South Korea’s leading business confidence index fell for the third quarter, reflecting concerns that persistent global economic woes will hurt the country’s exports in the coming months, a survey carried out by a local economic organization showed Sunday.The business survey index for the July-September quarter came to 88, a drop of 11 points from the estimate for the current quarter, the Korea Chamber of Commerce and Industry said.The BSI forecast for the April-June period reached 99, up from 77

The largest luxury cruise ship to arrive in South Korea docked in the port of Jeju Saturday as the resort island moves to emerge as one of Northeast Asia’s leading tourist destinations.The Voyager of the Seas cruise liner arrived early in the morning at Jeju Port to the fanfare of local authorities and traditional performances.Jeju prepared special garlands and plaques for the passengers who arrived on the ship that weighs 137,276 gross tons, is 311 meters long, has a maximum width of 47.55 mete

A plan to privatize Korea Aerospace Industries, the nation’s sole aircraft manufacturer, faces growing opposition from union workers and local residents.Civic groups and local politicians also oppose the move.KAI’s largest share holder is the Korea Finance Corp. with 26.41 percent stake. The state-run financier and three other major shareholders plan to sell a stake of about 40 percent (worth about $1 billion) in KAI within this year. The other three owners are Hyundai Motor Group, Samsung Techw

South Korea joining the ranks of the exclusive “20-50 club” marks a new chapter in the development history of the country, the government said Saturday.The finance ministry said as the country’s population has passed the 50 million mark and it has been able to maintain a per capita income of over $20,000, South Korea has achieved an unprecedented feat for a newly industrialized economy.The 20-50 club is a coined termed by the local media to highlight countries who possess sizable populations and

Daewoo International Corp., a South Korean trading firm, said Sunday it has given $50,000 in scholarships to a Colombian association of Korean War veterans’ family members.A ceremony was held in the South Korean embassy in Bogota on Wednesday and attended by about 30 people, including the top South Korean envoy to Colombia, according to the company.A committee, made up of members of the South Korean embassy and Daewoo International Corp., plans to award scholarships to 50 recipients over the nex

South Korean stocks will be influenced by the results coming out of the European Union’s summit meeting scheduled for late next week that could help determine the future of the euro monetary union, local analysts said Saturday.The country’s key stock index, the KOSPI, closed at 1,847.39 on Friday, a drop of 0.57 percent or 10.77 points from the week before. The decrease marks the first time in five weeks that the bourse lost ground on a weekly basis, and was brought on by disappointment over the

General Motors Co., boosting the reliability of Cadillac and Chevrolet models, had its best performance ever in J.D. Power & Associates’ new-car quality survey, with three of four brands above the industry average.Toyota Motor Corp.’s Lexus luxury line topped the survey for the second consecutive year and its namesake brand ranked eighth. Honda Motor Co. had the highest-rated mainstream brand at No. 5, one spot ahead of its Acura luxury line. Jaguar leaped 18 spots to a tie for second with Porsc

Local and import brands’ vehicle sales in Korea are projected to fall by 2.1 percent in 2012, compared to the previous year, an automotive research center said Thursday.In its second-half outlook on the world’s vehicle market, the Korea Automobile Research Institute predicted that global companies will see the pace of sales growth “slow down markedly.”Affected by the weaker consumer sentiment globally, the local market will see “the number of vehicle sales stay about 1.55 million units this year

South Korean stocks fell 0.79 percent Thursday after the U.S. Federal Reserve failed to announce new economic stimulus measures to fuel growth of the world’s largest economy, analysts said. The local currency dipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index gave up 14.97 points to close at 1,889.15. Trading volume was light at 369 million shares worth 3.72 trillion won ($3.23 billion), with gainers outpacing losers 421 to 402.“The Fed’s plan to maintain its current

The Chung Mong-koo Foundation of Hyundai Motor Group said Wednesday that it will accept applications from college students for a tuition fee loan program, which offers low interest rates.“For the second semester, students will be allowed to enjoy college loans with interest rates that range between 0 and 3 percent per annum,” the automotive group said in a statement.The program is designed to support students struggling with high-interest loans from the secondary banking sector or private moneyl

KIEV, Ukraine (AP) -- Soccer fans from all over the world are kicking the ball around in the center of Ukraine's capital to combat racism and promote tolerance.Ukraine has been rocked by allegations of racism and a call by a former England soccer star to not attend matches here because fans might return ``in a coffin.'' Ukrainian officials angrily deny the claims and promise a warm welcome to fans

Seoul shares fell 0.71 percent on Friday in the face of rising European uncertainties ahead of Greece’s critical elections and mixed U.S. economic data, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index moved down 13.32 points to 1,858.16 after a choppy session. Trading volume was light at 4.26 million shares worth 4.46 trillion won ($3.83 billion), with losers outpacing gainers 486 to 344.“Investor sentiment was dented by mounting eur