Yonhap News Summary

The following is the second summary of major stories moved by Yonhap News Agency on Tuesday.
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Rice plans farewell visit to S. Korea
SEOUL -- U.S. Secretary of State Condoleezza Rice plans to visit South Korea
early next month as part of her farewell trip to the region, a South Korean
government official said Tuesday.
"Secretary Rice is scheduled to make a one-day trip to Seoul around Jan. 8," the
official said on condition of anonymity.
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(LEAD) Seoul shares up 0.62 pct on institution, foreign buying
SEOUL -- South Korean stocks ended up 0.62 percent on the last trading session of
this year Tuesday as institutions and foreign investors picked up recently
beaten-down shares despite overnight Wall Street setbacks. The local currency
rose against the U.S. dollar for four days in a row.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.88 points to
1,124.47, snapping its five-day losing streak. Volume was moderate at 352.75
million shares worth 3.21 trillion won (US$2.54 billion), with winners outpacing
losers 517 to 285.
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S. Koreans pick economic recovery as top new year's wish
SEOUL -- Amid signs of a serious economic downturn, nearly two out of every three
South Korean adults picked the nation's economic recovery as their strongest wish
for 2009, a survey showed Tuesday.
A recent poll conducted by Gallup Korea on 1,515 adults showed that 66.7 percent
of respondents hoped for an "economic recovery" as their "national wish" for next
year. The survey was held in November.
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(LEAD) S. Korea's industrial output plunges 14.1 pct in Nov.
SEOUL -- South Korea's industrial output fell at the fastest pace ever in
November amid growing concerns that anemic domestic demand and exports could drag
the nation's economy into a recession, a government report showed Tuesday.
According to the report by the National Statistical Office (NSO), industrial
production shrank 14.1 percent last month from a year earlier, further slumping
from a 2.3 percent on-year decline in October. This marked the sharpest fall in
history since related data started to be compiled in January 1970.
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(3rd LD) S. Korea logs current account surplus for 2nd month in Nov.
SEOUL -- South Korea posted a current account surplus for a second month in
November, the central bank said Tuesday, raising hopes it could help ease
downward pressure on the sliding local currency.
The current account surplus reached US$2.06 billion in November, down from a
revised record $4.75 billion surplus the previous month, the Bank of Korea (BOK)
said in a report. The surplus sharply narrowed as a global economic slump dented
exports.
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Court partially nullifies SC First's currency option contracts
SEOUL -- A Seoul court Tuesday partially invalidated currency option contracts
between SC First Bank Ltd. and two exporters, saying the lender failed to meet
its obligation to protect clients from the bank's potentially huge losses.
The Seoul Central District Court said it "partially accepts DS LCD Co. and MonAmi
Co.'s application for provisional dispositions on their "knock-in knock-out
(KIKO)" deals with the South Korean unit of British Standard Chartered Bank.
(END)

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