U.S. runs $1.3 trillion budget deficit in 2011

WASHINGTON (AP) ― The government ran a $1.3 trillion deficit for the budget year that ended last month, the third straight year it has operated more than $1 trillion in the red.The 2011 budget deficit was the second highest on record. It’s slightly ahead of the previous budget year’s $1.29 trillion

Oct. 16, 2011

G20 considers boosting IMF role in eurozone

World’s leading economies ask IMF to draw up ways to help stem eurozone crisis as Italy, Spain strugglePARIS (AP) ― The finance chiefs of the world’s leading economies opened the door Saturday for the International Monetary Fund to play a bigger role in fighting the eurozone’s escalating debt troubl

Oct. 16, 2011

Samsung-Apple war enters new phase

Samsung is likely to have turnaround opportunity in long term: sourcesWhile the debate surrounding the global patent war staged by Samsung Electronics and Apple Inc. is garnering wide attention, industry watchers say Samsung has a good chance of creating a turnaround even after its three defeats aga

IndustryOct. 16, 2011

Korea to toughen rules on dog registration in 2013

Dog owners residing in South Korea will be required by law to register their pets, officials said Sunday, as the government is set to expand its mandatory pet registration rule nationwide starting in 2013. The push to widen the obligatory registration of companion dogs comes as the number of abandon

Oct. 16, 2011

iPhone’s Siri voice command to reach Korean users next year

Apple Inc. is expected to offer a Korean-language version of its Siri voice command feature starting in 2012, the U.S.-based technology giant said Saturday.The company said on its website that it will begin offering Siri services in Korean, Japanese, Chinese, Italian and Spanish starting next year,

TechnologyOct. 16, 2011

G-20 finance ministers seek joint effort to handle financial crisis

PARIS, Oct. 15 (Yonhap) -- Finance ministers from the world's leading industrialized and emerging economies plan to outline ways to tackle the current global financial crisis that is vital for economic growth, government sources said Saturday.Official sources said the communique to be released at th

Oct. 15, 2011

With Netherlands ruling, Samsung's patent offensive against Apple hits snag

SEOUL, Oct. 15 (Yonhap) -- Samsung Electronics Co.'s patent offensive against its rival Apple Inc. hit a snag after a Dutch court on Friday (Korea time) rejected the Korean firm's injunction to ban sales of the U.S. company's iPhones and iPads.The ruling by the district court in the Hague may pose p

IndustryOct. 15, 2011

Dutch court rejects Samsung's injunction claim against Apple

BRUSSELS, Oct. 14 (Yonhap) -- A Dutch court on Thursday denied an injunction request filed by Samsung Electronics Co. to ban its rival Apple Inc. from selling iPhones and iPad tablets in the Netherlands.The district court in the Hague rejected Samsung's claims that Apple infringed on its 3G mobile t

IndustryOct. 15, 2011

Institutional buying lifts shares 0.67%

South Korean shares finished 0.67 percent higher Friday as institutional investors including the National Pension Fund snapped up shares despite persisting eurozone worries, analysts said. The local currency edged down against the U.S. dollar.Reversing earlier losses, the benchmark Korea Composite S

Oct. 14, 2011

Telephone monitoring decreases

The Korea Communications Commission announced Friday that the total number of interceptions of telephone calls and online messages by government agencies dropped more than 20 percent in the first six months of 2011 compared to last year, but interceptions by military authorities more than tripled.Ac

Oct. 14, 2011

Government vows war on ‘fake’ gasoline

The government declared an all-out war on “fake” gasoline on Friday, significantly increasing fines for people selling unauthorized products and giving investigative jurisdiction to government officials.The crackdown starts with changing the commonly used name for such fuel, mostly chemical mixtures

Oct. 14, 2011

LG Electronics wins tech-related awards

LG Electronics said Friday it received two different awards for technology standardization and marketing skills.As part of the World Standards Day 2011, the company was granted the presidential award from the Korean Standards Association for contributing to technology standardization, according to L

IndustryOct. 14, 2011

Bidding for savings banks begins

Financial authorities Friday began the process of selling six savings banks suspended from business since mid-September due to poor financial health, in the hope of finding buyers by the end of December.State-run Korea Deposit Insurance Corp. made a public notice for the sale of the debt-saddled ban

Oct. 14, 2011

Apple scoffs at Samsung’s mobile patent infringement claim

SEOUL (Yonhap) -- A lawyer for Apple Inc. said Friday that Samsung Electronics Co.’s mobile patent lacks novelty and was not invented by the Korean firm, the iPhone maker’s latest attempt to counter the accusation that it is using its rival’s technology without permission. The latest court showdown

TechnologyOct. 14, 2011