The Korean won is continuously appreciating against the U.S. dollar despite a series of gloomy indices over Korea’s economic growth for this year.Though growth of the nation’s gross domestic product stayed at 1.6 percent in the third quarter of the year, falling below 2 percent for the first time since the third quarter of 2009, the dollar continued to lose ground against the Korean currency.The dollar finally slid below 1,100 won last week after gradually losing value over the past few months ―

A U.S. legal news provider revealed an allegation that Apple Inc. made an unfair licensing offer to Samsung Electronics over patent payments in October 2010.Apple had offered Samsung an additional 20 percent discount for the Korean smartphone manufacturer’s usage of Apple’s licenses, including Windows phones and tablets, under the scenario of a cross license deal, Groklaw said in its recent report.The failed offer was based on the U.S. firm’s alleged intention to pressure Samsung to scrap its us

The prices of vegetables, including radishes, has skyrocketed recently due to increasing demands ahead of the kimchi-making season, government data showed Sunday.The season, which lasts for about two months through December, is when Koreans prepare kimchi for the winter, a major event in traditional Korean households as families prepare for the long, cold season when vegetables are scarce.“Kimchi” is a spicy fermented side dish made from cabbage, radish and various seasonings such as garlic, chi

South Korea and Qatar have reached a preliminary agreement to expand cooperation for joint investment in third countries.The memorandum of understanding, signed in Seoul between the Ministry of Land, Transport and Maritime Affairs and Qatar Holding LLC, outlines the creation of a joint infrastructure cooperation taskforce for such purposes.The joint taskforce will arrange consultative meetings twice a year, help concerned parties share information on prospective investment projects and carry out

A Japanese court has dismissed an injunction filed by South Korea’s Samsung Electronics Co. against U.S. smartphone manufacturer Apple Inc., finding no patent infringement as claimed by Samsung, a Japanese newspaper reported Saturday.According to the local daily, the Asahi Shimbun, a Tokyo district court rejected Samsung’s injunction on Sept. 14 and then again on Oct. 11. The South Korean company, the world’s largest supplier of smartphones, claimed Apple’s iPhone had violated its patents on tec

South Korean stocks are expected to show an upward movement this week though the movement range may be limited by external uncertainties that remain in the global market, analysts said.The country’s key stock index, the Korea Composite Stock Price Index, closed 10.58 points or 0.54 percent higher from the previous week’s close at 1,943.84 last Friday.The index dropped more than 15 points on Friday alone following what market analysts called poorer-than-expected corporate earnings for the third q

Financial consumers whose disposal income does not exceed 500,000 won ($450) will be ineligible to apply for a new credit card under new measures.“Irrespective of consumers’ personal credit standing, credit card firms will be allowed to issue a new card to those with monthly disposal income ― or total earnings minus debt payment ― above 500,000 won,” the Financial Supervisory Service said in a statement on Sunday.An FSS official said the action is designed to prevent issuers from recklessly doli