South Korea's small and medium enterprises have high hopes for the new Moon Jae-in administration as they struggle with difficult times, industry sources said Sunday.The Korea Federation of Small and Medium Business, or K-Biz, said its Chairman Park Sung-taek met with 25 regional SME business representatives in Yeosu, 455 kilometers south of Seoul, and exchanged views on the state of the regional economy.  "Business leaders said at the gathering on Saturday that while export figures we

Samsung Electronics Co. accounted for 13 percent of the world's smartphone industry in terms of operating profit over the first quarter of 2017, data showed Sunday. According to the data compiled by Strategy Analytics, Samsung Electronics took up 12.9 percent of the combined operating profit posted by global players by posting US$1.57 billion in earnings over the January-March period, down 21.9 percent from a year earlier.  (Yonhap)Samsung's archrival Apple Inc., on the other hand, posted an ope

The unit price of South Korean-made vehicles went up this year despite a drop in export volume, industry data showed Sunday.According to findings released by the Korea Automobile Manufacturers Association and local carmakers, outbound passenger vehicle shipments reached 829,852 units in the first four months of this year, down 1.4 percent compared to a year earlier.Exports of cars made by Kia Motors Corp. and Renault Samsung Motors Co. moved up, but numbers for Hyundai Motor Co., GM Korea Co. an

South Korean exporters employed more than 6 million in 2014 as overseas shipments played a major role in fueling growth in Asia's fourth-largest economy, government data showed Sunday.The number of jobs created by the export-related businesses totaled 6.1 million people in the cited year, up from 5.3 million tallied in 2010 and 3.7 million in 2000, according to the data released by the Ministry of Trade, Industry and Energy. The findings are based on the latest available data compiled by the Ban

President Moon Jae-in's decision to shut down aged coal-fired power plants is a very encouraging first step toward switching one of the world's largest nuclear-powered countries into a renewable energy leader, the head of the Global Green Growth Institute, a Seoul-based global organization on environmental-friendly development, said. GGGI Director-General Frank Rijsberman said during an interview on Friday in Jeju Island that Korea is quite behind China and Japan in terms of clean energy use, ur

South Korea's five carmakers said Thursday their combined sales fell 13 percent last month from a year earlier on weak overseas vehicle demand. The five automakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. -- sold a total of 663,048 vehicles in May, down from 761,233 units a year earlier, according to data released by the companies.  (Yonhap)Their overseas sales plunged 14 percent to 527,605 units last month from the previous year'

South Korea plans to sell a combined 7.7 trillion won ($6.86 billion) of state bonds this month, the finance ministry said Thursday.The government will issue 1.8 trillion won in bonds with a maturity of three years, and 1.9 trillion won in five-year bonds in June. It also plans to sell 1.8 trillion won worth of 10-year Treasurys and a combined 2.2 trillion won of bonds with a maturity of between 20 and 30 years.In May, a total of 9.94 trillion won worth of Treasurys, including inflation-indexed

Hyundai Motor Co. said Thursday its sales fell 14 percent last month from a year earlier due to weaker overseas demand. The country's biggest carmaker by sales sold a total of 367,969 vehicles in May, down from 429,084 units a year earlier, the company said in a statement.  (Yonhap)Domestic sales dipped 0.4 percent year-over-year to 60,607 vehicles in May from 60,827 units a year earlier. Overseas sales plunged 17 percent to 307,362 from 368,257 during the same period, it said. As the low-growth

South Korean stocks ended lower Thursday as foreign investors and institutions cashed in recent gains following a month-long rally amid US uncertainties, analysts said. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 2.77 points, or 0.12 percent, to close at 2,344.61. Trade volume was moderate at 331 million shares worth 5.28 trillion won ($4.7 billion), with losers outnumbering gainers 449 to 355.Institutional investors and foreigners offloaded a n

Renault Samsung Motors Corp., the South Korean unit of French carmaker Renault S.A., said Thursday its May sales fell 15 percent last month from a year earlier on weak consumer demand. Renault Samsung sold a total of 20,517 vehicles in May, down from 24,113 units a year earlier, due to slowing demand for its SM3 compact and SM6 flagship sedan, the company said in a statement.  (Yonhap)Domestic sales declined 16 percent year-over-year to 9,222 units from 8,702 units a year earlier. Exports also s

The average daily turnover of the South Korean won-Chinese yuan direct trading market in Seoul fell slightly in the first five months of the year from last year, government data showed Thursday.The daily trading volume in the Seoul won-yuan direct market reached $1.55 billion in the January-May period, down from last year's daily average turnover of $1.95 billion, according to the data compiled by the Ministry of Strategy and Finance, and the Bank of Korea. The turnover has been on a decline sin

FC Augsburg's South Korean forward Ji Dong-won said Thursday he will try to score more goals and get more assists in the Bundesliga after completing a healthy season.Ji played in all 34 league matches for Augsburg -- starting in 24 -- in the 2016-17 season. This is the first time that the 26-year-old appeared in all league matches since he moved to Europe in 2011. He also featured in two German Cup matches this past season. In this file photo taken on March 20, 2017, South Korean forward Ji Dong

Kia Motors Corp. said Thursday its vehicle sales fell 9.8 percent last month from a year earlier on lower demand at home and overseas. The country's second-biggest carmaker by sales sold a total of 219,128 vehicles in May, down from 242,847 units a year earlier, the company said in a statement.  (Yonhap)"Compared to the same period of last year, the lack of tax benefits and new models drove down the sales results in May," the company said in a statement. Domestic sales fell 8.6 percent on-year t

An investment forum bringing together virtual reality  companies from South Korea and China, as well as top global venture capital firms will be held at an ongoing VR event in the southern port city of Busan, the government said Thursday.The forum will take place on Friday on the sidelines of the Busan VR Festival 2017 at the Busan Exhibition & Convention Center, the Ministry of Science, ICT and Future Planning said. The event, the first of its kind, kicked off on Thursday for a three day-run. (

SsangYong Motor Co. said Thursday its May sales fell 7 percent last month from a year earlier due to slowing overseas demand. The South Korean unit of Indian carmaker Mahindra & Mahindra Ltd. sold a total of 12,349 vehicles in May, down from 13,282 units a year earlier, SsangYong Motor said in a statement.  (Yonhap)Domestic sales rose 11 percent to 10,238 units last month from 9,191 units a year earlier. But exports plunged 48 percent to 2,111 autos from 4,091 during the same period, the stateme

GM Korea Co., the South Korean unit of General Motors Co., said Thursday its May sales fell 17 percent from a year earlier due to weak domestic demand. GM Korea sold 43,085 vehicles in May, down from 51,907 units tallied a year earlier, the company said in a statement.  (Yonhap)Exports fell 10 percent to 31,231 from 34,728. Domestic sales also plunged 31 percent to 11,854 units from 17,179 during the same period, it said. The sales downturn was affected by the sharp decline in local demand for t

South Korean defender Jang Hyun-soo said Thursday he is eager to leave his Chinese club to get more playing time elsewhere.Jang, who plays with Guangzhou R&F in the Chinese Super League, is one of the 24 players called up by national football head coach Uli Stielike for South Korea's friendly match against Iraq on June 7 and their FIFA World Cup qualifier against Qatar on June 13. South Korean defender Jang Hyun-soo (left) tries to defend Son Heung-min during the national football team's trainin

The US Federal Reserve could raise its interest rate four times this year if the economy strengthens, a senior Fed official said Thursday.John C. Williams, President and CEO of the Federal Reserve Bank of San Francisco, said that three rate increases this year is a reasonable baseline view, but there is potential for upside occurrences in the economy. "I could imagine if the economy strengthens, four rate increases this year would be appropriate," Williams said in a news conference in

Lotte Group, South Korea's food and retail giant, unveiled Thursday its new research and development center in eastern Seoul, vowing to strengthen its food and bio sectors.The conglomerate has spent a total of 225 billion won ($201 million) in constructing the new eight-story building on 83,000 square meters. (Yonhap)"(The research center) will be the base for the food affiliates' leap toward global markets and a mecca that realizes the future of our food industry," Lotte Group Chairman Shin sai

South Korean stocks traded lower late Thursday morning as foreign investors and institutions offloaded large-cap stocks in an apparent move to lock in profits.The benchmark Korea Composite Stock Price Index lost 3.99 points, or 0.17 percent, to 2,343.39 as of 11:20 a.m.Most large caps traded mixed with market kingpin Samsung Electronics inching down 0.27 percent after opening higher. SK hynix, a major chipmaker, also shed 1.05 percent.The state-run Korea Electric Power Corp., meanwhile, gained 3