Yonhap News SummaryThe following is the first summary of major stories moved by Yonhap News Agency on Monday . ----------------- S . Korea to spend extra budget to create more jobs for young people SEJONG -- South Korea will make use of an extra budget as soon as possible to create new jobs for young people and help industrial regions grappling with massive layoffs , the finance ministry said Monday . With the National Assembly having passed the 3 . 83 trillion won ( US $ 3 . 54 billion ) supplementary budget , the ministry will hold a meeting later in the day to approve a budget implementation plan . ----------------- Gov ' t softens rule to help banks make inroads into foreign markets SEOUL -- The government has eased a key rule to help local banks make inroads into foreign markets under a revised ordinance on Monday , the Financial Services Commission ( FSC ) said . Under the change , a bank will only be required to report the establishment of an overseas branch to authorities after the branch is set up , the FSC said in a statement . -----------------( 2 nd LD ) Parliament OKs bills on extra budget , special counsel probe SEOUL -- South Korea ' s parliament on Monday passed a 3 . 83 trillion won ( US $ 3 . 54 billion ) extra budget bill and a proposal to appoint a special prosecutor to investigate an online opinion rigging scandal involving a former ruling party lawmaker . The passage came after the rival parties reached a compromise to break the long - running parliamentary impasse last week . Under the deal , the ruling Democratic Party agreed to an independent counsel probe into the scandal while the main opposition Liberty Korea Party agreed to pass the supplementary budget . ----------------- Police chief vows thorough investigation of opinion rigging scandal SEOUL -- The police will continue to thoroughly investigate the opinion rigging scandal involving a former ruling party lawmaker , the country ' s police chief said Monday , hours after the parliament decided to appoint an independent counsel to look into the scandal . " The police are somewhat ashamed in that the investigation should have been ended by the police but will now lead to the appointment of a special counsel . We will continue on with the investigation until the launch of the special counsel , " National Police Agency Commissioner Lee Cheol - seong said in a meeting with reporters . -----------------( LEAD ) N . Korea stays mum on proposed list of S . Korean journalists to cover nuclear site shutdown SEOUL -- North Korea has not accepted South Korea ' s proposed list of journalists chosen to cover a ceremony for the dismantlement of a nuclear test site planned for this week , the unification ministry said Monday . The ministry has tried to convey the list of the reporters selected to cover the shutdown of the Punggye - ri nuclear site through the communication channel at the truce village of Panmunjom , but the North has not responded on the matter , according to ministry spokesman Baik Tae - hyun . ----------------- S . Korea lifts special travel advisory for two cities in Philippines ' Mindanao SEOUL -- South Korea ' s foreign ministry on Monday lifted a special travel advisory , which it issued for two cities in Mindanao in the southern Philippines a year ago , citing stable security conditions on the island . But the ministry said that it will maintain a travel alert level of " restraint " for Davao City and Cagayan de Oro City . The cities were put under the special travel advisory after martial law was invoked following a shootout between government forces and an Islamic State - inspired group . ----------------- African economic ministers , bank chiefs gather in Busan BUSAN -- Economy - related ministers from 35 African nations gathered in Busan on Monday to discuss ways to bolster the continent ' s industrialization and economic cooperation with South Korea and explore new business opportunities , the finance ministry said . The 53 rd annual meeting of the African Development Bank ( AfDB ) will run until Friday in thye southeastern port city under the theme of " Accelerating Africa ' s Industrialization , " the event ' s co - organizer said . The Busan meeting is the fifth to be held outside Africa . ----------------- BTS scoops up second Billboard Music Award for Top Social Artist SEOUL -- K - pop sensation BTS won a Billboard Music Award in the Top Social Artist category on Monday , dominating the fan - voted category for the second year in a row . The South Korean septet defeated four competing singers including Justin Bieber and Ariana Grande to grab the award at the 2018 Billboard Music Awards ( BBMAs ) at the MGM Grand Garden Arena in Las Vegas on Sunday ( U . S . time ) . ----------------- GC Pharma sets up vaccine firm in U . S . SEOUL -- South Korean drug company GC Pharma set up a vaccine manufacturer , Curevo Inc . , in the United States toward the end of last year , industry sources reported for the first time Monday . The Seattle - based company , established in November 2017 , is aimed at supporting GC Pharma ' s vaccine development activities , they said . GC Pharma owned a 81 . 4 percent stake in Curevo as of the end of the first quarter . -------------( LEAD ) S . Korea ' s exports rise 14 . 8 pct in first 20 days of May SEJONG -- South Korea ' s exports rose 14 . 8 percent on - year during the first 20 days of May , thanks to brisk shipments of semiconductors and petrochemical goods , customs data showed Monday . The country ' s outbound shipments reached US $ 29 . 1 billion in the May 1 - 20 period , according to the data from the Korea Customs Service ( KCS ) . -----------------( LEAD ) S . Korean Chun In - gee loses in LPGA playoff SEOUL -- South Korea ' s Chun In - gee has lost her chance to end a 20 - month LPGA title drought in a playoff . Chun came up short at the weather - shortened Kingsmill Championship in a three - way playoff with Ariya Jutanugarn and Nasa Hataoka on River Course at Kingsmill Resort in Williamsburg , Virginia , on Sunday ( local time ) . Chun was the first to be eliminated from the sudden - death play with a par on the first playoff hole , where Jutanugarn and Hataoka both birdied . Chun dropped to 0 - 3 in her career in LPGA playoffs . ( END )