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Yonhap News Summary

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

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Foreign investors net-sell S. Korean stocks this year

SEOUL — Foreign investors have remained net sellers of South Korean stocks due to their massive selling of top-cap Samsung Electronics Co., data showed Monday.

As of Friday, offshore investors had sold a net 5.51 trillion won (US$4.99 billion) worth of local stocks during the 33 sessions this year, according to the data from industry sources.

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(LEAD) S. Korea’s exports grow 16.7 pct in first 20 days of Feb.

SEOUL — South Korea’s exports rose 16.7 percent on-year in the first 20 days of February on strong shipments of chips and autos amid the pandemic, customs data showed Monday.

The country’s outbound shipments stood at US$30.4 billion in the Feb. 1-20 period, compared with $26 billion a year earlier, according to the data from the Korea Customs Service.

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Ex-KBO star Kim Ha-seong looking to crack deep Padres lineup in 1st MLB camp

SEOUL — While carving out an All-Star career in his native South Korea, Kim Ha-seong hardly had to worry about his playing time.

It will be a different story this year, as Kim prepares himself for an intriguing roster battle in his first big league spring training with the San Diego Padres.

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ADB appoints S. Korean expert as its managing director general

SEOUL — The Asian Development Bank (ADB) has appointed Um Woochong, a South Korean expert in the international development field, as the regional bank’s managing director general, Seoul’s finance ministry said Monday.

The ADB named Um, director general of the bank’s sustainable development and climate change department, as one of its key senior officials, according to the Ministry of Economy and Finance.

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(LEAD) New virus cases in 300s again on fewer tests; cluster infections worrisome

SEOUL — South Korea’s daily new coronavirus cases dipped below 400 on Monday due to fewer tests over the weekend, but a series of cluster infections at plants and hospitals continued to pile up.

The country reported 332 more COVID-19 cases, including 313 local infections, raising the total caseload to 87,324, according to the Korea Disease Control and Prevention Agency (KDCA).

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Blazes tear through forests in southeastern cities of Andong, Yecheon

SEOUL — Wildfires have reduced huge swaths of forests in the southeastern cities of Andong and Yecheon to ash, fire authorities said Monday.

The fires that broke out Sunday engulfed the mountain areas of Andong and Yecheon, North Gyeongsang Province, and burned around 255 hectares of land, equivalent to 357 football fields.

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Hyundai Motor’s honorary chairman to relinquish all directorship positions at affiliates

SEOUL — Hyundai Motor Group said Monday its honorary chairman will step down from all management positions at affiliates next month after 20 years of efforts to improve the carmaker’s brand awareness and product quality.

Hyundai Motor Group Honorary Chairman Chung Mong-koo will step down from his executive director position on the board of Hyundai Mobis Co., the group’s auto parts affiliate, at a shareholders meeting on March 24, a company spokesman said.

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N.K. paper stresses ‘respect for economic officials’ to achieve new objectives

SEOUL — North Korea’s official newspaper on Monday stressed the importance of respecting government officials in the economic sector as the country strives to achieve a recently unveiled five-year economic development scheme.

“We must respect economic officials in the administration and establish an orderly administrative system … so that administrative orders can be delivered down and accurately implemented without hesitation,” the Rodong Sinmun, the official newspaper of the ruling Workers’ Party, said in an editorial.

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Unification ministry says defectors’ testimonies ‘valuable records’ on N.K. human rights situation

SEOUL — The unification ministry said Monday that testimonies of North Korean defectors are “valuable records” that shed light on the human rights situation in their reclusive home country.

On Sunday, four North Korean defectors said they will file a lawsuit against Unification Minister Lee In-young for defamation over his recent remarks casting doubt over what defectors said about human rights situations in the North.

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Finance minister calls for preparations to submit extra budget bill next week

SEOUL — Finance Minister Hong Nam-ki instructed officials Monday to thoroughly prepare to submit an extra budget proposal next week in a bid to buttress smaller merchants hit hard by the pandemic.

The finance ministry is working on details about this year’s first supplementary budget to provide another round of emergency relief funds to merchants and shop owners battered by the pandemic and virus restrictions.
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