South Korea

LG to offer Optimus L3 and Optimus L5 in India

LG to offer Optimus L3 and Optimus L5 in IndiaSouth Korean electronics giant, LG has said that it is planning to launch two new smartphones in its L series called, LG Optimus L3 and LG Optimus L5 in the Indian market.

The LG Optimus L3 II features a 3.2-inch QVGA IPS display and is powered by a 1GHz single core processor with 512MB of RAM. It 4GB of internal storage and comes with a powerful 1,540mAh battery. It runs on runs on Android 4.1 (Jelly Bean) and Optimus 3.0 UI.

South Korea's money supply continues to grow

South-Korean-CurrencySeoul, May 8 : South Korea's money supply has continued to grow amid the central bank's accommodative monetary policy, data showed Wednesday.

The country's M2, or broad money, rose 0.5 percent from a month earlier to a seasonally-adjusted 1,862.1 trillion won ($1.71 trillion) in March after increasing 0.7 percent in the prior month, according to the Bank of Korea (BOK).

The reading came amid the persistent mood of accommodative monetary policy created by the central bank that kept its benchmark interest rate on hold at 2.75 percent for six straight months in April, reported Xinhua.

South Korea's industrial output reduces

industrial-output_Seoul, April 30 : South Korea's industrial output reduced last month as external uncertainties such as slow growth in major economies weighed on the export-driven economy, a government report showed Tuesday.

Production in all industries, including manufacturing, service, construction and public administration sectors, fell 2.1 percent in March from a month earlier after rising 1.1 percent in the prior month, according to Statistics Korea.

From a year before, the output declined 0.9 percent after reducing 2 percent in the previous month, reported Xinhua.

Samsung's Q1 profit surges on smartphone sales

Samsung-ElectronicsSeoul, April 26 : Samsung Electronics, the world's largest maker of handsets, memory chips and flat screens, said Friday that its operating profit surged in the first quarter on the back of solid demand for its Galaxy smartphones.

Operating profit rose 54.32 percent from a year earlier to 8.78 trillion won ($7.92 billion) in the first quarter, according to an e-mailed statement. The reading was nearly the same as the previous record high of 8.84 trillion won tallied in the fourth quarter of 2012, reported Xinhua.

Kerala signs MoU with South Korean firm for solar panels project

Kerala signs MoU with South Korean firm for solar panels projectThe Kerala State Industrial Development Corporation has signed a Memorandum of Understanding (MoU) with Jusung Engineering from South Korea for the production of solar panels in the state.

Samsung to launch Galaxy S4 first in Seoul

samsung-galaxy-s4Seoul, April 25 : Samsung Electronics Thursday said it will roll out its new flagship smartphone model Galaxy S4 in Seoul this Friday for the first time across the globe.

The latest version of Samsung's Galaxy series will be available for sale to South Korean customers from Friday through three local mobile operators, including SK Telecom, KT Corp. and LG Uplus, reported Xinhua citing an e-mailed statement.

The smartphone giant planned to launch the Galaxy smartphone via 327 wireless carriers, including AT&T, Vodafone and Telefonica, in 155 countries during the second quarter.

Hyundai Motor's operating profit reduces

Hyundai Motor's operating profit reducesSeoul, April 25 - Hyundai Motor, South Korea's top automaker, saw its operating profit fall 10.7 percent in the first quarter from a year earlier, a regulatory filing showed Thursday.

Operating profit was 1.87 trillion won ($1.68 billion) in the three months ending March 31, down 10.7 percent from the same period of last year, reported Xinhua.

Sales increased 6 percent from a year before to 21.37 trillion won in the first quarter, while net income declined 14.9 percent to 2.09 trillion won. (IANS)

Samsung offering EMI and cash back on popular models

Samsung offering EMI and cash back on popular modelsSouth Korean electronics giant, Samsung is now offering attractive EMI and cash back offers with tis models including Galaxy S3, Galaxy Note 2, Galaxy Grand in the Indian market in order to attract new customers in the competitive market.

Seoul asks Pyongyang to come to dialogue table

Ryoo-Kihl-jaeSeoul, April 11 : South Korea Thursday called on North Korea to come to the dialogue table to resolve the deadlock.

"The suspension in operation of the Kaesong Industrial Complex, a symbol of the inter-Korean reconciliation and cooperation, is an act that does not do any good to our nation's future," Unification Minister Ryoo Kihl-jae said in a formal statement.

Ryoo said that "the normalization of the Kaesong complex should be made through dialogue", urging Pyongyang to "come to the dialogue table to discuss what the North wants", reported Xinhua.

South Korean bank worries about geopolitical risks

Bank-of-Korea1Seoul, April 11 : Bank of Korea (BOK), South Korea's central bank, Thursday expressed its concerns over growing geopolitical risks on the Korean Peninsula.

"Stock prices have fallen substantially and the Korean won has depreciated significantly against the US dollar as foreign funds have flowed out in line with the re-emergence of euro and with the increase in geopolitical risk in Korea," the BOK said in a statement unveiled right after the April rate-setting meeting.

The central bank froze its benchmark interest rate at 2.75 percent, keeping its wait-and-see stance for six straight months.

South Korea's central bank cuts 2013 growth outlook

Bank-of-KoreaSeoul, April 11: Bank of Korea (BOK), South Korea's central bank, Thursday cut its 2013 growth outlook to 2.6 percent from an earlier forecast of 2.8 percent.

The downgrade came after the finance minister slashed its 2013 growth forecast from 3 percent to 2.3 percent in late March, reported Xinhua.

The BOK froze its benchmark interest rate at 2.75 percent despite the unprecedented government pressure to cut rates to revitalize the sluggish economy in the early period of new presidency under President Park Geun-hye.

South Korea's IT exports rise

smartphonesSeoul, April 9 : South Korea's information technology (IT) product exports rose for seven straight months as demand for smartphones stayed solid in the global market, a government report showed Tuesday.

Exports in the IT industry increased 10.1 percent from a year earlier to $13.76 billion in March, rising for seven straight months, according to the Ministry of Trade, Industry and Energy.

For the first three months of this year, the IT exports rose 9.4 percent on year to reach a new record high of $38.71 billion, reported Xinhua.

South Korea's auto exports fall

automobile-exportsSeoul, April 8 : South Korea's automobile exports fell in March as top automaker Hyundai Motor and its affiliate Kia Motors shortened working hours of their employees under an agreement with labour unions, a government report showed Monday.

Automobile exports by the country's five automakers declined 16 percent from a year earlier to 258,067 units in March, according to the Ministry of Trade, Industry and Energy (MOTIE).

For the first three months of this year, car exports slid 8.9 percent from a year before, reported Xinhua.

Shooter Prakash wins bronze in World Cup

Praksh-NanjappaChangwon (South Korea), April 6 : India's Praksh Nanjappa won the bronze medal in the Men's 10 metre Air Pistol event at the ISSF World Cup here Saturday.

Prakash shot 180.2 points after out-doing 2010 World Champion Tomoyuki Matsuda of Japan, who finished fourth with 158.7 points.

This is Prakash's first ever medal in an ISSF competition. He had also finished in the spotlights two days ago, when he ended eighth at the Men's 50 metre Pistol Men's final. The 37-year-old shooter had never made it to a final round before.

Hyundai develops new egg shaped electric powered car

Hyundai develops new egg shaped electric powered carSouth Korean automotive giant, Hyundai has developed a new egg-shaped car powered by electric engine, which will be able to fit into narrow spaces in congested urban centres.

The new Hyundai E4U, which stands for four Es namely; evolution, electricity, eco-friendliness and egg, will have a top speed of 18 miles per hour. The top of the car appears to be a futuristic space helmet for the passengers. The vehicle has been designed to allow people to navigate congested urban roads and it is designed for one person only.

South Korea slashes 2013 growth outlook

South-Korean-EconmySeoul, March 28 : South Korea's finance ministry Thursday slashed its 2013 growth outlook for the country to 2.3 percent from an earlier estimation of 3 percent, citing uncertainties in the global economy and risk factors in the domestic economy such as massive household debts and the sluggish real estate market.

The No. 4 economy of Asia was expected to grow at an annual rate of 2.3 percent in 2013, lower than the 3 percent expansion estimated three months before, according to the Ministry of Strategy and Finance. The economy rose 2 percent in 2012, the lowest since 2009 when the global financial crisis peaked.

90 South Korean firms hear India's business pitch

South-Korean-FlagSeoul, March 21 : More than 90 South Korean companies participated here Thursday at a symposium on business opportunities in India's infrastructure, power, electronics, and IT sectors.

The Embassy of India, Seoul organized the major symposium on business opportunities in India with active support of Indian Chambers of Commerce in Korea.

Over 90 South Korean companies, from the electronics, communications & IT, infrastructure and power sectors attended the symposium, which was flagged off by Ambassador Vishnu Prakash.

Samsung confirms it is working on a smartwatch

Samsung confirms it is working on a smartwatchAccording to news publication Bloomberg’s March 19-dated report, Lee Young Hee - Executive VP of mobile business at Samsung – has confirmed the rumors about Samsung developing on a smartwatch; and has said that the company has been working on the device "for so long."

South Korean banks' computers paralyzed

Shinhan-BankSeoul, March 2 : Computer networks of South Korea's main broadcasters and two banks were completely paralyzed, media reported Wednesday.

The police said it seemed like a cyber attack, the Yonhap News Agency reported.

The computer networks of KBS, MBC and YTN, and those of two banks, Shinhan Bank and Nonghyup, totally stopped at about 2 p. m. local time, reported Xinhua.0 (IANS)

South Korea's corporate bankruptcies fall

Bank-of-KoreaSeoul, March 19 : South Korea's corporate bankruptcies fell to a record low last month as business days declined due to the Lunar New Year's holiday, central bank data showed Tuesday.

The number of companies that went belly-up decreased from a month earlier to 85 in February, according to the Bank of Korea (BOK).  The reading was the lowest since the bank began compiling the data in January 1990, reported Xinhua.

The record low figure came after the Lunar New Year's holiday moved to February this year from January last year, reducing working days last month.



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