Yonhap News Summary

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

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(LEAD) IDB to work closely with new China-led infrastructure bank: official

BUSAN -- The Inter-American Development Bank (IDB) can work closely with a China-led infrastructure bank in many areas to support regional development, the head of the Washington-based institution said Friday.

In a meeting with reporters, Luis Alberto Moreno said that while the Asian Infrastructure Investment Bank (AIIB) will most likely concentrate on meeting Asian requirements, it can still share information and know-how on investments to ensure success.

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(LEAD) Beijing welcomes S. Korea's decision to join China-led bank

BEIJING -- China on Friday welcomed South Korea's decision to join a Chinese-led development bank to fund infrastructure projects in Asia, widely viewed as a potential counterbalance to U.S.-led multilateral lenders such as the Asian Development Bank.

South Korea announced its decision on Thursday, becoming the latest U.S. ally to join the Asian Infrastructure Investment Bank (AIIB), despite U.S. concerns about the bank's governance structure and decision-making process.

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(2nd LD) S. Korean, U.S. JCS chiefs discuss MD against N.K. threats

SEOUL -- The top military officer of the United States said Friday he had "productive" conversations with South Korean military leaders on their progress in building an integrated air and missile-defense system to deter North Korea's evolving security threats.

U.S. Joint Chiefs of Staff (JCS) Chairman Martin Dempsey, who arrived here in Seoul a day earlier for a three-day visit, held 90-minute talks with his South Korean counterpart Adm. Choi Yun-hee before meeting with Defense Minister Han Min-koo.

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(LEAD) Suspended swimmer Park Tae-hwan apologizes for doping

SEOUL -- Disgraced South Korean Olympic swimming champion Park Tae-hwan on Friday apologized to the public for his recent doping scandal, saying he was ashamed of himself for letting down so many people.

Park held a press conference at a Seoul hotel, his first public appearance since FINA, the international swimming federation, handed down an 18-month suspension Monday after he'd tested positive for testosterone, a substance banned by the World Anti-Doping Agency (WADA).

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(LEAD) Seoul shares slip 0.14 pct on Yemen risks

SEOUL -- South Korean stocks closed marginally lower Friday as foreigners shunned risky assets on growing geographical tension in the Middle East feared to stir problems with the crude oil supply, analysts said. The local currency rose against the U.S. dollar.

The Korea Composite Stock Price Index (KOSPI) lost 2.76 points, or 0.14 percent, to close at 2,019.80. Trading volume was moderate at 442.6 million shares worth 5.04 trillion won (US$4.56 billion) with decliners outstripping gainers 445 to 368.

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(LEAD) NS Shopping fizzles out in Seoul market debut

SEOUL -- Shares of NS Shopping Co., a South Korean home shopping mall that specializes in food, gave back most of its opening gains in its Seoul market debut on Friday as investors remained cautious over its business outlook.

The shares, which drew attention as the country's largest initial public offering (IPO) this year, opened trade at 221,500 won (US$200.42), below the top of its marketed range at 235,000 won. They jumped as much as 11.82 percent but shed their earlier gains to close at 215,500 won, up 1.89 percent from the initial price. The benchmark KOSPI slid 0.14 percent.
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