Yonhap News Summary

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

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■ S. Korea seeks to finalize agreement with U.S. on joint air base relocations by year-end

SEOUL -- South Korea is seeking to finalize a comprehensive agreement with the United States by the end of this year on plans to relocate jointly used air bases across the country, including the facilities in the southwestern city of Gwangju, a source familiar with the matter said Monday.

The move comes amid Seoul's push to relocate the shared air base and military airport in Gwangju under an initiative to build a mega semiconductor cluster in the city and the broader surrounding region.

https://en.yna.co.kr/view/AEN20261102010400315?section=search

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■ (2nd LD) POSCO Holdings Q3 net falls 1.8 pct on one-off losses

SEOUL -- POSCO Holdings Inc., South Korea's leading steelmaker, said Monday its third-quarter net profit fell 1.8 percent from a year earlier due to one-off losses.

Net profit for the three months that ended in September fell to 380 billion won (US$282.5 million) from 390 billion won in the same period last year, the company said in a regulatory filing.

https://en.yna.co.kr/view/AEN20261102006552320?section=search

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■ (LEAD) Daewoo E&C seeks gov't mediation in dispute over Czech nuclear project

SEOUL -- Daewoo Engineering & Construction (E&C) Co. said Monday it has asked the government to mediate a dispute with South Korea's state-run nuclear power operator over a major nuclear reactor project in the Czech Republic.

The company, which leads a construction consortium for the project, made the request to the Ministry of Trade, Industry and Resources after receiving formal notice Friday that Korea Hydro & Nuclear Power (KHNP) Co. had ended contract negotiations.

https://en.yna.co.kr/view/AEN20261102007251320?section=search

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■ S. Korean won sharply weakens against U.S. dollar

SEOUL -- The South Korean won sharply weakened against the U.S. dollar Monday, as institutional traders appeared to have locked in gains after the won's recent advance.

The won was quoted at 1,343.8 won per dollar at 3:30 p.m., down 9.5 won from the close of the previous stock trading session.

https://en.yna.co.kr/view/AEN20261102009800320?section=search

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■ (2nd LD) Seoul stocks rebound over 2 pct on bargain hunting

SEOUL -- Seoul stocks rebounded to end over 2 pct higher Monday as investors went bargain hunting for tech heavyweights despite concerns over artificial intelligence (AI) spending. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 128.34 points, or 2.24 percent, to 5,859.08 after rising as high as 5,910.83.

https://en.yna.co.kr/view/AEN20261102007652320?section=search
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