|
WASHINGTON (Yonhap) -- The U.S. deficit in trade
with South Korea tripled in April, the first full month after
their free trade agreement went into effect, the Commerce Department said
Friday.
The accord, called KORUS FTA, has been in effect since March 15. Officials in the both sides say that the implementation of the FTA is going smoothly. According to the department's April trade data, the U.S. recorded a deficit of $1.8 billion, with imports totaling about $5.5 billion and exports $3.7 billion. In March, the U.S. goods deficit with South Korea stood at $0.6 billion and in April last year the deficit was $1 billion. On the trade of cars and auto parts, which has drawn keen public attention, the U.S. deficit with South Korea jumped to $1.65 billion in April from $1.45 billion the previous month. |
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Friday, June 8, 2012
US trade deficit deepens after FTA with Korea
Galaxy S3 to hit Chinese tech stores
Samsung also plans
to release the latest smartphone in
Korea, U.S. this month
Chinese consumers will be able to get hold of Samsung Electronics’ new flagship smartphone “Galaxy S3” this weekend as Korea’s biggest tech firm secured mobile carrier deals with China’s three telecom giants.
Samsung Electronics will offer TD-SCDMA 3G smartphones with China Mobile, CDMA phones with China Telecom and WCDMA with China Unicom, it said in a press release.
“We have been closely collaborating with China’s mobile carriers to release the Galaxy SIII to Chinese consumers,” said Shin Jong-kyun, president of the company’s mobile communications division, at a world tour event in Beijing on Wednesday.
Coming with various applications, the smartphones, offered in pebble blue and marble white, will simultaneously hit Chinese tech stands this Saturday.
Before its tour in China, the tech giant said on Tuesday in the U.S. that it plans to introduce the 4.8-inch phone through five carriers ― AT&T, Verizon Wireless, Sprint, T-Mobile and U.S. Cellular.
Unlike in the Chinese market, Samsung will release the new Galaxy phones “step by step” with the carriers in the U.S. this month, the company said.
The company’s recent tours followed last month’s “Mobile Unpack” event in London where Samsung began introducing the white and blue smartphones with active-matrix organic light-emitting diode displays.
It noted the features of its Galaxy S3, running on Google’s Android platform, which include eye tracking and direct calling functions. It also introduces “S-Voice,” allowing users to control and direct the mobile phones through voice communication systems such as raising the volume or asking questions.
The company released the new phones in 28 markets in Europe and the Middle East in late May, and plans to introduce them in 145 more markets by July, while Korean consumers are expected to see its 3G products next week, and LTE phones late this month.
By Park Hyong-ki (hkp@heraldm.com)
Chinese consumers will be able to get hold of Samsung Electronics’ new flagship smartphone “Galaxy S3” this weekend as Korea’s biggest tech firm secured mobile carrier deals with China’s three telecom giants.
Samsung Electronics will offer TD-SCDMA 3G smartphones with China Mobile, CDMA phones with China Telecom and WCDMA with China Unicom, it said in a press release.
“We have been closely collaborating with China’s mobile carriers to release the Galaxy SIII to Chinese consumers,” said Shin Jong-kyun, president of the company’s mobile communications division, at a world tour event in Beijing on Wednesday.
Coming with various applications, the smartphones, offered in pebble blue and marble white, will simultaneously hit Chinese tech stands this Saturday.
Before its tour in China, the tech giant said on Tuesday in the U.S. that it plans to introduce the 4.8-inch phone through five carriers ― AT&T, Verizon Wireless, Sprint, T-Mobile and U.S. Cellular.
Unlike in the Chinese market, Samsung will release the new Galaxy phones “step by step” with the carriers in the U.S. this month, the company said.
The company’s recent tours followed last month’s “Mobile Unpack” event in London where Samsung began introducing the white and blue smartphones with active-matrix organic light-emitting diode displays.
It noted the features of its Galaxy S3, running on Google’s Android platform, which include eye tracking and direct calling functions. It also introduces “S-Voice,” allowing users to control and direct the mobile phones through voice communication systems such as raising the volume or asking questions.
The company released the new phones in 28 markets in Europe and the Middle East in late May, and plans to introduce them in 145 more markets by July, while Korean consumers are expected to see its 3G products next week, and LTE phones late this month.
By Park Hyong-ki (hkp@heraldm.com)
Korea computer game giant takes on U.S. mobile market
LOS ANGELES (AFP) ―South Korea-based
WeMade Entertainment went shoulder-to-shoulder
Wednesday with titans at the E3 videogame extravaganza in Los
Angeles with games designed to bring computer-quality play to
smartphones or tablets.
The 12-year-old company behind massively-multiplayer-online-role-player-game “Legend of Mir” planned to ride into the US market on the back of the mobile gadget lifestyle.
The game has been a hit in Asia, particularly in China, and boasts more than 100 million players.
“A little more than two years ago our company had an epiphany where mobile phones and tablets would dominate the game platform of the future,” WeMade chief financial officer Gene Kim said at the E3 videogame fair in LA.
“We want to be a vanguard to blur the line between PC (personal computer) and mobile games.”
WeMade promised 20 mobile games this year, including an MMORPG called “Project Dragon: The Roar from the Dungeon,” a Viking-themed game with social networking components and a “Rhythm Scandal” title with “glitz, glam and music.”
Peeks at the budding WeMade mobile games line-up for gadgets powered by Apple or Google-backed Android software were available at facebook.com/WeSocial.
“With our aim to become the Number One global game company, we believe our mobile game line-up will bring unforeseen changes in the industry throughout the globe,” WeMade chief executive Namgung Hun said.
WeMade is wading into a fiercely competitive arena for mobile games, with videogame industry giants such as Electronic Arts battling for player’s time and money with Internet age hot shots such as Zynga and Gree.
The 12-year-old company behind massively-multiplayer-online-role-player-game “Legend of Mir” planned to ride into the US market on the back of the mobile gadget lifestyle.
The game has been a hit in Asia, particularly in China, and boasts more than 100 million players.
“A little more than two years ago our company had an epiphany where mobile phones and tablets would dominate the game platform of the future,” WeMade chief financial officer Gene Kim said at the E3 videogame fair in LA.
“We want to be a vanguard to blur the line between PC (personal computer) and mobile games.”
WeMade promised 20 mobile games this year, including an MMORPG called “Project Dragon: The Roar from the Dungeon,” a Viking-themed game with social networking components and a “Rhythm Scandal” title with “glitz, glam and music.”
Peeks at the budding WeMade mobile games line-up for gadgets powered by Apple or Google-backed Android software were available at facebook.com/WeSocial.
“With our aim to become the Number One global game company, we believe our mobile game line-up will bring unforeseen changes in the industry throughout the globe,” WeMade chief executive Namgung Hun said.
WeMade is wading into a fiercely competitive arena for mobile games, with videogame industry giants such as Electronic Arts battling for player’s time and money with Internet age hot shots such as Zynga and Gree.
Nexon buys $685 million stake in NCSoft, becomes biggest holder
Nexon Co., a Tokyo-based maker of online games, bought a 804.5 billion won ($685 million) stake in NCSoft Corp. to become the South Korean company's biggest shareholder.
Nexon purchased 3.2 million NCSoft shares, a 14.7 percent stake, from NCSoft Chairman Kim Taek-Jin for 250,000 won apiece, it said in a statement today. That's 6.7 percent less than today's closing price in Seoul for NCSoft, which offers online games including Lineage and Aion.
Nexon sees "a lot of opportunities" for acquisitions in Asia, North America, and Europe, Chief Financial Officer Owen Mahoney said last month. The Tokyo-based company is interested in investing in companies that develop games for Facebook Inc. and mobile-phone users, he said at the time.
NCSoft, based in Seoul, rose 0.4 percent to 268,000 won in trading on the city's stock exchange today before the announcement. Nexon fell 0.2 percent to 1,319 yen on the Tokyo stock exchange today.
(Bloomberg)
GNI growth slows in Q1: central bank
South Korea’s gross national income
grew at a slower pace in the first quarter due mainly to
worsening terms of trade, the central bank said
Thursday.
According to the national income statistics report by the Bank of Korea, the country’s real GNI edged up 0.2 percent from the previous three-month period, while gaining 2.5 percent from the year before.
The increase marks a slowdown from 1 percent on-quarter growth tallied in the fourth quarter and a 0.6 percent gain reported for the third quarter.
“The downshift was caused by a rise in crude oil prices and a drop in price competitiveness of exports that adversely affect terms of trade,” the BOK said.
The latest report also showed the country’s gross savings ratio dipping 1.2 percentage points from the previous quarter to 31.3 percent.
The BOK, meanwhile, said South Korea’s gross domestic product grew a modest 2.8 percent on-year in the first quarter helped by facility investment and consumption gains.
The tally also marks a 0.9 percent gain from the previous three-month period, unchanged from the advanced estimate released by the central bank on April 26.
It said GDP growth was fueled by the 1 percent increase in demand for durable goods compared to the fourth quarter and a 10.3 percent rise in facility investments for semiconductors and transportation equipment.
Exports led by autos and petrochemicals gained 4.2 percent, with imports rising 4.0 percent. These gains offset the 1.2 percent dip in money poured into the construction sector, the report said. (Yonhap News)
According to the national income statistics report by the Bank of Korea, the country’s real GNI edged up 0.2 percent from the previous three-month period, while gaining 2.5 percent from the year before.
The increase marks a slowdown from 1 percent on-quarter growth tallied in the fourth quarter and a 0.6 percent gain reported for the third quarter.
“The downshift was caused by a rise in crude oil prices and a drop in price competitiveness of exports that adversely affect terms of trade,” the BOK said.
The latest report also showed the country’s gross savings ratio dipping 1.2 percentage points from the previous quarter to 31.3 percent.
The BOK, meanwhile, said South Korea’s gross domestic product grew a modest 2.8 percent on-year in the first quarter helped by facility investment and consumption gains.
The tally also marks a 0.9 percent gain from the previous three-month period, unchanged from the advanced estimate released by the central bank on April 26.
It said GDP growth was fueled by the 1 percent increase in demand for durable goods compared to the fourth quarter and a 10.3 percent rise in facility investments for semiconductors and transportation equipment.
Exports led by autos and petrochemicals gained 4.2 percent, with imports rising 4.0 percent. These gains offset the 1.2 percent dip in money poured into the construction sector, the report said. (Yonhap News)
Ahn to declare presidential bid after July: associate
 |
| Ahn Cheol-soo |
“Ahn Cheol-soo will run in the presidential elections because he is a leader with a calling,” former Creative Korea Party chairman Moon Kook-hyun said in a television interview.
“Ahn is likely to announce his intentions some time after July.”
Moon Kook-hyun has maintained a close relationship since 1993 with Ahn, dean of Graduate School of Convergence Science and Technology at Seoul National University.
The comment comes at a time when local politicians are split over projections regarding Ahn’s decision regarding his run for presidency.
He said as it takes three to four months to become familiarized with public opinion, and because Ahn is focusing on establishing his charity foundation until mid-July, the announcement will not come in June.
Regarding a possible alliance with the Saenuri Party or the Democratic United Party, Moon said that Ahn distrusts the parties.
“Ahn is negative about joining a party or forming an alliance with one, but it does not have to do with the chances of winning the primaries, but because the two parties are very divided,” Moon said.
He added that his comments are based on what he has come to know about Ahn over the past 20 years, and that Ahn and his wife have strong interests in society and that they have a strong “love and conviction for people.”
By Choi He-suk (cheesuk@heraldm.com)
Lee Dae-ho bags MVP award for May
Korean veteran slugger Lee Dae-ho has
pumped up his Japanese performance this month, earning him the league’s MVP
award for May.
The Orix Buffaloes’ “Big Boy” Lee was named the Pacific League MVP for his offensive performance last month, making him the third Korean ever to receive the honor.
Lee topped the charts with 28 hits, a batting average of .322 and eight home runs during the month, his second month in the Japanese league.
Lee’s performance put him far ahead of Iguchi Tadahito of the Lotte Marines, who boasted a batting average of .285 with five home runs.
This is the first time a Korean player has received the award in Japanese professional baseball in six years. Lee Seung-yeop was named the Central League MVP for June in 2006.
At the time, Lee was batting .396 with 12 homers. Sun Dong-ryul was the first Korean to win the honor in May 1997.
Every month, Nippon Professional Baseball officials select a batter and a pitcher from the Central and Pacific Leagues for the monthly MVP award. The players receive a trophy and prize money.
By Robert Lee (robert@heraldm.com)
The Orix Buffaloes’ “Big Boy” Lee was named the Pacific League MVP for his offensive performance last month, making him the third Korean ever to receive the honor.
Lee topped the charts with 28 hits, a batting average of .322 and eight home runs during the month, his second month in the Japanese league.
 |
| Lee Dae-ho |
Lee’s performance put him far ahead of Iguchi Tadahito of the Lotte Marines, who boasted a batting average of .285 with five home runs.
This is the first time a Korean player has received the award in Japanese professional baseball in six years. Lee Seung-yeop was named the Central League MVP for June in 2006.
At the time, Lee was batting .396 with 12 homers. Sun Dong-ryul was the first Korean to win the honor in May 1997.
Every month, Nippon Professional Baseball officials select a batter and a pitcher from the Central and Pacific Leagues for the monthly MVP award. The players receive a trophy and prize money.
By Robert Lee (robert@heraldm.com)
Struggling Tigers lose again, 4-2 to Indians
DETROIT (AP) ― Ubaldo Jimenez had walked
more hitters than anybody in baseball this year, and it’s fair to say he’d been
a bit of a bust since coming over to Cleveland in a big trade last
season.
“He’s better than that,” manager Manny Acta said Tuesday night. “Today was a step in the right direction.”
Jimenez walked only one hitter, pitching impressively into the seventh inning, and the Indians hit three run-scoring triples off rookie Drew Smyly in a 4-2 victory over the Detroit Tigers.
Jimenez (6-4) allowed a run and five hits in 6 2-3 innings, striking out four. The right-hander entered the game with 42 walks in 56 innings this year, but he didn’t issue a base on balls until his final hitter in the seventh.
“That’s a surprise,” he said. “With an outing like this, I just want to keep it going.”
Three relievers finished for Cleveland. Chris Perez allowed a run in the ninth but held on for his 18th save in 19 chances.
Asdrubal Cabrera, Lou Marson and Michael Brantley each hit RBI triples for Cleveland, which became the third team this season to hit three triples in a game.
Smyly (2-2) allowed four runs and six hits in six innings.
Jimenez threw only 55 strikes in 102 pitches, but Detroit didn’t make him pay when he did miss the mark.
“I thought Jimenez was effectively wild,” Tigers manager Jim Leyland said. “We had some really golden counts for hitters. Just didn’t do much with them.”
The Indians made two sparkling defensive plays with Detroit trying to rally in the ninth. After a leadoff single by Delmon Young, Cabrera, the shortstop, barehanded Gerald Laird’s chopper and threw to second for a forceout.
Jhonny Peralta followed with a double and Brennan Boesch hit a sacrifice fly, but Choo Shin-soo made a sliding catch in right field on Ramon Santiago’s shallow fly to end it.
The Indians won for only the fourth time in their last 27 games at Comerica Park.
Jimenez allowed seven runs in four innings May 27 against the White Sox in Chicago. Jimenez was bothered by cramping in his left side, so the Indians gave him a bit more rest and didn’t start him again until Tuesday.
“I just think that it gave him time to rest his left side,” Acta said. “You don’t want to push him and make it worse.”
Cleveland’s Carlos Santana returned to the lineup after being on the 7-day disabled list because of a concussion. He went 0 for 4 as the designated hitter.
The Indians had lost seven of nine since sweeping three straight from the Tigers in Cleveland last month.
Jimenez hit the first batter he faced and allowed an RBI double to Miguel Cabrera in the first inning.
Detroit did little offensively after that. Matt Young, a 29-year-old outfielder just up from the minors, struck out four times. The home crowd gave him a sarcastic cheer when he fouled off a two-strike pitch in the eighth, but he struck out swinging at the next one.
Smyly struck out the first four hitters he faced, but Cabrera’s triple in the third tied the game and Marson’s triple in the fifth gave the Indians the lead. Choo drove Marson home with a single to make it 3-1.
Rangers 6, Athletics 3
Angels 6, Mariners 1
D-backs 10, Rockies 1
Padres 6, Giants 5
Nationals 7, Mets 6
Yankees 7, Rays 0
Dodgers 2, Phillies 1
Orioles 8, Red Sox 6
Pirates 8, Reds 4
Blue Jays 9, White Sox 5
Braves 11 Marlins 0
Royals 1, Twins 0
Astros 9, Cardinals 8
Cubs 10, Brewers 0
“He’s better than that,” manager Manny Acta said Tuesday night. “Today was a step in the right direction.”
Jimenez walked only one hitter, pitching impressively into the seventh inning, and the Indians hit three run-scoring triples off rookie Drew Smyly in a 4-2 victory over the Detroit Tigers.
Jimenez (6-4) allowed a run and five hits in 6 2-3 innings, striking out four. The right-hander entered the game with 42 walks in 56 innings this year, but he didn’t issue a base on balls until his final hitter in the seventh.
“That’s a surprise,” he said. “With an outing like this, I just want to keep it going.”
 |
| Cleveland Indians’ Choo Shin-soo hits a single against the Detroit Tigers on Tuesday. (AP-Yonhap News) |
Three relievers finished for Cleveland. Chris Perez allowed a run in the ninth but held on for his 18th save in 19 chances.
Asdrubal Cabrera, Lou Marson and Michael Brantley each hit RBI triples for Cleveland, which became the third team this season to hit three triples in a game.
Smyly (2-2) allowed four runs and six hits in six innings.
Jimenez threw only 55 strikes in 102 pitches, but Detroit didn’t make him pay when he did miss the mark.
“I thought Jimenez was effectively wild,” Tigers manager Jim Leyland said. “We had some really golden counts for hitters. Just didn’t do much with them.”
The Indians made two sparkling defensive plays with Detroit trying to rally in the ninth. After a leadoff single by Delmon Young, Cabrera, the shortstop, barehanded Gerald Laird’s chopper and threw to second for a forceout.
Jhonny Peralta followed with a double and Brennan Boesch hit a sacrifice fly, but Choo Shin-soo made a sliding catch in right field on Ramon Santiago’s shallow fly to end it.
The Indians won for only the fourth time in their last 27 games at Comerica Park.
Jimenez allowed seven runs in four innings May 27 against the White Sox in Chicago. Jimenez was bothered by cramping in his left side, so the Indians gave him a bit more rest and didn’t start him again until Tuesday.
“I just think that it gave him time to rest his left side,” Acta said. “You don’t want to push him and make it worse.”
Cleveland’s Carlos Santana returned to the lineup after being on the 7-day disabled list because of a concussion. He went 0 for 4 as the designated hitter.
The Indians had lost seven of nine since sweeping three straight from the Tigers in Cleveland last month.
Jimenez hit the first batter he faced and allowed an RBI double to Miguel Cabrera in the first inning.
Detroit did little offensively after that. Matt Young, a 29-year-old outfielder just up from the minors, struck out four times. The home crowd gave him a sarcastic cheer when he fouled off a two-strike pitch in the eighth, but he struck out swinging at the next one.
Smyly struck out the first four hitters he faced, but Cabrera’s triple in the third tied the game and Marson’s triple in the fifth gave the Indians the lead. Choo drove Marson home with a single to make it 3-1.
Rangers 6, Athletics 3
Angels 6, Mariners 1
D-backs 10, Rockies 1
Padres 6, Giants 5
Nationals 7, Mets 6
Yankees 7, Rays 0
Dodgers 2, Phillies 1
Orioles 8, Red Sox 6
Pirates 8, Reds 4
Blue Jays 9, White Sox 5
Braves 11 Marlins 0
Royals 1, Twins 0
Astros 9, Cardinals 8
Cubs 10, Brewers 0
Korea trounces Qatar, sets tone for WC qualifier
 |
| Lee Keun-ho scored the first two goals at 26 minutes and 80 minutes. (Yonhap News) |
Korea went into the final round of the 2014 World Cup qualifiers after trouncing Qatar 4-1 at the Al Sadd Stadium in Doha on Saturday.
The game took off with a bad start for the Korean team as Qatar dominated the pitch in the beginning of the half.
It was Yousef Ahmad that rocketed past two defenders to sink in a goal at a difficult angle.
However Korea promptly responded and took the pitch from there after Kim Bo-kyung tossed up a cross from that met Lee Keun-ho’s head before Qatar goalkeeper Qasem Burhan. It was that header that was a omen for Qatar of what was to come.
Kwak Tae-hwi started the second half with another header off a corner kick which asserted Korea’s lead over Qatar.
Kim Shin-wook took his captains lead and sunk in a comfortable ground shot just outside of the box. Just before the match ended Lee greeted the ball once more, for a coup de grace header into the net.
National team coach Choi Kang-hee and his men look will on their way to the 2014 World Cup for the eighth time in a row.
The team which largely dominates the rest in the group—Iran, Lebanon, Uzbekistan and Qatar—in FIFA rankings is largely the favorite and showed people why on Saturday.
Korea will now head home to face off Lebanon on Tuesday, while Qatar will head to Iran to face the group’s second favorite.
By Robert lee
(robert@heraldm.com)
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