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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Yoon, Lee end first talks with differences, agree to meet more
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Woman gets suspended term for injuring boyfriend with knife
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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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Seoul shares open higher on improved global data
South Korean stocks opened higher Friday on the back of signs of an economic recovery in China, the United States and the eurozone, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) increased 6.11 points, or 0.33 percent, to 1,855.23 in the first 15 minutes of trading.Tech shares led the market gain, with No. 1 player Samsung Electronics adding 1.35 percent and its rival LG Electronics climbing 0.57 percent. Top chipmaker SK Hynix gained 1.07 percent.Carmakers also traded hig
Aug. 23, 2013
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Radio communication confirms successful launch of S. Korea's new satellite
South Korea's new multipurpose satellite made contact with a ground station in the Asian country early Friday, confirming its successful deployment into its target orbit, officials in Yasny said.The first communication contact was made at 2:35 a.m. (5:35 a.m. KST), according to the officials from the Korea Aerospace Research Institute (KARI). The Korea Multipurpose Satellite-5 (KOMPSAT-5) was launched Thursday from a launch base in Yasny, located some 1,800 kilometers southeast of Moscow, using
TechnologyAug. 23, 2013
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Hyundai union to stage partial strikes again
Unionized workers at South Korea's largest carmaker Hyundai Motor Co. vowed to stage partial strikes again after they failed to narrow differences with the management over the latest dispute over wages, union officials said Friday. Union spokesman Kwon Oh-il said the 46,000-strong labor union will put down tools for eight hours each on Friday and Monday to press its demand for higher wages and more fringe benefits."The management's proposals fell short of our union's expectations," Kwon said by
IndustryAug. 22, 2013
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Fitch maintains stable 'AA-' rating on Korea
A leading credit rating firm has kept its rating on Korea unchanged despite snowballing speculation of another Asian crisis.Fitch Ratings Co. on Thursday said that it retains the nation's sovereign rating of "AA-," the fourth-highest investment grade with a stable outlook, citing thecountry's good fundamentals.The global credit appraiser said it maintains the level as it believes that the country's household debts and exterior economic conditions will unlikely have a profound impact on the count
BusinessAug. 22, 2013
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[Graphic News] TV broadcasters’ viewer ratings
According to data from the Korea Communications Commission, the public broadcaster KBS topped viewer ratings with 36.16 percent of broadcast TV audiences last year. Among cable networks, CJ E&M came in first with 9.38 percent, followed by TV Chosun, run by the daily Chosun Ilbo, with 8.79 percent, and JTBC, run by JoongAng Ilbo, with 7.88 percent.
Aug. 22, 2013
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Samsung to launch customized emergency service
Samsung Medical Center will start to offer personalized medical services at its emergency room to improve the quality of care and provide precise diagnoses to patients, the hospital said Thursday.The hospital has developed a computerized communication tool to provide real-time information about the overall treatment process to patients and their families. For instance, monitors installed at each bed will display the expected time of lab test results ordered by physicians or the treatments they h
TechnologyAug. 22, 2013
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Avoiding, treating stomach problems
Compared to Western countries, more people in Korea complain of symptoms related to the gastrointestinal system. However, many people tend to dismiss such symptoms and do not see a doctor about it, which can sometimes lead to the progression of serious illnesses, such as gastric cancer. The best methods to maintain a healthy life is to practice healthy lifestyle habits and have regular checkups to diagnose conditions early. Here, we will look at gastritis, gastric ulcers and gastric cancer, whic
TechnologyAug. 22, 2013
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U.S. states lure strike-hit Hyundai
Another round of labor woes is looming at Hyundai Motor Group, raising the possibility that the Korean auto giant will seek to shift production to its factories overseas, especially in the all-important U.S. market. Before resuming wage talks with the management on Thursday, union members at Hyundai’s Korea plant staged partial strikes on Tuesday and Wednesday that cost the automaker 85.6 billion won ($76.3 million) in lost output. And two U.S. states ― Georgia and Alabama ― are eyeing the escal
IndustryAug. 22, 2013
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NHN’s LINE expected to issue IPO early next year
TOKYO ― LINE Corp. said Wednesday that it planned to issue an initial public offering once its user base surpassed 300 million worldwide. “LINE would be able to issue the initial public offering when the firm secures a stable number of users, say, over 300 million,” said Hwang In-joon, CFO of NHN, the holding company of LINE Corp.The current number of LINE users stands at 230 million, having grown rapidly in just over two years since its release. He said where the firm would issue the IPOs was “
IndustryAug. 22, 2013
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Daily use of cards grows slower in H1
The daily use of plastic cards in South Korea grew at a slower pace in the first half compared with six months earlier amid sluggish domestic demand, the central bank said Thursday.Spending via plastic including credit and debit cards was valued at a daily average of 1.8 trillion won ($1.59 billion) in the January-June period, up 2.8 percent from a year earlier, according to the Bank of Korea.The growth slowed compared with the second half of 2012 when the daily card use grew 5.5 percent on-year
Aug. 22, 2013
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Credit card firms’ delinquency rate rises
South Korean credit card companies saw the default rates of their card holders increase in the first half amid the protracted economic slump, data showed Thursday.Samsung Card Co., one of South Korea’s largest credit card firms, saw its delinquency rate reach 1.82 percent as of end-June this year, up 0.14 percentage point from end-December 2012, industry data showed.The default rate measures overdue credit card bills against the total charge. A higher number indicates more people are failing to
Aug. 22, 2013
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Daelim bags W1.3tr on plant order from Malaysia
Daelim Industrial Co., a South Korean construction firm, said Thursday that it has won a 1.3 trillion won ($1.16 billion) deal to build a thermal power plant in Malaysia.Under the deal with state-run Tenaga Nasional Berhad, Daelim will complete the construction of the coal-powered plant by October 2017, the company said.The 1,000-megawatt plant will be built in Manjung, 288 kilometers northwest of Kuala Lumpur, it added.TNB accounts for about 55 percent of the Southeast Asian country‘s electrici
IndustryAug. 22, 2013
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KTC to levy anti-dumping tariffs on Chinese plywood
South Korea’s trade commission said Thursday it has decided to levy anti-dumping tariffs on imported Chinese plywood as the importers were underselling their products.The decision by the Korea Trade Commission will impose punitive duties of 2.42 percent to 27.1 percent on Chinese plywood sold here, it said. Whether to actually impose anti-dumping duties will be decided by the finance ministry.The local market for the material reached about 870 billion won ($775 million) last year with Chinese ma
IndustryAug. 22, 2013
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Level 2 warning for power shortage issued
With the sudden suspension of another nuclear reactor, authorities issued a level-two warning on the nation’s electric power supply, for the fourth time this summer.The Korea Power Exchange raised the “attention” warning at 1:37 p.m. on Thursday as the quick-start reserve fell below the 3.5-million-kilowatt level, officials said.This caused tension in the power supply control towers as the alarm came some 20 minutes sooner than expected.The Ministry of Trade, Industry and Energy claimed late las
Aug. 22, 2013
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LG Uplus rolls out smart gadget ‘Homeboy’
LG Uplus on Thursday rolled out a new smart device serving multiple home appliance functions. The new device, called “Homeboy,” functions as a TV, audio player, e-book platform, phone and closed-circuit television. The 7-inch screen device lets users access some 50 TV channels, movies, millions of music tracks and tens of thousands of e-books. Some 1,600 children’s stories and 32 different musical instrument applications are also available. Monthly subscription fees vary from 16,000 won to 20,00
IndustryAug. 22, 2013
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Sales at discount outlets, department stores fall in July
Sales at South Korea’s major discount outlet chains and department stores declined in July from a year earlier as the prolonged rainy season curbed retail sales, the government said Thursday.According to the Ministry of Trade, Industry and Energy, combined sales of three major discount outlet chains here fell 4.9 percent in July from a year earlier, a turnaround from a 4.2 percent on-year gain in June. The three discount outlet chains are Lotte Mart, E-Mart and Homeplus.The government said that
Aug. 22, 2013
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K-sure seeks to aid shipbuilding with new bond insurance plan
Aiming to boost the competitiveness of local shipbuilders, the state-run Korea Trade Insurance Corp., or K-sure, has launched the K-sure Covered Bond Program to provide easier funding for shipowners, officials said Thursday.The idea is to encourage foreign ship owners to place orders with Korean shipbuilders by offering them low-interest bond funds as an alternative to conventional bank loans.“Major ship owners have been faced with financial obstacles over recent years as the European banks, ami
Aug. 22, 2013
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[Photo News] Promoting traditional win
Aug. 22, 2013
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Foreigners’ exit accelerates capital outflow
Worries over a massive capital outflow are escalating in the local financial market as indices show that a number of overseas investors pulled out from fund products this week.The trend reflects global concern about a possible financial crisis in emerging countries such as India and Indonesia, which may have negative impact on Korean industries.According to the Korea Financial Investment Association on Thursday, the local market posted a net capital outflow from the “funds investing in Korean st
Aug. 22, 2013
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Korea’s household credit hits record high in Q2
South Korea’s household credit rose to a fresh record high in the second quarter as housing lending increased ahead of the end to a tax benefit over home purchasing, the central bank said Thursday.Household credit totaled 980 trillion won ($870.1 billion) as of the end of June, up 16.9 trillion won from three months earlier, according to the Bank of Korea.Household credit refers to credit purchases and loans for households extended by financial institutions, including commercial lenders and mutu
Aug. 22, 2013