Koreans’ favorable views toward local companies edged up in the second half of 2011, helped by public expectations that businesses will create more jobs, a poll showed Thursday.The survey by the Korean Chamber of Commerce and Industry revealed that the corporate favorite index rose to51.2 points in the six-month period, up 0.4 points from the January-June period.The figure represents a rebound after numbers started falling from a high of 54 reached in the first half of 2010. In the second half o

Korean tech giant Samsung Electronics Co. said Thursday that a German court has rejected Apple Inc’s bid to impose a sales ban on its tablet computer and the new Nexus smartphone in the European country.The Munich Regional Court on Wednesday rejected Apple’s request to impose a preliminary sales ban on Samsung Electronics’ Galaxy Tab 10.1 N and Nexus smartphones, according to Samsung.Apple claimed that the Korean tech firm has infringed on its patent rights related to touch screen technology, bu

Korea’s foreign exchange reserves rose to a five-month high in January as the stronger euro and other non-dollar currencies increased the conversion value of those assets, the central bank said Thursday.The country’s foreign reserves reached $311.34 billion last month, up $4.94 billion from the previous month, according to the Bank of Korea. The January foreign reserves stood at the second highest level in history since the foreign reserves hit a record high $312.19 billion in August of 2011. It

The Korea Chamber of Commerce and Industry said Thursday that it will dispatch a business delegation to Turkey, Saudi Arabia and Qatar to align with President Lee Myung bak’s visit to the three countries starting Friday.The economic delegation, which will go on an eight-day business trip, will seek out cooperation possibilities in the fields of resources, construction, engineering, atomic power and new renewable energy with its Saudi Arabian counterpart.The delegation will be made up of about 30

Only 22 of 78 companies posted net profits last yearA slew of Korea’s largest conglomerates rushed into natural resource development abroad over the past four years with government support, but seven out of 10 lost money.Seventy-eight companies under the nation’s top 30 private business groups in asset value were involved in overseas resource development as of last September, according to Chaebul.com. Only 22 of them, or 28.2 percent, however, reaped net profits. Kim Young-hwan, chief of the par

A pet insurance program for dog owners wanting to cover health care expenses at vet clinics is gaining in popularity after being relaunched in November.Insurance sources said about 120 dogs have been subscribed to the insurance program in just two months.According to Samsung Fire & Marine Insurance Co. its Familiaris Dog Insurance pays veterinary costs if the dog becomes ill or injured in an accident. The coverage also includes paying indemnities at an annual fee of 500,000 won ($444,000) for on

Korean stocks rose 1.28 percent Thursday as investor sentiment was buoyed by eased eurozone debt concerns, analysts said. The local currency climbed against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 25.06 points to close at 1,984.3. Trading volume was heavy at 625.8 million shares worth 8.6 trillion won ($7.7 billion) with gainers outnumbering losers 536 to 284.“Good news from Europe removed some of the biggest worries for investors,” said market analyst Kwak Jung-bo

Hynix Semiconductor posted 2.55 trillion won ($2.27 billion) in total sales and an operating loss of 167 billion won in the final quarter of last year, triggered by the dampened global economy and the weak demand for PC memory chips.The world’s second-largest memory chipmaker said its sales from October-December dropped 7 percent year-on-year and the net loss recorded 240 billion won, a slight improvement from the previous quarter.The consolidated sales for 2011 reached 10.4 trillion won, a 14 p