Yonhap News Summary

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

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U.S. unlikely to accept N. Korean envoy to Obama's inauguration
SEOUL -- South Korean officials said Monday that North Korea is unlikely to send
a high-profile envoy to the swearing-in ceremony of President-elect Barack Obama
in Washington later this month.
There have been persistent rumors that North Korea may dispatch Vice Foreign
Minister Kim Kye-gwan, who doubles as Pyongyang's top nuclear envoy, to the
ceremony in a show of goodwill to the incoming president.
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(LEAD) N. Korea sets up watchdog for overdue parliamentary election
SEOUL -- North Korea began preparing for its long-overdue parliamentary elections
next month by forming an election watchdog, Pyongyang's official news agency said
Monday.
North Korea bypassed the vote, which was expected to be held by September, amid
rumors that leader Kim Jong-il suffered a stroke in August. An announcement last
week that elections will be held on March 8 was widely viewed as a sign that he
has recovered enough to appear in public.
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(LEAD) Lee, Aso agree to improve ties, cooperate on economic issues
SEOUL -- Recurring disputes over history between South Korea and Japan will not
prevent the two nations from cooperating to overcome the economic downturn
threatening to pull them into an unprecedented recession, the heads of the
countries said Monday.
"There have been difficult times due to various reasons, but when we look back we
see there was never a time when we moved backward, though there were times when
we wavered," South Korean President Lee Myung-bak said during a joint press
conference with visiting Japanese Prime Minister Taro Aso.
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BOK to pump 1.5 tln won in liquidity through repos
SEOUL -- South Korea's central bank said Monday it plans to supply 1.5 trillion
won (US$1.1 billion) in liquidity by buying longer-dated repurchase agreement
deals this week to help funds flow more smoothly in the financial system.
The Bank of Korea (BOK) said it will hold an auction Tuesday to buy the 91-day
repurchase agreement deals.
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Investment banks predict average 0.8 pct growth for S. Korea
SEOUL -- Major global investment banks lowered their 2009 growth projections for
South Korea to below 1 percent, reflecting the impact of a faster-than-expected
worldwide recession on the nation's export-driven economy, data showed Monday.
According to the data provided by the Korea Center for International Finance,
nine major investment banks predicted Asia's fourth-largest economy would expand
by an average of 0.8 percent for this year, down from a 1.2 percent expansion
predicted at the end of November. They forecast an average growth rate of 3
percent in October.
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Prosecutors consult finance ministry in on-line pundit case
SEOUL -- Prosecutors said Monday they have been working with the finance ministry
in the investigation of an influential on-line pundit alleged to have spread
false information about government economic policies.
Prosecutors apprehended an unemployed 30-year-old man last week whom they believe
authored over 100 online posts critical of the government's handling of the
economy. Identified by his surname Park, the suspect is more widely known by his
Internet alias "Minerva."
(END)