...e financial regulator said Monday. Foreigners sold a net 772 billion won ($709.4 million) of Korea’s listed shares last month, further reducing local share holdings following their net selling of 3.7...cal firms’ earnings growth also helped.” Meanwhile, overseas investors’ net holdings of the nation’s bonds rose for a second month on purchases from the U.S. and China. Bonds held by foreign investo...

Korea’s deposit insurance agency said Monday it plans to put most of the seven suspended savings banks up for sale from as early as this month as part of the country’s widening efforts to revamp the ailing financial segment. In February, the country’s financial regulator Financial Services Commission (FSC) suspended the savings banks, including top player Busan Savings Bank and its four affiliat...

The world’s largest shipyard Hyundai Heavy Industries announced Monday that its Shanghai-based Global Research and Development Center began operations this month. According to the company, the R&D c...nter will first focus on developing new products and technologies in areas concerning Hyundai Heavy’s current operations in China including construction equipment and engines. In the long term, the ce...

Four Korean companies have pulled out from the nation’s consortium planning to bid for a contract to build and operate a bullet train network in Brazil, company officials said. The four companies, including Hyundai Amco Co. and Kolon Engineering & Construction Co., notified the consortium of some 20 firms last week that they pulled out, citing an uncertainty in financial prospects for the Brazil...

...fall this year as the four-river project is now in full swing for completion by the end of the year. In 2009, the Lee Myung-bak administration launched the 22 trillion won project to refurbish Korea’s four major rivers, saying it would help prevent floods and enhance water quality. Opposition parties, religious groups and environmental activists have been trying to stop the project, which they s...

... saw the check card use stay at less than 10 percent of the credit card use. To promote the public’s check card usage, the FSC has been in talks with the National Tax Service to offer check cardholde...2010, up 30 percent from 35,000 a year earlier. A senior local banker welcomed the chief regulator’s move, saying, “The kind of tough warning is necessary as a preemptive measure. The market should n...

...ght to cancel the Sejong City plan, which had been established by the previous administration. Lee’s efforts to revise the special law on the administrative city ― in order not to move central admini...ct. The people of Chungcheong are afraid that the government could abandon them, and Lee Hoi-chang’s Liberty Forward Party based in the Chungcheong provinces vows a “life and death struggle” to deter...

...ppeals, he canceled the plan, but he eventually presided over the Quran burning event on March 20. Why Afghanistan was the first to react in the Arab world can be explained by President Hamid Karzai’s reckless mentioning of the incident in the U.S., which Afghan people were largely unaware of. In a public address, the Afghan president condemned the Quran burning four days after it took place, demanding that the American pastor be brought to j...

...socialists are coming to take away our incandescent lightbulbs. Seriously, this is one of Bachmann’s big causes. She happens to be flat wrong on the facts, but people who pay attention to facts proba...t kind of lightbulb to buy,” she declares, but as she continues to imply that this law is all Obama’s doing, here’s the fun part she always leaves out: The law was passed in 2007 with strong bipartis...