Korean candidate elected as ITU-T director

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Authorities probe electronics firms over suspected accounting fraud

The South Korean customs and financial authorities have launched an investigation into suspicions that a mid-sized electronics firm and its affiliate, championed as some of the fiscally healthiest companies, committed accounting fraud amounting to hundreds of billions of won, state officia...

Updated : 2014.10.24 11:58

BOK chief urges companies to invest

Bank of Korea (BOK) Governor Lee Ju-yeol on Friday urged the heads of South Korean companies to beef up investment as the country's economy is in further need of a boost in growth momentum.In a meeting with the heads of large corporations, the BOK chief said economies around the world face...

Updated : 2014.10.24 10:08

Korea executes 76% of annual budget spending as of Q3

South Korea has spent 76 percent of its annual budget so far this year as it seeks to frontload its spending to boost economic recovery, the finance ministry said Thursday. The government has executed 227.7 trillion won ($216 billion) in spending as of the end of the third quarter, accordi...

Updated : 2014.10.23 20:49

S. Korea's terms of trade snaps 4-month fall in Sept.

South Korea's terms of trade rose in September as a fall in import prices outweighed that of export prices, ending a four-month streak of decline, central bank data showed Thursday.The country's net terms-of-trade index for goods reached 90.37 last month, rising 0.7 percent on-year, accord...

Updated : 2014.10.23 12:05

[Graphic News] Korea’s coffee imports to hit record

The amount of coffee imported to Korea is expected to reach a record high this year amid burgeoning demand, according to statistics from the Korea Customs Service.The agency said coffee ― including g...

Updated : 2014.10.22 20:12

Seoul shares up 1.13% on Wall Street gains

South Korean stocks ended 1.13 percent higher Wednesday as investor sentiment was boosted by overnight gains in the U.S. market, analysts said. The South Korean won gained ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) moved up 21.69 points to 1,936...

Updated : 2014.10.22 19:46

Unfavorable conditions, competition to weigh down key industries

Unfavorable economic conditions at home and abroad, as well as stiffer competition, are expected to weigh down key South Korean industries such as electronics and autos in 2015, market watchers said Wednesday.In a gathering hosted by the Federation of Korean Industries (FKI), analysts from...

Updated : 2014.10.22 14:11

S. Korea's tax collection down 300 bln won in 1st eight months: finance ministry

South Korea's national tax revenue declined by about 300 billion won (US$281 million) on-year in the January-August period due to the slowing economic recovery, raising worries that the government might face tougher income conditions, government data showed Tuesday.According to the data pr...

Updated : 2014.10.21 10:18

[Graphic News] Korean currency, stocks trail Asia rivals

South Korean currency and stocks have been the worst performers among emerging markets in Asia this month amid concerns of a slow economic recovery and a set of negative external factors, market data ...

Updated : 2014.10.20 21:22

[SUPER RICH] Rise of the new breed

The rich are generally considered to be somber, strictly guarding their privacy and loath to mingle with strangers. However, this typical image does not seem to fit the profile of the youngest daughte...

Updated : 2014.10.20 21:11

Seoul shares up 1.55% on tech, auto shares

South Korean stocks ended 1.55 percent higher Monday on strong tech and auto shares, although the jump seems to be a moment in passing, analysts said. The South Korean won gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 29.40 points to...

Updated : 2014.10.20 20:55

FTC to step up crackdown on large firms abusing market power: FTC chief

The head of South Korea's antitrust watchdog said Monday the agency will intensify its crackdown on large retailers and franchise headquarters abusing their power in deals with smaller business partners."We will step up our efforts to prevent large retailers and franchise headquarters from...

Updated : 2014.10.20 12:16

S. Korean currency, stocks most volatile in Asia

South Korean currency and stocks have been the worst performers among emerging markets in Asia this month amid concerns of a slow economic recovery and a set of negative external factors, market data showed Sunday.According to the data, the South Korean won tumbled 2.06 percent against the...

Updated : 2014.10.19 13:22

Hyundai Motor rewards national archery team

Hyundai Motor Group, a steady patron of Korean archery, on Friday offered the national archery team with 880 million won ($830,000) to recognize their strong performance in the recently concluded Inch...

Updated : 2014.10.17 21:26

U.S. steelmakers demand antidumping action on Korean welded API line pipes

U.S. steelmakers called for tough antidumping action against South Korea welded API line pipes that could effectively block export of the products, a local traders association said Friday.According to the Korea International Trade Association, American Cast Iron Pipe Co. and seven other co...

Updated : 2014.10.17 21:25