Yonhap News Summary

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

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N. Korean leader executes about 100 officials: think tank

SEOUL -- North Korean leader Kim Jong-un has executed around 100 party and military officials since he took office in late 2011 in a bid to tighten his grip on power, a Seoul think tank said Wednesday.

But a number of North Korean power elites are disenchanted with the leader's so-called reign of terror, according to the Institute for National Security Strategy, a think tank under South Korea's spy agency.

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(2nd LD) Gov't to streamline public sector to improve efficiency, competitiveness

SEOUL/SEJONG -- South Korea will aggressively streamline the public sector to improve efficiency and build up competitiveness, the country's top economic czar said Wednesday.

In a meeting with the heads of the country's state-owned enterprises (SOEs) and public agencies, Finance Minister Choi Kyung-hwan said the central government plans to scrutinize the energy, environment and education sectors starting next month.

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(2nd LD) New S. Korea-U.S. nuclear accord takes effect

SEOUL -- A revised nuclear pact between South Korea and the United States came into effect Wednesday, which the Foreign Ministry described as another "pillar" of their alliance.

Foreign Minister Yun Byung-se exchanged a related diplomatic document with U.S. Ambassador to South Korea Mark Lippert in a ceremony held at the ministry building.

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(LEAD) S. Korean banks' capital ratio inches down in Q3

SEOUL -- South Korean banks saw their financial health worsen slightly in the third quarter of this year from three months earlier due to a rise in risky assets, the financial watchdog said Wednesday.

The average capital adequacy ratio (CAR) of 18 commercial and state-run banks stood at 13.96 percent as of end-September, down 0.13 percentage points from the previous quarter, according to the Financial Supervisory Service (FSS).

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Sovereignty should be respected in Japan's exercise of self-defense right: Scaparrotti

SEOUL -- Sovereignty and international norms should be recognized if Japan attempts to exercise its right to collective self-defense on the Korean Peninsula, United States Forces Korea (USFK) commander Gen. Curtis Scaparrotti said Wednesday.

The remarks are seen as support for South Korea's position that Japan needs to gain approval from Seoul before sending any military forces to the peninsula. With the collective self-defense right restored earlier this year, Japan can now fight in foreign territories alongside its allies.

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Expedia seeks to expand presence in S. Korea

SEOUL -- Expedia, the world's largest online travel agency, said Wednesday it will push to upgrade its flight-booking service in South Korea to provide more comprehensive service packages combining hotel, flights and other activities.

Expedia launched its Korean operation in 2011 after forming a joint venture with Air Asia, Asia's largest low-cost airline based in Malaysia.

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Samsung's VR device sold out in one day

SEOUL -- South Korean tech giant Samsung Electronics Co. said Wednesday its virtual reality (VR) device sold out in one day after the debut on its home turf with its relatively cheap price wooing customers.

The initial number of 2,000 Samsung Gear VR devices has been sold out, it said.
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