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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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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LG CNS asks employees to be versatile
LG CNS CEO Kim Dae-hoon said Monday that the company needs new human resources that can create high value-added solutions and technologies by coming up with good ideas generated from a wide range of knowledge.In a meeting with his new employees at the company’s headquarters in Seoul, the chief executive of the IT solutions provider said it needs “people who can freely use both hands” in this age of smart technology. LG CNS CEO Kim Dae-hoon advises rookies to develop their skills and become versa
TechnologyJuly 14, 2014
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Korea’s auto parts exports hit all-time high in H1: data
South Korea’s exports of auto parts jumped to an all-time high in the first half of this year, driven by robust sales of vehicles in overseas markets, government data showed Monday.According to the data by the Ministry of Trade, Industry and Energy, South Korea exported $13.58 billion worth of auto parts during the January-June period, up 5.4 percent from a year earlier. This represented the largest amount of first-half exports, breaking the previous record of $12.84 billion tallied during the f
IndustryJuly 14, 2014
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Firms’ dividend payouts forecast to stay low this year
Dividend payouts by South Korean listed firms are expected to remain low this year compared with their foreign rivals, although their average dividend yield ratio may creep up from last year, industry data showed Monday.The average dividend yield ratio of listed firms that trade on the country’s main bourse is estimated at 1.25 percent for the year, compared with last year’s 1.18 percent, according to the data.The dividend yield ratio refers to a company’s annual dividend payments per share divi
July 14, 2014
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Renault Samsung, GM Korea face prospect of strikes by workers
South Korean carmakers are facing the prospect of renewed labor strife as they deal with unfavorable market conditions, industry sources said Monday.Renault Samsung Motors Co. and GM Korea Co. said their union workers are planning walkouts and work disruptions after initial union-management talks failed to find middle ground on regular wages, bonuses and fringe benefits.Renault Samsung, the local unit of French automaker Renault S.A., said its workers at the company’s Busan plant will halt work
MobilityJuly 14, 2014
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Truckers stage one-day strike to push parliamentary passage of bill
Thousands of unionized truck drivers across the country staged a one-day strike on Monday, demanding the parliament pass a bill that would improve their working conditions.The members of a truckers' union affiliated with the Korea Confederation of Trade Unions, the more militant of the nation's two umbrella unions, also held rallies in the union's 15 regional offices. "Since the National Assembly has yet to approve a cargo-related bill proposed in 2012, some 380,000 cargo transportation workers'
IndustryJuly 14, 2014
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China informs S. Korea of service blockage of KakaoTalk, Line
China has told South Korea that it has blocked online services of South Korea's two popular mobile messaging applications, KakaoTalk and Line, since earlier this month, a South Korean diplomat with the knowledge of the matter said Monday, adding that the services would "soon" return to normal.Along with other foreign online services, including Yahoo Inc.'s photo-sharing site Flickr, users in China have been unable to access online services of KakaoTalk and Line for more than 10 days. Some anti-c
TechnologyJuly 14, 2014
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Regulators to reprimand main creditor of troubled conglomerates
The financial watchdog will reprimand the main creditor bank of cash-strained STX Group and Dongbu Group for negligence in monitoring the financial conditions of the conglomerates, officials said Monday, pressuring the bank to take stronger measures to normalize the ailing firms.STX Group, the 13th-biggest conglomerate with 10 affiliates under its wing, has been struggling with a liquidity shortage and mounting debts due to the downturn in the shipbuilding and shipping sectors.The Financial Supe
July 14, 2014
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Korean firms' dividend payouts forecast to stay low this year: data
Dividend payouts by South Korean listed firms are expected to remain low this year compared with their foreign rivals, although their average dividend yield ratio may creep up from last year, industry data showed Monday.The average dividend yield ratio of listed firms that trade on the country's main bourse is estimated at 1.25 percent for the year, compared with last year's 1.18 percent, according to the data.The dividend yield ratio refers to a company's annual dividend payments per share divi
July 14, 2014
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Korean carmakers face prospect of strikes by workers
South Korean carmakers are facing the prospect of renewed labor strife as they deal with unfavorable market conditions, industry sources said Monday.Renault Samsung Motors Co. and GM Korea Co. said their union workers are planning walkouts and work disruptions after initial union-management talks failed to find middle ground on regular wages, bonuses and fringe benefits.Renault Samsung, the local unit of French automaker Renault S.A., said its workers at the company's Busan plant will halt work
IndustryJuly 14, 2014
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S. Korea's auto parts exports hit all-time high in H1: data
South Korea's exports of auto parts jumped to an all-time high in the first half of this year, driven by robust sales of vehicles in overseas markets, government data showed Monday.According to the data by the Ministry of Trade, Industry and Energy, South Korea exported $13.58 billion worth of auto parts during the January-June period, up 5.4 percent from a year earlier. This represented the largest amount of first-half exports, breaking the previous record of $12.84 billion tallied during the f
IndustryJuly 14, 2014
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[Newsmaker] Seoul needs a true hero
Whenever the fictional city of Gotham finds itself threatened by thugs, gangsters and psychopathic killers who are too much for its police force to cope with, the helpless city lights a distress signal calling for reinforcement.A man in a dark suit of armor with high-tech military gadgets races to save the city he has unconditionally sworn to protect from further falling into disgrace stemming from rising social injustice and disparity.Batman has been portrayed as a symbol of hope since his ince
July 13, 2014
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Samsung, LG up ante against Apple
Samsung Electronics and LG Electronics, two of the world’s biggest smartphone makers, are gearing up for the next big battle with Apple as they are likely to unveil new smartphones before the much-anticipated release of the California-based firm’s iPhone 6 in September.Rumor has it that Samsung Electronics plans to roll out a new smartphone — reportedly named Galaxy S5 F or Galaxy S5 Alpha — sporting a premium metal body, Samsung’s Exynos 5 Octa chipset, a 6-mm thick frame and a 4.7-inch Super A
TechnologyJuly 13, 2014
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Foreign banks obligated to release financial info: watchdog
South Korea’s financial watchdog said Sunday it will order foreign banks operating here to disclose their financial data, including balance sheets and income statements, starting in the fourth quarter of 2014.The Financial Supervisory Service said all financial firms will be ordered to make public their financial status on the Financial Statistics Information System, a financial data website operated by the watchdog since 2004.“We will continue our efforts to provide people with more data for mo
July 13, 2014
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‘KEB, Hana merger is a bonanza’
Hana Financial Group chairman Kim Jung-tae has reiterated his support for speeding up the merger between Hana and Korea Exchange Bank, stressing that the synergy from the integration would be worth up to 1 trillion won ($980 million).“The KEB, Hana merger is a bonanza,” Kim said during an executive workshop over the weekend. “The early merger will serve as a critical opportunity to make a breakthrough in the internal and external crises and prepare for future growth.” Hana Financial Group chair
July 13, 2014
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Korea’s global ranking in GDP remains unchanged at 14th: BOK
South Korea ranked 14th worldwide in terms of nominal gross domestic product for a fifth straight year in 2013, according to the country’s central bank Sunday.South Korea’s GDP was valued at $1.3 trillion in 2013, remaining unchanged since 2009. In 2005, Asia’s fourth-largest economy had ranked 10th, but tumbled to 15th in 2008 during the global economic crisis.GDP is the broadest measure of an economy’s performance, and it indicates the total value of goods and services produced within the econ
July 13, 2014
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Korea completes first nuclear waste repository in Gyeongju
South Korea’s first facility dedicated exclusively to storing radioactive waste will soon start operations, the facility’s state-run operators said Sunday, adding that the facility would help improve the country’s nuclear waste management. The 1.56 trillion won ($1.53 billion) facility in Gyeongju, North Gyeongsang Province, was completed at the end of June after seven years of construction, the Korea Radioactive Waste Agency said. It also marks almost two decades since the government initiated
IndustryJuly 13, 2014
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Hyundai Heavy wins $2b order in UAE
Hyundai Heavy Industries, the world’s largest shipbuilder, has won a $1.94 billion order to build four offshore oil production platforms and to lay undersea cables in the United Arab Emirates. Under the deal signed with Abu Dhabi Marine Operating Company, or ADMA-OPCO, the shipbuilder will be constructing a gas treatment platform, a separation platform, an accommodation platform and an all-purpose structure to be set up in Nasr oil field, some 131 kilometers northwest of Abu Dhabi.For Hyundai He
IndustryJuly 13, 2014
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Hyundai Motor Brazil makes impact on local economy
SAO PAULO ― The roads in Piracicaba, a rural town two hours’ drive from the city of Sao Paulo, are dug up on the shoulders and center dividers. Construction workers drill and repave roads, and where there were only sugar plantations five years ago, there is now a hive of activity.This is the production hub of Hyundai Motor Brazil, a subsidiary of Hyundai Motor Group that opened its first Latin American factory here in 2012 as part of its overseas expansion into emerging economies. And as Hyundai
MobilityJuly 13, 2014
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Seoul shares expected to move within narrow range
South Korean stocks are expected to move in a narrow range next week as investors wait to assess the impact of the trade suspension of Portugal’s largest banking group and upcoming key events, analysts said Saturday.The benchmark Korea Composite Stock Price Index ended at 1,988.74 on Friday, falling 20.92 points, or 1.04 percent, from the previous week.The index started weaker in the beginning of the week ahead of Samsung Electronics’ earnings estimate released on Tuesday.Despite Samsung’s bigge
July 13, 2014
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Seoul’s export growth to dip in third quarter: poll
South Korea’s export growth will likely drop in the third quarter due to unfavorable exchange rates and the flare-up in violence in Iraq, a poll conducted by a state-run trade promotion agency said Sunday.According to the survey by the Korea Trade-Investment Promotion Agency, its leading export index for the July-September period came to 51.3 points, down 0.6 from the 51.9 points predicted for the second quarter.A reading above 50 translates into more exports, while numbers that fall short of th
July 13, 2014