Nine out of 10 Koreans think the prices of everyday necessities have risen compared to three months ago, a survey said. Nielsen Company Korea, a research firm, said the results came from its survey conducted between Feb. 25 and March 4 this year, targeting 1,000 Internet users in major cities including Seoul, Gwangju and Busan. Local consumers thought meat prices had risen the most, followed by ag

Debts owed by the government, individuals and companies in Korea reached a record high last year, data showed on Sunday, raising concerns that the high level of debts could derail the economy off the recovery track.According to data compiled by the Bank of Korea, their interest-bearing debts reached 2,586 trillion won ($2.37 trillion) at the end of last year, up 7.4 percent from 2,408 trillion won

Korean stocks are forecast to gather further momentum to set a new record high this week as the market brushes off global woes like Japan’s massive quake and Middle East political unrest, analysts said.The benchmark Korea Composite Stock Price Index ended this week 66.97 points, or 3.26 percent, higher to 2,121.01 on Friday from a week earlier, marking the highest closing ever for the local key in

   YEOSU -- The organizing committee for the 2012 Yeosu Expo will hold a meeting with representatives from the participating countries to explain details on its preparation for the international exhibition, it said Sunday.    The meeting is expected to bring together Vicente Gonzalez Loscertales, secretary general of the Paris-based Bureau of International Exhibitions (BIE), and some 250 represent

   South Korean seafood exporters have won $7.14 million worth of export orders at North America's largest seafood event in the U.S. city of Boston, the government said Sunday.   The Ministry for Food, Agriculture, Forestry and Fisheries said eight companies attended the 2011 International Boston Seafood Show to highlight locally produced fresh, canned and ready-made products, and hold tasting eve

South Korean stocks rose on the seventh-straight day to set a new record of 2,121.01 points on Friday, buoyed mainly by foreign buying. The benchmark KOSPI jumped 14.31 points or 0.68 percent from the previous day to break the previous record it set in January when the KOSPI closed at 2,115.69. Trading volume was moderate at 328.2 million shares worth 7.12 trillion won ($6.5 billion), with gainers

South Korea will invest a record amount of 53.8 billion won ($48 million) in Jeju Island this year to boost regional businesses in industries such as water and energy management, the Ministry of Knowledge Economy said Friday. The government will be spending about half of the funds on developing renewable energy facilities such as offshore wind turbines, while another 23 billion won will be used to

The longest vacancy on the Bank of Korea’s monetary board since 1998 raises the risk of policy deadlock as officials struggle to tame inflation while maintaining growth. The seat held by Park Bong-heum, a former budget and planning minister appointed by President Lee Myung-bak’s predecessor, has been empty since April 2010. The lack of a seventh member means deadlocks on interest- rate decisions a

   South Korea's industrial output grew for the 20th straight month in February, indicating the economy is continuing to expand, a government report showed Thursday.   According to the report by Statistics Korea, production in the mining and manufacturing industries rose 9.1 percent last month from the same month a year earlier. Output has increased since July 2009.   Output was fueled mainly by s

  South Korean manufacturers' business confidence for April inched down as rising oil costs and Japan's quake are expected to increase economic uncertainty, the central bank said Thursday.   The index of manufacturers' outlook on business conditions reached 95 for April, down from 96 for March, according to the Bank of Korea (BOK). The index measures manufacturers' outlook on business conditions f