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Samsung launches Tizen-powered TVs in home market

Samsung launches Tizen-powered TVs in home market

Seoul: South Korean electronics giant Samsung Electronics Co has started domestic sales of high-end televisions powered by its Tizen operating system and plans to add washing machines, fridges and other appliances to the range of products that use the software.

Samsung said sales of Tizen-powered ultra-HD TVs began today in South Korea. The new TVs come in four sizes from 55 inches diagonally to 88 inches. The smallest model costs 5.49 million won.

The company's smartphones and tablets rely on Google's Android operating system despite its efforts to develop Tizen as an alternative.

Currently Samsung is focusing on pushing the Tizen OS into living rooms and eventually into kitchens and other corners of the home.

South Korea ferry disaster: Toll rises to 187

South Korea ferry disaster: Toll rises to 187Seoul, April 26 - The death toll in the South Korea ferry sinking disaster rose to 187 Saturday morning, but search operations slowed amid faster tidal currents and worse weather conditions.

Only two more bodies were recovered from the sunken vessel overnight, raising the death toll to 187. A total of 115 people are still missing, with the number of those rescued remaining unchanged at 174 since the first day of the sinking disaster, Xinhua reported.

North Korea will deepen its isolation with another n-test: Obama

Barack-ObamaSeoul, April 25 : US President Barack Obama Friday warned North Korea that it will only manage to "deepen its isolation" if it conducts another nuclear test.

This statement by Obama comes after intelligence data gave rise to fears of another nuclear test by the communist regime.

"Pyongyang will gain absolutely nothing from another nuclear test except to deepen its own isolation from the global community," Obama said in a written interview to the South Korean newspaper Joongang before his arrival in Seoul Friday.

South Korea to open gold trading market

South Korea to open gold trading marketSeoul, March 23 - South Korea's financial regulator said Sunday that market will start trading gold on spot next week to disclose gold transactions, which were blamed for tax evasion and illegal trading.

The South Korean government unveiled a plan July 2013 to let gold be traded in an open arena as part of efforts to bring the underground economy to the open and help prevent tax evasion and illegal transactions, reported Xinhua.

South Korea posts trade surplus

South Korea posts trade surplusSeoul, Mar 1 - South Korea posted a trade surplus for 25 straight months as exports managed to grow, though at a slow pace, a government report showed Saturday.

Trade surplus reached $926 million in February, up from $760 million surplus in the previous month, according to the ministry of trade, industry and energy.

Exports increased 1.6 percent from a year earlier to $42.99 billion in February after falling 0.2 percent in the previous month. Imports grew 4 percent to $42.06 billion last month after declining 1 percent in January, reported Xinhua. (IANS)

Samsung loses patent lawsuit in South Korea against Apple

Samsung loses patent lawsuit in South Korea against AppleSeoul, Dec 12 - Samsung Electronics, the world's top smartphone maker, lost a patent lawsuit in South Korea against its archrival Apple after a Seoul court ruled that the iPhone maker did not violate Samsung's patents.

The Seoul Central District Court ruled Thursday that among three patents Samsung claimed Apple infringed on, two patents cannot be accepted as Samsung's unique, leading-edge technology and the other cannot be viewed as the same technology between Samsung and Apple, reported Xinhua.

Samsung to appeal against US jury's order

Samsung to appeal against US jury's orderSeoul, Nov 22 : Samsung Electronics, the world's largest smartphone maker, said Friday that it is planning to appeal against a US jury's order to pay Apple $290 million in damages.

Samsung said in a statement that it would move forward with its post-trial motions and appeals, reports Xinhua.

The statement came after the US jury issued a verdict Thursday which orders Samsung to pay the US-based company $290 million in damages for copying key features of its iPhone and iPad devices.

Samsung becomes world's top handset seller

Samsung becomes world's top handset sellerSeoul, Nov 13 - Samsung Electronics became the world 's No. 1 handset seller across all continents in the third quarter, winning the title for the first time in the company's history, a US-based market researcher said Wednesday.

Samsung ranked first in terms of global handset sales in the third quarter in all six continents, including North America, Western Europe, Asia Pacific, Latin America and Eastern Europe as well as Middle East and Africa, where Samsung beat Nokia for the first time, Xinhua cited from a report by Strategic Analytics.

South Korea forex hits new high

Seoul, Oct 4 - South Korea's foreign reserves hit another record high in September due to the depreciation of the US dollar, central bank data showed Friday.

The reserves reached $336.92 billion, up by $5.83 billion compared to August, according to the Bank of Korea, reports Xinhua.

The reserves recorded the highest monthly gain since October 2011 when the figure increased by $7.59 billion.

Sales of foreign currency stabilization bonds by the South Korean government also contributed to the growth in the foreign reserves.

South Korea's revised GDP remains intact

South-KoreaSeoul, Sep 5 : The revised figure of South Korea's GDP for the April-June second quarter was unchanged at 1.1 percent on an on-quarter basis, central bank data showed Thursday.

Real GDP, the broadest measure of economic performance, expanded 1.1 percent in the second quarter from three months earlier, unchanged from a preliminary estimate unveiled around a month earlier, Xinhua reported citing Bank of Korea data.

The reading was up from a 0.8 percent growth in the first quarter, marking the highest since a 1.3 percent expansion tallied in the first quarter of
2011.

South Korea's industrial output grows

industrail-outputSeoul, Aug 30 : South Korea's industrial output grew last month due to a solid production increase in the construction sector, offsetting declines in the manufacturing and service industries, a government report showed Friday.

Production in all industries, including manufacturing, service, construction and public administration, rose 0.3 percent in July from a month earlier, Xinhua reported citing Statistics Korea.

It was the first growth in three months.

South Korea's terms of trade improve

south-korean-currencySeoul, Aug 23 : South Korea's terms of trade improved last month as import costs fell at a steeper pace than export prices amid lower commodity prices, central bank data showed Friday.

The net terms-of-trade index for goods, rose 1.5 percent in July from a year earlier, according to the Bank of Korea. The index is calculated by dividing export prices by import prices.

The index continued to rise amid faster fall in import prices than export prices. The import price index declined two percent, and the export price index slid 0.5 percent, Xinhua reported.

Retail sales in South Korea fall

Retail-salesSeoul, Aug 22 : Retail sales in South Korea fell last month as the prolonged rainy season has weakened domestic demands, a government report showed Thursday.

Total sales at three major discounted outlets - E-Mart, Lotte Mart and Homeplus - was down by 4.9 percent in July from a year earlier, Xinhua reported citing the country's ministry of trade, industry and energy.

Combined sales at department stores of three brands declined 2.1 percent last month.

The long streak of rainy days and mandatory reduction in the operating days discourage consumers from purchasing goods at retail stores, according to the report.(IANS)

South Korea's money supply grows

south-korean-money-supplySeoul, Aug 7 : South Korea's money supply grew at a faster pace as fiscal expenditure rose following the extra budget plan implemented, central bank data showed Wednesday.

The country's broad money (M2), rose 0.6 percent from a month earlier to a seasonally-adjusted $1.69 billion in June after gaining 0.1 percent in the prior month, reported Xinhua citing Bank of Korea.

The faster growth came after the government began conducting its supplementary budget worth $15 billion.

South Korea to finalise jet deal

Lockheed-Martin-F-35Seoul, Aug 5 : South Korea's arms procurement agency plans to receive a final bid next week for a $7.4 billion deal to buy 60 fighter jets, the largest arms import contract in the nation's history, an official said Monday.

"The final bidding will be held between Aug 13 and 16, except for the Aug 15 Liberation Day holiday," an official at the Defense Acquisition Program Administration's spokesman office said.

South Korea's foreign reserves hit new high

South-Korean-foreign-reservesSeoul, Aug 5 : South Korea's foreign reserves hit a record high last month due to an increase in the conversion value of non-dollar assets and a continued rise in investment returns, central bank data showed Monday.

Foreign reserves gained $3.27 billion from a month earlier to $329.71 billion as of the end of July, topping the previous record high of $328.91 billion in January, according to the Bank of Korea (BOK), Xinhua reported.

South Korean president visits Indian book pavilion

Park-Geun-hyeSeoul, June 19 : South Korean President Park Geun-hye Wednesday toured the Indian pavilion at an international book fair here in which India is participating as the guest of honour for the first time.

She toured the Indian pavilion at the Seoul International Book Fair, spending close to 10 minutes there, said an embassy press release.

It was followed by a brief interaction when Minister of State for Human Resource Development Jitin Prasada, who is heading the Indian delegation, conveyed greetings of Indian Prime Minister Manmohan Singh and thanked the South Korean president for gracing the Indian pavilion.

South Korea's producer prices fall

Farm-GoodsSeoul, June 18 : Producer prices in South Korea fell for three straight months due to lower prices of farm goods and crude oil, central bank data showed Tuesday.

The producer price index (PPI), a barometer of future consumer price inflation, declined 0.4 percent in May from a month earlier, keeping its downward trend for the third consecutive month, according to the Bank of Korea (BOK).

The continued decline came amid lower prices for agricultural products and global crude oil. Dubai crude, South Korea's benchmark, averaged $100.34 a barrel in May, down 1.3 percent from the prior month, reported Xinhua.

South Korea's GDP growth revised down

South-Korea-GDPSeoul, June 7 : South Korea's gross domestic product (GDP) growth for the first quarter was revised down to 0.8 percent amid the still fragile consumer spending, central bank data showed Friday.

Real GDP, the broadest measure of economic performance, rose 0.8 percent in the first quarter from three months earlier, down from a preliminary estimate of a 0.9 percent growth unveiled around a month ago, according to the Bank of Korea (BOK).

The figure was downgraded from an earlier forecast, but it was up from a 0.3 percent increase in the prior quarter, marking the highest growth in four quarters, reported Xinhua.

South Korea's foreign reserves fall

South-Korea-foreign-reservesSeoul, June 5 : South Korea's foreign reserves fell last month as the US dollar appreciates, which was caused by expectations for the early end of quantitative easing reduced the conversion value of non-dollar assets, central bank data showed Wednesday.

Foreign reserves were $328.1 billion as of the end of May, down from $328.8 billion in the prior month, according to the Bank of Korea (BOK).

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