ID :
23160
Tue, 10/07/2008 - 17:50
Auther :
Shortlink :
http://m.oananews.org//node/23160
The shortlink copeid
Yonhap News Summary
The following is the second summary of major stories moved by Yonhap News Agency
on Tuesday.
-----------------
(LEAD) S. Korean minister upbeat about deal on nuclear verification
SEOUL -- South Korean Foreign Minister Yu Myung-hwan on Tuesday hinted at
progress in talks between North Korea and the United States on the verification
of Pyongyang's nuclear program, saying both sides are showing flexibility.
"The U.S. is handling the issue with utmost flexibility, although there is no
change in substantial content," he told lawmakers during an annual parliamentary
inspection of his ministry's affairs. "So is North Korea," the minister added.
-----------------
(LEAD) Seoul shares rise on won's decline
SEOUL -- South Korean stocks rose slightly Tuesday on hopes that exporting
companies would benefit from a weaker won, analysts said. The local currency
tumbled against the greenback.
Recovering from a fall of over 2 percent in morning trading, the benchmark Korea
Composite Stock Price Index (KOSPI) added 7.35 points, or 0.54 percent, to
1,366.1. Volume was moderate at 343 million shares worth 4.65 trillion won
(US$3.49 billion), with losers outpacing gainers 526 to 281.
-----------------
(LEAD) (News Focus) S. Korean won expected to continue fall against dollar
SEOUL -- The South Korean won is forecast to lose further ground, possibly
breaching the 1,400-won mark, as a global credit crisis dampens exports and a
slumping stock market accelerates capital flight, experts said Tuesday.
The local currency closed at 1,328.10 won to the greenback, a plunge of 59.10 won
from the previous session's close. At one point, the won touched 1,350.00, its
lowest since April 6, 2001. It fell 5 percent on Monday.
-----------------
(2nd LD) Calm urged amid won's freefall against dollar
SEOUL -- South Korea's finance minister urged participants in the local currency
market Tuesday to respond "rationally" to sharp fluctuations of the won's value
against the U.S. dollar.
The call came after the Korean currency nosedived by 59.1 won to 1,328.1 won
against the greenback, raising concerns over a financial crisis.
-----------------
N. Korea's foreign debt estimated at US$18 billion
SEOUL -- North Korea is believed to be suffering from serious economic woes as
the country's external debt is estimated to be US$18 billion, a lawmaker said
Tuesday.
North Korea owes a total of $18 billion to 30 different countries, including
Russia and China, said Kwon Young-se of the ruling Grand National Party (GNP),
citing estimates from the Unification Ministry.
-----------------
S. Korea may send destroyer to combat Somali pirates
SEOUL -- South Korea is considering dispatching a navy ship to waters off Somalia
in a bid to protect its fishing and cargo ships from piracy, Seoul's top diplomat
said Tuesday.
"There are (ongoing) consultations (among related ministries) on the issue of
dispatching a navy ship," Foreign Minister Yu Myung-hwan told lawmakers during an
inspection of his ministry. He did not provide further details.
on Tuesday.
-----------------
(LEAD) S. Korean minister upbeat about deal on nuclear verification
SEOUL -- South Korean Foreign Minister Yu Myung-hwan on Tuesday hinted at
progress in talks between North Korea and the United States on the verification
of Pyongyang's nuclear program, saying both sides are showing flexibility.
"The U.S. is handling the issue with utmost flexibility, although there is no
change in substantial content," he told lawmakers during an annual parliamentary
inspection of his ministry's affairs. "So is North Korea," the minister added.
-----------------
(LEAD) Seoul shares rise on won's decline
SEOUL -- South Korean stocks rose slightly Tuesday on hopes that exporting
companies would benefit from a weaker won, analysts said. The local currency
tumbled against the greenback.
Recovering from a fall of over 2 percent in morning trading, the benchmark Korea
Composite Stock Price Index (KOSPI) added 7.35 points, or 0.54 percent, to
1,366.1. Volume was moderate at 343 million shares worth 4.65 trillion won
(US$3.49 billion), with losers outpacing gainers 526 to 281.
-----------------
(LEAD) (News Focus) S. Korean won expected to continue fall against dollar
SEOUL -- The South Korean won is forecast to lose further ground, possibly
breaching the 1,400-won mark, as a global credit crisis dampens exports and a
slumping stock market accelerates capital flight, experts said Tuesday.
The local currency closed at 1,328.10 won to the greenback, a plunge of 59.10 won
from the previous session's close. At one point, the won touched 1,350.00, its
lowest since April 6, 2001. It fell 5 percent on Monday.
-----------------
(2nd LD) Calm urged amid won's freefall against dollar
SEOUL -- South Korea's finance minister urged participants in the local currency
market Tuesday to respond "rationally" to sharp fluctuations of the won's value
against the U.S. dollar.
The call came after the Korean currency nosedived by 59.1 won to 1,328.1 won
against the greenback, raising concerns over a financial crisis.
-----------------
N. Korea's foreign debt estimated at US$18 billion
SEOUL -- North Korea is believed to be suffering from serious economic woes as
the country's external debt is estimated to be US$18 billion, a lawmaker said
Tuesday.
North Korea owes a total of $18 billion to 30 different countries, including
Russia and China, said Kwon Young-se of the ruling Grand National Party (GNP),
citing estimates from the Unification Ministry.
-----------------
S. Korea may send destroyer to combat Somali pirates
SEOUL -- South Korea is considering dispatching a navy ship to waters off Somalia
in a bid to protect its fishing and cargo ships from piracy, Seoul's top diplomat
said Tuesday.
"There are (ongoing) consultations (among related ministries) on the issue of
dispatching a navy ship," Foreign Minister Yu Myung-hwan told lawmakers during an
inspection of his ministry. He did not provide further details.
