Samsung Electronics loses market share in mobile phones, TVs

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Seoul's income from foreign patients grows 7-fold in 4 yrs

The city of Seoul earned nearly 300 billion won (US$269.5 million) last year from foreign patients seeking medical services in the metropolis, marking a more than seven-fold increase from four years earlier, according to the city government on Sunday.Hospitals and medical clinics based in ...

Updated : 2014.11.23 11:41

S. Korea's recovery momentum remains weak: finance minister

South Korea's economy is steadily improving from a slump thanks to government-led stimulus efforts, but the recovery momentum still remains weak, the finance minister said Friday."Our economy is steadily improving out of the second-quarter slump, driven by expansionary macroeconomic polici...

Updated : 2014.11.21 09:34

Moody’s retains credit rating on Korea at ‘Aa3’

Global rating agency Moody’s Investors Service said Thursday that it has retained its sovereign credit rating on South Korea at “Aa3.”“Korea has a strong external position, supported by its competitive export industries and large holdings of official foreign exchange reserves that redu...

Updated : 2014.11.20 21:22

Seoul shares end lower on ailing investor sentiment

South Korean stocks lost ground Thursday as conflicting economic signals caused institutions and retail investors to offload holdings. The local currency fell against the U.S. dollar. Starting the day on the negative side, the benchmark Korea Composite Stock Price Index gave up more ground...

Updated : 2014.11.20 21:21

Saving energy can be new growth engine: KEMCO

Trade Minister Yoon Sang-jik (front row, sixth from right) and KEMCO chief Byun Jong-rip (front row, seventh from right) pose with awardees at the Energy Saving Promotion Contest on Wednesday. (KEMCO)...

Updated : 2014.11.20 21:16

S. Korea unlikely to achieve growth target this year

South Korea is unlikely to reach its 2014 growth objective as domestic demand remains weak and there are few signs that the growth rate will pick up sharply during the rest of the year, experts said Thursday.In July, the government revised down its growth estimate for 2014 to 3.7 percent f...

Updated : 2014.11.20 10:21

Structural reforms key to achieving sustainable growth: BOK chief

Ongoing expansionary measures taken by many countries to help boost their economies are stop-gap measures for economic rebalancing, the chief of South Korea's central bank said Thursday, stressing that structural reforms are key to preventing future crises and inducing sustainable growth."...

Updated : 2014.11.20 09:56

Korea’s producer prices down for 3rd month in October

Producer prices in South Korea declined for a third straight month in October, due mainly to decreasing oil prices and a fall in prices of vegetables and other agricultural goods, central bank data showed Wednesday.The producer price index, a barometer of future consumer inflation, stood a...

Updated : 2014.11.19 21:08

Public opinion toward businesses, entrepreneurs improves in 2014: report

Public opinion in South Korea towards businesses and entrepreneurs improved this year compared to 2013, with less people feeling animosity towards companies, a report by a local economic think tank showed Wednesday.According to the Korea Economic Research Institute (KERI), 65 percent of th...

Updated : 2014.11.19 14:06

Number of jeonse leases with deposits over W1b rises fivefold

Seoul apartments that cost more than 1 billion won ($910,000) in jeonse deposits, or lump-sum rentals, jumped fivefold in the past five years, a South Korean realtor said Tuesday. Rent deposits of about 11,432 apartments among 1.2 million jeonse leases in Seoul surpassed 1 billion won, an ...

Updated : 2014.11.18 21:25

Silicon Valley-funded Korean upstart

Inconvenience was what first got Lee Seung-gun, the head of FinTech startup Viva Republica, and his four colleagues to think about creating a mobile transaction app that will somehow mitigate "everybody's pain in their neck." It takes a great deal of patience when it comes to online banki...

Updated : 2014.11.18 10:48

Korea to open 60% of food market under FTA with New Zealand

South Korea is set to liberalize its market for nearly 60 percent of agricultural and fishery imports, including beef, from New Zealand under its bilateral free trade agreement with the country in the southwest Pacific, the South Korean government said Monday.Under the proposed FTA, South ...

Updated : 2014.11.17 21:19

Seoul shares trade lower on foreign selling

South Korean stocks traded lower late Monday morning on net selling by foreign and retail investors as the market weighed the impact of the Shanghai-Hong Kong direct stock connect program.The benchmark Korea Composite Stock Price Index (KOSPI) stood at 1,938.31 as of 11:20 a.m., down 0.35 ...

Updated : 2014.11.17 13:29

S. Korean part-time workers top 2 mln: data

The number of part-time workers in South Korea has topped the 2-million mark, data showed Monday, as the government is striving to create more jobs amid concerns that Asia's fourth-largest economy may relapse into a slowdown.According to the data compiled by Statistics Korea, the number of...

Updated : 2014.11.17 10:31

S. Korea sees proportion of trade with Japan hit all-time low

South Korea saw the proportion of its trade with Japan drop to an all-time low this year amid strained bilateral relations and the yen's continued fall that makes Korean goods less attractive in overseas markets, government data showed Monday.According to the data provided by Statistics Ko...

Updated : 2014.11.17 10:30