The number of serious crimes in South Korea’s financial sector increased last year, data showed Monday, raising the need to bolster countermeasures to prevent investment losses.Of the 209 cases probed for unfair trade practices in 2011, 72.7 percent were referred to the state prosecutors’ office for criminal investigation, according to data by the Financial Supervisory Service. The number represents a gain from 63.3 percent in 2007.The increase was largely led by sharp gains in unfair trading in

Lotte and Shinsegae hinted at fiercer competition in the retail sector this year as they announced plans for more investment and job creation despite economic uncertainties globally. Lotte Group, the nation’s No. 1 retail conglomerate, will invest 6.73 trillion won ($5.78 billion) and hire 13,500 workers this year to continue last year’s sales momentum. Lotte recorded 73 trillion won in sales last year, up 19 percent compared to 2010. This year’s investment increased almost 50 percent from 2011.

Strong smartphone business expected to help Samsung overtake Intel in operating profitSamsung Electronics, Asia’s biggest technology company, is set to post a record profit on strong sales of smartphones, brokerages said Monday. Local securities houses said Samsung is expected to solidify its global market position as a leading provider of smartphones and tablet computers, both of which are enjoying stronger sales worldwide. Daewoo Securities said Samsung’s revenue and operating profit this year

South Korean stocks closed 0.9 percent lower on Monday as investors kept a wary eye on the debt-saddled eurozone while reacting cooly to improved U.S. data, analysts said. The local currency fell against the U.S. dollar.Moving in a tight range, the benchmark KOSPI fell 16.65 points to 1,826.49. Trading volume was moderate at 388.1 million shares worth 4.14 trillion won ($3.5 billion), with decliners outnumbering gainers 514 to 316.“Investors have nothing to anticipate from the U.S. data as they’

SEOUL, Jan. 9 (Yonhap) -- Samsung Electronics Co., the world's second-largest handset maker, swept the Russian mobile phone market, ranking first in four categories in November last year, a research firm said Monday.Samsung Electronics took first place in the Russian mobile phone market in terms of

Kia Motors Corp. said it will maintain its 33 percent share in the domestic car market this year in order to consolidate its position as the No. 2 player here.The company set its 2012 target on the back of releases of new vehicles and steady sales of popular models.Last year, Kia Motors sold 493,003 vehicles in the South Korean market for a 33.6 percent share, fueled by the popularity of new models such as the Morning and Pride, and growing demand for mid-size cars like the K5.“Despite fierce co