LG Display’s loss narrows in Q4

LG Display Co., the world’s second-largest maker of liquid crystal display (LCD) panels, said Friday that it logged a smaller net loss in the fourth quarter from a year earlier.Net loss amounted to 6.25 billion won ($5.57 million) in the October-December period, smaller than a 268.4 billion won loss a year ago, the company said in a regulatory filing.The fourth-quarter figure also narrowed from a record net loss of 688 billion won in the third quarter, according to LG Display, which vies with to

IndustryJan. 27, 2012

Kia Motors posts record earnings

Kia Motors Corp. reported record-high earnings last year on the back of its upgraded brand image and robust sales growth in overseas markets.The automaker posted about 3.5 trillion won ($3 billion) in net profit in 2011, up 30 percent from a year earlier.Its vehicle sales reached 43.2 trillion won last year, up 20.6 percent from a year before. Its operating profit also jumped 41.6 percent to 3.5 trillion won.Kia’s outstanding performance is attributable to the brisk sales of its automobiles base

MobilityJan. 27, 2012

Hynix well-positioned for new era of mobile devices: report

HONG KONG (Yonhap) -- South Korea‘s Hynix Semiconductor Inc. is well-positioned for the new era of mobile devices driving the growth of memory chip markets, as it can supply a total memory solution for mobile gadgets, a report said Friday.BNP Paribas said in its report that Hynix Semiconductor is one of the few manufacturers that fit that new era, raising the target price for Hynix to 34,000 won ($30.2) to 30,000 won. “The three decades of personal computer (PC)-driven dynamic random access memo

IndustryJan. 27, 2012

Gov‘t, central bank concerned about slowing export growth

South Korea’s exports will likely grow at a much slower pace in 2012 than last year as the eurozone debt problems and the global economic slowdown could weaken demand, the finance ministry and the central bank said Friday.The government needs to push for export-boosting measures tailored to each country and beef up efforts to diversify its export markets, according to a statement unveiled after the ministry and the Bank of Korea held a consultation meeting.The meeting was attended by Vice Financ

Jan. 27, 2012

Seoul shares end up 0.39% on increased foreign buying

South Korean stocks finished 0.39 percent higher on Friday, as overseas investors extended their buying spree despite the country’s weak growth data, analysts said.The local currency fell against the U.S. dollar. Extending a winning streak for a fifth consecutive session, the benchmark KOSPI rose 7.65 points to 1,964.83. Trading volume was moderate at 442 million shares worth 6.03 trillion won ($5.37 billion) with gainers leading losers 492 to 331. Even though the KOSPI has posted gains for five

Jan. 27, 2012

Samsung Q4 profit surges 17% on smartphones

Samsung Electronics said Friday its fourth-quarter earnings surged 17 percent from a year earlier on the back of stronger sales in smartphones and flat screens.The technology giant’s net income reached 4 trillion won ($3.5 billion) in the October-December period, registering the largest gain since the third quarter of 2010. Revenue went up 13 percent to an all-time high of 47.3 trillion won and operating profit climbed 75.8 percent to 5.3 trillion won in the same period. The figures were largely

TechnologyJan. 27, 2012

Hana Financial allowed to acquire KEB

Financial regulators endorsed the deal between Hana Financial Group and Lone Star Funds to trade shares of Korea Exchange Bank.Hana Financial has been allowed to take over KEB, which was owned by the U.S.-based fund since 2003, the Financial Services Commission said Friday.The FSC ultimately has not accepted the opinion among a group of lawmakers and the KEB union that Lone Star has been ineligible to own the bank and the merger deal is invalid.There have been continuous speculations that Lone S

Jan. 27, 2012

Twitter able to now selectively block tweets

Twitter said Thursday that it now has the ability to block tweets from appearing in a specific country if legally required to do so."As we continue to grow internationally, we will enter countries that have different ideas about the contours of freedom of expression," Twitter said in a blog post."So

TechnologyJan. 27, 2012

Apple’s iPad leads surge in tablet shipments, research firm says

Tablet-computer shipments more than doubled in the fourth quarter, reflecting demand for Apple Inc.’s iPad and Amazon (AMZN).com Inc.’s new Kindle Fire, according to market-research firm Strategy Analytics. Global tablet shipments rose to a record 26.8 million units in the last three months of 2011,

TechnologyJan. 27, 2012

Home births in U.S. rise to highest level on record, health study shows

Home births rose 29 percent from 2004 to 2009, to almost three quarters of a percent of all U.S. live deliveries, the highest level since 1989, according to health authorities. They were most common among non-Hispanic white women, where about 1 in 90 births are at home, according to a report from th

TechnologyJan. 27, 2012

‘KARI, NASA discuss moon satellite launch’

Korea could launch a satellite to orbit the moon in collaboration with the U.S.’s National Aeronautics and Space Administration.A Korean daily reported Thursday that the Korea Aerospace Research Institute and NASA are discussing a collaborative lunar exploration project.According to the report, KARI and NASA held two rounds of talks with government officials in attendance last year, and plan to sign an agreement in March or April. The report quoted NASA’s Belgacem Jaroux as saying that the two o

TechnologyJan. 26, 2012

Bank loan delinquency ratio eases to two-year low in Dec.

Korean banks’ loan delinquency rate fell to its lowest level in two years in December, thanks to a massive settlement of sour loans last month, the country’s financial watchdog said Thursday.The overall delinquency rate of bank loans to companies and households reached 0.89 percent as of the end of December, down 0.54 percentage point from the previous month, according to the Financial Supervisory Service. The rate is measured based on loans that are overdue for more than one day.The December fi

Jan. 26, 2012

NEXON to merge with mobile affiliate

NEXON, the country’s top game company, said Thursday it will merge with its affiliate NEXON Mobile in a bid to strengthen its mobile platform.The two firms signed an agreement for the merger on Thursday and it is expected to be completed by April, according to NEXON officials.NEXON Mobile, established in September 2001, is known for launching several popular games such as MapleStory and KartRider Rush.“The measure was put in place to focus on the growth of the mobile business with NEXON’s intell

IndustryJan. 26, 2012

Ruling imminent on Lone Star’s eligibility to own bank: FSC

Financial regulators are close to ruling on Lone Star Funds’ eligibility as the biggest shareholder of Korea Exchange Bank.“Inspectors have been in the last-minute review on the issue as to whether Lone Star has been a non-financial investor (which is banned from owning a local bank),” Financial Services Commission chairman Kim Seok-dong told reporters Thursday.But Kim said the FSC has yet to decide whether to announce its stance on the U.S.-based equity fund at the panel discussion, slated for

Jan. 26, 2012