Seoul City

S.Korea April inflation falls to 21-month low

musiclover — Mon, 30 Apr 2012 23:43:05 +0000

South Korean inflation ticked down to a 21-month low in April, data showed on Tuesday, coming in below market forecasts for the second month in a row and indicating price pressures are not an immediate threat to Asia’s fourth-largest economy.

The consumer price index rose 2.5 percent in April from a year earlier, Statistics Korea data showed, the slowest since July 2010 and falling from 2.6 percent in March and 3.1 percent in February. Consumer prices were flat in April compared with March.

N.Korean army vows to turn Seoul to ashes

musiclover — Mon, 23 Apr 2012 22:43:54 +0000

North Korea’s military on Monday threatened “special actions” soon to turn parts of the South Korean capital to ashes, accusing Seoul’s conservative government of defaming its leadership.
The North has for months been criticising the South’s President Lee Myung-Bak in extreme terms
and threatening “sacred war” over perceived insults. There have been no incidents but the language has become increasingly vitriolic. Some analysts said they believe a military provocation is likely.

Seoul shares open down over 1 pc

musiclover — Tue, 17 Apr 2012 00:13:38 +0000

Seoul shares opened down more than 1 percent on Monday, tracking a broad decline in global peers over renewed euro zone fears as debt insurance costs and government bond yields soared in Spain. Early falls were led by financials. Hana Financial Group slid 3.4 percent while KB Financial Group shed 2.6 percent. The Korea Composite More >

Seoul shares seen higher on U.S. factory data

musiclover — Tue, 03 Apr 2012 01:03:34 +0000

Seoul shares are set to open
higher on Tuesday, after a rally on Wall Street pushed the S&P
500 to a fresh four-year high on robust U.S. and China factory
data. “The U.S. stock rally will definitely lend a hand. Worries of a slowdown in China’s economy are starting to settle, helping recently laggard, China-related issues to post a strong recovery,” said Bae Sung-young, an analyst at Hyundai
Securities.

The Institute for Supply Management said on Monday its index of U.S. factory activity rose in March to top economists’
expectations. Factory activity also strengthened in China, South Korea and Taiwan, although output was still far from
robust.

Seoul Nuclear Security Summit Gets Underway

musiclover — Mon, 26 Mar 2012 23:40:52 +0000

Seoul Nuclear Security Summit kicks off at 4:30 p.m. on Monday in COEX, Samseong-dong, Gangnam-gu in southeastern Seoul. It brings together 58 national leaders and heads of international organizations including U.S. President Barack Obama, Chinese President Hu Jintao, Russian President Dmitry Medvedev and Japanese Prime Minister Yoshihiko Noda.

At the end of the Summit on Tuesday, the leaders will adopt a communiqué calling for a worldwide reduction of fissile materials to decrease the possibility of nuclear terrorism.

Seoul Slams N.Korean Rocket Plan as Nuclear Test

musiclover — Tue, 20 Mar 2012 00:42:27 +0000

South Korea accused North Korea on Monday of using a planned satellite launch to further development of a long-range missile capable of carrying a nuclear payload. The North announced Friday that it would launch a rocket in mid-April to put a satellite into orbit for peaceful purposes.

After a meeting Monday morning of foreign and security ministers, presided over by South Korean President Lee Myung-bak, the presidential Blue House issued a statement calling the planned launch a “grave provocation.”

Seoul shares seen drifting higher, trapped in range

musiclover — Tue, 13 Mar 2012 01:01:05 +0000

Seoul shares are seen stuck in a narrow range on Tuesday as investors wait on a meeting of the U.S. Federal Reserve’s policymaking panel, but may post a modest rebound after Monday’s slide on technical support and signs of easing in China.

“Jitters from lacklustre Chinese data have already been priced in. Now the focus has shifted to whether it will trigger easing steps by Chinese policymakers,” said Oh On-su, an analyst
at Hyundai Securities.

Seoul nuclear summit to focus on safety

musiclover — Tue, 06 Mar 2012 00:52:30 +0000

South Korea’s foreign minister said on Monday that the question of how to strengthen global atomic safety following Japan’s nuclear disaster would be a key topic at an upcoming summit in Seoul. Kim Sung-Hwan said the Fukushima disaster highlighted the vulnerability of nuclear power plants and the extent of damage that could be caused by More >

Seoul holds military drills despite NKorea threat

musiclover — Tue, 21 Feb 2012 00:38:37 +0000

South Korea conducted live-fire military drills near its disputed sea boundary with North Korea on yesterday despite Pyongyang’s threat to respond with a “merciless” attack — a threat it did not immediately make good on.

Analysts said North Korea was unlikely to respond with more than words because it is focusing on internal stability two months after the death of leader Kim Jong Il. North Korea is also days away from its first nuclear disarmament talks with the US since Kim’s death.

Seoul shares gains seen limited after 6 week rally

musiclover — Mon, 13 Feb 2012 20:22:21 +0000

Seoul shares are expected to open higher on Monday after the Greek parliament approved an austerity bill to secure a second bailout from the European Union and International Monetary Fund, analysts said. But the rise may be capped as Seoul shares posted a sixth consecutive week of gains last week and concerns linger about coordinated More >