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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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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China outpaces Korea in smaller OLED shipments for 1st time
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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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KDB Financial to re-absorb KoFC in 2014
Financial authorities on Tuesday unveiled the vision to strengthen the state-policy financing by merging the state-controlled KDB Financial Group and the Korea Finance Corp. by July 2014.The separate functions of KDB Financial and the KoFC are scheduled to be re-integrated five years after the latter spun off from the financial group in 2009, according to the Financial Services Commission.The merge, in which KDB is to re-absorb the KoFC, should go through lawmakers’ approval procedures during th
Aug. 27, 2013
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[Photo News] Kia's news Coupe
MobilityAug. 27, 2013
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Korea to push logistics sector as growth engine
Deputy Prime Minister and Finance Minister Hyun Oh-seok said Tuesday that Korea must further develop and advance its logistics sector to coincide with its global economic level.The government needs to create next-generation logistics companies that can provide comprehensive services using the latest advanced information technology, Hyun said in a meeting with economic-related ministers.He urged the Ministry of Land, Infrastructure and Transport and the Ministry of Oceans and Fisheries to impleme
Aug. 27, 2013
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GM Korea unveils electric car
GM Korea unveiled its electric car, the Chevrolet Spark EV, at a ceremony in Incheon on Tuesday, saying it will begin selling the vehicle in October.“The pure electric Spark EV represents another step forward on GM’s roadmap to providing a variety of solutions that benefit our environment and our customers,” said Sergio Rocha, CEO of GM Korea. “As GM’s first fully electric vehicle in the domestic market, it demonstrates Korea’s important role in GM’s long-term global vehicle strategy.”The Spark
MobilityAug. 27, 2013
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Samsung to unveil new OS for smart devices soon
Samsung Electronics is beefing up its efforts to release a new operating system for smart devices. The electronics giant said Tuesday that it opened up registration for the first Samsung Developers Conference, scheduled to be held in San Francisco from Oct. 27-29.Expectations are high over whether the Seoul-based firm will release a new version of its mobile operating system Tizen ― a project pushed mainly by the Korean firm along with other mobile manufacturers and service carriers including In
IndustryAug. 27, 2013
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FSS reports rise in illegal foreign exchange deals
The Financial Supervisory Service unearthed a total of 150 cases of illegal foreign exchange transactions in the first half of this year, officials said Tuesday. The number is an increase of 26 percent from the same period last year, when 119 cases were detected, the FSS said in a statement. These crimes were mostly caused by failing to report certain foreign currency-related financial transactions to the banks, as designated in the regulatory act, according to FSS officials.About 65 percent of
Aug. 27, 2013
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Samsung to launch curved OLED TV in Europe
Samsung Electronics Co., the world’s largest flat-screen TV maker, said Tuesday that it plans to roll out its first 55-inch curved OLED TV with full HD capabilities in Europe with a price tag of 7,999 euros.In June, Samsung introduced the TV set on its home turf, joining the race for the next-generation TV market. Early this month, Samsung also rolled out the TV in the U.S.Samsung said the TV set will hit the shelves in Germany on Wednesday, and be released in France, Austria, the Netherlands, I
CompaniesAug. 27, 2013
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POSCO unit-led group likely to win Mongolia project
A consortium led by POSCO Energy Co., a unit of South Korea‘s leading steelmaker POSCO, has been named as the preferred bidder for a 1.5-trillion-won ($1.34 billion) power plant project in Mongolia, the company said Tuesday.The consortium will build and operate the 450-megawatt coal-powered power plant for 25 years, and then transfer it to the Mongolian government, according to POSCO Energy.The Mongolian government will use the electricity output produced from the power plant, it said.GDF Suez o
CompaniesAug. 27, 2013
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LG Display CEO sees rosy future
LG Display CEO Han Sang-beom pledged Tuesday that the display firm would create new products through innovative display technology and cooperation with other sectors at an academic conference in Daegu on Tuesday. “Scientists reason and predict based on technology while novelists and comic artists imagine. The future we are dreaming of can come true by harmonizing technology and imagination,” said CEO Han while giving a keynote speech under the title “Display Your Dream: Better Life with Dream Di
IndustryAug. 27, 2013
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Korea to require registration of key technologies
South Korea is moving to strengthen its protection of key national technologies by requiring all individuals and entities to register their possession of such technologies, the government said Tuesday.A revision of the law on protection of industrial technologies to that end has recently been announced, according to the Ministry of Trade, Industry and Energy.Under the proposed revision, the government also plans to impose a maximum fine of 10 million won ($8,958) on anyone who fails to register
Aug. 27, 2013
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‘Time to invest in innovation’
In a world which has long been caught in slow growth, one should turn the conventional business conceptions upside down in order to seek new growth opportunities, according to one of the world’s top innovation gurus.“When the economy is sluggish, companies fear changes and risks, but it is ironically in such times that they must invest in innovation,” Vijay Govindarajan, professor at the Tuck School of Business at Dartmouth College, told The Korea Herald in an interview.The Indian professor, who
BusinessAug. 27, 2013
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KB Kookmin Card promotes aggressive marketing
KB Kookmin Card Co. has launched a two-track Chuseok holiday promotion with lucky-draws and cash-back points, the company said on Tuesday. The card company will randomly select 918 of its credit card users and grant them a variety of free gifts, such as gas coupons, department store gift cards, travel gift cards or extra points. The card users can try their luck at either the online event zone at www.kbcard.com, or on the card firm’s mobile app. Eligible applicants must have a card payment histo
BusinessAug. 27, 2013
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HiteJinro to release ale beer next week
HiteJinro Co. is to introduce an ale on Sept. 5, aiming to compete with import brands from countries such as Belgium, the U.K., Germany and Ireland.This will be the first time that an ale has been released by a major Korean liquor maker in the domestic market. The local industry has mainly focused on the development of lagers.The company developed the product, dubbed Queen’s Ale, starting June 2010, in collaboration with a leading Danish consulting firm, Alectia.The difference between lager and
Aug. 27, 2013
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Seoul shares little changed amid signs of momentum
South Korean stocks closed almost flat Tuesday, as investors took a breather following previous rallies amid signs of growth in China and Europe, analysts said.The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.02 points, or 0.11 percent, to finish at 1,885.84. Trading volume was moderate at 403 million shares worth 3.71 trillion won (US$3.33 billion) with decliners outnumbering gainers 535 to 256. Analysts said the KOSPI's marginal dr
Aug. 27, 2013
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Seoul shares up 0.18 pct in late-morning trade
South Korean stocks traded 0.18 percent higher late Tuesday morning, paring earlier losses with gains led by builders and state-run firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 3.48 points to 1,891.34 as of 11:20 a.m. Hyundai Engineering & Construction, one of the nation's top builders, jumped more than 2 percent, with state-run electricity provider Korea Electric Power Corp rising 1.8 percent. Top-cap Samsung Electronics also gained 0.3 percent. The local
Aug. 27, 2013
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Seoul shares open lower on financial losses
South Korean stocks began marginally lower Tuesday on losses in shares of large-cap insurers and brokerage houses, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 0.84 points, or 0.04 percent to 1,887.02 in the first 15 minutes of trading. Leading player Samsung Life Insurance fell 0.5 percent with No.2 banking group KB Financial Group sliding more than 1 percent. Analysts predicted the main index to start weaker as investors may opt for profit-taking after the
Aug. 27, 2013
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‘Now is not time to buy core assets’
The global asset market has lost steam amid the prolonged global economic slowdown, and the Korean market situation is not faring much better.But this does not mean investors should wait until the mist clears, according to a top strategist at the U.S.-based LaSalle Investment Management. “Now is not time to buy core ― it is very expensive,” said Paul Guest, Asia-Pacific head of research and strategy of the company, in an email interview with The Korea Herald. “But there are plenty of near-core a
Aug. 27, 2013
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S. Korea's consumer sentiment remains flat for 3rd month in Aug.
South Korean consumer sentiment remained unchanged for the third straight month in August as economic uncertainty lingers, the central bank said Tuesday.The consumer sentiment index (CSI) -- a gauge of consumers' overall economic outlook, living conditions and future spending -- came in at 105 for August, unchanged from the previous month, according to the Bank of Korea (BOK).Though the index has stayed flat since June, it marked the highest level since the index hit 106 in May last year.A readi
Aug. 27, 2013
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Korea, China to hold 7th round of FTA negotiations next month
South Korea and China will hold a new round of negotiations for their free trade agreement early next month, the Trade Ministry in Seoul said Monday.The seventh round of the FTA talks will be held in the Chinese city of Weifang, Shandong Province from Sept. 3-5, the ministry said.In the upcoming round, Seoul plans to complete issues involving how and at what level commodity and service markets will be deregulated and discussions over the modality of their FTA negotiations.Seoul and Beijing launc
Aug. 26, 2013
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Revision proposed to boost SMEs’ duty free shops
The Ministry of Strategy and Finance said Monday that it proposed amendments to customs legislations allowing the expansion of duty free shops operated by small and medium enterprises.The revision also included downsizing duty free shops owned by conglomerates such as Lotte and Shinsegae, and restricting them to maintain a market share below 60 percent.SMEs, meanwhile, will be able to see the benefits from this revision that will allow an increase in the number of their shops to account for more
Aug. 26, 2013