European funds unload stocks, bonds on Seoul market: data

European funds valued at about 5.5 trillion won ($5 billion) are estimated to have pulled out of South Korea’s stock and bond markets since August according to the country’s financial regulators’ data, underscoring the volatile sentiment gripping jittery investors.The sell-off came after the histori

Sept. 13, 2011

Brokerages lack financial health

Data shows Korean firms lag behind foreign rivals in soundnessKorean securities firms are of weak financial soundness compared to foreign brokerage houses in Korea, a regulatory report has shown.Data from the Financial Supervisory Service showed Tuesday that 42 local brokerages posted an average net

Sept. 13, 2011

Buffett adds investment exec as part of succession

OMAHA, Nebraska (AP) -- Berkshire Hathaway has hired a second hedge fund manager to help run the company's investment portfolio and prepare for what it described as the eventual retirement of 81-year-old billionaire Warren Buffett.Berkshire said Monday that Ted Weschler will join the Omaha-based com

Sept. 13, 2011

Wayward penguin 'Happy Feet' missing in action

WELLINGTON, New Zealand (AP) -- The wayward penguin known as ``Happy Feet'' is missing in the Southern Ocean.Experts tell The Associated Press the most likely scenario is that the emperor penguin's satellite transmitter fell off. The small unit was attached to his feathers with super glue and was de

TechnologySept. 13, 2011

CJ Cheiljedang aims at China's frozen dumpling market

HONG KONG (Yonhap News) – South Korea's largest food company CJ Cheiljedang Corp. plans to enter China's frozen dumpling market in a bid to expand its presence in the world's most populous market, company officials said Monday.CJ DCH Guangdong Frozen Food Co., a joint venture between CJ Cheilj

IndustrySept. 12, 2011

Consumer complaints about social commerce sites on rise

An increasing number of customers of social commerce sites said they were dissatisfied with faulty contracts or poor services offered by business operators, a report showed Monday.Social commerce, a business model that is most well known through U.S. online commerce site operator Groupon Inc., gener

IndustrySept. 12, 2011

Seoul shares to track reaction to Obama's jobs speech next week

Amid an absence of major events next week, the South Korean stock market is expected to be largely influenced by the political reactions following U.S. President Barack Obama's jobs proposal, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) wrapped up this week at 1,812

Sept. 10, 2011

Samsung Electronics loses key lawsuit against Apple in Germany

DUSSELDORF, Germany, Sept. 9 (Yonhap) -- A German court on Friday turned down a request by Samsung Electronics Co. to nullifyApple Inc.'s injunction granted earlier to ban the sale and marketing of its Galaxy Tab tablet computer in the European country.The Dusseldorf court decision dealt a blow to t

TechnologySept. 9, 2011

Samsung Electronics loses key lawsuit against Apple in Germany

DUSSELDORF, Germany (Yonhap News) – A German court on Friday turned down a request by Samsung Electronics Co. to nullify Apple Inc.'s injunction granted earlier to ban the sale and marketing of its Galaxy Tab tablet computer in the European country.The Dusseldorf court decision dealt a blow to

IndustrySept. 9, 2011

STX’s Finnish subsidiary wins $420m order

STX Group announced Friday that its European subsidiary signed a $420 million contract to build to well intervention vessels for Norway’s Eide Marine Services AS.A well intervention vessel is a ship designed to carry out works related to underwater oil and gas wells ranging from pre-drilling surveys

IndustrySept. 9, 2011

Rainy weather lifts producer prices

The unusually heavy rains and typhoons of the past two months caused prices of fresh produce to rise by the steepest pace since April, the central bank said Friday.Producer prices of fresh vegetables and fruits advanced 6.6 percent in August from a year earlier, signaling rapid price increases in pr

Sept. 9, 2011

LG enters launderette market

LG Electronics on Thursday opened a self-service laundry in New York equipped with only its products as it pushes to expand business-to-business sales in the United States.The self-service laundry will be operated by Coinmach Corp., the largest laundry service in the U.S. According to LG Electronics

IndustrySept. 9, 2011