Yonhap News Summary

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

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(LEAD) S. Korea reports 4th MERS case, 2 suspected cases

SEOUL/SEJONG -- South Korea confirmed a fourth case of the Middle East Respiratory Syndrome (MERS) Tuesday, while reporting an additional two suspected cases.

The fourth case of the viral disease was confirmed in a daughter of the third patient, according to the Korea Centers for Disease Control and Prevention (CDC).

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(5th LD) Two key Samsung units announce merger

SEOUL -- Cheil Industries Inc. and Samsung C&T Corp. -- two key affiliates of South Korea's top conglomerate, Samsung Group -- said Tuesday they are planning to merge by the end of August, the latest in a series of business portfolio reshuffles to speed up the group's leadership change.

The agreement, reached at their respective board meetings, comes amid Samsung's possible leadership shift from Lee Kun-hee, the de facto head of the group who has been hospitalized since May last year, to Lee Jay-yong, vice president of Samsung Electronics Co. and the only son of the tycoon.

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(2nd LD) China's defense paper warns of 'instability' on Korean Peninsula

BEIJING -- China warned Tuesday of "instability and uncertainty" on the Korean Peninsula as North Korea's unpredictable regime has claimed breakthroughs in its nuclear and missile capabilities.

"The Korean Peninsula and Northeast Asia are shrouded in instability and uncertainty," the State Council, the Cabinet of the communist-ruled nation, said in its latest defense policy paper.

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(LEAD) Liquidation looms large for handset maker Pantech

SEOUL -- Cash-strapped South Korea handset maker Pantech Co. said Tuesday it has asked a local court to end its receivership as no viable investors sought to take over the once No. 2 handset maker in the country.

Pantech, which was put under court protection August last year, has been on the selling block, but rounds of bids to sell the handset maker fell through due to lack of viable investors.

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Suspected arson attack at Samsung warehouse cost W28 bln

SEOUL/GIMPO -- A fire which broke out at a Samsung-owned warehouse west of Seoul and killed a security guard is estimated to have inflicted some 28 billion won (US$25.5 million) worth of damages, investigators said Tuesday.

The fire broke out early Monday at the facility owned by Cheil Industries Inc., a major Samsung Group affiliate whose business covers fashion, burning nearly half of the 62,518 square-meter warehouse.

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(LEAD) Seoul shares edge down on U.S. rate hike bets

SEOUL -- South Korean stocks ended 0.12 percent lower on Tuesday as investors took to the sidelines on rising speculations that the U.S. Federal Reserve is poised to raise interest rates this year, analysts said. The local currency dropped 1 percent against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 2.6 points to 2,143.5. Trading volume was moderate at 373.91 million shares worth 6.34 trillion won (US$5.76 billion), with losers outnumbering gainers 508 to 306.

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(LEAD) Police investigating basketball coach over match-fixing allegations

SEOUL -- Police said Tuesday they're investigating an active professional basketball coach over match-fixing allegations.

Seoul police said the coach, Chun Chang-jin of the Anyang KGC in the Korean Basketball League (KBL), allegedly bet against his own team and inserted bench players in the second half of games to ensure the team would lose.

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Doosan Bears agree to terms with minor leaguer Romero

SEOUL -- The South Korean baseball club Doosan Bears said Tuesday they've agreed to terms with a minor league infielder Deibinson Romero.

Romero, the 28-year-old from Dominican Republic, has been playing for the Pittsburgh Pirates' Triple-A affiliate in Indianapolis this year. The Bears said they need to go through some administrative formalities with the Pirates, including buying out Romero's contract, before the deal is finalized.
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