SEOUL, May 12- South Korean prosecutors raided Korea National Oil Corp and the local office of Bank of America Merrill Lynch on Tuesday in a probe over the state oil firm's 2009 acquisition of a Canadian refiner, two people familiar with the matter said. Bank of America Merrill Lynch advised KNOC on its acquisition of Harvest Operations Corp..
South Korea's President-elect, Park Geun-hye, used her first major speech on Thursday to warn of the risks posed by a hostile North Korea and also fired a political shot across the bows of Japan's incoming Prime Minister Shinzo Abe.
The framework for a Free Trade Agreement (FTA) between South Korea and China may be ready in two years, said the South Korean President.
South Korea’s President Lee Myung-bak says Greece needs to accept the terms of a $130 billion international bailout agreed in March and there will be no disbursement of money from the International Monetary Fund (IMF), unless the country does so.