South Korean shares are expected to move in a tight range next week as fiscal debt problems in Europe and the United States will continue to weigh on investor sentiment, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 1,776.40, down 3.3 percent from last week. This w

Nov. 26, 2011

Ministries are in talks on putting new sanctions on Iran for its nuclear development program, likely to include a ban on petrochemicals trade. The ministries of foreign affairs, finance, and commerce, and the Financial Supervisory Commission are reviewing the level of additional sanctions on Tehran, an official said Friday. South Korean Foreign Minister Kim Sung-hwan and U.S. Secretary of State Hillary Clinton are expected to discuss the sanctions when they meet in Busan on Wednesday. “Several g

Nov. 25, 2011

The government on Friday announced a 70 percent cut in the size of the Yellow Sea Free Economic Zone as it unveils measures to rejuvenate the region’s stagnant project to court foreign investment and boost local economy.Designated in 2008, the Yellow Sea FEZ is one of the country’s six tariff-free industrial areas but has been regarded as the most infeasible. Its five districts cover 55 square kilometers in Gyeonggi Province and South Chungcheong Province.Under the plan, the government said it h

Nov. 25, 2011

South Korean stocks closed 1.04 percent lower on Friday as persistent concerns over the eurozone debt crisis and fears over credit downgrades spooked investors, analysts said. The local currency dropped against the U.S. dollar.The benchmark Korea Composite Stock Price Index slumped 18.66 points to 1,776,4. Trading volume was moderate at 301.2 million shares worth 4.16 trillion won ($3.58 billion), with decliners outnumbering gainers 592 to 238.“The lackluster results of a summit between Germany,

Nov. 25, 2011

South Korea will expand preferential tariff benefits for poorly developed countries as part of its international commitment to helping developing economies and promote global balanced growth, the Finance Ministry said Friday.The government will add 253 products from 48 poorly developed countries to the list of goods exempted from import duties starting next year, according to the ministry. It now offers such tax benefits to a total of 4,549 products.The move will raise the tax-free ratio for pro

Nov. 25, 2011

South Korea has already spent about 27 percent of its budget assigned to help farmers whose business might suffer due to the influx of cheaper produce from the U.S. under the recently approved free trade agreement (FTA) between the two nations, the Finance Ministry said Friday.The ruling Grand National Party here rammed the long-pending FTA through parliament on Tuesday against fierce objection by opposition lawmakers, who claim that it favors the U.S. The accord was signed in 2007 and was modif

Nov. 25, 2011

Samsung Electronics Co. sold more than 300,000 units of smartphones running on long-term evolution networks, the high-speed wireless data service, in about one month of their debut, according to industry data released Friday. Since sales began on Oct. 27, Samsung’s Galaxy S2 LTE smartphone accounted for around half of South Korea’s burgeoning LTE phone market that is estimated at 600,000 units, according to data from South Korea’s three mobile operators. The data was gathered up until Nov. 22.Tw

TechnologyNov. 25, 2011

Facebook has allied with Taiwan's HTC to build a customized smartphone powered by Google's Android mobile operating system, according to technology blog All Things Digital.The project, code named "Buffy," is aimed at making a handset tailored for the California-based social networking platform, acco

TechnologyNov. 25, 2011

The Export-Import Bank of Korea (Eximbank) said Thursday it has raised around $200 million by floating Saudi riyal-denominated bonds for the first time in Asia.The bonds, worth 750 million Saudi riyal ($200 million), carry an interest rate 1.7 percentage points above the Saudi Arabia Interbank Offered Rate. The rate translates to 2.49 percentage points above the Libor, according to Eximbank.The bonds, which mature in five years, are the biggest riyal-denominated issuance since 1 billion won was

Nov. 24, 2011

FUKUSHIMA, Japan (AP) -- Even if the worst nuclear accident in 25 years leads to many people developing cancer, we may never find out.Looking back on those early days of radiation horror, that may sound implausible.But the ordinary rate of cancer is so high, and our understanding of the effects of radiation exposure so limited, that any increase in cases from the Fukushima nuclear plant disaster may be undetectable.Several experts inside and outside Japan told the Associated Press that cancers c

TechnologyNov. 24, 2011

ORLANDO, Florida (AP) -- Your blood type might affect your risk of stroke. People with AB and women with B were a little more likely to suffer one than people with O blood - the most common type, a study found.The research can’t prove such a link. But it fits with other work tying A, B and AB to more risk of blood clots in the legs and heart attacks. Blood type O also has been tied to an increased risk of bleeding, which implies less chance of clots, the cause of most strokes.“There’s increasing

TechnologyNov. 24, 2011

ORLANDO, Florida (AP) ― Your blood type might affect your risk of stroke. People with AB and women with B were a little more likely to suffer one than people with O blood - the most common type, a study found.The research can’t prove such a link. But it fits with other work tying A, B and AB to more risk of blood clots in the legs and heart attacks. Blood type O also has been tied to an increased risk of bleeding, which implies less chance of clots, the cause of most strokes.“There’s increasing

TechnologyNov. 24, 2011

Korea MSD released Implanon NTX, an implantable contraceptive for women. Implanon NXT is a radiopaque, non-biodegradable, progestagen-only, flexible implant preloaded in a sterile, disposable applicator. It contains 68 milligrams of etonogestrel and is effective for three years, According to the pharmaceutical, Implanon should be inserted just under the skin of the arm. It is removable and should be re-implanted when further contraceptive effect is needed. Those willing to be inserted with the d

TechnologyNov. 24, 2011

The Korea Food and Drug Administration on Wednesday disclosed the average nutritional value of some popular Korean restaurant dishes. According to its report on 130 foods, the highest in calories was “samgyetang” at 918 kcal in a serving of 1,000 grams of the chicken broth. It was followed by japchaebap, or fried rice with mixed vegetables and noodles, at 885 kcal; ganjjajang, or noodles served separately with black bean paste, at 825 kcal; jajangmyeon, noodles in black bean paste, at 797 kcal,

TechnologyNov. 24, 2011