Led by memory chips, petrochemical products and machineries, South Korea's exports to China increased in April for the sixth consecutive month despite Beijing's apparent import restrictions over a diplomatic row, according to data released Sunday.The Korea Trade-Investment Promotion Agency (KOTRA) said that the nation's shipments to the neighbor country jumped 10.2 percent in the month from one year before. Its imports from China also increased 14.4 percent year-on-year. Bilateral trade has cont

Economy June 18, 2017

South Korean swimmer Park Tae-hwan departed for Rome on Sunday to open his pre-world championships training camp, with an eye on a gold medal at the biennial competition.Park, 27, is scheduled to compete at the FINA World Aquatics Championships in Budapest. The competition begins July 14 with synchronized swimming and diving, and the swimming portion starts July 23.South Korean swimmer Park Tae-hwan holds a press conference in Seoul on June 16, 2017. (Yonhap)This will be Park's first world champ

More Sports June 18, 2017

Loans extended by savings banks, insurers and other non-bank institutes reached a record high in April as local banks tightened lending regulations, industry data showed Sunday.According to the data compiled by the Bank of Korea, outstanding loans extended by such institutions reached 762.29 trillion won ($672 billion) as of end-April, the highest since related data began to be compiled in 1993.It marks a 5.2 percent, or 37.7 trillion won, rise from the end of last year. (Yonhap)Should the curre

Industry June 18, 2017

Local hotels are looking for tie-ups with airline companies to bring cabin crews to their facilities as they search for hidden markets to survive stiff competition, industry officials said Sunday.Flight attendants and cockpit crews spend nearly half a year overseas and stay up to four days at a single location. Airline companies go the extra length to find the best suitable hotels for their crews' lodging overseas, making their choices after extensive reviews. Once a hotel is picked, the compani

Industry June 18, 2017

A joint South Korea and Israeli foundation plans to provide financial assistance to about three consortia between technology companies of the two countries, an official said Sunday.The Korea-Israel Industrial Research and Development Foundation is set to select about three successful consortia by November for assistance, said Lee Heui-joo, an official handling the issue at South Korea's trade ministry.He said the foundation can provide up to $1 million to each consortium after evaluation.South K

Business June 18, 2017

Samsung Electronics Co., the country's top market cap, is still undervalued and has further room to rise down the road given its strong earnings, analysts said Sunday.But some fund managers remained cautious, projecting its earnings cycle may take a turn for the worse.Samsung, the world's largest manufacturer of smartphones, has risen 61.74 percent for the past one year, providing a floor under the country's stock market. On Friday, Samsung closed at 2,279,000 won ($2,000) on the Seoul bourse, a

Industry June 18, 2017

Choo Shin-soo of the Texas Rangers has reached double figures in home runs for the first time in two years.Choo hit a two-run blast off Seattle Mariners reliever Dan Altavilla in the Rangers' five-run sixth inning at Globe Life Park in Arlington in Texas on Saturday (local time).Choo, who batted leadoff and played in right field, also hit a single in the second for a 2-for-5 day at the plate, helping the Rangers to a 10-4 victory.Choo is now batting .261 with 10 home runs and 32 RBIs.The 34-year

Baseball June 18, 2017

South Korean companies' earnings for the second quarter of the year are forecast to be higher than earlier expected on the back of improving business conditions, industry data showed Sunday.According to the data compiled by industry tracker FnGuide, the combined operating income of 155 major listed firms here are estimated at 41.37 trillion won ($36.5 billion) for the April-June period, up 5.7 percent from the earlier projection made three months earlier. The second-quarter operation income esti

Industry June 18, 2017

Ryu Hyun-jin of the Los Angeles Dodgers has beaten the Cincinnati Reds in a return match for his third win of 2017.Ryu improved to 3-6 after holding the Reds to two earned runs in five innings in the Dodgers' 10-2 victory on Saturday (local time) at Great American Ball Park in Cincinnati.Ryu scattered eight hits while striking out seven and walking two. He lowered his ERA from 4.42 to 4.35.Six days earlier, the Reds touched Ryu for three home runs in four innings in one of the left-hander's wors

Baseball June 18, 2017

South Korea's mobile carriers are keeping a watchful eye on possible moves by the government to cut subscription costs for telecom services that will impact their earnings, indtry watchers said Sunday.The Ministry of Science, ICT, and Future Planning will hold a session with the State Affairs Planning Advisory Committee, the de facto transition team of the new government, on Monday to review President Moon Jae-in's campaign pledge to cut telecom service fees. The fees have received flak for unne

Industry June 18, 2017

A looming US rate hike this week appears unlikely to exert a negative impact on South Korea's bond market, experts here said Tuesday.The US Federal Reserve is widely expected to raise its key rate by a quarter of a percentage point to a target range of 1 to 1.25 percent. In March, the Fed also raised its key rate by a quarter of a percentage point. Experts said the local bond market may become more sensitive to the rate change in the short-term, though the bond market is unlikely to suffer any m

Market June 13, 2017

South Korea's auto exports rose for four months in a row in May on an upturn in global demand, government data showed Tuesday.The total value of vehicles shipped overseas reached $3.51 billion last month, up 3.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. The number has remained in positive terrain since February when it rebounded to a 5.3 percent rise from a 4.8 percent fall in the previous month.Total vehicles shipped abroad also c

Economy June 13, 2017

LG Chem Ltd, a leading South Korean battery maker, denied a media report Tuesday that it has reached a 7 trillion-won deal to supply electric vehicle batteries to Volkswagen AG.In a regulatory filing, LG Chem, also the country's top chemical firm, said it has not signed any contracts with the German carmaker, adding that it has been conducting a slew of joint projects with global carmakers.(Yonhap)A local newspaper reported earlier in the day that LG Chem secured the mega deal, beating Chinese r

Industry June 13, 2017

South Korea's major offline life insurers have emerged as major players in the country's online life insurance market, data showed Tuesday, as they focused marketing activities on savings-type policies, which life planners shun due to low commissions.Kyobo Lifeplanet Life Insurance Co., an Internet arm of Kyobo Life Insurance, became the largest online life insurer with the initial premium payments of 1.28 billion won ($1.1 million) during the first three months of this year, up 45 percent from

Industry June 13, 2017

Nearly 6 out of 10 South Koreans who traveled abroad this year used foreign or budget carriers, industry data showed Tuesday, amid rising demand from budget-conscious travelers. According to the data by Hana Tour, the country's No. 1 travel agency, low-cost carriers and other foreign airlines accounted for 57 percent of all overseas tour programs sold from January to May.The departure lobby is crowded with outbound travelers at Incheon airport, west of Seoul, as many people take advantage of ext

Industry June 13, 2017