ID :
21575
Sat, 09/27/2008 - 17:53
Auther :
Shortlink :
http://m.oananews.org//node/21575
The shortlink copeid
The following is the second summary of major stories moved by Yonhap News Agency on Friday.
The following is the second summary of major stories moved by Yonhap News Agency on Friday.
-----------------
U.S. urged to take time out from nuclear talks
SEOUL -- The United States should pursue a strategic pause in its troubled
efforts to produce a workable verification system for North Korea's recent
declaration of its atomic weapons program, a former State Department official
said Friday.
Robert Einhorn, former deputy assistant secretary for nonproliferation in the
State Department, said that prospects are not good for overcoming the current
impasse by the end of this year.
-----------------
(LEAD) Seoul shares tumble on uncertainty over U.S. bailout plan
SEOUL -- South Korean stocks tumbled Friday as investors dumped tech, finance and
other large-cap shares on renewed concerns that a much-awaited U.S. bailout plan
for its ailing financial system could be delayed due to prolonged political
wrangling, analysts said. The local currency fell to a 49-month low against the
U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 25.3 points, or 1.68
percent, to 1,476.33. Volume was heavy at 495.69 million shares worth 4.27
trillion won (US$3.68 billion), with losers outpacing gainers 537 to 258.
-----------------
S. Korean currency hits 49-month low against dollar
SEOUL -- The South Korean currency fell to a 49-month low against the U.S. dollar
on Friday as falling stock prices and uncertainty over the passage of a U.S.
bailout plan fueled dollar demand, dealers said.
The local currency closed at 1,160.50 won to the dollar, down 2.3 won from
Thursday's close and the lowest level since Aug. 13, 2004 when it finished at
1,162.3O won against the greenback. The won has lost more than 19 percent versus
the dollar so far this year, putting upward pressure on already-high inflation.
-----------------
(LEAD) S. Korea finds harmful chemical in Chinese creamer product
SEOUL -- South Korea's health authorities said Friday they have found traces of a
harmful chemical in a Chinese creamer product used in instant coffee mixes.
The discovery of melamine, which can cause kidney problems and even death in
severe cases, follows a confirmation by the Korea Food and Drug Administration
(KFDA) on Thursday that two types of snacks sold domestically contained traces of
the industrial chemical. Both products were imported from China.
-----------------
Lee stresses military buildup to deter war
SEOUL -- President Lee Myung-bak said Friday that his government is determined to
steadily build the nation's military might to deter any war on the Korean
Peninsula.
"The genuine purpose of our military buildup is not to start and win a war, but
to deter a war. A strong armed force (in South Korea) will surely deter a war.
But if we're weak, a war will be inevitable," Lee said while attending this
year's Korea-U.S. joint firepower demonstration staged on the outskirts of Seoul.
(END)
-----------------
U.S. urged to take time out from nuclear talks
SEOUL -- The United States should pursue a strategic pause in its troubled
efforts to produce a workable verification system for North Korea's recent
declaration of its atomic weapons program, a former State Department official
said Friday.
Robert Einhorn, former deputy assistant secretary for nonproliferation in the
State Department, said that prospects are not good for overcoming the current
impasse by the end of this year.
-----------------
(LEAD) Seoul shares tumble on uncertainty over U.S. bailout plan
SEOUL -- South Korean stocks tumbled Friday as investors dumped tech, finance and
other large-cap shares on renewed concerns that a much-awaited U.S. bailout plan
for its ailing financial system could be delayed due to prolonged political
wrangling, analysts said. The local currency fell to a 49-month low against the
U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 25.3 points, or 1.68
percent, to 1,476.33. Volume was heavy at 495.69 million shares worth 4.27
trillion won (US$3.68 billion), with losers outpacing gainers 537 to 258.
-----------------
S. Korean currency hits 49-month low against dollar
SEOUL -- The South Korean currency fell to a 49-month low against the U.S. dollar
on Friday as falling stock prices and uncertainty over the passage of a U.S.
bailout plan fueled dollar demand, dealers said.
The local currency closed at 1,160.50 won to the dollar, down 2.3 won from
Thursday's close and the lowest level since Aug. 13, 2004 when it finished at
1,162.3O won against the greenback. The won has lost more than 19 percent versus
the dollar so far this year, putting upward pressure on already-high inflation.
-----------------
(LEAD) S. Korea finds harmful chemical in Chinese creamer product
SEOUL -- South Korea's health authorities said Friday they have found traces of a
harmful chemical in a Chinese creamer product used in instant coffee mixes.
The discovery of melamine, which can cause kidney problems and even death in
severe cases, follows a confirmation by the Korea Food and Drug Administration
(KFDA) on Thursday that two types of snacks sold domestically contained traces of
the industrial chemical. Both products were imported from China.
-----------------
Lee stresses military buildup to deter war
SEOUL -- President Lee Myung-bak said Friday that his government is determined to
steadily build the nation's military might to deter any war on the Korean
Peninsula.
"The genuine purpose of our military buildup is not to start and win a war, but
to deter a war. A strong armed force (in South Korea) will surely deter a war.
But if we're weak, a war will be inevitable," Lee said while attending this
year's Korea-U.S. joint firepower demonstration staged on the outskirts of Seoul.
(END)
