Yonhap News Summary

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

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(LEAD) NK nuke attack-electromagnetic threats
SEOUL -- South Korea plans to step up its defenses against the threat of an
electromagnetic pulse (EMP), which could paralyze its high-tech weapons systems
in the event of a nuclear blast, a source said Wednesday.
The plan, part of a defense reform plan subject to presidential approval this
week, comes amid high tension on the Korean Peninsula after North Korea detonated
a nuclear device on May 25 for the second time.
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(LEAD) IMF to up growth targets for Asian emerging markets
SEOUL -- The International Monetary Fund will likely upgrade its growth outlook
for South Korea and other Asian emerging economies as exports and financial
markets begin to stabilize following a global crisis, a senior economist at the
organization said Wednesday.
"We haven't finalized the new numbers (for emerging markets). But it is very
likely that many of the numbers are going to be revised upward on average by
about one percentage point," Olivier Blanchard, senior economic counselor at the
IMF, told an international conference here co-hosted by the Seoul government and
the World Bank.
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S. Korean economy to shrink 2 pct in 2009: think tank
SEOUL -- South Korea's economic growth is expected to slip into negative
territory this year despite government efforts to reduce the fallout from the
worldwide slump, a state-run think tank said Wednesday.
The Korea Institute for Industrial Economics and Trade (KIET) said in a report
the economy will likely contract 2 percent on-year, compared with a 2.2 percent
gain in 2008.
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U.S. general urges S. Korea to bolster air force modernization
SEOUL-- South Korea needs to modernize its air force to improve its precision
bombing ability and reduce the risk of destruction by North Korea in its urban
areas, the top U.S. air force officer here said Wednesday.
Lt. Gen. Jeffrey Remington, who heads the 7th Air Force that operates about 80
aircraft here, also said North Korea has a "robust integrated air defense
capability."
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S. Korea's economy to recover in 2010, CEOs say
SEOUL -- More than two-thirds of chief executive officers in South Korea expected
the nation's economy to rebound next year, a survey showed Wednesday.
The Korea Employers Federation said in a statement that 67.9 percent of the 244
chief executive officers surveyed predicted an economic upturn in 2010, whereas
14.7 percent anticipated it would come in 2011.
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N. Korean leader watches Russian opera
SEOUL -- North Korean leader Kim Jong-il attended a performance by a Russian
dance ensemble with his vice foreign minister and party officials, the North's
media said Wednesday.
Kim's outing comes 10 days after he reportedly viewed a Chinese opera produced by
a local art troupe on the occasion of the 60th anniversary of diplomatic
relations between North Korea and China.
(END)