South Korean stocks traded flat late Thursday morning as gains in technology firms offset losses in carmakers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) edged down 0.08 points to 1,912.00 as of 11:20 a.m.Carmakers continued to lead the market decline, with No. 1 player Hyundai Motor losing 0.22 percent and its smaller affiliate Kia Motors falling 0.66 percent. In contrast, top auto parts maker Hyundai Mobis gained 0.97 percent.Tech shares traded bullish, with market b

July 25, 2013

South Korean stocks inched up 0.42 percent on Wednesday, as investors took to the sidelines on low hopes for second-quarter corporate earnings, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) added 7.93 points to close at 1,912.08. Trading volume was moderate at 315.9 million shares worth 3.47 trillion won (US$3.11 billion) with gainers outstripping decliners 443 to 339."The main index managed to close in positive

July 24, 2013

North Korea has halted all new construction at a long-range rocket launch facility on its east coast, a U.S. think tank said Tuesday, citing recent satellite imagery.According to 38 North, an analysis program of the U.S.-Korea Institute at Johns Hopkins University, no construction work has been carried out at the Musudan-ri facility for the past eight months.The facility, also called the Tonghae Satellite Launching Ground, was designed to handle rockets larger than the Unha-3 space launch vehicl

North Korea July 23, 2013

A confiscated insurance product belonging to the wife of former President Chun Doo-hwan has been purchased with assets inherited from her ancestors, a lawyer representing the couple said Tuesday.As part of efforts to collect a massive fine that the former military dictator owes the state, prosecutors have seized a personal pension insurance policy worth 3 billion won (US$2.68 million) that was opened under the name of former first lady Lee Soon-ja."I came here to pick up a document that can prov

Social Affairs July 23, 2013

Computer and software giant Apple said Sunday that it took its software developers website offline after it was hacked, warning that personal information about them may have been stolen."Last Thursday, an intruder attempted to secure personal information of our registered developers from our developer website," Apple said in a statement.Although sensitive  information was encrypted, "we have not been able to rule out the possibility that some developers' names, mailing addresses, and/or email ad

International July 22, 2013

Put an investment in a productive assets‘생산성 자산’에 투자한다Buffett lives not on an isolated island of wealth but in Omaha, in a shingle-roofed five-bedroom house on an unpretentious street that looks as if it might belong to a successful dentist. He bought it for $31,500 in 1958. The corporation he runs, Berkshire Hathaway, owns 76 businesses ― from a candy company to an electric utility ― that throw off $1 billion a month in free cash, and he holds major stakes in many of the country’s biggest blue-

English Eye July 22, 2013

South Korean stocks closed 0.22 percent lower Friday as investors sat on the sidelines due to jitters over the listed firms' second quarter earnings, analysts said. The local currency gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.07 points to close at 1,871.41. Trading volume was moderate at 315 million shares worth 3.54 trillion won (US$3.16 billion), with gainers outpacing losers 418 to 378."Seoul shares traded flat despite that the U.S. stock ma

July 19, 2013

All passengers will be required to wear seat belts at all times starting in 2015, the government said Friday, as part of measures aimed at improving the country's road safety.Currently, only drivers and front seat passengers are required to wear seat belts with back seat passengers only required to fasten safety belts when on expressways.Starting from 2015, all passengers will be required to wear their seat belts on any type of road, the Ministry of Land, Infrastructure and Transport said in a p

Social Affairs July 19, 2013

The ruling Saenuri Party on Friday submitted a proposal calling for disciplinary action against an opposition lawmaker accused of making inappropriate sexual remarks.Rep. Lim Nae-hyun of the main opposition Democratic Party has come under fire for making a crude joke with sexual nuance during a meeting with a group of male and female reporters earlier this week."Rep. Lim has seriously damaged not only his dignity as a lawmaker but also the honor and authority of the National Assembly," said the

Politics July 19, 2013

South Korean stocks opened lower Wednesday as investors continued to take a wait-and-see approach on the United States' stimulus moves down the road, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.83 points, or 0.15 percent, to 1,863.53 in the first 15 minutes of trading.Tech shares traded lower, with handset maker LG Electronics falling 0.7 percent and top flat panel maker LG Display losing 0.18 percent. Samsung SDI, the world's top maker of plasma display panels,

July 17, 2013

Two opposition lawmakers quit a parliamentary investigative committee Wednesday in a move aimed at breaking an impasse in a probe into allegations that the state spy agency meddled in last year's presidential election.The investigation, which began early this month for a 45-day run, has been in limbo while the rival parties have wrangled over who should represent each side on the committee.The probe aims to uncover the truth behind allegations that former National Intelligence Service (NIS) chie

Politics July 17, 2013

The government on Tuesday named North Korea as a suspect in the latest cyber attack against the presidential office website and dozens of other government offices and news outlets here.The latest attack took place from June 25, the anniversary of the outbreak of the 1950-53 Korean War, to July 1, in which the websites of 69 government and private organizations, including the prime minister's office, were attacked.About 90 percent of the attacked websites and servers have been repaired, according

North Korea July 16, 2013

State prosecutors on Tuesday raided the residence of former President Chun Doo-hwan as part of their move to collect a massive amount of unpaid fines levied on him for amassing large sums of secret funds during his presidency in the 1980s.Chun was ordered by a court in 1997 to return to the state coffers the 220 billion won (US$195 million) he was found to have illegally accumulated during his term. But he refused to make the payment, saying he was almost penniless.He has so far paid only a quar

Social Affairs July 16, 2013