South Korean stocks traded 0.22 percent higher late Thursday morning, led by gains in blue-chip tech firms, analysts said.   The benchmark Korea Composite Stock Price Index (KOSPI) added 4.33 points to 2,005.53 as of 11:20 a.m.    Top-cap tech heavyweight Samsung Electronics soared nearly 2 percent, with flat panel giant LG Display shooting up 2.5 percent.  In contrast, domestic-focused telecom shares trended in negative territory. No. 1 mobile carrier SK Telecom fell 2.6 percent and smallest pl

South Korean display maker Samsung Display Co. kept its dominant position in the market for liquid crystal display (LCD) panels that are 9.1 inches or smaller in the first quarter, data showed Thursday.Sales of smaller display panels by Samsung Display reached $2.24 billion in the January-March period, accounting for 23.5 percent of the global market, according to the data by market researcher DisplaySearch. The first-quarter figure is up 28.5 percent from $1.75 billion in sales a year earlier,

South Korean stocks opened slightly higher Thursday, led by gains in auto-related shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 3.1 points, or 0.15 percent, to 2,004.30 in the first 15 minutes of trading. No. 1 carmaker Hyundai Motor gained nearly 1 percent, with its smaller affiliate Kia Motors jumping nearly 2.4 percent. Its auto-parts maker Hyundai Mobis also advanced 1.2 percent. The local currency was trading at 1,127.85 won against the U.S. dollar a

South Korea's industrial output grew in April for the first time in four months amid still lingering economic uncertainties, a government report showed Thursday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries increased 0.8 percent last month from a month earlier. From a year ago, it grew 1.7 percent, bouncing back from two consecutive months of contractions.The output in the service sector also grew 0.2 percent on-month in Apri

Korea’s ranking in terms of economic competitiveness remained unchanged at 22 among 60 countries in 2013 for the third straight time, according to the Switzerland-based International Institute for Management Development.Asia’s fourth largest economy earned high marks for having a high education level, skilled workforce and reliable infrastructure.However, it received poor scores in the areas of cost of living, tourism and direct investment flows.Its weaknesses also included having high tariff ba

Suspects held accounts in British Virgin Islands, Hong Kong and Panama

Officials vow thorough probe into suppliers’ manipulation of reports

Meritz Fire & Marine Insurance Co. is under fire for reporting to regulators a massive leak of customers’ personal data three months after the fact. The insurance firm went through a massive leak of personal data of some 164,000 clients back in February, which went unreported to state regulator Financial Supervisory Service until Tuesday. The company issued a public statement and online apology about the delayed report the next day.“It was hard to understand how a case so severe got to us so lat

LG Chem, one of the world’s leading makers of lithium-ion batteries, has been selected by Southern California Edison to deliver the largest battery energy storage system in the U.S., the Seoul-based company chemicals company said on Wednesday. The project, named Tehachapi Wind Energy Storage Project, funded by the Department of Energy, involves powering up a 32 MWh battery energy storage system for Southern California Edison, a dominant electricity supplier in Southern California, company offici

Pernod Ricard Korea plans to collaborate with Korea Maritime University in preserving the marine environment in Busan.The Korean unit of France’s beverage giant said Wednesday that it had inked a memorandum of understanding with the university to launch the project. Officials promised to support environmental research in Busan over the next three years.The company said it will put 1,000 won ($0.88) from each sale of Imperial Classic 12 City Edition-Busan, a brand exclusively for regional consume