SEOUL, Jan. 25 (Yonhap) -- South Korea's leading conglomerates are estimated to have increased their cash holdings last year, raising hopes for ample dividends, investment officials said Wednesday with supportive data.Samsung Electronics, the head of the pack, on Tuesday announced last year'
SEOUL, Jan. 25 (Yonhap) -- South Korea's economy grew at a slower pace in the fourth quarter than three months earlier on decreased demand and construction investments, central bank data showed Wednesday.In the October-December period, the country's gross domestic product rose 0.4 percent fr
SEJONG, Jan. 25 (Yonhap) -- South Korea's trade ministry on Wednesday held a meeting with U.S. business people to seek ways to bolster bilateral economic cooperation under the new Trump administration.In a breakfast meeting with the American Chamber of Commerce in Korea (AMCHAM) in Seoul, Vice T
SEOUL, Jan. 24 (Yonhap) -- South Korea's terms of trade improved in December from a year earlier as a slight rise in import prices was offset by a hike in export prices, central bank data showed Tuesday.The terms of trade index for products came to 102.63 last month, up 1.9 percent from a year e
SEOUL, Jan. 24 (Yonhap) -- Woori Bank, a major South Korean lender, said Tuesday that it has won approval from the Polish financial regulatory authority to set up a representative office in the eastern European country.Woori Bank said it will open its representative office in the southwestern city o
SEOUL, Jan. 24 (Yonhap) -- SK Telecom Co. said Tuesday it has signed a contract with Vietnam's second biggest mobile carrier for the establishment of a long-term evolution (LTE) network throughout the Southeast Asian country.The LTE service helps smartphone users access and stream data faster th
SEOUL, Jan. 24 (Yonhap) -- South Korea on Tuesday ordered Hyundai Motor Co., Kia Motors Inc., and Renault Samsung Motors Co. to recall their diesel models with gas emissions that exceed legal limits in recent tests.The Ministry of Environment ordered the recall of Hyundai's Tucson 2.0, Kia's
SEOUL, Jan. 24 (Yonhap) -- CJ CGV, South Korea's largest cinema chain, said Tuesday it will open its second U.S. theater in Buena Park, California, this week.Located on the third floor of the new The Source OC shopping center, the CGV-Buena Park will open on Friday with 1,187 seats and eight scr
SEOUL, Jan. 24 (Yonhap) -- Eggs imported from Australia via another overseas supply chain will become available to food manufacturers later this week, a local company said Tuesday, as South Korea copes with an egg shortage due to an avian influenza epidemic.Jeju Miin said it received an air shipment
SEOUL, Jan. 24 (Yonhap) -- The use of 50,000 won (US$42.85) denominated banknotes has become more widespread, replacing smaller 10,000 won bills, central bank data showed Tuesday.According to the Bank of Korea (BOK), the circulation of 10,000 won banknotes at the end of last year was 16.24 trillion
SEOUL, Jan. 24 (Yonhap) -- Popular augmented reality (AR) game "Pokemon Go" was officially released in South Korea on Tuesday, six months after becoming a global hit with millions of downloads.Users can download the Pokemon Go official application from Google Play store and Apple's App store,
SEOUL, Jan. 24 (Yonhap) -- LG Display Co., a flat panel maker, said Tuesday that it swung to the black in the fourth quarter from a year earlier, largely thanks to a rise in panel prices and a diversified product portfolio.Its net profit reached 825 billion won (US$706 million) in the October-Decemb
SEOUL, Jan. 24 (Yonhap) -- Samsung Electronics Co. said Tuesday its operating profit for the fourth quarter of 2016 jumped 50.11 percent on year, thanks to rising prices of semiconductors and display panels.Operating profit, which excludes income from subsidiaries, stood at 9.2 trillion won (US$7.89
SEOUL, Jan. 23 (Yonhap) -- SK Holdings Co., the holding firm of energy and telecom conglomerate SK Group, said Monday that it has decided to buy a controlling stake in LG Siltron Co., a local producer of wafers used in semiconductor manufacturing, for 620 billion won (US$532 million), as part of eff
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SEOUL, Jan. 23 (Yonhap) -- Embattled shipbuilder Daewoo Shipbuilding & Marine Engineering Co. plans to implement 2.5 trillion won (US$2.14 billion) worth of self-rescue measures this year, larger than last year's 1.6 trillion won, as it strives to stay afloat amid a sharp fall in new orders, com
SEOUL, Jan. 23 (Yonhap) -- Hyundai Heavy Industries Co. and its two local rivals -- Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. -- are estimated to have recovered last year from their worst-ever performance the previous year, industry sources said Monday.But their i
SEOUL, Jan. 23 (Yonhap) -- South Korea's trade has turned upward after a two-year lull, but it is likely to miss the US$1 trillion target again this year and possibly next year as well, the central bank said in its estimate Monday.The Bank of Korea (BOK) projected a trade volume of $955 billion
SEOUL, Jan. 22 (Yonhap) -- South Korea was ranked ninth on an international survey of financial literacy, the country's central bank said Sunday, a sign that Seoul should expand economic and financial education for its people.South Korea received 66.2 points out of a possible 100 on the survey,
SEOUL, Jan. 22 (Yonhap) -- South Korea's financial regulatory body on Sunday announced a set of new measures and tougher punishment to fight accounting fraud.The Financial Services Commission (FSC) cited the need for a "fundamental policy prescription" to enhance the transparency of accounting