South Korea posted a budget surplus for two years in a row in fiscal 2016 as its tax revenue rose sharply on increased corporate and value added taxes, the finance ministry said Friday.The gross revenue that the government brought in last year came to 345 trillion won (US$299.7 billion), while its e
Sales of South Korea's No. 2 automaker Kia Motors Corp. in Mexico jumped more than five times from a year earlier in 2016, suggesting a possible solution to a newly proposed U.S. tax on foreign-made cars that could affect Kia vehicles produced in the Central American nation, market observers and
Lee Kun-hee, the chief of South Korea's top conglomerate Samsung Group, retained his No. 1 spot on the list of annual dividend income earners for the eighth consecutive year last year, according to regulatory documents on Friday.Dividend payments to Lee, chairman of the group's flagship Sams
Apple Inc.'s iPhone has the biggest storage capacity among 10 smartphones manufactured by global tech firms, data showed Friday.The average storage capacity of iPhones came to 66 gigabytes during the third quarter of last year, the data by research firm CounterPoint showed.Apple shipped its late
South Korea's food service industry is forecast to remain in the doldrums due to anemic consumption and other negative factors, a government report showed Friday.The current business survey index for the food service industry decreased to 65.04 for the fourth quarter of last year from 67.51 thre
The supply of goods both locally produced and imported in South Korea rose at the fastest pace in three years in the fourth quarter of last year, aided by a boom in the chipmaking and construction sectors, government data showed Thursday.The index of domestic manufacturing supply gained 3.6 percent
South Korean banks' household loans increased at a modest pace last month on interest rate hikes and less trade in the housing sector, the central bank said Thursday.Loans extended to households here rose 100 billion won (US$87.1 million) in January, far less than the 3.4 trillion won recorded a
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, said Thursday that it has signed a letter of intent with a U.S. firm to build up to seven floating storage and regasification units (FSRUs).Under the deal with Excelerate Energy, Daewoo Shipbuilding will receive an order
Hyundai Motor Co., South Korea's top automaker, didn't report cash donations to two controversial foundations to its board two years ago, sources said Wednesday, sparking questions over managerial transparency.In October and December 2015, Hyundai Motor donated a combined 6.88 billion won (U
A man in his 30s with a hand transplant has been recovering fast from the surgery last week, raising the prospect that the first hand transplant in South Korea will be a success, a hospital said Monday.A team of surgeons performed a 10-hour hand transplant on the man on Thursday at the Yeungnam Univ
The South Korean government said Monday that flaws in batteries caused the fires in Samsung Electronics Co.'s Galaxy Note 7, which led to a worldwide recall and production halt of the smartphone.In a test conducted by the state-run Korean Agency for Technology and Standards, it was found that el
Samsung Electronics Co. on Monday announced its withdrawal of membership from the nation's top business lobby as the Federation of Korean Industries (FKI) was blamed for its role in a snowballing corruption scandal that led to the impeachment of President Park Geun-hye.Samsung Electronics formal
Sales of imported vehicles in South Korea grew slightly from a year earlier in January, market data showed Monday, signaling a possible recovery in the sector still struggling with an emissions scandal.The number of imported cars newly registered here in January came to 16,674, up 2.7 percent from 1
The projected dividend yield rate of South Korea's listed firms lags far behind that of foreign companies listed on other advanced and emerging markets, a brokerage said Monday.South Korea's projected dividend yield rate -- the ratio of dividends per share to the current share price -- was 1
South Korea's agriculture ministry said Sunday it has received a report of suspected outbreak of foot-and-mouth disease in the central county of Boeun and a diagnosis is under way.The Ministry of Agriculture, Food and Rural Affairs said the report came from a dairy farm of 195 cows in Boeun, 180
South Korea's self-sufficiency rate of grain, beef and seafood sharply fell last year as imported food items appealed to consumer tastes with their lower prices and variety of flavors, according to government data on Sunday.The nation's self-sufficiency rate of grain, excluding feed for anim
Sales of imported trucks in South Korea surged by over 70 percent last year, despite a contraction of about 7 percent in local sales of all imported vehicles, an industry tally showed Sunday. The Korea Automobile Manufacturers Association said a total of 7,726 imported trucks were sold here in 2016,
SK Telecom Co., South Korea's top mobile carrier, said Sunday it will build a network for the so-called Internet of Things (IoT) in Bangkok and Phuket.Under a contract with Thailand's state-owned CAT Telecom, signed last Friday, SK Telecom plans to build the network and start a trial service
The global market for automotive semiconductors is expected to grow 7.1 percent annually by 2020, fueled by strong investment by carmakers into electric and self-driving cars, according to a market estimate on Sunday. With semiconductor demand for cars growing, Samsung Electronics Co. and SK
HWASEONG, Gyeonggi Province, Feb. 4 (Yonhap) -- Four people were killed Saturday as a fire broke out at a shopping mall connected to a couple of residential skyscrapers in Dongtan new town in Hwaseong, Gyeonggi Province, fire authorities said.The fire started at a kids park on the third floor of the