Asia Top News and Analysis Korea

  • SEOUL, Sept 27- Samsung Electronics Co said on Tuesday it has got back around 60 percent of recalled Galaxy Note 7 smartphones sold in South Korea, the United States and Europe, suggesting it is making progress in its attempts to recover from the crisis. Samsung hopes to take the faulty products off the market as soon as possible in order to limit further damage to...

  • NEW YORK— U.S. stocks rebounded Tuesday and climbed after a survey showed consumer confidence is at a nine-year high, a sign Americans will keep spending in the months to come. U.S. consumer confidence reached its highest level this month since August 2007, according to the Conference Board. Katie Nixon, chief investment officer for Northern Trust, said it's even...

  • WASHINGTON, Sept 26- The United States said on Monday it had sanctioned a Chinese industrial machinery and equipment wholesaler, a new step in tightening the financial noose around North Korea's nuclear program after its fifth nuclear test this month. It accused the firm of acting on behalf of North Korea's Korea Kwangson Banking Corp, which has been under U.S....

  • WASHINGTON, Sept 26- The United States said on Monday it had sanctioned a Chinese industrial machinery and equipment wholesaler, a new step in tightening the financial noose around North Korea's nuclear program after its fifth nuclear test this month. It accused the firm of acting on behalf of North Korea's Korea Kwangson Banking Corp, which has been under U.S....

  • WASHINGTON, Sept 26- The United States said on Monday it had sanctioned a Chinese industrial machinery and equipment wholesaler, a new step in tightening the financial noose around North Korea's nuclear program after its fifth nuclear test this month. It accused the firm of acting on behalf of North Korea's Korea Kwangson Banking Corporation, which has been...

  • WASHINGTON— The Justice Department on Monday unsealed criminal charges against a China- based company and four of its executives for conspiring to evade U.S. economic sanctions that target North Korea's nuclear weapons and ballistic missiles programs. Also Monday, the Treasury Department blacklisted the same firm, Dandong Hongxiang Industrial...

  • LAUNCESTON, Australia, Sept 26- It appears that China is interpreting the "people's well-being" as meaning North Korea should be able to export record amounts of coal in defiance of sanctions against the rogue nuclear-armed state. China imported 2.465 million tonnes of coal from North Korea in August, the highest on record, and 61 percent above what was bought in...

  • SEOUL, Sept 26- South Korean prosecutors asked a court on Monday to approve an arrest warrant for the chairman of the Lotte Group conglomerate on suspicion of embezzlement and breach of trust, a prosecution source with direct knowledge of the matter said. The arrest warrant request comes after Lotte Chairman Shin Dong- bin, 61, was questioned by prosecutors in an...

  • LAUNCESTON, Australia, Sept 26- It appears that China is interpreting the "people's well-being" as meaning North Korea should be able to export record amounts of coal in defiance of sanctions against the rogue nuclear-armed state. China imported 2.465 million tonnes of coal from North Korea in August, the highest on record, and 61 percent above what was bought in...

  • Kwangson Banking Corp. was ordered closed under U.N. sanctions imposed in March in response to the North's nuclear tests but kept operating in secret in the border city of Dandong, Joongang Daily reported, citing unidentified sources. China's Foreign Ministry and its bank regulator did not respond to requests for comment. Beijing has long been North Korea's...

  • *Singapore court approves discharge of cargo on seized vessel. SEOUL, Sept 23- South Korea's government said cash held by Hanjin Shipping Co Ltd and funds pledged by its parent group should meet the costs of unloading some $14 billion in cargo stranded on vessels operated by the troubled container line. The collapse of South Korea's biggest shipping operator...

  • SEOUL, Sept 23- South Korea will announce new measures to bolster the shipping industry in October, finance minister Yoo Il-ho said on Friday, urging the swift unloading of cargo trapped on Hanjin Shipping Co Ltd's ships. Around 90 percent of Hanjin's container ships are expected to finish offloading cargo by the end of October, with vessels in close vicinity of...

  • FRANKFURT, Sept 22- Samsung Electronics aims to re-launch its flagship Note7 smartphone across Europe well before year-end, but it could well be 2017 before the company fully rebounds from a global product recall tied to defective batteries, a regional executive said on Thursday. "We fully expect to be available everywhere by the end of November... well before the...

  • SEOUL, South Korea— Hanjin Shipping is to receive as much as $100 million in additional funds to resolve the cargo crisis caused by its slide toward bankruptcy. Korean Air and Hanjin Shipping are part of Hanjin Group, one of the largest business conglomerates in South Korea. The state-owned bank said its credit line will be used only when other available funds...

  • London's FTSE 100 advanced 0.5 percent to 6,866.30. On Wednesday, the CAC 40 climbed 0.8 percent, the DAX gained 0.7 percent and the FTSE rose 0.2 percent. Benchmarks in Taiwan, New Zealand and Indonesia also rose, while Singapore declined.

  • SEOUL, South Korea— Samsung Electronics on Thursday was ordered to carry out more safety checks of its Galaxy Note 7 smartphones before they go back on sale following an unprecedented global recall after defective batteries caused some of the phones to burst into flames. Under a recall plan agreed to by the Korean Agency for Technology and Standards, Samsung's...

  • *India looking to source more energy from nuclear sector. NEW DELHI, Sept 22- India is negotiating with U.S. Export-Import Bank for an $8- 9 billion loan to finance six Westinghouse Electric nuclear reactors, two sources familiar with the talks said, although a lending freeze at the trade agency threatens progress. The mega-project, the result of warming U.S.-...

  • *13 ships waiting outside Busan port as capacity strained. SEOUL, Sept 21- The largest shareholder of Hanjin Shipping Ltd agreed on Wednesday to lend 60 billion won to help unload cargo that has been stranded since the world's seventh-largest container carrier collapsed late last month. A rehabilitation plan for Hanjin is "realistically impossible" if top...

  • North Korea accidentally lets the world to access its internet

    The famously secretive state opened access to all the websites hosted on its servers late Monday.

  • SEOUL, South Korea— Samsung Electronics said Wednesday it received three reports of Galaxy Note 7 battery fires in China and investigated two of them. Two reports of Samsung phone fires emerged on Chinese social media over the weekend, rattling nerves there because China is the only country where Samsung has continued to sell the Galaxy Note 7 despite a global...