Smartphones with wider displays including 5.5-inch models have emerged as the new mainstream in the global market, an industry tracker said Wednesday, amid rising demand for gaming and video streaming content via mobile devices. The trend is significant as late Apple CEO Steve Jobs preferred to have smaller handsets for single-hand use, which caused earlier iPhones to maintain a screen size of 3.5 inches. (Yonhap)According to industry tracker IDC, the global shipment of smartphones with 4-inch d

South Korea's exports to the group of Southeast Asian countries more than doubled over the last decade as commerce and investment increased following the implementation of a free trade deal, government data showed Wednesday.Outbound shipments to the 10 member countries of the Association of Southeast Asian Nations reached US$74.52 billion in 2016, compared with $32.1 billion in 2006, according to the data by the Ministry of Trade, Industry and Energy. With the South Korea-ASEAN free trade deal t

South Korean shares traded higher late Wednesday morning as foreign and institutional buyers scooped up big cap stocks amid a massive selling spree by individuals.The benchmark Korea Composite Stock Price Index added 9.42 points, or 0.4 percent, to 2,353.10 as of 11:20 a.m.The index opened lower on losses in market heavyweights, including market bellwether Samsung Electronics. However, the local index pared earlier losses as most market heavyweights turned higher.Top cap Samsung Electronics adva

Nearly half of the top 30 conglomerates in the country in 2000 either fell out of the rankings or have been dissolved, with only Samsung Group firmly entrenched in the No. 1 position, an analysis showed Wednesday.Corporate tracker CEO Score compared the top 30 business groups of 2000 and those in 2016 in terms of state-appraised assets. Over the 17-year period, 13 conglomerates lost ground in terms of status or disappeared altogether from the list, according to the analysis. (Yonhap)Twelve of th

Creditors of cash-strapped Daewoo Shipbuilding & Marine Engineering Co. are set to inject fresh funds into the embattled shipyard next week, later than earlier scheduled, due to the delay in the debt rescheduling scheme, industry sources said Wednesday.According to the sources, the state-run Korea Development Bank-led creditors are expected to start injecting 500 billion won ($444 million) in cash into the shipbuilder in the coming days as the shipyard could face a cash shortage next month. (Yon

China-based tech manufacturer ZTE Corp. is gradually expanding its presence in the South Korean market by joining forces with local companies, industry watchers said Wednesday. There are currently three ZTE-manufactured devices being sold in South Korea, including the LINE Friends smartphone released through KT Corp., the country's No. 2 mobile carrier. Inspired by characters made by LINE Corp., a Japan-based arm of South Korea's Naver Corp., the handset that targets children marks a rare tie-up

South Korea's antitrust watchdog will probe unfair subcontracting practices in the local software industry next month as part of efforts to level the playing field, the nominee for its chief said Wednesday.Kim Sang-jo, who has been named the chairman of the Fair Trade Commission, made the remark in a written report to Rep. Park Yong-jin of the ruling Democratic Party of Korea for a parliamentary confirmation hearing. The date for Kim's hearing has yet to be fixed. (Yonhap)"The FTC will carry out

South Korea's industrial output backtracked in April from a month earlier due to the decline in the production of chips and cars, government data showed Wednesday.Production in the mining, manufacturing, gas and electricity industries fell 2.2 percent on-month in April, retreating from a 1.2 percent on-month gain in the previous month, according to the data by Statistics Korea. (Yonhap)From a year earlier, the figure rose 1.7 percent on-year in April on the back of a sharp output increase in the

Debt sales by South Korean companies jumped 64.5 percent on-month in April, data showed Wednesday, as firms sought to take advantage of record low interest rates. South Korean firms issued bonds worth 16.9 trillion won ($15 billion) last month, compared with 10.3 trillion won worth of bonds issued in February, according to the data by the Financial Supervisory Service.(Yonhap)Sales of debts by nonfinancial firms soared 77.2 percent on-month to 4.3 trillion won in March, the data showed. Financia

A Los Angeles city planning commissioner aspiring to become the first Korean-American member of the House of Representatives in more than 18 years called Tuesday for President Donald Trump to adopt a new approach to the growing problem of North Korea."North Korea has conducted two underground nuclear tests and fired off dozens of ballistic missiles since 2016 in defiance of UN and international sanctions," said Robert Ahn, one of the two congressional candidates in the runoff election in Califor

The US Defense Department said Tuesday it has been "very transparent" in its deployment of the THAAD missile defense system to South Korea, after President Moon Jae-in expressed frustration and ordered an investigation into how additional launchers were brought in without his knowledge."We continue to work very closely with the Republic of Korea government and we have been very transparent in all of our actions throughout this process," Pentagon spokesman Navy Capt. Jeff Davis told reporters.(Yo

The country's top court on Tuesday remanded the case of a former head of telecom giant KT Corp., who was convicted of running a slush fund and embezzlement.The Supreme Court sent the case of Lee Suk-chae back to the Seoul High Court, saying there is a lack of evidence that he created a slush fund of some 1.1 billion won ($978,000) and personally used the money.Lee Suk-chae, former chief of telecom giant KT Corp., arrives at the Seoul High Court in the capital on April 27, 2016, to stand trial on

Veteran South Korean forward Lee Keun-ho said Tuesday he is not too hyped about his national team return, emphasizing that South Korea's victory in the upcoming FIFA World Cup qualifier is the most important thing.Lee returned to the national team for the first time since January 2015 after he was included in the 24-man squad for South Korea's FIFA World Cup qualifying match against Qatar in Doha next month. South Korean national football team forward Lee Keun-ho controls the ball during team pr

South Korean stocks ended slightly lower Tuesday as foreign investors and institutions offloaded large-cap stocks in an apparent move to lock in profits. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index shed 9.29 points, or 0.39 percent, to 2,343.68.Bae Sung-young, a market analyst at KB Securities Co., said institutions and foreign investors sold Samsung Electronics and other major technology stocks in an apparent profit-taking move.This, he said caused

South Korean midfielder Lee Chung-yong said Tuesday he is determined to prove that he is still a player worthy of a place on the national team.Lee is one of 24 members selected by head coach Uli Stielike for South Korea's FIFA World Cup qualifier against Qatar next month. With three matches remaining in Group A, South Korea are currently in second place, the last automatic qualification spot, with 13 points from four wins, one draw and two losses, four behind leaders Iran.  In this file photo ta

Hyundai Motor Co. said Tuesday it will unveil its brand new subcompact sport utility vehicle locally on June 13 as it released a teaser image highlighting the car's low silhouette and wide stance.South Korea's largest carmaker by sales is set to make its foray into North American and European markets this summer with the Kona SUV. Hyundai said the B-segment SUV market, which its new vehicle falls into, has been attracting growing number of customers globally. Teaser image of Hyundai Motor Co.'s

The financial regulator said Tuesday it will apply tighter rules for mortgage loans to all mutual savings institutions starting next month, in the latest step to control fast-growing household debt. The tighter rules, which already have been applied to retail banks and other depository institutions, require borrowers to repay both interest and a part of principal until maturity. A total of 1,925 mutual savings institutions and credit units with assets below 100 billion won ($89 million) each wil

Choo Shin-soo of the Texas Rangers has gone deep for the sixth time this season, while also extending his on-base streak to a dozen games.Batting leadoff and playing right field, Choo went 2-for-4 with a home run and three RBIs against the Tampa Bay Rays at Globe Life Park in Arlington, Texas, on Monday (local time). Despite Choo's heroics at the plate, the Rangers lost 10-8. Choo is batting .255 for the season. Choo Shin-soo of the Texas Rangers (Yonhap)Choo's sixth home run of 2017 was a solo

Combined sales of South Korean companies rose 1.1 percent in 2016 from a year earlier due to a slowdown in the decline in oil prices and a brisk housing market, central bank data showed Tuesday.The annual figure marked a turnaround from 2015 when the annual sales growth rate for domestic companies contracted 2.4 percent. In 2014, sales of South Korean companies backtracked 0.3 percent. (Yonhap)The Bank of Korea said oil prices and housing bolstered combined sales of South Korean companies in 201

South Korea's financial regulator said Tuesday it will relax some capital rules and other technical standards for insurance firms to help them better cope with changes in global accounting rules. South Korea is one of more than 100 nations that will adopt the new global bookkeeping standard or the International Financial Reporting Standards 17, starting in January 2021.  When adopted, some insurers in South Korea will face capitalization pressure, analysts said. To help insurers alleviate p