Yonhap News Summary

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

■ (2nd LD) Seoul shares soar over 6 pct on revived AI optimism, SK hynix earnings

SEOUL -- Seoul shares surged by more than 6 percent Wednesday, led by a rally in chipmakers after SK hynix reported record quarterly earnings and announced additional shareholder returns. The Korean won weakened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 374.1 points, or 6.63 percent, to close at 6,012.44, after rising as high as 6,032.28.

■ Defense chiefs of S. Korea, U.S. hold talks on OPCON transfer, alliance

SEOUL -- The defense chiefs of South Korea and the United States met in the Philippines on Wednesday for talks likely centered on narrowing differences over the timing of the wartime operational control (OPCON) transition from Washington to Seoul, among other alliance issues.

The talks between Defense Minister Kang Shin-chul and U.S. Defense Secretary Pete Hegseth took place in Cebu, the venue for the ASEAN Defense Ministers' Meeting (ADMM) Plus, led by the Association of Southeast Asian Nations (ASEAN), according to Seoul's defense ministry.

■ Communications watchdog fines Google, Apple over in-app payment policies

SEOUL -- South Korea's broadcasting and telecommunications regulator said Wednesday it will impose a combined 63.7 billion won (US$45 million) worth of fines on Google and Apple for restricting app developers' payment options through their in-app policies.

The Korea Media and Communications Commission (KMCC) approved fines of 42.9 billion won for Google and 20.81 billion won for Apple for violating the Telecommunications Business Act over their app store payment policies.

■ (LEAD) Lee says nothing takes precedence over people's lives, safety

SEOUL -- President Lee Jae Myung urged maximum government efforts to prevent safety-related accidents Wednesday, saying nothing should take precedence over protecting people's lives and safety.

Lee made the remarks at the second plenary meeting of the presidential committee on life and safety as the Framework Act on Life and Safety is scheduled to take effect in December.

■ Births up 13 pct in Aug. to highest in 7 years

SEOUL -- The number of babies born in South Korea shot up 13 percent in August from a year earlier, marking the 26th consecutive month of increase, government data showed Wednesday.

A total of 23,703 babies were born in August, up from 20,983 a year earlier, according to the Ministry of Data and Statistics. It marked the highest figure for any August since the 24,371 posted in 2019.