Production slowdown, strong currency signal weak growth, analysts say

Uniqlo, a casual apparel designer and manufacturer based in Japan, is at risk of being evicted from its Myeong-dong location, the largest site yet for the company in Asia. The Seoul District Central Court recently ruled in favor of 14 plaintiffs who have ownership over the space of Uniqlo’s Korean operations run by Fast Retailing Korea. The judge said that the building managers were found to have rented out the building to Uniqlo without consulting or notifying the plaintiffs, and therefore, the

The head of Ssangyong Motor Co. said Tuesday the automaker’s parent company Mahindra and Mahindra Ltd. balked at investing in his company due to a political dispute over labor troubles at South Korea’s smallest automaker.Lee Yoo-il, Ssangyong’s chief executive officer, told reporters that his company will hold a board of directors meeting later this month to discuss an investment decision meant to develop new vehicle models.Lee did not disclose details of the planned investment.His comment came

South Korea ranked the second-most innovative country in the world, moving up one notch from last year’s ranking, data showed on Tuesday. According to data complied by financial news and data provider Bloomberg, Korea ranked No. 2 behind the United States, which topped the list by climbing six notches from last year. The research indicated progress in Korea’s innovation-related sector as it rose one slot in rankings from last year’s No. 3 spot.Bloomberg gathered data from 200 countries and grade

A German company has introduced a pen that instantly detects errors in spelling and grammar. The pen senses and vibrates when the user makes mistakes, with a choice of two modes -- calligraphy and orthography. The calligraphy mode checks problems with legibility while the latter function focuses on finding incorrect grammar. The company Lernstift used a built-in sensor that buzzes when it detects words written erroneously.The inventors of the high-tech pen, married couple Falk and Mandy Wolsky,

South Korean stocks ended 0.77 percent lower on Tuesday as investor sentiment was dented by rising concern over North Korea's nuclear test, analysts said Tuesday. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 15.03 points to 1,938.18. Trading volume was moderate at 361.3 million shares worth 3.7 trillion won (US$3.4 billion), with decliners far outpacing gainers 602 to 215."Rising geopolitical risks stemming from North Korea's pledge

Confectioneries with over W20b in annual sales barred from opening too many new stores

SK Telecom Co., the country's top mobile operator, on Tuesday reported a two-fold growth in its fourth-quarter profit from a year earlier due to a decrease in marketing costs.Net profit came to 519.1 billion won (US$477.5 million) in the October-December period, compared with a profit of 195.5 billion won a year earlier, SK Telecom said in a regulatory filing.Revenue rose 6 percent on-year to 4.2 trillion won, and operating profit jumped 37.6 percent to 544.6 billion won.The stronger bottom line