South Korea

South Korea's Economic Growth Slows More than Expected in Fourth-Quarter

South Korea's Economic Growth Slows More than Expected in Fourth-Quarter

For 2009's fourth-quarter, economic growth across South Korea slowed much more than expected, increasing pressure on the central bank to defer its plans of raising the benchmark interest rate.

For the three months up-to December 31, 2009, the country's gross domestic production hiked by 0.2%, a very slight rise which has come after a surge of 3.2% that was recorded for the previous quarter. Analysts had estimated that there would be a growth of a minimum of 0.5%.

South Korean Won's Exchange Rate Hits 16-Month High

South Korean Won's Exchange Rate Hits 16-Month HighRecently, as confirmed by the official figures shared, the South Korean Won managed to rapidly rise and hit a 16-month high, going beyond all the key resistance levels as traders heavily cashed in on a weakened dollar, which hurt the central bank's attempts to cap the gains via speculated interventions.

First Coal-Export System Ship to Undertake Maiden Voyage Today

First Coal-Export System Ship to Undertake Maiden Voyage Today

The first ever ship to operate under a new agreement to expand the exports of coal at Newcastle in New South Wales, which is already the world's largest harbor for supplying the fuel, is all set to undertake its main voyage today. It will leave the terminal for South Korea.

Coal companies from across Hunter Valley have entered into a 10 year long exports contract, which is valued at over $4 Billion, and will underpin the production expansion, as has been confirmed by, NSW Ports Minister Paul McLeay.

iRiver Introduces Story to Markets Across UK

iRiver has now launched its Story e-book reader in markets across UK. Touted as a "stepping up to challenge Sony's version and Amazon's new Kindle", the reader has been manufactured by the South Korean firm famous for its MPs players, and is much more than just an electronic reader, packed with other features such as a dairy, scheduler and in-built speakers.

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