Samsung Electronics Co., the world’s second-largest mobile phone maker, maintained its lead in the North American cell phone market last year with a record share, industry data showed Tuesday. Samsung shipped 58.4 million cell phones in 2010 in the United States and Canada, claiming 30.2 percent of the handset market there, according to the data by market research firm Strategy Analytics, Inc. The

Korea’s banking giants are tapping China, Vietnam and other Asian countries as they wade through competition in the highly saturated local credit card market, industry watchers said Tuesday.The overseas push comes as Korean card firms have been beefing up their marketing expenses in a bid to lure more subscribers with spin-offs and new entries expected to further intensify competition to grab a bi

Korea‘s economy still faces many uncertainties despite its recent rebound, a government report said Tuesday, urging more efforts to achieve a “sustained” recovery by coping with lingering downside risks at home and abroad. Debt problems in advanced nations, growing inflationary pressure in emerging countries and unrest in the Middle East are cited as downside factors that could weigh on the Korean

The use of Internet banking in Korea rose 27 percent last year from a year earlier as more people conducted financial transactions online for convenience, the central bank said Tuesday.Online banking transactions reached 33.7 million per day on average in 2010, compared with 26.5 million the previous year, according to the Bank of Korea. The data is based on users checking financial records, trans

SAN FRANCISCO (AFP) – Amazon on Monday released a preview version of a Kindle software update that puts electronic book readers on the same page with friends still clinging to ink and paper works.Page numbers in tens of thousands of Kindle digital books, including bestsellers, have been matched with those in real-world copies of the titles.“Our customers have told us they want real page numbers th

SAN FRANCISCO (AP) ―AOL Inc.’s $315 million deal to buy news hub Huffington Post signals that it is serious about building its profile as a media company as its legacy dial-up Internet business dies away.The acquisition announced Monday is AOL CEO Tim Armstrong’s most aggressive play so far as he tries to reshape a fallen Internet icon and boost efforts in news and online advertising. It is the la

KT Corp., Korea’s largest phone and Internet company, agreed to buy a 20 percent stake in BC Card Co. from Woori Bank to expand into mobile-payment services.Woori will have the option of buying back a portion of the stake if KT begins its own credit-card business, Lee In Won, a spokesman for the Seongnam, Korea-based phone carrier, said Tuesday. The deal is subject to further internal approval, he

Prices of public services in Korea grew at the fastest pace in more than four years in January, adding to burdens in the daily lives of low- and mid-income people, data showed Monday.According to the data offered by the finance ministry and the statistics agency, the average prices of the nation’s 32 major public services, including heating gas and tap water, rose 0.9 percent last month from Decem

Korea’s stock market capitalization returned to the $1 trillion level for the first time in three years in 2010 as an economic recovery and corporate profit gains led to strong rallies, the bourse operator said Monday.The country’s total market cap of its main board and the tech-heavy junior market reached $1.92 trillion at the end of 2010, up 30.8 percent from a year earlier, the Korea Exchange s

Korea’s foreign exchange reserves rose to a fresh high in January as a soft U.S. dollar bolstered the conversion value of assets in other currencies, the central bank said Monday.The country’s foreign reserves reached $295.96 billion as of the end of January, up $4.39 billion from the previous month, according to the Bank of Korea.The reserves rose for the second straight month in January, surpass

The number of regular workers in Korea reached an all-time high last year as businesses increased their number of longer-term workers amid rebounding economic conditions, data showed Monday.The number of workers who remained employed for a year or longer totaled 10.09 million last year, the highest since related statistics started to be compiled in 1989, according to the data provided by the finan

Korean stocks finished 0.47 percent higher on Monday, led by financial companies, as upbeat U.S. data boosted investor sentiment amid subdued trading after a national holiday, analysts said. The local currency climbed against the U.S. dollar. After rising more than 1.7 percent at one point, the benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,081.74, up 9.71 points from the previous

Korea’s major economic organizations called on the government Monday to significantly postpone its plan to introduce a carbon emissions trading system in 2012, saying it could hurt the country’s industrial competitiveness.The five economic organizations, including the Federation of Korean Industries, the largest industry lobby in the country, urged the government to delay the move at least until 2

Korea’s video search technology provider, Enswers Inc., said Monday that it has agreed to acquire a Silicon Valley-based online company, Soompi Media LLC, to create a U.S.-based Web portal for Korean pop culture and news.Under the agreement, Enswers will introduce this month a revamped service of Soompi.com powered by its own video search technology in a bid to bring Korean dramas, music, movies a

HONG KONG (Yonhap News) ― Kia Motors Corp., Korea’s second-largest automaker, posted record-high monthly sales in China last month, backed by strong demand for its sport utility vehicle, company officials said on Sunday.In January, Kia Motors sold 38,858 units of vehicles in the world’s most populous country, up 22.7 percent from a month earlier and also 13.7 percent from the same period last year

LG Display Co., the world’s second-largest maker of liquid-crystal displays, said it’s in talks with TPV Technology Ltd. to form a venture in Poland to manufacture LCD modules and televisions.The venture will help reduce production costs by making TV parts and sets in one factory, Claire Ohm, a Seoul-based spokeswoman for LG Display, said in a telephone interview Monday. LG has similar operations

Korea’s two largest electronics makers are vying to get an upper hand in the fast growing market for smart home appliances.Samsung Electronics and LG Electronics recently rolled out refrigerators, washers and air conditioners featuring improved technology in artificial intelligence, wireless access and efficient electricity control.Samsung Electronics’ home appliances division head Hong Chang-wan

An event to help turn South Korea into a nation of whisky-lovers is to be held this month. The Whisky Live international road show will come to Korea for the first time on Feb. 27. More than 2,000 people are expected to attend the event boasting more than 100 products from over 40 whisky brands. Attractions will include samplings, whisky master classes, VIP sessions, bartender awards, as well as m

Donna Karan, George Clooney and Greenday ― although they’re all big American stars, the three belong to distinctively different genres. But it turns out the trio have something else in common ― they are among the 660 world-famous celebrities who have donated smartphone and tablet PC cover designs to raise money for people living in underprivileged countries. Part of the proceeds from the covers ―

Korean banks saw their earnings surge 35.6 percent last year from a year earlier thanks to increased interest income and profits from sales of stock holdings, the financial regulator said Tuesday.Net income by 18 local banks, including top lender Kookmin Bank and Woori Bank, came to 9.4 trillion won ($8.4 billion) in 2010, compared with 6.9 trillion won in 2009, according to a report by the Financ