South Korean stocks are forecast to move upward next week, analysts said Saturday, with the Greek prime minister’s latest victory in a confidence vote and an upcoming meeting among European financial ministers likely to embolden investor sentiment. The benchmark KOSPI closed at 1,928.41 on Friday, down 1.07 points, or 0.06 percent, from one week ago. Reports about MF Global Holdings’ filing for bankruptcy protection and an announcement from Greek Prime Minister George Papandreou that the trouble

North Korea’s mineral exports to China have tripled this year compared to a year ago, a study showed Sunday.A joint study of Chinese data by the Yonhap news agency and Seoul-based IBK Economic Research Institute showed that China imported 8.42 million tons of minerals from North Korea from January to September this year, worth $852 million.Over the first nine months of last year, China brought in 3.04 million tons of minerals from the North for $245 million.Most of the minerals were anthracite c

South Korea’s per capita income is expected to reach a record high this year, surpassing $20,000 for the second consecutive year, a government official said Sunday.The official from the Ministry of Strategy and Finance said the country’s per capita gross national income will likely reach between $23,500-$24,000.The amount marks over 13 percent growth from last year’s $20,759.The International Monetary Fund predicted a similar level of growth for South Korea’s economy in an earlier report.In its

South Korea’s exports of information technology products reached the third largest monthly volume in the country’s history last month, though they dropped slightly from a year earlier when the country posted record shipments, the government said Sunday.The country shipped $13.79 billion worth of IT products in October, down 2.2 percent from the same month last year, according to the Ministry of Knowledge Economy.The ministry attributed the drop largely to the fewer number of working days from a

The personal loan interest rate has risen by more than twice as much as the rates paid on savings and bank bonds, data showed Sunday.According to industry and Bank of Korea data, interest rates paid on funds gained by banks through savings, installment deposits and bank bonds came in at 3.1 percent at the end of September, up 0.25 percentage point from the end of last year.While changes in interest rates on loans are customarily linked to changes in rates on interest given by banks, the pattern

HAMBURG (DPA) ― Land Rover and Mercedes are planning new models of their Range Rover and GL models next year, with increased demand for large, luxury sports utility vehicles (SUVs) in China and Russia, Germany’s Autobild newspaper reports.The new Mercedes GL, built on the basis of the M-Class, is expected to be ready early next year, with only small changes to the exterior, the report said.Both the Mercedes GL and the new Range Rover, which is expected to weigh some 300 kilograms less than the p

NEW YORK (AP) ― It’s moving day for bank customers.A grassroots movement that sprang to life last month is urging bank customers to close their accounts in favor of credit unions by Saturday.The spirit behind “Bank Transfer Day” caught fire with the Occupy Wall Street protests around the country and had more than 79,000 supporters on its Facebook page as of Friday. The movement has already helped beat back Bank of America’s plan to start charging a $5 debit card fee.It’s not clear to what extent