Tech giant calls Africa last emerging market, pushes for tech-boosted corporate social activities

Free trade deals with the United States and the European Union have helped support South Korea’s exports, making up for declining overseas sales of the country’s goods affected by the prolonged global economic slump, customs data showed Tuesday.South Korea implemented free trade agreements with the U.S. and the EU in March of this year and July of last year, respectively. The worldwide economic slump led to a drop or relatively small growth in exports to those markets but sales of products benef

The South Korean economy is projected to expand at the 2-percent range in 2013 from this year, dampened by exhausted global stimulus measures and unabating eurozone debt troubles, foreign investment banks (IBs) said Tuesday. As of end-November, 10 global IBs, including Nomura and UBS, estimated the growth rate for Asia's fourth-largest economy to average 3 percent for 2013 and 2.3 percent this year, according to their data compiled by the Korea Center for International Finance (KCIF). Korea mark

Korea will invest 930 billion won ($858.7 million) until 2020 to boost the nano industry as part of its efforts to make the country one of the world's top three players in the area, the government said Tuesday.The envisioned investment consists of 650 billion won set aside by the central government for its budget and 280 billion won assigned by the private sector and municipal governments, according to the Ministry of Knowledge Economy. The money will be spent on research and development activit

South Korean stocks opened lower Tuesday as poor U.S. data stoked growing concerns about a lackluster recovery, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) lost 0.41 percent, or 7.96 points, to 1,932.06 in the first 15 minutes of trading.Most shares traded in negative territory, with market bellwether Samsung Electronics falling 0.7 percent and top air carrier Korean Air dipping 0.23 percent.The Dow Jones industrial average closed down 0.46 percent after U.S. manufactur

A delegation composed of 14 government and business leaders will hold talks with their U.S. counterparts for bilateral economic cooperation in Washington this week, the Korea Chamber of Commerce and Industry said Monday.The Korean leaders included Knowledge Economy Minister Hong Suk-woo, KCCI chairman Sohn Kyung-shik, and Samsung Electronics vice chairman Kang Ho-moon.They are scheduled to visit Atlanta, Georgia and Washington, D.C. between Dec. 4-8. This will mark the first time for the two cou

British Airways resumed its direct flights between Seoul and London on Monday, upping its efforts in the growing Asian aviation market.Starting on Monday, the air carrier operates two airplanes ― BA17 and BA18 ― six times a week non-stop between Seoul’s Incheon International Airport and London’s Heathrow Airport. It was the company’s return to Korea 14 years after its route between Gimpo and Heathrow was shut down during the Asian Financial Crisis in the late 1990s. “We celebrate a milestone in

South Korean stocks closed 0.37 percent higher on Monday as foreigners snapped up local shares amid easing eurozone fears and positive economic data, analysts said.The local currency slipped against the U.S. dollar. The benchmark Korea Composite Stock Price Index gained 7.12 points to 1,940.02. Trading volume was moderate at 304.6 million shares worth 3.3 trillion won ($3 billion), with decliners outnumbering gainers 484 to 318. “We saw some positive economic data in China and South Korea as wel

The government launched an energy-saving campaign for the winter season with related public and private organizations, including the Korea NGO’s Energy Network, on Monday. The launch of the campaign was noticed in advance as a series of breakdowns of nuclear power plants due to different reasons triggered concerns of a power shortage during the winter. The campaign, which will last until Feb. 22, 2013, targets both citizens and large-sized office buildings. For citizens, the campaign will advise