close cooperation in denuclearization and resuming negotiations between North Korea and the @ @ @ @ @ , '' the North 's Pyongyang Broadcasting Station said .

SEOUL, Jan. 8 (Yonhap) -- A North Korean radio station on Wednesday slammed President Moon Jae-in's move to rally international support for Korean peace as a "bad habit of relying on external forces."
"The South Korean official disgracefully begged the leader of another country to continue its efforts for the safety and peace of the Korean Peninsula while pleading for close cooperation in denuclearization and resuming negotiations between North Korea and the U.S in a so-called summit," the North's Pyongyang Broadcasting Station said.
The outlet did not identify the official's name but its mention of the summit suggests it was referring to President Moon.
Last month, Moon asked for Sweden's continued support for the Korea peace process in a meeting with Prime Minister Stefan Lofven. He also called for China's cooperation during his summit with President Xi Jinping in Beijing.
The radio station claimed such a move will be met with "scorn and contempt from the people and the international community."
"Nothing is more foolish than relying on external forces to resolve something," it said.
julesyi@yna.co.kr
(END)


yna--2020-01-08--S. Korea replaces senior prosecutors leading investigations into high-profile scandals

Another key prosecutor replaced in the reshuffle is Park Chan-ho , who had been in charge of probes into allegations @ @ @ @ @ President Moon Jae-in 's close friend win the 2018 mayoral election in Ulsan , an @ @ @ @ @ kilometers southeast of Seoul .

SEOUL, Jan. 8 (Yonhap) -- The Justice Ministry on Wednesday replaced senior prosecutors in charge of investigations into two major scandals involving presidential officials.
Among those affected are Han Dong-hoon, the head of the anti-corruption department, who led probes into alleged irregularities by former Justice Minister Cho Kuk and Cho's suspected role in ending an inspection into bribery allegations involving a former Busan vice mayor.
Han was assigned to the No. 2 post in the High Prosecutors Offices in the southeastern port city of Busan.
Another key prosecutor replaced in the reshuffle is Park Chan-ho, who had been in charge of probes into allegations that the presidential office helped President Moon Jae-in's close friend win the 2018 mayoral election in Ulsan, an industrial city located about 400 kilometers southeast of Seoul.
The reshuffle came five days after new Justice Minister Choo Mi-ae took office with a pledge to reform the prosecution in what she called "the demand of the times."
The post of justice minister had been vacant for more than two months since her predecessor, Cho Kuk, stepped down amid a prosecution probe into his family's alleged academic fraud and financial wrongdoing.
entropy@yna.co.kr
(END)


yna--2020-01-08--Moon notes Korean Wave, vows to ensure 'cultural freedom'

The film `` Parasite '' won the best foreign film at Golden Globes after being awarded the Palme d'Or , @ @ @ @ @ Cannes Film Festival , demonstrating the potential of South Korean movies , Moon said .
@ @ @ @ @ the boy band BTS .

SEOUL, Jan. 8 (Yonhap) -- President Moon Jae-in assured artists Wednesday that his administration will ensure maximum cultural freedom, recalling the agony some of them suffered under the previous government, which was accused of blacklisting them for a political reason.
He made the remarks during his meeting for the new year with dozens of cultural figures and celebrities at Seoul Arts Center.
Moon talked about the Park Geun-hye administration's blacklisting of cultural figures who were critical of the government. Park was eventually impeached amid allegations of corruption, power abuse and negligence of duty.
The president said his government will "make sure that such a thing doesn't recur and ensure the freedom of culture and arts as much as possible."
He also vowed efforts for the enhanced welfare of those involved in the cultural circles, underscoring the importance of the sector in the country.
Many people say although South Korea has achieved great economic growth, it still has a way to go when it comes to culture, democracy and civic awareness, Moon pointed out.
He struck an upbeat note, though, introducing conversations on the popularity of K-pop, local dramas and movies, which is known as the Korean Wave, in summit talks with foreign leaders.
President Moon Jae-in speaks at his meeting for the new year with dozens of cultural figures and celebrities at Seoul Arts Center on Jan. 8, 2020. (Yonhap)
The film "Parasite" won the best foreign film at the Golden Globes after being awarded the Palme d'Or, the top prize at the Cannes Film Festival, demonstrating the potential of South Korean movies, Moon said. He also took note of the boy band BTS.
The government has earmarked 6.4 trillion won (US$5.4 billion) of the budget for the cultural field.
Cheong Wa Dae said more than 80 people attended the meeting, including novelist Jo Jung-rae, pianist Sunwoo Yekwon and singer Hong Jin-young, as well as Culture Minister Park Yang-woo, other ministry officials and representatives from related associations.
The event was meant to encourage local cultural artists, demonstrate the government's resolve to promote the cultural field and share the president's message of "harmony and hope," according to Cheong Wa Dae.
Moon then attended a concert at Seoul Arts Center in a southern district of the capital.
President Moon Jae-in and first lady Kim Jung-sook pose for photos after a concert hosted by the Ministry of Culture, Sports and Tourism at Seoul Arts Center in southern Seoul to mark the new year on Jan. 8, 2020. (Yonhap)
lcd@yna.co.kr
(END)


yna--2020-01-08--S. Korea beats Iran to secure semifinals berth at Olympic women's volleyball qualifying tournament

Seven teams have been divided into two groups , with the host country Thailand in Pool A with Chinese Taipei @ @ @ @ @ best teams from each group will advance to the semifinals on Saturday , followed by @ @ @ @ @ all at Korat Chatchai Hall .

SEOUL, Jan. 8 (Yonhap) -- South Korea defeated Iran to clinch a spot in the semifinals of the Olympic women's volleyball qualifying tournament on Wednesday in Thailand.
Kang So-hwi put up a match-high 15 points, lifting the ninth-ranked South Korea past the 39th-ranked Iran 3-0 (25-15, 25-9, 25-19) for its second straight victory in Pool B at Korat Chatchai Hall in Nakhon Ratchasima, Thailand.
In this photo provided by FIVB on Jan. 8, 2020, South Korean players celebrate a point against Iran in their Pool B match of the Asian Olympic women's volleyball qualification tournament at Korat Chatchai Hall in Nakhon Ratchasima, Thailand. (PHOTO NOT FOR SALE) (Yonhap)
Only the winner of this qualifying event will advance to the 2020 Tokyo Olympics.
Coached by Italian Stefano Lavarini, South Korea opened the preliminary round with a straight-set win over Indonesia on Tuesday, and will play its final Pool B match against Kazakhstan (No. 23) on Thursday. Kazakhstan locked down a semifinals berth by beating Indonesia earlier Wednesday, and the winner of South Korea-Kazakhstan on Thursday will win Pool B.
Seven teams have been divided into two groups, with the host country Thailand in Pool A with Chinese Taipei and Australia. The two best teams from each group will advance to the semifinals on Saturday, followed by the final on Sunday, all at Korat Chatchai Hall.
South Korea is trying to qualify for its third consecutive Olympics.
Iran hung tough against South Korea in the opening set, but leading 9-7, South Korea pulled ahead with four straight points. Lee Jae-yeong had seven of her 12 points in the first set, including three straight to give her team a 17-10 lead.
In the second set, South Korea led by as much as 18-4, with Kang scoring three straight aces in one stretch.
With reserves on the court for South Korea in the third set, Iran briefly led 10-9, before succumbing to the South Korean onslaught that generated five straight points.
Each of South Korea's 14 players got into action in this match.
Kang had nine of South Korea's 16 aces, while Iran managed just four.
In this photo provided by FIVB on Jan. 8, 2020, Yang Hyo-jin of South Korea (R) hits a spike past Haniyeh Mohtashamipour of Iran (C) in their Pool B match of the Asian Olympic women's volleyball qualification tournament at Korat Chatchai Hall in Nakhon Ratchasima, Thailand. (PHOTO NOT FOR SALE) (Yonhap)
jeeho@yna.co.kr
(END)


yna--2020-01-08--(2nd LD) FM, envoys discuss measures to ensure safety of S.Koreans in Middle East

Most of the South Koreans in Iraq live in Karbala and Bismayah , south of Baghdad , and are long @ @ @ @ @ Iraqi bases in al-Asad and Erbil , located in western and northern Iraq , respectively @ @ @ @ @ They are mostly employees of large construction firms involved in big facility projects .

(ATTN: CHANGES headline; ADDS details about changes in travel warning for Iran in para 5-6)
By Kim Seung-yeon
SEOUL, Jan. 8 (Yonhap) -- Foreign Minister Kang Kyung-wha instructed the ministry and ambassadors to Middle Eastern countries Wednesday to take active measures to ensure the safety of South Koreans in the region amid sharply rising tensions in the wake of Iran's missile attacks on American forces in Iraq.
Fear of a full-blown war is rising in the region as Iran fired over a dozen ballistic missiles against at least two Iraqi military bases hosting U.S.-led coalition personnel early Wednesday in retaliation for last week's U.S. killing of Gen. Qassem Soleimani.
Foreign Minister Kang Kyung-wha presides over a teleconference in Seoul with heads of South Korean missions in the Middle East on Jan. 8, 2020. (PHOTO NOT FOR SALE) (Yonhap)
Kang held an emergency video conference call with South Korea's ambassadors to Iran, Iraq and Israel, and instructed them to work closely together and with related government agencies to ensure the safety of South Koreans living or staying there, the ministry said in a release after the meeting.
She also instructed the officials to work around the clock for prompt actions, in case of any contingencies, as tensions are escalating in the region, the ministry said.
The ministry issued a "yellow" travel warning for parts of Iran, effective immediately, after a meeting of a task force team set up early this week to deal with the crisis. The yellow warning, calling for travel restraint, is the second level of the four-level travel alert system .
The "red" travel warning, which calls for withdrawal, in place for three other regions in Iran, will be maintained, it added. Travel to Iraq has been banned since 2007, but some 1,570 South Koreans live there on special government permits, mainly for business reasons.
Yet a withdrawal of South Koreans from Iraq is not being considered, a ministry official said, largely citing no immediate impact on or imminent danger present to the people there.
"We are not at the stage where we would consider a withdrawal (of South Koreans) as for now," the official said. "We're closely monitoring the situation and will devise measures stage by stage in consideration of various possibilities."
The government also held a separate interagency meeting of officials from related ministries, in which possible contingency plans are believed to have been discussed.
Most of the South Koreans in Iraq live in Karbala and Bismayah, south of Baghdad, and are long distances away from the targeted Iraqi bases in al-Asad and Erbil, located in western and northern Iraq, respectively, the official said. They are mostly employees of large construction firms involved in big facility projects.
Lee Sang-jin, deputy foreign minister for overseas Koreans and consular affairs, arrived in Jordan earlier in the day and will be in charge of on-site handling of the situation. He plans to hold a consular meeting in Amman on Thursday.
There are about 250 South Korean nationals in Iran, 700 in Israel, 10,930 in the United Arab Emirates (UAE) and 150 in Lebanon, according to the ministry's website.
This Reuters image taken from a video shot on Jan. 8, 2020, shows an explosion following missiles landing at what is believed to be Ain al-Asad Air Base in Iraq. (Yonhap)
elly@yna.co.kr
(END)


yna--2020-01-08--(3rd LD) Financial authorities remain vigilant over escalating Mideast tensions

`` The prevailing view is that the U.S.-Iran conflict will not lead to an all-out war , but there still @ @ @ @ @ volatility in the local financial and foreign exchange markets , '' BOK Deputy Gov .
@ @ @ @ @ statement released after an emergency meeting in Seoul .

(ATTN: UPDATES with comments by official of Financial Supervisory Service; CORRECTS figures of South Korean firms' financial exposure to Iran)
SEOUL, Jan. 8 (Yonhap) -- South Korea's financial authorities said Wednesday that they will maintain round-the-clock tabs on financial markets over the escalating military tensions in the Middle East.
Yoo Kwang-yeol, first senior deputy governor at the Financial Supervisory Service, instructed officials to take swift countermeasures in case of increased volatility.
The Bank of Korea and the Financial Services Commission also joined a separate government task force meeting to assess any fallout from the latest geopolitical risks and discuss countermeasures.
"The prevailing view is that the U.S.-Iran conflict will not lead to an all-out war, but there still remains the possibility of increased volatility in the local financial and foreign exchange markets," BOK Deputy Gov. Yoon Myun-shik said in a statement released after an emergency meeting in Seoul.
"The BOK will take market stabilization measures if necessary, while closely cooperating and sharing its information on market conditions with the government," the statement added.
The meetings followed reports of Iranian missile attacks against U.S. military bases in Iraq in retaliation against the U.S. killing of a top Iranian general late last week.
Global stock markets fluctuated after the United States said it had killed Qassem Soleimani, the head of Iran's elite Quds Force, in a drone attack.
Washington has warned of additional strikes against multiple Iranian targets in case of retaliation by the Middle Eastern country.
The local currency earlier dipped more than 10 won per dollar but recovered some ground after Seoul officials vowed swift steps in the case of increased volatility.
The won was trading at 1,171.65 won against the U.S. dollar as of 2:55 p.m., down 5.25 won from the previous session's close.
The benchmark Korea Composite Stock Price Index, or KOSPI, was down more than 1 percent.
Seoul's Finance Minister Hong Nam-ki earlier said the government will intervene if necessary, but insisted it was too soon to determine such a need.
"In the case of any abnormal situation, the government will cope with the situation in line with contingency plans," Hong told a meeting of economy-related ministers earlier in the day.
"It is still too early to determine if the Iran situation has directly led to the increased volatility in the foreign exchange and stock markets," he was quoted as saying.
South Korea said the financial exposure of its banks, securities firms and insurance companies to Iran was tallied at US$200,000 at the end of September last year.
bdk@yna.co.kr
(END)


yna--2020-01-08--(LEAD) S. Korean firms on alert over escalating Mideast tensions

`` To handle any volatile moves in oil prices , we have increased the hedging ratio of jet fuel since @ @ @ @ @ purchase less than 70 percent of fuel oil in the spot markets and the remainder @ @ @ @ @ markets , '' a spokeswoman for Korean Air Lines Co. said over the phone .

(ATTN: ADDS shipping firm's response in paras 10, 16, 23-25)
By Choi Kyong-ae
SEOUL, Jan. 8 (Yonhap) -- South Korean companies are scurrying to gauge the impact of mounting tensions in the Middle East on their businesses, with rising oil prices and heightened uncertainties posing a severe threat, industry sources said Wednesday.
Earlier in the day, Iran launched multiple missile attacks on U.S.-led forces in Iraq in retaliation for the U.S.' targeted killing of Iranian general Qassem Soleimani, one of the most important figures in the country's government.
The rekindled geopolitical tension has pushed up global oil prices over the past few days, ringing an alarm bell for South Korean companies ranging from oil refiners and petrochemicals firms to airlines.
The news sent oil prices higher, with the benchmark Dubai crude jumping 2.7 percent to US$69.65 per barrel over the past four trading sessions. WTI, another benchmark crude, rose 0.3 percent to $63.27 per barrel over the cited period.
This graphic illustrates the escalating tensions between the United States and Iran following the U.S. killing of a top Iranian general on Jan. 3 2020. (Yonhap)
Airlines and oil refiners are deemed to be the industries most vulnerable to the impact of the military conflict in Middle East, as a sharp increase in oil prices could hurt their bottom lines this year.
"To handle any volatile moves in oil prices, we have increased the hedging ratio of jet fuel since last year. We currently purchase less than 70 percent of fuel oil in the spot markets and the remainder at prefixed prices in futures markets," a spokeswoman for Korean Air Lines Co. said over the phone.
The national flag carrier said it sees no immediate impact on its business but is closely monitoring developments in the Middle East.
Jet fuel costs account for up to 30 percent of an airline's operating expenses.
Asiana Airlines Inc., the country's second-biggest airline after Korean Air, may see hefty spending on jet fuel as it purchases most of its fuel oil in the spot markets.
The two airlines said their flight schedules are not affected by the U.S.-Iran tensions as they don't operate routes through Iranian airspace.
The Federal Aviation Administration on Sunday issued emergency flight restrictions barring U.S. carriers from flying in areas of Iraqi, Iranian and some Persian Gulf airspace.
The country's four refiners -- SK Innovation Co., GS Caltex Corp., Hyundai Oilbank Co. and S-Oil Corp. -- said they don't expect any big impact on the supply of crude oil this year.
SK Innovation, GS Caltex, and Hyundai Oilbank stopped importing oil and condensate, also called natural gas liquids, from Iran last year. S-Oil, which is 63.4 percent owned by the Saudi Arabian Oil Company, buys most of its crude oil from Saudi Arabia.
They expressed concerns they cannot pass the whole burden of higher oil prices onto customers given the current economic slump and that will weigh on their earnings results for the year.
For oil-dependent companies, the real concern is that the Strait of Hormuz could be shut off for the first time if the situation deteriorates toward war.
The Strait of Hormuz, situated between Iran and Oman, is a strategically important waterway that links crude producers in the Middle East with key consumer markets around the world. About 30 percent of the world's crude oil consumption is shipped through the waterway.
This photo taken Jan. 8, 2020, shows SK Innovation's refining facilities in Ulsan, 410 kilometers southeast of Seoul amid mounting geopolitical tensions in Middle East due to saber rattling between Washington and Tehran. (Yonhap)
Builders and shipping companies are are also on alert over a possible ripple effect from heightened U.S.-Iran tensions.
Construction firms such as Hyundai Engineering & Construction Co. and GS Engineering & Construction Co. said an escalation in the tensions could disrupt their efforts to win local plant and infrastructure projects.
"Korean companies have mainly been involved in petrochemical plant and infrastructure projects in Qatar, Saudi Arabia and Kuwait. But oil producers won't place orders for plants if a war in the Middle Eastern region takes place," a Hyundai E&C official said.
The builders said they are closely watching the situation in the region before they deliver an exit order for their employees.
In Iraq, around 1,400 workers are deployed at 14 construction sites overseen by South Korean builders, though there are no construction projects under way by Korean companies, according to industry sources.
The Middle East has been a cash cow for South Korean construction companies, but they are currently struggling with falling overseas orders.
Last year, local construction firms are estimated to have bagged $21 billion worth of overseas orders, sharply down from $32.1 billion in 2018 and $29 billion in 2017, the sources said.
Hyundai Merchant Marine Co., the country's leading shipping firm, sees a possible closure of the Strait of Hormuz as the biggest threat to its cargo business. It operates 13-14 ships, including eight container carriers, on the Asia-Middle East route.
"Last year, we could unload cargoes for Iranian clients at ports of Saudi Arabia and Dubai for their pickup as Iranian ports were not accessible due to U.S. economic sanctions on Iran. If the waterway is shut off, we cannot reach the Saudi Arabian and Dubai ports, resulting in big losses in our business," a Hyundai Merchant spokesman said.
Government officials said Wednesday the government is drawing up measures to minimize any impact on Korean industries.
On Wednesday, SK Innovation shares plunged 5.2 percent to 137,000 won, Korean Air fell 2.1 percent to 26,300 won, Hyundai E&C shed 5.2 percent to reach 37,650 won, and Hyundai Merchant Marine declined 3.5 percent to 3,765 won. The broader KOSPI fell 1.1 percent.
kyongae.choi@yna.co.kr
(END)


yna--2020-01-08--(LEAD) S. Korea reports suspected case of mysterious pneumonia

KCDC said it has tightened monitoring of people entering the country , as well as of those around her and @ @ @ @ @ advised travelers going to Wuhan to avoid contact with animals and birds and take extra @ @ @ @ @

(ATTN: UPDATES with more details throughout; CHANGES photo)
SEOUL, Jan. 8 (Yonhap) -- South Korea on Wednesday reported a suspected case of a mysterious pneumonia-like illness that has been spreading in China, the public health and safety agency said.
According to the Korea Centers for Disease Control and Prevention (KCDC), a 36-year-old Chinese woman who had visited the city of Wuhan in Hubei Province last month showed symptoms of the illness.
The patient has been isolated and is undergoing treatment after going into a local hospital in Dongtan, some 50 kilometers south of Seoul, on Tuesday.
This image provided by KCDC informs people to be on guard against mysterious pneumonia-like illness cases being reported in China. (PHOTO NOT FOR SALE) (Yonhap)
China has been grappling with people who have shown pneumonia-like symptoms such as mild-to-high fever, throat swelling and coughing in recent weeks. Some patients have complained of breathing difficulties, with doctors in China trying to determine what the disease is.
"The person is not suffering from any serious ill health," KCDC said. The center said that she is currently considered as a "patient under investigation" as an initial respiratory virus test turned out to be negative.
The health agency said that they are conducting more detailed tests to determine her state of health.
KCDC said it has tightened monitoring of people entering the country, as well as of those around her and medical personnel. It has advised travelers going to Wuhan to avoid contact with animals and birds and take extra care of personnel hygiene.
It has asked people to immediately report to doctors if they feel sick after their trips.
Beijing said earlier that the pneumonia-like illness does not seem to be transmitted between people.
yonngong@yna.co.kr
(END)


yna--2020-01-08--(LEAD) FM holds emergency video conference after Iran's counterstrike

Most of some 1,570 South Koreans in Iraq live in Karbala and Bismayah , south of Baghdad , and are @ @ @ @ @ targeted Iraqi bases in al-Asad and Erbil , located in western and northern Iraq , @ @ @ @ @ .
They are mostly employees of large construction firms involved in big facility projects .

(ATTN: RECASTS headline, lead with details of FM's video conference with heads of South Korean missions; UPDATES figures in last para)
By Kim Seung-yeon
SEOUL, Jan. 8 (Yonhap) -- Foreign Minister Kang Kyung-wha instructed the ministry and ambassadors to Middle Eastern countries Wednesday to take active measures to ensure the safety of South Koreans in the region amid sharply rising tensions in the wake of Iran's missile attacks on American forces in Iraq.
Fear of a full-blown war is rising in the region as Iran fired over a dozen ballistic missiles against at least two Iraqi military bases hosting U.S.-led coalition personnel early Wednesday in retaliation for last week's U.S. killing of Gen. Qassem Soleimani.
Foreign Minister Kang Kyung-wha presides over a teleconference in Seoul with heads of South Korean missions in the Middle East on Jan. 8, 2020. (PHOTO NOT FOR SALE) (Yonhap)
Kang held an emergency video conference call with South Korea's ambassadors to Iran, Iraq and Israel, and instructed them to work closely together and with related government agencies to ensure the safety of South Koreans living or staying there, the ministry said in a release after the meeting.
She also instructed the officials to work around the clock for prompt actions, in case of any contingencies, as tensions are escalating in the region, the ministry said.
Earlier in the day, the foreign ministry held a meeting of its officials in Seoul to discuss measures to cope with the growing tensions. It launched a task force team Sunday to deal with the crisis around the clock.
Yet a withdrawal of South Koreans from Iraq is not being considered, a ministry official said, largely citing no immediate impact on or imminent danger present to the people there.
"We are not at the stage where we would consider a withdrawal (of South Koreans) as for now," the official said. "We're closely monitoring the situation and will devise measures stage by stage in consideration of various possibilities."
The government also held a separate interagency meeting of officials from related ministries, in which possible contingency plans are believed to have been discussed.
Most of some 1,570 South Koreans in Iraq live in Karbala and Bismayah, south of Baghdad, and are long distances away from the targeted Iraqi bases in al-Asad and Erbil, located in western and northern Iraq, respectively, the official said. They are mostly employees of large construction firms involved in big facility projects.
Lee Sang-jin, deputy foreign minister for overseas Koreans and consular affairs, arrived in Jordan earlier in the day and will be in charge of on-site handling of the situation. He plans to hold a consular meeting in Amman on Thursday.
There are about 250 South Korean nationals in Iran, 700 in Israel, 10,930 in the United Arab Emirates (UAE) and 150 in Lebanon, according to the ministry's website.
This Reuters image taken from a video shot on Jan. 8, 2020, shows an explosion following missiles landing at what is believed to be Ain al-Asad Air Base in Iraq. (Yonhap)
elly@yna.co.kr
(END)


yna--2020-01-08--S. Korea reports suspected case of mysterious pneumonia

According to the Korea Centers for Disease Control and Prevention ( KCDC ) , a 36-year-old Chinese woman who had @ @ @ @ @ in Hubei Province showed symptoms of the illness .

SEOUL, Jan. 8 (Yonhap) -- South Korea on Wednesday reported a suspected case of a mysterious pneumonia-like illness that has been spreading in China, the public health and safety agency said.
According to the Korea Centers for Disease Control and Prevention (KCDC), a 36-year-old Chinese woman who had visited the city of Wuhan in Hubei Province showed symptoms of the illness.
The patient has been isolated and is undergoing treatment after going into a local hospital on Tuesday.
China has been grappling with people who have shown pneumonia-like symptoms such as fever, throat swelling and coughing in recent weeks.
"The person is not suffering from any serious ill health," the KCDC said.
It said measures have been taken to tighten monitoring of people entering the country.
yonngong@yna.co.kr
(END)


yna--2020-01-08--S. Korean firms on alert over escalating Mideast tensions

By Choi Kyong-ae
SEOUL, Jan. 8 (Yonhap) -- South Korean companies are scurrying to gauge the impact of mounting tensions in the Middle East on their businesses, with rising oil prices and heightened uncertainties posing a severe threat, industry sources said Wednesday.
Earlier in the day, Iran launched multiple missile attacks on U.S.-led forces in Iraq in retaliation for the U.S.' targeted killing of Iranian general Qassem Soleimani, one of the most important figures in the country's government.
The rekindled geopolitical tension has pushed up global oil prices over the past few days, ringing an alarm bell for South Korean companies ranging from oil refiners and petrochemicals firms to airlines.
The news sent oil prices higher, with the benchmark Dubai crude jumping 2.7 percent to US$69.65 per barrel over the past four trading sessions. WTI, another benchmark crude, rose 0.3 percent to $63.27 per barrel over the cited period.
This graphic illustrates the escalating tensions between the United States and Iran following the U.S. killing of a top Iranian general on Jan. 3 2020. (Yonhap)
Airlines and oil refiners are deemed to be the industries most vulnerable to the impact of the military conflict in Middle East, as a sharp increase in oil prices could hurt their bottom lines this year.
"To handle any volatile moves in oil prices, we have increased the hedging ratio of jet fuel since last year. We currently purchase less than 70 percent of fuel oil in the spot markets and the remainder at prefixed prices in futures markets," a spokeswoman for Korean Air Lines Co. said over the phone.
The national flag carrier said it sees no immediate impact on its business but is closely monitoring developments in the Middle East.
Asiana Airlines Inc., the country's second-biggest airline after Korean Air, may see hefty spending on jet fuel as it purchases most of its fuel oil in the spot markets.
The two airlines said their flight schedules are not affected by the U.S.-Iran tensions as they don't operate routes through Iranian airspace.
The country's four refiners -- SK Innovation Co., GS Caltex Corp., Hyundai Oilbank Co. and S-Oil Corp. -- said they don't expect any big impact on the supply of crude oil this year.
SK Innovation, GS Caltex, and Hyundai Oilbank stopped importing oil and condensate, also called natural gas liquids, from Iran last year. S-Oil, which is 63.4 percent owned by the Saudi Arabian Oil Company, buys most of its crude oil from Saudi Arabia.
They expressed concerns they cannot pass the whole burden of higher oil prices onto customers given the current economic slump and that will weigh on their earnings results for the year.
For oil-dependent companies, the real concern is that the Strait of Hormuz could be shut off for the first time if the situation deteriorates toward war.
The Strait of Hormuz, situated between Iran and Oman, is a strategically important waterway that links crude producers in the Middle East with key consumer markets around the world. About 30 percent of the world's crude oil consumption is shipped through the waterway.
This photo taken Jan. 8, 2020, shows SK Innovation's refining facilities in Ulsan, 410 kilometers southeast of Seoul amid mounting geopolitical tensions in Middle East due to saber rattling between Washington and Tehran. (Yonhap)
Local construction firms such as Hyundai Engineering & Construction Co. and GS Engineering & Construction Co. said heightened U.S.-Iran tensions could disrupt their efforts to win local plant and infrastructure projects.
"Korean companies have mainly been involved in petrochemical plant and infrastructure projects in Qatar, Saudi Arabia and Kuwait. But oil producers won't place orders for plants if a war in the Middle Eastern region takes place," a Hyundai E&C official said.
The builders said they are closely watching the situation in the region before they deliver an exit order for their employees.
In Iraq, around 1,400 workers are deployed at 14 construction sites overseen by South Korean builders, though there are no construction projects under way by Korean companies, according to industry sources.
The Middle East has been a cash cow for South Korean construction companies, but they are currently struggling with falling overseas orders.
Last year, local construction firms are estimated to have bagged $21 billion worth of overseas orders, sharply down from $32.1 billion in 2018 and $29 billion in 2017, the sources said.
On Wednesday, SK Innovation plunged 5.2 percent to 137,000 won, Korean Air fell 2.1 percent to 26,300 won and Hyundai E&C shed 5.2 percent to reach 37,650 won, all underperforming the broader KOSPI's 1.1 percent loss.
kyongae.choi@yna.co.kr
(END)


yna--2020-01-08--(LEAD) Prosecutors demand 23-year jail term for ex-President Lee Myung-bak

`` In consideration of the weight of the case and in comparison to other cases , the 15-year prison term @ @ @ @ @ it said .

(ATTN: ADDS reaction from Lee from paras 10-12)
SEOUL, Jan. 8 (Yonhap) -- The prosecution on Wednesday requested that an appeals court sentence former President Lee Myung-bak to 23 years in prison on bribery and embezzlement charges.
The requested sentencing by the prosecution is heavier than the 15-year jail term that a lower court handed down to Lee, president from 2008-2013, in October 2018.
The prosecution also demanded some 32 billion won (US$27.4 million) in fine and 16.3 billion won in forfeit for the ex-leader.
In March 2019, Lee was released on bail on health concerns after he was convicted of bribery and embezzlement in connection with his brother's auto parts company DAS.
Demanding the heavier jail term, the prosecution condemned Lee for not repenting of his wrongdoings and blaming others to avoid responsibility.
"The defendant hampered the constitutional value by abusing (presidential) power bestowed by the people as means to seek personal profits," the prosecution said.
"In consideration of the weight of the case and in comparison to other cases, the 15-year prison term is too light," it said.
A lower court found that Lee was the de facto owner of DAS and that he used his presidential power to benefit the firm and himself, including accepting a 5.9 billion-won bribe from Samsung.
Throughout his political career, Lee was dogged by suspicions over whether he is the real owner of DAS.
In a court hearing, Lee flatly denied the allegations.
"History will evaluate the merit and demerits of the Lee Myung-bak administration. The prosecution is making the past government out to be corrupt and distorting political assessments," Lee said.
Lee also repeated his claim that he is not the owner of DAS.
The Seoul High Court plans to deliver a ruling next month.
Former President Lee Myung-bak heads to a Seoul court on Jan. 8, 2020, to attend a hearing in which prosecutors demanded a 23-year jail term on bribery and embezzlement charges. (Yonhap)
sooyeon@yna.co.kr
(END)


yna--2020-01-08--KBO's saves leader sets record for largest annual salary increase

Ha , 29 , took a detour through the U.S. minor leagues and Japanese league to reach the KBO last @ @ @ @ @ had dabbled at pitching while in the minors for the Chicago Cubs .
He returned @ @ @ @ @ Tokyo Yakult Swallows in 2016 and converted to the mound for good with the Wyverns @

SEOUL, Jan. 8 (Yonhap) -- The reigning saves leader in South Korean baseball set the record for the biggest rate of annual increase in salary on Wednesday.
The SK Wyverns of the Korea Baseball Organization (KBO) said they've inked closer Ha Jae-hoon to a new one-year deal worth 150 million won (US$128,370).
Ha made the league minimum 27 million won in 2019 and received a record 455.6 percent raise after leading the KBO with 36 saves.
In this file photo from Oct. 14, 2019, Ha Jae-hoon of the SK Wyverns throws a pitch against the Kiwoom Heroes in the top of the ninth inning of Game 1 of the Korea Baseball Organization first-round playoff series at SK Happy Dream Park in Incheon, 40 kilometers west of Seoul. (Yonhap)
Current Toronto Blue Jays pitcher Ryu Hyun-jin held the previous record. While pitching for the Hanwha Eagles, Ryu saw his salary jump by 400 percent from 20 million won as a rookie in 2006 to 100 million won in his sophomore season.
Ha's 150 million won is also the largest salary for a second-year player, surpassing 120 million won earned by KT Wiz outfielder Kang Baek-ho in 2019.
Ha, 29, took a detour through the U.S. minor leagues and Japanese league to reach the KBO last season. The former outfielder had dabbled at pitching while in the minors for the Chicago Cubs. He returned to the outfield with the Tokyo Yakult Swallows in 2016 and converted to the mound for good with the Wyverns.
"I'd like to thank the team for handing me such a huge deal," Ha said in a statement released by the team. "I'll try my best to live up to expectations from the team and our fans."
KBO players are under team control for their first eight or nine years, depending on whether they've been drafted out of high school or college. They must sign one-year deals until they reach free agency.
jeeho@yna.co.kr
(END)


yna--2020-01-08--Disney's 'Frozen 2' becomes 2nd most-viewed foreign film in S. Korea

`` Frozen 2 '' is about a journey beyond the kingdom of Arendelle three years after the events of the @ @ @ @ @ mysterious voice calls out to Elsa , she , Anna , Kristoff and Olaf travel @ @ @ @ @ Elsa 's magical power and save the endangered kingdom .

SEOUL, Jan. 8 (Yonhap) -- Walt Disney's film "Frozen 2" became the second most-watched foreign film in South Korean history on Wednesday, tallying over 13.62 million admissions.
The animated flick set the record earlier in the day based on a real-time box-office tally from the Korean Film Council, beating the previous No. 2 "Avatar," which sold 13.48 million tickets from 2009 to 2010.
Released on Nov. 21 in South Korea, the film has been trailing the all-time most-watched foreign film in the country, Marvel's "Avengers: Endgame." It has risen to the sixth spot on the most-viewed list for all films.
It has generated box-office revenue of US$451.41 million in North America and US$1.32 billion worldwide.
"Frozen 2" is about a journey beyond the kingdom of Arendelle three years after the events of the first film. As a mysterious voice calls out to Elsa, she, Anna, Kristoff and Olaf travel to discover the origin of Elsa's magical power and save the endangered kingdom.
This image, provided by Walt Disney Company Korea, the local film distributing unit of the U.S. giant, shows a poster for the animated film "Frozen 2." (Yonhap)
namsh@yna.co.kr
(END)


yna--2020-01-08--(2nd LD) Defense ministry holds emergency meeting over Iran conflict

No changes in the U.S .
Forces Korea 's posture have been made so far with regards to the latest @ @ @ @ @ versed on the issue said , adding that chances seem low as of now for @ @ @ @ @ be reassigned to missions in the Middle East .

(ATTN: RECASTS headline, lead as ministry holds meeting; ADDS more details in paras 2-9)
By Oh Seok-min
SEOUL, Jan. 8 (Yonhap) -- Defense Minister Jeong Gyeong-doo and senior military leaders held an emergency meeting on Wednesday and discussed ways to ensure the safety of its troops and citizens in the Middle East following Iran's missile attacks on U.S. troops in Iraq, the defense ministry said.
Early Wednesday, Iran fired missiles targeting two Iraqi bases that house U.S. troops in retaliation for the U.S. airstrike last week that killed a top Iranian general. Iran claimed that the attack killed at least 80 U.S. soldiers.
During the meeting, the officials assessed the possible impact of the incident on the Korean people and troops in the Middle East, as well as its potential fallout for the security situation on the Korean Peninsula, according to the ministry.
Jeong "instructed to closely review and be fully prepared for all circumstances regarding the latest incident that could affect our people and the troops," the ministry said in a release.
Currently, around 1,570 South Koreans reside in Iraq, but they live in the southern parts of Baghdad, located away from the targeted Iraqi bases, according to a foreign ministry official.
South Korea deploys around 450 troops in the Middle East for peacekeeping missions -- around 300 service personnel affiliated with the Dongmyeong Unit in Lebanon, and 150 troops in the Akh Unit in the United Arab Emirates.
The minister also called for maintaining staunch readiness posture and discipline in close coordination with the United States, according to the ministry.
Joint Chiefs of Staff (JCS) Chairman Gen. Park Han-ki and Vice Defense Minister Park Jae-min also attended the meeting.
Earlier, a ministry official said the Seoul government has exchanged related information with the U.S. defense department, and is keeping close tabs on how things will go down the road.
The government has also been working to grasp the possible requirement of military equipment to protect and, if necessary, bring home its citizens residing in the highly volatile region, according to the official.
The military also called for the strengthening of safety measures and tightening vigilance for its troops stationed in the Middle East, another military officer noted.
Citizens watch live news alerts on Iran's firing of missiles at U.S. bases in Iraq at Seoul Station in Seoul on Jan. 8, 2020. (Yonhap)
No changes in the U.S. Forces Korea's posture have been made so far with regards to the latest incident, an official well versed on the issue said, adding that chances seem low as of now for U.S. troops stationed here to be reassigned to missions in the Middle East.
The USFK is under the U.S. Indo-Pacific Command, and most Middle Eastern areas belong to the responsibility of the U.S. Central Command.
According to the aviation tracker, Aircraft Spots, the U.S. RC-135S Cobra Ball surveillance aircraft left Kadena Air Base in Japan to the Offutt base in Nebraska earlier this week when tensions between Washington and Teheran further flared up following the U.S.' deadly attack.
The aircraft operated by the U.S. Air Force arrived at the base in Japan on Dec. 20 ahead of the anticipated "Christmas gift" threat by North Korea in order to assist the existing Cobra Ball with its missions to monitor North Korea, it tweeted.
This Reuters image taken from a video shot on Jan. 8, 2020, shows an explosion following missiles landing at what is believed to be Ain al-Asad Air Base in Iraq. (Yonhap)
graceoh@yna.co.kr
(END)


Yonhap News Summary

`` The voting age reduction is meaningful , and we will provide democratic citizen education even to students who have @ @ @ @ @ '' Yoo , who doubles as the deputy prime minister for social affairs , said @ @ @ @ @ the government complex in Sejong , central South Korea , on Tuesday .

The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.
----------------
(CES 2020) Samsung sells at least 400,000 Galaxy Fold smartphones in 2019: exec
LAS VEGAS -- Samsung Electronics Co., sold at least 400,000 Galaxy Fold smartphones last year, the company's mobile business chief said Tuesday, denying earlier media reports that it sold one million foldable handsets.
"I think we've sold 400,000 to 500,000 Galaxy Fold smartphones," Koh Dong-jin, President and CEO of Samsung's IT & Mobile Communication division, told reporters at Consumer Electronics Show (CES) 2020 in Las Vegas.
----------------
Prosecutors demand 23-year jail term for ex-President Lee Myung-bak
SEOUL -- State prosecutors on Wednesday requested that an appeals court sentence former President Lee Myung-bak to 23 years in prison on bribery and embezzlement charges.
The requested sentencing by the prosecution is heavier than the 15-year jail term that a lower court handed down to Lee, president from 2008-2013, in October 2018.
----------------
S. Korea defeats India for 1st win at Olympic men's volleyball qualifying tournament
SEOUL -- South Korea beat India in straight sets for its first victory at the Asian Olympic men's volleyball qualifying tournament on Wednesday in China.
Jung Ji-seok led the way with 12 points, as the 24th-ranked South Korea got past the 131st-ranked India 3-0 (25-19, 25-20, 25-23) in Pool B action at Jiangmen Sports Center Gymnasium in Jiangmen, China.
----------------
Ministry to widen democratic citizen education following voting age lowering
SEJONG -- Educational authorities will make sure high school students can receive education about how to exercise their rights as democratic citizens after the country's minimum voting age was lowered to 18 last month, Education Minister Yoo Eun-hae has said.
"The voting age reduction is meaningful, and we will provide democratic citizen education even to students who have yet to receive suffrage," Yoo, who doubles as the deputy prime minister for social affairs, said in a press conference near the government complex in Sejong, central South Korea, on Tuesday.
----------------
N.K. official blames S. Korea for 'serious debacle' in inter-Korean relations
SEOUL -- A North Korean official lashed out at South Korea on Wednesday for causing a "serious debacle" in inter-Korean relations, calling for an end to joint military drills with the United States as a first step to end its "paranoia."
Ri Kum-chol, vice chairman of the central committee of the Korean Social Democratic Party, a minor political party, made the remarks in an interview carried by Uriminzokkiri TV, a North Korean propaganda outlet.
----------------
(2nd LD) LG Electronics expects poor Q4 earnings
SEOUL -- LG Electronics Inc. on Wednesday estimated lower than expected earnings for the fourth quarter of last year due to its sluggish smartphone business, but its sales reached a record-high last year.
In an earnings guidance, the South Korean electronics maker said it expects 98.6 billion won (US$84.2 million) in operating income during the Oct.-Dec. period, up 30.3 percent from a year earlier.
----------------
(LEAD) Cheong Wa Dae says it's receiving real-time briefings on Iran situations
SEOUL -- Cheong Wa Dae said Wednesday it's keeping a close watch on the current situations involving Iran, taking relevant reports on a real-time basis.
With regard to what's going on there, the government, led by the Ministry of Foreign Affairs, is "in close consultations" with local authorities with a top priority on the security and safety of South Korean nationals, Cheong Wa Dae spokesperson Ko Min-jung said in a statement.
----------------
(LEAD) SK hynix hits all-time high on improved market outlook
SEOUL -- Shares in SK hynix Inc., the world's second-largest DRAM maker, traded at an all-time high on Wednesday on expectations that the chipmaking sector is set to improve this year after bottoming out in the fourth quarter of last year.
SK hynix finished at 97,400 won (US$83.18) on Wednesday, up 3.62 percent from the previous session's close, bucking a 1.11 percent dip in the benchmark KOSPI.
----------------
Military closely watching N.K. moves on leader Kim's birthday: Seoul officials
SEOUL -- No unusual military moves in North Korea have been detected so far, officials said Wednesday, amid speculation that Pyongyang could undertake provocations to mark leader Kim Jong-un's birthday.
But the military has maintained a staunch readiness posture in case of unforeseen provocations, they added.
----------------
(5th LD) Samsung beats Q4 earnings estimate, set for better performance in 2020
SEOUL -- Samsung Electronics Co. expected market estimate-beating fourth-quarter earnings Wednesday on a slight recovery in chip prices but suffered its worst performance in four years in 2019 due to a prolonged slump in the chipmaking sector.
The world's No. 1 memory chipmaker estimated its fourth-quarter operating income at 7.1 trillion won (US$6.1 billion), down 34.26 percent from a year earlier, but the reading was well above the median market estimate of 6.5 trillion won, as chip prices bottomed out and its smartphones drew better-than-expected market response.
(END)


yna--2020-01-08--(LEAD) Gangwon's snow, ice festivals endangered by unseasonably warm winter

`` All measures have been taken to protect the festival venue but we have made a difficult decision in the @ @ @ @ @ We have n't yet considered cancelling the festival and will instead make all possible follow-up @ @ @ @ @ , head of Hwacheon County , said .

(ATTN: UPDATES with second postponement of Hwacheon ice fishing festival and festival program changes in Hongcheon in paras 9-11, 16-19; CHANGES photos)
SEOUL, Jan. 8 (Yonhap) -- Unseasonably warm winter weather is wreaking havoc for the organizers of various ice and snow festivals set to begin later this month in the mountainous northeastern province of Gangwon.
Traditionally, Gangwon, located east of Gyeonggi Province, which surrounds Seoul, is a mecca of winter sports and snow and ice themed festivals, due to its frigid winter weather.
This winter, however, an extended spell of unseasonably warm weather has hit the province hard, embarrassing the organizers of wintertime festivals, including the Hwacheon Sancheoneo (Mountain Trout) Ice Festival.
The Hwacheon River, the venue of the 2020 Hwacheon Sancheoneo Ice Festival's ice fishing, is flooded with muddy water after heavy rainfall in Hwacheon, Gangwon Province, on Jan. 8, 2020. (Yonhap)
According to the Korea Meteorological Administration (KMA), daily lows in Gangwon have ranged from 2 C to 8 C, with the daily high temperature rising to 9 C in some regions of the province on Wednesday.
The temperatures are about 10 C above the province's 30-year average for January, the KMA noted.
Adding to the woes of festival organizers, heavy rain of 30 to 120 millimeters has soaked the province in recent days, putting festival features made of ice and snow at risk of melting.
In Hwacheon, about 120 kilometers northeast of Seoul, county government officials have been making all-out efforts to preserve the ice on the ice fishing venue of the 2020 Hwacheon Sancheoneo Ice Festival ahead of its formal opening slated for Saturday.
The ice fishing festival was originally scheduled to kick off last Saturday but was delayed by one week due to the warm conditions.
On Wednesday afternoon, Hwacheon's county government and festival organizers decided to again postpone the opening of the ice fishing festival, saying they plan to announce a rescheduled opening date after a meeting of relevant officials on Saturday.
About 75 mm of rain fell in Hwacheon over three days from Monday afternoon, flooding the ice fishing venue with muddy water.
"All measures have been taken to protect the festival venue but we have made a difficult decision in the face of natural disaster. We haven't yet considered cancelling the festival and will instead make all possible follow-up measures," Choi Moon-soon, head of Hwacheon County, said.
On Tuesday, about 500 civil servants in Hwacheon were mobilized to prevent rain from flowing into the festival's ice fishing site by using drainage pumps and other tools.
Festival organizers had planned to create about 20,000 fishing holes on a frozen river covering an area about the size of 26 soccer fields, with about 200 tons of "sancheoneo," a species of trout that only lives in very clean fresh water, to be released during the festival.
County officials have stacked plastic and sandbags around the ice fishing site. They also covered ice sculptures for display in a park during the ice fishing festival.
Hongcheon River, the venue of an ice fishing festival set to open this week, is full of muddy water in this photo provided by Hongcheon County after heavy rainfall in Hongcheon, Gangwon Province, on Jan. 8, 2020. (PHOTO NOT FOR SALE) (Yonhap)
A similar ice fishing festival being prepared in the county of Hongcheon, 100 km east of Seoul -- the Hongcheon Ggong Ggong Festival -- is also in trouble.
Ice on the Hongcheon River, the festival venue, was about 20 centimeters thick until recently, but most of the river ice melted as about 60 mm of rain fell in Hongcheon from Monday to Wednesday.
The festival was originally scheduled to open last Friday but has been postponed by a week. Its organizers say the festival will open on Friday as scheduled, but most of the events will take place indoors.
Festival organizers said indoor fishing will replace ice fishing and bare-hand fishing will also be recommended for visitors.
"The ice fishing venue was damaged by heavy rainfall but its outdoor facilities will be normalized when the river freezes again. The festival will open Friday as planned, with a focus on indoor fishing and experience events," said a Hongcheon official.
The unusually warm winter and dearth of snow has also beleaguered the organizers of the Mount Taebak Snow Festival scheduled to kick off in the city of Taebaek, about 270 km east of Seoul, on Friday.
Municipal officials have already covered 55 snow sculptures being created at Taebaeksan National Park with plastic sheeting, and snow sculpture artists have suspended their work there.
Ice sculptures to be displayed during the Mount Taebak Snow Festival in Taebaek, Gangwon Province, are covered with plastic sheeting amid rainfall on Jan. 7, 2020. (Yonhap)
"We're embarrassed at the rainfall ahead of the opening of the snow festival. But we're awaiting good news soon as snow is forecast for next week," a Taebaek municipal official said.
The 2020 PyeongChang Trout Festival began late last month in PyeongChang, about 180 km east of Seoul, but its organizers have decided to suspend the operation of its ice fishing site until Friday because of the warm weather.
ycm@yna.co.kr
(END)


yna--2020-01-08--(LEAD) Seoul stocks sink over 1 pct on Mideastern concerns, Korean won dips

`` The geopolitical risks have heightened following Iran 's missile attack on U.S. military bases .
However , their impact @ @ @ @ @ expected to be limited , and one of the reasons is because President Donald Trump @ @ @ @ @ 'hard talk , but soft stick ' ( approach ) , '' NH Investment & @ @ @ @ @ .

(ATTN: ADDS bond yields at bottom, photo)
By Byun Duk-kun
SEOUL, Jan. 8 (Yonhap) -- South Korean stocks dipped more than 1 percent Wednesday on escalating military tensions in the Middle East that are feared to push up global oil prices. The Korean won fell sharply against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 24.23 points, or 1.11 percent, to close at 2,151.31, after dipping to an intraday low of 2,137.72 points. Trading volume was heavy at nearly 900 million shares worth over 8.6 trillion won (US$7.34 billion), with losers greatly outnumbering winners 847 to 48.
The index remained sharply lower throughout the session after getting off to a rough start on reports of Iran attacking several U.S. military bases in Iraq in response to the U.S. killing Qassem Soleimani.
In this photo, taken Jan. 8, 2020, dealers at a KEB Hana Bank trading room in Seoul watch their computer monitors as the benchmark KOSPI dips more than 1 percent following Iran's missile attacks against U.S. military bases in Iraq. (Yonhap)
The head of Iran's elite Quds Force was killed in Baghdad late last week in a U.S. drone attack.
Washington has yet to officially confirm any casualties from Iran's missile attacks but earlier said any attack by Iran would be met by additional strikes against multiple Iranian targets.
Market observers here, however, insisted the U.S.-Iran conflict will likely be short-lived.
"The geopolitical risks have heightened following Iran's missile attack on U.S. military bases. However, their impact on the financial market is expected to be limited, and one of the reasons is because President Donald Trump is considered to use a 'hard talk, but soft stick' (approach)," NH Investment & Securities analyst Cho Yeon-ju said.
Yoon Yeo-sam, an analyst at Meritz Securities, agreed the U.S. president is unlikely to commit to a full-fledged war with Iran, especially ahead of the presidential election this year.
"I believe it will end up being a short-term conflict," Yoon said.
Foreigners remained net buyers for a fourth consecutive session, purchasing a net 259.5 billion won, while institutions offloaded a net 239.6 billion won. Retail investors dumped a net 19.5 billion won.
Most large caps ended up in negative terrain despite market bellwether Samsung Electronics greatly advancing on an estimate-beating fourth-quarter earnings forecast.
Samsung Electronics surged 1.79 percent to close at 56,800 won, while No. 2 chipmaker SK hynix spiked 3.62 percent to an all-time high of 97,400 won.
Top automaker Hyundai Motor, on the other hand, plunged 3.03 percent to 112,000 won, with its smaller affiliate Kia Motors tumbling 1.78 percent to 41,300 won.
Oil-reliant companies suffered a setback from the mounting tension in the Middle East.
Leading chemical company LG Chem dipped 2.89 percent to 302,000 won, while top refiner SK Innovation plunged 5.19 percent to 137,000 won.
The Korean won closed at 1,170.80 won to the dollar, down 4.40 won from the previous session's close.
The local currency earlier dipped more than 1 percent against the dollar but recovered ground after local authorities vowed swift measures to help stabilize the market if necessary.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 3.2 basis points to reach 1.363 percent, while the return on the benchmark five-year government bond gained 4.0 basis points, hitting 1.460 percent.
bdk@yna.co.kr
(END)


yna--2020-01-08--(CES 2020) Samsung sells at least 400,000 Galaxy Fold smartphones in 2019: exec

In December , Sohn Young-kwon , a Samsung executive who leads Samsung Strategy and Innovation Center , said at a @ @ @ @ @ 1 million Galaxy Folds , but the company later denied the sales figure , saying @ @ @ @ @ with the company 's initial sales target for 2019 .

By Joo Kyung-don
LAS VEGAS, Jan. 7 (Yonhap) -- Samsung Electronics Co., sold at least 400,000 Galaxy Fold smartphones last year, the company's mobile business chief said Tuesday, denying earlier media reports that it sold one million foldable handsets.
"I think we've sold 400,000 to 500,000 Galaxy Fold smartphones," Koh Dong-jin, President and CEO of Samsung's IT & Mobile Communication division, told reporters at Consumer Electronics Show (CES) 2020 in Las Vegas.
Koh's comment confirms Samsung's earlier answer refuting media reports that the company sold 1 million Galaxy Folds in 2019.
Koh Dong-jin (R), President and CEO of Samsung's IT & Mobile Communication division, explains the company's products to SK Telecom CEO Park Jung-ho at Samsung booth at Consumer Electronics Show (CES) 2020 in Las Vegas on Jan. 7, 2020. (Yonhap)
In December, Sohn Young-kwon, a Samsung executive who leads Samsung Strategy and Innovation Center, said at a conference that the company sold 1 million Galaxy Folds, but the company later denied the sales figure, saying Sohn may confused the number with the company's initial sales target for 2019.
The Galaxy Fold, which has a 7.3-inch screen that users can fold horizontally like a book, officially went on sale in September with a price tag of around US$2,000.
Koh Dong-jin (R), President and CEO of Samsung's IT & Mobile Communication division, walks with LG Uplus CEO Ha Hyun-hwoi at Samsung booth at Consumer Electronics Show (CES) 2020 in Las Vegas on Jan. 7, 2020. (Yonhap)
Meanwhile, Koh said he will introduce Samsung's new "clamshell" foldable smartphone during CES 2020, which runs through Friday.
On the opening day of the world's largest tech expo, Koh was spotted explaining Samsung products to chiefs of South Korean mobile carriers -- SK Telecom CEO Park Jung-ho and LG Uplus CEO Ha Hyun-hwoi.
Samsung's new foldable smartphone is scheduled to be unveiled next month. The new smartphone is expected to boast a 6.7-inch display and becomes nearly square when folded.
kdon@yna.co.kr
(END)


yna--2020-01-08--Prosecutors demand 23-year jail term for ex-President Lee Myung-bak

SEOUL, Jan. 8 (Yonhap) -- State prosecutors on Wednesday requested that an appeals court sentence former President Lee Myung-bak to 23 years in prison on bribery and embezzlement charges.
The requested sentencing by the prosecution is heavier than the 15-year jail term that a lower court handed down to Lee, president from 2008-2013, in October 2018.
The prosecution also demanded some 32 billion won (US$27.4 million) in fine and 16.3 billion won in forfeit for the ex-leader.
In March 2019, Lee was released on bail on health concerns after he was convicted of bribery and embezzlement in connection with his brother's auto parts company DAS.
Demanding the heavier jail term, the prosecution condemned Lee for not repenting of his wrongdoings and blaming others to avoid responsibility.
"The defendant hampered the constitutional value by abusing (presidential) power bestowed by the people as means to seek personal profits," the prosecution said.
"In consideration of the weight of the case and in comparison to other cases, the 15-year prison term is too light," it said.
A lower court found that Lee was the de facto owner of DAS and that he used his presidential power to benefit the firm and himself, including accepting a 5.9 billion-won bribe from Samsung.
Throughout his political career, Lee had been dogged by suspicions over whether he was the real owner of DAS. Lee denied the allegation.
The Seoul High Court plans to deliver a ruling next month.
Former President Lee Myung-bak heads to a Seoul court on Jan. 8, 2020, to attend a hearing in which prosecutors demanded a 23-year jail term on bribery and embezzlement charges. (Yonhap)
sooyeon@yna.co.kr
(END)


yna--2020-01-09--U.S. cites progress in defense cost-sharing talks with S. Korea

`` I would assess that we are certainly a little further afield than we were during the last round , @ @ @ @ @ told reporters on background .
`` Why ?
Probably because the calendar has certainly helped @ @ @ @ @ but also in Seoul .
There 's also been , I would say , a @ @ @ @ @ recognition or reality check amongst South Korea as to how serious we are and stalwart @ @ @ @ @ on burden-sharing . ''

By Lee Haye-ah
WASHINGTON, Jan. 8 (Yonhap) -- South Korea and the United States have made progress in their negotiations on sharing the costs for the stationing of American troops on the peninsula, a senior U.S. official said Wednesday, with the two sides expected to resume talks as early as next week.
Washington initially demanded a fivefold increase in Seoul's annual contribution to the upkeep of the 28,500 troops to nearly US$5 billion. After strong resistance from Seoul, the allies have reportedly reached a compromise of sorts ahead of the sixth round of negotiations in Washington.
This AFP file photo shows the U.S. Department of State in Washington. (Yonhap)
"I would assess that we are certainly a little further afield than we were during the last round," the State Department official told reporters on background. "Why? Probably because the calendar has certainly helped not only in Washington, but also in Seoul. There's also been, I would say, a little bit more of a recognition or reality check amongst South Korea as to how serious we are and stalwart we are in seeking partnership on burden-sharing."
The previous cost-sharing deal, known as the Special Measures Agreement, expired at the end of last year, leaving the two sides pressed for time to strike a new one.
The negotiations raised concerns of a rift in the decadeslong alliance, with South Koreans holding rallies to protest what they viewed as Washington's excessive demands.
During one round of negotiations in Seoul last year, the U.S. delegation cut the talks short after South Korea refused to accept Washington's demands.
The official sought to allay those concerns.
"Our alliance with South Korea is ironclad," he said. "While we are having a very serious conversation with our South Korean counterparts about what this means as far as their ability to further share the burden on our presence on the peninsula, it does not mean we're walking away from our alliance."
hague@yna.co.kr
(END)


yna--2020-01-09--Seoul stocks open sharply higher on eased Mideast concerns

U.S. President Donald Trump on Wednesday ( U.S. time ) said no U.S. personnel were killed or injured in the @ @ @ @ @ will respond with economic sanctions instead of military attacks .

SEOUL, Jan. 9 (Yonhap) -- South Korean stocks opened significantly higher Thursday after the United States appeared to back away from military options against Iran. The local currency jumped sharply against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) surged 28.42 points, or 1.32 percent, to reach 2,179.73 in the first 15 minutes of trading.
The rebound came one day after the index plunged more than 1 percent on escalating military tensions in the Middle East following Iran's missile attacks on U.S. military bases in Iraq.
U.S. President Donald Trump on Wednesday (U.S. time) said no U.S. personnel were killed or injured in the attacks, adding his country will respond with economic sanctions instead of military attacks.
The U.S. stock market closed on an upbeat note Wednesday, with the Dow Jones industrial average adding 161.41 points, or 0.56 percent.
Most large caps were in positive terrain in Seoul.
Chipmakers continued to build up gains. Market kingpin Samsung Electronics surged 1.41 percent, while No. 2 chipmaker SK hynix advanced 0.72 percent.
Top automaker Hyundai Motor advanced 1.34 percent, with its smaller affiliate Kia Motors gaining 0.36 percent.
The local currency was trading at 1,161.35 won to the dollar, sharply up 9.45 won, or 0.81 percent, from the previous session's close.
bdk@yna.co.kr
(END)


yna--2020-01-09--Samsung Engineering-led consortium wins 4.3 tln-won plant order from Algeria

Under a deal signed with Algeria 's state oil firm Sonatrach , Samsung Group 's plant building unit and Spain @ @ @ @ @ the facility that will be capable of refining about 110,000 barrels of crude oil per @ @

SEOUL, Jan. 9 (Yonhap) -- Samsung Engineering Co. said Thursday its consortium has received a 4.3 trillion-won (US$3.7 billion) order to build an oil refinery in Algeria.
Under a deal signed with Algeria's state oil firm Sonatrach, Samsung Group's plant building unit and Spain's Tecnicas Reunidas will build the facility that will be capable of refining about 110,000 barrels of crude oil per day.
Samsung Engineering said it will take 52 months to complete the facility in Hassi Messaoud, about 600 kilometers southwest of Algiers.
Samsung Engineering said its stake in the project is worth about 1.9 trillion won and the rest is held by Spain's Tecnicas Reunidas.
entropy@yna.co.kr
(END)


yna--2020-01-09--Gov't to lift regulation on protected military areas near border

`` The areas near the border where military facilities are concentrated will be prioritized , while ( the agreement ) @ @ @ @ @ , Chungju in North Chungcheong Province and Changwon in South Gyeongsang Province , '' Cho @ @

SEOUL, Jan. 9 (Yonhap) -- The government and the ruling Democratic Party (DP) on Thursday agreed to lift a regulation designating massive patches of land near the border for protection.
The agreement covers areas spanning 77 million square meters, roughly 27 times larger than the financial district of Yeouido, which were categorized as protected areas for their close distance to military facilities.
"Of the areas where the regulation will be lifted, 79 percent are located in Gangwon Province, while 19 percent are in Gyeonggi Province," DP Rep. Cho Jung-sik said.
"The areas near the border where military facilities are concentrated will be prioritized, while (the agreement) also includes areas in Incheon, Chungju in North Chungcheong Province and Changwon in South Gyeongsang Province," Cho said.
The government plans to consult with the military and provincial governments on carrying out the agreement.
Defense Minister Jeong Kyeong-doo (2nd from left) speaks at a meeting between the government and the ruling Democratic Party on lifting a regulation on protected areas at a National Assembly building in Seoul on Jan. 9, 2020. (Yonhap)
mlee@yna.co.kr
(END)


yna--2020-01-09--S. Korea faces more trade barriers amid growing protectionism

In November , the U.S. Department of Commerce launched probes to determine whether forged steel fittings from South Korea are @ @ @ @ @ 's top economy .
Last month , Pakistan also launched an anti-dumping probe against South @ @ @ @ @ chemical product .

SEJONG, Jan. 9 (Yonhap) -- South Korea faced more trade barriers last year amid growing protectionism around the globe spearheaded by the U.S.-China trade war, with steel and chemical industries being primary victims, data showed Thursday.
The number of newly added import regulations targeting South Korean goods reached 41 cases in 2019, doubling from just 20 cases a year earlier, according to the data compiled by the Korea International Trade Association.
The trade barrier includes anti-dumping tariff, countervailing duty and safeguard measures.
As of this month, 29 countries implemented a total of 211 cases of import regulations against South Korean products, with 41 of them being currently under investigation, the data showed.
Washington imposed the highest number of trade regulations targeting South Korea at 40 cases, trailed by India, China and Turkey with 32, 17 and 15 cases, respectively.
By segment, the steel and metal industry accounted for nearly half at 98 cases, while other major products included chemicals, plastics and textiles.
In November, the U.S. Department of Commerce launched probes to determine whether forged steel fittings from South Korea are being dumped in the world's top economy. Last month, Pakistan also launched an anti-dumping probe against South Korean phthalic anhydride, a chemical product.
South Korea's overall exports, meanwhile, nose-dived 10.3 percent in 2019 from a year earlier.
colin@yna.co.kr
(END)


KOSPI 2,182.20 UP 30.89 points (open)

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


KOSDAQ 657.01 UP 16.07 points (open)


Thursday's weather forecast

SEOUL , Jan. 9 ( Yonhap ) -- The following is the weather forecast for South Korea 's 12 major @ @ @ @ @ .


yna--2020-01-09--Dollar opens at 1,162.0 won DN from 1,170.8 won


yna--2020-01-09--(EDITORIAL from Korea JoongAng Daily on Jan. 9)

Iran 's missile attacks on military bases in Iraq hosting U.S. soldiers are setting off alarms in the Middle East @ @ @ @ @ the Iranian Army fired more than 10 ground-to-ground ballistic missiles at two bases as revenge @ @ @ @ @ Suleimani , Iran 's most powerful military commander , by the United States .
Responding @ @ @ @ @ code-named `` Martyr Suleimani '' — the United States threatened to consider all available options @ @ @ @ @ began with a U.S. drone attack is expected to escalate , it will certainly have @ @ @ @ @ imports and the safety of Koreans residing in the region .

Careful approach needed
Iran's missile attacks on military bases in Iraq hosting U.S. soldiers are setting off alarms in the Middle East. Early morning Wednesday, the Iranian Army fired more than 10 ground-to-ground ballistic missiles at two bases as revenge for the killing of Qassim Suleimani, Iran's most powerful military commander, by the United States. Responding to Iran's counterattack — code-named "Martyr Suleimani" — the United States threatened to consider all available options. As the conflict that began with a U.S. drone attack is expected to escalate, it will certainly have an impact on our oil imports and the safety of Koreans residing in the region.
The crisis will not be confined to America and Iran after Teheran said it had 13 scenarios for its revenge. In that case, Saudi Arabia, a U.S. ally facing Iran across the Persian Gulf, will likely become a major target of Iran. In the past, Iran conducted a cyberattack on Aramco, Saudi's national oil company and the world's largest listed company. Last year, Yemen's Houthi rebels carried out drone attacks on two major oil installations in Saudi Arabia. The Houthis have close ties with Iran.
If Iran strikes at Israel, that poses a big problem as Israel will surely retaliate with its cherished "an-eye-for-an-eye" principle. The crisis will immediately spread through the Middle East, although it would not easily develop into a full-blown ground war like the 2003 Iraq War — given the strong likelihood that the United States will bomb Iran through missiles and bombers from U.S. bases surrounding Iran. Nevertheless, it will be a protracted war.
Perhaps a larger problem is the possibility of terror and the impact on our oil imports. The Moon Jae-in administration must evacuate about 1,900 Koreans living in Iraq to prepare for Iran's terrorist acts. However, 70 percent of our crude oil passes through the Persian Gulf and the Strait of Hormuz. And Saudi Arabia, Kuwait, Qatar and Arab Emirates are all located in the region within range of Iran's missile attacks. That's not all. Our oil tankers can be attacked or seized by Iran's Navy scattered along the coastline.
Our government must devise effective ways to protect our oil tankers. Washington has already asked Seoul to send our troops to the Strait of Hormuz to safeguard American and other tankers from Iran's attacks. If a war between Washington and Teheran escalates, the United States cannot afford to protect other countries' tankers. That means we cannot but defend our ships on our own. On top of that, our government must help diversify our oil import sources.
(END)


yna--2020-01-09--(EDITORIAL from Korea Times on Jan. 9)

(EDITORIAL from Korea Times on Jan. 9)

Now no one can rule out the possibility of an all-out war as both sides are ready for tit-for-tat exchanges @ @ @ @ @ could be seen as only the beginning of further action against `` Uncle Sam .
@ @ @ @ @ , it would be open conflict between the two countries which have been archrivals since @ @ @ @ @ The consequences of such a conflict will certainly destroy peace and stability not only in @ @ @ @ @ the globe .

Avoid worst-case scenario
US, Iran should try to find peaceful solution
Tensions are escalating further in the Middle East after Iran fired ballistic missiles at two U.S. military bases in Iraq, Wednesday. The launches were revenge attacks for the U.S. killing of Revolutionary Guard Gen. Qassem Soleimani in a drone strike near Baghdad, Friday.
Iran's retaliatory action should not come as a surprise because its Supreme Leader Ayatollah Ali Khamenei vowed "harsh revenge" right after Soleimani's slaying. It defied the international community's call for restraint. The Islamic Republic also ignored U.S. President Trump's threat against any potential retaliation by Iran. On Saturday, Trump warned that 52 Iranian sites would be targeted if the country retaliated.
Now no one can rule out the possibility of an all-out war as both sides are ready for tit-for-tat exchanges. Iran's missile attacks could be seen as only the beginning of further action against "Uncle Sam." If war breaks out, it would be open conflict between the two countries which have been archrivals since the 1979 Islamic Revolution. The consequences of such a conflict will certainly destroy peace and stability not only in the Middle East but across the globe.
For this reason, we cannot help but express deep concern about what is happening between Washington and Teheran. We call on both countries to refrain from ramping up tensions. They should not burn bridges and go head to head. If history is any guide, military conflict such as in the Iraq War cannot solve problems. This is why the two foes should try to find a peaceful solution to their longstanding confrontation.
Trump ordered the assassination of Soleimani as part of the U.S. fight against terrorism. On the other hand, Iran described its top military leader as a martyr. Washington and Tehran will never find an exit from the hair-trigger situation unless they get out of the terrorist-martyr framework.
Against this backdrop, other world powers such as Britain, France, Germany, China and Russia need to go all-out to ease tensions between the U.S. and Iran. The United Nations should also work hard to settle the dispute. Of course, this is easier said than done. Settling old scores and ending decades of enmity is not attainable overnight because it requires time and effort.
It is regrettable for the Trump administration to shift its focus from peace to military action in dealing with Iran, which has sought to increase its influence in the Middle East. President Trump has come under fire for trying to play the Iran card to boost his re-election bid in the face of impeachment. He withdrew the U.S. from the 2015 nuclear accord with Iran which soured bilateral ties. Soleimani's killing might lead Iran to resume its nuclear weapons program, further destabilizing the region.
Washington and Iran should avoid the worst-case scenario. It would be better for them to resume dialogue to end the rising conflict as soon as possible.
(END)