South Korean stocks traded higher late Tuesday morning, led by gains in tech and autos.The benchmark Korea Composite Stock Price Index advanced 9.11 points, or 0.42 percent, to 2,182.85 as of 11:15 a.m.Most large-cap stocks were mixed across the board. Top market cap Samsung Electronics rose 1.84 percent, while SK hynix, a major chipmaker, shed 1.15 percent.Hyundai Motor, the No. 1 automaker, gained 2.12 percent and its smaller affiliate, Kia Motors, fell 0.2 percent.SK Innovation, the No. 1 ref

Market April 25, 2017

South Korean football icon Park Ji-sung is set to return to Old Trafford after receiving a call-up to play in a testimonial match for a former Manchester United teammate.Michael Carrick on Tuesday (Korean time) posted on his Twitter and Facebook page that Park will take part in his testimonial match, which will feature former and current star players in European football. The testimonial on June 4 will see Manchester United 2008 XI taking on the Michael Carrick All-Stars.In this file photo taken

Soccer April 25, 2017

South Korea's corporate watchdog said Tuesday that it will announce a list of companies obliged to disclose their corporate information later this year in a bid to help boost the transparency of their business activities.The Fair Trade Commission (FTC) said the Cabinet approved a plan to put businesses with assets of 5 trillion won ($4.4 billion) or more under a new watch list for mandatory filings.The list of companies subject to the new rules comes as the watchdog revised the fair trade law la

Industry April 25, 2017

South Korean Choue Chung-won will run unopposed for a fourth term as the international taekwondo chief, the martial art's governing body said Tuesday.The World Taekwondo Federation said Choue is the sole applicant for its presidency. The 69-year-old has been at the WTF's helm since June 2004.In this file photo taken on July 25, 2016, Choue Chung-won, president of the World Taekwondo Federation, speaks at a press conference in Seoul. (Yonhap)The WTF elections for president, 12 council members and

More Sports April 25, 2017

Foreign investors bought South Korean stocks for a third straight session, fueling expectations that the country's benchmark index could break this year's record high, brokerage data showed Tuesday.Foreign buying between Thursday and Monday came to nearly 700 billion won ($617 million), according to data from Korea Exchange, the local bourse operator. Foreigners' buying spree of local stocks came despite heightened tensions on the Korean Peninsula over North Korea's missile and nuclear weapons p

Market April 25, 2017

The reported capitalization of South Korean life insurers is expected to face pressure if they adopt a new international accounting standard, credit appraiser Moody's Investors Services said Tuesday.South Korean life insurers have been preparing to report financial results under International Financial Reporting Standards 17, which will go into effect in South Korea from 2021.  Stella Ng, a vice president of Moody's, said the new global accounting standard will require life insurers to meas

Market April 25, 2017

Jin Air, one of South Korea's leading low-cost carriers, said Tuesday it will list its shares on the country's main bourse this year to raise funds for future growth.Jin Air has selected MiraeAsset Daewoo as the lead manager for the initial public offering (IPO) and will use the funds generated to purchase eight airplanes by 2018, the budget carrier said in a statement. A Jin Air B777-200ER passenger jet taking off from an airport in South Korea. (Jin Air)Currently, it operates 22 airplanes, inc

Industry April 25, 2017

The government said Tuesday it plans to extend some 226 billion won ($119.3 million) in loans to local tourism businesses hit by a sharp drop in Chinese visitors in the wake of Beijing's hostile policy toward its neighbor.  Tourism-related businesses here, such as travel and hospitality, are taking the brunt of China's ban on trip sales to Korea, which took effect from March 15, in apparent retribution for Seoul's planned installation of a US anti-missile system called Terminal High Altitude Are

Industry April 25, 2017

South Korea's finance minister held talks with the head of global investment bank Citigroup Inc. on Monday (local time) to share his views on global recovery trends and its impact on Asia's fourth-largest economy.At the meeting with Citigroup CEO Michael Corbat in New York, Finance Minister Yoo Il-ho said the South Korean economy has managed to pull off modest growth led by brisk exports which posted the fifth straight month of gains since November on the back of increased global demand.The uptu

Market April 25, 2017

The combined sales of South Korea's four credit rating companies fell 0.2 percent on year in 2016, due to a decline in sales of corporate bonds, data showed Tuesday. Total sales for four credit rating firms -- NICE Investors Service, Korea Investors Service, Korea Ratings and Seoul Credit Rating & Information -- stood at 82.76 billion won ($73.2 million) last year, compared to 82.95 billion won a year earlier, according to the data by the Financial Supervisory Service. Last year, sales

Market April 25, 2017

Samsung Electronics Co. said Tuesday it has developed an application processor (AP) for Internet of Things (IoT) devices.The South Korean tech giant said it has completed the development of the Exynos i T200 that boasts improved security. AP chips, referred to as the "brains" of electronic devices, play a key role in activating operating systems and applications. (Yonhap)The IoT is a concept in which all tangible objects are connected to the Internet and can identify themselves to other devices

Technology April 25, 2017

South Korea's LG Display Co. stood as the leading maker of liquid crystal display (LCD) panels for TVs in the first quarter, data showed Tuesday, although overall shipments fell amid the industry's shift to OLED panels.According to the data compiled by industry tracker WitsView, LG Display produced 12.6 million units of LCD panels in the January-March period, down 7 percent from three months earlier. (Yonhap)Taiwan-based Innolux Corporation followed with 9.9 million units. China's BOE Technology

Technology April 25, 2017

South Korean stocks opened higher Tuesday, led by gains in tech firms and automakers.The benchmark Korea Composite Stock Price Index rose 2.39 points, or 0.11 percent, to 2,176.13 in the first 15 minutes of trading.Most large caps traded higher, with market kingpin Samsung Electronics adding 1.12 percent and SK hynix, a major chipmaker, remaining flat.Hyundai Motor, the No. 1 automaker, moved up 1.06 percent, while AmorePacific, the country's top cosmetics maker, shed 2.91 percent following weak

Market April 25, 2017

US Secretary of State Rex Tillerson will chair a special meeting of the UN Security Council to be convened later this week to discuss North Korea, the State Department announced Monday.The ministerial meeting, set for Friday at the UN headquarters in New York, represents a US effort to drum up international support for its push to increase pressure on North Korea over its nuclear and missile programs.(Yonhap)"The DPRK poses one of the gravest threats to international peace and security through i

North Korea April 25, 2017

US President Donald Trump said Monday North Korea is a "real threat to the world," calling for the UN Security Council to get ready to impose tougher sanctions on the communist nation."The status quo in North Korea is also unacceptable," Trump said during a lunch meeting he hosted at the White House for UN ambassadors from countries that are members of the Security Council. "The council must be prepared to impose additional and stronger sanctions on North Korean nuclear and ballistic missile pro

North Korea April 25, 2017