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  • Seoul presses Daewoo Shipbuilding creditors to back bailout

    SEOUL -- The state-run Korea Development Bank on Monday urged creditors of Daewoo Shipbuilding & Marine Engineering to agree to a government-led capital injection and debt-rescheduling program for the ailing company.Creditors will vote on the plan e

    April 10, 2017 11:42 pm JST
  • Nikkei Asia300 Index loses as US rate caution, geopolitical risks weigh

    HONG KONG (Nikkei Markets) -- Asian stocks edged lower as the threat of rising U.S. interest rates and caution amid growing geopolitical tensions kept investors on the sidelines.The Nikkei Asia300 Index lost 0.1% or 1.5 points to 1,168.78. China Pet

    April 10, 2017 09:08 pm JST
  • Profits at foreign lenders in South Korea plunge 39% in 2016

    SEOUL -- Foreign lenders in South Korea had a bad 2016, with net profits at 43 banks down 39.1% from a year ago, largely due to low interest rates.According to the Financial Supervisory Service, the industry regulator, combined net profits of the na

    April 10, 2017 07:45 pm JST
  • Centrist Ahn Cheol-soo leads in South Korean election poll

    SEOUL -- A poll shows surging support for Ahn Cheol-soo of the People's Party, propelling him past Moon Jae-in of the Democratic Party to lead the South Korean presidential race, the Yonhap News Agency said Sunday.The approval rating for Ahn, the fo

    April 10, 2017 03:10 pm JST
  • South Korea's Park removes seven of nine lawyers defending her

    SEOUL -- Impeached South Korean President Park Geun-hye has dismissed seven lawyers from her nine-member defense team. The deposed president was arrested on several charges, including corruption. The revelation came on Sunday from a source at the pr

    April 10, 2017 02:10 pm JST
  • Kia outshines parent Hyundai at South Korean auto show

    SEOUL -- Kia Motors grabbed the spotlight at an automotive exhibition near here with its first-ever luxury sedan as parent Hyundai Motor played it safe on the high end.This is the South Korean premiere of a new vehicle that symbolizes Kia's luxury c

    April 9, 2017 11:00 pm JST
  • LG to high-end TV competitors: It's on

    SEOUL -- LG Electronics has put its rivals on notice: It will not cede its leading position in the nascent OLED TV market without a fight.The South Korean manufacturer's new flagship model -- made with a bendable layer of organic light-emitting diod

    April 9, 2017 03:00 pm JST
  • Hyundai, Kia to recall nearly 1.5 mln vehicles over engine issue

    SEOUL (Reuters) -- Hyundai Motor Co and Kia Motors Corp plan to recall 1.48 million vehicles in the United States, Canada and South Korea due to engine issues, the latest blow for two firms already struggling in key markets.The recall could cost the

    April 8, 2017 10:19 am JST
  • Pyongyang ratchets up anti-US rhetoric

    SEOUL -- North Korea has threatened pre-emptive strikes on U.S. and allied military installations in response to what it calls political, military and economic pressure and provocations -- a sign of growing concern in Pyongyang over Washington's sho

    April 8, 2017 05:17 am JST
  • Memory chips guide Samsung through troubled waters

    SEOUL -- Even as the Note 7 smartphone fiasco and the arrest of top executive Lee Jae-yong loom over Samsung Electronics, the South Korean technology group has turned in its second-highest quarterly operating profit on the back of hot-selling memory

    April 8, 2017 02:06 am JST
  • Prosecution says Samsung leader deserves life imprisonment

    SEOUL -- South Korean special prosecutors said Friday that Samsung's vice chairman and de facto leader Lee Jae-yong deserves life imprisonment for the alleged embezzlement of almost 30 billion won ($26.4 million) of corporate funds to bribe a longti

    April 8, 2017 12:10 am JST
  • Nikkei Asia300 Index slips after US strikes Syria

    HONG KONG (Nikkei Markets) -- Asian stocks fell on Friday as investor nerves were rattled after the U.S. carried out a missile strike on Syria following a deadly chemical attack in the nation's rebel-held area.The Nikkei Asia300 Index slipped 0.4% o

    April 7, 2017 08:35 pm JST
  • Asian stocks slide as US strike on Syria jolts risk appetite

    HONG KONG (Nikkei Markets) -- Asian shares stumbled as investors sold off risk assets after the U.S. carried out a missile strike on Syria in response to a chemical attack that killed scores of civilians in the nation's rebel-held area.The Nikkei As

    April 7, 2017 01:46 pm JST
  • Samsung points to 48% quarterly profit surge

    SEOUL -- Samsung Electronics on Friday released brisk preliminary earnings for the first quarter of 2017, largely driven by the memory chips it makes for other companies' smartphones.The South Korean conglomerate said its operating profit for the Ja

    April 7, 2017 12:00 pm JST
  • Samsung forecasts best quarterly profit in over 3 yrs as chips soar

    SEOUL(Reuters) -- South Korean tech giant Samsung Electronics Co Ltd forecast on Friday its best quarterly profit in more than three years in the January-March period, beating expectations on the back of robust demand for memory chips.The Apple Inc

    April 7, 2017 09:10 am JST
  • The internet poised to dethrone TV as ad king

    PALO ALTO, U.S. -- Television's reign as the dominant advertising medium appears near its end, as sellers increasingly reach out to consumers through mobile devices.The rise of smartphones provides a tailwind for spending on internet ads, which is e

    April 7, 2017 08:00 am JST
  • South Korean ministers snub meeting with Japanese ambassador

    SEOUL -- Two South Korean cabinet members have declined to meet with Japanese Ambassador Yasumasa Nagamine, who recently returned to Seoul after a three-month recall, their ministries said Thursday.Unification Minister Hong Yong-pyo and Defense Mini

    April 7, 2017 06:00 am JST
  • OLED supply seen staying tight for at least 2 years

    TOKYO -- Organic light-emitting diode panels for smartphones are likely to remain in tight supply until 2019 or later, as output falls behind growing demand for the high-resolution screen components.Global demand for the panels probably will grow 44

    April 7, 2017 04:30 am JST
  • Centrist Ahn quickly gaining support in South Korea election

    SEOUL -- As the South Korean presidential race heats up ahead of the May 9 election, former People's Party co-chair Ahn Cheol-soo is rapidly closing in on front-runner Moon Jae-in by attracting voters who oppose the latter's liberal policy ideas.Six

    April 7, 2017 03:15 am JST
  • Seadrill crisis spreads to battered South Korean shipbuilders

    SEOUL -- Seadrill's liquidity crisis is deepening problems for South Korean shipbuilders as the debt-ridden Norwegian company shirks from the drill ship orders it had placed, potentially causing losses of hundreds of millions of dollars.Samsung Heav

    April 6, 2017 09:08 pm JST