Yonhap News Summary

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

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S&P upgrades ratings on Hyundai Motor, Kia Motors

SEOUL -- Standard & Poor's said Friday that it has upgraded credit ratings on Hyundai Motor Co. and Kia Motors Corp. by one notch, citing its confidence that the two automakers will maintain their global market positions and profitability.

S&P raised credit ratings on Hyundai Motor and Kia Motors from BB+ to A-, while also upgrading the rating on Hyundai Mobis Co., their auto parts making affiliate by one notch to A-. This is the first time that the three companies have received an A-level mark from a major global appraiser.

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N. Korea unready for 'serious' nuke talks: U.S. envoy

BEIJING -- North Korea may not be ready to hold "serious and productive" discussions with countries involved in the long-stalled talks on its nuclear programs, a top U.S. diplomat said Friday.

Ambassador Sung Kim, the U.S. special representative for North Korea policy, met with his Chinese counterpart Wu Dawei in Beijing to discuss a range of issues including North Korea. Earlier this week, Kim had held trilateral talks with his South Korean and Japanese counterparts in Tokyo.

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(LEAD) Seoul, Washington hold talks on N.K. nukes

SEOUL -- South Korea and the United States held talks in Seoul on Friday to discuss North Korea's nuclear program and other global security issues, the foreign ministry said.

Shin Dong-ik, Seoul's deputy minister for multilateral and global affairs, met with Rose Gottemoeller, U.S. undersecretary of state for arms control and international security, to discuss disarmament and nuclear nonproliferation issues, it said.

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(3rd LD) KT suffers widened loss in 2014 on increased costs

SEOUL -- South Korea's No. 2 telecom giant KT Corp. said Friday its loss widened last year from a year earlier due mainly to its one-off cost in compensating voluntary retirees.

Net loss reached 966 billion won (US$883 million) last year, sharply increasing from the loss of 60.2 billion won a year earlier, the company said in a regulatory filing.

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(LEAD) S. Korean sports officials meet over Park Tae-hwan's impending doping hearing

SEOUL -- A team of South Korean sports officials met on Friday to discuss preparations for an upcoming doping hearing for Park Tae-hwan, a beleaguered swimmer who recently tested positive for testosterone.

Representatives from the Korean Olympic Committee (KOC), the Korea Swimming Federation (KSF) and from Park's agency, Team GMP, met for a little over an hour behind closed doors on Friday in Seoul.

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(LEAD) Ruling party lawmaker gets jail term for bribery

SEOUL -- A ruling party lawmaker received a jail sentence Friday for taking bribes from a railway parts supplier in exchange for business favors.

The Seoul Central District Court handed down a four-year jail term and a fine of 70 million won (US$64,060) to Rep. Song Kwang-ho of the Saenuri Party and ordered him to pay 65 million won in restitution for the crime.

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(LEAD) (Asian Cup) S. Korea coach says composure will be key in final vs. Australia

SYDNEY -- With his South Korean team set to take on host Australia in the AFC Asian Cup final on the weekend, coach Uli Stielike said Friday that composure will be the key to success.

"Our team has a lot of young and inexperienced players," Stielike said at the pre-match press conference on the eve of the final at Stadium Australia. "It's important for us to play with composure before 80,000 fans."
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