LG Display Co., the world's second-largest display maker, said Thursday that workers at a factory it owns in China have ended a strike and will return to work soon.  On Monday, some thousands of workers went on strike at LG Display's factory in the eastern Chinese city of Nanjing, asking for an

South Korea's industrial output growth slowed in November, stoking worries that the nation's economy is losing steam due to rising global uncertainties, a government report showed Thursday.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 5.6

South Korea's current account surplus rose to its highest level in 13 months in November as exports of petrochemical goods and cars remained firm, the central bank said Thursday.The current account surplus reached US$5.05 billion in November, up from a revised $4.13 billion the previous month, accor

The government said it began issuing special subway passes on Wednesday for foreign tourists in efforts to facilitate their use of public transportation.With the new services, travelers can buy passes available for a certain period of time ― one, two, three, five or seven days ― at tourism information centers at Incheon airport. Prices range from 10,000 won ($8.60) for a one-day ticket to 59,500 won for week-long use, plus a 5,000 won refundable deposit. Each of the passes is limited to 20 rides

LG Electronics said Wednesday it signed an agreement with Walt Disney Co. on Wednesday to use the firm’s 3-D content for TV viewers in Seoul.The local electronics company said the 3-D version of “The Lion King,” expected to be released here on Thursday, will also be featured for LG’s 3-D Smart TV simultaneously. Other Disney animated films like “Toy Story,” “Toy Story 2,” “Bolt” and “The Nightmare before Christmas” will also be shown as 3-D content for the company’s smart TV. They will be availa

Korea’s inflation-adjusted average wage declined this year as income grew at a slower pace than in 2010, while inflation rose sharply, data showed Wednesday.Korean worker’s real wage averaged 2.72 million won ($2,350) in the January-September period, down 3.49 percent from a year earlier, according to calculations based on data from the central bank, the labor ministry and the state-run statistics agency. Last year, the real wage grew 3.8 percent as the economy expanded 6.2 percent.The real wage

South Korean stocks finished 0.92 percent lower Wednesday as investors cut high-dividend shares on the expiry of their dividends, analysts said. The local currency climbed against the U.S. dollar.The benchmark KOSPI dropped 16.9 points to 1,825.12, extending a losing streak to a third session. Trading volume was moderate at 374 million shares worth 3.26 trillion won ($2.81 billion) with losers leading gainers 499 to 317.“Institutional investors were net sellers and high-dividend shares, such as

Korea needs to stay vigilant against any developments next year as its economy is expected to face many “destabilizing factors” that could weigh on its recovery and growth, the nation’s top economic policymaker said Wednesday.“Economic conditions at home and abroad are expected to be tough next year at a time when the eurozone fiscal debt crisis, major elections and North Korea variables remain in place as destabilizing factors,” Finance Minister Bahk Jae-wan said during a crisis management meet

Taekwang Industrial Co., a South Korean chemical fiber company, said Wednesday that it will begin commercial production of carbon fiber starting in March of next year for the first time in South Korea.The company developed the polyacrylonitrile-based carbon fiber in 2009 and has commenced construction for the high-end material in the Ulsan industrial complex on the southeastern coast of the country.The plant will start commercial operation in March next year with an annual capacity of 1,500 tons

Dream Pharma Corp., a Korean drug maker, will develop new treatment for superbugs to cater to soaring demand for drugs against the fatal bacteria.The Hanwha-affiliate said Wednesday it clinched a deal with LegoChem Biosciences Inc. for joint research and commercialization of the bioventure’s novel product.The drug candidate known as LCB01-0371 has been proven superior to Pfizer Inc. Zyvox in treating superbugs, which are resistant to nearly all existing antibiotics, Dream Pharma said.Clinical tr

Korean brokerages said Wednesday the local stock market is likely to gain in January helped by renewed optimism over the U.S. and Chinese economy. “Expectations are building upon the possibility that the U.S. economy would manage to pull off sustainable growth next year,” said Hong Soon-pyo, analyst Daishin Securities. Despite the gloomy factors that plagued investors this year, the U.S. market is poised to benefit from improved manufacturing indicators, better outlooks for jobs and the housing

South Korea will likely face a markedly changed business environment next year as it is poised to enforce a long-standing free trade agreement with the U.S. that would open up its market and eventually lead to gloves-off competition down the road.The country signed the deal, known as the KORUS FTA, in 2007 but had to wait for years until late November for parliamentary approval due to objections from opposition lawmakers and civic groups. The U.S. Congress approved the pact in October, paving th