South Korea's central bank on Wednesday revised up its projection for this year's consumer inflation on high oil and food prices, but the bank retained its economic growth forecast.   The Bank of Korea (BOK) upgraded its inflation projection for this year to a three-year high of 3.9 percent from a previous estimate of 3.5 percent, indicating that the country will face a buildup in inflationary

Local portals Naver and Daum were considering filing a complaint with the Fair Trade Commission against Google and Apple for allowing only Google and a few other chosen portals on their smartphones, industry sources said on Tuesday. Currently, Google, Yahoo and Bing are the only search engines carried by smartphones powered by Android and Apple operating systems. Naver and Daum believe the limited

The Finance Ministry launched a new task force to help developing nations improve infrastructure and policymaking under the Knowledge Sharing Program. Helping underdeveloped nations with long term goals is a G20 agenda initiated by President Lee Myung-bak as the host of the G20 Seoul Summit last year.Seoul has finished its policy consultations with four African nations including Ghana and Algeria.

Shinsegae Corp.’s new premium outlet in Paju, north of Seoul, could face government restrictions after smaller retailers protested that it hurts their businesses.The Small and Medium Business Administration launched an inquiry on Monday to determine the scale of damage sustained by small- and medium-sized discount outlets in the area since Shinsegae Chelsea opened on March 18.The smaller stores cl

The recent hacking at Hyundai Capital raises the possibility that customer information at Hyundai Card could also have been stolen or be vulnerable to intrusion.Hyundai Capital recently suffered a cyber attack in which personal information of about 420,000 customers and passwords of 13,000 have been hacked.While the automobile loan-oriented firm has been under an intensive probe from the FSS, regu

 

Korea is likely to see its economic growth rate fall more than 2 percentage points if international oil prices top the $200 level, a report showed Tuesday.The report comes amid worries that the shortfall of oil production in Libya and continued unrest in the region may send crude prices even higher and dent the growth of economies around the world. According to the report by Britain-based Standard

Korea’s first 3-D animation movie “Bolts & Blip” will be released on DVD in Canada later this year, its producer Redrover said.The company signed a copyright deal with Canadian home entertainment group Nelvana last week at MIPTV 2011, the world’s largest entertainment content market in Cannes, France. Set on the moon in 2080, the comedy follows the adventures of two misfit robots, Bolts and Blip.I