Small- and mid-sized local securities firms are becoming the targets of merger and acquisition deals as the stock brokerage industry has posted a sagging business performance over the past few years.According to the Financial Supervisory Service, 62 local brokerage houses reported a net loss of 109.8 billion won ($99 million) for the 2013 fiscal year, marking the first yearly deficit in 11 years since fiscal year 2002.FSS data showed Friday that 28 out of the 62 firms posted a net loss, most of

Industry Feb. 21, 2014

Naver Corp., the nation’s largest search portal, faces an unexpected bump in its global mobile messaging business. Facebook’s recent acquisition of fast-growing messaging start-up WhatsApp dealt a blow to the stock value of Naver. Shares of the Internet heavyweight rebounded 2 percent on Friday, following an 8 percent plunge on Thursday. Regarding the outlook for Naver Corp.’s overseas mobile messaging business, however, industry watchers still remain skeptical. As part of efforts to go global,

Industry Feb. 21, 2014

President Park Geun-hye ordered broadcasting regulators Monday to ensure that the industry won’t fall into the hands of a handful of conglomerates, saying diversity and fairness are key to revitalizing the broadcasting sector.Park issued the instruction during a joint policy briefing by the Ministry of Science, ICT and Future Planning and the Korea Communications Commission.She said the broadcasting industry strongly influences the economy and is directly related to people’s everyday lives.“Cong

Feb. 17, 2014

South Korean stocks closed higher on Monday thanks to net buying by foreign investors and institutions, who kept alive last week’s modest growth momentum. The South Korean won gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index, starting the day in positive territory, gave up some of its gains to end at 1,946.36, up 0.31 percent, or 6.08 points, from Friday’s close. Trading volume on the main market was relatively light at 211.72 million shares, with 3.36 trillion won

Feb. 17, 2014

An explosion of an ammonia tank pipeline at a dairy and ice cream production and storage plant resulted in one death and three injuries, local emergency services said Thursday.The explosion took place at a plant owned by Binggrae Co. at around 1:05 p.m. that caused at least 1.5 tons of ammonia be released into the environment."Emergency efforts to contain the explosion and the subsequent leak of the chemical compound by the fire department and the military produced limited results," one official

Social Affairs Feb. 13, 2014

China's auto sales growth tumbled to 7 percent in January amid an economic slowdown and curbs imposed to fight smog and traffic.Drivers in the world's biggest auto market bought 1.85 million passenger vehicles, the China Association of Automobile Manufacturers said Thursday. It was the first time monthly sales surpassed 1.8 million.Auto sales growth is forecast to decelerate sharply from last year's 15.7 percent expansion to about 8 to 10 percent. Sales grew 17 percent in December.Chinese leader

Industry Feb. 13, 2014

A former South Korean student activist at the centre of a notorious miscarriage of justice in the era of military rule was acquitted Thursday in a retrial of abetting a fellow activist's suicide.Kang Ki-Hoon was convicted in 1992 of aiding activist Kim Ki-Sul to set himself on fire and leap to his death from a university building in protest at the military-backed administration of then president Roh Tae-Woo.He was also found guilty of forging Kim's will and was sentenced to three years in prison

Politics Feb. 13, 2014

Korea dropped out of the top 60 in FIFA rankings for the first time in nearly two decades.According to the February ranking unveiled by FIFA on Thursday, South Korea slipped eight spots to No. 61.South Korea has lost its last two international matches: 4-0 to Mexico on Jan. 29 and then 2-0 to the United States on Feb. 1.Among member nations of the Asian Football Confederation (AFC), South Korea is trailing five countries: Iran (38th), Japan (50th), Australia (53rd), Uzbekistan (57th) and the Uni

Soccer Feb. 13, 2014

U.S. Secretary of State John Kerry arrived in Asia on Thursday on a mission aimed largely at easing tensions between China and its smaller neighbors over territorial disputes and exploring ways to restart long-stalled talks on ridding North Korea of nuclear weapons.On his fifth trip to Asia as America's top diplomat, Kerry will be visiting South Korea, China and Indonesia, where officials traveling with him said he will be making the case for reducing regional acrimony over competing claims in t

Foreign Affairs Feb. 13, 2014

10일 업계에 따르면 삼성디스플레이가 올해 1분기 플렉시블 A3라인에 투자하면서 하반기에 곡면 스마트폰이 출시될 것으로 전망된다. KDB 대우증권의 송종호 연구원은 “하반기에 출시되는 곡면 스마트폰의 출하량은 2~3백만 대 정도로 예상한다. 주요 모델이 아닌 시장을 시험하기 위한 테스트용으로 틈새시장을 겨냥한 제품이 될 것”이라고 말했다.올해 선보이는 곡면 스마트폰은 작년 CES에서 선보였던 3면을 디스플레이로 사용할 수 있는 ‘윰’ 기술이 적용된다. 업계는 삼성이 배터리 문제를 해결하지 못해 금년 내 완전히 휘는 스마트폰을 선보이기는 어려울 것으로 보고 있다. 그러나 종이처럼 접었다 펼 수 있는 폴더블 스마트폰은 내년 하반기에는 양산할 수 있을 것으로 전망된다. 소현철 신한금융투자 연구원은 “내년에 폴더블 스마트폰은 2천~3천만대 정도 양산할 수 있을 것”이라고 전망했다. 삼성전자 권오현 대표이사는 지난 11월 애널리스트 데이에서 “2015년에 접을 수 있는 디스플레이를 출시할 계

한국어판 Feb. 10, 2014