Seoul

South Korea unveils 11-billion-dollar stimulus package

Seoul - South Korea on Monday announced a 14-trillion-won (11-billion-dollar) stimulus package as it faces its worst economic turmoil since it needed an International Monetary Fund bailout a decade ago.

Public spending is to rise next year by 11 trillion won and the package's remaining 3 trillion won would go to tax benefits, the Finance Ministry said.

Finance Minister Kang Man Soo estimated South Korea's economy would grow only 3 per cent next year because of the global financial crisis but also warned of a further slowdown.

"It will be difficult to achieve the growth if global economic conditions further worsen," he said.

Photos of Kim appear in North Korean media amid stroke speculation

Seoul  - North Korea's state-controlled media on Sunday released photos of national leader Kim Jong Il appearing in public at a football match as speculation persists about his health.

The 66-year-old watched a match between two army teams accompanied by high-ranking officials of the ruling communist Korean Workers' Party and military representatives and congratulated the players after the game, said the Korean Central News Agency, which also published a photo of North Korea's leader.

Korean Central TV aired 14 photographs of Kim at the game, South Korea's Yonhap news agency reported.

The date and location of the match was not released.

Shares gain 2.6 per cent in Seoul

Shares gain 2.6 per cent in SeoulSeoul - Shares continued their rebound Friday on the Seoul stock exchange, tracking overnight gains in the US market, after suffering heavy losses earlier this week.

However, South Korea's currency, the won, fell again, after it posted its largest gain versus the dollar in a decade Thursday on a currency swap deal between the country's central bank and the US Federal Reserve.

The benchmark Kospi index soared 28.34 points, or 2.6 per cent, to close at 1,113.06.

Advancing issues outpaced decliners 643 to 218.

Shares soar by a record 12 per cent in Seoul on currency swap deal

Seoul - Shares surged by a record 12 per cent Thursday on the Seoul stock exchange as a currency swap with the US worth 30 billion dollars and a decreased currency account deficit in South Korea in September boosted investor sentiment.

The local currency spiked 16.5 per cent against the greenback, buoyed by the swap deal and the bullish stock market.

The benchmark Kospi index jumped 115.75 points, or 12 per cent, to close at 1,084.72, its largest ever one-day gain. The index fell more than 20 per cent last week, the biggest loss in two decades.

Advancing issues outpaced decliners 841 to 53.

Chip maker Hynix posts heavy third quarter losses

Hynix Semiconductor IncSeoul - South Korea's Hynix Semiconductor Inc, the world's second largest maker of computer chips, Thursday posted net losses of 1.67 trillion won (1.3 billion dollars) for the third quarter owing to price slumps and write-offs.

After profits of 168 billion won in the third quarter of 2007, the company reported losses for the fourth consecutive quarter, more than doubling the losses posted for the previous quarter of 711 billion won.

Hyundai Genesis Coupe launched in South Korea and United States

Hyundai Genesis Coupe launched in South Korea and United States Seoul - Hyundai is launching its new Genesis Coupe on the South Korean and U. S. markets based on the sedan with a range-topping 223 kW/303 hp V6 engine and other sport credentials.

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