RF&P Corp. of Richmond said it is seeking modification of a Sept. 14 restructuring proposal made by the Virginia Retirement System and accepted by CSX Corp. RF&P said the modifications are designed to "maximize shareholder value" but did not disclose details.

National Micronetics of Kingston, N.Y., said the South Korean government has approved the purchase of 10.5 million shares of its common stock by Newmax Ltd., a Korean company, for $4.2 million.

Nationwide Health Properties, a California real estate investment trust owning 94 health-care facilities in 23 states, said it will take over operation temporarily of two 100-bed nursing homes in Ohio because their operator has not met its obligations. ACQUISITIONS

Mark IV Industries announced the acquisition of Vapor Corp. from Brunswick Corp. for $39.5 million. Vapor makes door systems for rail vehicles and buses. INTERNATIONAL

Japan's Finance Ministry proposed a 6.2 percent increase in overall spending for the fiscal year starting April 1, 1991. The ministry said the action was needed to meet the country's growing international responsibilities through increased overseas aid and public works outlays while continuing to lower the government's dependence on national bonds.

Nicaragua devalued its currency by 9 percent, bringing immediate price increases in gasoline, transport and basic products. CONTRACTS

Environmental and Safety Designs Inc.-Allen and Hoshall a joint venture, received a $100 million Navy contract for base pollution cleanup.

AT&T got an $83.5 million Navy contract for oceanographic services.

United Technologies was awarded $63.8 million in contracts for Air Force jet engines and Army helicopters.

Boeing received a $58.5 million Air Force contract for aircraft support.

General Dynamics received $51.9 million in contracts for Air Force aircraft software and Navy submarine services.