Seoul - 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.

Seoul - Creditors of ailing Daewoo Electronics have chosen US equity firm Ripplewood Holdings as their preferred bidder after two failed attempts to sell South Korea's third-largest appliance and television maker, a South Korean bank said Wednesday.

Leading creditor Woori Bank said in Seoul that the takeover of Daewoo Electronics should be formalized by the end of this year.

New York-based Ripplewood will be granted access to Daewoo's books before the deal was signed, Woori Bank said, but declined to give details regarding the US company's offer.

Ripplewood was entering negotations with an offer of about 400 billon won, the national Yonhap news agency said, quoting industry sources.

Seoul - Shares closed more than 3 per cent lower Wednesday on the Seoul stock exchange on rumors that South Korea may apply for bail-out funds by the International Monetary Fund (IMF). The South Korean authorities denied the market rumors.

The benchmark Kospi index plunged 30.19 points, or 3.02 per cent, to close at 968.97, giving up earlier gains.

Declining issues outnumbered advancers 526 to 320.

The main index of the technology-heavy Kosdaq market declined 6.84 points to 265.59.

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.

Seoul  - North Korea's military on Tuesday threatened the destruction of its southern neighbour, accusing South Korea of planning a military strike against the Pyongyang regime, a news report said.

At the slightest sign of an attempt by Seoul to preemptively strike the communist state, North Korea would attack with "means more powerful than a nuclear strike," the South Korean Yonhap news agency said, quoting a report in its northern counterpart, the Korean Central News Agency.

"The puppet authorities had better bear in mind that the advanced preemptive strike of our own style will reduce everything ... to debris, not just setting them on fire," a spokesman of North Korea's army was quoted as saying.

Seoul  - Shares jumped more than 5 per cent Tuesday on the Seoul stock exchange on bargain hunting after recent huge losses. South Korea's currency lost further ground against the dollar.