LG to release 4G smartphone in Korea

LG Electronics Inc., the beleaguered world‘s No. 3 mobile-phone maker, said Tuesday that it will launch in South Korea a fourth-generation smartphone that will run on a faster network. The company will roll out this week the Optimus LTE smartphone through the leading mobile carrier SK Telecom Co. an

IndustryOct. 4, 2011

Korea-U.S. FTA to cause large reduction of farm production

SEOUL, Oct. 4 (Yonhap) -- The implementation of the signed free trade agreement (FTA) with the United States will likely cause billions of dollars in damages to South Korea's farming industry, a government report showed Tuesday.According to the report from the Ministry of Food, Agriculture, Forestry

Oct. 4, 2011

LG to release 4G smartphone in S. Korea

SEOUL (Yonhap) -- LG Electronics Inc., the beleaguered world's No. 3 mobile-phone maker, said Tuesday that it will launch in South Korea a fourth-generation (4G) smartphone that will run on a faster network. The company will roll out this week the Optimus LTE smartphone through the leading mobile ca

TechnologyOct. 4, 2011

S. Korea's consumer prices grow 4.3 pct in Sept.

SEOUL, Oct. 4 (Yonhap) -- South Korea's consumer prices grew at a slower pace in September than a month earlier, but they still remained above the government's annual inflation target mainly due to high food and oil prices, a report showed Tuesday. According to the report by Statistics Korea, the co

Oct. 4, 2011

Obama sends FTAs to Congress before S. Korean leader's trip

WASHINGTON, Oct. 3 (Yonhap) -- In a long-awaited move, U.S. President Barack Obama on Monday sent free trade agreements (FTAs) with South Korea, Colombia and Panama to Congress, pressing lawmakers to pass them promptly. Obama's action raises hopes that the ratification process will be completed

Oct. 4, 2011

Korea to boost foreign exchange stabilization bond issuance limit

South Korea is set to issue more foreign exchange stabilization bonds next year, the Finance Ministry said Monday, a move that comes amid worries the ongoing financial market turmoil will likely be sustained for the time being.The government plans to set the limit for foreign currency-denominated fo

Oct. 3, 2011

BMW to recall 380 cars for faulty wiring

BMW is recalling over 380 of its X5 and X6 sport utility vehicles sold in South Korea for faulty wiring that could cause a fire, the Transportation Ministry said Thursday.The wiring to the fuel-filter heater, when damp, could electrically overload the heater even when the engine is turned off, causi

Oct. 3, 2011

Some exercises yield more damage than progress

KANSAS CITY, Missouri ― Maybe the biggest barrier to working out is time. Barrier, challenge, excuse?So fitness trainers hate to see anyone frittering away precious workout periods or filling them with less-than-effective exercises. Actually, it makes them crazy.We asked a few trainers to point out

TechnologyOct. 3, 2011

Airport finds banned items on 800 travelers

Cases of airline passengers possessing goods banned in-flight, including weapons, numbered nearly 800 at South Korea’s major international airport over the past three years, a lawmaker said on Thursday.Authorities detected 795 instances in which passengers possessed such items ranging from lethal we

IndustryOct. 3, 2011

‘U.S. beef imports rise sixfold in four years’

South Korean imports of U.S. beef increased sixfold over the past four years, raising alarms for the domestic livestock industry, a lawmaker said Sunday.The volume of U.S. beef imports rose from 14,112 tons in 2007 to 84,821 tons last year, according to Rep. Kwon Kyung-seok of the ruling Grand Natio

MobilityOct. 3, 2011

‘Cars, refineries to see export boom in Q4’

South Korea’s automobile and oil refining industries are expected to enjoy a boom in exports in the fourth quarter of this year, underpinned by growing overseas demand, a report said Monday.The country’s construction and steel industries, however, have a grimmer fourth-quarter outlook due to a slump

IndustryOct. 3, 2011

Korea recoups 60.6% of bailout funds

South Korea has recouped 60.6 percent of the public funds it injected to bail out troubled financial firms during the 1997-98 Asian financial crisis, the financial watchdog said Friday.The country had retrieved 102.2 trillion won ($87.2 billion) of a total of 168.6 trillion won in public funds as of

Oct. 3, 2011

Asset managers’ Q1 net falls 8.3%

Total earnings by asset management firms in South Korea declined 8.3 percent in the first quarter of 2011 from a year earlier on money flight from mutual funds, the financial watchdog said Thursday.The combined net profits of 81 local and foreign asset managers came to 99.5 billion won ($84.3 millio

Oct. 3, 2011

199 Koreans hold more than W5b in overseas accounts

A total of 199 private and corporate deposit holders in South Korea each have more than 5 billion won ($4 million) in their overseas financial accounts, data showed Monday.There were 199 cases reported for overseas financial accounts worth more than 5 billion won in June, with the reported amount to

Oct. 3, 2011

BOK won’t change key rate: investment banks

Foreign investment banks see that the Bank of Korea is unlikely to change the benchmark interest rate by the second quarter of next year. According to the new projection data, Barclays Capital, Citibank and Morgan Stanley projected that the central bank will keep steady the interest rate at 3.25 per

Oct. 3, 2011

Korean banks set for record Q3 profits

Bigger margins, troubles at savings banks a boon for major banksKorean banks are expected to post a record profit in the third quarter of this year, helped by wider margins as lenders hiked loan rates but lowered deposit rates. Margin in the banking sector refers to the percentage added to a market

Oct. 3, 2011