South Korean stocks closed 0.23 percent lower on Thursday as the prolonged currency volatility continued to weigh down the market, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) edged down 4.42 points to 1,931.77. Trading volume was moderate at 407.2 million shares worth 3.5 trillion won (US$3.22 billion) with losers outpacing gainers 410 to 383."Due to the prolonged appreciation of the local currency against the Japanese ye

A U.S. federal court ruled in favor of LG Electronics Inc. in a technology patent infringement suit lodged by French telecommunications giant Alcatel-Lucent SA.A jury in a San Diego federal court on Tuesday (local time) found LG and Apple Inc. did not copy patents, including a video compression technology, held by Multimedia Patent Trust (MPS), a unit of the Paris-based telecommunications equipment maker.The Alcatel-Lucent subsidiary filed the suit in December 2010, claiming several LG phones su

South Korean stocks traded almost flat late Thursday morning as the currency's volatility continued to weigh down on investor sentiment, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.06 percent, or 1.2 points, to 1,937.39 as of 11:20 a.m.Blue-chip exporters edged up, with market bellwether Samsung Electronics increasing 0.14 percent and top chipmaker SK hynix adding 1.43 percent. No. 1 carmaker Hyundai Motor moved up 0.25 percent.Retailers lost ground, with Lo

South Korea's economy is facing slowing employment and sluggish domestic consumption despite overall improvements in other major indicators, a government report showed Thursday, emphasizing that it will continue its policy efforts to boost economic vitality down the road. "Recently, our economy is seeing its inflation stabilize with production, investment, exports and other major indicators also improving," the finance ministry said in the monthly report that analyzes the latest economic trends

South Korean stocks began higher Thursday on the back of gains in blue chip exporters, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.26 percent, or 5.07 points, to 1941.26 in the first 15 minutes of trading.Blue chip exporters led the overall gain, with market behemoth Samsung Electronicsclimbing 0.28 percent and No. 1 carmaker Hyundai Motor adding 0.75 percent. Top chipmaker SK hynix also advanced 1.02 percent.Logistics shares also gathered ground, with Hyundai Gl

Commercial banks’ profitability and earnings fell to their lowest since the 2009 global financial crisis due mainly to low interest rates.According to the Financial Supervisory Service, Korean banks saw their three major indices for profitability mark a three-year low in 2012.“The banking industry reported a worse performance in three indices ― return on assets (0.49 percent), return on equity (6.41 percent) and net interest margin (2.1 percent),” the FSS said in a statement.The weak profitabili

The global market share of South Korea’s top automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. hit a record high in 2012 as robust sales around the world offset sluggish domestic performance, a U.S. marketing firm said Wednesday.A total of 7.101 million Hyundai and Kia vehicles were delivered last year, accounting for 8.8 percent of the global market share, up 0.2 percentage points from a year earlier, according to J.D. Power and Associates. In particular, the two firms’ com

SEJONG (Yonhap News) ― The amount of narcotics confiscated in South Korea jumped in 2012 as the nation’s crackdown efforts and international cooperation to prevent drug smuggling intensified, the customs office said Wednesday.The Korea Customs Service said in a report that it confiscated a total of 33.8 kilograms of drugs like methamphetamine and cannabis last year, up 15 percent from a year earlier.Methamphetamine, also known as philopon, came to 20.9 kilograms, an amount that could be administ

Some North Korean companies and government-linked business bodies have devised preemptive measures to avoid possible Chinese financial sanctions to be imposed when the North carries out its threatened nuclear test, sources said Thursday.   "There have been signs that North Korean trade firms and government agencies are withdrawing money from their Chinese bank accounts or changed their names to open new accounts," said one source in Beijing with knowledge on the matter.   The moves started after

South Korean stocks ended almost flat on Wednesday as the prolonged currency volatility and North Korea’s threat of a nuclear test continued to weigh down the market, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 0.1 percent, or 1.99 points, to 1,936.19. Trading volume was moderate at 342.9 million shares worth 3.5 trillion won ($3.3 billion) with gainers outpacing losers 461 to 338.“Despite the gains on Wall Street overnight,