Electronics and semiconductors have led the latest stock market boom in Asia's fourth-biggest economy, data showed Thursday, amid expectations of solid corporate earnings helped by the global economic recovery.Stock prices of Samsung Electronics, SK hynix, and other electronics and semiconductor manufacturers rose 37.32 percent as of Tuesday from the beginning of this year, more than double the increase rate of 18.05 percent for the benchmark Korea Composite Stock Price Index, according to data

Air traffic in South Korea rose 4 percent in May from a year earlier helped by increased demand on non-Chinese routes, government data showed Thursday. The number of passengers on Korean and international routes run by domestic airline carriers rose to 8.74 million last month from 8.41 million a year earlier, the Ministry of Land, Infrastructure and Transportation said in a statement.  (Yonhap)"An increase in travel demand on routes to and from Japan and Southeast Asian countries helped offset s

Sales of key retailers in South Korea grew 6.3 percent last month from a year earlier, led by the strong performance in the online sector, government data showed Thursday.The combined revenue of 26 online and offline retailers reached 10.29 trillion won ($9 billion) in May, compared with 9.68 trillion won the previous year, according to the data from the Ministry of Trade, Industry and Energy. Of the total, 13 offline-based retailers, including department stores, discount chains and convenience

A recently completed highway will allow people living in Seoul to reach a popular tourist destination on the East Sea in less than two hours, the transport ministry said Thursday.It used to take two to three hours to reach Yangyang, 215 kilometers east of the capital city, using existing highways and roads. This, however, has changed, with provincial roads from East Hongcheon to Yangyang being transformed into an expressway, authorities said. A speedway already exists between the capital and the

Doosan Group, a major South Korean power equipment conglomerate, said Thursday that it has strengthened ties with US counterparts to expand its presence in the world's largest market.Doosan Heavy Industries Co., South Korea's top power equipment maker, signed a memorandum of understanding in the United States on Wednesday (local time) to buy ACT, a Houston-based gas and steam turbine repair service provider, for an undisclosed amount.Should the deal go smoothly, Doosan Heavy will be able to secu

The number of apartment complexes designated as no-smoking zones reached 158 across the country in April, government data showed Thursday, amid a growing number of health-conscious people joining the anti-smoking campaign. The law, which took effect Sept. 3, 2016, allows provincial governments to designate all or part of corridors, stairs and underground parking garages of apartments as no-smoking zones upon approval by at least half of the residents. A file photo of an apartment building in Che

Annual exports of South Korean health care and cosmetics goods surpassed the $10 billion mark for the first time in 2016, helped by strong overseas demand, the Ministry of Health and Welfare said Thursday.Outbound shipments of locally produced drugs, medical equipment and cosmetics reached $10.22 billion last year, up 19.1 percent from the previous year, the ministry said.The ministry said South Korea witnessed an average annual export growth of 19.4 percent between 2012 and 2016. (Yonhap)Export

LG Electronics Inc. said Thursday it will supply its advanced driver-assistance system cameras to a premium German carmaker, tapping deeper into the vehicle components business.Through the deal, the South Korean company will supply camera modules and software to its German counterpart. LG did not reveal the name of the partner, citing business confidentiality.LG said the camera will help users drive safely by detecting various objects surrounding cars and maintaining optimal distance with other

South Korean retailers saw their sales fall slightly this month, industry data showed Thursday, despite steady improvements in consumer sentiment. Lotte Department Store, the country's leading top-end retailer, said its sales fell 1.3 percent from a year earlier in the June 1-27 period.  This photo provided by leading retail chain Lotte Department Store on June 28, 2017, shows its store in the southeastern city of Busan.Its rival Hyundai Department Store also saw its revenue from the same period

The debt burden of South Koreans in their 20s and 30s has grown at the fastest pace among all age groups over the past three years amid a spike in household debt, central bank data showed Thursday.The so-called loan-to-income ratio for 20-somethings and 30-somethings has risen 36.2 percent over the three years, meaning their debt has gained at an annual average rate of 12 percent amid stalled income growth, according to the data from the Bank of Korea. Yet the LTI for the young Koreans came to 1

Samsung Electronics Co. said Thursday its flagship Galaxy S8 and Galaxy S8 Plus smartphones were given top honors during the Mobile World Congress Shanghai 2017.The South Korean tech giant said the GSMA, a global body of mobile carriers, named the flagship devices as the "Best Smartphones" during the electronics fair. (Yonhap)Samsung said the GSMA praised the smartphones' unique design and distinctive features.The devices feature high-resolution displays that bend on both sides and come with var

Russia's state antitrust body indicted LG Electronics Inc.'s Russian arm on allegations that the South Korean company fixed smartphone prices, industry sources said Thursday.According to Russia's Tass news agency, the authority claimed that LG Electronics RUS used a special monitoring system on retailers to control smartphone prices. (Yonhap)The South Korean tech giant is expected to face massive fines if the allegations turn out to be true.LG Electronics RUS said other companies also use monito

Samsung Display Co. maintained its status as the world's No. 1 smartphone display maker in the first quarter, market data showed Thursday, apparently helped by robust shipments of flexible organic light-emitting diode products.According to the data compiled by industry tracker IHS Markit, the combined global sales of LCD and OLED displays that are 9 inches or smaller came to $13 billion in the January-March period, up 35 percent from a year earlier. (Yonhap)Samsung Display posted sales of $3.5 b

Repayment of derivatives-tied securities rose during the first quarter of this year as more investors took profits amid a rally in the local stock market, data showed Thursday. The issuance of equity-linked securities and derivatives-linked securities (DLS) gained by 11.4 trillion won ($9.97 billion) on year during the January-March period, but repayment also rose by 18.1 trillion won. Accordingly, the total balance of derivatives-tied securities fell to 97.7 trillion won at the end of March, co

South Korean manufacturers' business sentiment for July worsened from this month as local companies expect a slight decline in domestic demand and exports, central bank data showed Thursday.The business survey index of manufacturing firms came to 80 for next month, down from 84 in June, according to the Bank of Korea. A reading below 100 means pessimists outnumber optimists, while a reading above the benchmark means the opposite.An index measuring local firms' sentiments toward exports came to 8

Audi, BMW and Mercedes-Benz have been ordered to recall more than 5,700 vehicles in South Korea for faulty parts, the transport ministry said Thursday. This is the latest in a series of recall orders issued by the Ministry of Land, Infrastructure and Transport against both domestic and foreign carmakers. The carmakers plan to recall 24 different models totaling 5,731 units. The subjected models include the Audi A6 50 TFSI Quattro sedan, Mercedes-Benz's B200 CDI 4Matic and BMW's G310R motorcycle,

WASHINGTON -- The United States and South Korea are united in efforts to bring North Korea under control, US Secretary of State Rex Tillerson said Wednesday.At the start of his first meeting with new South Korean Foreign Minister Kang Kyung-wha, Tillerson was asked if the two countries are "on the same page on reining in North Korea" and responded, "Of course."No further details of their discussions were immediately available. Foreign Minister Kang Kyung-wha shakes hands with US Secretary of Sta

South Korean shares opened higher Thursday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 12.14 points, or 0.51 percent, to 2,394.70 in the first 15 minutes of trading. The index hit a fresh intra-day record high of 2,397.95 at one point. Most large caps traded mixed with market kingpin Samsung Electronics gaining 1.26 percent.Top automaker Hyundai Motor fell 0.62 percent, while top steelmaker POSCO rose 0.53 percent.The local currency was tra

AIR FORCE ONE -- South Korean President Moon Jae-in on Wednesday said reducing his country's joint military exercises with the United States was not an option for now, though it may be considered following what he called irreversible and verifiable steps by North Korea to denuclearize."First of all, the official position we have now is that North Korea's nuclear freeze and reduction of joint military exercises between South Korea and the United States cannot be linked," Moon said."That has been

WASHINGTON -- The deployment of the US THAAD missile defense system won't be a major topic for this week's summit talks between President Moon Jae-in and US President Donald Trump, a senior White House official said Wednesday."President Moon has been very clear in recent days. His government and his new foreign minister have been clear in stating their view that there is a process involved in completing the deployment of that system. They've both said that they don't see that should not be equat