Yonhap News Summary

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

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(2nd LD) President Lee vows economic revival, stronger reform drive
SEOUL -- South Korean President Lee Myung-bak called for all-out efforts to boost
the slumping economy Friday, vowing what he called "diversified" efforts to
create jobs and a stronger drive to reform the country's state-run businesses.
The call came as part of his four-point policy objectives that also include
improved ties with North Korea, which on Thursday blamed Seoul's
"anti-unification forces" for soured relations between the divided Koreas in an
annual government editorial for the new year.
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(2nd LD) S. Korea swings to trade deficit in 2008
SEOUL -- South Korea posted its first trade deficit in more than a decade in 2008
due to the worldwide economic slump and a surge in energy prices, a government
report said Friday.
The trade deficit reached US$12.9 billion last year, compared with a surplus of
$14.6 billion the year before, the Ministry of Knowledge Economy said. It was the
first trade deficit since the $8.4 billion shortfall in 1997.
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S. Korean manufacturers' financial health hits record low
SEOUL -- South Korean manufacturers' financial conditions deteriorated to a
record low in December and are expected to worsen as a global economic slump
begins to hit exports amid sluggish domestic demand, data by the central bank
showed Friday.
The business survey index (BSI) for manufacturers' financial situations declined
to 61 for December, compared with 66 the previous month, according to the Bank of
Korea (BOK). The December figure is the lowest since January 2003, when the BOK
began to compile related data on a monthly basis.
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Seoul stocks edge up 0.08 pct in late morning
SEOUL -- South Korean stocks inched up 0.08 percent late Friday morning in the
first session for 2009, lifted by a shipbuilder rally, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) added 0.88 points to
1,125.35 as of 11:20 a.m.
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Korean currency tumbles 5 pct against dollar
SEOUL -- The South Korean currency plunged 4.98 percent against the U.S. dollar
on the first trading day of 2009 Friday on strong dollar demand by companies to
cover import bills, dealers said.
The local currency was trading at 1,325.50 won to the greenback as of 10:30 a.m.,
down 66 won from the previous session's close, after dipping as low as 1,331 won
at one point.
(END)