Local residents’ acquisition of overseas real estate reached $49.5 million in the first three months of this year, government data showed Sunday.The figure represents an increase from $27.7 million recorded during the last quarter of last year but falls far short of $63 million, the quarterly average between 2010 and 2011, according to the Ministry of Strategy and Finance.North America was the most popular destination between January and March for South Korean real estate buyers, accounting for

BEIJING (Yonhap News) ― South Korea and China can conclude bilateral free trade negotiations in two years if both sides find a compromise on “sensitive issues” for each other, such as agricultural and fishery products for Seoul, President Lee Myung-bak said in an interview televised Saturday.Earlier this month, Seoul and Beijing declared the launch of government-level negotiations to forge a bilateral pact to free up trade between the two of Asia’s biggest economies. The first round of talks are

The Yeosu Expo site is located inside Yeosu City, a southern coastal port in South Jeolla Province, the nation’s southwestern region.For visitors from Seoul and the surrounding Gyeonggi Province, the most convenient way to get to the venue is to take the KTX, or Korean Train Express. Yeosu Expo Station connects to Gate 3 of the Expo directly, minimizing the walking distance for visitors. KTX passengers can also get 30 percent off their train fare if they show their Expo tickets to the ticketing

U.S. President Barack Obama on Saturday sent a congratulatory message for the opening of the Yeosu Expo and expressed a close bond to its maritime theme, saying he grew up living by the sea.Images of sea life and the marine environment floated across a large water screen as Obama spoke in a video message projected onto it. The speech marked the opening of the U.S. Pavilion at the 2012 World Expo, which opened in the southern coastal city of Yeosu early in the day. The global fair, themed “The Li

Local residents' acquisition of overseas real estate reached $49.5 million in the first three months of this year, government data showed Sunday.The figure represents an increase from $27.7 million recorded during the last quarter of last year but falls far short of $63 million, the quarterly average between 2010 and 2011, according to the Ministry of Strategy and Finance.North America was the mos

Trade ministers from South Korea, Japan and China said on Saturday that they agreed to push to launch negotiations for a three-way free trade agreement by the end of this year.The agreement reached in Beijing by South Korean Trade Minister Bark Tae-ho, Japanese Economy, Trade and Industry Minister Yukio Edano and Chinese Commerce Minister Chen Deming is to be recommended to a trilateral summit sla

South Korean stocks are expected to be influenced by European political developments and U.S. economic data next week, local analysts said Saturday.The country's key stock index, the KOSPI, closed at 1,917.13 on Friday, a drop of 3.62 percent or 72.02 points from a week earlier, mainly due to anti-austerity election results in France and Greece and disappointing U.S. labor market reports. The KOSP

Hanwha Group said Friday that it will start the construction work of a solar power plant in Portugal. The group said its affiliate Hanwha Solar has recently formed a consortium with Martifier Solar, a Portuguese photovoltaic energy firm, to build a 17.6-megawatt solar power plant in Lisbon. Even though the construction of the power plant was not scheduled to be completed until March next year, officials said it would be possible to start electricity generation in phases from as early as December

South Korean stocks closed 1.43 percent lower Friday on lack of upward momentum and growing European debt concerns, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 27.80 points to 1,917.13, in its third straight session of decline.Trading volume was moderate at 522 million shares worth 4.32 trillion won ($3.76 billion), with losers clearly outpacing gainers 607 to 206.“There was no real momentum to bolster the bourse and counter