North Korea delivered its most in-depth account yet of the case against a Korean-American sentenced to 15 years' hard labor, accusing him late Thursday of smuggling in inflammatory literature and trying to establish a base for anti-Pyongyang activities at a border city hotel.Still, the long list of allegations included no statement from Kenneth Bae, other than claims that he confessed and didn't want an attorney present during his sentencing last week for what Pyongyang called hostile acts again

North Korea May 10, 2013

South Korean stocks opened lower Friday as investors opted for profit-taking after the market closed bullish in the previous trading session following the central bank's rate cut, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 11.68 points, or 0.59 percent, to 1,967.77 in the first 15 minutes of trading.Shares lost ground across the board, with No. 1 carmaker Hyundai Motor losing 2.07 percent and market behemoth Samsung Electronics moving down 1.06 percent. Lead

May 10, 2013

Syria will supply “game-changing” weapons to Hezbollah, the chief of the Lebanese militant group said Thursday, less than a week after Israeli airstrikes on Damascus targeted alleged shipments of advanced Iranian missiles bound for Hezbollah. Israel has signaled it will respond with airstrikes to any future weapons shipments, meaning it could quickly get drawn into Syria's civil war if the Hezbollah chief's declaration is more than an empty threatTension has been rising in the region since Israe

World News May 10, 2013

Daum Communications Corp., the operator of South Korea's second-most visited portal, said Friday its first-quarter net profit fell almost 13 percent on a decline in its display advertising and game services.Net profit came to 20 billion won ($18.4 million) in the January-March period, compared with a profit of 23 billion won a year earlier, Daum said in a regulatory filing.Revenue rose 15.5 percent on-year to 119 billion won in the first quarter, while operating profit slumped 16.3 percent to 23

Industry May 10, 2013

China's inflation rose slightly in April amid concern about the strength of its economic recovery. Consumer prices rose 2.4 percent over a year earlier, up from March's 2.1 percent gain, data showed Thursday. That still is well below the government's target of 3.5 percent for the year. Inflation is forecast to rise gradually as a shaky economic recovery boosts consumer demand. But mixed signals about factory activity, which slowed in April, and doubts about the strength of trade have raised ques

World Business May 9, 2013

The combined foreign ownership of shares listed on South Korea's main bourse fell to an eight-month low as of Tuesday, apparently due to the protracted economic slowdown, data has showed.  Overseas investors held 34.02 percent of the total market value, marking the lowest number since 33.98 percent tallied in September last year, according to the Korea Financial Investment Association data that came out Thursday. Foreigners' presence on blue-chip exporters fell, with their stakes in Samsung Elec

May 9, 2013

Youth unemployment is likely to rise globally to 12.8 percent by 2018, wiping out gains made in the recent economic recovery, the U.N.'s labor office said Wednesday.As of last year, some 12.4 percent of people aged 15 to 24 worldwide were unemployed, up from 12.3 percent in 2011, according to a report published by the International Labor Organization, which is based in Geneva.In six of 10 developing countries surveyed, more than 60 percent of the young people were either unemployed or trapped in

World Business May 9, 2013

South Korean stocks opened higher Thursday, tracking overnight gains on Wall Street on rising hopes for an economic recovery, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 8.05 points, or 0.41 percent, to 1,964.50 in the first 15 minutes of trading.Shares gathered ground across the board, with market behemoth Samsung Electronics rising 0.81 percent and top steelmaker POSCO moving up 0.16 percent. Leading builder Hyundai Engineering & Construction Co. advanced 0.6

May 9, 2013

Convicted ex-Enron Corp. CEO Jeffrey Skilling's more than 24-year prison sentence for his role in the once mighty energy giant's collapse could be reduced by as many as 10 years if a federal judge approves an agreement reached Wednesday between prosecutors and defense attorneys.Under the agreement, which Justice Department officials say includes a previous court-ordered reduction of as much as nine years, Skilling's original sentence will be reduced to somewhere between 14 and 17.5 years. The ag

World Business May 9, 2013

Real Madrid delayed Barcelona's claim to the Spanish league title by trouncing 10-man Malaga 6-2 at the Santiago Bernabeu on Wednesday.Had the Spanish powerhouse dropped a point, Barcelona would have lifted its 22nd league crown, its fourth in five seasons.Instead, a determined-looking Madrid went on a goal rampage, opening the scoring when Raul Albiol headed inside the far post from a corner launched by Luka Modric in the third minute.Roque Santa Cruz equalized in the 15th minute when he bounce

Soccer May 9, 2013

South Korea plans to provide 26 trillion won ($23.9 billion) worth of support for small start-up companies this year as part of efforts to create a business friendly environment for such venture business activities, officials said Thursday.The support plan and other measures, including tax incentives, will be unveiled next week, which would represent the fourth large-scale policy package by President Park Geun-hye to boost the slowing economy since her inauguration in February."Details have yet

May 9, 2013

NHN Corp., South Korea's top Internet portal operator, said Thursday its first-quarter net profit jumped15.6 percent from a year earlier, buoyed by increased revenue from advertising and messenger services.Net profit reached 157 billion won ($145 million) in the January-March period, compared with a profit of 136 billion won the previous year, NHN said in a regulatory filing.Revenue rose 17.6 percent on-year to 673 billion won in the first quarter, and operating profit gained 10.5 percent to 191

Industry May 9, 2013

A neighbor who helped free three women from nearly a decade in captivity in Ohio has become a star, offering moments of levity in an unspeakably horrible story, free publicity for a restaurant chain and unexpected lessons in race relations.Charles Ramsey lived next door to where Ariel Castro is alleged to have kept the women in a makeshift prison in a Cleveland neighborhood. On Monday afternoon, Ramsey happened to be home and heard Amanda Berry's scream.Or let him tell it: “I got the day off fro

People May 9, 2013