South Korean stocks closed 0.57 percent lower Monday as investors took a wait-and-see approach ahead of the policy-setting meeting of the United States Federal Open Market Committee (FOMC) slated for this week, analysts said.The local currency rose against the U.S. dollar.   The benchmark Korea Composite Stock Price Index (KOSPI) shed 10.92 points to close at 1,899.89. Trading volume was moderate at 331.6 million shares worth 4.08 trillion won (US$3.67 billion), with losers outpacing gainers 58

July 29, 2013

South Korea said Sunday it will extend a "final offer" for talks to North Korea to discuss thenormalization of a suspended inter-Korean industrial complex in the North's border town of Gaeseong.   The Gaeseong Industrial Complex has remained shuttered since early April as the North unilaterally withdrew its workers from South Korean companies there amid heightened tensions on the peninsula.   The two sides have held six rounds of negotiations to reopen the factory zone, but to no avail. Seoul ha

Social Affairs July 28, 2013

U.S. President Barack Obama proclaimed Saturday that the Korean War was a victory for his country and its ally South Korea, saying the sacrifice of American veterans will never be forgotten."Here today, we can say with confidence that this war was no tie. Korea was a victory," Obama said in a speech at the Korean War Veterans Memorial on the National Mall in Washington, D.C.He said about 50 million South Koreans are living in freedom in a vibrant democracy with one of the world's most dynamic ec

World News July 28, 2013

More than 1,000 detainees escaped from a prison near the eastern Libyan city of Benghazi in a massive jailbreak Saturday, officials said, as protesters stormed political party offices in Libya's main cities.   It wasn't immediately clear if the jailbreak at the al-Kweifiya prison came as part of the demonstrations. Protesters had massed across the country angry over the killing of an activist critical of the country's Muslim Brotherhood group.Gunmen outside of the prison fired into the air as in

World News July 28, 2013

A Seoul appellate court on Thursday commuted the sentence of an elder brother of former President Lee Myung-bak to one year and two months from two years on bribery charges.  Lee Sang-deuk, the former six-term lawmaker, was indicted on charges of receiving a total of 750 million won (US$654,165) in kickbacks from a local company and two troubled savings banks from 2007 to 2011.   Clearing the elder Lee of charges that he received 300 million in bribes from Kim Chan-kyong, the former chief of Mir

Politics July 25, 2013

South Korean stocks closed 0.84 percent higher Monday, dispelling concerns over potential negative impacts from the Japanese upper house election on the local economy, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) advanced 8.94 points to finish at 1,880.35. Trading volume was moderate at 353.2 million shares worth 3.60 trillion won ($3.22 billion) with gainers outnumbering decliners 432 to 361. "The Abe coalition's win in t

July 22, 2013

서울중앙지검 '전두환 일가 미납추징금' 특별집행팀(팀장 김형준 부장검사)이 전두환 전대통령의 부인 이순자씨  명의의 30억 원짜리 개인연금 보험에 대해 압류 조치를 취한 것으로 알려졌다.    검찰이 전씨의 미납 추징금 환수를 위해 전담팀을 만든 이후 전씨 일가의  현금성 자산을 압류한 사실이 알려진 건 이번이 처음이다.    22일 금융계와 검찰 등에 따르면 특별집행팀은 이씨가 서울 서대문구 대현동에 있는 NH 농협은행 신촌지점에 30억원의 개인 연금 보험에 가입한 사실을 확인, 최근 법원으로부터 영장을 발부받아 압류한 것으로 알려졌다.    이씨는 이 연금 보험을 통해 매달 1천200만 원을 받았는데 검찰의 압류로 추가 지급이 정지된 상태이다.    이씨가 가입한 상품은 일정액을 맡겨두면 주기적으로 이자와 원금 일부를  지급하는 연금 보험 형태로 알려졌다. 따라서 이씨의 가입 시기에 따라 검찰이 압류한 돈의 규모는 달라진다.   검찰은 이씨가 연금보험에 넣은 30억원의 출처를 추

한국어판 July 22, 2013

Prosecutors have seized an insurance product belonging to former President Chun Doo-hwan's wife as part of efforts to collect a massive fine he owes the state, sources at the prosecution said Monday.   The move is part of intensifying efforts by the prosecution to find concealed assets of the former president, who was ordered by the top court in 1997 to return to the state coffers 220 billion won (US$196.8 million) that he was found to have accumulated during his military rule from 1980 to 1988.

Social Affairs July 22, 2013

'강남스타일' 등 한류열풍이 세계로 확산되며  한류관련 업체들이 지적재산권 수출에서 차지하는 비중이 커졌다.   노충식 한국은행 국제수지팀장 등은 21일 내놓은 '우리나라의 지적재산권 수지현황 및 향후과제'란 보고서에서 지난해 한류관련 업체들의 벌어들인 지적재산권 사용료가 전년도(6억8천만달러)보다 17.6%, 1억2천만달러 늘어난 8억달러에 달했다고 밝혔다.    작년 한국의 전체 지적재산권 사용료 수입이 34억4천만달러니, 전체의 약 23.3%를 한류관련 업체가 차지한 셈이다. 이 비율은 전년(약 15.7%)보다 훌쩍 늘어난  것 이다.    한류관련 업체란 게임업체와, 엔터테인먼트사, 방송사, 영화사 등을 말한다. 온라인 게임, 음악, 드라마, 영화 등이 이들의 주요 상품이다.    노 팀장은 "지난해 선풍적 인기를 끈 가수 싸이의 국외 저작권료 역시 여기  포함된다"며 "한류관련 산업은 (다른 산업의 지적재산권 수지와 비교해) 희망적인  부분"이라고 말했다.    한류업체 중

한국어판 July 21, 2013

The high popularity of South Korean pop culture has helped the country earn more money in its intellectual property rights (IPR) from abroad last year from a year ago, data showed Sunday.   According to data by the Bank of Korea, South Korean companies associated with Korean pop culture earned US$800 million in royalties from IPRs overseas in 2012, up 17.6 percent or $120 million from $680 million in the previous year.   The figure represented 23.3 percent of South Korea's overall IPR income fro

July 21, 2013

The popularity of foreign bottled water appears to be waning in South Korea, apparently affected by the protracted economic slump, industry data released on Sunday indicated.  According to local retailers, their sales of imported bottled water began to decline last year and have experienced a two-digit fall this year.   Market leader E-Mart said its sales of foreign bottled water sank 9.3 percent in the first half, with the monthly decrease rate standing at 4.8 percent in January, 9.1 percent in

July 21, 2013

U.S. President Barack Obama is scheduled to attend an event next week to commemorate the 60th anniversary of the Korean War Armistice, a diplomatic source here said Saturday.   "President Obama plans to deliver a speech at the ceremony to be held at the Korean War Veterans Memorial (in Washington, D.C.) next Saturday," the source told Yonhap News Agency.   Other participants will include Secretary of Defense Chuck Hagel, Secretary of Veterans Affairs Eric Shinseki and Secretary of the Interior S

World News July 21, 2013