Analysts from South Korean securities firms cast mixed forecasts for the central bank's interest rate policy this year as they are divided over the overall strength of the economic recovery, a survey showed Thursday.In a split decision, the Bank of Korea (BOK) froze the key rate at 2.75 percent for the third straight month on Friday as some economic indicators show signs of improvement despite the protracted economic slowdown. The BOK also cut its 2013 growth outlook to 2.8 percent from 3.2 perc

Jan. 17, 2013

South Korea's producer prices fell by the most in more than three years in December mainly because the local currency sharply appreciated to the U.S. dollar, the central bank said Thursday.The producer price index, a barometer of future consumer inflation, fell 1.2 percent in December from a year earlier, compared with a 0.9 percent on-year fall in November, according to the Bank of Korea (BOK). The December figure marked the largest fall since a 3.1 percent on-year fall in October 2009.Compared

Jan. 17, 2013

A group of Koreans living in the U.S. said Wednesday it is staging a full-scale campaign to discredit the name "Sea of Japan."The group prefers the name East Sea for the waters between the Korean Peninsula and Japan, and wants that reflected in U.S. textbooks."Our final goal is to include 'the East Sea' in all textbooks used at elementary, junior high and high schools in 50 states by March 2017," said Peter Y. Kim, head of the Voice of Korean Americans (VoKA). "This civic movement will be a very

Foreign Affairs Jan. 17, 2013

South Korean stocks got off to a strong start Thursday, fueled by gains in large-cap shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.68 points, or 0.39 percent, to 1,985.13 in the first 15 minutes of trading. Top-cap Samsung Electronics inched up 0.13 percent, with No. 1 carmaker Hyundai Motor rising 1.6 percent. In contrast, utilities and textile firms lost ground, with state-run electricity provider Korea Electric Power Corp. sliding nearly 2 percent. T

Jan. 17, 2013

South Korean stocks closed almost flat Wednesday as investors took to the sidelines amid bleak corporate earnings, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) inched up 1.94 points, or 0.1 percent to finish at 1,985.68. Trading volume was moderate at 372.1 million shares worth 2.94 trillion won (US$2.77 billion) with decliners outpacing gainers 416 to 365. "It's hard to say corporate earnings have been satisfactor

Jan. 16, 2013

South Korean stocks traded 0.3 percent higher late Wednesday morning, led by gains in utilities and construction firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.96 points to 1,989.70 as of 11:40 a.m.State-run electricity provider Korea Electric Power Corp. climbed more than 2 percent and No. 1 builder Hyundai Engineering & Construction jumped nearly 3 percent. In contrast, tech firms lost ground, with top-cap Samsung Electronics slipping 0.07 percent.The loca

Jan. 16, 2013

The Obama administration announced Tuesday that it will kick off multilateral talks on trade in the service sector that involve South Korea, the European Union and 18 other nations."The negotiations will begin in Geneva, Switzerland, with a group of 20 trading partners, who represent nearly two-thirds of global trade in services, with the objective of promoting international trade in services and supporting increased U.S. service exports and jobs," U.S. Trade Representative Ron Kirk said in a st

Foreign Affairs Jan. 16, 2013

Nagisa Oshima, a Japanese director internationally acclaimed for his films “Empire of Passion” and “In the Realm of the Senses,” has died of pneumonia. He was 80.His office, Oshima Productions, said Oshima died Tuesday afternoon at a hospital near Tokyo after being in and out of hospital since he was struck by a stroke more than a decade ago.A former student radical from Japan's ancient capital of Kyoto, Oshima debuted in 1959 with “A Town of Love and Hope,” quickly earning a reputation of a “ne

Film Jan. 16, 2013

President Barack Obama will reveal the details of how the U.S. will address gun violence on Wednesday, the White House said Tuesday, while New York passed the toughest gun control law in the nation and dared other states to do the same.The Obama administration has been moving quickly on the issue before the shock fades over last month's school shooting in Connecticut, which Obama has called the worst day of his presidency. The White House said Obama would appear Wednesday with children who wrote

World News Jan. 16, 2013

South Korean stocks began higher Wednesday, buoyed by gains in automobile and construction companies, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 4.42 points, or 0.22 percent to 1,988.16 in the first 15 minutes of trading. Ssangyong Motor, the smallest player, jumped more than 3 percent, with top builder Hyundai Engineering & Construction rising 1.4 percent. Local builders gained ground after the transition team of President-elect Park Geun-hye pledged to boost t

World News Jan. 16, 2013

Twin blasts inside a university campus in Syria's largest city on Tuesday set cars ablaze, blew the walls off dormitory rooms and left more than 80 people dead, anti-regime activists said.What caused the blasts remained unclear.Anti-regime activists trying to topple President Bashar Assad's regime said his forces carried out two airstrikes. Syrian state media, for its part, blamed rebels fighting the Syrian government, saying they fired rockets that struck the campus.Aleppo, Syria's largest city

World News Jan. 16, 2013

South Korean stocks retreated 1.16 percent Tuesday, as overseas investors dumped shares to take profits from recent rises, analysts said. The Korean won lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slid 23.30 points to close at 1,983.74. Trading volume was heavy at 542 million shares worth 4.37 trillion won (US$4.14 billion) with decliners far outstripping gainers 535 to 263. "The earnings season kicked off in the U.S., except that there isn't real

Jan. 15, 2013