The Korea Herald

Seoul stocks expected to see moderate gains

Apr 10, 2011

Korean stocks will continue to rise this week but the gains will likely be limited by rising oil prices and other economic woes stemming from Japan’s earthquake and continuing war in Libya, analysts said.The benchmark KOSPI ended last week at 2,127.97, up 6.96 points or 0.32 percent from a week earlier, extending its rally of weekly gains to a fourth consecutive week.The total market cap also reac
China FTA to boost Korea’s economy by nearly 3%: SERI

Apr 10, 2011

A free trade deal with China would help Korea expand its gross domestic product by nearly 3 percent, a think tank said Sunday, citing more exports to the fast-growing market through lowered trade barriers.According to a report by the Samsung Economic Research Institute, Korea’s GDP is expected to grow 2.72 percent more if Seoul and Beijing complete a free trade agreement intended to cut or remove
Quake’s harm to Korean economy limited

Apr 10, 2011

Steelmakers, oil refiners benefit from damaged production in JapanThe March 11 earthquake and tsunami in Japan is seen as having a limited, short-term impact on the Korean economy despite having disrupted parts supplies for automobile and electronics makers, experts said Sunday. In fact, some sectors including steel and oil refining are benefiting from the damaged production in the neighboring cou
Seven out of 10 workers regret changing jobs

Apr 10, 2011

(MCT)Seven out of 10 people who have changed their jobs regret their decision, research showed Friday.Job site Saramin (http://saramin.co.kr) said that 67 percent of respondents were not satisified with their new jobs in a survey conducted on 1,409 Koreans who have sought new opportunities in different companies.In the survey, 34.3 percent of those answered said they regret their decision because
[News focus] Seoul faced with calls to slash oil taxes

Apr 8, 2011

Government twists refiners’ arms but under fire for failing to share responsibilityThe heat is increasingly being turned on the government for failing to curb the soaring gas prices, especially as critics are pounding Seoul for failing to address a more direct cause of the price increase ― the high taxes slapped onto gas. Instead, the government has turned to twisting the arms of local refiners to
Trade Ministry to review all FTA texts

Apr 7, 2011

The Trade Ministry said Thursday it will review the Korean-language texts of all free trade agreements the nation has signed after more than 200 mistakes were found in the pact with the European Union.The ministry is currently reviewing the texts of its pacts with the United States and Peru which have yet to be approved by the parliament. “In addition to the two FTAs, we will conduct rereading of
Korea to contain price hikes of farm products

Apr 7, 2011

The government said Thursday that it plans to tackle the recent spike in the price of farm and fisheries products that has contributed to rising inflationary pressure.The announcement by the Ministry for Food, Agriculture, Forestry and Fisheries came after soaring costs for food helped send growth in consumer prices to a 29-month on-year high of 4.7 percent in March. Of total gains, prices for far
FMD dents demand for Korean beef, pork

Apr 7, 2011

Korean beef promotion event is held in Suwon, Gyeonggi Province. (Yonhap News)About half of Korean consumers cut spending on beef and pork due to concerns over foot-and-mouth disease, which has spread nationwide since November and caused significant damage, a survey conducted by Nielsen Company showed Tuesday. The survey was conducted on 1,000 internet users in major cities in Korea including Seou
Most people’s job switches down to salary: study

Apr 7, 2011

(MCT)While people move from one company to another for many different reasons, a recent study showed that the biggest factor is salary.In a survey by Korea-based recruitment portal Saramin, about 41.5 percent of respondents who had changed jobs said salary was the main reason. About 2,057 people participated in the research, with 65.8 percent of respondents having experience of moving in their car
S. Korea regains status as top winner of new ship orders in Q1

Apr 7, 2011

South Korea recaptured its status as the world's leading shipbuilding nation in terms of new orders in the first quarter by beating China by a wide margin, industry data showed Thursday. According to data compiled by London-based market researcher Clarkson Research Services, South Korean shipbuilders won a combined 3.29 million compensated gross tons (CGTs) in new orders in the January-March pe
Seoul to launch online oil market

Apr 6, 2011

Measure seeks price transparency; P.M. says will consider cutting taxThe government on Wednesday said it will launch an online market for oil products and boost competition among suppliers in a package of measures to lower fuel prices. The proposal submitted by a pan-governmental task force also said that the government will consider cutting fuel taxes in the long-term if price hikes continue to w
Korea to invest 54.3b won in smart TV development

Apr 6, 2011

The government said Wednesday that it plans to inject 54.3 billion won ($49.8 million) this year to help local companies maintain their lead in the global smart TV market.The joint plan announced by the ministries of knowledge economy and culture, and the Korea and Communications Commission calls for concerted efforts to build up smart TV-related contents and the establishment of a viable Internet
ADB sees strong growth for Asia

Apr 6, 2011

Asian economic growth will ease slightly to just under 8 percent for the next two years as the region continues a solid recovery, the Asian Development Bank said Wednesday, although rising food prices threatened to throw more people into poverty.Korea’s economy will grow 4.6 percent this year on the back of recovering domestic demand and export conditions, it predicted.The Manila-based lender said
Korean companies hope to boost ties with Malaysia

Apr 5, 2011

Korean companies expect to step up cooperation with Malaysian businesses in the green energy sector, the head of a leading local business organization said Tuesday.“We want further cooperation (between the two countries’ companies) in the green energy sector such as in biofuels and batteries for electrical vehicles,” said Sohn Kyung-shik, chief of the Korea Chamber of Commerce and Industry (KCCI),
Budget deficit less than forecast

Apr 5, 2011

Korea’s government budget deficit and liabilities in 2010 came in at less than previously forecast, thanks mainly to faster-than-expected growth in Asia’s fourth-largest economy, the Finance Ministry said on Tuesday.The government debt grew more than 30 trillion won ($27.6 billion) last year from a year earlier as the government had to expand borrowing to fill its budget shortfalls.According to a