yna--2020-12-23--(3rd LD) Ex-justice minister's wife gets 4-year prison term over academic fraud scandal

Chung is accused of being involved in fabricating documentation from 2013-2014 , including a college presidential citation , in order @ @ @ @ @ to medical school .
She was also charged with investing in the PEF using somebody @ @ @ @ @ the code of ethics for public officials and embezzling around 150 million won through a @ @ @ @

(ATTN: MODIFIES lead; UPDATES with more details in paras 6, 10-11, 14, 19-22)
SEOUL, Dec. 23 (Yonhap) -- Former Justice Minister Cho Kuk's wife was sentenced by a Seoul court on Wednesday to imprisonment of four years for academic fraud and financial misconduct.
The Seoul Central District Court handed down the jail sentence, together with a fine of 500 million won (US$451,000) and a forfeit of 140 million won, to Chung Kyung-sim, the wife of the former presidential secretary for civil affairs and a close aide to President Moon Jae-in.
The court also ordered the immediate imprisonment of Chung.
Chung Kyung-sim (C), the wife of former Justice Minister Cho Kuk, arrives at the Seoul Central District Court in southern Seoul on Dec. 23, 2020, to attend her sentencing trial. (Yonhap)
Chung, 58-year-old professor of Dongyang University, was indicted in November last year on 15 counts of charges related to her daughter's college admission and her dubious investment in a private equity fund (PEF).
Chung is accused of being involved in fabricating documentation from 2013-2014, including a college presidential citation, in order to get her daughter admitted to medical school. She was also charged with investing in the PEF using somebody else's name to bypass the code of ethics for public officials and embezzling around 150 million won through a bogus consulting contract.
The court found Chung guilty of all charges related to academic fraud and some financial misconduct charges.
The court said Chung colluded with her husband to forge an internship certificate for their daughter, falsely claiming she participated in an international academic conference held at Seoul National University (SNU) Law School in May 2009.
Cho also participated in the forgery of a certificate about his daughter's internship at a Busan-based hotel, which was used for her university admission, it said.
The court also said it is sufficiently recognized that Chung forged a Dongyang University presidential citation for her daughter's college admission. It ruled that Chung obstructed the admission procedures of the SNU medical school by submitting fabricated qualifications and documents.
"The defendant has never admitted to her misconduct and inflicted mental pain on those who tell the truth. The nature of her crimes is serious, and her daughter gained some actual benefits in admission procedures, leading to unfair results for other unsuccessful candidates," the court said.
It said she is strongly blamed for creating negative consequences that betray society's belief in and expectations for the school admissions system.
Chung was also suspected of having been involved in the destruction of evidence by instructing her asset manager to conceal her office PC and delete PEF-related documents.
But the court said she cannot be punished for charges related to destruction of evidence and embezzlement of PEF money.
The court only found her guilty of committing illegal PEF investments using undisclosed information, earning profits from the investments and opening a false name account to conceal her assets, saying such acts are a grave crime that disrupts the market order.
Throughout court hearings, Chung denied all allegations against her, arguing that academic records of her daughter were just overstated instead of being fabricated and her PEF deal was not an investment but a simple loan.
Chung was released from nearly seven months of detention in May after the Seoul court decided not to extend her arrest.
In the previous hearing on Nov. 5, prosecutors demanded a prison term of seven years, a fine of 900 million won and a forfeiture of 160 million won for Chung.
Cho, who resigned as justice minister in October last year after just one month in office, was also indicted later on a dozen charges, including bribery, in connection with his daughter's academic credentials and school scholarship, as well as his family's suspicious private equity investments.
Chung immediately expressed her will to appeal her case through her lawyer.
"We're very embarrassed at today's ruling," lawyer Kim Chil-joon said, regretting that it seems to contain a lot of prejudgment, speculation and prejudice.
Cho also reacted to the ruling, saying he was greatly shocked.
"The acquittal related to the PEF embezzlement charge is fortunate. Perhaps this ordeal has become an inevitable fate after I was nominated as a minister," Cho said in a social media post, vowing to fight further in a higher court.
ycm@yna.co.kr
(END)


yna--2020-12-23--2023 World Scout Jamboree's executive committee to hold inaugural meeting next week

Kim Kyung-sun , the vice gender equality minister , said the government will `` work hard to prepare for the @ @ @ @ @ event and make it into an opportunity to further strengthen the country 's international stature @ @ @ @ @ K-quarantine ( Korea 's know-how in dealing with the coronavirus ) . ''

SEOUL, Dec. 23 (Yonhap) -- The executive committee for the 25th World Scout Jamboree will hold its first meeting next week to launch in earnest preparations for the international youth gathering scheduled to take place in South Korea in 2023, the government said Wednesday.
The World Scout Jamboree, an international youth camp held every four years to facilitate cultural exchange among teenagers across the world, is set to take place in Saemangeum, a reclaimed area located on the western coast of North Jeolla Province, from Aug. 1-12 in 2023.
This file photo, provided by the World Scout Jamboree organizing committee, shows the hosts of a celebratory event marking the 1,000-day countdown to the opening of the 2023 World Scout Jamboree to be held in South Korea from Aug. 1-12 in 2023. (PHOTO NOT FOR SALE) (Yonhap)
The Ministry of Gender Equality and Family, which oversees the event in South Korea, said the executive committee of the World Scout Jamboree organizing committee will hold its first meeting on Monday.
During the meeting, the ministry will introduce means of increasing state investment and providing administrative support. It has allocated a budget of 84.6 billion won (US$77.9 million) for the event.
The initially proposed budget stood at 49.1 billion won, but it was later increased to create infrastructure and facilities that would allow improved safety and convenience for the participants.
The government also plans to create a pan-ministerial support committee that would be headed by the prime minister in the near future.
Around 50,000 teenage scouts from 169 countries plan to take part in the 2023 World Scout Jamboree, according to the ministry.
Kim Kyung-sun, the vice gender equality minister, said the government will "work hard to prepare for the successful hosting of the Jamboree event and make it into an opportunity to further strengthen the country's international stature elevated by hallyu culture and K-quarantine (Korea's know-how in dealing with the coronavirus)."
nyway@yna.co.kr
(END)


Yonhap News Summary

The Seoul Central District Court handed down the jail sentence , together with a fine of 500 million won ( @ @ @ @ @ a forfeit of 140 million won , to Chung Kyung-sim , the wife of the @ @ @ @ @ affairs and a close aide to President Moon Jae-in .

The following is the second summary of major stories moved by Yonhap News Agency on Wednesday.
-----------------
(LEAD) S. Korea to halt flights from Britain until Dec. 31 over new virus strain woes
SEOUL -- South Korea said Wednesday it will suspend flights arriving from Britain until the end of this year over concerns about a new strain of the novel coronavirus.
The country's diplomatic missions in Britain will suspend issuing quarantine-waiver documents so as to place all arrivals from the European nation in a 14-day quarantine, according to health authorities.
-----------------
(2nd LD) Ex-justice minister's wife gets 4-year prison term over academic fraud scandal
SEOUL -- Former Justice Minister Cho Kuk's wife was sentenced by a Seoul court on Wednesday to imprisonment of four years for academic fraud and other charges.
The Seoul Central District Court handed down the jail sentence, together with a fine of 500 million won (US$451,000) and a forfeit of 140 million won, to Chung Kyung-sim, the wife of the former presidential secretary for civil affairs and a close aide to President Moon Jae-in.
-----------------
Vice FM expresses concerns to China over warplanes' entry into KADIZ
SEOUL -- Vice Foreign Minister Choi Jong-kun expressed concern Wednesday over the entry of Chinese warplanes into South Korea's air defense identification zone this week when he held a video call with his Chinese counterpart, a foreign ministry official said.
On Tuesday, four Chinese military aircraft and 15 Russian planes unilaterally entered the zone during what appeared to be their combined training, though none breached South Korea's territorial airspace, according to Seoul's Joint Chiefs of Staff.
-----------------
Moon replaces 10 vice minister-level officials
SEOUL -- President Moon-in has replaced 10 vice minister-level officials, including those at the foreign and education ministries, Cheong Wa Dae announced Wednesday.
Choi Jong-moon, former ambassador to France, has been tapped as second vice foreign minister, and Jung Jong-chul, the education ministry's director of planning and coordination, has been named vice education minster.
-----------------
(3rd LD) S. Korea confirms 20th highly pathogenic bird flu case
SEOUL -- South Korea's agricultural ministry said Wednesday it has identified this year's 20th highly pathogenic bird flu case from farms, amid deepening concerns over the nationwide spread of the contagious disease.
The latest case was reported at a duck farm in Yongin, just south of Seoul, according to the Ministry of Agriculture, Food and Rural Affairs.
-----------------
(LEAD) USFK to start administering Moderna vaccine this week: commander
SEOUL -- The U.S. Forces Korea (USFK) will start administering the Moderna COVID-19 vaccine to its members this week, Gen. Robert Abrams said Wednesday.
According to the U.S. Department of Defense's plan, Allgood Army Community Hospital inside Camp Humphreys in South Korea will be one of four sites outside the continental U.S. that will receive the initial vaccination.
-----------------
Seoul city to offer 800 bln won in low-interest loans to virus-hit small merchants
SEOUL -- The Seoul city government said Wednesday it is offering 800 billion won (US$721 million) in low-interest loans to small businesses hit hard by the coronavirus pandemic.
Acting Seoul Mayor Seo Jeong-hyup unveiled the plan during a press briefing, saying small business owners can apply for up to 30 million won at a 0.56 percent annual interest rate.
(END)


yna--2020-12-23--Debt-ridden SsangYong Motor temporarily suspends factory production

The carmaker said it will halt operations at its factory in Pyeongtaek , south of Seoul , on Dec. 24 @ @ @ @ @ five contractors , including Hyundai Mobis Co. , S & T Dynamics Co. and LG @ @ @ @ @ supply auto parts .

SEOUL, Dec. 23 (Yonhap) -- SsangYong Motor Co., a cash-strapped South Korean carmaker, said Wednesday it will suspend production for two days due to disruption of parts supplies from its contractors.
The carmaker said it will halt operations at its factory in Pyeongtaek, south of Seoul, on Dec. 24 and Dec. 28, as five contractors, including Hyundai Mobis Co., S&T Dynamics Co. and LG Hausys Ltd, refused to supply auto parts.
Ssangyong Motor said it is negotiating with its contractors and will resume operations on Dec. 29.
Their move came two days after the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd. filed for court receivership due to its 315.3 billion won (US$285 million) in overdue debt to financial institutions at home and abroad.
SsangYong Motor Co.'s factory in Pyeongtaek, south of Seoul, is seen in this photo taken on Dec. 21, 2020. (Yonhap)
SsangYong Motor has overdue debts of 100 billion won owed to foreign lenders like JP Morgan and 215 billion won to domestic lenders, such as Woori Bank and the state-run Korea Development Bank (KDB).
SsangYong asked its main creditor, the state-run Korea Development Bank (KDB), and other creditors to roll over the loans but failed to obtain approval from the lenders.
The company also received a three-month suspension of its obligation to pay its debts as it aims to find a new investor in the next three months before the court-led restructuring begins.
ejkim@yna.co.kr
(END)


yna--2020-12-23--Court deems Park government's 'artist blacklist' unconstitutional

A group of listed artists filed a petition with the Constitutional Court in April 2017 , alleging that withholding government @ @ @ @ @ 's overt support for an opposition party or the use of certain themes in artwork @ @ @ @ @ of expression and freedom of art .

SEOUL, Dec. 23 (Yonhap) -- The Constitutional Court unanimously ruled Wednesday that the former Park Geun-hye government's creation of a blacklist of artists was unconstitutional due to its infringement on freedom of expression.
The Park administration was accused of drawing up a list of artists deemed critical of the conservative president and excluding them from government subsidies.
A group of listed artists filed a petition with the Constitutional Court in April 2017, alleging that withholding government subsidies due to an artist's overt support for an opposition party or the use of certain themes in artwork was an infringement on freedom of expression and freedom of art.
"Restrictions based on certain views or ideologies are the most serious and harmful form of restriction on freedom of expression," the nine-member bench said in the ruling.
The blacklist "goes against the principle of people's sovereignty and the liberal democratic basic order," it added.
Park's former chief of staff, Kim Ki-choon, and former Culture Minister Cho Yoon-sun are currently on trial on charges of masterminding the creation of the blacklist.
Park was removed from office in March 2017 amid a massive corruption scandal involving her close friend. She is also standing trial on bribery and other charges.
This graphic image shows (from L to R) former presidential chief of staff Kim Ki-choon, former Culture Minister Cho Yoon-sun and former President Park Geun-hye. (Yonhap)
hague@yna.co.kr
(END)


yna--2020-12-23--(LEAD) Seoul stocks rebound nearly 1 pct on tech gains

LG Electronics surged by the daily permissible limit of 30 percent to 119,500 won , after the firm revealed its @ @ @ @ @ car parts joint venture worth about US $ 1 billion next year with Canadian auto @ @ @ @ @ .

(ATTN: ADDS bond yields at bottom, photo)
SEOUL, Dec. 23 (Yonhap) -- South Korean stocks rebounded by almost 1 percent Wednesday after the previous session's plunge, backed by strong advances by tech giants. The Korean won fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.14 points, or 0.96 percent, to 2,759.82.
Trading volume was high at about 1.1 billion shares worth some 19.9 trillion won (US$18 billion), with losers outnumbering gainers 491 to 360.
Foreigners bought a net 83 billion won, snapping a four-session selling streak, while retail investors sold a net 383 billion won. Institutions purchased a net 301 billion won.
"Foreign buying increased in the afternoon and largely contributed to the (KOSPI's) 1 percent gain," KB Securities analyst Ha In-hwan said.
Electronic signboards at a Hana Bank dealing room in Seoul show the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,759.82 on Dec. 23, 2020, up 26.14 points or 0.96 percent from the previous session's close. (Yonhap)
The key index rebounded on optimism for a better corporate environment next year. Chip and auto shares led the gain, while pharmaceuticals slumped.
However, concerns over a new strain of COVID-19 in Britain and discord over the U.S. stimulus deal lingered.
Most large caps closed higher.
Market bellwether Samsung Electronics added 2.21 percent to 73,900 won, and No. 2 chipmaker SK hynix jumped 3.11 percent to 116,000 won.
LG Electronics surged by the daily permissible limit of 30 percent to 119,500 won, after the firm revealed its plan to launch an electric car parts joint venture worth about US$1 billion next year with Canadian auto parts company Magna International Inc.
Internet portal giant Naver finished unchanged at 284,000 won, and its rival Kakao gained 0.4 percent to 377,500 won.
Pharmaceutical giant Samsung Biologics lost 0.87 percent to 796,000 won, but Celltrion declined 1.11 percent to 355,000 won.
Leading chemical firm LG Chem rose 1.13 percent to 806,500 won, while rechargeable battery maker Samsung SDI moved down 0.18 percent to 554,000 won.
Hyundai Motor, the country's largest carmaker, went up 0.54 percent to 185,000 won.
The local currency closed at 1,107.9 won against the U.S. dollar, down 0.5 won from the previous session's close.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 1.3 basis points to 0.932 percent, and the return on the benchmark five-year government bond fell 2.3 basis points to 1.279 percent.
jwc@yna.co.kr
(END)


yna--2020-12-23--S. Korean Bond Yields on Dec. 23, 2020

S. Korean Bond Yields on Dec. 23, 2020

(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--2020-12-23--(LEAD) LG Electronics to set up EV parts JV with Canada's Magna

The company , which has experience in developing electric vehicle ( EV ) components for General Motors ' Chevrolet Bolt @ @ @ @ @ said the joint venture will improve its competitiveness in the EV parts business through synergy @ @ @ @ @ expertise in electric powertrain systems .

(ATTN: ADDS more details in paras 4, 6-9)
SEOUL, Dec. 23 (Yonhap) -- LG Electronics Inc. said Wednesday it will launch an electric car parts joint venture worth about US$1 billion next year with Canadian auto parts company Magna International Inc. as it seeks to boost its presence in the auto parts industry.
The South Korean electronics giant said it will hold a 51 percent stake in the joint venture, with the rest owned by Magna International.
LG said it will first spin off its electric car parts business to create the new company, tentatively named LG Magna e-Powertrain Co., which will then be partly acquired by Magna International for $453 million.
The new joint venture will specialize in manufacturing electric car motors and parts such as inverters and board chargers.
This image, provided by LG Electronics Inc. on Dec. 23, 2020, shows a graphic of electric car parts. The company said the same day it will launch an electric car parts joint venture with Canadian auto-parts company Magna International Inc. next year. (PHOTO NOT FOR SALE) (Yonhap)
LG said it plans to hold a shareholder meeting in March next year for approval of its plan and launch the joint venture in July.
The company, which has experience in developing electric vehicle (EV) components for General Motors' Chevrolet Bolt and Jaguar's I-Pace, said the joint venture will improve its competitiveness in the EV parts business through synergy with Magna, which has expertise in electric powertrain systems.
The move comes after LG Electronics bought Austrian automotive lighting system firm ZKW Group in a deal worth 1.44 trillion won (US$1.3 billion) in 2018.
The broader LG Group has recently focused its efforts on electric car parts technology, with affiliate LG Chem Ltd. spinning off its EV battery business into a separate company, LG Energy Solution Ltd., earlier this month.
Shares in LG Electronics surged by the daily permissible limit of 30 percent to close at 119,500 won, far outperforming the broader KOSPI's near 1 percent gain. Shares in LG Corp., the holding company of LG Group, also rose 10.34 percent to 86,400 won.
yunhwanchae@yna.co.kr
(END)


yna--2020-12-23--Vice FM expresses concerns to China over warplanes' entry into KADIZ

`` The two vice ministers shared an understanding on the importance of summit- and high-level exchanges for the development of @ @ @ @ @ agreed to further promote high-level exchanges and cooperation in various ways , including face-to-face and @ @ @ @ @ ministry said .

SEOUL, Dec. 23 (Yonhap) -- Vice Foreign Minister Choi Jong-kun expressed concern Wednesday over the entry of Chinese warplanes into South Korea's air defense identification zone this week when he held a video call with his Chinese counterpart, a foreign ministry official said.
On Tuesday, four Chinese military aircraft and 15 Russian planes unilaterally entered the zone during what appeared to be their combined training, though none breached South Korea's territorial airspace, according to Seoul's Joint Chiefs of Staff.
"During the videoconference, they discussed the matter in terms of how to manage and improve the situation," the official said on condition of anonymity of Choi's talks with his Chinese counterpart, Le Yucheng.
The foreign ministry later issued a press release saying that the two sides agreed to continue close communication regarding "what can mutually be regarded as a sensitive matter."
At the talks, the vice ministers also agreed to further promote high-level exchanges and communication in "various ways," such as in-person or online engagement, despite the COVID-19 pandemic.
Seoul and Beijing have been in talks to arrange a visit to Seoul by Chinese President Xi Jinping, but his trip has been delayed due to the third wave of the pandemic here.
"The two vice ministers shared an understanding on the importance of summit- and high-level exchanges for the development of South Korea-China ties, and agreed to further promote high-level exchanges and cooperation in various ways, including face-to-face and non-face-to-face methods," the ministry said.
The two sides also agreed to faithfully implement a series of agreements that Foreign Minister Kang Kyung-wha and her Chinese counterpart Wang Yi reached during Wang's visit here last month.
The agreements include the launch of a joint committee on the future development of bilateral relations.
This composite photo, released by the foreign ministry, shows Vice Foreign Minister Choi Jong-kun (top) and his Chinese counterpart, Le Yucheng, during their videoconference. (PHOTO NOT FOR SALE) (Yonhap)
sshluck@yna.co.kr
(END)


yna--2020-12-23--Seoul stocks rebound nearly 1 pct on tech gains

SEOUL, Dec. 23 (Yonhap) -- South Korean stocks rebounded by almost 1 percent Wednesday after the previous session's plunge, backed by strong advances by tech giants. The Korean won fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.14 points, or 0.96 percent, to 2,759.82.
Trading volume was high at about 1.1 billion shares worth some 19.9 trillion won (US$18 billion), with losers outnumbering gainers 491 to 360.
Foreigners bought a net 83 billion won, snapping a four-session selling streak, while retail investors sold a net 383 billion won. Institutions purchased a net 301 billion won.
"Foreign buying increased in the afternoon and largely contributed to the (KOSPI's) 1 percent gain," KB Securities analyst Ha In-hwan said.
The key index rebounded on optimism for a better corporate environment next year. Chip and auto shares led the gain, while pharmaceuticals slumped.
However, concerns over a new strain of COVID-19 in Britain and discord over the U.S. stimulus deal lingered.
Most large caps closed higher.
Market bellwether Samsung Electronics added 2.21 percent to 73,900 won, and No. 2 chipmaker SK hynix jumped 3.11 percent to 116,000 won.
LG Electronics surged by the daily permissible limit of 30 percent to 119,500 won, after the firm revealed its plan to launch an electric car parts joint venture worth about US$1 billion next year with Canadian auto parts company Magna International Inc.
Internet portal giant Naver finished unchanged at 284,000 won, and its rival Kakao gained 0.4 percent to 377,500 won.
Pharmaceutical giant Samsung Biologics lost 0.87 percent to 796,000 won, but Celltrion declined 1.11 percent to 355,000 won.
Leading chemical firm LG Chem rose 1.13 percent to 806,500 won, while rechargeable battery maker Samsung SDI moved down 0.18 percent to 554,000 won.
Hyundai Motor, the country's largest carmaker, went up 0.54 percent to 185,000 won.
The local currency closed at 1,107.9 won against the U.S. dollar, down 0.5 won from the previous session's close.
jwc@yna.co.kr
(END)


yna--2020-12-23--(2nd LD) Ex-justice minister's wife gets 4-year prison term over academic fraud scandal

Chung is accused of being involved in fabricating documentation from 2013-2014 , including a college presidential citation , in order @ @ @ @ @ to medical school .
She was also charged with investing in the PEF using somebody @ @ @ @ @ the code of ethics for public officials and embezzling around 150 million won ( US @ @ @ @ @ bogus consulting contract .

(ATTN: UPDATES with more details in paras 1, 2, 6-11; CHANGES photo)
SEOUL, Dec. 23 (Yonhap) -- Former Justice Minister Cho Kuk's wife was sentenced by a Seoul court on Wednesday to imprisonment of four years for academic fraud and other charges.
The Seoul Central District Court handed down the jail sentence, together with a fine of 500 million won (US$451,000) and a forfeit of 140 million won, to Chung Kyung-sim, the wife of the former presidential secretary for civil affairs and a close aide to President Moon Jae-in.
The court also ordered the immediate imprisonment of Chung.
Chung Kyung-sim (C), the wife of former Justice Minister Cho Kuk, arrives at the Seoul Central District Court in southern Seoul on Dec. 23, 2020, to attend her sentencing trial. (Yonhap)
Chung, 58-year-old professor of Dongyang University, was indicted in November last year on 15 counts of charges related to her daughter's college admission and her dubious investment in a private equity fund (PEF).
Chung is accused of being involved in fabricating documentation from 2013-2014, including a college presidential citation, in order to get her daughter admitted to medical school. She was also charged with investing in the PEF using somebody else's name to bypass the code of ethics for public officials and embezzling around 150 million won (US$135,000) through a bogus consulting contract.
The court said Chung colluded with her husband to forge an internship certificate for their daughter, falsely claiming she participated in an international academic conference held at Seoul National University (SNU) Law School in May 2009.
Cho also participated in the forgery of a certificate about his daughter's internship at a Busan-based hotel, which was used for her university admission.
The court also said it is sufficiently recognized that Chung forged a Dongyang University presidential citation for her daughter's college admission and her daughter had never done award-winning volunteer work at the private university.
It ruled that Chung obstructed the admission procedures of the SNU medical school by submitting fabricated qualifications and documents.
Chung was also suspected of having been involved in the destruction of evidence by instructing her asset manager to conceal her office PC and delete PEF-related documents.
But the court said she cannot be punished for charges related to destruction of evidence and embezzlement of PEF money.
Throughout court hearings, Chung denied all allegations against her, arguing that academic records of her daughter were just overstated instead of being fabricated and her PEF deal was not an investment but a simple loan.
Chung was released from nearly seven months of detention in May after the Seoul court decided not to extend her arrest.
In the previous hearing on Nov. 5, prosecutors demanded a prison term of seven years, a fine of 900 million won and a forfeiture of 160 million won for Chung.
Cho, who resigned as justice minister in October last year after just one month in office, was also indicted later on a dozen charges, including bribery, in connection with his daughter's academic credentials and school scholarship, as well as his family's suspicious private equity investments.
ycm@yna.co.kr
(END)


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yna--2020-12-24--S. Korean stocks trade higher late Thurs. morning on vaccine deals

The country has experienced a surge in new COVID-19 cases in recent weeks , prompting the government to roll out @ @ @ @ @ as banning private gatherings of five or more people .

SEOUL, Dec. 24 (Yonhap) -- South Korean stocks traded higher late Thursday morning as the country clinched additional deals to purchase COVID-19 vaccines, buoying hopes for a faster-than-expected economic recovery.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 22.29 points, or 0.81 percent, to 2,782.11 as of 11:20 a.m.
The key index started off firm after Prime Minister Chung Sye-kyun said the country signed deals to buy COVID-19 vaccines from U.S. pharmaceutical giant Pfizer and Johnson & Johnson's Janssen.
South Korea struck a deal for AstraZeneca's COVID-19 vaccine last month.
The government plans to sign a deal for Moderna's vaccine next month and start its vaccination program in the second quarter of next year.
The country has experienced a surge in new COVID-19 cases in recent weeks, prompting the government to roll out stronger antivirus measures, such as banning private gatherings of five or more people.
Most large caps in Seoul traded higher.
Market bellwether Samsung Electronics jumped 2.44 percent, and No. 2 chipmaker SK hynix rose 0.43 percent.
Leading chemical firm LG Chem advanced 1.12 percent, and rechargeable battery maker Samsung SDI added 1.08 percent.
Hyundai Motor, the country's largest carmaker, rose 1.08 percent.
Pharmaceutical giant Samsung Biologics edged up 0.25 percent, while Celltrion slipped 1.69 percent.
Internet portal giant Naver fell 0.53 percent, and rival Kakao lost 0.53 percent.
The local currency was trading at 1,104.3 won against the U.S. dollar, up 3.6 won from the previous session's close.
yunhwanchae@yna.co.kr
(END)


yna--2020-12-24--Public disapproval rating of Moon soars to record high 59.1 pct: Realmeter

In the Realmeter survey conducted on 1,505 voters nationwide for three days through Wednesday , 37.4 percent of the respondents @ @ @ @ @ his presidency , down 2.1 percentage points from the previous figure last week .

SEOUL, Dec. 24 (Yonhap) -- President Moon Jae-in saw his public disapproval rating rise further to hit a record high 59.1 percent this week, an opinion poll showed Thursday.
In the Realmeter survey conducted on 1,505 voters nationwide for three days through Wednesday, 37.4 percent of the respondents gave a positive assessment of his presidency, down 2.1 percentage points from the previous figure last week.
The latest reading marks the fourth consecutive week Moon's approval rating has stayed below 40 percent.
Meanwhile, his disapproval rating rose 1.4 percentage points to hit 59.1 percent, the highest negative reception the president has had since taking office in May 2017.
President Moon Jae-in speaks during a meeting with the leaders of the five major constitutional organizations held at the presidential office Cheong Wa Dae on Dec. 22, 2020. (Yonhap)
Meanwhile, the support rating for the main opposition People Power Party (PPP) came in at 33.6 percent, further expanding the conservative party's opinion poll lead over the ruling Democratic Party (DP), which recorded a 30 percent approval rating.
Compared with the previous poll last week, the approval ratings for the PPP and the DP are up 2 percentage points and down 0.6 percentage point, respectively.
Approval ratings for the liberal Open Democratic Party, the minor opposition People's Party and the progressive minor Justice Party were 6.2, 6.1 and 4.5 percent, respectively.
The survey, commissioned by local broadcaster TBS, has a confidence level of 95 percent with a margin of error of plus or minus 2.5 percentage points.
Graphic This graph shows the latest survey results on the approval ratings for President Moon Jae-in and South Korea's political parties. (Yonhap)
nyway@yna.co.kr
(END)


yna--2020-12-24--11 draftees, one Navy officer test positive for new coronavirus

Currently , 898 service members are in isolation in accordance with the health authorities ' guidelines , and the military @ @ @ @ @ people under stricter antivirus schemes of its own as a preventive step , according to @ @ @

SEOUL, Dec. 24 (Yonhap) -- Eleven new draftees and a Navy officer have tested positive for the new coronavirus, the defense ministry said Thursday.
The draftees entered the Army boot camp in the central city of Nonsan earlier this week but were transferred to civilian hospitals after testing positive for COVID-19 on Wednesday, according to the ministry.
Contact tracing is under way, it added.
All new enlistees are required to take COVID-19 tests.
The latest cases are not included in the military's own statistics of virus cases, as newcomers earn status as military members one week after joining a boot camp.
All able-bodied South Korean men must serve about two years in the armed forces.
Among military members, a Navy officer stationed on the southern island of Jeju tested positive, bringing the total number of COVID-19 infections at the barracks to 491.
He underwent a test after coming into close contact with his friend who was earlier confirmed to have been infected, according to the ministry.
Currently, 898 service members are in isolation in accordance with the health authorities' guidelines, and the military has quarantined an additional 4,208 people under stricter antivirus schemes of its own as a preventive step, according to the ministry.
Nationwide, the country added 985 more COVID-19 cases, including 955 local infections, raising the total caseload to 53,533, according to the Korea Disease Control and Prevention Agency (KDCA).
A military official collects a sample from an enlistee for a coronavirus test upon his joining the military at a Navy boot camp on July 20, 2020, in this photo provided by the Navy. (PHOTO NOT FOR SALE) (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-12-24--The Korea Interbank Offered Rates (KORIBOR)

SEOUL , Dec. 24 ( Yonhap ) -- The Korea Interbank Offered Rates ( KORIBOR ) as posted by Yonhap @ @ @ @ @ and information arm of Yonhap News Agency , at 11:00 a.m .


yna--2020-12-24--S. Korea's financial market stable but faces growing uncertainties from pandemic: BOK

As of the end of September , households ' debt to disposable income ratio came to 171.3 percent , up @ @ @ @ @ period last year , according to the BOK .

SEOUL, Dec. 24 (Yonhap) -- South Korea's financial market continues to be stable, but the coronavirus pandemic is likely to add growing uncertainties to the nation's financial system, the Bank of Korea (BOK) said Thursday.
The nation's financial market maintained stability as an economic downturn from the pandemic eased, the BOK said in a biennial report on financial stability submitted to the National Assembly.
However, the financial market faces more uncertainties due to a rapid resurgence of the virus at home and abroad amid a fragile recovery of the global economy, the BOK said.
The country's financial stability index shot up to 22.3 in April, breaching the lower boundary for a crisis warning, but it has since come down to 7.7.
As of end-September, outstanding debt of South Korean households reached 1,682.2 trillion won (US$1.51 trillion), up 7 percent from a year ago.
Local households' ability to pay back their debts worsened due to reductions in income, apparently caused by the new coronavirus outbreak.
As of the end of September, households' debt to disposable income ratio came to 171.3 percent, up 10.7 percent from the same period last year, according to the BOK.
The BOK warned that vulnerable households may fail to repay their debts if an economic recovery is delayed.
Businesses too may face serious problems should conditions worsen.
Outstanding debt of South Korean firms stood at 1,332 trillion won at the end of September, up 15.5 percent from a year ago, the BOK said.
The BOK noted the need to cope with a potential credit crisis if an economic recovery falters.
Last month, the BOK held its policy rate unchanged at a record low of 0.5 percent, while slightly revising up this year's economic outlook, amid growing concerns over the nation's third wave of coronavirus infections.
Driven by signs of a modest recovery in exports, the BOK revised up this year's economic growth outlook to a 1.1 percent contraction, compared with a previous forecast of a 1.3 percent retreat.
The BOK expected the economy to grow 3 percent next year, faster than a previous forecast of 2.8 percent expansion for 2021.
kdh@yna.co.kr
(END)


yna--2020-12-24--5 automakers to recall over 210,000 vehicles

The companies have begun to provide or will offer repair and replacement services .
Vehicle owners can contact or visit @ @ @ @ @ to replace the parts free of charge , the ministry said .

SEOUL, Dec. 24 (Yonhap) -- GM Korea, BMW, Audi and two other companies will voluntarily recall over a combined 210,000 vehicles to fix faulty components, the transport ministry said Thursday.
This is the latest in a series of recall plans for local and overseas carmakers and importers of foreign vehicles.
The five companies, comprising GM Korea Co., BMW Group Korea, Audi-Volkswagen Korea, Nissan Motor Co. and Fiat Chrysler Automobiles N.V. (FCA) Korea, are recalling 76 models amounting to 210,738 units, according to the Ministry of Land, Infrastructure and Transport.
The problems include a faulty control unit for automatic transmission in GM's Chevrolet Lacetti, a flawed timing chain in BMW's 44 models and a faulty cam shaft control system of Audi's A6 series vehicles, it said.
The companies have begun to provide or will offer repair and replacement services. Vehicle owners can contact or visit designated repair and service centers to replace the parts free of charge, the ministry said.
ejkim@yna.co.kr
(END)


yna--2020-12-24--Temporary testing centers effective in detecting hidden infections

SEOUL , Dec. 24 ( Yonhap ) -- Temporary coronavirus testing centers now in operation throughout the greater Seoul area @ @ @ @ @ hidden infections , officials said Thursday , announcing as many as 150 cases were confirmed @ @ @ @ @ day alone .

SEOUL, Dec. 24 (Yonhap) -- Temporary coronavirus testing centers now in operation throughout the greater Seoul area have contributed greatly to detecting hidden infections, officials said Thursday, announcing as many as 150 cases were confirmed through their testing the previous day alone.
According to the Central Disease Control Headquarters, 58,091 people were tested by the makeshift screening facilities Wednesday and 150 of them were diagnosed with COVID-19.
Patients detected this way accounted for 15.7 percent of all new daily COVID-19 cases reported by Seoul and neighboring Gyeonggi Province and Incheon on the day, the agency noted.
As a result, the cumulative number of coronavirus cases detected by about 150 temporary testing centers, which began operations on Dec. 14 for three weeks, rose to 904, it said.
Earlier this week, the Seoul city government said 1 in 4 new daily COVID-19 cases in the capital were confirmed through the street testing.
Delivery workers wait to take coronavirus tests at a mobile testing center set up at a logistics center in southern Seoul on Dec. 24, 2020. (Yonhap)
Encouraged by the preemptive testing results, the Seoul government has also launched the operation of a mobile screening center tasked with conducting preemptive tests on vulnerable groups at their work and residential places.
The mobile testing center capable of carrying out about 1,000 tests a day began its operation Wednesday at a logistics center in southern Seoul, where about 8,000 delivery workers are on duty.
The mobile center plans to visit other vulnerable places, including nursing homes and religious facilities, in the coming days, the city government said.
ycm@yna.co.kr
(END)


yna--2020-12-24--S. Korean oil tanker recently inspected by Chinese authorities: ministry

`` Recently , a South Korean-flagged vessel has been inspected by the Chinese authorities in waters near China , but @ @ @ @ @ it has nothing to do with the sanctions against North Korea , '' the ministry @ @ @ @ @

SEOUL, Dec. 24 (Yonhap) -- China stopped and inspected a South Korean-flagged oil and chemical tanker for an unspecified reason earlier this month, the foreign ministry said Thursday, dismissing a news report that the vessel was suspected of involvement in an illicit ship-to-ship transfer of oil to North Korea.
The Chinese authorities stopped the 9,000-ton vessel with some 20 people, including four South Koreans on board, in waters near Macao around the middle of this month. The vessel, which was released last weekend, is currently en route to South Korea.
Earlier in the day, the Chosun Ilbo newspaper reported that the Chinese coast guard had seized the ship on suspicion of having sold oil to North Korea in a ship-to-ship transfer banned under the U.N. Security Council sanctions regime.
"Recently, a South Korean-flagged vessel has been inspected by the Chinese authorities in waters near China, but it has been confirmed that it has nothing to do with the sanctions against North Korea," the ministry said in a statement.
"The Chinese side has not raised any allegations of the vessel breaching sanctions either," it added.
Upon arrival, the Seoul government is expected to further check why the vessel came under Chinese legal scrutiny.
sshluck@yna.co.kr
(END)


yna--2020-12-24--(2nd LD) S. Korea signs deals to purchase vaccines from Janssen, Pfizer

`` The government will pay thorough attention to make sure that the public can be vaccinated as soon as possible @ @ @ @ @ while carefully studying the safety and effectiveness of the vaccines administered ( overseas ) , @ @ @ @ @ said during an interagency meeting on the COVID-19 pandemic response .

(ATTN: CHANGES headline, lead; UPDATES throughout with more details; ADDS photo)
SEOUL, Dec. 24 (Yonhap) -- South Korea has signed deals with Johnson & Johnson's Janssen and Pfizer to purchase COVID-19 vaccines, with a goal of starting vaccinations in the second quarter of 2021, health authorities said Thursday.
The government will buy vaccines for 10 million people from Pfizer and 6 million from Janssen, which was up from its initial plan for 4 million people, according to the Korea Disease Control and Prevention Agency (KDCA).
The government formally struck a purchase deal with AstraZeneca in late November and made an advance payment of 85 billion won (US$77.6 million) in October to the World Health Organization's global vaccine project, known as COVAX.
The government plans to sign contracts next month with Moderna and COVAX to secure vaccines for 10 million people from each, the KDCA said.
A medical worker at a temporary COVID-19 screening station warms up her hands on Dec. 24, 2020. (Yonhap)
Vaccines by AstraZeneca, Pfizer and Moderna require two shots for immunization, and Janssen's vaccine requires one shot.
The government has set a goal of securing vaccines for 44 million people, enough to cover 88 percent of the nation's population, but the purchase deals are expected to cover 46 million with increased supplies from Janssen.
AstraZeneca's vaccines will be first shipped around February and March, followed by Janssen's in the second quarter of 2021 and Pfizer's in the third quarter, according to health officials.
Prime Minister Chung Sye-kyun said the government plans to start the vaccine program in the second quarter of next year, vowing to mobilize all resources to advance shipments of the vaccines for the goal.
"The government will pay thorough attention to make sure that the public can be vaccinated as soon as possible, without any anxiety, while carefully studying the safety and effectiveness of the vaccines administered (overseas)," Prime Minister Chung Sye-kyun said during an interagency meeting on the COVID-19 pandemic response.
The announcement came amid growing criticism over the Moon Jae-in administration's vaccine procurement program. Critics argued that South Korea is lagging behind other nations in securing the supply of vaccines due to Moon's "miscalculation" of the situation.
pbr@yna.co.kr
(END)


yna--2020-12-24--S. Korean public sector debt grows at fastest pace in 5 years in 2019

The country 's public sector debt , known as D3 , which includes the debt of the central government and @ @ @ @ @ 1,132.6 trillion won as of end-2019 , up 5.1 percent , or 54.6 trillion won @ @ @ @ @ , according to the Ministry of Strategy and Finance .

SEJONG, Dec. 24 (Yonhap) -- South Korea's public sector debt climbed at the fastest clip in five years in 2019 to exceed the 1,100 trillion-won (US$1 trillion) mark, the government said Thursday.
The country's public sector debt, known as D3, which includes the debt of the central government and state-funded firms, came to 1,132.6 trillion won as of end-2019, up 5.1 percent, or 54.6 trillion won, from the previous year, according to the Ministry of Strategy and Finance.
The on-year increase in the public debt represents the highest growth rate since the 6.5 percent gain recorded in 2014.
The 2019 tally accounted for 59 percent of the country's gross domestic product last year, up 2.2 percentage points from a year earlier.
General government debt (D2), which covers the central and provincial governments, and nonprofit public institutions, reached 810.7 trillion won, up 6.7 percent, or 51 trillion won, from a year earlier.
Its percentage of the GDP climbed 2.2 percentage points to 42.2 percent last year.
The ministry said general government debt increased in 2019 from the prior year due to a decline in tax revenue and increased government bond sales.
Asia's fourth-largest economy had the sixth-lowest D2-to-GDP ratio among 33 members of the Organization for Economic Cooperation and Development (OECD). The OECD average stood at 110 percent.
(END)


yna--2020-12-24--BOK to extend special loan program for pandemic-hit firms by 6 months

The special loan program had been set to expire on Jan. 13 next year , but the BOK 's policy @ @ @ @ @ July 13 , 2021 , the central bank said in a statement .

SEOUL, Dec. 24 (Yonhap) -- The Bank of Korea (BOK) said Thursday it will extend a special loan program by six months to purchase corporate bonds, including low-rated debts, to help provide credit to pandemic-hit firms.
The BOK has approved a 10 trillion-won (US$9 billion) loan to the special purpose vehicle, which was set up by the state-run Korea Development Bank.
The special loan program had been set to expire on Jan. 13 next year, but the BOK's policy board approved an extension until July 13, 2021, the central bank said in a statement.
The special program will increase its ratio of purchasing low-rated corporate debts, the BOK said.
Outstanding debt of South Korean firms stood at 1,332 trillion won at the end of September, up 15.5 percent from a year ago.
Analysts have warned that some vulnerable firms may face a credit crunch if an economic recovery from the pandemic is delayed.
South Korea has taken a set of measures to minimize the economic fallout of the COVID-19 pandemic on the local financial system.
The steps include the BOK's "unlimited" purchase of local bonds in repo operations to boost market liquidity.
kdh@yna.co.kr
(END)


yna--2020-12-24--4 S. Koreans working at Camp Humphreys test positive for COVID-19

`` KDCA and USFK health professionals are actively conducting contact tracing to determine whether anyone else may have been exposed @ @ @ @ @ identify and ensure all known on-post and off-post facilities visited by these individuals are thoroughly @ @ @ @ @ in a release .
KDCA stands for the Korea Disease Control and Prevention Agency .

SEOUL, Dec. 24 (Yonhap) -- Four South Koreans working at a U.S. military base in Pyeongtaek, south of Seoul, have tested positive for the new coronavirus, U.S. Forces Korea (USFK) said Thursday.
Two of them last visited Camp Humphreys on Friday and tested positive Tuesday, while the two others were last on the installation Tuesday and were confirmed to have contracted COVID-19 the following day, according to the USFK.
Of the four, three were contractors working together. One of them first tested positive and was transferred to a local hospital, and the two others were confirmed to have contracted the virus in subsequent tests.
The other confirmed patient, a civilian employee, tested positive following a direct contact with an individual who had tested positive for the virus, USFK said.
Except for one of the contractors who has been transferred to the hospital, the other three are waiting to be transported to a medical facility designated for confirmed virus patients, the U.S. military said.
"KDCA and USFK health professionals are actively conducting contact tracing to determine whether anyone else may have been exposed to these individuals and to identify and ensure all known on-post and off-post facilities visited by these individuals are thoroughly cleaned," it said in a release. KDCA stands for the Korea Disease Control and Prevention Agency.
Amid a series of virus cases reported on the base, all non-mission critical work force personnel at Camp Humphreys were temporarily released from duty as of Wednesday afternoon, it said.
Seen in this file photo is a gate of the U.S. base Camp Humphreys in Pyeongtaek, south of Seoul. (Yonhap)
scaaet@yna.co.kr
(END)


yna--2020-12-24--Asian champions Ulsan to kick off FIFA Club World Cup in 2nd round

Ulsan won all five AFC Champions League matches at Education City Stadium during their title run .
The Asian tournament @ @ @ @ @ was halted in March due to the COVID-19 pandemic .
The remainder of the group @ @ @ @ @ resumed in November in a bubble set up in Qatar .
Ulsan won four group @ @ @ @ @ then also took the round of 16 match at the same stadium en route to @ @ @ @ @

By Yoo Jee-ho
SEOUL, Dec. 24 (Yonhap) -- The Asian champions Ulsan Hyundai FC will begin their journey toward a FIFA club title on Feb. 4 next year in Qatar, according to a FIFA timetable released Thursday.
The annual tournament features winners of regional club tournaments in Asia, Africa, Europe, North and Central America, and South America, and the host country's national champions take on the Oceania champions in an opening playoff match.
Ulsan, representing South Korea's K League, won the Asian Football Confederation (AFC) Champions League earlier this month in Qatar.
Members of Ulsan Hyundai FC celebrate winning the Asian Football Confederation Champions League title over Persepolis FC at Al Janoub Stadium in Al Wakrah, Qatar, on Dec. 19, 2020. (Yonhap)
The 17th edition will be hosted by Qatar. The tournament was postponed from December this year to February next year, as the coronavirus pandemic disrupted several regional club tournaments and champions wouldn't have been decided in time for the Club World Cup.
The Qatar Stars League champions Al Duhail will face Auckland City, representing Oceania, in the first round on Feb. 1, the international football governing body said, unveiling its 2020 Club World Cup match schedule.
The winning club will move on to the second round set for Feb. 4, with Ulsan, the African champions Al Ahly and Tigres UANL of Mexico, the winners of the Confederation of North, Central American and Caribbean Association Football (CONCACAF) Champions League, awaiting.
Bayern Munich, the UEFA Champions League winners as the European champs, and the yet-to-be-determined South American champions have byes to the semifinals, which will be played on Feb. 7 and 8. The third-place match and the final will be Feb. 11.
The draw for the tournament beyond the first round is scheduled for Jan. 19.
No K League club has lifted the FIFA Club World Cup trophy, and no team from South Korea has even competed in the final. Pohang Steelers came the closest by finishing in third place in 2009.
In this AFP file photo from Dec. 6, 2020, Bjorn Johnsen of Ulsan Hyundai FC (R) battles Storm Roux of Melbourne Victory for the ball during the teams' round of 16 match at the Asian Football Confederation Champions League at Education City Stadium in Al Rayyan, Qatar. (Yonhap)
Ulsan could be competing in familiar territory with some great recent history. The second-round matches will be played at Khalifa International Stadium in Doha and Education City Stadium in Al Rayyan, just west of the Qatari capital. Education City Stadium will also host the third-place contest and the final.
Ulsan won all five AFC Champions League matches at Education City Stadium during their title run. The Asian tournament kicked off in February but was halted in March due to the COVID-19 pandemic. The remainder of the group stage for East Asian teams resumed in November in a bubble set up in Qatar. Ulsan won four group matches at Education City and then also took the round of 16 match at the same stadium en route to their second AFC crown.
Along with Education City and Khalifa International, Ahmad Bin Ali Stadium will also host matches at the FIFA Club World Cup. Ahmad Bin Ali was inaugurated on Dec. 18, exactly two years before the opening kickoff of the 2022 FIFA World Cup in Qatar. All three venues will host World Cup matches in two years' time.
jeeho@yna.co.kr
(END)


yna--2020-12-24--SK Telecom teams up with AWS to launch 5G edge cloud service

The mobile carrier said it has worked with AWS since February this year , while also collaborating with 20 other @ @ @ @ @ , such as with food delivery giant Woowa Brothers Corp. for an autonomous food delivery @ @

SEOUL, Dec. 24 (Yonhap) -- SK Telecom Co., South Korea's top wireless provider, said Thursday it has partnered with Amazon Web Services Inc. (AWS) to launch the country's first 5G edge cloud service.
The business-targeted service, named SKT 5GX Edge, provides users ultra-low latency for data-intensive services by connecting to AWS Wavelength Zones installed in SK Telecom's telecommunications offices, making it unnecessary for traffic to go through regional aggregation sites, according to the carrier.
SK Telecom said it expects SKT 5GX Edge to improve services such as video streaming, games and machine learning.
The mobile carrier said it has worked with AWS since February this year, while also collaborating with 20 other companies to test the service, such as with food delivery giant Woowa Brothers Corp. for an autonomous food delivery robot.
The two companies have set up infrastructure for the service in the central city of Daejeon, 140 kilometers south of Seoul, and plan to expand into the country's capital and other areas next year.
yunhwanchae@yna.co.kr
(END)


yna--2020-12-24--(LEAD) New virus cases under 1,000, tougher distancing rules in place

From Wednesday , the greater Seoul area banned gatherings of five or more people .
Restaurants in the greater Seoul @ @ @ @ @ if they allow gatherings of more than four people .
The strongest-ever measures will be @ @ @ @ @ well .

(ATTN: ADDS details in 10th para, last 4 paras)
SEOUL, Dec. 24 (Yonhap) -- South Korea's daily new coronavirus cases fell below 1,000 on Thursday, as the most stringent social distancing rules so far were in place ahead of the Christmas and New Year's holidays to contain the winter wave of the virus.
The country added 985 more COVID-19 cases, including 955 local infections, raising the total caseload to 53,533, according to the Korea Disease Control and Prevention Agency (KDCA).
The tally marked a decline from 1,092 cases Wednesday, 869 cases Tuesday, 926 cases Monday, 1,097 cases Sunday, 1,053 Saturday and 1,062 last Friday.
Seventeen people died from COVID-19 in the past 24 hours, raising the death toll to 756.
A medical worker performs a COVID-19 test at a testing center in Gwangju on Dec. 23, 2020. (Yonhap)
Health authorities have been considering whether to raise the country's social distancing guidelines to Level 3, the highest in its five-tier scheme.
However, authorities said they are aiming to contain the current wave of the pandemic without raising virus curbs to Level 3 on concerns over the impact on the economy.
Instead of applying measures that would deal a severe blow to millions of small merchants, health authorities have deployed "targeted" virus curbs.
From Wednesday, the greater Seoul area banned gatherings of five or more people. Restaurants in the greater Seoul area will face a fine if they allow gatherings of more than four people. The strongest-ever measures will be applied nationwide starting Thursday as well.
Ski resorts and famous tourism venues were shut down to slow the spread of the virus during the Christmas and New Year's holiday season.
Prime Minister Chung Sye-kyun said South Korea has signed deals with Johnson & Johnson's Janssen and Pfizer to purchase COVID-19 vaccines for a total of 16 million people. Previously, the government said it had signed deals to secure vaccines for 44 million people.
South Korea has been applying Level 2.5 social distancing rules in the greater Seoul area, home to half of its 51.6 million population, and Level 2 rules in the rest of the country.
A bar in Hongdae, one of the busiest entertainment districts in Seoul, is nearly empty on Dec. 23, 2020, amid tightened restrictions on gatherings and events to prevent the spread of the new coronavirus. (Yonhap)
Of the newly identified local infections, 314 cases were reported in Seoul and 277 cases in Gyeonggi Province that surrounds the capital. Incheon, west of Seoul, reported 53 more cases.
Other municipalities reported new infections, with the country's largest port city of Busan adding 43 cases and the southern island of Jeju reporting 26 new cases.
The number of seriously or critically ill COVID-19 patients reached 291, compared with 284 from the previous day.
The total number of people released from quarantine after making full recoveries stood at 37,425, up 699 from the previous day.
The country, meanwhile, added 30 imported cases, increasing the total to 5,223.
Fourteen cases came from the United States, followed by five cases from Indonesia and three from Myanmar.
The country has carried out 3,882,210 coronavirus tests since Jan. 3, including 55,640 tests in the past 24 hours. The country reported its first case on Jan. 20.
kdh@yna.co.kr
(END)


yna--2020-12-24--N. Korea's newspaper calls for powerful defense capabilities

The Rodong Sinmun , the official newspaper of the North 's ruling party , touted the late leader 's military-first @ @ @ @ @ `` songun '' policy , saying its military grew into an invincible force not only @ @ @ @ @ technologically .

SEOUL, Dec. 24 (Yonhap) -- North Korea's main newspaper on Thursday stressed the importance of strengthening national defense on the 29th anniversary of a late former leader's inauguration as the supreme commander of the army.
Kim Jong-il, the father of current leader Kim Jong-un, was appointed as the supreme commander of the North's Korean People's Army in 1991, three years before he took power of the country.
The Rodong Sinmun, the official newspaper of the North's ruling party, touted the late leader's military-first policy, known as the "songun" policy, saying its military grew into an invincible force not only politically but also strategically and technologically.
"Comrade Kim Jong-il made a remarkable achievement in building our revolutionary forces, strengthening our national defense and developing the people's army into an invincible force," the paper said in an editorial.
"A country cannot become powerful without a powerful army. History teaches us the truth that even a powerful country can collapse with a weak army while even a small country can enjoy the dignity of a powerful country with a powerful army," it added.
The paper stressed that the North has developed a "modern and independent defense industry that can easily create any military equipment if we put our will to it" thanks to the late leader.
It also touted current leader Kim Jong-un's accomplishments, saying the new weapons unveiled at a recent military parade are a result of his "dedication and sacrifice."
On Oct. 10, Pyongyang unveiled a new intercontinental ballistic missile (ICBM) and a submarine-launched ballistic missile (SLBM) during a military parade to mark the 75th founding anniversary of the ruling Workers' Party.
Shown in this image captured from Korean Central Television footage on Oct. 10, 2020, is North Korea's new intercontinental ballistic missile (ICBM), which was displayed during a military parade held in Pyongyang to mark the 75th founding anniversary of the ruling Workers' Party. (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)
julesyi@yna.co.kr
(END)


yna--2020-12-24--New labor group leader threatens general strike in 2021

The KCTU has been at odds with the government and the ruling Democratic Party ( DP ) over the revision @ @ @ @ @ it claims include agendas unfavorable to workers , such as an extension of collective agreements @ @ @ @ @ group has also demanded the enactment of a bill that would hold companies accountable for @ @ @ @

SEOUL, Dec. 24 (Yonhap) -- The Korean Confederation of Trade Unions (KCTU), the more militant of the nation's two largest labor umbrella organizations, elected a hard-line figure as its new leader on Thursday, heralding an escalation in its conflict with the government over key labor reform policies.
The KCTU, the nation's largest labor group with more than 1 million members, said Yang Kyeong-su, head of the KCTU chapter in Gyeonggi Province, was elected as its new leader in a contested vote and will begin his three-year term next month.
The 44-year-old Yang was a chapter leader for the subcontractors of Kia Motors Corp.'s plant in Hwaseong, some 60 kilometers south of Seoul. He will be the first KCTU chairman to have worked as a non-regular worker.
Backed by the leading faction of the group, Yang said during the campaign that he would start preparing for a nationwide general strike in November next year when he wins the election.
The KCTU has been at odds with the government and the ruling Democratic Party (DP) over the revision of labor bills, which it claims include agendas unfavorable to workers, such as an extension of collective agreements' valid periods. The group has also demanded the enactment of a bill that would hold companies accountable for grave industrial disasters.
In his election victory speech, Yang said the country will first see its top labor union organize a massive strike, which will be "written down in a page of history."
This file photo, taken on Dec. 10, 2020, shows Yang Kyeong-su, the chairman-elect of the Korean Confederation of Trade Unions, speaking during an election debate. (Yonhap)
nyway@yna.co.kr
(END)


yna--2020-12-24--(LEAD) S. Korea signs deals to purchase vaccines from Janssen, Pfizer: PM

Chung said , `` The government will pay thorough attention to make sure that the public could be vaccinated as @ @ @ @ @ any anxiety , while carefully studying the safety and effectiveness of the vaccines administered ( @ @ @ @

(ATTN: UPDATES with more remarks, details from 3rd para)
SEOUL, Dec. 24 (Yonhap) -- South Korea has signed deals with two global drugmakers, Janssen and Pfizer, to purchase COVID-19 vaccines, with a plan to start vaccinations in the second quarter of 2021, Prime Minister Chung Sye-kyun said Thursday.
Under the contracts, it will bring in 6 million doses from Janssen and 10 million from Pfizer, Chung said during an interagency meeting on the COVID-19 pandemic response.
Initially, South Korea had planned to introduce 2 million doses of Janssen's vaccine. The government is scheduled to start offering shots of the vaccine in the second quarter of next year, he added.
The purchased doses of Pfizer's vaccine are scheduled to start arriving in South Korea in the third quarter of 2021, but the government is mobilizing all its resources to advance the shipment to the second quarter, Chung stressed.
The announcement came amid growing criticism here over the Moon Jae-in administration's vaccine procurement program. Critics argued that South Korea is lagging behind other nations in securing the supply of vaccines due to Moon's "miscalculation" of the situation.
Chung said, "The government will pay thorough attention to make sure that the public could be vaccinated as soon as possible, without any anxiety, while carefully studying the safety and effectiveness of the vaccines administered (overseas)."
Prime Minister Chung Sye-kyun speaks during an interagency meeting on the COVID-19 pandemic response at the government office complex in Seoul on Dec. 24, 2020. (Yonhap)
pbr@yna.co.kr
(END)


yna--2020-12-24--S. Korean football chief Chung Mong-gyu to run unopposed in bid for 3rd term

According to the Korean Sport & Olympic Committee ( KSOC ) , heads of its member federations may serve no @ @ @ @ @ , but exceptions are granted if their contributions to their sport can be clearly established @

By Yoo Jee-ho
SEOUL, Dec. 24 (Yonhap) -- Chung Mong-gyu is on course for a third term as the head of the Korea Football Association (KFA), with no other candidate fielded in next month's election, the organization said Thursday.
Chung, its president since 2013, is the only candidate who has thrown a hat in the election scheduled for Jan. 6, 2021, according to the KFA. The deadline to register as candidates was 6 p.m. Wednesday.
In this file photo from May 13, 2020, Korea Football Association President Chung Mong-gyu speaks at the inauguration ceremony for the new K3 and K4 leagues in Seoul. (Yonhap)
Chung's sole candidacy will not be put to a vote and will instead be reviewed by an election committee, made up of five outside officials and two KFA officials.
Chung, chief executive of the construction firm Hyundai Development Co., served his first KFA term from January 2013 to June 2016. He ran unopposed in the next election in July 2016 and received unanimous support from the 98 voters on hand.
According to the Korean Sport & Olympic Committee (KSOC), heads of its member federations may serve no more than two consecutive terms, but exceptions are granted if their contributions to their sport can be clearly established.
Chung received the green light from the KSOC on Nov. 28.
Chung has delivered on most of his pledges made before the second election, including building a multidivision system in the pro ranks and constructing a second national training center in addition to the current facility in Paju, north of Seoul.
During Chung's second term, South Korea captured the 2018 Asian Games gold medal and finished runners-up at the 2019 FIFA U-20 World Cup, the country's best performance at a FIFA men's tournament in any age group. In January this year, the country won the Asian Football Confederation U-23 Championship, which doubled as the Asian Olympic qualifying tournament.
In July 2018, Chung donated 4 billion won (US$3.6 million) to help pay salaries for national team coaches and develop youth football.
In this file photo from Jan. 28, 2020, Korea Football Association President Chung Mong-gyu (L) congratulates Kim Hak-bum, head coach of the men's under-23 national team, at Incheon International Airport, west of Seoul, after the team won the Asian Football Confederation U-23 Championship in Thailand. (Yonhap)
jeeho@yna.co.kr
(END)


yna--2020-12-24--(2nd LD) Court grants injunction against suspension of top prosecutor

He also argued the measure to bar him from performing his duty seriously undermined the values of political impartiality and @ @ @ @ @ Also major investigations , including a probe into the controversial closure of the Wolsong-1 nuclear @ @ @ @ @ a serious setback , he added .

(ATTN: ADDS reactions from top prosecutor, more details in paras 4-5, last 3 paras)
SEOUL, Dec. 24 (Yonhap) -- Prosecutor General Yoon Seok-youl was reinstated Thursday after a court granted an injunction against his suspension by the justice minister amid feuds over prosecution reforms and politically sensitive probes.
The decision by the Seoul Administrative Court amounts to a setback for Justice Minister Choo Mi-ae, who has been at odds with Yoon for months.
On Dec. 16, the ministry suspended Yoon from duty for two months due to four counts of alleged misconduct, including the surveillance of judges hearing cases involving former Justice Minister Cho Kuk and some presidential officials. President Moon Jae-in immediately endorsed the order.
"I will do my best to defend the spirit of the Constitution, the rule of law and common sense," Yoon said, expressing his thanks for the court's decision.
He is likely to start work Saturday, prosecution officials said.
Prosecutor General Yoon Seok-youl (Yonhap)
Yoon filed an injunction on Dec. 17, along with a separate administrative lawsuit against the decision, claiming that the disciplinary session had procedural errors and the allegations against him were not true.
He also argued the measure to bar him from performing his duty seriously undermined the values of political impartiality and independence at the prosecution. Also major investigations, including a probe into the controversial closure of the Wolsong-1 nuclear reactor, could be dealt a serious setback, he added.
Refuting Yoon's claims, the justice ministry argued the measure observed procedural due process and was taken in accordance with the president's rights and responsibility under the Constitution.
Earlier in the day, the court convened a second round of hearing to review Yoon's injunction request. The first hearing took place Tuesday.
Among the issues discussed at the hearing included whether the suspension caused "irreparable damage," how it affected public interest and whether there have been procedural flaws in the process leading up to the disciplinary decision.
His two-year term was scheduled to finish in July next year.
On Dec. 1, the same court granted a preliminary injunction to halt his temporary removal imposed by Justice Minister Choo over allegations of a series of misconduct. The ministry, undeterred, proceeded with its disciplinary panel discussions twice to eventually discipline him.
Political parties showed mixed reactions to Thursday's ruling.
The ruling Democratic Party expressed regret, saying the decision failed to reflect the seriousness of his alleged misdeeds and would deepen political division among the public.
The main opposition People Power Party welcomed the order, saying it fended off the government's attempt to tame the prosecution in the name of reforms.
jaeyeon.woo@yna.co.kr
(END)


yna--2020-12-24--(4th LD) New virus cases under 1,000, tougher distancing rules in place

South Korea had managed to bring two waves of virus infections under control since the pandemic began , but health @ @ @ @ @ the current wave because clusters continue to emerge in the densely populated capital area .
@ @ @ @ @ clusters showed signs of growing across the nation .

(ATTN: ADDS new tally in 5th para)
SEOUL, Dec. 24 (Yonhap) -- South Korea's daily new coronavirus cases fell below 1,000 on Thursday, as the most stringent social distancing rules so far were in place ahead of the Christmas and New Year's holidays to contain the winter wave of the virus.
The country added 985 more COVID-19 cases, including 955 local infections, raising the total caseload to 53,533, according to the Korea Disease Control and Prevention Agency (KDCA).
The tally marked a decline from 1,092 cases Wednesday, 869 cases Tuesday, 926 cases Monday, 1,097 cases Sunday, 1,053 Saturday and 1,062 last Friday.
Seventeen people died from COVID-19 in the past 24 hours, raising the death toll to 756.
A medical worker administers a COVID-19 test at a testing center in Seoul on Dec. 24, 2020. (Yonhap)
Later in the day, health authorities and local governments said 867 new cases were confirmed from 12 a.m. to 9 p.m. Thursday, 44 fewer than at the same time on Wednesday. The greater Seoul area accounted for 66.7 percent with 578 cases.
Health authorities have been considering whether to raise the country's social distancing guidelines to Level 3, the highest in its five-tier scheme.
However, authorities said they are aiming to contain the current wave of the pandemic without raising virus curbs to Level 3 on concerns over the impact on the economy.
Instead of applying measures that would deal a severe blow to millions of small merchants, health authorities have deployed "targeted" virus curbs.
From Wednesday, the greater Seoul area banned gatherings of five or more people. Restaurants in the greater Seoul area will face a fine if they allow gatherings of more than four people. The strongest-ever measures will be applied nationwide starting Thursday as well.
Ski resorts and famous tourism venues were shut down to slow the spread of the virus during the Christmas and New Year's holiday season.
Prime Minister Chung Sye-kyun said South Korea has signed deals with Johnson & Johnson's Janssen and Pfizer to purchase COVID-19 vaccines for a total of 16 million people. Previously, the government said it had signed deals to secure vaccines for 44 million people.
South Korea has been applying Level 2.5 social distancing rules in the greater Seoul area, home to half of its 51.6 million population, and Level 2 rules in the rest of the country.
A medical worker clad in a Santa Claus suit makes preparations before administering virus tests in a bid to cheer up people who arrive at a testing center in Gwangju on Dec. 24, 2020. (Yonhap)
Of the 955 newly identified local infections announced early Thursday, 314 cases were reported in Seoul and 277 cases in Gyeonggi Province that surrounds the capital. Incheon, west of Seoul, reported 53 more cases.
Other municipalities reported new infections, with the country's largest port city of Busan adding 43 cases and the southern island of Jeju reporting 26 new cases.
South Korea had managed to bring two waves of virus infections under control since the pandemic began, but health authorities are struggling to contain the current wave because clusters continue to emerge in the densely populated capital area. At the same time, clusters showed signs of growing across the nation.
A nursing hospital in Seoul's Guro Ward reported 9 additional patients, raising the caseload to 116, while a religious facility in Daegu identified 13 more cases, with the total reaching 50.
Other major cluster infections included a nursing home in Cheongju, which added 11 more patients, raising the total to 90. A religious facility on the southern island of Jeju has reported 138 patients.
Sokcho Beach in Gangwon Province is shut down on Dec. 24, 2020, in compliance with the government's toughened guidelines in the fight against COVID-19 to prevent people from gathering at beaches across the nation, especially to see the sunrise on New Year's Day. (Yonhap)
The number of seriously or critically ill COVID-19 patients reached 291, compared with 284 from the previous day.
The total number of people released from quarantine after making full recoveries stood at 37,425, up 699 from the previous day.
The country, meanwhile, added 30 imported cases, increasing the total to 5,223.
Fourteen cases came from the United States, followed by five cases from Indonesia and three from Myanmar.
The country has carried out 3,882,210 coronavirus tests since Jan. 3, including 55,640 tests in the past 24 hours. The country reported its first case on Jan. 20.
kdh@yna.co.kr
(END)


yna--2020-12-24--(LEAD) Court grants injunction against suspension of top prosecutor

(ATTN: RECASTS headline, first 4 paras; UPDATES with more info throughout)
SEOUL, Dec. 24 (Yonhap) -- Prosecutor General Yoon Seok-youl was reinstated Thursday after a court granted an injunction against his suspension by the justice minister amid feuds over prosecution reforms and politically sensitive probes.
The decision by the Seoul Administrative Court amounts to a setback for Justice Minister Choo Mi-ae, who has been at odds for months with Yoon for months.
On Dec. 16, the ministry suspended Yoon from duty for two months due to four counts of alleged misconduct, including the surveillance of judges hearing cases on former Justice Minister Cho Kuk and presidential officials' alleged involvement in the Ulsan mayoral election in 2018 to bring victory to one of President Moon Jae-in's longtime friends.
Prosecutor General Yoon Seok-youl (Yonhap)
Yoon filed an injunction on Dec. 17, along with a separate administrative lawsuit against the decision, claiming that the disciplinary session had procedural errors and the allegations against him were not true.
He also argued the measure to bar him from performing his duty seriously undermined the values of political impartiality and independence at the prosecution. Also major investigations, including a probe into the controversial closure of the Wolsong-1 nuclear reactor, could be dealt a serious setback, he added.
Refuting Yoon's claims, the justice ministry argued the measure, endorsed by the president, observed procedural due process and was taken in accordance with the president's rights and responsibility under the Constitution.
Earlier in the day, the court convened a second round of hearing to review Yoon's injunction request. The first hearing took place Tuesday.
Among the issues discussed at the hearing included whether the suspension caused "irreparable damage," how it affected public interest and whether there have been procedural flaws in the process leading up to the disciplinary decision.
His two-year term was scheduled to finish in July next year.
On Dec. 1, the same court granted a preliminary injunction to halt his temporary removal imposed by Justice Minister Choo Mi-ae over allegations of a series of misconduct. The ministry, undeterred, proceeded with its disciplinary panel discussions twice to eventually discipline him.
jaeyeon.woo@yna.co.kr
(END)


yna--2020-12-24--(URGENT) Court grants injunction against suspension of top prosecutor

(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--2020-12-24--(3rd LD) New virus cases under 1,000, tougher distancing rules in place

(ATTN: ADDS new tally in 5th para)
SEOUL, Dec. 24 (Yonhap) -- South Korea's daily new coronavirus cases fell below 1,000 on Thursday, as the most stringent social distancing rules so far were in place ahead of the Christmas and New Year's holidays to contain the winter wave of the virus.
The country added 985 more COVID-19 cases, including 955 local infections, raising the total caseload to 53,533, according to the Korea Disease Control and Prevention Agency (KDCA).
The tally marked a decline from 1,092 cases Wednesday, 869 cases Tuesday, 926 cases Monday, 1,097 cases Sunday, 1,053 Saturday and 1,062 last Friday.
Seventeen people died from COVID-19 in the past 24 hours, raising the death toll to 756.
A medical worker administers a COVID-19 test at a testing center in Seoul on Dec. 24, 2020. (Yonhap)
Later in the day, health authorities and local governments said 668 new cases were confirmed from 12 a.m. to 6 p.m. Thursday, 27 fewer than at the same time on Wednesday. The greater Seoul area accounted for 67.5 percent with 451 cases.
Health authorities have been considering whether to raise the country's social distancing guidelines to Level 3, the highest in its five-tier scheme.
However, authorities said they are aiming to contain the current wave of the pandemic without raising virus curbs to Level 3 on concerns over the impact on the economy.
Instead of applying measures that would deal a severe blow to millions of small merchants, health authorities have deployed "targeted" virus curbs.
From Wednesday, the greater Seoul area banned gatherings of five or more people. Restaurants in the greater Seoul area will face a fine if they allow gatherings of more than four people. The strongest-ever measures will be applied nationwide starting Thursday as well.
Ski resorts and famous tourism venues were shut down to slow the spread of the virus during the Christmas and New Year's holiday season.
Prime Minister Chung Sye-kyun said South Korea has signed deals with Johnson & Johnson's Janssen and Pfizer to purchase COVID-19 vaccines for a total of 16 million people. Previously, the government said it had signed deals to secure vaccines for 44 million people.
South Korea has been applying Level 2.5 social distancing rules in the greater Seoul area, home to half of its 51.6 million population, and Level 2 rules in the rest of the country.
A medical worker clad in a Santa Claus suit makes preparations before administering virus tests in a bid to cheer up people who arrive at a testing center in Gwangju on Dec. 24, 2020. (Yonhap)
Of the 955 newly identified local infections announced early Thursday, 314 cases were reported in Seoul and 277 cases in Gyeonggi Province that surrounds the capital. Incheon, west of Seoul, reported 53 more cases.
Other municipalities reported new infections, with the country's largest port city of Busan adding 43 cases and the southern island of Jeju reporting 26 new cases.
South Korea had managed to bring two waves of virus infections under control since the pandemic began, but health authorities are struggling to contain the current wave because clusters continue to emerge in the densely populated capital area. At the same time, clusters showed signs of growing across the nation.
A nursing hospital in Seoul's Guro Ward reported 9 additional patients, raising the caseload to 116, while a religious facility in Daegu identified 13 more cases, with the total reaching 50.
Other major cluster infections included a nursing home in Cheongju, which added 11 more patients, raising the total to 90. A religious facility on the southern island of Jeju has reported 138 patients.
Sokcho Beach in Gangwon Province is shut down on Dec. 24, 2020, in compliance with the government's toughened guidelines in the fight against COVID-19 to prevent people from gathering at beaches across the nation, especially to see the sunrise on New Year's Day. (Yonhap)
The number of seriously or critically ill COVID-19 patients reached 291, compared with 284 from the previous day.
The total number of people released from quarantine after making full recoveries stood at 37,425, up 699 from the previous day.
The country, meanwhile, added 30 imported cases, increasing the total to 5,223.
Fourteen cases came from the United States, followed by five cases from Indonesia and three from Myanmar.
The country has carried out 3,882,210 coronavirus tests since Jan. 3, including 55,640 tests in the past 24 hours. The country reported its first case on Jan. 20.
kdh@yna.co.kr
(END)


yna--2020-12-24--First shipment of Moderna vaccine for USFK to arrive Friday: sources

USFK commander Gen. Robert Abrams said Wednesday that his command will begin to receive and administer the Moderna COVID-19 vaccine @ @ @ @ @ days , '' and the initial inoculations will go to frontline health care workers and @ @ @

SEOUL, Dec. 24 (Yonhap) -- U.S. Forces Korea (USKF) is expected to receive the first shipment of Moderna's coronavirus vaccine Friday, sources said.
The COVID-19 vaccine, which has been approved for emergency use, is likely to arrive at Incheon International Airport, west of Seoul, at around 10 a.m., according to the sources.
The number of doses to be shipped was not immediately known.
USFK commander Gen. Robert Abrams said Wednesday that his command will begin to receive and administer the Moderna COVID-19 vaccine "over the next few days," and the initial inoculations will go to frontline health care workers and first responders.
The U.S. Department of Defense said earlier that Allgood Army Community Hospital inside Camp Humphreys in South Korea will be one of four sites outside the continental U.S. that will receive the initial vaccination.
This EPA photo shows a health care worker preparing doses of the Moderna COVID-19 vaccine in San Juan, Puerto Rico, on Dec. 23, 2020. (Yonhap)
graceoh@yna.co.kr
(END)


yna--2020-12-24--S. Korea to sell 12.8 tln won worth of Treasurys in Jan.

Without elaborating , the ministry said it plans to sell a larger amount of government bonds in the first half @ @ @ @ @ second half in a bid to support its fiscal spending plan .

SEOUL, Dec. 24 (Yonhap) -- South Korea plans to sell 12.8 trillion won (US$11.6 billion) in state bonds next month, the finance ministry said Thursday.
The ministry will issue 3.25 trillion won in Treasurys with a maturity of three years and another 2.5 trillion won in five-year government bonds in January, according to the Ministry of Economy and Finance.
It also plans to sell 2.9 trillion won in bonds with a maturity of 10 years, and 1 trillion won in 20-year Treasurys, while floating 3.15 trillion won in bonds with a maturity of 30 years.
South Korea issued 5.8 trillion won in state bonds in December.
The country plans to sell state bonds totaling 176.4 trillion won next year as it seeks to increase fiscal spending to cope with the fallout of the new coronavirus outbreak.
Without elaborating, the ministry said it plans to sell a larger amount of government bonds in the first half of 2021 than in the second half in a bid to support its fiscal spending plan.
sooyeon@yna.co.kr
(END)


yna--2020-12-24--Culture group questions feasibility of new law on military service delay

`` In order to get a recommendation for the Order of Cultural Merit , one has to have performed in @ @ @ @ @ 15 years , '' KMCA said .
`` But most K-pop artists start their careers @ @ @ @ @ teens and would be over the age of 30 when they finally fulfill that 15-year @ @ @

SEOUL, Dec. 24 (Yonhap) -- A culture group on Thursday criticized the recently revised law allowing celebrities to delay their mandatory military service, raising questions on its feasibility.
Earlier this month, the National Assembly passed the revised Military Service Act to allow pop culture artists who have received cultural medals or awards from the government to delay their military service up until they are 30 years old, if there is a recommendation from the culture minister.
The revised law is set to take effect in June next year. All able-bodied South Korean men between the ages of 18 and 28 must serve in the armed forces for about two years, a legacy of the 1950-53 Korean War that ended with an armistice rather than a peace treaty.
But it is almost impossible for any pop culture celebrity to benefit from the revised law, the Korea Music Content Association (KMCA) said.
"In order to get a recommendation for the Order of Cultural Merit, one has to have performed in the field for at least 15 years," KMCA said. "But most K-pop artists start their careers in their mid- to late teens and would be over the age of 30 when they finally fulfill that 15-year requirement."
National Assembly Speaker Park Byeong-seug announces the passage of a revised Military Act at the parliamentary complex in southern Seoul on Dec. 1, 2020. (Yonhap)
According to KMCA, the average age of singers who have received state medals or awards so far is 67.7.
In the past 10 years, the members of K-pop superstar BTS were the only musicians to meet the requirements for the benefit within the conscription limit.
This was possible because the K-pop act received the state Hwagwan Order of Cultural Merit in 2018, only five years after its debut, on a special occasion for its contribution to increasing the popularity of Korean culture, KMCA said.
PSY, another popular K-pop act who gained worldwide popularity with his 2012 megahit song "Gangnam Style," received the culture order when he was 35 years old, a relatively young age to acquire a state medal.
"(The association) is grateful that a goodwill policy was made to acknowledge K-pop's achievement in building a national reputation," said Choi Kwang-ho, KMCA's secretary general. "But we want to ask what meaning it has if nobody is eligible for the benefits."
If the government is seeking the prosperity of the K-pop industry beyond resolving BTS's military issue through the revision, the ordinances will run counter to the intended purpose, Choi added, calling for a reexamination of the law.
This photo, provided by Big Hit Entertainment, shows a concept photo for BTS' latest album "BE." (PHOTO NOT FOR SALE) (Yonhap)
nyway@yna.co.kr
(END)


Yonhap News Summary

The amendment to the Development of Inter-Korean Relations Act , which passed the National Assembly and the Cabinet earlier this @ @ @ @ @ among critics , including some U.S. lawmakers , that it could hurt freedom of expression @ @ @ @ @ outside information into the reclusive North .

The following is the second summary of major stories moved by Yonhap News Agency on Thursday.
-----------------
Unification ministry drafting guidelines on leafleting ban to clarify 'scope of application': official
SEOUL -- The unification ministry is drafting guidelines on a recently legislated ban on sending anti-Pyongyang leaflets into North Korea to provide a clear interpretation of the law before it goes into effect, an official said Thursday.
The amendment to the Development of Inter-Korean Relations Act, which passed the National Assembly and the Cabinet earlier this month, has raised concerns among critics, including some U.S. lawmakers, that it could hurt freedom of expression and undercut efforts to send outside information into the reclusive North.
-----------------
(LEAD) S. Korean stocks break 2,800 ceiling to fresh high on vaccine deals
SEOUL -- South Korean stocks broke the 2,800 mark for the first time Thursday to close at an all-time high, as the country's additional deals to purchase COVID-19 vaccines boosted hopes for a faster-than-expected economic recovery. The Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 47.04 points, or 1.7 percent, to close at 2,806.86.
-----------------
S. Korea aims to reduce plastic waste 20 pct by 2025
SEOUL -- South Korea aims to reduce its plastic waste by 20 percent by 2025 by scaling down the output of plastic products and increasing the recycling rate, the Ministry of Environment said Thursday.
Under the ambitious environmental policy goal approved in an interagency policy coordination meeting, the nation also aims to raise its plastic recycling rate from the current 54 percent to 70 percent by 2025, the ministry said.
-----------------
Sunset, sunrise events banned at national parks to stem COVID-19
SEOUL -- All sunset and sunrise events will be banned at national parks across the country until early next month, the Ministry of Environment said Thursday, in accordance with the government's special anti-COVID-19 measures.
The ban will be in effect from Thursday to Jan. 3, the ministry said, noting violators will be fined over 100,000 won (US$90).
-----------------
S. Korea reports 3 more suspected cases of highly pathogenic bird flu
SEOUL -- South Korea on Thursday reported three more suspected cases of highly pathogenic avian influenza cases from two local farms.
Authorities have identified a suspected H5 strain of avian influenza from a farm in Namwon, North Jeolla Province, and two other farms in the adjacent city of Gurye, according to the Ministry of Agriculture, Food and Rural Affairs.
-----------------
(END)


yna--2020-12-24--S. Korea's transport agency launches probe into Tesla Model X accident

Fire fighters could n't immediately open the SUV 's door to rescue the car owner as its electronic door lock @ @ @ @ @ fire .
The firefighters later took the owner out of the car through the trunk @ @ @ @ @ hospital , where he died .

SEOUL, Dec. 24 (Yonhap) -- South Korea's transport safety agency has launched a preliminary investigation into causes of a deadly accident involving a Tesla electric vehicle, officials said Thursday.
A Tesla Model X caught fire after ramming into a parking lot wall at a Seoul apartment on Dec. 9, killing the car owner who was in the passenger seat, and injuring the designated driver and an employee of an apartment.
The designated driver told police that the car went out of control due to "unintended acceleration."
Tesla Model X electric vehicle catches fire at a Seoul apartment parking lot on Dec. 10, 2020, killing one and injuring two, in this photo provided by Yongsan Fire Station. (PHOTO NOT FOR SALE) (Yonhap)
Last week, the Korea Automobile Testing & Research Institute requested Tesla to submit documents related to the accident to figure out the cause of the accident, said an official of the Ministry of Land, Transport and Infrastructure.
The institute, which is overseen by the ministry, will look into whether the accident was caused by sudden unintended acceleration or battery problems, and will examine its door lock system, the official said.
Fire fighters couldn't immediately open the SUV's door to rescue the car owner as its electronic door lock system was inoperable due to fire. The firefighters later took the owner out of the car through the trunk and rushed him to a hospital, where he died.
If problems are discovered in a preliminary process, investigators can launch probes into the accident and the ministry can make decisions about a recall to fix faulty parts, officials said.
Tesla was not immediately available for comment.
ejkim@yna.co.kr
(END)


yna--2020-12-24--(LEAD) S. Korean stocks break 2,800 ceiling to fresh high on vaccine deals

SEOUL , Dec. 24 ( Yonhap ) -- South Korean stocks broke the 2,800 mark for the first time Thursday @ @ @ @ @ high , as the country 's additional deals to purchase COVID-19 vaccines boosted hopes for @ @ @ @ @ The Korean won rose against the U.S. dollar .

SEOUL, Dec. 24 (Yonhap) -- South Korean stocks broke the 2,800 mark for the first time Thursday to close at an all-time high, as the country's additional deals to purchase COVID-19 vaccines boosted hopes for a faster-than-expected economic recovery. The Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 47.04 points, or 1.7 percent, to close at 2,806.86.
Trading volume was moderate at about 1 billion shares worth some 20 trillion won (US$18.1 billion), with gainers outnumbering losers 593 to 246.
Foreigners bought a net 111 billion won, while retail investors sold a net 750 billion won. Institutions purchased a net 631 billion won.
Electronic signboards at a Hana Bank dealing room in Seoul show the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,806.86 on Dec. 24, 2020, up 47.04 points or 1.7 percent from the previous session's close. (Yonhap)
The key index started off firm after Prime Minister Chung Sye-kyun said the country signed deals to buy COVID-19 vaccines from U.S. pharmaceutical giant Pfizer and Johnson & Johnson's Janssen.
South Korea struck a deal for AstraZeneca's COVID-19 vaccine last month.
The government plans to sign a deal for Moderna's vaccine next month and start its vaccination program in the second quarter of next year.
The country has experienced a surge in new COVID-19 cases in recent weeks, prompting the government to roll out stronger antivirus measures, such as banning private gatherings of five or more people.
Large caps lifted on strong foreign and institutional buying in particular.
"Foreign and institutional buying increased in the top caps, such as LG Chem, Samsung Electronics and SK hynix, leading the KOSPI's gain," said Kiwoom Securities analyst Seo Sang-young.
"The buying seems largely affected by expectations of the dividend day next week," he added.
Market bellwether Samsung Electronics spiked 5.28 percent to 77,800 won, and No. 2 chipmaker SK hynix gained 1.72 percent to 118,000 won.
Leading chemical maker LG Chem rose 1.49 percent to 818,000 won, and rechargeable battery maker Samsung SDI hiked 1.62 percent to 563,000 won.
Top pharmaceutical firm Samsung Biologics slipped 0.25 percent to 794,000 won, and Celltrion shed 2.11 percent to 347,500 won.
Internet portal giant Naver retreated 0.7 percent to 282,000 won, with its rival Kakao losing 0.93 percent to 374,000 won.
Hyundai Motor, the country's largest automaker, moved up 1.08 percent to 187,000 won, and top steelmaker POSCO advanced 1.31 percent to 271,000 won.
The local currency closed at 1,103.0 won per dollar, up 4.9 won from the previous session's close.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 1.8 basis points to 0.950 percent, and the return on the benchmark five-year government bond added 3.5 basis points to 1.314 percent.
jwc@yna.co.kr
(END)


yna--2020-12-24--S. Korean Bond Yields on Dec. 24, 2020

S. Korean Bond Yields on Dec. 24, 2020