Apple stock tops $600 day before new iPad release

Apple Inc.'s stock touched $600 for the first time, the day before the company's latest iPad goes on sale.The stock reached $600.01 just after the market opened. It lost those gains and closed down $4.02, or 0.7 percent, at $585.56.Apple is the world's most valuable company, with a market capitaliza

TechnologyMarch 16, 2012

Government to get first shipment of direct sugar imports

The first shipment of sugar imported directly by the government will arrive in Korea next week that could help stabilize the commodity‘s price here, a state corporation said Friday.The Korea Agro-Fisheries & Food Trade Corp. said 2,000 tons of sugar imports will arrive at the southeastern port of Busan on Monday to be sold at low prices to processed food manufacturers such as confectionery companies and bakeries. The shipment is part of the 10,000 tons of sugar the government bought from Thailan

March 16, 2012

KEB CEO targets wealthy Koreans in U.S.

Bank also plans to open branches in South AmericaKorea Exchange Bank CEO Yun Yong-ro unveiled his global business strategy to focus on the private banking sector and attract wealthy Koreans residing in the U.S.“We are considering reentering the (retail banking) market in the western and eastern part

March 16, 2012

KPR opens social media research lab

Local public relations agency KPR said Thursday that it has set up a research center to study ways for companies to better communicate via social network services. The Social Communication Research Lab is aimed at conducting research activities regarding diverse social phenomenon related to social media and SNS, as well as communication tools using the new trend, the company said. KPR said that Kim Jong-rae, former IT journalist and online PR director at KPR, has been named the first head of the

IndustryMarch 15, 2012

Korea posts $1.5b trade surplus in Feb.

Korea’s trade balance shifted to the black in February from a deficit a month earlier thanks to sold export gains, a customs office report showed Thursday.According to the report by the Korea Customs Service, South Korea’s trade surplus amounted to $1.5 billion last month, compared with a shortfall of $2.2 billion in January.The monthly figure was smaller than a surplus of $2.2 billion projected by the Ministry of Knowledge Economy for February earlier this month.Exports soared 20.6 percent on-y

IndustryMarch 15, 2012

IT, carmakers to lead Q1 earnings scoreboard

LG set to swing to profit, Samsung expects record earnings as sector eyes 38% profit jumpKorea’s key IT companies are expected to post solid earnings for January-March this year, data showed Thursday. The most striking feature in the current quarter is that LG Electronics is set to swing to profit, restoring confidence among investors following a dismal performance last year, according to the stock information company FnGuide. Samsung Electronics, Asia’s biggest technology company, is also saili

March 15, 2012

Financial asset growth slows sharply in 2011: BOK

Korea’s financial asset size increased at a much slower pace in 2011 due to sluggish economic growth, the central bank said Thursday.The Bank of Korea said the country’s financial asset value stood at 10,894.4 trillion won ($9.65 trillion) as of the end of December, up 5.5 percent or 565.8 trillion won from a year earlier. The growth rate is the lowest reached since 2003.“The drop can be attributed to the country’s weak growth rate that fell to 3.8 percent last year from 6.2 percent reached in 2

March 15, 2012

Shares take a breather at seven-month high

Korean stocks ended almost flat on Thursday as investors took to the sidelines after the key index hit a seven-month high in the previous session. The local currency fell against the U.S. dollar.After swerving in and out of positive terrain, the benchmark Korea Composite Stock Price Index slipped 1.32 points, or 0.06 percent, to close at 2,043.76. Trading volume was moderate at 470 million shares worth 5.91 trillion won ($5.24 billion), with decliners outnumbering gainers 499 to 327.“There are s

March 15, 2012

85 local governments designate smoke-free zones

Watch out smokers: 85 local district offices have banned smoking on boulevards and at other public spots. According to the Ministry of Health and Welfare, 10 metropolitan or provincial governments and 75 district offices have designated communal parks, playgrounds, bus stops, beaches and boulevards as no-smoking zones as of Feb. 29. People who do not abide by the rules will be fined up to 100,000 won per case, the authorities said. The 10 metropolitan or provincial governments are Seoul, Busan,

TechnologyMarch 15, 2012

Samsung Hospital to open on Saturdays for checkups

Samsung Seoul Hospital said it will open on Saturdays for health checkups, allowing wider access for people who cannot spare time during weekdays. “Previously, people had to wait for about a couple of months in order to receive checkups after a reservation. But the Saturday openings will reduce the wait time dramatically,” the hospital said in a press release. “More companies are asking for checkups on their workers. They could surely use their Saturdays for checkups. It also allows people livin

TechnologyMarch 15, 2012

EWUH signs patient referral pact with Vietnam

Ewha Womans University Hospital has signed a memorandum of understanding with the Vietnamese Embassy in Seoul on Wednesday to ensure that the patients referred from the Vietnamese government receive ample treatment at the hospital. At the signing of the contract were Kim Kwang-ho, head of the hospital, and Tran Trong Toan, the Vietnamese ambassador to Korea. The pact is expected to facilitate human resources exchange between the medical facilities in Vietnam and at EWUH. “I was impressed that th

TechnologyMarch 15, 2012