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Top North Korean official visits China
PYONGYANG, North Korea - In an indication that North Korea may give diplomacy a chance to end regional tension, its leader Kim Jong Un Wednesday sent a special envoy to China to win the confidence of its most important ally. The trip by Vice Marshal Choe Ryong Hae, a senior Workers' Party official and the military's top political officer, comes after months of ignoring Chinese warnings to ...
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Retail sales in South Korea fall
Retail sales in South Korea decreased last month as domestic demand remained in the doldrums amid the sluggish economic recovery, a government report showed Thursday. Total sales at three major discount outlets, including E-Mart, Lotte Mart and Homeplus, declined 9.8 percent in April from a year earlier, according to the Ministry of Trade, Industry and Energy. Combined sales at three major ...
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UAE-Korea economic forum to be held in Seoul
The Third UAE-Korea Economic Partnership Forum begins May 27 in the South Korean capital city of Seoul. UAE Minister of State Abdulla Ghobash will lead a delegation of officials and heads of governmental agencies to the two-day event. The forum has the support of the Ministry of Foreign Affairs, Ministry of Economy, Federation of UAE Chambers of Commerce and Industry, Department of Economic ...
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Kuwait crude oil exports to S. Korea up 14.4 percent
WAM ABU DHABI, May 23rd, 2013 (WAM): Kuwait's crude oil exports to South Korea in April grew 14.4% from a year earlier to 11.08 million barrels, or 369,000 barrels per day (bpd), according to latest data released by the state-run Korea National Oil Corporation. As South Korea's number-two supplier, Kuwait provided 16.0% of the Asian nation's total crude oil imports in April, ...
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DPRK proposes to South Korea to mark 13th anniversary of Joint Declaration of June 15 2000
TOKYO, May 23 (Itar-Tass) - North Korea has proposed to South Korea to hold events to mark the 13th anniversary of the inter-Korean Joint Declaration of 15 June 2000, South Korea’s Yonhap news agency reported on ...
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5-year-old girl killed by suicide jumper in South Korea
The man dies on the spot The girl is taken to a hospital with a skull fracture South Korea has one of the highest suicide ...
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Jumper kills girl in South Korea
Seoul - A seven-year-old South Korean girl was killed instantly after being struck by the body of a man as he plunged from his tenth-floor apartment in an apparent suicide, a report said on ...
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Tokyo Seoul hold ugly nuclear option
if you are interested in contributing. North Korea's nuclear weapons program is undermining regional stability in Northeast Asia, with the present crisis on the Korean Peninsula again prompting the neighboring states into seriously reconsidering their national security policies. This is particularly the case for Japan, against which North Korea has deployed, ...
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Japans Gain Isnt South Koreas Pain
South Korea's economic problems aren't made in Japan. That isn't the way it looks in the two rival exporters' stock markets. Investors convinced that Japan's weakening yen will help its companies claw global market-share back from Korean competitors have bought almost $75 billion worth of Japanese stocks so far this year. Part of that appears to have come at the expense ...
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Seoul shares drop 1.2 pct Nikkei China PMI spark investor jitters
Thu May 23, 2013 3:28am EDT * Chinese PMI, Nikkei tumble spark investor worries * Telcos find favour as investors seek high-dividend issues * Crude oil, chemicals issues lead falls SEOUL, May 23 (Reuters) - South Korean shares dropped 1.2 percent on Thursday after a slide in Japanese stocks and weak Chinese factory data hit investor sentiment, with chemical makers and energy-linked shares ...
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S.Korea to take 1st Iran LPG cargoes in 7 months -sources
SEOUL | Thu May 23, 2013 3:08am EDT SEOUL May 23 (Reuters) - South Korea will receive a shipment of Iranian liquefied petroleum gas (LPG) for the first time since imports were halted last October due to European sanctions that made it difficult to get shipping insurance, sources said on Thursday. South Korean LPG importer E1 Corp bought 33,000 tonnes of propane and 11,000 tonnes of ...
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S. Koreas economic growth to accelerate in 2014 think tank
South Korea's economic growth was expected to accelerate next year as the global economic recovery would improve both exports and domestic demand in Asia's No.4 economy, the state-run thank tank forecast Thursday.The South Korean economy was predicted to expand 2.6 percent in 2013 before jumping 3.6 percent in 2014, the Korea Development Institute (KDI) said in a report. The 2013 ...
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As yen tumbles Japans gain isnt S Koreas pain
South Korea's economic problems aren't made in Japan. That isn't the way it looks in the two rival exporters' stock markets. Investors convinced that Japan's weakening yen will help its companies claw global market-share back from Korean competitors have bought almost $75 billion worth of Japanese stocks so far this year. Part of that appears to have come at the expense ...
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Michelin star chef heads new restaurant in Seoul
Sardinian chef Roberto Petza assembles an amuse-bouche, starting with a base of carrot soup, layering it with slivers of bamboo, adding thin, short wands of almonds before topping it off with slices of raw oyster. Careful, deliberate and exacting, Petza is busy at work in the kitchen of his latest gastronomic adventure, Harmonium. "I like Korea," Petza, 45, explained why he decided ...
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UPDATE 1-S.Korea needs to keep easy policy for while think tank
Thu May 23, 2013 12:23am EDT * Easy policy can stay for extended period - think tank * Economic growth slow, inflation extremely low * Retail, credit data shows depressed consumer confidence By Choonsik Yoo SEOUL, May 23 (Reuters) - South Korea needs to maintain an expansionary monetary policy for a longer period as the economy is growing slower than forecast while inflation eases to a 14-year ...
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S.Korea Q1 household credit growth slumps to 8-yr low
SEOUL | Wed May 22, 2013 11:00pm EDT SEOUL May 23 (Reuters) - South Korea's annual household credit growth eased to the slowest rate in more than eight years over the first quarter, data showed on Thursday, underscoring a deepening slump in consumer spending. Household credit at the end of March was up 4.9 percent year-on-year at 961.6 trillion won ($863.29 billion), from a 5.2 ...
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Seoul shares slip amid Fed worries SK Hynix telcos shine
Wed May 22, 2013 10:39pm EDT * Foreign investors poised to end buying streak * SK Hynix firm on profit jump in Q2 * Telcos win favour as investors seek safer, high-dividend issues SEOUL, May 23 (Reuters) - Seoul shares pulled back from 7-week highs on Thursday on concerns the U.S. Federal Reserve may start to wind down its stimulus programme in coming months, buy firm gains in telecommunication ...
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Bangladesh S. Korea climbers die while descending Everest
Two climbers have died while descending from the summit of Mount Everest on Monday night, officials confirmed. The climbers have been identified as Mohammad Khalid Hussain of Bangladesh and Sung Ho-Seo of South Korea. Khil Lal Gautam, official at Tourism Ministry, said that Ho-Seo, who had climbed the peak without supplemental oxygen, refused to put on oxygen mask on returning to tent as ...
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Asia Markets Tokyo stocks soar as Sydney Seoul retreat
HONG KONG (MarketWatch) -- Australian and South Korean stocks dropped Thursday on worries the Federal Reserve could downscale its bond purchases, while Japanese shares marched to fresh multiyear highs as several exporters got a lift from the weakened ...
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S.Korea April department store sales fall vs year ago
SEOUL | Wed May 22, 2013 4:59pm EDT SEOUL May 23 (Reuters) - Sales at South Korea's top department store and discount store chains both fell in April from a year earlier for the first time in three months, underscoring shaky consumer confidence. Sales at department stores run by Hyundai Department Store , Lotte Shopping and Shinsegae fell by a combined 1.9 percent in April from a ...
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South Korea trade deal produces bleak first-year results for U.S.
WASHINGTON - More than a year after it took effect, a highly touted trade deal with South Korea has failed to produce as expected for the U.S.: Exports are down, imports are up and the trade deficit with the Asian economic powerhouse has ballooned. In Washington state, where global trade is now linked to 2 of every 5 jobs, trade backers are happy: Exports of aircraft and parts to Korea rose ...
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Third UAE - Korea Economic Partnership Forum will commence on May 27 in Seoul
WAM DUBAI, May 22nd, 2013 -- Under the patronage of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Third UAE - Korea Economic Partnership Forum begins on next Monday in South Korean Capital, Seoul. Minister of State, Abdulla Ghobash will be leading a UAE delegation of officials and representatives of the participating sectors and ...
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S.Koreas economic effectiveness remains lower than advanced economies
South Korea's economic effectiveness remained low compared with those in advanced economies, indicating that the economy depended on quantitative expansion in labor and capital for its growth, the local think tank said Wednesday.Total factor productivity, which measures economic effectiveness, of South Korea accounted for 3.15 percent of its economic growth between 1981 and 2005, lower than ...
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South Korea Japan US defense chiefs to meet
Commander of the U.S. Naval Forces Korea, Rear Adm. William C. McQuilkin, left, salutes as Rear Adm. Michael S. White, commander of the Nimitz Strike Group, right, smiles from U.S. nuclear-powered aircraft carrier USS Nimitz upon its arrival at Busan port, south of Seoul, South Korea, Saturday, May 11, 2013. Ahead of the U.S. carrier’s visit to South Korea, North Korea on Friday called ...
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S.Korea to launch $1.8b fund for small venture companies
South Korea planned to launch 2 trillion won ($1.8 billion) worth of funds to enhance access to the equity capital market by small, venture companies with innovative technology, the financial regulator said Wednesday."Our growth ecosystem showed shortfall in fund inflow into startup and venture companies that have high risks due to their uncertainties and asymmetric information," ...
South Korea Focus
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South Korea's tool for northern diplomacy
A 66 square kilometre industrial complex just over the border is an important part of reconciliatory efforts between South Korea and the North. It is important to the economy as well, but its diplomatic significance runs far deeper.
The Kaesong Industrial Complex is the only industrial special administrative region that still exists as a joint agreement between North and South Korea. Following the sinking of the ROKS Cheonan, relations between the two countries deteriorated significantly, with South Korea accusing the North of the attack and the North subsequently denying involvement. Read more
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