ARIRANG NEWS 16:00 Title: Crude oil prices fall to fresh lows America′s benchmark West Texas crude dipped below the 50 dollar per barrel mark during Monday′s trading. And this is sending shockwaves across markets around the world. For our top story, here′s Kim Min-ji. New year,... same situation. Global crude prices plummeted to their lowest levels since the spring of 2009 on Monday,... as concerns of oversupplies deepen. U.S. benchmark West Texas Intermediate fell five percent to finish as just over 50 dollars per barrel on the New York Mercantile Exchange. It even dipped BELOW the symbolic threshold of 50 dollars at one point a level unseen since April 2009. Benchmark Brent crude also shed about six percent to around 53 dollars a barrel. The latest dip in oil prices also sent shock waves to global stock markets. The Dow Jones industrial average fell more than 330 points, or 1-point-9 percent,... as investors broadly sold off energy stocks. The S&P; 500 shed 1-point-8 percent. Crude prices have been on a downward spiral since June, losing more than half their value. Investors fear that the global supply glut coupled with weak demand could push prices down further. OPEC countries have only shown a stronger resolve to raise production,... in a fight to protect their global market share against shale production in the U.S. Recent data also shows that Russian oil outputs have hit post-Soviet records,... while Iraqi exports are at their highest since the 1980s. Kim Min-ji, Arirang News. Title: Korea to negotiate with countries objecting to high tariff on rice Five nations have raised objections at the World Trade Organization... about Korea′s increased tariffs on imported rice. The U.S., China, Australia, Thailand and Vietnam have taken issue with the steps taken by Korea to open up its rice market in recent months. After a 20-year grace period,... Korea made the shift starting this year, setting a tariff of 5-hundred-13 percent on rice imports that exceed the annual quota, which currently stands at just over 400-thousand tons. Responding to the criticism,... Korea′s ambassador to the W-T-O, Choi Seok-young said... the Korean government would negotiate with each of the five countries to keep the tariff rate where it is, since it′s designed to protect the domestic rice industry. Title: Samsung Electronics ranks 2nd in global R&D; investment Samsung Electronics has ranked second in the world in terms of R&D; spending for two consecutive years. The Korea Institute of Science and Technology Evaluation and Planning,.. citing figures filed by the European Commission, says... Samsung poured 12 billion U.S. dollars into research and development in 2013. German automaker Volkswagen topped the list at 14 billion dollars. Microsoft and Intel came in at 3rd and 4th, respectively. Three Korean firms ranked in the top 100. LG Electronics was 49th on the list,... while Hyundai Motor scraped in at 99th. Title: Hyundai to invest US$7

• published: 06 Jan 2015
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