ID :
19122
Fri, 09/12/2008 - 11:28
Auther :
Shortlink :
https://oananews.org//node/19122
The shortlink copeid
Yonhap News Summary
The following is the first summary of major stories moved by Yonhap News Agency on Thursday.
(2nd LD) U.S. welcomes N. Korea's commitment to six-party talks: White House
WASHINGTON -- The United States Wednesday welcomed remarks by North Korea's
ceremonial head of state to continue multilateral nuclear talks amid reports of
North Korean leader Kim Jong-il's failing health.
"We are looking at the comments today from the second in command as a
positive one," White House spokesperson Dana Perino told a daily press
briefing. She said the United States will "continue to work to bring them
into compliance with what they agreed to do."
-----------------
(News Focus) Future of nuclear talks' murky amid Kim's illness
SEOUL -- Following reports of North Korean leader Kim Jong-il's latest health
setback, the future of international efforts to rid the secretive nation of its
nuclear arsenal has become uncertain, with the North's military emerging as a key
variable.
The fate of the reclusive leader is directly tied to that of his often
unpredictable country, which conducted its first and only nuclear test in 2006.
-----------------
(LEAD) S. Korean central bank freezes key rate for September
SEOUL -- South Korea's central bank on Thursday left its key interest rate for
September unchanged following last month's rate hike amid eased inflation growth
and a slowing economy.
Bank of Korea (BOK) Gov. Lee Seong-tae and his six fellow policymakers froze the
benchmark 7-day repurchase agreement rate at a nearly 8-year high of 5.25
percent, as widely expected. The BOK raised the key rate by a quarter percentage
point in August to control spiraling inflation, the first increase in a year.
-----------------
No massive capital exodus, concerns over 'September crisis' ease: official
SEOUL -- The fast-spreading rumors that South Korea could face a repeat of the
1997-98 financial crisis this month proved to be a "ghost story," as
there was no massive capital flight from the local bond market this week, a
senior economic policymaker said Thursday.
"The main reason behind the so-called 'September crisis' was maturing bonds
held by foreigners this week, but there was no chaos. Yesterday alone, investors
bought a net 600 billion won (US$544.4 million) worth of bonds and they bought
more than 2 trillion won in bond markets this month," Vice Finance Minister
Kim Dong-soo told a local radio program. "This means that foreigners will
keep investing in local treasury bonds down the road."
-----------------
Ambassador Lee urges Congress to approve Korea-U.S. FTA
WASHINGTON -- South Korean Ambassador Lee Tae-sik Wednesday urged U.S. Congress
to approve the pending Korea-U.S. free trade agreement (FTA), warning any further
delay may greatly undermine U.S. competitiveness in Korea.
"The United States used to be number one in South Korea, but now it's number
three or four," Lee told a forum here organized by business groups
supporting pending free trade deals with South Korea, Colombia and Panama.
"If you don't come to Korea, somebody else will come. We are currently
negotiating free trade agreements with the European Union and other
countries."
-----------------
(LEAD) Watchdog unlikely to OK KEB deal this month
SEOUL -- South Korea's top financial regulator said Thursday it would be
difficult for the watchdog to give regulatory approval to HSBC's deal to buy
Korea Exchange Bank (KEB) within the month.
Last September, HSBC Holdings Plc agreed to buy a 51.02 percent stake in South
Korea's No. 5 lender from Lone Star Funds, but the deal has been deadlocked as
the financial watchdog is withholding its approval, citing legal disputes over
Lone Star's 2003 purchase of KEB.
(END)
(2nd LD) U.S. welcomes N. Korea's commitment to six-party talks: White House
WASHINGTON -- The United States Wednesday welcomed remarks by North Korea's
ceremonial head of state to continue multilateral nuclear talks amid reports of
North Korean leader Kim Jong-il's failing health.
"We are looking at the comments today from the second in command as a
positive one," White House spokesperson Dana Perino told a daily press
briefing. She said the United States will "continue to work to bring them
into compliance with what they agreed to do."
-----------------
(News Focus) Future of nuclear talks' murky amid Kim's illness
SEOUL -- Following reports of North Korean leader Kim Jong-il's latest health
setback, the future of international efforts to rid the secretive nation of its
nuclear arsenal has become uncertain, with the North's military emerging as a key
variable.
The fate of the reclusive leader is directly tied to that of his often
unpredictable country, which conducted its first and only nuclear test in 2006.
-----------------
(LEAD) S. Korean central bank freezes key rate for September
SEOUL -- South Korea's central bank on Thursday left its key interest rate for
September unchanged following last month's rate hike amid eased inflation growth
and a slowing economy.
Bank of Korea (BOK) Gov. Lee Seong-tae and his six fellow policymakers froze the
benchmark 7-day repurchase agreement rate at a nearly 8-year high of 5.25
percent, as widely expected. The BOK raised the key rate by a quarter percentage
point in August to control spiraling inflation, the first increase in a year.
-----------------
No massive capital exodus, concerns over 'September crisis' ease: official
SEOUL -- The fast-spreading rumors that South Korea could face a repeat of the
1997-98 financial crisis this month proved to be a "ghost story," as
there was no massive capital flight from the local bond market this week, a
senior economic policymaker said Thursday.
"The main reason behind the so-called 'September crisis' was maturing bonds
held by foreigners this week, but there was no chaos. Yesterday alone, investors
bought a net 600 billion won (US$544.4 million) worth of bonds and they bought
more than 2 trillion won in bond markets this month," Vice Finance Minister
Kim Dong-soo told a local radio program. "This means that foreigners will
keep investing in local treasury bonds down the road."
-----------------
Ambassador Lee urges Congress to approve Korea-U.S. FTA
WASHINGTON -- South Korean Ambassador Lee Tae-sik Wednesday urged U.S. Congress
to approve the pending Korea-U.S. free trade agreement (FTA), warning any further
delay may greatly undermine U.S. competitiveness in Korea.
"The United States used to be number one in South Korea, but now it's number
three or four," Lee told a forum here organized by business groups
supporting pending free trade deals with South Korea, Colombia and Panama.
"If you don't come to Korea, somebody else will come. We are currently
negotiating free trade agreements with the European Union and other
countries."
-----------------
(LEAD) Watchdog unlikely to OK KEB deal this month
SEOUL -- South Korea's top financial regulator said Thursday it would be
difficult for the watchdog to give regulatory approval to HSBC's deal to buy
Korea Exchange Bank (KEB) within the month.
Last September, HSBC Holdings Plc agreed to buy a 51.02 percent stake in South
Korea's No. 5 lender from Lone Star Funds, but the deal has been deadlocked as
the financial watchdog is withholding its approval, citing legal disputes over
Lone Star's 2003 purchase of KEB.
(END)
