ID :
36982
Mon, 12/22/2008 - 15:40
Auther :
Shortlink :
http://m.oananews.org//node/36982
The shortlink copeid
Yonhap News Summary
The following is the second summary of major stories moved by Yonhap News Agency
on Monday.
-----------------
(LEAD) Seoul shares end down 0.12 pct on profit-taking
SEOUL -- South Korean stocks closed 0.12 percent lower Monday as investors took
profits, disappointed with the government's delay in easing regulations on the
real estate market, analysts said. The local currency fell against the U.S.
dollar.
Reversing earlier gains, the benchmark Korea Composite Stock Price Index (KOSPI)
fell 1.36 points to 1,179.61. Volume was moderate at 431 million shares worth
4.54 trillion won (US$3.46 billion), with gainers outpacing losers 435 to 368.
-----------------
Think tank cuts 2009 economic growth forecast to 1.7 pct
SEOUL -- The South Korean economy is expected to grow a mere 1.7 percent in 2009
due to falling exports, a private think tank predicted Monday, halving its
earlier estimate of 3.4 percent.
In its latest report on the economy, the Korea Institute of Finance (KIF) said
the nation's gross domestic product is projected to grow 0.2 percent in the first
half of next year and 3.2 percent in the second half.
-----------------
(LEAD) Hyundai, Kia freeze some wages, cut 2008 sales target by 12.5 pct
SEOUL -- Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday they
have frozen salaries for office managers and cut combined sales targets this year
by 12.5 percent as a global economic downturn significantly weakened demand for
new vehicles.
Hyundai and Kia, South Korea's two largest automakers, aim to sell 4.2 million
vehicles worldwide this year, down from an earlier target of 4.8 million units,
the two companies said in a joint statement, without saying separate sales goals
for the two carmakers.
-----------------
(LEAD) Ex-president's brother indicted on bribery charges
SEOUL -- Prosecutors indicted an elder brother of former President Roh Moo-hyun
and several of his close acquaintances Monday over their alleged involvement in a
murky buyout deal of a securities firm in 2006.
Roh Gun-pyeong, arrested earlier this month, is expected to be put on trial on
charges of receiving 296 million won (US$227,000) for influencing the buyout of
an ailing securities firm by Nonghyup, a state-run conglomerate, the Supreme
Prosecutors' Office said in an interim investigation report.
-----------------
(2nd LD) Lee indicates sweeping overhaul of bureaucracy
SEOUL -- President Lee Myung-bak said on Monday that his bid for economic reform
and change won't be hindered by the ongoing economic difficulties, urging ranking
civil servants to follow his administrative vision and philosophy in weathering
the unprecedented financial crisis.
Meeting with top officials of the land, agriculture, public administration and
environment ministries over their key policy goals for 2009, Lee warned that some
reform-resistant bureaucrats, who gained rapid promotion under the previous
liberal administration, are still passive in enforcing his reform and stimulus
measures.
-----------------
(LEAD) Assembly speaker to invoke arbitration authority to break impasse
SEOUL -- South Korea's National Assembly speaker said Monday he will use his
authority to arbitrate between rival parties to break an ongoing legislative
impasse, a move that may help advance a free trade pact with Washington but
trigger more anger from opposition parties.
The parliament has been paralyzed since the ruling Grand National Party (GNP)
unilaterally introduced the Korea-U.S. free trade agreement (FTA) to the
legislature last week, with the largest opposition party boycotting sessions and
occupying committee rooms.
-----------------
Samsung Heavy requests limit on oil spill compensation
SEOUL -- Samsung Heavy Industries Co. has requested a Seoul court to place a
ceiling on the amount of compensation that may be levied in a civil suit launched
by victims of an oil spill, court officials said Monday.
On Dec. 7, 2007, some 12,000 tons of crude oil spilled into the seas off of Taean
following a collision between an oil tanker owned by the Hong Kong-registered
Hebei Spirit Shipping Co. and a barge owned by Samsung Heavy, blackening beaches
and fish farms along the west coast.
(END)
on Monday.
-----------------
(LEAD) Seoul shares end down 0.12 pct on profit-taking
SEOUL -- South Korean stocks closed 0.12 percent lower Monday as investors took
profits, disappointed with the government's delay in easing regulations on the
real estate market, analysts said. The local currency fell against the U.S.
dollar.
Reversing earlier gains, the benchmark Korea Composite Stock Price Index (KOSPI)
fell 1.36 points to 1,179.61. Volume was moderate at 431 million shares worth
4.54 trillion won (US$3.46 billion), with gainers outpacing losers 435 to 368.
-----------------
Think tank cuts 2009 economic growth forecast to 1.7 pct
SEOUL -- The South Korean economy is expected to grow a mere 1.7 percent in 2009
due to falling exports, a private think tank predicted Monday, halving its
earlier estimate of 3.4 percent.
In its latest report on the economy, the Korea Institute of Finance (KIF) said
the nation's gross domestic product is projected to grow 0.2 percent in the first
half of next year and 3.2 percent in the second half.
-----------------
(LEAD) Hyundai, Kia freeze some wages, cut 2008 sales target by 12.5 pct
SEOUL -- Hyundai Motor Co. and its affiliate Kia Motors Corp. said Monday they
have frozen salaries for office managers and cut combined sales targets this year
by 12.5 percent as a global economic downturn significantly weakened demand for
new vehicles.
Hyundai and Kia, South Korea's two largest automakers, aim to sell 4.2 million
vehicles worldwide this year, down from an earlier target of 4.8 million units,
the two companies said in a joint statement, without saying separate sales goals
for the two carmakers.
-----------------
(LEAD) Ex-president's brother indicted on bribery charges
SEOUL -- Prosecutors indicted an elder brother of former President Roh Moo-hyun
and several of his close acquaintances Monday over their alleged involvement in a
murky buyout deal of a securities firm in 2006.
Roh Gun-pyeong, arrested earlier this month, is expected to be put on trial on
charges of receiving 296 million won (US$227,000) for influencing the buyout of
an ailing securities firm by Nonghyup, a state-run conglomerate, the Supreme
Prosecutors' Office said in an interim investigation report.
-----------------
(2nd LD) Lee indicates sweeping overhaul of bureaucracy
SEOUL -- President Lee Myung-bak said on Monday that his bid for economic reform
and change won't be hindered by the ongoing economic difficulties, urging ranking
civil servants to follow his administrative vision and philosophy in weathering
the unprecedented financial crisis.
Meeting with top officials of the land, agriculture, public administration and
environment ministries over their key policy goals for 2009, Lee warned that some
reform-resistant bureaucrats, who gained rapid promotion under the previous
liberal administration, are still passive in enforcing his reform and stimulus
measures.
-----------------
(LEAD) Assembly speaker to invoke arbitration authority to break impasse
SEOUL -- South Korea's National Assembly speaker said Monday he will use his
authority to arbitrate between rival parties to break an ongoing legislative
impasse, a move that may help advance a free trade pact with Washington but
trigger more anger from opposition parties.
The parliament has been paralyzed since the ruling Grand National Party (GNP)
unilaterally introduced the Korea-U.S. free trade agreement (FTA) to the
legislature last week, with the largest opposition party boycotting sessions and
occupying committee rooms.
-----------------
Samsung Heavy requests limit on oil spill compensation
SEOUL -- Samsung Heavy Industries Co. has requested a Seoul court to place a
ceiling on the amount of compensation that may be levied in a civil suit launched
by victims of an oil spill, court officials said Monday.
On Dec. 7, 2007, some 12,000 tons of crude oil spilled into the seas off of Taean
following a collision between an oil tanker owned by the Hong Kong-registered
Hebei Spirit Shipping Co. and a barge owned by Samsung Heavy, blackening beaches
and fish farms along the west coast.
(END)
