Yonhap News Summary

Jul 15, 2023

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

-----------------Seoul shares turn higher late Mon. morning

SEOUL -- Seoul shares turned higher late Monday morning, as the U.S. Federal Reserve looks set to take a cautious stance in raising rates again.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.91 points, or 0.75 percent, to 2,538.05 as of 11:20 a.m.

-----------------N. Korea apparently reopens its border due to economic difficulties: Seoul

SEOUL -- North Korea apparently has decided to reopen its border after more than three years of its tight virus curbs due largely to economic challenges from its border closure, South Korea's unification ministry said Monday.

North Korea said Sunday it has allowed its citizens abroad to return home amid eased concerns about the COVID-19 pandemic and will put them under quarantine for a week. The decision marked the secretive regime making official the reopening of its border.

-----------------POSCO Future M eyes 3.4 tln won profit by 2030 with secondary battery materials

SEOUL -- POSCO Future M Co. said Monday it aims to achieve 3.4 trillion won (US$2.57 billion) in annual operating profit by 2030 as it accelerates the expansion into the manufacturing of secondary battery materials amid the robust electric vehicle (EV) demand.

The chemical unit of South Korean steel giant POSCO Holdings Inc. unveiled the blueprint that also included the goal of generating 43 trillion won in sales by the same year.

-----------------Gov't considers relocating bust of independence fighter from defense ministry

SEOUL -- The government is considering relocating a bust of revered independence fighter Hong Beom-do from outside the defense ministry headquarters due to his past record of collaborating with Soviet communist forces, officials said Monday.

Earlier, the defense ministry said it is considering relocating the busts of five Korean independence fighters, including Hong's, from the Korea Military Academy in northern Seoul, sparking protest from opposition parties and the Heritage of Korean Independence, an association representing the independence fighters and their descendants.

-----------------Man nabbed in deadly bar stabbing in Yeongcheon

YEONGCHEON -- A drunk man stabbed one person to death and wounded three others at a bar in the southeastern city of Yeongcheon in anger after a woman drinking with him left to join the victims at the next table, police said Monday.

Police arrested the suspect in his 50s at the scene after he attacked four people, who were sitting at the table next to him, with a weapon at the bar in Yeongcheon, 243 kilometers southeast of Seoul, at 11:22 p.m. Sunday, according to the Gyeongbuk Provincial Police.

-----------------University of Sheffield library opens Korean section

SEOUL -- The University of Sheffield in Britain has recently opened a section dedicated to materials related to Korea in its library, the National Library of Korea (NLK) said Monday.

The "Window on Korea" section was added at the university's library in Sheffield, Britain, to mark the 140th anniversary of diplomatic ties between the two countries, the NLK said.

-----------------S. Koreans finish well out of contention at final PGA Tour playoff event

SEOUL -- Three South Korean players have ended up well back of the pack at the final playoff event on the PGA Tour.

Kim Si-woo and Tom Kim tied for 20th place at the Tour Championship in Atlanta on Sunday (local time), with both finishing at six-under 276. Kim Si-woo shot a four-under 66 in the final round at East Lake Golf Club with six birdies and two bogeys. Tom Kim went bogey-free in his round of 67.(END)