The benchmark KOSPI was expected to experience an extended rally for the next few months on a new round of capital inflows forthcoming in May, analysts said Monday amid forecasts that local stock markets would hold up well despite unfavorable external conditions. “Foreigners are expected to continue their buying spree with renewed interest in the region. May is also the time when doubts about oil

GM Korea Co., the South Korean arm of U.S.-based GM, began testing its electric vehicle the Chevrolet Volt in Korea on the road on Monday.The week-long test drive will be conducted by the U.S. Embassy to Korea, with a specialist engineer from GM Korea.The vehicle will be used by the U.S. Embassy for official functions for one week until April 24. The Volt being tested by the embassy will also be u

Large-scale maintenance project in Vietnam involves three SK Energy Korean subcontractorsSK Energy, the refining unit under the nation’s largest oil refiner SK Innovation, said Monday that it helped its subcontractors launch an overseas project in Vietnam as part of its efforts for promoting “shared growth.” Three partner firms ― JCon Corp., UBEC Inc and Daechang HRSG Corp. ― will carry out the re

CEO reveals push for partnership with multinational pharmaceutical firmsKorea’s stem cell research is slowly showing signs of a renaissance as many scientists strive to mend its reputation, marred by a case of scientific fraud six years ago.Although the 2005 incident involving Prof. Hwang Woo-suk, once hailed as a global cloning pioneer, led to a slump in human embryonic stem cell study here, othe

Global carmakers rolling out new SUVs, luxury sedans and concept cars at auto showHONG KONG (AP) ― Global automakers are bringing their flashiest SUVs, luxury sedans and electric concept cars to Auto Shanghai, China’s biggest auto show of the year, as the industry reels from disruptions caused by the massive earthquake and tsunami in Japan last month.The show has become one of the industry’s most

Treasury secretary says Republicans agreed to increase the $14.3 trillion ceilingWASHINGTON (AP) ― Treasury Secretary Timothy Geithner says Republican leaders have privately assured the Obama administration that Congress will raise the government’s borrowing limit in time to prevent an unprecedented default on the nation’s debt.But a top Republican quickly pushed back Sunday and said there was no