Hyundai Heavy Industries Co. has delivered its 1,700th vessel, becoming the world’s first shipyard to pass the milestone figure, the firm announced Monday.The shipyard’s 1,700th vessel, a car carrier capable of loading 8,100 vehicles, was delivered to the Seoul-based EUKOR Car Carriers Inc. EUKOR Car Carriers is one of the world’s largest shipping firms specializing in automobile transportation, a

IndustryJan. 31, 2011

  Plunging prices of dynamic random access memory (DRAM) chips, a key component in personal computers, have hit the bottom line and will rebound soon, senior officials from Samsung Electronics Co. and Hynix Semiconductor Inc. said Monday.   The remarks from Kwon Oh-hyun, president of Samsung's semiconductor division, and Kwon Oh-chul, Hynix's chief executive officer, come after DRAM devices for PC

TechnologyJan. 31, 2011

  South Korean stocks ended 1.81 percent lower on Monday as foreigners dumped shares amid growing concerns over political protests in Cairo, analysts said. The local currency lost ground against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) plunged 38.14 points to 2,069.73. Trading volume was moderate at 316.9 million shares worth 7.29 trillion won ($6.5 billion), with

Jan. 31, 2011

 Anti-government protests in Egypt will likely have a limited impact on South Korean financial companies in light of their minimal exposure to the North African country, the financial regulator said Monday.   As of the end of September, domestic financial companies owned no securities of or loans to Egypt and their borrowing from the country reached only US$6 million, the Financial Supervisory Ser

Jan. 31, 2011

  South Korea's anti-trust watchdog is investigating price-rigging allegations that Korean Air, the nation's flag carrier, colluded in fixing prices with a Mongolian airline company for flight services to the central Asian country, officials said Monday.   The investigation by the Fair Trade Commission (FTC) focuses on relatively expensive flight ticket prices between Incheon and Ulan Bator offere

IndustryJan. 31, 2011

  South Korea's industrial output grew for the 18th straight month in December, suggesting the economic recovery remains on track, a government report showed Monday.   According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 9.8 percent last month from the same month a year earlier. The output has expanded since July 2009.    Production grew 2.8 p

IndustryJan. 31, 2011

  The Obama administration will likely submit the pending free trade deal with South Korea to Congress in late March after undergoing a series of congressional hearings next month, reports said Sunday.   U.S. Trade Representative Ron Kirk is expected to appear at hearings at the House Ways and Means Committee and the Senate Finance Committee in mid-February to "pave the way for a mock markup of th

Jan. 31, 2011

  South Korean manufacturers' business confidence inched down for February on concerns that rising raw material prices could crimp their profitability, the central bank said Monday.   The index of manufacturers' outlook on business conditions reached 91 for February, down from 92 for January, according to the Bank of Korea (BOK). The index measures manufacturers' outlook on business conditions for

IndustryJan. 31, 2011

  South Korea's computer chip exports are expected to reach $52.5 billion in 2011, fueled by greater overseas demand for system semiconductors, the government said Monday.   The total represents a growth of 3.5 percent compared to the previous year, with outbound shipments of system semiconductors used to make products like smartphones and tablet PCs expanding 18.7 percent on-year to $19.1 billion

IndustryJan. 31, 2011

Consumer price hikes are showing no signs of let-up, two weeks after the government embarked on a sweeping campaign to fight inflation. Crop damage from extreme weather conditions combined with the country’s worst animal disease outbreak sent food prices to record high levels, hurting low-and middle-income households preparing for the Lunar New Year holiday this week.Pork prices jumped more than 2

Jan. 30, 2011

SAN FRANCISCO (AFP) ― From star-gazing iPad applications to crystal-encrusted iPhone cases, a universe of products spun off of Apple gadgets flourished at Macworld Expo despite the absence of the sun around which they revolve.Attendance was on track to hit 25,000 by the time the annual gathering of Apple faithful ends on Saturday.The crowd was down from the 40,000 to 50,000 people seen in years when Apple took part and chief executive Steve Jobs starred in presentations that included unveiling h

IndustryJan. 30, 2011