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Yonhap News Summary

17:43 June 24, 2022

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

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(2nd LD) Yoon to turn down resignation offers from top Coast Guard officials

INCHEON/SEOUL -- President Yoon Suk-yeol plans to turn down the resignations tendered by top Coast Guard officials to take responsibility for overturning a previous announcement that a fisheries official killed by North Korea in 2020 was attempting to defect to the North, Yoon's office said.

Nine top Coast Guard officials, including Commissioner General Jeong Bong-hun, offered to resign en masse earlier Friday, days after the Coast Guard and the defense ministry announced they had not found any circumstances backing the probe results from two years ago, reversing their previous stance and apologizing to the bereaved family.

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(2nd LD) Bereaved family demands disclosure of records on ex-president's response on fisheries official case

SEOUL -- The bereaved family of a fisheries official killed by North Korea in 2020 vowed Friday to reveal what former President Moon Jae-in did during the six hours after their loved one was found adrift at sea until he was ultimately shot to death.

The family of the late official, Lee Dae-jun, has accused Moon of failing to do enough to save him after he was found by North Korea's military in waters near the western sea border on Sept. 22, 2020, and concluding without enough evidence that he attempted to defect to the North.

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(LEAD) Underwear firm Ssangbangwool submits bid for SsangYong

SEOUL -- South Korean underwear company Ssangbangwool said Friday it has submitted a bid for SsangYong Motor Co. in the auction to find a new investor for the debt-laden carmaker.

SsangYong's lead manager, the EY Hanyoung accounting firm, received bids from interested companies for SsangYong until 3 p.m. Friday. Ssangbangwool was the sole participant.

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(3rd LD) Unification minister warns N. Korea against provocations aimed at upping ante

SEOUL -- South Korea's unification minister on Friday warned North Korea not to continue provocative acts, saying it has nothing to gain from brinkmanship that would only lead to tougher sanctions.

Kwon Young-se, who is in charge of inter-Korean affairs, was delivering a keynote speech at an annual symposium, co-hosted by Yonhap News Agency and his ministry. It was held under the main theme of "U.S.-China-Russia Competition for Hegemony in the President Yoon Suk-yeol Era," bringing together senior government officials and national security experts. It was meant to pool their wisdom on ways to deal with multiple challenges facing the Korean Peninsula, ranging from Pyongyang's unrelenting saber-rattling to Russia's invasion of Ukraine, and a growing rivalry between the United States and China.

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Seoul shares sharply rebound on dip-buying; Korean won gains ground

SEOUL -- South Korean stocks rebounded sharply on Friday from a 19-month low the previous session amid growing concerns about a recession. The local currency rose against the U.S. dollar.

The Korea Composite Stock Price Index (KOSPI) spiked 52.28 points, or 2.26 percent, to close at 2,366.60.

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BTS vows full support for Busan's World Expo bid

BUSAN -- K-pop sensation BTS on Friday agreed to fully support Busan's bid to host the World Expo in 2030, including holding a global concert in the southern port city of Busan, the local government said.

Hybe, the entertainment company behind BTS, signed a memorandum of understanding (MOU) with the Busan city government on Friday to cooperate on the city's promotional projects for the prestigious convention overseen by the International Bureau of Expositions (BIE).

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