1. South Korea's new Defense Minister Shin Won-sik held phone talks with U.S. Secretary of Defense Lloyd Austin for the first time Friday. Seoul's defense ministry said the two discussed the allies' efforts to deter North Korea's nuclear and missile threats, as they are set to meet in Seoul next month for the annual Security Consultative Meeting.
2. The ruling People Power Party said Friday it will launch a task force to discuss policy measures to improve medical services, and support the government's commitment to increasing the enrollment quota of medical schools.
3. South Korean stocks traded 1.94 percent lower on Friday morning over concerns of the U.S. central bank's monetary tightening. The benchmark KOSPI shed 40.8 points to close at 2,375.
