Childbirth grows over 10%

Childbirth in Korea grew over 10 percent in January from a year earlier as improving economic conditions encouraged couples to have more babies, a government report showed Wednesday.According to the report by Statistics Korea, the number of babies born in January stood at 47,500, up 10.7 percent, or about 4,600 from the same month a year earlier. The January figure marked the 11th consecutive on-y

IndustryMarch 23, 2011

SKT to export RFID reader technology

SK Telecom, the country’s top mobile carrier, said Wednesday it has signed a deal for the first exports of its universal subscriber identification module, which could help businesses better manage products such as liquor and pharmaceuticals.SKT said that the company and its Chinese partner Sunnada Communication Co., a leading wireless coverage solution provider in China, agreed in Beijing to sell

IndustryMarch 23, 2011

Energy costs to face upward pressure: minister

Japan’s earthquake will likely exert upward pressure on energy prices over the short term as the disaster, along with unrest in Arab countries, increases market volatility, the finance minister said Wednesday.“The massive earthquake in Japan is expected to disrupt supply and demand of major energy resources over the short haul, possibly causing price fluctuations,” Finance Minister Yoon Jeung-hyun

IndustryMarch 23, 2011

Tariff-free import quotas to be raised for livestock

South Korea, battling outbreaks of foot-and-mouth disease and bird flu, will increase tariff-free import quotas of breeding pigs, chickens for breeding and seed corn to ease a shortage and stabilize prices.The government boosted the quotas for breeding pigs to 5,000 from 1,850 head and to 661,000 from 461,000 for breeding chickens, the Ministry of Strategy and Finance said Wednesday. The measures

IndustryMarch 23, 2011

Hyundai Heavy opposes HMM share sale plan

Hyundai Merchant Marine Co., the biggest unit of Korea’s Hyundai Group, jumped the most in almost four months in Seoul trading as opposition to a share sale plan prompted speculation it may be a takeover target.The shipping line rose by the daily limit of 15 percent limit, the biggest climb since Nov. 30, to close at 33,250 won in Seoul. The stock was the second-best performer on the KOSPI index W

IndustryMarch 23, 2011

Loan rules to hurt home sales

Reinstating debt-to-income caps may further weaken property marketKorea’s plans to reinstate mortgage lending limits that were temporarily scrapped in August to spur property transactions may lead to a further decline in the real estate market. Korean banks will resume restrictions on the amount of loans homebuyers can get as a proportion of their annual income starting in April, the government sa

March 23, 2011

Jobs to be deposed in iTunes antitrust suit

SAN FRANCISCO (AFP) ―A federal judge has cleared the way for Apple’s ailing leader Steve Jobs to be deposed in a class-action lawsuit charging the iPod maker turned iTunes into a digital music monopoly.U.S. Magistrate Judge Howard Lloyd ruled on Monday that attorneys for the plaintiffs may question Jobs for a total of two hours, but only about an iPod update making RealNetworks digital music inope

IndustryMarch 23, 2011

Survey shows Internet-savvy S. Koreans spend more time online

South Koreans now spend more time online and on mobile phones than five years ago, a survey said Wednesday, the latest sign that the Internet has become a daily necessity for many people in one of the world's most wired countries.   South Koreans surf the Internet for an average of 37 minutes during weekdays, up 25 minutes from 2005, according to the findings of a research institute of KBS, a majo

TechnologyMarch 23, 2011

Apple to roll out iPad 2 in S. Korea next month

Apple Inc. said Wednesday that it will roll out the iPad 2 tablet computer in South Korea next month amid worries that high U.S. demand and component shortage may delay overseas shipments.Apple will release the iPad 2 in 25 countries, including France and Germany, this Friday and in Hong Kong, South Korea and Singapore next month, the company said in a press release. "We're experiencing amazing demand for iPad 2 in the U.S., and customers around the world have told us they can't wait to get thei

TechnologyMarch 23, 2011

Watchdog to unveil Woori Finance sale plan by June

South Korea's financial watchdog plans to announce its road map to resume the sale of a major stake in state-owned Woori Finance Holdings Co. by the second quarter of this year, its chief said Wednesday.   The Financial Services Commission (FSC) put the 56.97 percent government stake in the second-largest banking group up for sale in November last year but suspended the sale process in December af

March 23, 2011

Kia Motors delays exports of K5 sedan to Europe

Kia Motors Corp., South Korea's second-largest automaker, said Wednesday it has decided to delay the scheduled launch of its popular K5 passenger sedan in the European market until the second half of the year due to an undersupply.   The vehicle, currently sold as the Optima in the U.S. market, was initially scheduled to be shipped to Europe in the first half of the year.   "We earlier planned to

IndustryMarch 23, 2011

Samsung unveils thinner tablet computers in U.S.

Samsung Electronics Co., the world's No. 2 maker of mobile phones, unveiled on Wednesday two new tablet computers aimed for the U.S. market, eying a bigger market share on Apple Inc.'s home turf with ultra-thin devices.   Samsung unveiled the company's third tablet computer, the Galaxy Tab 8.9, and a U.S. version of the Galaxy Tab 10.1 during a trade show in Orlando, Florida, it said in a statemen

IndustryMarch 23, 2011

Seoul to tighten rules on home loans amid rising household debts

South Korea will tighten its rules on loans for home purchases amid growing concerns that rising household debts could emerge as a drag on the nation's economic recovery, the government said Tuesday.The plan, announced jointly by the finance, public administration and land and construction ministries, however, calls for the government to lower acquisition tax rates for home purchases in a bid to b

March 22, 2011

Hyundai taps into Brazil car market

Hyundai Motor Co. launched the midsized truck Mighty in Brazil on Monday, tapping into South America’s largest commercial vehicle market. The Mighty trucks sold in Brazil will be shipped as complete knockdown kits and assembled at CAOA Group’s facility in Anapolis in the state of Goias, the company said.CAOA Group is also responsible for sales of Hyundai vehicles in Brazil.The company has set the

MobilityMarch 22, 2011

Japanese fishery imports drop

Korean imports of Japanese fishery products have dropped in the past week due to consumer concerns over their possible contamination with radiation and disruptions in supply in the neighboring country, the customs office said Tuesday.Before the 9.0-magnitude quake struck Japan on March 11, Korea’s daily weekday imports of fishery products from the country averaged $3.4 million, according to the Ko

IndustryMarch 22, 2011