South Korea's two mobile carriers -- SK Telecom Co. and KT Corp. -- said Friday they have begun taking preorders for Apple Inc.'s latest iPhone models that are expected to hit the local market later this month.South Korean customers can preorder the iPhone 5s and iPhone 5c on the operators' websites. Preorders for the newest iPhone line-up can also be made at the mobile carriers' local retail stores.The 16-gigabyte iPhone 5s is priced at 814,000 won ($767), with the comparable figure for the iPh

Technology Oct. 18, 2013

Ten financial firms including Shinhan Financial Group made the shortlist to acquire two smaller banks of state-invested Woori Finance Holdings Co., the financial watchdog said Friday. The Financial Services Commission (FSC) said that the committee on overseeing sales of public assets selected 10 bidders out of 11 candidates for the group's two smaller units -- Kwangju and Kyongnam -- after reviewing their proposals.Shinhan Financial, the country's No. 4 banking group, is seeking to buy Kwangju B

Oct. 18, 2013

North Korea will jointly build a hi-tech industrial park in its border city of Kaesong with a consortium of foreign firms from Singapore and other nations, according to the communist country's official media.The firms include Jurong Consultants and OKP Holdings of Singapore, P and T Architects and Engineers of Hong Kong and other "well-known" companies in East Asia and the Middle East, according to a brief dispatch released Thursday by the Korean Central News Agency (KCNA)."The consortium agreed

North Korea Oct. 18, 2013

State prosecutors said Friday they have questioned three agents of the state intelligence agency on suspicion of posting political comments on Twitter ahead of the last presidential election.The questioning is part of the prosecution's ongoing probe into a high-profile election meddling scandal allegedly involving the National Intelligence Service (NIS), they said.The spy agency has been probed over allegation that it launched an online smear campaign to sway public opinion in favor of President

Social Affairs Oct. 18, 2013

South Korea's central bank said Friday that household debt could become a potential risk factor for the economy as the rate of debt growth is continuing to outpace that of income.The Bank of Korea (BOK) said in a report for the annual parliamentary audit that it is unlikely household debt will sour massively in the short term and the growth rate of household debt has slowed on the back of the government's efforts to lessen indebtedness problems.However, the central bank warned that since househo

Oct. 18, 2013

A Japanese cabinet minister visited a controversial war shrine in Tokyo on Friday, in a move likely to cause anger in China and South Korea, which see it as a symbol of Japan's past militarism.Yoshitaka Shindo, minister for internal affairs and communications, paid homage at the Yasukuni shrine but insisted he was there as a private citizen, playing down the potential for diplomatic fallout as a result of a visit from a member of the government."I offered prayers in my private capacity. I mourne

World News Oct. 18, 2013

Samsung Engineering Co., one of South Korea's largest industrial plant builders, said Friday that it swung to a net loss in the third quarter due to massive losses in overseas projects.Net loss reached 525 billion won ($494 million) in the July-September period, compared with a net profit of 124 billion a year earlier, the Seoul-based company said in a regulatory filing.Sales dropped 32 percent on-year to reach 1.9 trillion won over the cited period. The builder also posted an operating loss of

Industry Oct. 18, 2013

South Korean stocks opened higher Friday as investors' sentiment got a boost from a breakthrough in the U.S. debt ceiling talks, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 2.84 points, or 0.14 percent, to 2,043.45 in the first 15 minutes of trading.Tech shares led the market gain, with market behemoth Samsung Electronics adding 0.41 percent and leading chipmaker SK hynix rising 1.33 percent. Flat panel maker LG Display gained 2.88 percent.Mobile carriers trade

Oct. 18, 2013

The South Korean military has formally asked the Pentagon to provide detailed information on Terminal High Altitude Area Defense (THAAD) systems, an informed source here privy to defense issues said Thursday.As part of efforts to bolster its missile defense against North Korea's threats, South Korea is apparently seeking to combine U.S.technologies with its own, added the source."South Korea recently requested additional information on THAAD as well as PAC-III from the Pentagon, including prices

Defense Oct. 18, 2013

The top security advisor to South Korean President Park Geun-hye plans to visit the United States next week for talks about the North Korean nuclear standoff and bilateral security issues, a news report and an official said Friday.Kim Jang-soo, the chief of the presidential national security office, plans to meet with the White House national security advisor, Susan Rice, and other senior foreign affairs and security officials during the trip, the Dong-a Ilbo newspaper reported.A presidential of

Defense Oct. 18, 2013

Samsung Electronics Co., the world's largest maker of smartphones, has offered not to lodge patent lawsuits over wireless technology for five years, European regulators said Thursday.Samsung's concession came as the European Commission has focused its probe on suspicions that Samsung abused its right to the so-called standard essential patents (SEPs) in pushing for lawsuits against its competitors.Since late last year, European regulators have looked into whether Samsung may have violated EU ant

Industry Oct. 18, 2013

A barrage of car bomb and suicide bomb blasts rocked Baghdad and two northern Iraqi communities Thursday, killing at least 61 people during a major holiday period and extending a relentless wave of bloodshed gripping the country. The bulk of the blasts struck in mainly Shiite Muslim parts of the Iraqi capital shortly after nightfall, sending ambulances racing through the streets with sirens blaring. Authorities reported nine car bomb explosions across Baghdad, including one near a playground tha

World News Oct. 18, 2013