South Korea

South Korea sees no end to nuclear talks with North Korea

South Korea sees no end to nuclear talks with North Korea Seoul  - South Korea's government has not written off the six-nation talks aimed at ending North Korea's nuclear weapons programme although Pyongyang withdrew from the negotiations, South Korea's prime minister said Wednesday.

"We think that six-party talks are the only forum where the North Korean nuclear issue can be discussed and be solved," Han Seong Soo said in an interview with the German Press Agency dpa in Seoul, a day after North Korea vowed never to participate in the talks again.

Hyundai showcases Blue-Will plug-in hybrid

Hyundai showcases Blue-Will plug-in hybrid Seoul - Hyundai is showcasing its Blue-Will hybrid concept study with plug-in technology and a panoramic roof with integrated solar cells for additional power to the battery at the Seoul Motor Show. The Blue-Will has a 1.6-litre petrol engine and an additional 100 kW electric engine with a continuously variable transmission sending power to the wheels.

The lithium ion polymer battery packs are fitted with the petrol tank underneath the rear seats. They can be charged from any electric plug.

S Korea officially admits North Korea rocket followed satellite trajectory

S Korea officially admits North Korea rocket followed satellite trajectorySeoul, Apr. 14 : The South Korean government has for first time officially admitted that the rocket fired by the DPRK (Democratic People''s Republic of Korea) last week followed the trajectory of a satellite.

South Korea''s Yonhap News Agency and China's official Xinhua news agency quoted South Korean Defence Minister Lee Sang-hee as saying: "The rocket launched by the North followed the trajectory of a satellite and later separated in its final two stages before crashing into the Pacific Ocean."

Seoul welcomes Security Council statement on North Korea

Seoul welcomes Security Council statement on North Korea Seoul - South Korea on Tuesday welcomed a statement by the United Nations Security Council condemning North Korea's rocket launch earlier this month. "North Korea will have to clearly recognize that the international community issued a stern and unified stance through the Security Council's presidential statement and refrain from provocative acts undermining the peace and stability on the Korean Peninsula and North-East Asia," Foreign Ministry spokesman Moon Tae-young said.

Shares surge 4.3 per cent in Seoul

Shares surge 4.3 per cent in SeoulSeoul  - Shares jumped Thursday on the Seoul stock exchange on the central bank's decision to freeze its key interest rate for the second straight month and expectations for better corporate earnings ahead. South Korea's won rose against the dollar.

The benchmark Kospi index soared 54.28 points, or 4.3 per cent, to close at 1,316.35.

Advancing issues outnumbered decliners 780 to 109.

The main index of the technology-heavy Kosdaq market gained 20.62 points, or 4.47 per cetn, to close at 481.45.

South Korean carmaker SsangYong plans mass layoffs

South Korean carmaker SsangYong plans mass layoffs Seoul - Ailing South Korean carmaker SsangYong Motor plans to cut 2,650 jobs, about one-third of its workforce, the company said Wednesday.

The cash-strapped SUV maker, which is under creditor protection, also announced wage cuts and sales of property and other company assets. China's Shanghai Automotive Industry Corp (SAIC) holds a 51-per-cent state in the South Korean company.

The lay-offs are part of a package of survival measures which the smallest of South Korea's five carmakers had to come up with to prevent the company's dissolution.

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