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7am News June 22, 2016 



North Korea has fired off what appears to be a mid-range ballistic missile. According to Seoul's Joint Chiefs of Staff, the missile was launched early this morning at around 5:58 AM near the eastern city of Wonsan. It's presumed to have been a Musudan missile that has a range of 3,000 kilometers. The JCS believes the launch ended in failure, similar to the previous four test-launches carried out by the Pyongyang. The South Korean military had been closely watching the North after reports yesterday that it deployed a missile launcher to its east coast.■

U.S. President Barack Obama has notified Congress of the continuation of North Korea's designation as a national emergency. The designation serves as the basis for a series of executive orders calling for sanctions on Pyongyang for its provocations. In a letter to Congress, Obama said the North continues to constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States. Previous measures were implemented to punish the North for sinking the South Korean warship Cheonan, the cyber-attack on Sony Pictures, and for its nuclear test earlier this year.■

The government is set to open ministerial-level talks on follow-up measures for the now-defunct plan to build a new international airport in the country's southeastern region. Yesterday, the transport ministry announed the plan to build a new international airport in either Milyang or Gadeok Island would be scrapped, following a a year-long feasibility study by the transport ministry and French airport engineering company ADPi. Prime Minister Hwang Kyo-ahn will chair this morning's meeting in order to review administrative procedures to expand the existing Gimhae International Airport in Busan.■

Global stocks mostly rose Tuesday adding to prior gains on continued momentum from expectations that Britain is more likely to stay in the European Union. The latest poll by Survation gave the "Remain" vote 45 percent and "Leave" 44 percent, with 11 percent undecided. On Wall Street, the Dow was up 0.1 percent, the S&P 500 gained 0.3 percent, while the tech-rich Nasdaq droped 0.1 percent. Over in Europe, London's benchmark FTSE rose 0.4 percent, Frankfurt's DAX grew 0.5 percent, shares in Paris won 0.6 percent. ■

European Commission President Jean-Claude Juncker has warned Britain that voting to leave the EU on Thursday would be an act of self-harm. Speaking to Greek business leaders in Athens on Tuesday, he said a Brexit would endanger everything Europeans had worked together to achieve. In an impassioned appeal to remain with the 28-member bloc, he added the EU wouldn't have been able to achieve peace, freedom, and prosperity without help from the British people. Last month, Juncker warned that deserters would not be welcomed with open arms.■

Taking a look at the weather, Seoul and its surrounding areas are waking up to mostly cloudy skies on this Wednesday morning. Expect similar conditions to persist throughout the day, with rain in store nationwide this afternoon. Temperatures will hover in the high 20s in most parts. The local daytime high will peak at around 30 degrees, 28 in Daejeon and 25 in Busan. As for the current reading in downtown Seoul, it is 24 degrees Celsius, or 75 degrees in Fahrenheit.■