Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Woman gets suspended term for injuring boyfriend with knife
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Samsung chief bolsters ties with Germany’s Zeiss
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Med schools expect 1,500+ new admission slots next year
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KT launches new mobile plans for foreign residents
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[Weekender] Multigrains imports sharply increase
As Koreans have become more health-conscious over the past few years, the popularity of superfoods, particularly internationally renowned multigrains like quinoa, has increased across the country. According to Lotte Mart, sales of imported grains in the first half of 2014 increased by 330 percent compared to the same period a year ago. Here are some of Korea’s favorite grains.QuinoaQuinoa hails from the Andes, and is referred to as “the grain of the gods.” According to Japan’s Ministry of Educat
IndustryJan. 30, 2015
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[Weekender] Korean foods gain recognition abroad
While Koreans are increasingly consuming imported superfoods, there are also some Korean foods that are recognized overseas for their nutritional benefits. Here are some homegrown foods that have been mentioned in foreign publications over the past few years for their health benefits. SeaweedIn a story covering Wando Seaweed Festival, held in Korea last September, the Wall Street Journal highlighted seaweed soup, traditionally eaten by mothers after giving birth in Korea, as it contains iodine,
IndustryJan. 30, 2015
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[Weekender] Juicing for health
Juicing has become popular across the country. Many Koreans put drinking a glass of fresh fruit or veggie juice a day on their list of New Year’s resolutions, and most coffee chains have begun selling fresh juices. A fresh juice bar run by Organica at a branch of high-end supermarket chain Super Star in southern Seoul. (Organica)Behind the boom is the craze for cleansing the body of toxins with juice ― the so-called “juice cleanse.’’Drinking “detox’’ juice has become a daily routine for many Ko
IndustryJan. 30, 2015
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[Weekender] Korea’s latest well-being movement
For Lee Kyung-ja, a 63-year-old housewife who has lived in Latin America for more than 40 years, the biggest concern ahead of her planned return to Korea was food.Having lived in Bolivia, the home of a slew of so-called superfoods like quinoa and lentils, she had no idea how to maintain her decade-old eating habits. But her concerns vanished during a recent visit to Seoul. “I was pleasantly surprised that almost all food items from Latin America are available at local supermarkets. There were ev
IndustryJan. 30, 2015
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Samsung to buy back jet planes from Hanwha
Samsung Electronics’ Boeing business jet, the B737-700Samsung Group, which sold four business units to Hanwha Group in November, is considering buying back the jet planes and helicopters that are used by its owner family.Samsung said Friday that it hopes to acquire three planes and six helicopters, with a 5 percent stake owned by Samsung Techwin ― an aerospace parts producer that was sold to Hanwha as part of the 1.9 trillion won ($1.7 billion) package deal.Samsung Techwin has operated a team th
TechnologyJan. 30, 2015
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Hyundai fast-tracks relocation plan
Hyundai Motor Group plans to relocate some of its subsidiaries to the former KEPCO headquarters in southern Seoul. (Yonhap)Hyundai Motor Group said Friday it would speed up its planned relocation to Samseong-dong, southern Seoul, to help the local economy ahead of its complete ownership of the site formerly owned by Korea Electric Power Corp.In September, the Korean auto giant purchased the 80,000-square-meter site for 10.5 trillion won ($10 billion) from the state-run power agency in a bid to c
IndustryJan. 30, 2015
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S-Oil’s Q4 net tumbles on plunging oil prices
S-Oil, South Korea’s third-largest refiner, said Friday it logged a bigger net loss in the fourth quarter on-year as a steep fall in oil prices hurt the value of its crude stockpile.The net loss came to 248.64 billion won ($226.16 million) in the October-December period, further widening from the 27.5 billion won loss a year ago, S-Oil said in a regulatory filing. Sales were down 22.1 percent to 6.2 trillion won in the period, with the company recording an operating loss of 213.2 billion won. Th
Jan. 30, 2015
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BOK sees both upside, downside risks in inflation
South Korea’s consumer prices face both upside and downside risks this year ― sliding oil prices and volatile agricultural prices ― the country’s central bank said Friday.Additional falls in oil prices and a prolonged slump in domestic demand are expected to drag down the inflation rate in Asia’s fourth-largest economy this year, while uncertainties over agricultural prices pose upside risks, according to a semiannual report by the Bank of Korea.The report comes after the central bank slashed it
Jan. 30, 2015
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Korean Air chairman Cho testifies in ‘nut rage’ trial
Korean Air chairman Cho Yang-ho answers questions from reporters before stepping into a court in Seoul on Friday. (Yonhap)Korean Air chairman Cho Yang-ho testified as a witness in a Seoul trial on Friday over his daughter’s alleged breach of aviation safety regulations.The Seoul Western District Court questioned the 65-year-old chairman on whether the senior steward Park Chang-jin, who was allegedly assaulted by Cho’s daughter and forced off the Seoul-bound Korean Air flight in New York last mon
IndustryJan. 30, 2015
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Japan's Orix picked as preferred bidder for Hyundai Group's brokerage arm
Japan's Orix Corp. has been picked as the preferred bidder for a controlling stake in Hyundai Securities Co., the fourth-largest brokerage firm by market cap, financial sources said Friday.Earlier this week, Orix Corp. and South Korean private equity firm Pinestreet had submitted their bids for a 36 percent stake in Hyundai Securities.The Korea Development Bank, the lead manager for the deal, will allow Orix to conduct due diligence on the brokerage for one month and complete the deal before Jun
Jan. 30, 2015
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[Herald Interview] Profitable investment requires institutional insight: SC official
Pursuing profits in volatile markets will inevitably lead to risks.The role of financial companies, including asset management firms and banks, is to provide an institutional way of thinking and guidance to their clients, according to a top executive of Standard Chartered Bank Korea.“People, even experts, may have their (own) personal views concerning economic situations and prospects,” Rajesh Kannan, regional head of SC’s wealth management department in Korea, told The Korea Herald.Rajesh Kanna
Jan. 30, 2015
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S. Korea's energy import volume inches up in 2014
South Korea's energy imports measured in volume edged up in 2014 from a year earlier, mainly due to more demand from the industrial sector, customs data showed Friday.According to the data from the Korea Customs Service (KCS), South Korea brought in 298.53 million tons of crude oil, coal and natural gas in the 12-month period, up from 295.95 million tons reported for 2013. It said, in particular, the fourth quarter saw energy imports jumping to 75.74 million tons, the highest amount tallied for
Jan. 30, 2015
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S. Korea's industrial output advances in Dec.
South Korea's industrial output advanced in December from a month earlier, helped by demand for automobiles and semiconductors, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries moved up 3 percent last month from a month earlier. Compared with a year earlier, it inched up 0.4 percent.The increase marks the highest on-month growth since the 3.7 percent gain in September 2009 and the second month i
IndustryJan. 30, 2015
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Card spending in South Korea accelerates in 2014
South Korea's card spending accelerated last year largely thanks to an economic recovery and the growing number of purchases with plastic, data showed on Friday.Purchases made with credit cards totaled 578.6 trillion won ($527 billion) last year, up 6.1 percent from the 545 trillion won a year earlier, according to the Credit Finance Association. Last year's gain is higher than the 4.7-percent on-year expansion the previous year, the association said.The data include the use of credit, debit and
Jan. 30, 2015
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Superstition holds big sway over S. Korean economy
At a glance, superstition doesn't seem to be a key swing factor for economic activities, but if tens of thousands of couples reschedule their weddings due to an ancient belief, as indicated by data released Friday, then it must be.The South Korean economy expanded 0.4 percent in the fourth quarter, growing at the slowest pace in more than two years, according to the latest estimate by the Bank of Korea (BOK). It also marked a sharp slowdown from 0.9 percent growth in the third quarter.The centra
Jan. 30, 2015
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KT suffers widened loss in 2014 on increased costs
South Korea's No. 2 telecom giant KT Corp. said Friday its loss widened last year from a year earlier due mainly to its one-off cost in compensating voluntary retirees.Net loss reached 966 billion won (US$883 million) last year, sharply increasing from the loss of 60.2 billion won a year earlier, the company said in a regulatory filing.Sales also dipped 1.6 percent on-year to reach 23.4 trillion won last year. KT also suffered an operating loss of 291.8 billion won last year, shifting from 839.3
IndustryJan. 30, 2015
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Manufacturers' sentiment worsens to 18-month low for Feb.
South Korean manufacturers' sentiment for business conditions weakened to the lowest level in 18 months amid lingering uncertainties, a poll showed Friday.The business sentiment index, which measures the outlook of manufacturers on their business conditions for the coming month, came in at 73 for February compared with 77 in the previous month, according to the Bank of Korea. It is the lowest reading since August 2013.In terms of seasonally adjusted figures, the monthly index also slumped to 74
Jan. 30, 2015
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Samsung posts robust chip growth
Strong sales of Apple’s iPhone 6 and Xiaomi’s low-end smartphones pushed Samsung Electronics, the world’s largest smartphone maker by sales volume, to record its weakest annual earnings in three years.The Korean tech giant said Thursday it posted an annual revenue of 206.2 trillion won with its operating profit standing at 25 trillion won, down by 10 percent and 11.8 percent respectively, from a year earlier. The sluggish sales of Samsung’s flagship smartphone, the Galaxy S5 which was released l
TechnologyJan. 29, 2015
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[Graphic News] Coffee imports hit all-time high
Imports of coffee hit an all-time high last year despite the nation’s economic slowdown.In 2014, Korea imported 139,764 tons of coffee beans and powder-based materials, a 14 percent increase from 2013. The total value of imports was $595 million.The import rate staggered a bit after the price of coffee beans rose in 2011, but has increased again since 2012.The increase is due to the ever-growing demand for coffee in Korea with an increase in coffee shops, as well as a drop in coffee prices after
Jan. 29, 2015
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Hyundai to enter duty-free bidding
Hyundai Department Store announced Thursday that it would join the bid for a license to open a city duty-free store in Seoul, adding fuel to the fierce competition in the 3.2 trillion won ($2.9 billion) market. In its first attempt to join the bid, company chairman Chung Ji-sun is facing competition from his uncle Chung Mong-gyu, chairman of Hyundai Development Co. Ji-sun is the grandchild of the late Hyundai Group founder Chung Ju-yung. Mong-gyu is the only child of the late former Hyundai Deve
IndustryJan. 29, 2015