Yonhap News Summary

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

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(2nd LD) Seoul to help restore int'l flights to 50 pct by year's end

SEOUL -- South Korea said Wednesday it will help restore the number of inbound and outbound international flights to 50 percent of the 2019 level by the year's end to meet pent-up travel demand amid eased virus curbs.

Domestic and multinational airlines offered 4,714 international flights through Incheon International Airport and other local airports in late 2019 before the COVID-19 pandemic hit the airline industry. In April, the figure plunged to 420, or 8.9 percent of the pre-pandemic level, according to the Ministry of Land, Infrastructure and Transport.

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(LEAD) New S. Korean gov't needs 'forward-looking' policy on N. Korea to prevent nuke testing: minister

SEOUL -- South Korea's outgoing point man on North Korea urged the country's incoming administration Wednesday to adopt a "forward-looking" approach toward North Korea, especially in order to prevent nuclear weapons testing amid heightening tensions on the Korean Peninsula.

Unification Minister Lee In-young made the remarks during his last regular press conference in his capacity as the liberal Moon Jae-in government's top official on Pyongyang.

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LG Energy Solution says U.S. battery probe involves no additional issues

SEOUL -- LG Energy Solution Ltd.(LGES) said Wednesday the U.S. auto safety agency's probe into its batteries is a "follow-up procedure" to the recent recalls of electric vehicles made with LG products, stressing that it does not involve any additional issues.

The U.S. National Highway Traffic Safety Administration (NHTSA) said Tuesday (U.S. time) it was opening an equipment query into 138,324 EVs made by Mercedes-Benz Group A.G., Stellantis N.V., General Motors Co. and Hyundai Motor Co. with LG batteries over possible fire risks.

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Samsung head stays S. Korea's richest stockholder

SEOUL -- Lee Jae-yong, the chief of Samsung Group, South Korea's top conglomerate, remained the country's richest stockholder in the first quarter of the year despite a fall in the value of his shareholdings, a corporate tracker said Wednesday.

Stock holdings of Lee, vice chairman of global tech titan Samsung Electronics Co., were valued at 13.1 trillion won (US$10.3 billion) as of end-March, the largest among local conglomerate owners, according to Korea CXO Institute.

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S. Korea to boost cement production amid supply woes

SEOUL -- South Korean cement companies decided Wednesday to increase their production by 35 percent on-quarter for the next three months to ease concerns over a supply shortage amid the crisis surrounding Ukraine, the industry ministry said.

The country is running out of cement reserves due mainly to the companies' growing investment in eco-friendly facilities and the unexpected growth in demand by builders, while global supply chains of bituminous coal used to make cement have been unstable due to the crisis surrounding Ukraine.

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(2nd LD) Yoon says he will upgrade relations with Germany

SEOUL -- President-elect Yoon Suk-yeol said Wednesday he plans to upgrade relations with Germany as he met with the country's top envoy to Seoul.

Yoon noted during the meeting with Amb. Michael Reiffenstuel that Germany is South Korea's biggest trading partner among the member states of the European Union.

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(LEAD) Transition team chief seeks China's cooperation for stability on Korean Peninsula

SEOUL -- Transition team Chairman Ahn Cheol-soo on Wednesday called for China's cooperation for stability on the Korean Peninsula, as he met with Beijing's top envoy to Seoul.

Ahn and Ambassador Xing Haiming met at the transition team's office and discussed bilateral relations at a time of heightened tension surrounding North Korea's nuclear and missile programs.

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Star TV director Kim Tae-ho returns with new reality show on local streaming platform

SEOUL -- Kim Tae-ho, a star director-producer best known for the hit MBC TV show "Infinite Challenge," said Wednesday that he left the public broadcaster because he wanted to take part in the ongoing seismic change in the entertainment industry.

Kim began working for MBC in 2001 and rose to fame as he produced the popular variety show "Infinite Challenge" from 2005 to 2018. His subsequent show, "Hangout with Yoo," was also successful.

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