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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[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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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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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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Samsung to show tech prowess at innovation forum
Samsung Electronics will open its Innovation Forum on Thursday where the global tech giant will show off its technology prowess.“We (Samsung) have been growing to the point where we should light the way in the market like a lighthouse,” said Kim Nam-yong, a vice president of Samsung Electronics’ Corporate Management Office at a media event the day before the opening of the Samsung Innovation Forum. The self-assessment was also reflected at a closed-door event, held earlier this month, in which e
IndustryJune 26, 2013
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Korea may cut tax benefits for high income earners, big firms
SEJONG (Yonhap News) ― South Korea might consider scaling down tax benefits available to high income earners and large businesses as part of its efforts to raise more tax revenue to meet growing fiscal demand from expanded welfare programs. The expectation is growing as the state-run Korea Institute of Public Finance earlier made such recommendations to the government for its policy related to temporary tax cut and exemption programs. The tax benefit programs have been provided temporarily for s
TechnologyJune 26, 2013
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Virtual goods new opportunity for telecoms: KT chief
KT chairman Lee Suk-chae urged global telecommunications firms to swiftly jockey for the position in the virtual goods marketplace. Delivering a keynote speech at the Mobile Asia Expo 2013 in Shanghai on Wednesday, the head of the nation’s leading mobile carrier said there is no future if they only cling to services they are providing now.Telecoms should jump into the global market for distribution of virtual goods as early as possible to keep up with the fast-changing market trends, he added. A
TechnologyJune 26, 2013
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Hydis gathers ammunition with e-paper displays
Hydis Technologies is not what one would call a big company, but for Korea, it has a symbolic meaning. It was one of the firms that foreign capital gobbled up, only to spit out after stripping it of vital assets and technology.Now, Hydis, owned by Taiwan-based E Ink Holdings, is out to get back on the map with the production of e-paper displays, the main element for e-books. Starting in July, Hydis expects to start rolling out electronic paper displays, an area that E Ink is a global leader in.H
TechnologyJune 26, 2013
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Renault Samsung sees less as more in engines
Renault Samsung Motors is aiming to lead the nation’s engine-downsizing trend with the recent launch of the SM5 TCE, powered by a 1.6-liter turbocharged gasoline engine. It is the first time that a midsize sedan in Korea has been equipped with the smaller 1.6-liter engine. With emissions regulations tightening globally, carmakers have poured substantial resources into fuel-efficient vehicles that are no less powerful. Taking advantage of the Renault-Nissan alliance, the Korean unit of the France
IndustryJune 26, 2013
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SKT launches world’s fastest mobile network
Korea’s biggest mobile carrier SK Telecom announced on Wednesday that it had launched the first LTE-Advanced network in the world, with speeds twice as fast as the existing long-term evolution network.SKT has begun providing LTE-A service, becoming the first to commercialize among some 175 mobile carriers offering LTE networks in about 70 countries around the world, the company said. Twice as fast as the current LTE and 10 times faster than the 3G network, LTE-A makes it possible to download an
TechnologyJune 26, 2013
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Beloved brands
Coca-Cola, Apple and IBM became the world’s three most valuable brands for 2013, according to Interbrand’s annual Best Global Brands report. The three global companies were followed by Google and Microsoft. These brands can be as viewed the most beloved brands in the world. Among Korean brands, Samsung Electronics ranked ninth in the report. Hyundai Motor Co. and Kia Motors Corp. placed 53rd and 87th, respectively.Feel marketingKevin Roberts, CEO of the advertising agency Saatchi & Saatchi, once
June 26, 2013
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Sheaffer marks centennial milestone
PENSHEAFFERSheaffer, the world’s leading fountain pen manufacturer, commemorates its 100th anniversary this year, as it continues to expand its business worldwide and innovate its products.Celebrating the milestone, the U.S.-based luxury pen maker released limited editions ― 45 sets of the Sheaffer Centennial Solid Gold Fountain Pens, 516 Sheaffer Centennial Limited Edition Sterling Silver models and 1,913 Sheaffer Centennial Legacy Heritage Sterling Silver editions ― priced between 1.5 million
IndustryJune 26, 2013
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KB leads premium banking
PRIVATE BANKINGGOLD&WISE (KB)GOLD&WISE, the specialized private-banking brand of KB Kookmin Bank, has been the market pioneer since it was launched 11 years ago under the business philosophy of sincere professionalism to garner trust among premium customers.Through wide sales networks at the bank’s 23 private-banking-only branches nationwide, it has shown exceptional private-banking products, risk management systems, private-banking expertise and advisory and marketing services. It has strengthe
June 26, 2013
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Singapore Airlines unrivaled in service
Singapore Airlines has earned international recognition through unrivaled quality service that reflects the company’s commitment to innovation. The air carrier topped Business Insider’s “20 Best Airlines in the World” list this year and the “Best Airline for Premium Class Travel” for the first and business classes in 2012 by DestinAsian. It also won the industry’s top honors such as Fortune magazine’s “World’s Most Admired Companies, Top 50” and Skytrax’s Best Business Class and Cabin Staff awar
IndustryJune 26, 2013
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IBK introduces smart savings account
Bank, IBKThe Industrial Bank of Korea has come up with a new and smart savings account product that offers lucrative deposit rates for any consumer seeking to further save and manage earnings.The state-run commercial bank said that the product, named “IBK Shaking Savings” in Korean, allows consumers to create an account through their smartphones by downloading an app.They can also do so through social networking or messenger platforms such as Facebook or Kakao Talk, and join a group created by o
June 26, 2013
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Seoul shares little changed amid policy uncertainties
South Korean stocks closed almost flat after a choppy session on Wednesday, as no clear sign on the U.S.'s next move regarding their monetary policies added jitters to investor sentimentThe benchmark Korea Composite Stock Price Index (KOSPI) finished up 2.82 points, or 0.16 percent to 1,783.45. Trading volume was light at 292.4 million shares worth 4.04 trillion won ($3.49 billion) with gainers far outpacing decliners 610 to 216. "Investors are showing their distrust toward policies, especially
June 26, 2013
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Seoul shares down 0.1 pct in late-morning trade
South Korean stocks pared earlier gains to trade 0.1 percent lower late Wednesday morning, dented by losses of Samsung Electronics Co. The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.8 points to 1,778.83 as of 11:20 a.m. Top-cap Samsung Electronics slumped more than 2.5 percent, driving down the main index. The tech heavyweight accounts for about 17 percent of the KOSPI's total market cap. In contrast, other blue-chip exporters gathered ground, with Kia Motors, an automaker,
June 26, 2013
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Toyota to recall Prius vehicles for faulty brake system
Certain model year Toyota Prius vehicles will be recalled in South Korea for the vehicle's faulty brake system, the transportation ministry said Wednesday. A defect in the car's brake booster may lead to a significant increase in the braking distance, and thus jeopardize the safety of the vehicle, according to the Ministry of Land, Infrastructure and Transport. Subject to the recall are 130 Prius vehicles produced between Oct. 31, 2008 and Oct. 9, 2009. Free repair services will be provided f
IndustryJune 26, 2013
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SK Telecom launches world's fastest mobile network service
SK Telecom Co., the country's leading mobile carrier, introduced the next-generation mobile network on Wednesday, offering speeds twice as fast as the existing long-term evolution (LTE) network. SK Telecom is the first mobile operator in the world to launch the so-called LTE-Advanced network service, which is 10 times faster than the old 3G network service, it said. With the use of the LTE-Advanced network, an 800 megabyte file takes some 40 seconds to download, compared with 80 seconds with
TechnologyJune 26, 2013
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Seoul shares open higher on eased Chinese woes
South Korean stocks opened higher Wednesday as China's central bank announced Tuesday it may add more liquidity to the market amid worries that the economy there is slowing down, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 10.58 points, or 0.59 percent, to 1,791.21 in the first 15 minutes of trading.Tech blue chips gathered ground, with LG Electronics rising 2.3 percent and top chipmaker SK hynix adding 2.03 percent. Top flat panel maker LG Dispay gained 1.93 per
June 26, 2013
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Gov't to sell Woori Finance in 3 batches by 2014
The government said Wednesday that it plans to sell Woori Finance Holdings Co. in three batches by the end of next year, its fourth attempt since 2010 to recoup massive amounts of taxpayers' money, which were spent to save the country's largest banking group.The Financial Services Commission (FSC), the country's financial regulator, said it will put 14 units of Woori Finance up for sale in the three groups -- its mainstay Woori Bank, two regional banks, and other units including a brokerage hous
June 26, 2013
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Corporate direct financing drops 30 pct in May
Direct financing by South Korean companies sank 29.3 percent in May as firms refrained from raising money in sluggish stock and bond markets, the financial regulator said Wednesday.Local companies raised a total of 8.85 trillion won (US$7.60 billion) last month by selling stocks and bonds, compared with the 12.5 trillion won the previous month, according to the Financial Supervisory Service (FSS).In the first five months of this year, corporate direct financing dropped to 49.5 trillion won from
June 26, 2013
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Finance chief assures firms that regulations will be pruned
Deputy Prime Minister and Finance Minister Hyun Oh-seok said Tuesday that the government would retool and improve some of its regulations that may have eroded confidence and hindered business growth.Hyun met with leaders of Korea’s five business groups, including the Federation of Korean Industries, in a bid to ease concerns over the government’s push to tame unfair business practices and tax avoidance that may have increased tension in the industry.The minister of Trade, Industry and Energy and
June 25, 2013
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[Graphic News] Smartphone penetration rate
According to data compiled by Strategy Analytics, Korea had the highest level of smartphone ownership in the world last year backed by rising demand for the device and faster Internet networks.
TechnologyJune 25, 2013