South Korean stocks ended 0.84 percent higher on Tuesday, as automakers and technology firms rebounded from their recent slides, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 16.25 points to 1,955.96, snapping four straight sessions of losses. Trading volume was moderate at 459 million shares worth 4.57 trillion won (US$4.21 billion), with gainers outnumbering decliners 440 to 350. "The KOSPI's recent drops stoked i

Jan. 29, 2013

South Korean stocks traded 0.82 percent higher late Tuesday morning, buoyed by gains in automakers and technology firms, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 16 points to 1,955.71 as of 11:20 a.m.Market bellwether Samsung Electronics rose 2.41 percent and top automaker Hyundai Motor surged 5.04 percent.In contrast, POSCO slipped 0.84 percent ahead of its fourth-quarter earnings release scheduled for later in the day. The local currency was trading hands at

Jan. 29, 2013

South Korean stocks began higher on Tuesday as key exporters returned to positive territory after recent losses, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.55 points, or 0.39 percent, to 1,947.26 in the first 15 minutes of trading.Market bellwether Samsung Electronics rose 1.38 percent, poised to stem a four-session losing streak, while top automaker Hyundai Motor gained 1.26 percent.The local currency was trading at 1,088.6 won to the U.S. dollar as of 9:15

Jan. 29, 2013

South Korean stocks closed 0.36 percent lower on Monday as key exporters lost ground amid concerns over a strengthening won and a lack of strong upward momentum, analysts said. The local currency tumbled against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) slipped 6.98 points to 1,939.71. Trading volume was light at 336.2 million shares worth 4.33 trillion won (US$3.96 billion), with decliners outnumbering gainers 433 to 378."Unfavorable foreign exchange conditions, we

Jan. 28, 2013

The global economy is likely to face a currency war this year, triggered by Japan's drive to weaken its currency through an open-ended asset-buying program, a central bank policymaker said Monday. "It is not an exaggeration that the global economy will face a currency war. An atmosphere of protectionism is spreading," Ha Sung-keun, a policymaker on the seven-member monetary policy committee of the Bank of Korea (BOK), told reporters.Japan's drive to weaken its currency aimed at propping up its f

Jan. 28, 2013

South Korean stocks traded 0.46 percent lower late Monday morning due to losses in blue-chip exporters, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 9.03 points to 1937.66 as of 11:20 a.m.Big-cap tech names led the decline, with market bellwether Samsung Electronics plunging 2.75 percent and the leading electronic components maker Samsung Electro-Mechanics falling 3.11 percent. Top steelmaker POSCO also shed 3.41 percent.Carmakers also traded in negative territory,

Jan. 28, 2013

South Korean stocks got off to a weak start on Monday as investors shed holdings amid lingering concerns over fourth-quarter corporate earnings, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.71 points, or 0.55 percent, to 1,935.98 in the first 15 minutes of trading.Key exporters lost ground. Market bellwether Samsung Electronics, which announced its quarterly results on Friday, slumped 2.19 percent and top steelmaker POSCO fell 1.09 percent.The local currency was

Jan. 28, 2013

As tensions on the Korean Peninsula soar amid the North's military threats, U.S. experts are calling for full-fledged consultations between Washington and Beijing on ways to deal with Pyongyang.They emphasize that major dialogue between the superpowers, also involving South Korea, is necessary not only to prevent another conflict on the peninsula but also to prepare for possible emergencies in the North."If Washington and Beijing fail to coordinate and communicate, we could face the possibility

North Korea Jan. 28, 2013

The absence of Jang Song-thaek, uncle of North Korean leader Kim Jong-un, at a key national security meeting may be a sign of a renewed power game inside the reclusive communist nation's leadership, a U.S. expert said Sunday.Jang, vice chairman of the National Defense Commission, did not attend the meeting of top North Korean officials handling security and foreign affairs, in which Kim ordered "substantial and high-profile important state measures," according to Pyongyang's official media.Kim r

North Korea Jan. 28, 2013

South Korea began preparations Monday for what will be the third launch of the Korea Space Launch Vehicle-1 (KSLV-1) by moving the space rocket to its launch pad.The KSLV-1, also known as Naro, is set to blast off Wednesday from the country's Naro Space Center in Goheung, South Jeolla Province, located 480 kilometers south of Seoul.The transfer of the space rocket from its storage facility to the launch pad began earlier in the day, and Naro is expected to be in place around 5 p.m., according to

Technology Jan. 28, 2013

The number of male workers taking paternity leave soared nearly 30 percent last year, but their rate still came far behind that of their female counterparts, government data showed Monday.According to the data compiled by the Ministry of Employment and Labor, the number of male employees getting paternity leave in2012 came to 1,790, up 27.6 percent from a year earlier.Since the measure was introduced in 1987, the number of fathers applying for the time off has been on a steady rise, with only tw

Industry Jan. 28, 2013