Yonhap News Summary

The following is the first summary of major stories moved by Yonhap News Agency
on Thursday.

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(2nd LD) Global recession weighs on export-driven S. Korean economy: reports
SEOUL -- With fears over a worldwide recession growing, South Korea faces
increasing "downside risks" for the export-driven economy showing signs of a
sharp slowdown, reports said Thursday.
"Despite easing inflationary pressures, South Korea faces increased downside
risks such as contraction of production, domestic demand and exports," the
finance ministry said in its monthly report analyzing economic trends.
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S. Korean auto production drops sharply in Nov.
SEOUL -- South Korea's production of cars, trucks and buses fell 18.2 percent in
November from the same month last year as the global economic downturn has
dampened demand for the nation's vehicles, producers said Thursday.
Production fell to 328,178 units for the sixth consecutive month of declines, the
Korea Automobile Manufacturers' Association said in a statement.
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One third of listed firms have negative cash flows: poll
SEOUL -- About three out of every 10 listed firms in South Korea posted negative
cash flows in the first nine months of the year due to a credit squeeze, a poll
showed Thursday.
According to the survey of 629 listed companies that close their books on Dec.
31, 35 percent registered negative operating cash flows in the January-September
period, despite their operating profits. The figure is the highest level since
1997 when the comparable figure was 23.1 percent.
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Hyundai Asan calls for better ties with N. Korea
SEOUL -- Hyundai Asan Corp., a South Korean company operating businesses in North
Korea, asked its government Thursday to take a "bold step" to improve relations
with the North, amid worsening inter-Korean ties that have seen the company
suspend tour programs to the communist neighbor.
In a letter signed by hundreds of employees at Hyundai Asan, the company also
called for the South Korean government to provide financial support to keep its
businesses afloat.
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Seoul, Tokyo to set up police hotline
SEOUL -- Police chiefs of Seoul and Tokyo agreed on Thursday to set up a hotline
and strengthen cooperation to combat cyber crime, South Korea's police agency
said.
Kim Seok-ki, commissioner of Seoul Metropolitan Police Agency, reached the
agreement with Toshiro Yonemura, superintendent general of Tokyo's Metropolitan
Police Department, during the latter's visit to Seoul, it said.
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Court mulls arrest warrant for ex-president's brother on alleged bribery
SEOUL -- A court was to decide whether to issue an arrest warrant for the elder
brother of former President Roh Moo-hyun later Thursday, a watershed for the
ongoing investigation into influence-peddling allegations against him.
Roh Gun-pyeong, 66, is suspected of influencing the state-run National
Agricultural Cooperative Federation, or Nonghyup, to take over an ailing
securities firm and accepting compensation while his brother was in office in
2006.
(END)