Yonhap News Summary

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

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(2nd LD) Samsung to invest 450 tln won in chip, bio industries for next 5 years

SEOUL -- Samsung Electronics Co. said Tuesday it will invest 450 trillion won (US$355 billion) in semiconductor and biopharmaceuticals for the next five years, as South Korea's largest company seeks to further expand its business in future growth areas.

The company said in a press release it will spend 360 trillion won, or 80 percent of the investment, for research and development, and talent nurturing in South Korea, especially in advanced chipmaking.

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(LEAD) Hyundai to invest 63 tln won in domestic businesses by 2025

SEOUL -- South Korea's Hyundai Motor Group said Tuesday it will invest 63 trillion won (US$49.8 billion) in its domestic businesses by 2025 in the latest move to become a future mobility solutions provider.

Hyundai Motor Co., Kia Corp. and Hyundai Mobis Co. will make the investments in their domestic production facilities, electrification, autonomous driving and other next-generation technologies to serve as the "hub of the group's future businesses," the group said in a statement.

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N. Korea apparently all set for nuke, ballistic missile tests: S. Korean military

SEOUL -- North Korea appears to have completed its preparations for a new nuclear and ballistic missile test, South Korea's military said Tuesday, stressing its "firm" readiness posture against the reclusive regime's possible provocations.

"We believe that North Korea's preparations for a nuclear test and a missile launch have been completed," Col. Kim Jun-rak, spokesperson of the Joint Chiefs of Staff, said at a regular press briefing. "With regard to this, our military is maintaining a firm readiness posture."

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S. Korea open to reviewing May 24 sanctions on N. Korea: official

SEOUL -- The South Korean government will review the issue of whether to maintain its economic sanctions imposed on North Korea in 2010 for a deadly naval attack, mindful of President Yoon Suk-yeol's stated practical approach, a unification ministry official said Tuesday.

The remark came as Seoul marked the 12th year since the sanctions were applied on the North after the North sank the South Korean warship Cheonan in a torpedo attack, which killed 46 sailors.

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S. Korea vigilant against possible inflow of monkeypox virus: KDCA

SEOUL -- South Korea remains vigilant against a potential inflow of the monkeypox virus, health officials said Tuesday, as an increasing number of countries have recently reported cases of the virus traditionally confined to regions in Africa.

The Korea Disease Control and Prevention Agency (KDCA) said in a regular briefing that the agency doesn't rule out the possibility of an influx of the monkeypox virus amid an increase in international travel on the back of eased COVID-19 rules and the incubation period of the virus.

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S. Korea to intensify global cooperation to better regulate crypto asset market

SEOUL -- South Korea will intensify global cooperation to better regulate the crypto asset market amid growing worries over excessive volatility demonstrated in the recent collapse of TerraUSD and Luna cryptocurrencies, a senior government official said Tuesday.

The crash of TerraUSD, known as a "stablecoin," and its sister coin Luna caused massive losses to many investors across the world, raising the need to better regulate the fast-growing market and protect investors from excessive volatility.

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(LEAD) Rep. Kim Jin-pyo picked as National Assembly speaker candidate

SEOUL -- The main opposition Democratic Party (DP) on Tuesday selected five-term lawmaker Kim Jin-pyo as its candidate for the next National Assembly speaker in a general meeting of its lawmakers, party officials said.

Kim is expected to ultimately become the speaker, as it is customary for the largest party in terms of parliamentary seats to take the speaker position, with two vice speaker seats divided between the ruling and main opposition parties.

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Park Chan-wook's latest film 'Decision to Leave' sold to 192 countries

SEOUL -- Korean auteur Park Chan-wook's latest feature "Decision to Leave" has been sold to 192 countries across the world, its distributor said Tuesday.

Distributors, like Mubi, which theatrically releases films in North America, Britain, Turkey and India, Bac Films of France and Koch Films of Germany, purchased rights to distribute the movie competing for the Palme d'Or at the ongoing Cannes Film Festival, said CJ ENM.

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Wolves' Hwang Hee-chan driven by success of Golden Boot winner Son Heung-min

SEOUL -- There were two South Korean players in the Premier League in the just-concluded season. One, Son Heung-min of Tottenham Hotspur, had a banner campaign, becoming the first Asian player to win the Golden Boot as the scoring champion. The other, Hwang Hee-chan of Wolverhampton Wanderers, watched from afar as his longtime South Korean teammate made history.

And Hwang, 26, doesn't want to just admire Son's success. He wants to be like the man they call "Sonny."
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