South Korean stocks traded 0.27 percent higher late Monday morning as foreign investors scooped up local shares, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) advanced 5.25 points to 1,963.04 as of 11:20 a.m.Mobile carriers led the market gain, with leading SK Telecom increasing 2.94 percent and No. 2 player KT moving up 4.17 percent.No. 3 player LG Uplus climbed 3.91 percent.Shipbuilders also traded higher, with Daewoo Shipbuilding & Marine Engineering rising 0.17 percen

South Korean stocks began higher Monday as investor sentiment got a boost from last week's gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.45 percent, or 8.84 points, to 1966.63 in the first 15 minutes of trading.Shares gathered ground across the board, with tech behemoth Samsung Electronics increasing 0.14 percent and top steelmaker POSCO adding 1.81 percent. Leading builder Hyundai Engineering & Construction moved up 1.46 percent.U.S. stocks e

South Korean 20-somethings were found to eat the least among all age groups in 2012, Statistics Korea said on Sunday.A survey of meal consumption by age group in 2012 found that those aged between 25 and 29 skipped 3.8 meals per month on average, followed by those aged 20 to 24 skipping 3.7 meals. Considering gender, females in their late 20s skipped the most meals, at 4.5 meals per month on average, the governmental agency said.“Meal consumption correlates with income level,” Kim Mi-sook from T

U.S., Japan stocks climb as KOSPI continues slide

The number of South Koreans traveling overseas in January spiked, mostly driven by the local currency’s steep ascent, which is giving them more price incentives to go abroad, industry data showed Sunday.Hanatour Service Inc., the largest local travel company, said that overseas travelers using its service jumped 30.7 percent on-year in January to about 185,000. This is the monthly record high for the company, surpassing the 159,000 registered in August last year. Of the total, 48.5 percent chose

South Korea’s stock market may inch up this week on strong exports though it will likely move in a very tight range, analysts said.The benchmark Korea Composite Stock Price Index closed at 1,957.79 on Friday, up 0.6 percent from a week earlier.The KOSPI had a weak start last week as the local currency continued to rise against the U.S. dollar, raising concerns over weak earnings by major exporters.The Korean won gained 19.6 percent against the Japanese yen last year, putting South Korean exporte

Apple Inc. passed Samsung Electronics Co. to become the top mobile phone maker in the U.S. for the first time, scoring a victory in the companies’ battle for global dominance of the mobile-device market.Apple sold 17.7 million mobile phones in the U.S. during the fourth quarter, a 38 percent jump from a year earlier, research firm Strategy Analytics said Friday in a statement. That gave it 34 percent of the market, topping Samsung, which sold 16.8 million handsets for a 32 percent market share.

Facility investment by businesses in South Korea will likely contract for three consecutive years from 2013 as companies remain reluctant to spend in the face of toughened and cloudy market conditions, a survey showed Sunday.Corporate investment in facilities is expected to decline 1.4 percent on-year to a combined 127.9 trillion won ($116.5 billion) this year, according to the survey by the Korea Finance Corp. The survey was conducted on 3,251 businesses across the country.Last year, companies

South Korea’s wage and income account deficit hit a record high in 2012 as local companies paid more for foreign workers here than income brought in by Korean laborers working overseas, data showed Sunday.According to the data by the Bank of Korea, income earned by foreign workers in Korea came to about $1.15 billion last year, down 2.8 percent from a year earlier. Income earned by Korean workers abroad shrank 13.8 percent on-year to $647.1 million.As a result, the country’s wage and income acco

The current global currency row is expected to continue for the time being as monetary easing by major economies will likely spur emerging markets to take tougher moves to stem the appreciation of their currencies, a report said Friday. The stimulus plans by the United States and Japan have escalated foreign exchange volatility, sparking a currency conflict between the two global economic powerhouses and prompting other countries to hurry to curb the ascent of their currencies, according to the

Woori Financial Group saw its 2013 brand ranking, assessed by The Banker, climb more than 300 notches from last year.Woori ranked 77th in the yearly list of the top 500 banking brands by The Banker, a London-based financial magazine, a jump from 389th in 2012.Shinhan Financial Group and KB Financial Group took the positions of 51st (57th in 2012) and 65th (76th in 2012), respectively.Hana Financial Group, which acquired Korea Exchange Bank a year ago, also made the list at No. 116. Last year Woo

Three-quarters of 72 listed firms lower estimates of operating profit