(2nd LD) Industry minister says U.S. likely to announce new Section 301 probe by end-Aug.

U.S. Trade Representative says South Korea is likely to face new tariffs by the end of August, according to South Korea's industry minister Kim Jung-kwan. The ministry is investigating alleged overproduction under Section 301 of the Trade Act, and any resulting tariffs would remain within the 15 percent limit set by the Seoul-Washington agreement. Kim also opposes bonus schemes that do not require board approval and calls for changes to shareholders' rights.