South Korea's foreign ministry said Saturday that no decision has been made yet on when to hold a three-way meeting among Seoul, Washington and Tokyo to discuss the resumption of long-stalled talks on denuclearizing North Korea.   Japan's Asahi Shimbun had reported earlier that U.S. nuclear envoy Glyn Davis called his Japanese counterpart on Friday to discuss the stalled six-party talks. The U.S. has been discussing the issue periodically with its two major Asian allies.   "It is our turn this

North Korea April 28, 2013

 South Korean stocks closed 0.84 percent higher Thursday on the back of a brighter outlook over Wall Street as U.S. firms' first-quarter earnings met market expectations, analysts said. The local currency gained against theU.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) added 16.29 points to finish at 1951.60. Trading volume was moderate at 329.4 million shares worth 4.5 trillion won (US$4 billion) with gainers outnumbering decliners 438 to 373.   "Investors scooped up und

April 25, 2013

 South Korean stocks traded 0.39 percent higher late Thursday morning, led by gains in autos and builders, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) movedup 7.63 points to 1,942.94 as of 11:20 a.m.   Carmakers led the market gain, with leading player Hyundai Motor rising 1.89 percent and its smaller affiliate Kia Motors adding 1.79 percent. Top auto parts maker Hyundai Mobis gained 1.74 percent.  Construction firms traded higher, with Hyundai Engineering & Construc

April 25, 2013

South Korean stocks closed 0.87 percent higher Wednesday due to the improved economic outlook for the United States and the eurozone, analysts said. The local currency gained against the U.S. dollar.  The benchmark Korea Composite Stock Price Index (KOSPI) added 16.68 points to finish at 1,935.31. Trading volume was moderate at 334.7 million shares worth 4.3 trillion won (US$3.9 billion) with gainers outnumbering decliners 626 to 195.   "The local stock market gathered ground due to the overnigh

April 24, 2013

The government is moving to strengthen penalties for any behavior that could jeopardize the safety of a flight, including any type of violence against flightattendants, it said Wednesday.   The move comes after an executive of POSCO Energy Co., an affiliate of the country's top steelmaker POSCO, was denied entry into the United States for allegedly assaulting a female flight attendant on a Korean Air flight from Incheon. The company official offered to step down Tuesday.   Violence against the c

Social Affairs April 24, 2013

South Korean consumer electronics giant LG Electronics Inc. said Wednesday its first-quarter earnings sank from a year earlier largely due to reduced prices and increased marketing costs.   Net profit reached 22 billion won (US$19.6 million) in the January-March period on a consolidated basis, compared with a profit of 248 billion won a year earlier, LG Electronics said in a regulatory filing.   Revenue slipped 6.8 percent on-year to 14.1 trillion won over the cited period, while operating profi

Industry April 24, 2013

South Korean stocks traded 0.49 percent higher late Wednesday morning, led by gains in builders and logistics firms, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) moved up 9.38 points to 1,928.01 as of 11:20 a.m.   Construction firms traded higher, with Hyundai Engineering & Construction rising 1.21 percent and Daewoo Engineering & Construction advancing 1.03 percent. GS Engineering & Construction added 2.39 percent.   Logistics firms also gathered ground, with Hyundai

April 24, 2013

South Korean stocks closed 0.4 percent lower Tuesday as foreigners became net sellers of local shares amid the weak yen, analysts said. The local currency fell against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 7.68 points to finish at 1,918.63. Trading volume was low at 253 million shares worth 3.4 trillion won (US$3.08 billion) with gainers outnumbering decliners 478 to 316.   "The local stock market lost steam as the Japanese currency is anticipated to tra

April 23, 2013

 South Korean stocks traded 0.65 percent lower late Tuesday morning, led by losses in techs and autos, analysts said.  The benchmark Korea Composite Stock Price Index (KOSPI) moved down 12.49 points to 1,913.82 as of 11:20 a.m.   Tech heavyweights lost ground, with market behemoth Samsung Electronics falling 1.06 percent, and top chipmaker SK hynix losing 0.69 percent. Leading flat panel manufacturer LG Display decreased 1.31 percent.  Carmakers also traded lower, with Hyundai Motor falling 0.27

April 23, 2013

 South Korean stocks closed 1.03 percent higher Monday as investors scooped up shares on bargain hunting, analysts said. The local currency fell against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) added 19.56 points to finish at 1,926.31. Trading volume was low at 254.9 million shares worth 3.6 trillion won (US$3.25 billion) with gainers outnumbering decliners 521 to 283.   "The market gain came as investors scooped up undervalued shares despite the listed firms' w

April 22, 2013

South Korean stocks traded 0.14 percent higher late Monday morning, led by gains in techs and mobile carriers, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.64 points to 1,909.39 as of 11:20 a.m.   Tech heavyweight Samsung Electronics edged up 0.07 percent, an top chipmaker SK hynix added 0.35 percent. Leading flat panel manufacturer LG Display advanced 1.17 percent.  Mobile carriers also gathered ground, with No. 1 SK Telecom rising 1.33 percent and KT moving u

April 22, 2013

Rescuers and relief teams struggled to rush supplies into the rural hills of China's Sichuan province Sunday after an earthquake left at least 179 people dead and more than 6,700 injured and prompted frightened survivors to spend a night in cars, tents and makeshift shelters.The earthquake Saturday morning triggered landslides that cut off roads and disrupted phone and power connections in mountainous Lushan county, further south on the same fault line where a devastating quake wreaked widesprea

World April 21, 2013

South Korean stocks are expected to move in a narrow range in the coming week amid concerns on poor quarterly earnings and the global economic slowdown, analysts said Saturday.   The benchmark Korea Composite Stock Price Index (KOSPI) closed on Friday at 1,906.75, down 0.88 percent, or 17.48 points, from one week ago.  Analysts anticipate that the benchmark index may move around the 1,900 level next week.  They said investor sentiment could be weighed down by concerns on quarterly earnings of So

April 21, 2013