Yonhap News Summary

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

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(2nd LD) Seoul welcomes Abe's offer to visit during Winter Olympics

SEOUL -- The presidential office Cheong Wa Dae on Wednesday welcomed Japanese Prime Minister Shinzo Abe's offer to visit South Korea, possibly to attend the opening ceremony of the PyeongChang Winter Olympic Games.

"The government welcomes Japan's official notification of Prime Minister Shinzo Abe's trip to South Korea," Cheong Wa Dae spokesman Park Soo-hyun told a press briefing.

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(LEAD) Now is the 'best time' for N.K. to come out for talks with U.S.: Seoul official

SEOUL -- Now is the "best time" for North Korea to hold dialogue with the United States on its nuclear and missile programs, a high-ranking South Korean diplomatic official said Wednesday, adding that the Seoul government does not oppose their bilateral talks.

"Now is the best time, as the U.S. opens its door for talks," the official told a group of reporters, on condition of anonymity. "The U.S. could close the door shut anytime. It is important for the North to stop provocations and come out for talks."

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S. Korean athletes for PyeongChang 2018 hold team launch ceremony

SEOUL -- Athletes competing for host South Korea at the 2018 PyeongChang Winter Olympics gathered Wednesday for their team launch ceremony.

Some 150 athletes from seven sports and 15 disciplines, including speed skating, ice hockey, curling, alpine skiing, biathlon and bobsleigh, were on hand for the occasion.

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(LEAD) Seoul stocks end higher on institutional buying

SEOUL -- South Korean shares ended higher Wednesday as institutions remained net buyers. The won remained flat against the dollar.

The benchmark Korea Composite Stock Price Index rose 1.40 points, or 0.06 percent, to 2,538.00.

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(2nd LD) Chung Hyeon becomes 1st S. Korean Grand Slam semifinalist at Australian Open

SEOUL -- Chung Hyeon became the first South Korean tennis player to reach a semifinals at a Grand Slam event Wednesday, as he continued his historic run at the Australian Open.

Chung beat Tennys Sandgren of the United States 3-0 (6-4, 7-6 (7-5), 6-3) in the quarterfinals match at Rod Laver Arena in Melbourne. He will next face the winner between Roger Federer and Tomas Berdych in the semis on Friday.

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(LEAD) Shinsegae buys furniture company for US$172 mln

SEOUL -- South Korean retail giant Shinsegae said it purchased a local furniture company for 183.7 billion won (US$172 million) on Wednesday as it attempts to tap into the country's home furnishing industry.

Shinsegae Department Store signed a contract with Casamia Co.'s founder and his family members to buy a 92.4 percent stake in the company, the retailer said in a regulatory filing.

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POSCO 2017 net nearly doubled on equity gains

SEOUL -- POSCO, the world's fifth-biggest steelmaker by output, said Wednesday its net profit more than doubled in 2017 from a year earlier on equity gains from affiliates.

For the whole of 2017, net profit soared to 2.974 trillion won (US$2.78 billion) from 1.048 trillion won a year earlier, the company said in a statement.

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(Yonhap Feature) S. Koreans view N.K. participation in Olympics with mixed feelings

SEOUL -- Peace Olympics or Pyongyang Olympics? The different nicknames South Koreans are using for next month's PyeongChang Winter Olympics reflect their mixed feelings over North Korea's participation in the games, which has both raised hope of reconciliation on the divided peninsula and sparked outrage over what is seen as a disguised charm offensive meant to weaken the brunt of international sanctions.

During their recent rounds of talks, the two Koreas agreed to field a joint women's ice hockey team for the Olympics and march together under a "unified Korea" flag during the opening ceremony.

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