Korea’s increasing outbound investment and sluggish inbound foreign investment has contributed to a loss of some 660,000 jobs over the last 12 years, a private think tank said.Hyundai Research Institute said in a report that Korea’s foreign direct investment grew only 3 percent, while its overseas investment rose 24 percent on average year-on-year.Overseas energy and mining has been the most sought after investment for Korean companies since 2006. Investment in the energy sector abroad was worth

South Korean stocks closed 0.34 percent higher Monday as investor sentiment was buoyed by better-than-expected U.S. corporate earnings in the first quarter and good showing by local blue chip companies, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 6.64 points to close at 1,981.99, rising for a third session.Trading volume was heavy at 824 million shares worth 6.21 trillion won ($5.49 billion), with losers outpacing gainers 4

South Korean manufacturers’ business confidence for May moved up for the fourth straight month as overall economic conditions showed signs of steady improvement, the central bank said Monday.The business survey index of manufacturers’ expectations rose to 90 for May from 85 tallied in April, according to the Bank of Korea.The reading follows recent improvements in the BSI that started from February onwards after dropping to 79 in the first month of this year.The index measures manufacturers’ out

Debt owed by South Korea’s public sector soared more than 15 percent in 2011 from a year earlier due to increased spending on welfare and infrastructure projects, a government report showed Monday.According to the report by the finance ministry, 286 public corporation and agencies had a combined debt of 463.5 trillion won ($409.4 billion) as of end-2011, up 15.4 percent from the previous year.They include state-run enterprises such as Korea Electric Power Corp., Korea Deposit Insurance Corp. and

South Korea’s industrial output growth dropped sharply in March from the previous month mainly due to weak exports and domestic demand, a government report showed Monday.Production in the mining and manufacturing industries edged up 0.3 percent last month from a year earlier, compared with a 14.3 percent on-year increase in February, according to the report by Statistics KoreaThe monthly output number represents a 3.1 percent contraction from February.In the manufacturing sector, which makes up

The French Chamber of Commerce will hold a seminar in Seoul on Friday that will examine IP law amendments allowing Korea’s free trade agreements with the European Union and the United States.The meeting will be held from 8:30 a.m. at the Grand Ambassador Hotel. The guest speaker will be Shin and Kim lawyer Lim Bo-kyung and will be conducted in English.The seminar is part of the chamber’s Expert Training Club which hosts seminars and lectures with experts that offer their insight and practical so

Korea International Trade Association chairman Han Duck-soo will speak about Korea’s FTA policies and their effect on business at a luncheon Thursday organized by the European Union Chamber of Commerce.Before being appointed KITA chief, Han served as prime minister and ambassador to the United States.The luncheon will be held at the Grand Hyatt hotel. The cost is 65,000 won for members and 80,000 won for non-members. For more information, visit www.eucck.org.

Steve Ballmer is highly likely to meet Koo Bon-joon during visit to Seoul this month: sources　Eyes are on the possibility of Microsoft’s chief executive Steve Ballmer holding a meeting with the chief of LG Electronics, as the U.S. software giant chief is expected to visit Seoul this month.Industry sources said Ballmer is likely to engage in business meetings with local industry representatives, in

The new head of the International Vaccine Institute disclosed a plan to revive a program to develop a laboratory on epidemic diseases in North Korea, which has been suspended since 2010.“IVI had a program in North Korea that started in 2006, and the program targeted surveillance studies so we could understand the epidemiology of the study, like how many cases, and the importance of a study in a country,” IVI director general Christian Loucq told The Korea Herald.The original program focused on J

CHEONGJU (Yonhap News) ― The banks of the Namhan River bend throughout this region of the Korean countryside, said to be the geographical center of the nation. It’s an area dotted with apple orchards and surrounded by green hills, where on a quiet afternoon the sound of chanting can be heard, echoing from a Buddhist temple. At one spot along the shoreline stand what appear to be above ground, Olympic-sized swimming pools. But you won’t find any athletes doing laps in their lanes. The river water