Foreign ownership of South Korea's land rose slightly last year, but its growth rate remained relatively slow compared with levels tallied before the financial crisis, a government report showed Thursday.   Foreigners owned a total of 223.72 million square meters of land in the country at the end of last year, up 2.4 percent from a year earlier, according to the report by the land and transport

MUMBA (AFP) ― BP’s multi-billion-dollar tie-up with Reliance will accelerate fuel-hungry India’s exploration for energy and hand the Indian giant the skills to develop hard-to-exploit reserves, analysts say.The British energy group on Monday agreed to pay $7.2 billion for a 30-percent stake in Reliance’s 23 largely unexplored deepwater oil and gas fields off the coast of India, which cover an area equivalent to the North Sea.The tie-up with embattled BP, which this month reported its first annua

Samsung Electronics said on Wednesday that it has developed the world’s first full-color quantum dot display, paving the way for the next-generation products that are cheaper but more vivid and energy-efficient.Quantum dots are semiconductor nanocrystals that become luminous in reaction to current or light. They have emerged as a next-generation photonic method due to its finer color expressions a

The International Monetary Fund will release a report next week highlighting South Korea’s successful policy response to speculative capital inflows, a government official said. The report will exemplify the Finance Ministry’s imposition of taxes and limits on speculative trading as legitimate macro-prudential measures. “The IMF is to release a report about the emerging market’s combating of hot m

Government and private-sector representatives will introduce a new index to gauge large companies’ relationship with smaller suppliers as part of its efforts to promote broad-based growth, officials said Wednesday.The shared growth index will be announced once annually, starting with 56 companies including Hyundai Motor Co., POSCO and Samsung Electronics next year, the Commission on Shared Growth

AD Motors, a Seoul-based electric car maker, announced Wednesday that it will build a mass production facility in Yeonggwang Country in South Jeolla Province. Once complete, the facility will be capable of producing 43,000 electric vehicles on an annual basis.The company signed an agreement for the project with the governments of Yeonggwang county and South Jeolla Province on Tuesday. It will inje

Finance minister calls for policy focus on price stabilityKorea will participate in the Group of 20’s efforts to control sharp price hikes in key commodities that have a direct bearing on economic growth and inflation, the government said Wednesday.The finance ministry said playing a role in the G20 arrangement could allow Seoul to work with other countries to better cope with a rise in energy, gr