Import settlements in euro, won up in Q2

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Import settlements in euro, won up in Q2

The portion of the euro and the Korean won used to settle imports to South Korea both rose to a fresh high in the second quarter, central bank data showed Wednesday.The use of the euro accounted for 6.3 percent of all import settlements in the April-June period, the highest level since 6.3...

Updated : 2015.07.29 13:31

S. Korean steel firms face anti-dumping suit in U.S.

South Korean steelmakers have been sued by their rivals in the United States on anti-dumping charges, a trade association here said Wednesday. AK Steel and four other major U.S. steelmakers filed anti-dumping and countervailing duty petitions against South Korea and seven other countries, ...

Updated : 2015.07.29 11:38

Cabinet OKs casino cruise plan

A cruise vessel is docked at a port in this file photo. (Yonhap) Korean cruise vessels will be able to operate onboard casinos for foreign passengers when sailing overseas from as early as next year,...

Updated : 2015.07.28 18:30

Police say 41 phone fraud offenders arrested in China

South Korean police said Tuesday they have arrested 41 people in China for alleged telephone-based financial scams in rare cooperation with their Chinese counterparts.The Seoul Metropolitan Police Agency said they arrested 39 South Koreans and two ethnic Koreans in China for allegedly open...

Updated : 2015.07.28 17:48

Gasoline prices hit 6-year low in H1

Gasoline prices in South Korea dipped to the lowest level in six years in the first half of this year due to falling crude oil prices, the state-run oil company said Tuesday. The average gasoline price stood at 1,514.5 won ($1.29) per liter in the January-June period, the lowest since earl...

Updated : 2015.07.28 13:30

Smart appliances market to grow sharply in next 5 yrs

The global market for smart home appliances is forecast to grow by more than twofold annually over the next five years, buoyed by advancement in the Internet-of-Things technology, a report said Tuesday. Production of consumer electronics, whose functions will be connected to other mobile d...

Updated : 2015.07.28 10:46

Gov't set to extend eased mortgage rules for another year

The government will extend a temporary measure to ease mortgage regulations for another year in a bid to prop up the local economy that is showing budding signs of recovery, the financial watchdog said Tuesday.In August last year, newly minted Finance Minister Choi Kyung-hwan announced the...

Updated : 2015.07.28 10:44

Foreign start-ups seek legal clarity

This is the seventh and final article in a series on foreigners working in Korea’s technology start-up ecosystem. ― Ed.PinStory, a food recommendation start-up in Seoul, is the poster image of diver...

Updated : 2015.07.27 20:12

Korea to create 200,000 jobs for youth by 2017

The government unveiled Monday a plan to create more than 200,000 jobs for those aged between 15 and 34 by 2017 in collaboration with six major business associations.The measures mapped out by five mi...

Updated : 2015.07.27 18:49

Does Korea benefit from FTA with EU?

July 1 marked the fourth anniversary of the EU-Korea free trade agreement, which entered into force in 2011. It was touted as the first of a new generation of FTAs, going further than any previous agr...

Updated : 2015.07.27 18:31

S. Korea's venture investment surges in H1

Investment in South Korean venture firms soared nearly 40 percent in the first half of 2015 from a year earlier due largely to government support measures to foster their growth, data showed Monday. A total of 517 venture startups received a combined 956.9 billion won ($816.1 million) in i...

Updated : 2015.07.27 14:55

S. Korea to create 200,000 new jobs for youth by 2017

South Korea plans to create 200,000 new jobs for the youth by 2017 while also working to permanently increase employment opportunities for young adults, the government said Monday.The country's jobles...

Updated : 2015.07.27 14:52

S. Korea's GNI per capita to top $40,000 in 2023: think tank

South Korea's per capita gross national income is forecast to reach $40,000 as late as 2023, a local think tank said Monday, as the country is mired in a period of low growth.According to the prediction by the Korea Economic Research Institute, the country's per capita GNI is expected to t...

Updated : 2015.07.27 10:29

S. Korea's GDP may slip for first time since 2009

South Korea's per capita gross domestic product may drop on-year in 2015 for the first time since the global financial crisis amid a feeble global economy and a weakening won, some economic institutions said Monday.LG Economic Research Institute, the think tank of business conglomerate LG,...

Updated : 2015.07.27 10:25

Top 10 biz groups' regular workers up in Q1: data

The number of regular workers hired by South Korea's top 10 business groups edged up in the first quarter of this year from a year earlier as they try to hire more employees on a stable employment contract, industry data showed Monday.According to the data provided by market tracker Chaebu...

Updated : 2015.07.27 10:23