yna--2020-10-26--13 American USFK personnel test positive for COVID-19 upon arrival in S. Korea

Eight of them arrived at Osan Air Base in Pyeongtaek , some 70 kilometers south of Seoul , on U.S. @ @ @ @ @ the other five arrived on international commercial flights at Incheon International Airport , west of @ @ @ @ @ and 22 , according to the U.S. military .

SEOUL, Oct. 26 (Yonhap) -- Thirteen American service members have tested positive for the new coronavirus upon arrival in South Korea from the United States this month, the U.S. Forces Korea (USFK) said Monday.
Eight of them arrived at Osan Air Base in Pyeongtaek, some 70 kilometers south of Seoul, on U.S. government chartered flights, and the other five arrived on international commercial flights at Incheon International Airport, west of Seoul, between Oct. 9 and 22, according to the U.S. military.
Of them, five individuals tested positive on their first mandatory COVID-19 test prior to entering quarantine, and the others were confirmed to have been infected with the virus on a subsequent test while in quarantine.
They all have since been transferred to an isolation facility designated for coronavirus patients at Camp Humphreys in Pyeongtaek, USFK added.
All USFK-affiliated individuals arriving in South Korea are required to undergo a virus test and are quarantined for 14 days. Medical personnel administer a second test prior to their release.
The latest cases brought the total number of USFK-related infections to 251, most of whom tested positive upon their arrivals here.
"Thorough cleaning of all transportation assets and quarantine rooms has been completed," USFK said in a statement. "None of the new arrivals have interacted with anyone residing within USFK installations or the local community."
Starting Aug. 30, the U.S. Department of Army has required all American soldiers, family members and other related civilians to have a negative test result for the new coronavirus prior to their departure for South Korea.
But the requirement does not apply to service members from the Navy, the Air Force and the Marine Corps.
On Monday, South Korea added 119 more COVID-19 cases, including 94 domestic infections, raising the total caseload to 25,955, according to the Korea Disease Control and Prevention Agency (KDCA).
Public officials receive coronavirus tests at a parking lot outside City Hall in Naju, South Jeolla Province, southeastern South Korea, on Oct. 26, 2020, after one of the Naju municipal government's officials was confirmed to have been infected with the COVID-19 virus. (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-10-26--(3rd LD) Stung by hefty recall provisions, Hyundai, Kia deliver poor Q3 results

The maker of the Sonata sedan and the Santa Fe SUV has suffered declining sales in China in the past @ @ @ @ @ Beijing were at odds over the deployment of a U.S. anti-missile system called THAAD in @ @ @ @ @

(ATTN: CHANGES headline and lead; COMBINES stories; ADDS 1st photo and stock prices in last para)
By Choi Kyong-ae
SEOUL, Oct. 26 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Motors Corp. on Monday posted lackluster third-quarter earnings results due to hefty provisions for recalls and quality management.
For the three months that ended in September, Hyundai swung to a net loss of 188.8 billion won (US$167 million) from a net profit of 460.5 billion won a year ago. Kia's net profit plunged 59 percent to 133.68 billion won from 325.80 billion won during the same period, the companies said in separate statements.
Hyundai and Kia put aside 2.1 trillion won and 1.26 trillion won, respectively, in provisions for the recall of a faulty engine and preemptive measures for quality management, which was reflected in their quarterly results.
The headquarters of Hyundai Motor and its affiliate Kia Motors in southern Seoul (Yonhap)
"Vehicle sales improved in advanced markets in the third quarter as border shutdowns eased amid the coronavirus outbreak but quality-related provisions resulted in the net loss," Hyundai Senior Vice President Kim Sang-hyun said in a conference call with analysts.
Late last year, Hyundai Motor Group reached a settlement with car owners over its Theta II gasoline direct injection (GDi) engine for problems, such as engine stall and non-collision fires, in the United States.
Hyundai Motor said last week it will voluntarily recall 77,000 Kona Electric models due to a faulty battery cell component, as 14 cases of fires in the model -- 10 domestically and four overseas -- have been reported since 2018.
Looking ahead, the carmakers said the COVID-19 pandemic-related uncertainties will remain a major drag for them in the fourth quarter, together with the won's strengthening against the U.S. dollar.
The dollar fell to an average of 1,188.54 won in the third quarter from 1,193.24 a year ago. A strong won drives down the value of an exporter's dollar-denominated earnings when converted into the local currency.
The won has risen 3.7 percent so far this month to close at 1,127.70 against the greenback on Monday.
To ride out such challenges, the companies said they will focus on maintaining profitability based on sales of their new models, such as the Hyundai Tuscon SUV, the Genesis GV70 SUV and the Kia Sorento SUV in global markets.
To revive sales in China, the company said it plans to launch four models -- the Mistra midsize sedan, the Tucson SUV, a customized multi-purpose vehicle and an all-electric vehicle -- in the world's biggest automobile market next year.
"We will overhaul the business structure in China by streamlining dealerships, focusing on competitive models and expanding sales through online channels," Vice President Lee Kyung-tae, managing China Team at Hyundai, said.
This file photo provided by Hyundai Motor shows the Kona Electric model. (PHOTO NOT FOR SALE) (Yonhap)
Hyundai said it will also begin marketing activities next year before launching Hyundai's independent Genesis brand in China.
The maker of the Sonata sedan and the Santa Fe SUV has suffered declining sales in China in the past two years after Seoul and Beijing were at odds over the deployment of a U.S. anti-missile system called THAAD in South Korea in 2017.
Hyundai also shifted to an operating loss of 313.8 billion won in the third quarter from an operating profit of 378.5 billion won a year ago. Sales rose 2.3 percent to 27.58 trillion won from 26.97 trillion won during the same period.
Kia's operating profit declined 33 percent on-year to 195.23 billion won in the third quarter on sales of 16.32 trillion won, down 8.2 percent from a year ago.
From January to September, Hyundai's net profit plunged 69 percent to 741.1 billion won from 2.41 trillion won and Kia's net income plummeted 64 percent on-year to 525.96 billion won.
On Monday, Hyundai rose 2.7 percent to 171,500 won and Kia jumped 3.7 percent to 47,950 won, outperforming the broader KOSPI's 0.7 percent loss.
kyongae.choi@yna.co.kr
(END)


yna--2020-10-26--(LEAD) Choo slams top prosecutor for 'crossing line,' announces inspection of Optimus probe

Yoon instantly accepted the order but described it as `` illegal '' and `` absurd '' during a parliamentary audit @ @ @ @ @ claimed that President Moon Jae-in asked him to serve out his term via an `` @ @ @ @ @ from the ruling bloc for him to resign .

(ATTN: RECASTS headline, lead; RESTRUCTURES; UPDATES with more details throughout)
SEOUL, Oct. 26 (Yonhap) -- The gaping political rift between Justice Minister Choo Mi-ae and Prosecutor General Yoon Seok-youl widened further Monday, as the minister accused the top prosecutor of overstepping his bounds during a parliamentary audit of the Supreme Prosecutors Office held last week.
"For the prosecutor general who must maintain political neutrality, I believe some of his statements crossed the line. As a person in the supervisory position, I'm embarrassed," said Choo during a parliamentary audit of the justice ministry held at the National Assembly.
Last week, Choo ordered the top prosecutor to recuse himself from the investigation into the high-profile financial fraud case surrounding Lime Asset Management, citing a failure on the part of Yoon to conduct a thorough investigation into opposition politicians and prosecutors allegedly implicated in the case.
Justice Minister Choo Mi-ae attends an annual parliamentary audit of her office at the National Assembly in Seoul on Oct. 26, 2020. (Yonhap)
Yoon instantly accepted the order but described it as "illegal" and "absurd" during a parliamentary audit session Thursday. He also claimed that President Moon Jae-in asked him to serve out his term via an "appropriate messenger" despite pressure from the ruling bloc for him to resign.
"I believe it was inappropriate for a senior official to make such an unsubstantiated statement on the occasion (of a parliamentary audit)," Choo commented.
Lime Asset, founded in 2012, has been under a probe over its alleged cover-up of massive losses and subsequent suspension of fund redemption worth an estimated 1.6 trillion won (US$1.39 billion).
Choo also announced a plan to review whether the Seoul Central District Prosecutors Office under Yoon's leadership in the past properly handled the explosive financial scam case surrounding separate large-scale fraud by Optimus Asset Management.
"Since it is a type of pyramid financial scam, all that was really required was the tracing of bank accounts. (The district office) seems to have not done that," she said.
The Optimus scandal centers on allegations that the private equity company solicited funds worth about 1.2 trillion won from about 2,900 investors for investments in public institutions but actually funneled most of the money into risky assets, causing huge losses to the investors.
Justice Minister Choo Mi-ae (L) speaks during an annual parliamentary audit of her office at the National Assembly in Seoul on Oct. 26, 2020. (Yonhap)
The Lime and Optimus cases are at the center of what could develop into a large political lobbying scandal, with allegations flying around that the equity firms illegally lobbied former and sitting ranking officials and politicians to cover up cases and evade investigations.
"The Optimus case was almost buried by prosecutors but was barely salvaged by lawsuits of ordinary citizens," Choo said.
The minister also reiterated that she was legally entitled to revoke Yoon of his supervisory authority in the Lime case and a separate case involving his family.
"I was briefed (on the cases) for three days through an internal inspection, which proved the validity and the need (for the minister) to directly command the cases," Choo said.
The prosecution is also currently looking into allegations that Yoon's wife was involved in manipulating stocks in Deutsch Motors and that her art exhibition company took bribes disguised as donations.
The ongoing clash between the administration and the prosecution has transpired largely from last year following controversial investigations into former Justice Minister Cho Kuk, a key architect of Moon's drive for prosecution reform, and his family.
Reform of the prosecution has been a key agenda of the Moon administration amid long-held public views that the state prosecution has wielded excessive power without adequate checks and balances.
This file photo shows Prosecutor General Yoon Seok-youl speaking during an annual parliamentary audit of the Supreme Prosecutors Office at the National Assembly in Seoul on Oct. 22, 2020. (Yonhap)
odissy@yna.co.kr
(END)


Yonhap News Summary

Kang also told a parliamentary audit session that she is considering taking unspecified `` necessary action '' over Ambassador Lee @ @ @ @ @ because South Korea chose the U.S. as its ally 70 years ago does not mean @ @ @ @ @ the U.S. for the next 70 years .

The following is the second summary of major stories moved by Yonhap News Agency on Monday.
-----------------
FM sees 'problem' with ambassador's remarks about alliance with U.S.
SEOUL -- Foreign Minister Kang Kyung-wha said Monday she sees a "problem" with recent remarks by the country's ambassador to the United States that sparked criticism for belittling South Korea's alliance with Washington.
Kang also told a parliamentary audit session that she is considering taking unspecified "necessary action" over Ambassador Lee Soo-hyuck's remarks that just because South Korea chose the U.S. as its ally 70 years ago does not mean that it has to choose the U.S. for the next 70 years.
-----------------
(LEAD) Moon says expanding flu shots needed with no link found with recent deaths
SEOUL -- President Moon Jae-in stressed the need Monday to expand flu vaccinations this year, as South Korea strives to stem the potential simultaneous spread of the novel coronavirus and seasonal influenza.
He advised the people not to be excessively concerned about the safety of flu shots administered under a state-led free vaccine program.
-----------------
(LEAD) Big Hit shares slide to new low after stock market debut
SEOUL -- Shares in Big Hit Entertainment, the management agency behind K-pop phenomenon BTS, sunk nearly 10 percent Monday, hitting a new low since the company's market debut earlier this month, as investors question its proper valuation.
Big Hit shares slumped 9.57 percent from the previous session's close to 156,000 won (US$138), the lowest since its market debut, far underperforming the broader Korea Composite Stock Price Index's (KOSPI) 0.72-percent loss.
-----------------
(LEAD) Kia Q3 net more than halves on recall provisions
SEOUL -- Kia Motors Corp., South Korea's second-biggest carmaker by sales, said Monday its third-quarter net profit plunged 59 percent from a year earlier on massive provisions for recalls and quality management.
For the three months that ended in September, net profit fell to 133.68 billion won (US$118 million) from 325.80 billion won in the same period of last year, the company said in a statement.
-----------------
(2nd LD) Biz, political leaders visit funeral parlor of late Samsung chief
SEOUL -- Key business and political leaders on Monday visited a funeral parlor to offer their condolences to the family of late Samsung Group chief Lee Kun-hee, mourning the death of South Korea's most influential business tycoon.
Lee died Sunday at age 78, more than six years after being hospitalized for a heart attack.
-----------------
S. Korea continues flu vaccinations, despite rise in suspected deaths
SEOUL -- South Korea's health authorities said Monday they will continue a nationwide flu vaccination program, citing no direct links between flu shots and deaths.
So far, a total of 59 people, mostly elderly people in their 70s and 80s, have died after getting flu shots, up from 48 last Saturday, the Korea Disease Control and Prevention Agency (KDCA) said in a statement.
-----------------
(3rd LD) New virus cases rebound to over 100 on cluster infections in greater Seoul
SEOUL -- South Korea's daily new coronavirus cases bounced back to over 100 on Monday again despite the lower number of tests carried out over the weekend, as sporadic cluster infections, noticeably at nursing facilities and gatherings, continued to emerge.
The country added 119 more COVID-19 cases, including 94 domestic infections, raising the total caseload to 25,955, according to the Korea Disease Control and Prevention Agency (KDCA).
-----------------
Choo announces Optimus case inspection, continues to slam top prosecutor
SEOUL -- The gaping political rift between Justice Minister Choo Mi-ae and Prosecutor General Yoon Seok-youl widened further Monday, as the minister announced a plan to review whether the Seoul Central District Prosecutors Office under Yoon's leadership in the past properly handled an explosive financial scam case.
"Since it is a type of pyramid financial scam, all that was really required was the tracing of bank accounts. (The district office) seems to have not done that," said Choo during a parliamentary audit of the justice ministry held at the National Assembly.
-----------------
(2nd LD) Key Samsung units surge as succession issue looms following group chief's death
SEOUL -- Shares in Samsung Group's key affiliates closed higher Monday on expectations that they may increase dividend payouts to help the late Samsung chief's scions secure funds to pay record high inheritance taxes and they may overhaul their governance structures.
Samsung Group chief Lee Kun-hee died Sunday at age 78, more than six years after being hospitalized for a heart attack.
-----------------
Moon says expanding flu shots needed to curb coronavirus spread
SEOUL -- President Moon Jae-in stressed the need Monday to expand flu vaccinations to help fight against the novel coronavirus, pointing out that no direct link has been found between the recent deaths of dozens of people and the flu shots they had received.
He requested that the people trust a related announcement by South Korean health authorities made on the basis of "autopsies, other examinations and a comprehensive review."
-----------------
(2nd LD) Hyundai Motor turns to loss in Q3 on recall provisions
SEOUL -- Hyundai Motor Co., South Korea's biggest carmaker by sales, said Monday it shifted to a loss in the third quarter from a year earlier on hefty provisions for recalls and quality management.
For the three months that ended in September, Hyundai swung to a net loss of 188.8 billion won (US$167 million) from a net profit of 460.5 billion won in the same period of last year, the company said in a statement.
-----------------
(LEAD) Seoul city to launch new public Wi-Fi service on trial basis
SEOUL -- The Seoul city government said Monday it will launch a new public Wi-Fi service in five wards on a trial basis next month.
The free service, named "Kkachi On," will be introduced in the eastern ward of Seongdong and the southwestern ward of Guro on Sunday, before being expanded to the Eunpyeong, Gangseo and Dobong wards in mid-November, according to the city government.
(END)


yna--2020-10-26--Annual K-Music festival to hit London this week as live-online hybrid event amid pandemic

A performance by the sensational band Leenalchi , known for its hilarious mix and match of the Korean opera `` @ @ @ @ @ and flash fashion and dance moves , will be featured in the `` K-Music Critics @ @ @ @ @

SEOUL, Oct. 26 (Yonhap) -- The annual K-Music festival in London will kick off this week for a 17-day run as a hybrid event combining live performances and YouTube livestreaming amid the global coronavirus pandemic, its organizer said Monday.
This year's K-Music 2020 celebrates the 7th year of its presence in the British capital, showcasing traditional Korean music, called "gukak," as well as rock and jazz to British audiences.
K-Music 2020 will kick off on Saturday (London time) to run till Nov. 16, co-hosted by Korean Cultural Centre UK (KCCUK) in collaboration with Serious Ltd., the organizer of EFG London Jazz Festival.
This year's event will combine live shows and YouTube streaming as its first hybrid format to avoid crowds in the face of the COVID-19 pandemic, KCCUK said.
A total of 17 online performances, split into five categories, will be livestreamed through the YouTube channels of KCCUK and Serious, the culture center said.
Korean music groups, such as Jambinai, Dongyang Gozupa, Hey String and Leenalchi, will take the stage for the categories including "K-Music Greats," "K-Music New Talent" and "K-Music Encounters," to drive home the unique and trendy Korean music vibes.
"K-Music Encounters" will also feature a collaboration between French accordionist Vincent Peirani and Heo Yoon-jeong, a master instrumentalist of the traditional Korean string instrument, "geomungo," according to the center.
A performance by the sensational band Leenalchi, known for its hilarious mix and match of the Korean opera "pansori" with modern instruments and flash fashion and dance moves, will be featured in the "K-Music Critics's Choice" category.
As a closer, drummer Suh Soo-jin from jazz group Near East Quartet and BBC Jazz Award-winning British pianist Kit Downes will team up to present a live performance at London's famous jazz club PizzaExpress Live on Nov. 16, KCCUK said.
"Combining (YouTube) streaming with live performances, K-Music 2020 will introduce music that fuses traditional Korean music with jazz and reinterpret that modernly," Lee Jung-woo, the director of KCCUK, said.
"We hope that viewers can enjoy the beauty and the emotional touch of different types of Korean music," he added.
This composite photo, provided by the Korean Cultural Centre UK, shows drummer Suh Soo-jin (L) from jazz group Near East Quartet and BBC Jazz Award-winning British pianist Kit Downes. (PHOTO NOT FOR SALE) (Yonhap)
nyway@yna.co.kr
(END)


yna--2020-10-26--(LEAD) Samsung's Lee Jae-yong absent from retrial due to father's funeral

The court said the three horses , worth 3.4 billion won ( US $ 2.8 million ) , that Samsung @ @ @ @ @ considered as bribes .
The earlier ruling had excluded them from bribery charges given that @ @ @ @ @ ownership of the horses .
It also noted that Samsung 's 1.6 billion-won donation to @ @ @ @ @ the Choi family was a planned move relevant to Lee 's management succession from his @ @ @ @ @ at that time .

(ATTN: CHANGES headline, lead; ADDS details in last 5 paras, photo)
SEOUL, Oct. 26 (Yonhap) -- Samsung heir Lee Jae-yong did not attend his retrial due to his father's funeral Monday, in a massive bribery scandal that led to the ouster of former President Park Geun-hye.
Lee, vice chairman of Samsung Electronics Co., had asked the Seoul High Court to allow his absence from the retrial after his father Lee Kun-hee died Sunday.
The retrial resumed as the Supreme Court last month struck down the complaint lodged by the prosecution in January to replace the judges of the court who it criticized for ruling favorably for the defendant.
Earlier this month, the appellate court ordered Lee to appear in court, contrary to its customary practice in which a defendant is not required to attend a preparatory session for an upcoming trial.
Without him attending, the court held a session in the afternoon, calling both parties -- the prosecution and Lee's legal team -- to present their opinions and key arguments, a process aimed at enhancing the efficiency of the upcoming retrial.
A file photo of Lee Jae-yong, vice chairman of Samsung Electronics Co. (Yonhap)
The de facto leader of the country's top conglomerate was initially sentenced to five years in jail in 2017 for bribing a longtime friend of former President Park as he sought the government's help in succeeding his father and securing control of Samsung Group.
He was freed a year later after the appeals court reduced the term to 2 1/2 years, suspended for four years, dismissing most of the bribery charges against him.
The top court, however, sent the case back to a lower court in August last year for retrial, saying that Lee should be found guilty of providing about 5 billion won (US$4.1 million) more worth of bribes to the president's friend Choi Soon-sil, charges excluded from the previous court ruling.
The court said the three horses, worth 3.4 billion won (US$2.8 million), that Samsung gifted to Choi should be considered as bribes. The earlier ruling had excluded them from bribery charges given that Samsung didn't give Choi ownership of the horses. It also noted that Samsung's 1.6 billion-won donation to a sports foundation run by the Choi family was a planned move relevant to Lee's management succession from his father who was being hospitalized at that time.
Spectators receive a ticket for the retrial of Lee Jae-yong, vice chairman of Samsung Electronics Co, in front of the Seoul High Court on Oct. 26, 2020. (Yonhap)
The court on Monday asked the prosecution to recommend by Thursday an outside expert who will participate in evaluating the activities of the independent compliance committee of Samsung Group, which was launched in February to monitor whether the group's corporate actions comply with laws and ethics.
The prosecution, which had opposed the court's plan to consider the committee's activities in the sentencing of Lee, balked at the short notice. Earlier this month, the court appointed Kang Il-won, a former justice at the Constitutional Court, to do the evaluation.
The committee was created after the appellate court of Lee's bribery case ordered the conglomerate's heir to come up with measures to prevent Samsung from committing wrongdoing, during a hearing in October.
Since its launch, the committee urged him to make a public apology and come up with measures that can improve Samsung's corporate culture in three areas: managerial succession, labor union and communication with civil society. In response, Lee made a surprising announcement in May that he will not pass on management power to his children, hinting that Samsung will move away from the family-run chaebol system.
The court initially planned to hold the final arguments on Dec. 14, but decided to postpone it to a later date as the prosecution strongly protested against the plan. The next hearing is slated for Nov. 9.
(END)


yna--2020-10-26--FM sees 'problem' with ambassador's remarks about alliance with U.S.

`` I think there was a problem in some of his expressions .
We have yet to take any action @ @ @ @ @ thoroughly examining the intent of the ambassador 's remarks , '' she said in the @ @ @ @ @ audit when asked by a lawmaker if the ministry gave him any warning .

By Kim Seung-yeon
SEOUL, Oct. 26 (Yonhap) -- Foreign Minister Kang Kyung-wha said Monday she sees a "problem" with recent remarks by the country's ambassador to the United States that sparked criticism for belittling South Korea's alliance with Washington.
Kang also told a parliamentary audit session that she is considering taking unspecified "necessary action" over Ambassador Lee Soo-hyuck's remarks that just because South Korea chose the U.S. as its ally 70 years ago does not mean that it has to choose the U.S. for the next 70 years.
While Lee's intention was to stress that the country's national interests are the foremost priority, critics blasted Lee for having made such inappropriate remarks about the host country amid the growing U.S.-China rivalry.
On Monday, Kang admitted that the remarks were inappropriate.
"I think there was a problem in some of his expressions. We have yet to take any action but we will, after thoroughly examining the intent of the ambassador's remarks," she said in the final session of the parliamentary audit when asked by a lawmaker if the ministry gave him any warning.
"I believe some sort of action is necessary," she said.
On Chinese President Xi Jinping's characterization of his country's participation in the 1950-53 Korean War as "a fight against U.S. imperialist invaders," Kang reiterated that there is no denying that the North invaded the South.
She added that her ministry has clearly delivered that point to the Chinese side.
"It's an undeniable historical fact. We have conveyed our position clearly to the Chinese side, and we're taking necessary steps," she said. "The U.N. Security Council resolution also states that the war broke out with the North's invasion to the South," she said.
The government has been criticized for failing to speak up against Beijing after Xi made the remarks in his speech last week to mark the 70th anniversary of China's participation in the three-year conflict. The war ended in an armistice, leaving the two Koreas technically still at war.
In Monday's session, Kang also said she feels "limitations" in her leadership as she described the difficulties in handling a spate of sexual misconduct cases that have flared up at South Korean missions overseas.
But, at the same time, she also said she believes they show the ministry is undergoing a change from a closed and male-dominated organization to one that guarantees a system allowing people to report matters they think are unfair.
Foreign Minister Kang Kyung-wha speaks during a parliamentary audit session at the National Assembly on Oct. 26, 2020. (Yonhap)
elly@yna.co.kr
(END)


yna--2020-10-26--(LEAD) Moon says expanding flu shots needed with no link found with recent deaths

`` This year , ( South Korea ) needs to further expand flu vaccinations to stave off the simultaneous infections @ @ @ @ @ the coronavirus , not just for the prevention of flu ( itself ) , '' @ @ @ @ @ pool reporters during a weekly meeting with his senior secretaries at Cheong Wa Dae .

(ATTN: MODIFIES headline, lead paras; UPDATES with remarks on coronavirus, details in last 6 paras; ADDS byline)
By Lee Chi-dong
SEOUL, Oct. 26 (Yonhap) -- President Moon Jae-in stressed the need Monday to expand flu vaccinations this year, as South Korea strives to stem the potential simultaneous spread of the novel coronavirus and seasonal influenza.
He advised the people not to be excessively concerned about the safety of flu shots administered under a state-led free vaccine program.
The president said it is "being confirmed" that there is no direct link between the recent deaths of dozens of people and the flu shots they had taken.
He requested that the people trust a related announcement by local health authorities made on the basis of "autopsies, other examinations and a comprehensive review."
"This year, (South Korea) needs to further expand flu vaccinations to stave off the simultaneous infections and spread of flu and the coronavirus, not just for the prevention of flu (itself)," Moon said in front of pool reporters during a weekly meeting with his senior secretaries at Cheong Wa Dae.
President Moon Jae-in speaks during a meeting with his senior secretaries at Cheong Wa Dae in Seoul on Oct. 26, 2020. (Yonhap)
He cautioned the public against excessive anxiety about the safety of flu vaccines, which may lead them to miss the appropriate time for inoculation. He cited the high fatality rate of influenza.
Moon's remarks represented his first public statement on concerns about flu vaccinations amid the government's efforts to bring the COVID-19 outbreak under control.
As of midnight Sunday, 59 people nationwide have died after getting flu shots in recent days, with the majority of them in their 70s and 80s, according to the Korea Disease Control and Prevention Agency.
Last week, the agency announced that it had found no direct connection between flu vaccinations and the deaths of people who were vaccinated.
Moon instructed relevant authorities to endeavor to help the people to avoid "unnecessary anxiety" through such measures as the revealing of information associated with research on the reported deaths and foreign case studies.
An uncontrollable spread of winter-season influenza, which has similar symptoms with the coronavirus, is feared to complicate the prolonged campaign against the pandemic.
Regarding the coronavirus, the president said the nation's antivirus system is "working effectively," given that the proportion of infections with untraceable sources has dropped to around 11 percent from over 27 percent a month earlier.
"It is fortunate that economic activities (in South Korea) are gradually being normalized with the easing of social distancing measures," he said.
Moon expressed hope for South Korea to pull off a quick economic recovery by seizing the chance.
He emphasized, however, that the country should not let its guard down against the coronavirus while resuming economic activities.
lcd@yna.co.kr
(END)


yna--2020-10-26--(LEAD) Seoul stocks sink on renewed virus concern, Korean won at 19-month high

`` The number of daily new COVID-19 cases in the United States has reached over 80,000 , and the growing @ @ @ @ @ Europe has heightened the possibility of economic lockdowns and will likely expand market volatility , @ @ @ @ @ Sang-young said .

(ATTN: ADDS bond yields at bottom, CHANGES photo)
SEOUL, Oct. 26 (Yonhap) -- South Korean stocks closed lower Monday as investors remained skeptical of a much-coveted global economic recovery amid a resurgence in the new coronavirus. The Korean won rose to an over 19-month high against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 16.90 points, or 0.72 percent, to close at 2,343.91.
Trading volume was moderate at 803 million shares worth 11.29 trillion won (US$10 billion), with losers outnumbering gainers 759 to 119.
Foreigners offloaded a net 118.8 billion won, and retail investors sold a net 110.7 billion won. Institutions picked up a net 244.7 billion won.
Electronic signboards at the trading room of Hana Bank in Seoul show the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,343.91 on Oct. 26, 2020, down 16.90 points or 0.72 percent from the previous session's close. (Yonhap)
Stocks got off to a firm start on lingering hopes for progress in fresh stimulus talks in the United States.
But investor sentiment worsened as the country's new coronavirus cases shot up to 119, sharply up from 61 cases reported a day earlier.
A recent global spike in the number of COVID-19 infections has dashed hopes for an earlier-than-expected economic recovery.
"The number of daily new COVID-19 cases in the United States has reached over 80,000, and the growing number of new infections in Europe has heightened the possibility of economic lockdowns and will likely expand market volatility," Kiwoom Securities analyst Seo Sang-young said.
Over the weekend, Spain imposed an overnight curfew, while Italy decided to shut down public locations, including cinemas, to stem the spread of the virus.
In Seoul, most large caps closed lower.
Market bellwether Samsung Electronics added 0.33 percent to 60,400 won, following the death of its chairman a day earlier, while No. 2 chipmaker SK hynix fell 0.83 percent to 83,200 won.
Internet portal giant Naver lost 1.75 percent to 281,500 won, with its rival Kakao tumbling 3.09 percent to 329,500 won.
Leading chemical maker LG Chem dropped 0.62 percent to 646,000 won, and rechargeable battery maker Samsung SDI shed 1.65 percent to 417,500 won.
Top pharmaceutical firm Samsung Biologics sank 0.94 percent to 630,000 won, while Celltrion remained unchanged at 238,000 won.
The country's largest automaker Hyundai Motor jumped 2.69 percent to 171,500 won. The company said it shifted to a loss in the third quarter from a year earlier on hefty provisions for recalls.
The local currency closed at 1,127.7 won to the U.S. dollar, up 5.2 won from the previous session and marking the highest closing since March 5, 2019.
Analysts said the Korean currency gained ground on expectations that the won's advance will likely continue amid the U.S. dollar's weakness.
The greenback has been weakening against major currencies since the U.S. Federal Reserve said in September that it will keep interest rates near zero until inflation is on track to surpass its 2 percent target for some time.
Bond prices, which move inversely to yields, closed mixed. The yield on three-year Treasurys fell 0.2 basis point to 0.908 percent, and the return on the benchmark five-year government bond rose 0.1 basis point to 1.192 percent.
yunhwanchae@yna.co.kr
(END)


yna--2020-10-27--U.S. flies surveillance aircraft near Korean Peninsula: aviation tracker

SEOUL , Oct. 27 ( Yonhap ) -- A U.S. spy plane flew near the Korean Peninsula early Tuesday , @ @ @ @ @ in what appeared to be an effort to monitor North Korea just days ahead of @ @ @ @ @

SEOUL, Oct. 27 (Yonhap) -- A U.S. spy plane flew near the Korean Peninsula early Tuesday, an aviation tracker said, in what appeared to be an effort to monitor North Korea just days ahead of the U.S. presidential election.
The U.S. Air Force's E-8C Joint Stars was spotted in skies above the Yellow Sea from late Monday to early Tuesday, No callsign tweeted.
The same type of the aircraft was also seen carrying out operations Saturday night above the western waters.
The flights came amid speculation the North could test its new strategic weapons near the Nov. 3 U.S. presidential election with the two countries' nuclear negotiations remaining deadlocked since last year.
On Oct. 10, North Korean leader Kim Jong-un vowed to continue strengthening the country's self-defense "war deterrent" and showed off a new intercontinental ballistic missile (ICBM) and other weapons during a massive military parade in Pyongyang.
This image captured from the U.S. Air Force's website shows a USAF E-8C Joint Surveillance Target Attack Radar System (JSTARS) aircraft. (PHOTO NOT FOR SALE) (Yonhap)
scaaet@yna.co.kr
(END)


yna--2020-10-27--Doosan Mobility Innovation to break into overseas drone market

Under the deal , both sides plan to share their patent technologies and sales networks , and KEPRI 's automated @ @ @ @ @ be applied to DMI 's hydrogen fuel cell-powered drones , which are capable of flying @ @ @ @ @ .

By Nam Kwang-sik
SEOUL, Oct. 27 (Yonhap) -- Doosan Mobility Innovation (DMI), a producer of portable fuel cell power packs for drones, said Tuesday it will make inroads overseas to expand its presence in the power cable-checking system.
To that end, DMI signed a preliminary deal with the Korea Electric Power Research Institute (KEPRI), a R&D subsidiary of the state-run Korea Electric Power Corp. (KEPCO), the company said.
Under the deal, both sides plan to share their patent technologies and sales networks, and KEPRI's automated power cable checking system will be applied to DMI's hydrogen fuel cell-powered drones, which are capable of flying for more than two hours.
A hydrogen fuel cell powered drone built by Doosan Mobility Innovation is displayed at CHFE 2020, an expo held in Foshan, China, from Oct. 19-22, in this photo provided by Doosan Crop. on Oct. 23, 2020. (PHOTO NOT FOR SALE) (Yonhap)
In recent years, drones have been used to check power cables instead of humans, but the drones' short battery life, which is around 20 minutes, has been cited as a major hurdle, DMI said.
DMI is a unit of Doosan Corp., the holding company of the cash-strapped Doosan Group.
ksnam@yna.co.kr
(END)


yna--2020-10-27--Hanwha Energy wins US$185 mln solar project in U.S.

Hanwha Energy said it plans to sell electricity to Hawaiian Electric for 20 years after completing the power plant .
@ @ @ @ @ enough electricity to power about 80,000 local households per year .

SEOUL, Oct. 27 (Yonhap) -- Hanwha Energy Corp., a South Korean renewable energy company, said Tuesday that it has won a project worth US$185 million to build a solar power plant on Hawaii's most populated island of Oahu.
Under the deal with Hawaiian Electric Co., Hanwha Energy is set to build the 60-megawatt solar facility and energy storage systems (ESS) with capacity of 240 megawatt hours (MWh) by 2023.
ESS refers to energy saving procedures in large batteries for the efficient distribution of power.
Hanwha Energy said it plans to sell electricity to Hawaiian Electric for 20 years after completing the power plant. The solar plant could generate enough electricity to power about 80,000 local households per year.
174 Power Global Corp., a wholly owned subsidiary of Hanwha Energy, will handle the project from start to finish, as well as the plant's operation, according to Hanwha Energy.
In August, 174 Power Global built a 180-megawatt solar plant in the U.S. state of Texas.
This photo, provided by Hanwha Energy Corp., shows a 180-megawatt solar plant built in the U.S. state of Texas by its U.S. subsidiary 174 Power Global. (PHOTO NOT FOR SALE) (Yonhap)
entropy@yna.co.kr
(END)


yna--2020-10-27--Samsung heir may get promoted to chairman following father's passing

`` It appears that Lee has been thinking that it was not right for him to take the chairman title @ @ @ @ @ , '' said one executive from a local conglomerate under condition of anonymity .
`` @ @ @ @ @ recognized as the de facto leader of Samsung by others , he may not have @ @ @ @ @ the chairman title . ''

SEOUL, Oct. 27 (Yonhap) -- Speculation is growing over when Samsung Electronics Vice Chairman Lee Jae-yong would take the position of chairman in South Korea's largest conglomerate following his father's death, industry insiders said Tuesday, though the heir has already been recognized as the tech giant's de facto leader.
His father and a longtime Samsung Group head, Lee Kun-hee, died Sunday at age 78, more than six years after being hospitalized for a heart attack.
Jae-yong, the eldest scion and the only son of the late Samsung chief, has been spearheading the group's management since May 2014, when his father collapsed due to a heart attack.
In 2018, the country's fair trade watchdog recognized him as the chief of the conglomerate.
However, the 52-year-old Samsung Electronics vice chairman has yet to take the chairman title for Samsung, while chiefs of other major conglomerates have been using that title in South Korea.
This image from Yonhap News TV shows Samsung Electronics Vice Chairman Lee Jae-yong. (PHOTO NOT FOR SALE) (Yonhap)
With Hyundai Motor Group heir Chung Euisun promoted to the position of chairman earlier this month, Lee is now the only man among chiefs of the country's top four conglomerates who does not hold chairmanship title.
"It appears that Lee has been thinking that it was not right for him to take the chairman title while his father was alive," said one executive from a local conglomerate under condition of anonymity. "Since Lee has already been recognized as the de facto leader of Samsung by others, he may not have a big interest in getting the chairman title."
Samsung has been saying that nothing has been discussed on Lee's promotion, but following his father's death, industry insiders speculate that the group will start to review Jae-yong's title.
In Lee Kun-hee's case, he took the chairman title 20 days after his father and Samsung Group founder Lee Byung-chull died in November 1987. Kun-hee was only 45 when he officially succeeded his father.
But some observers said Jae-yong's promotion to chairman may not be possible for the time being since he is currently dealing with trials that could put him in jail again.
Lee was indicted last month for his alleged role in a controversial merger and fraudulent accounting related with his succession.
In this photo taken on Oct. 25, 2020, Samsung Electronics Vice Chairman Lee Jae-yong enters a funeral hall at Samsung Medical Center in Seoul for the funeral service of his father Lee Kun-hee. (Yonhap)
Prosecutors suspect that Lee and the group's top management were involved in a calibrated scheme to intentionally lower the value of Samsung C&T Corp. prior to its merger with Cheil Industries Inc. in 2015 so as to facilitate Lee's managerial succession from his father.
He is also up against another round of trials in a corruption case that led to the ouster of former President Park Geun-hye. Lee already served around a year in prison for the case.
Lee was released in February 2018 after an appellate court handed him a suspended sentence, but six months later, the country's top court ordered a review of the suspended sentence.
"Lee Jae-yong is a businessman who now represents not only Samsung but also South Korea," an official with a local conglomerate said. "It is expected that Samsung would discuss his promotion, but it's his court cases that matters."
kdon@yna.co.kr
(END)


yna--2020-10-27--The Korea Interbank Offered Rates (KORIBOR)

SEOUL , Oct. 27 ( Yonhap ) -- The Korea Interbank Offered Rates ( KORIBOR ) as posted by Yonhap @ @ @ @ @ and information arm of Yonhap News Agency , at 11:00 a.m .

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


yna--2020-10-27--Corporate land ownership in S. Korea on steady rise

The Citizens ' Coalition for Economic Justice has announced that the value of land owned by the country 's top @ @ @ @ @ Hyundai Motor , SK , LG and Lotte -- has risen by 61 trillion won @ @ @ @ @ ) over the past 23 years .

SEOUL, Oct. 27 (Yonhap) -- Corporate ownership of land in South Korea has been on a steady rise in recent years amid rising criticism of conglomerates' real estate investment, government data showed Tuesday.
South Korean companies owned 6.953 square kilometers of land in 2019, up 1.7 percent from a year earlier, according to the data from the Ministry of Land, Infrastructure and Transport.
It represents 11.3 percent of the country's total land area, up from a 10.1 percent share in 2012.
Corporate land ownership had been growing annually since 2012 before inching down in 2018 and bouncing back last year.
The increase in corporate land ownership comes as South Korea's family-controlled conglomerates, widely known as chaebol, are under flak for indulging in real estate development and leasing businesses.
The Citizens' Coalition for Economic Justice has announced that the value of land owned by the country's top five chaebol -- Samsung, Hyundai Motor, SK, LG and Lotte -- has risen by 61 trillion won (US$54 billion) over the past 23 years.
In contrast to the upturn in corporate land ownership, land owned by individuals has been declining steadily over the cited period, the data also showed.
Individuals owned 46,633 square kilometers of land in South Korea last year, lower than 46,755 square kilometers in 2018 and 47,504 square kilometers seven years earlier.
(END)


yna--2020-10-27--Biz sentiment for Nov. improves amid eased virus restrictions: survey

Under Level 1 measures , citizens are permitted to normalize most of their daily activities , with infection prevention steps @ @ @ @ @ facilities , including clubs and bars , are allowed to operate after a monthslong suspension @ @ @ @ @ entry logs and follow preventive measures .

SEOUL, Oct. 27 (Yonhap) -- Business sentiment in South Korea improved for November as domestic consumption expands on eased social distancing rules amid the coronavirus pandemic, a local think tank said Tuesday.
The business survey index (BSI) of the country's top 600 companies by sales came to 99.5 for November, up from the 84.6 for October, the Korea Economic Research Institute (KERI) said in a statement.
"Eased social distancing rules have helped improve companies' profitability. But it's too early to say an economic recovery has occurred due to uncertainties involving COVID-19 and the U.S. presidential election next month," a KERI official said.
South Korea relaxed its social distancing scheme to the lowest Level 1 in its three-tier system from Oct. 12, after applying Level 2 measures across the country since late August.
Under Level 1 measures, citizens are permitted to normalize most of their daily activities, with infection prevention steps in place. Even risk-prone facilities, including clubs and bars, are allowed to operate after a monthslong suspension as long as they keep entry logs and follow preventive measures.
A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite.
The BSI has stayed below 100 for 30 consecutive months after reaching 100.3 in May 2018, said KERI, a research institute under the Federation of Korean Industries, South Korea's biggest business lobby.
KERI's analysis for this month gave an index of 98.7, up from 84 a month earlier despite the prolonged pandemic, it said.
KERI said 377 out of the 600 companies responded to the survey, which was conducted from Oct. 14-21.
kyongae.choi@yna.co.kr
(END)


yna--2020-10-27--(LEAD) Tottenham's Son Heung-min scores 8th goal, leads Premier League scoring

It is also the 29th time that the prolific Son-Kane pair have combined for a Premier League goal .
They @ @ @ @ @ Chelsea 's Didier Drogba and Frank Lampard who had linked up a record 36 times @ @ @ @ @ .

(ATTN: ADDS Son's comments and info in paras 4-5, photo)
SEOUL, Oct. 27 (Yonhap) -- Tottenham Hotspur's Son Heung-min has become the top scorer in the Premier League, with his league-leading eighth goal giving his team a tight 1-0 victory.
In an away game against Burnley at Turf Moor in Burnley, Britain, on Monday (local time), Son headed in from close range after a headed pass from his English teammate Harry Kane in the 76th minute.
The winner is Son's eighth goal in the league's 2020-21 season and helped him take the lead in the Premier League scoring table, outnumbering Dominic Calvert-Lewin of Everton with seven and Patrick Bamford of Leeds United with six.
In this EPA photo, Song Heung-min of Tottenham Hotspur celebrates after scoring a goal during the Premier League match against Burnley at Turf Moor in Burnley, Britain, on Oct. 26, 2020. (Yonhap)
"I'm glad and delighted to win at this difficult place on Monday night. I'm more than happy to get three points," he said in a video message uploaded to Tottenham's Twitter account. "Next is the Europa League. Go Spurs!"
Tottenham will have a Europa League group stage match against Royal Antwerp FC on Friday, and Son is seeking to extend his scoring streak to five games at the continental competition.
The South Korean attacker has scored 10 goals throughout this season, including two goals at the Europa League, to mark the fifth consecutive year of scoring at least 10 goals in a year.
It is also the 29th time that the prolific Son-Kane pair have combined for a Premier League goal. They are behind the pair of Chelsea's Didier Drogba and Frank Lampard who had linked up a record 36 times for league goals in total.
Thanks to Son's goal, Tottenham picked up a 1-0 win and rose to the fifth place on the 2020-21 Premier League standing.
In this screenshot image from the official Twitter account of Tottenham Hotspur, South Korean forward Son Heung-min delivers comments after a 1-0 victory against Burnley on Oct. 26, 2020. (PHOTO NOT FOR SALE) (Yonhap)
brk@yna.co.kr
(END)


yna--2020-10-27--(3rd LD) S. Korea's economy returns to growth in Q3 as pandemic-caused trade slump eases

SEOUL , Oct. 27 ( Yonhap ) -- South Korea 's economy returned to modest growth in the third quarter @ @ @ @ @ expansion since the coronavirus pandemic began , as exports showed signs of improvement , the @ @ @ @ @ ) said Tuesday .

(ATTN: ADDS BOK official's, details in paras 7-10)
By Kim Deok-hyun
SEOUL, Oct. 27 (Yonhap) -- South Korea's economy returned to modest growth in the third quarter, marking the first quarterly expansion since the coronavirus pandemic began, as exports showed signs of improvement, the Bank of Korea (BOK) said Tuesday.
In the July-September period, the nation's real gross domestic product (GDP) grew 1.9 percent from the previous quarter, when it shrank 3.2 percent, according to the BOK data.
The third-quarter reading marked the fastest expansion since the first quarter of 2010.
Compared with a year ago, however, the economy, Asia's fourth largest, contracted 1.3 percent, the BOK said.
Graphic GDP growth trend (Yonhap)
In August, the BOK expected South Korea's economy to contract 1.3 percent this year.
If the nation meets the target, the economy should grow around 1.5 percent in the third and fourth quarters.
Park Yang-su, head of the BOK's economic statistics department, told a media briefing that the nation could meet this year's growth target, as the third-quarter results were better than expected.
Also, the economy could contract less than predicted this year if it expands by at least 0.4 percent in the fourth quarter, Park said.
However, the pace of recovery may be moderate for the trade-driven economy because new waves of coronavirus infections recently gripped the United States and European nations, Park said.
"Given the risk factors, annual growth rates are still in the range of previous projections," Park said.
Shortly after the data was released, Finance Minister Hong Nam-ki said the nation's economy is on the road to recovery, helped by robust growth in exports.
"The economy entered a recovery path for normalization of the economy," Hong told a policy meeting.
The economy is also expected to report an expansion in the fourth quarter, as advanced nations eased restrictions against the pandemic, Hong said.
Hong said the government will take measures to boost local consumption in the fourth quarter.
During the third quarter, exports grew by 15.6 percent, as overseas shipments of automobiles and semiconductors expanded, the BOK said.
Although the pandemic-caused trade slump eased as advanced nations lifted lockdown measures, domestic spending was still weak because of a resurgence of the new coronavirus in mid-August.
This file photo, taken June 4, 2020, shows stacks of import-export cargo containers at South Korea's largest seaport in Busan, 450 kilometers southeast of Seoul. (Yonhap)
Last month, South Korea saw exports rebound for the first time in seven months as major trade partners gradually resumed their business activities amid the pandemic.
Outbound shipments came to $48 billion last month, up 7.7 percent from $44.6 billion posted a year earlier.
Facility investment rose 6.7 percent on-quarter in the third quarter, the BOK said.
Private spending edged down 0.1 percent in the quarter, while government spending inched up 0.1 percent.
The government has so far boosted its budget spending by at least 67 trillion won (US$59.3 billion) with four batches of supplementary budgets to boost the virus-hit economy.
By sector, output by the manufacturing industry gained 7.6 percent on-quarter in the third quarter, a turnaround from a 8.9 percent plunge in the second quarter.
Output by the construction sector dipped 5.5 percent in the third quarter, while that of the service sector grew 0.7 percent.
(END)


yna--2020-10-27--N.K. paper stresses science and technology amid antivirus campaign

`` We can hardly find a better opportunity in strengthening our self-supporting economy and maximize our internal ability and development @ @ @ @ @ science and technology than now when borders on the land , in the air and @ @ @ @ @ , '' said the Rodong Sinmun , the organ of the North 's ruling party @

SEOUL, Oct. 27 (Yonhap) -- North Korea's official newspaper said Tuesday the country should focus on science and technology to make what it needs on its own without imports at a time when its borders are closed over coronavirus concerns.
"We can hardly find a better opportunity in strengthening our self-supporting economy and maximize our internal ability and development potential through the power of science and technology than now when borders on the land, in the air and sea have been completely blocked," said the Rodong Sinmun, the organ of the North's ruling party.
"Currently, the most daunting challenge in demonstrating the power of self-reliance is the import illness," the paper added. "The way that we should take under the current circumstances ... is to safely protect us from the virus through science and technology."
North Korea has reported no COVID-19 outbreak, but it has maintained strict restrictions on the movement of people and goods across the border with China since early this year as part of efforts to stem the spread of the highly contagious disease.
Such antivirus efforts seem to be taking a toll on the North's economy, as they have been hampering its imports of food and other key materials from China.
North Korean leader Kim Jong-un has repeatedly emphasized the importance of science and technology as a way to build a self-reliant economy and called for less dependence on imports.
Kim earlier rejected any outside help and ordered an "80-day campaign" to overcome challenges ahead of a rare party congress scheduled early next year where he pledged to unveil new economic development plans.
The paper said that the key to successfully completing all those targets under the campaign lies with science and technology, urging scientists and workers in every field to do their best until the last minute.
This photo, released by the North's Korean Central News Agency on Aug. 29, 2020, shows an official taking a citizen's temperature at Pyongyang Station in the capital to prevent the outbreak of the coronavirus. (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)
kokobj@yna.co.kr
(END)


yna--2020-10-27--Korea Zinc Inc Q3 net income up 7 pct. to 170.4 bln won

The operating profit was 33.2 percent higher than the average estimate , according to the survey by Yonhap Infomax , @ @ @ @ @ Yonhap News Agency .
The estimate of net profit was not available .
( END @

SEOUL, Oct. 27 (Yonhap) -- Korea Zinc Inc on Tuesday reported its third-quarter net income of 170.4 billion won (US$150.9 million), up 7 percent from a year earlier.
The company said in a regulatory filing that operating profit for the July-September period rose 28 percent on-year to 267.4 billion won. Revenue increased 14.2 percent to 1.97 trillion won.
The operating profit was 33.2 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
(END)


yna--2020-10-27--S. Korea begins procedures to develop technologies for light aircraft carrier

`` After its requirement was decided in July last year , experts from private , public and military sectors identified @ @ @ @ @ secured because unlike other vessels , it will use vertical takeoff and landing ( VTOL @ @ @ @ @ agency said in a release .

SEOUL, Oct. 27 (Yonhap) -- Military officials and defense researchers were to hold their first meeting Tuesday to develop core technologies necessary to build and deploy the country's first light aircraft carrier by 2033, the arms procurement agency said.
The military has been pushing to secure the 40,000-ton light aircraft carrier to "proactively respond to threats from all directions," though some critics have raised questions about its cost-effectiveness.
During Tuesday's meeting, military officials and researchers were to review plans for the development of technologies for the 2 trillion won (US$1.74 billion) project, according to the Defense Acquisition Program Administration.
"After its requirement was decided in July last year, experts from private, public and military sectors identified core technologies necessary to be secured because unlike other vessels, it will use vertical takeoff and landing (VTOL) jets," the agency said in a release.
Technologies to be developed include those that other countries are unwilling to transfer, such as coating materials to protect the flying deck when VTOL aircraft exhaust over 1,000 degrees Celsius of heat, officials said.
Seven institutions, including the state-run Agency for Defense Development, Pusan National University and LIG Nex1 Co., will take part in the development.
The agency said it plans to wrap up the development of the core technologies by 2024.
Navy Chief of Staff Gen. Boo Suk-jung earlier said they will "thoroughly review diverse opinions and push for the project in the right direction."
This image, provided by the defense ministry on Aug. 10, 2020, shows the envisioned light aircraft carrier South Korea is pushing to secure by 2033. (PHOTO NOT FOR SALE) (Yonhap)
scaaet@yna.co.kr
(END)


yna--2020-10-27--Pastor fined for flouting in-person worship ban amid pandemic

`` The offense should not be taken lightly , considering the danger of COVID-19 transmissions and the importance of virus @ @ @ @ @ said .
But it took into consideration that the pastor admitted his wrongdoing and that @ @ @ @ @ occurred from the gathering , it added .

SEOUL, Oct. 27 (Yonhap) -- A pastor has been fined for violating an in-person worship ban imposed to contain the spread of the new coronavirus here, a local court said Tuesday.
The Gwangju District Court sentenced the pastor, only identified as a 57-year-old, to a fine of 2 million won (US$1,766) on charges of breaching the Infectious Disease Control and Prevention Act.
The pastor was accused of holding an in-person worship service attended by 198 people at a church in Gwangju, some 330 kilometers southwest of Seoul, on July 8, despite the city government's administrative order not to do so.
The city government had banned an indoor gathering of over 50 people and over 100 people outdoors from July 4-15, under the Level 2 social distancing scheme in the country's three-tier system, amid a resurgence of COVID-19 cases.
Under the infectious disease control act, those who violate the no-assembly order can be fined up to 3 million won.
"The offense should not be taken lightly, considering the danger of COVID-19 transmissions and the importance of virus prevention," the court said. But it took into consideration that the pastor admitted his wrongdoing and that no cases of virus transmission occurred from the gathering, it added.
In this photo provided by the Yoido Full Gospel Church in Seoul, the church holds its regular worship service online on Sept. 13, 2020, as only such services are permitted for churches in the greater Seoul area as part of measures to prevent the spread of the new coronavirus. (PHOTO NOT FOR SALE) (Yonhap)
nyway@yna.co.kr
(END)


yna--2020-10-27--SK Telecom to open flagship store by partnering with Apple and Microsoft

SK Telecom said it partnered with the U.S. tech giants and Samsung Electronics Co. to showcase their latest products and @ @ @ @ @ 's cloud gaming service , launched in September with Microsoft .
It added that the @ @ @ @ @ zone for Apple products .

SEOUL, Oct. 27 (Yonhap) -- SK Telecom Co., South Korea's largest wireless provider, said Tuesday it will open a new flagship store by working with Apple Inc. and Microsoft Corp.
The new store, named T Factory, in the trendy neighborhood of Hongik University in western Seoul, will open on Oct. 31, according to the carrier.
SK Telecom said it is collaborating with the U.S. tech giants and Samsung Electronics Co. to showcase their latest products and services, including the carrier's cloud gaming service, launched in September with Microsoft. It added that the store will have a separate zone for Apple products.
This photo, provided by SK Telecom Co. on Oct. 27, 2020, shows its new flagship store T Factory, located near Hongik University in Seoul's western ward of Mapo. (PHOTO NOT FOR SALE) (Yonhap)
The flagship store will also feature an unmanned zone in line with social distancing efforts amid the pandemic, where users can purchase or sell phones through digital kiosks, and receive pay plan recommendations via artificial intelligence.
The company said the store will target millennials and the younger Generation Z by offering services popular among young customers, such as virtual reality (VR) and augmented reality (AR) content.
Local telecom operators have recently moved to cater to the interests of younger generations.
LG Uplus Corp. said earlier this month it opened a seven-story product showroom in southern Seoul in September by partnering with local establishments and services popular among young customers, such as a bookstore and a YouTube filming studio in partnership with Google.
yunhwanchae@yna.co.kr
(END)


yna--2020-10-27--Samsung Display wins U.S. approval for panel shipment to Huawei: sources

`` With chip supply to Huawei basically halted at this moment , it is impossible for Huawei to make smartphones @ @ @ @ @ '' an official with a local electronics firm said .
`` In order for Huawei @ @ @ @ @ its products , restrictions on chip exports should be lifted . ''

SEOUL, Oct. 27 (Yonhap) -- Samsung Display Co., a major display panel maker in South Korea, has received approval from the U.S. government to supply certain display products to Huawei Technologies Co., sources here said Tuesday, amid Washington's sanctions against the Chinese tech giant.
Samsung Display recently acquired a license from the U.S. Commerce Department to export some of its smartphone OLED displays to Huawei. Samsung Display is the world's largest smartphone OLED display supplier.
The U.S. started to impose new export curbs on Huawei from Sept. 15, citing national security reasons. The sanctions ban the supply of components made with U.S. equipment, software and design to Huawei without prior approval from Washington.
The sources said Samsung Display is the first South Korean company to earn such approval from the U.S. after Washington's restrictions against Huawei went into effect.
This photo provided by Samsung Display Co. shows the company's plant in Asan, around 100 kilometers south of Seoul.(PHOTO NOT FOR SALE) (Yonhap)
Its domestic rival LG Display Co. and chipmakers Samsung Electronics Co. and SK hynix Inc. have yet to receive export licenses from the U.S. authorities, according to the sources.
Industry insiders said the U.S. may have granted the license to Samsung Display since display panels are less sensitive products compared to semiconductors, as Huawei can secure displays from BOE Technology Group Co. and other Chinese firms.
Intel Corp. and Advanced Micro Devices (AMD) Inc. have reportedly obtained licenses from the U.S. government to supply their computer and server processors.
But since Huawei, the world's second-largest smartphone vendor, is struggling to get memory chips from major suppliers, industry insiders said it is doubtful whether Huawei would increase its display procurement.
"With chip supply to Huawei basically halted at this moment, it is impossible for Huawei to make smartphones only with display panels," an official with a local electronics firm said. "In order for Huawei to have stable production of its products, restrictions on chip exports should be lifted."
kdon@yna.co.kr
(END)


yna--2020-10-27--(LEAD) New virus cases fall back below 100, sporadic cluster infections still worrisome

Heath authorities still believe the COVID-19 pandemic is at a manageable level in the country since it eased the social @ @ @ @ @ level on Oct. 12 , which allowed South Koreans to resume most of their daily @ @ @ @ @ .

(ATTN: ADDS details in para 11, last 7 paras; CHANGES photo)
SEOUL, Oct. 27 (Yonhap) -- South Korea's daily new coronavirus cases fell back below 100 again Tuesday, but concerns over a potential spike in infections still linger over sporadic cluster infections at risk-prone facilities, such as hospitals and nursing homes.
The country added 88 more COVID-19 cases, including 72 domestic infections, raising the total caseload to 26,043, according to the Korea Disease Control and Prevention Agency (KDCA).
The latest increase marks a sharp drop from 119 reported Monday but a rise from 61 posted Sunday.
Public officials receive coronavirus tests in a parking lot of City Hall in Naju, South Jeolla Province, southeastern South Korea, on Oct. 26, 2020. (Yonhap)
Group infections from hospitals and nursing homes were largely to blame for the latest uptick.
Heath authorities still believe the COVID-19 pandemic is at a manageable level in the country since it eased the social distancing scheme to the lowest level on Oct. 12, which allowed South Koreans to resume most of their daily activities while following basic guidelines.
Previously, indoor gatherings of 50 or more people were banned, which disrupted operations of shops and restaurants. Other riskier facilities, such as clubs and karaoke rooms, were ordered to fully shut down.
Such restrictions are now lifted with some strings attached, such as requesting the facilities keep entry logs of all visitors.
Health authorities warned that the number of COVID-19 patients may rise further in sync with the rising number of travelers enjoying autumn vacation. They are also keeping a watchful eye on clubgoers celebrating Halloween as well.
South Korea had learned its lesson in May, when it suffered major cluster infections from Seoul's nightlife district of Itaewon. Around 270 cases were traced to clubs in the area.
Public officials receive coronavirus tests in a parking lot of City Hall in Naju, South Jeolla Province, southeastern South Korea, on Oct. 26, 2020. (Yonhap)
Of the newly identified local infections, 24 cases were reported in Seoul and 27 cases in Gyeonggi Province that surrounds the capital. The greater Seoul area is home to around half of the nation's 51.6 million population.
Gangwon Province had six more patients, and North Gyeongsang Province reported five more cases.
The KDCA said cases traced to a rehabilitation hospital in Gwangju, south of Seoul, reached 135 as of Monday noon.
A total of 40 COVID-19 cases have been traced to a private gathering in the Guro Ward of Seoul, up 13 from the previous day.
The country added 16 imported cases.
The United States accounted for seven patients, followed by Poland with three and India with two additional cases. There were also COVID-19 cases from Myanmar, Switzerland, France and Ukraine.
Foreign nationals accounted for 43 percent of the total of 3,679 imported infections so far.
The number of seriously or critically ill COVID-19 patients came to 52, down one from the previous day.
South Korea reported three additional deaths, keeping the total at 460.
The fatality rate reached 1.77 percent.
The total number of people released from quarantine after making full recoveries stood at 23,981, up 76 from the previous day. So far, 92 percent of the patients reported here have been cured.
South Korea has carried out 2,567,587 COVID-19 tests, including 15,323 the previous day.
colin@yna.co.kr
(END)


yna--2020-10-27--BTS' 2014 album lands on Billboard main albums chart

`` BTS ' 'Skool Luv Affair ' debuts at No .
12 on this week 's Billboard 200 .
It @ @ @ @ @ career entry on the chart , '' the U.S. music publisher said in a Twitter @ @ @ @ @ time ) .

SEOUL, Oct. 27 (Yonhap) -- A 2014 EP album by K-pop megastar BTS has made a surprise debut on the Billboard main chart.
"BTS' 'Skool Luv Affair' debuts at No. 12 on this week's Billboard 200. It's the group's 12th career entry on the chart," the U.S. music publisher said in a Twitter post updated Monday (U.S. time).
"Skool Luv Affair," the septet's second EP released in February 2014, was recently republished and released after it won a fan vote on albums and DVDs that should be released again.
The feat is the latest in BTS' chart-breaking milestones.
After dominating the Billboard Hot 100 for the first time as a K-pop act with its single "Dynamite," BTS has remained in the top 10 for nine weeks.
The track has also stayed No. 1 on the digital song sales chart for nine straight weeks.
BTS is set to release its new album "BE" on Nov. 20.
This photo, provided by Big Hit Entertainment, shows a concept photo of K-pop sensation BTS' new album "BE," set to be released on Nov. 20, 2020. (PHOTO NOT FOR SALE) (Yonhap)
This photo, provided by Big Hit Entertainment, shows the members of BTS posing for photos during an online media day event in Seoul on Sept. 2, 2020. The band's "Dynamite" topped Billboard's main Hot 100 singles chart in the United States on Aug. 31. (PHOTO NOT FOR SALE) (Yonhap)
mlee@yna.co.kr
(END)


yna--2020-10-27--(2nd LD) S. Korea's economy returns to growth in Q3 as pandemic-caused trade slump eases

(ATTN: ADDS finance minister's remarks, details in paras 5-10, graphic)
By Kim Deok-hyun
SEOUL, Oct. 27 (Yonhap) -- South Korea's economy returned to modest growth in the third quarter, marking the first quarterly expansion since the coronavirus pandemic began, as exports showed signs of improvement, the Bank of Korea (BOK) said Tuesday.
In the July-September period, the nation's real gross domestic product (GDP) grew 1.9 percent from the previous quarter, when it shrank 3.2 percent, according to the BOK data.
The third-quarter reading marked the fastest expansion since the first quarter of 2010.
Compared with a year ago, however, the economy, Asia's fourth largest, contracted 1.3 percent, the BOK said.
Graphic GDP growth trend (Yonhap)
In August, the BOK expected South Korea's economy to contract 1.3 percent this year.
If the nation meets the target, the economy should grow around 1.5 percent in the third and fourth quarters.
Shortly after the data was released, Finance Minister Hong Nam-ki said the nation's economy is on the road to recovery, helped by robust growth in exports.
"The economy entered a recovery path for normalization of the economy," Hong told a policy meeting.
The economy is also expected to report an expansion in the fourth quarter, as advanced nations eased restrictions against the pandemic, Hong said.
Hong said the government will take measures to boost local consumption in the fourth quarter.
During the third quarter, exports grew by 15.6 percent, as overseas shipments of automobiles and semiconductors expanded, the BOK said.
Although the pandemic-caused trade slump eased as advanced nations lifted lockdown measures, domestic spending was still weak because of a resurgence of the new coronavirus in mid-August.
This file photo, taken June 4, 2020, shows stacks of import-export cargo containers at South Korea's largest seaport in Busan, 450 kilometers southeast of Seoul. (Yonhap)
Last month, South Korea saw exports rebound for the first time in seven months as major trade partners gradually resumed their business activities amid the pandemic.
Outbound shipments came to $48 billion last month, up 7.7 percent from $44.6 billion posted a year earlier.
Facility investment rose 6.7 percent on-quarter in the third quarter, the BOK said.
Private spending edged down 0.1 percent in the quarter, while government spending inched up 0.1 percent.
The government has so far boosted its budget spending by at least 67 trillion won (US$59.3 billion) with four batches of supplementary budgets to boost the virus-hit economy.
By sector, output by the manufacturing industry gained 7.6 percent on-quarter in the third quarter, a turnaround from a 8.9 percent plunge in the second quarter.
Output by the construction sector dipped 5.5 percent in the third quarter, while that of the service sector grew 0.7 percent.
(END)


yna--2020-10-27--Samsung Card Q3 net income up 41.1 pct. to 128.1 bln won

The operating profit was 22.2 percent higher than the average estimate , according to the survey by Yonhap Infomax , @ @ @ @ @ Yonhap News Agency .
The estimate of net profit was not available .
( END @

SEOUL, Oct. 27 (Yonhap) -- Samsung Card Co. on Tuesday reported its third-quarter net income of 128.1 billion won (US$113.4 million), up 41.1 percent from a year earlier.
The company said in a regulatory filing that it posted 173.4 billion won in operating profit for the quarter, compared with 120.1 billion won a year ago. Sales fell 10.4 percent to 772.1 billion won.
The operating profit was 22.2 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
(END)


yna--2020-10-27--Tottenham's Son Heung-min scores 8th goal, leads Premier League scoring

SEOUL, Oct. 27 (Yonhap) -- Tottenham Hotspur's Son Heung-min has become the top scorer in the Premier League, with his league-leading eighth goal giving his team a tight 1-0 victory.
In an away game against Burnley at Turf Moor in Burnley, Britain, on Monday (local time), Son headed in from close range after a headed pass from his English teammate Harry Kane in the 76th minute.
The winner is Son's eighth goal in the league's 2020-21 season and helped him take the lead in the Premier League scoring table, outnumbering Dominic Calvert-Lewin of Everton with seven and Patrick Bamford of Leeds United with six.
The South Korean attacker has scored 10 goals throughout this season, including two goals at the Europa League, to mark the fifth consecutive year of scoring at least 10 goals in a year.
It is also the 29th time that the prolific Son-Kane pair have combined for a Premier League goal. They are behind the pair of Chelsea's Didier Drogba and Frank Lampard who had linked up a record 36 times for league goals in total.
Thanks to Son's goal, Tottenham picked up a 1-0 win and rose to the fifth place on the 2020-21 Premier League standing.
In this EPA photo, Song Heung-min of Tottenham Hotspur celebrates after scoring a goal during the Premier League match against Burnley at Turf Moor in Burnley, Britain, on Oct. 26, 2020. (Yonhap)
brk@yna.co.kr
(END)


yna--2020-10-27--Seoul shares turn higher late Tues. morning on recovery hopes

While local stocks got off to a weak start , tracking overnight losses on Wall Street amid a global resurgence @ @ @ @ @ sentiment improved on positive growth data during the third quarter of the year .

SEOUL, Oct. 27 (Yonhap) = South Korean shares turned higher late Tuesday morning on growing optimism over the country's economic recovery as the country's economy returned to growth in the third quarter amid the pandemic.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.83 points, or 0.12 percent, to 2,346.74 as of 11:20 a.m.
While local stocks got off to a weak start, tracking overnight losses on Wall Street amid a global resurgence of the virus, investor sentiment improved on positive growth data during the third quarter of the year.
South Korea's economy expanded 1.9 percent in the July-Sept. period on-quarter, marking the first quarterly expansion since the coronavirus pandemic began, according to the Bank of Korea.
Most large caps traded higher in Seoul.
Top pharmaceutical firm Samsung Biologics gained 3.17 percent, and Celltrion rose 1.47 percent.
Leading automaker Hyundai Motor jumped 2.33 percent, and its smaller affiliate Kia Motors soared 9.49 percent.
Internet portal giant Naver added 1.6 percent, while leading chemical maker LG Chem slipped 1.24 percent.
Market kingpin Samsung Electronics shed 0.66 percent, while No. 2 chipmaker SK hynix edged down 0.12 percent.
The local currency was trading at 1,128.3 won to the U.S. dollar, down 0.6 won from the previous session's close.
yunhwanchae@yna.co.kr
(END)


yna--2020-10-27--USFK requires flu shots for all members, stresses vaccine safety

`` The potential exposure of the COVID-19 virus is something we can not afford to risk by delaying or avoiding @ @ @ @ @ your part to protect the force , and get your shot today , '' Abrams @ @ @ @ @ statement .

SEOUL, Oct. 27 (Yonhap) -- The U.S. Forces Korea (USFK) called on its members Tuesday to get flu vaccination, stressing that its flu vaccine is safe without reports of serious adverse effects.
All U.S. military members are required to receive the seasonal flu vaccine annually, and Commander Gen. Robert Abrams has directed all of the USFK members to get their flu shots by Dec. 1.
"The potential exposure of the COVID-19 virus is something we cannot afford to risk by delaying or avoiding the flu shot. Do your part to protect the force, and get your shot today," Abrams said according to the USFK statement.
The commander also said the flu vaccine, distributed by the U.S. Department of Defense, has been approved by the U.S. Food and Drug Administration and is safe.
"Unlike other global reports regarding various vaccines potentially linked to illness and death, there have been zero reports of serious adverse effects or reactions reported across the DoD medical system associated with this vaccine," the statement read.
The South Korean government has been implementing a free flu shots program for elderly and young citizens and called for the need to expand the program, as the country has been working hard to stem the spread of the new coronavirus and seasonal influenza.
Concerns, however, have grown over potential side effects of the vaccination after dozens died recently after taking flu shots, though the government has said there is no direct link between those deaths and vaccines.
A nurse shows a flu vaccine at a clinic in Seoul on Sept. 22, 2020. (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-10-27--Diplomats of S. Korea, Japan to hold talks over forced labor issue, export curbs

Suga has warned against any such move and called for Seoul to craft a solution to the issue , based @ @ @ @ @ all reparation issues stemming from Japan 's 1910-45 colonization of the Korean Peninsula were settled @ @ @ @ @ normalized bilateral relations .

SEOUL, Oct. 27 (Yonhap) -- Diplomats of South Korea and Japan will hold working-level talks in Seoul later this week on their protracted row over Tokyo's export restrictions and wartime history, a diplomatic source said Tuesday.
Kim Jung-han, director-general for Asia and Pacific affairs, is scheduled to meet with his Japanese counterpart, Shigeki Takizaki, on Thursday, in their first talks since Japanese Prime Minister Yoshihide Suga took office last month, the source said.
Japan's NHK reported earlier in the day that Takizaki, director general at the Japanese foreign ministry's Asian and Oceanian affairs bureau, will arrive in Seoul on Wednesday for a three-day visit for talks over the wartime forced labor issue.
The planned talks between Kim and Takizaki came as tensions between the two countries continued over a legal move to compensate the victims of wartime forced labor by selling off Korea-based assets of a Japanese firm.
Suga has warned against any such move and called for Seoul to craft a solution to the issue, based on Tokyo's claim that all reparation issues stemming from Japan's 1910-45 colonization of the Korean Peninsula were settled by a 1965 treat that normalized bilateral relations.
Kim and Takizaki last met face-to-face in Seoul in February. Due to coronavirus restrictions, they held video-linked talks in June.
During his stay in Seoul, Takizaki, who doubles as Tokyo's top nuclear envoy, also plans to meet South Korea's top nuclear negotiator Lee Do-hoon on Thursday.
They are expected to discuss the current security conditions on the Korean Peninsula and Pyongyang's possible saber-rattling before and after the Nov. 3 U.S. presidential election.
This file photo shows Shigeki Takizaki, director general at the Japanese foreign ministry's Asian and Oceanian affairs bureau, walking into the foreign ministry in Seoul on Feb. 6, 2020. (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-10-27--(LEAD) Send-off ceremony for late Samsung chief to be held Wednesday, mourners in queue

The burial site for Lee is expected to be in Yongin , where the graves of his parents are located @ @ @ @ @ coffin could head to Suwon , where his ancestors are buried .

(ATTN: UPDATES with more details in 5th para, last 3 paras)
By Joo Kyung-don
SEOUL, Oct. 27 (Yonhap) -- Samsung Group on Tuesday was preparing for the send-off ceremony for its late chief Lee Kun-hee as more leaders from business and political communities mourned the death of one of South Korea's most influential tycoons.
Lee died Sunday at age 78, more than six years after being hospitalized for a heart attack.
The funeral ceremony for Lee, scheduled for Wednesday, is expected to start with eulogies featuring his decadeslong commitment to the country's top conglomerate and his achievements, though Samsung Group did not reveal the entire process of the funeral service.
The funeral procession may travel to places where he left a footprint at Samsung before arriving at a burial site, including his house in Yongsan Ward, central Seoul, Samsung Electronics' headquarters in Suwon, just south of Seoul, and the company's chip plant in Yongin, Gyeonggi Province.
Leeum Samsung Museum in Yongsan, previously headed by his wife Hong Ra-hee, has also been floated as a potential stop in the procession.
The burial site for Lee is expected to be in Yongin, where the graves of his parents are located, but others said his coffin could head to Suwon, where his ancestors are buried.
Samsung earlier announced that Lee's funeral will be held in a modest manner with family members, and it courteously declined visits from others due to the COVID-19 pandemic.
Won Buddhist monks and officials enter a funeral hall at Samsung Medical Center in Seoul to attend a funeral service for the late Samsung Group chief Lee Kun-hee on Oct. 27, 2020. (Pool photo) (Yonhap)
Under the country's social distancing scheme, indoor gatherings of more than 50 people are not recommended in the greater Seoul area.
Samsung has accepted a small group of mourners, with virus prevention measures, such as keeping entry logs, being enforced at a funeral hall at Samsung Medical Center in southern Seoul.
On the third day of Lee's funeral service, business moguls, including LG Group Chairman Koo Kwang-mo, LS Group chief Koo Ja-yeol and Hyundai Card CEO Chung Tae-young, paid tribute to the late Samsung chief.
"Lee was a great businessman who enormously developed the country's tech industry," LG's Koo told reporters. "I'm very sad because it would have been better if these business greats live long and teach us more lessons."
Government officials and politicians, including former prime ministers Lee Hong-koo and Chung Un-chan, also offered their condolences.
They were joined by foreign ambassadors to the country, including German Ambassador Michael Reiffenstuel and Hungarian Ambassador Mozes Csoma.
LG Group Chairman Koo Kwang-mo enter a funeral hall at Samsung Medical Center in Seoul to attend a funeral service for late Samsung Group chief Lee Kun-hee on Oct. 27, 2020. (Pool photo) (Yonhap)
Lee Kee-heung, head of the South Korean Olympic committee, also mourned the late Samsung Group chief who served as a member of the International Olympic Committee (IOC) from 1996 to 2017.
Celebrities from the art and music industries, including pianist Cho Seong-jin, the winner of the International Chopin Piano Competition in 2015, and violin virtuoso Chung Kyung-wha, were also at the funeral hall, remembering Lee's contributions to the cultural sector.
Samsung expects more visitors later Tuesday since it is the last day for others to visit the funeral parlor before Lee's body is transported to a burial ground.
On Monday, top government officials, including Prime Minister Chung Sye-kyun and Finance Minister Hong Nam-ki, as well as political heavyweights from the ruling Democratic Party and the main opposition People Power Party, visited the funeral parlor and offered their condolences.
Business moguls, including Hyundai Motor Group chief Chung Euisun and SK Group Chairman Chey Tae-won, also made their visits Monday.
Vietnamese Prime Minister Nguyen Xuan Phuc sent a condolence message to the bereaved family Tuesday.
In the letter, delivered by Vietnamese Ambassador to Seoul Nguyen Vu Tung, Phuc expressed deep condolence over Lee's death and expressed appreciation for him for Samsung's efforts to help Vietnam and South Korea build close ties, according to diplomatic sources.
Samsung produces about half of its smartphones in the Southeast Asian country.
kdon@yna.co.kr
(END)


yna--2020-10-27--S. Korea an example of successful, transparent handling of pandemic: Knapper

His remarks came days after Alex Azar , White House secretary of health and human services , claimed South Korea @ @ @ @ @ the pandemic had only come from its use of military and police force to arrest @ @ @ @ @ come in close contact with those infected , adding such measures would not `` fly @ @ @ @ @ .

By Byun Duk-kun
WASHINGTON, Oct. 27 (Yonhap) -- South Korea is an example of how a country can deal with the new coronavirus pandemic successfully and transparently, a senior U.S. diplomat said Tuesday, in a sharp contrast to earlier remarks from a U.S. presidential secretary that South Korea used violent and unwarranted means to contain the virus from spreading.
"We looked at Korea as exemplar. We looked at Korea as a model for how to take on this pandemic," Marc Knapper, deputy assistant secretary of state for Korea and Japan, said in a webinar co-hosted by the Atlantic Council and the East Asia Foundation.
His remarks came days after Alex Azar, White House secretary of health and human services, claimed South Korea's success in dealing with the pandemic had only come from its use of military and police force to arrest anyone and everyone who had come in close contact with those infected, adding such measures would not "fly" in the United States.
The captured image shows Marc Knapper, U.S. deputy assistant secretary of state for Korea and Japan, speaking in a webinar co-hosted by the Atlantic Council and East Asia Foundation on Oct. 27, 2020, using the video communication platform Zoom. (PHOTO NOT FOR SALE) (Yonhap)
Knapper dismissed the claim, saying he is very proud of South Korea.
"Individuals weren't rounded up and enforced to stay in their homes under lock and key. I mean it was done in a way that respected Korea's democratic values and openness and transparency and also relied really on Korea's high-tech infrastructure," he said.
"And so, really a model for the world, an exemplar for the world and, you know, very proud to count Korea among our best friends, allies and partners," Knapper added.
bdk@yna.co.kr
(END)


yna--2020-10-27--Justice minister orders inspection of Seoul prosecution office over financial scam probe

The scandal involves Optimus Asset Management , which solicited funds worth about 1.2 trillion won ( US $ 1.06 billion @ @ @ @ @ for investments in public institutions but actually funneled most of the money into risky assets @ @ @ @ @ the investors .

SEOUL, Oct. 27 (Yonhap) -- Justice Minister Choo Mi-ae on Tuesday ordered an inspection into the Seoul prosecution office's decision in 2018 to drop charges against a hedge fund that is now at the center of a snowballing financial scandal.
The rare move appears to target Prosecutor General Yoon Seok-youl, who headed the Seoul Central District Prosecutors Office at that time and is currently at odds with Choo over a range of issues involving prosecution reforms and corruption cases.
The scandal involves Optimus Asset Management, which solicited funds worth about 1.2 trillion won (US$1.06 billion) from about 2,900 people for investments in public institutions but actually funneled most of the money into risky assets, causing huge losses to the investors.
In October 2018, the state-run Korea Communications Agency, which invested 106 billion won in Optimus, requested the prosecution to investigate the company over fraud, embezzlement and other allegations.
But the Seoul prosecutors' office cleared Optimus executives of the charges after a seven-month investigation.
Choo instructed the justice ministry to probe whether the prosecution office properly handled the case.
During a parliamentary session Monday, she slammed the investigation team for even not tracing bank accounts of those involved.
She also ordered inspectors to look into allegations that former senior prosecution officials may have lobbied the investigation team on behalf of the suspects.
The ruling Democratic Party also denounced Yoon for failing to stop the financial scandal from causing snowballing losses as the prosecutors' office under his leadership did not properly investigate the scandal.
Tensions between the justice minister and the chief prosecutor have heightened since last year following prosecutors' probe into former Justice Minister Cho Kuk, a key architect of President Moon Jae-in's drive for prosecution reform, and his family.
This photo, taken on Oct. 27, 2020, shows Justice Minister Choo Mi-ae. (Yonhap)
(END)


yna--2020-10-27--(LEAD) State pension fund to vote against LG Chem's spin-off plan

The proposal is unlikely to be voted down unless foreign investors , whose combined stakes are about 40 percent , @ @ @ @ @ but the possibility of disapproval can not be fully ruled out , industry watchers said @

(ATTN: UPDATES with more details from 6th para)
SEOUL, Oct. 27 (Yonhap) -- South Korea's National Pension Service (NPS) decided Tuesday to oppose LG Chem Ltd.'s plan to spin off its battery business at a shareholders' meeting later this week.
In September, LG Chem, the country's leading chemical company, announced a plan to separate the battery business to better cope with growing demand for electric vehicle (EV) batteries. The company plans to hold a shareholders' meeting for approval on Friday.
The state pension fund, the second-largest shareholder of LG Chem with a 10.2 percent stake, said it decided to vote against the plan at the meeting.
"We understand the intention and purpose of the company's spin-off plan but concluded that the move could undermine the NPS' shareholder value," the pension fund said.
Minority shareholders of LG Chem have cast similar views, claiming that their investment in the company would have no meaning if the battery business is separated.
LG Corp. and affiliated persons own 34.17 percent of the company as of the end of June, while investors with less than 1 percent stakes, including foreign investors, hold a combined 54.33 percent.
The passage of the plan requires approval by more than two-thirds of shareholders in attendance and by one-third of outstanding stocks.
The proposal is unlikely to be voted down unless foreign investors, whose combined stakes are about 40 percent, oppose it en masse, but the possibility of disapproval cannot be fully ruled out, industry watchers said.
LG Chem voiced regret over the NPS' decision.
"The planned spin-off is aimed at fostering a new world-class energy solution company with the battery business and raising shareholders' and corporate values," the company said. "We plan to actively communicate (with shareholders) until the meeting."
LG Chem said it is targeting launching the new entity -- tentatively called LG Energy Solutions and to be wholly owned by LG Chem -- on Dec. 1.
LG Chem's operating profit reached a record high of 902 billion won (US$799 million) in the third quarter, up 158.7 percent from a year earlier, on the back of robust sales of its petrochemical and EV battery units.
LG Chem's factory in Cheongju, a city located about 130 kilometers south of Seoul (Yonhap)
(END)


yna--2020-10-27--State pension fund to vote against LG Chem's spin-off plan

`` We understand the intention and purpose of the company 's spin-off plan but concluded that the move could undermine @ @ @ @ @ , '' the pension fund said .

SEOUL, Oct. 27 (Yonhap) -- South Korea's National Pension Service (NPS) decided Tuesday to oppose LG Chem Ltd.'s plan to spin off its battery business at a shareholders' meeting later this week.
In September, LG Chem, the country's leading chemical company, announced a plan to separate the battery business to better cope with growing demand for electric vehicle (EV) batteries. The company plans to hold a shareholders' meeting for approval on Friday.
The state pension fund, the second-largest shareholder of LG Chem with a 10.2 percent stake, said it decided to vote against the plan at the meeting.
"We understand the intention and purpose of the company's spin-off plan but concluded that the move could undermine the NPS' shareholder value," the pension fund said.
Minority shareholders of LG Chem have cast similar views, claiming that their investment in the company would have no meaning if the battery business is separated.
LG Corp. and affiliated persons own 34.17 percent of the company, while Investors with less than 1 percent stakes hold a combined 54.33 percent.
LG Chem's operating profit reached a record high of 902 billion won (US$799 million) in the third quarter, up 158.7 percent from a year earlier, on the back of robust sales of its petrochemical and EV battery units.
LG Chem's factory in Cheongju, a city located about 130 kilometers south of Seoul (Yonhap)
(END)


yna--2020-10-27--N.K. leader's increased public activities suggest he has better control over coronavirus: expert

The expert pointed out that Kim presided over an enlarged meeting of the Central Military Commission of the ruling Workers @ @ @ @ @ September and delivered a speech at a conference of war veterans to commemorate the 67th @ @ @ @ @ the 1950-53 Korean War .

SEOUL, Oct. 27 (Yonhap) -- North Korean leader Kim Jong-un's public activities have increased sharply since July, suggesting that he has better control in containing the coronavirus, a researcher at a state-run think tank said Tuesday.
Koh Jae-hong, a researcher at the Institute for National Security Strategy (INSS), said in a report that Kim's face-to-face activities dropped sharply in the first half of the year and were limited to the Pyongyang area or meeting only a few specific officials.
But such face-to-face meetings have been on the rise after July, he said.
The expert pointed out that Kim presided over an enlarged meeting of the Central Military Commission of the ruling Workers' Party in July and September and delivered a speech at a conference of war veterans to commemorate the 67th anniversary of the end of the 1950-53 Korean War.
Kim also delivered a speech in October as the North staged a massive military parade to mark the 75th founding anniversary of its ruling Workers' Party and recently visited typhoon-hit regions.
"This change appears to reflect North Korea's improved control over COVID-19 as a result of international assistance and others," the expert said.
He added, however, that "the increase in face-to-face contact between Kim Jong-un and military officials does not necessarily mean that the North is free from the risk of coronavirus infection."
An official disinfects a bus in Pyongyang amid the coronavirus pandemic, in this undated photo released by the North's official Korean Central News Agency on Sept. 4, 2020. (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)
julesyi@yna.co.kr
(END)