Despite a severe slump in prices, global makers of liquid crystal display panels are expected to increase their output in the fourth quarter, a market researcher said Monday.According to DisplaySearch LLC, global LCD panel makers operated their production lines at 75 percent of their full capacity in October, up 7 percentage points from the previous month.The research firm predicted that LCD panel makers will operate manufacturing lines at around the same level for the next two months at about 7

South Korea will continue its efforts to keep its fiscal health in good shape amid growing global economic uncertainties and worries over rising demand for welfare spending, a senior Finance Ministry official said Monday.“As the economy keeps recovering, our fiscal status is improving fast and it also seems it is remaining in better shape than other advanced nations,” Vice Finance Minister Yoo Sung-kull told a fiscal policy conference jointly hosted by the World Bank and the state-run Korea Deve

South Korean firms are increasing their efforts to solidify their footholds in Vietnam as the populous Southeast Asian region has emerged as a key investment destination, industry sources said Monday.Vietnam is one of the most attractive places for investment, as it is pushing ahead with rapid economic growth, attracting overseas investors with favorable business conditions such as cheaper labor costs and tax benefits, they said.According to data compiled by the Korea Chamber of Commerce and Ind

Bank deposit rates in South Korea, when adjusted for inflation and taxes, declined to a record low in the third quarter, spurring concern they may further weigh on weak household savings, data compiled by the central bank showed Monday. The average real deposit rate at local banks, which exclude the inflation rate and taxes levied on interest income, stood at negative 1.63 percent in the third quarter, the lowest since the Bank of Korea began compiling the related data in 1996, according to the

South Korea's terms of trade worsened to the lowest level in nearly three years in the third quarter as on-year gains in oil prices jacked up import costs, the central bank said Monday.The country's net terms-of-trade index for goods came in at 78.7 in the July-September period, down 9.9 percent fro

Samsung Electronics Co.'s Galaxy S2 smartphone was named as the best smartphone by a well-known U.S. magazine in its latest handset survey, industry sources said Monday.Consumer Reports recommended the Galaxy sequel as the best smartphone pick for subscribers of three major mobile carriers in the Un

The popularity of Korean pop culture is exerting a positive influence on overseas sales of locally made products, a poll conducted by an international traders association showed Sunday.The Korea International Trade Association said a survey conducted on 1,173 people from Japan, China, Taiwan and Vietnam, revealed that 80 percent of the respondents said that the Korean wave has affected their buying of South Korean goods.The Korean wave, also known as “Hallyu,” refers to the popularity of South K

South Korean imports from the European Union grew at a far faster pace than its exports to the economic bloc over the three months since their bilateral free trade deal took effect in July, data showed Sunday.In the July-September period, South Korean imports from the EU came to $12.35 billion, registering an average monthly increase rate of 26.5 percent, according to the data by the Ministry of Knowledge Economy and the Korea International Trade Association.In contrast, South Korean shipments t

Samsung Electronics will continue to edge out Apple Inc. to stay on top of the ever-fierce smartphone market in the fourth quarter, a U.S. market research firm said.Though Apple’s iPhone 4S is triggering a new consumer frenzy worldwide, Samsung would benefit from its larger display panels, richer product lineup and capability for the faster LTE (Long-Term Evolution) network, according to Strategy Analytics.“Apple will rebound tremendously but it won’t be enough to catch up with Samsung,” Thomas

Uncertainties remain with regards to benefits of acquisitionThe acquisition of Hynix Semiconductor, the world’s No. 2 memory chip maker, will consolidate SK Group’s position as Korea’s third-largest conglomerate and add momentum to its growth.In growing to be the country’s third-largest conglomerate, SK Group has developed petrochemicals and telecommunications businesses as the pillars that support the group.In the 1970s, about 20 years after SK Group’s foundations were laid, the conglomerate br

South Korean banks’ earnings are likely to fall 11 percent next year from this year as the cooling economic growth and slowing loan expansion will undercut their bottom lines, data showed Sunday.The combined net income of four major banking groups and two lenders are likely to reach 11.5 trillion won ($10.2 billion) for next year, down from 12.9 trillion won projected for this year, according to an estimate made by financial information provider FnGuide.Korean banks are expected to post stellar

South Korean banks’ mid- and long-term foreign borrowing sharply increased in October as lenders rushed to secure foreign currency in a bid to brace against global financial woes, the financial watchdog said Sunday.A total of 12 local banks refinanced 299.3 percent of their maturing mid- and long-term foreign debt through fresh borrowing last month, up from 186.6 percent in September, according to the Financial Supervisory Service.The rollover rate gauges the percentage of fresh overseas borrowi