South Korea Addresses NATO Concerns, Celebrates Film Success, Tackles Domestic Issues, and Ensures Oil Stability

■ (LEAD) Seoul says cooperation with NATO aimed at global peace, seeks stable relations with Russia

SEOUL -- South Korea's proposed cooperation with the North Atlantic Treaty Organization (NATO) is aimed at enhancing their own respective contributions to global peace and stability, Seoul's foreign ministry said Tuesday, in its first response to recent concerns by Russia over what it described as growing military cooperation between Seoul and NATO.

"Cooperation between South Korea and NATO is aimed at strengthening each side's capabilities across various sectors, including defense industry, new technologies and cybersecurity, so as to reinforce each side's role and contribution to international peace and stability," the ministry told Yonhap News Agency in a written statement.

■ (LEAD) 3 Korean films invited to screen at Toronto film fest

SEOUL -- Three Korean films by directors Yeon Sang-ho, Lee Chang-dong and Hur Jin-ho have been invited to screen at this year's Toronto International Film Festival (TIFF), the festival's organizers said Tuesday.

Yeon's "Paradise Lost" and Lee's "Possible Love" will have their world premiere and North American premiere, respectively, in the Special Presentations section at the 51st edition of the prestigious festival, set for Sept. 10-20, according to the organizers.

■ FSS chief pledges swift, transparent disciplinary process against MBK over Homeplus management

SEOUL -- The chief of South Korea's financial watchdog Tuesday vowed to conduct a transparent and swift disciplinary process against MBK Partners over its management of Homeplus Co., the struggling retailer wholly owned by the private equity firm.

"We are currently conducting disciplinary proceedings following an on-site inspection of MBK to investigate alleged violations of the Capital Markets Act," said Lee Chan-jin, governor of the Financial Supervisory Service (FSS), during a parliamentary session.

■ Rival parties agree to pass special counsel bill to investigate ballot shortages

SEOUL -- Rival political parties agreed Tuesday to pass a special counsel bill to look into ballot shortages reported during the June 3 elections within this month.

The agreement was reached during a meeting between ruling Democratic Party (DP) floor leader Han Byung-do and his main opposition People Power Party (PPP) counterpart, Jeong Jeom-sig.

■ S. Korea's crude oil supply stable despite uncertainties: industry ministry

SEOUL -- South Korea's crude oil supply remains stable despite renewed tensions in the Middle East, the industry ministry said Tuesday, vowing to closely monitor major shipping routes in the region.

"South Korea has already secured crude oil equivalent to 110 percent of last year's levels for July and August, while the figure for September stands at 90 percent," the Ministry of Trade, Industry and Resources said in a release.