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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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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Yoon, Lee end first talks with differences, agree to meet more
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Samsung chief bolsters ties with Germany’s Zeiss
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Conglomerates' nonprofit arms hold 5 tln won in shares: data
Nonprofit arms under South Korea's top business groups held 5 trillion won (US$4.5 billion) worth of shares as of August, data showed Monday, urging the authorities to intensify oversight for transparency.Three nonprofit arms of Samsung Group saw their stock assets reach 2.7 trillion won at end-August, taking up 57 percent of all assets held by 19 conglomerate-linked charities, according to the data by Chaebul.com.Hyundai Heavy Industries Co., South Korea's leading shipbuilder, held two nonprofi
Sept. 2, 2013
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Seoul shares open lower on U.S. losses
South Korean stocks opened lower Monday due to losses on Wall Street in the previous trading session amid the rising crisis in Syria, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) edged down 0.51 points, or 0.03 percent, to 1,925.85 in the first 15 minutes of trading.Shares lost ground across the board, with tech giant Samsung Electronics falling 0.29 percent and top steelmaker POSCO moving down 0.78 percent. No. 1 carmaker Hyundai Motor shed 1.41 percent.U.S. stocks clos
Sept. 2, 2013
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S. Korea's consumer prices grow 1.3 pct on-year in Aug.
South Korea's consumer price growth stayed in the 1-percent range for the 10th straight month in August, a government report showed Monday.The country's consumer price index rose 1.3 percent on-year in August, decelerating from a 1.4 percent gain tallied in the previous month, according to the report by Statistics Korea.The August figure represented the 10th straight month since November that the price growth has stayed in the 1-percent range.The core inflation, which excludes volatile oil and f
Sept. 2, 2013
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7 of top 10 conglomerates see earnings fall in H1
Seven of the 10 biggest business groups in Korea saw a contraction in profits or widening losses in the first half on a year-on-year basis, apparently hit by weaker price competitiveness in exports due to the cheap Japanese currency.According to the Korea Listed Companies Association, 79 publicly traded units owned by the 10 major conglomerates saw their collective operating profit come to 24.3 trillion won ($21.1 billion) during the first half, down 4.1 percent from 25.3 trillion won in the sam
Sept. 1, 2013
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Korea expands testing to all imported fish
The government plans to expand testing for radioactive contamination to all fish imports as public concerns mount over leaks from the Fukushima plant in Japan, officials said.The state-run National Fishery Products Quality Management Service said the government took the measure as consumers were avoiding fish and seafood for fear of radioactive contamination, dealing a blow to the nation’s fisheries industry.“The government plans from this month to strengthen the radioactive contamination tests
Sept. 1, 2013
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[Newsmaker] KORAIL rapped for tardy response to crash
KORAIL, the nation’s state-run railway operator, is facing public criticism over its response to a train collision on Saturday. Two passenger trains collided near Daegu Station at 7:14 a.m. on Saturday, disrupting rail traffic between Seoul and Busan. A third train later crashed into the two stationary vehicles. The cause of the accident had yet to be confirmed as of Sunday afternoon. No one was seriously injured in the crash, but passengers on board the trains expressed outrage over what they
Sept. 1, 2013
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[Graphic News] Japan eyes defense budget increase
Japan’s Defense Ministry is looking for its biggest budget hike in two decades, partly to create a Marines-like force, as neighbors fret about Tokyo’s rising assertiveness.
Sept. 1, 2013
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Competition heats up for new smart devices
The global smart device race is becoming fiercer as major tech giants are moving to roll out their new gadgets in September. Samsung Electronics, LG Electronics and Sony will unveil their handsets during the IFA consumer electronics trade show in Berlin on Sept. 6-11. The release date for Apple’s iPhone 5S is reportedly slated for Sept. 20. Samsung’s Galaxy Note 3 is set to debut during a press conference on Wednesday before the IFA event kicks off. It is speculated that the Galaxy Note 3 will f
IndustrySept. 1, 2013
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LG unveils G Pad specs
LG Electronics on Sunday unveiled the specifications of its tablet G Pad, which is slated to launch at the IFA consumer electronics show in Berlin on Friday. The “LG G Pad 8.3,” the first in the company’s G-series, is to roll out in the fourth quarter of this year and its price tag has yet to be fixed.The 8.3-inch Android tablet will feature full high-definition in-plane switching display with a resolution of 277 pixels per inch. The device measures 126.5x216.8x8.3 millimeters and weighs 338 gra
IndustrySept. 1, 2013
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China bans nonregular-route sharing between airlines
Korean airlines are no longer allowed to share routes for their nonregular flights to China after the Chinese aviation authorities decided to allocate only one route per air carrier for unscheduled flights. The Ministry of Land, Infrastructure and Transport said Sunday that it has recently adjusted the number of nonregular flights to China that are operated by seven local airlines from the previous 365 to 311 to meet the regulations.The adjustment was carried out voluntarily by airlines, but the
IndustrySept. 1, 2013
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Stock issuances hit lowest since ’09 crisis
Korean companies’ stock issuances fell to their lowest level since the 2008-09 global financial crisis during the first half, signaling sluggish corporate fund-raising in the securities market.According to the World Federation of Exchanges and Korea’s financial investment industry, the corporate initial public offerings were valued at $228 million in the local stock market for the first six months of the year.The IPOs accounted for only 0.02 percent of the combined market capitalization worth $1
Sept. 1, 2013
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Boryeong thermal plant sets performance record
The coal-powered unit 3 plant of the Boryeong thermal power complex in South Chungcheong Province set a world record on Sunday in performance by going without a single breakdown for 5,000 consecutive days, according to Korea Midland Power, the complex’s operator. “The 500-megawatt plant has continued trouble-free operations since Dec. 17, 1988. The world record performance proves world-class competitiveness of the nation’s power plant industry,” the company said in a press release.KOMIPO has mad
IndustrySept. 1, 2013
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POSCO sets multi-year model for pay raise deal
Management and labor of 17 affiliates of POSCO, including POSCO Engineering & Construction and POSCO Energy, reached an agreement on pay raise for 2013 and 2014 without conflicts, POSCO said in a press release. Different from the dominant annual pay raise negotiations in Korea, the nation’s top steelmaker and its affiliates adopted two-year term pay raise negotiations in 2007 and 2012, respectively. “POSCO’s agreement on pay increase for multiple years could be a model for the nation’s consummat
IndustrySept. 1, 2013
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Renault’s Tavares said to have asked Ghosn for wider role
Renault SA Chief Operating Officer Carlos Tavares proposed taking on a wider role at the French carmaker in meetings last week with Chief Executive Officer Carlos Ghosn, two people familiar with the matter said. Ghosn, who is also the CEO of alliance partner Nissan Motor Co., turned him down and offered to let him stay as COO, said the people, who asked not to be identified because the talks were private. Tavares, who would have still reported to Ghosn under his proposal for a broader role, deci
MobilitySept. 1, 2013
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Chevrolet Spark EV no glorified golf cart
To sum up a test-drive experience for Chevrolet’s Spark EV, I would start with “unusual.”Because it was my first time driving a purely electric vehicle, there are limitations to my evaluation, such as being unable to compare it to its rivals, for instance.But even with minimal references to rely on, I still had certain expectations, partly from my experience with hybrids.And it was precisely as I had imagined ― nothing more, nothing less.As I was driving the Spark EV, I thought of the prejudice
MobilitySept. 1, 2013
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Busan to hold international population conference
More than 2,500 scholars and experts from around the world will gather in Busan on Aug. 26 to share ideas and visions for the changing population and its subsequent impact on societies and economies.The event hosted by the Paris-based International Union for the Scientific Study of Population will take place at BEXCO for six days, according to organizers. More than 1,000 studies and research on emerging population issues will be presented through various sessions.“This conference is expected to
TechnologySept. 1, 2013
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S. Korea's exports grow 7.7 pct in Aug.
South Korea's trade surplus widened from a year earlier last month as the growth of its exports significantly outpaced that of its imports, the government said Sunday.In August, the country's outbound shipments came to about US$46.36 billion, up 7.7 percent from the same month last year, while its imports only inched up 0.8 percent on-year to some $41.45 billion, according to the Ministry of Trade, Industry and Energy.The country's trade surplus reached $4.91 billion, up from $2.75 billion in Au
Sept. 1, 2013
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Kumho Tire seeks to complete building suspended plant in U.S.
The head of Kumho Tire Co. has said his company is seeking to complete construction of its suspended plant in the United States, a move that could give South Korea's second-biggest tire maker a foothold in the world's second-largest auto market.Kumho Tire broke ground for its first plant in the U.S. state of Georgia in 2009, but the construction has since been stalled as creditors placed the key affiliate of Kumho Asiana Group under a debt workout scheme to help the country's 14th-biggest busine
CompaniesSept. 1, 2013
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Train collision disrupts Seoul-Busan rail traffic
Two passenger trains collided Saturday near Daegu Station disrupting rail traffic between Seoul and Busan, authorities said. The accident, which took place some 300 kilometers southeast of Seoul at 7:15 a.m., involved a KTX bullet train and a Mugungwha passenger train, Korea Railroad Corp. said, adding that no one was seriously injured or killed although some passengers suffered abrasions. All passengers were safely removed from the trains and taken by bus or taxi to nearby East Daegu Station.
IndustryAug. 31, 2013
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Decisive role for Premier Nguyen Tan Dung
As seen in recent regular press conferences in the first eight months of 2013, the Vietnamese government has pointed out that the economy is showing positive signs. A fairly stable macro economy has been achieved, inflation is under control, bank interest rates have declined, credit growth has been on a good trend, challenges in production and trading sectors have been partly resolved, industrial outputs -- particularly in the processing and manufacturing industries -- have steadily improved, e
Aug. 31, 2013