Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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KHNP seeks shared growth with SMEs with new buying system
Korea Hydro & Nuclear Power Co., the state-run nuclear power plant operator, recently announced a plan to accelerate sustainable growth. The move is in line with the government’s ongoing efforts to promote shared growth with small-and medium-sized enterprises.KHNP said it had started with reorganizing and expanding related departments and was working to enhance technical competence and reform its purchasing methods.The company has come up with several measures to improve small firms’ cashflow. L
BusinessMay 7, 2013
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Chaebol search for new business areas
South Korean conglomerates are facing a crisis of stagnant growth, squeezed by falling domestic demand and a prolonged global economic downturn. The chaebol are actively searching out new business beyond their core to survive. According to FnGuide, a local financial information provider, about 63 percent of 41 companies listed on the main stock bourse posted an on-year drop in their first-quarter operating profit. “Aside from those in such areas as electric, electronics and pharmaceuticals, cong
BusinessMay 7, 2013
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Booyoung to upgrade residential environment in Cambodia
PHNOM PENH ― Booyoung Group, the nation’s 19th-largest conglomerate and one of the leading house builders, has launched a project to build the largest-ever urban complex in Phnom Penh, Cambodia.The company held on Tuesday the groundbreaking ceremony for Booyoung Town I, a comprehensive commercial and residential town including high-rise buildings, sports centers and schools.The event was attended by Booyoung Group chairman Lee Joong-keun, Cambodian Land Minister Im Chhun Lim, Korean Ambassador K
May 7, 2013
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AmorePacific’s Hope Store campaign marks 10th year
AmorePacific this week announced it would launch a campaign to mark the 10th year anniversary of its program to support female bread-winners of underprivileged families. The cosmetics company is receiving donations for the program, both on and off-line, until June 28, for its “Hope Store.” Online, the website http://makeupyourlife.amorepacific.com is open for all, while AmorePacific also will operate separate zones at their nationwide branches where people can drop by to show their support. The
IndustryMay 7, 2013
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Regulators boost oversight of banks, overly indebted firms
By Park Hyong-kiFinancial regulators plan to toughen oversight of conglomerates that have excessively borrowed from their creditor banks to avert another possible STX or Woongjin-style credit crunch in the industry.The Financial Supervisory Service, the regulatory enforcement agency of the Financial Services Commission, also plans to strengthen its supervision of banks that allowed conglomerates to overleverage their positions without proper evaluation of their balance sheets.This comes after ST
May 7, 2013
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Would you subscribe to YouTube’s paid channels?
The word is out again. Google-owned online video giant YouTube is reportedly close to launching its paid channels as early as this week.YouTube said it is “looking into creating a subscription platform that could bring even more great content to YouTube.”Foreign press reported that if the new subscription system goes into effect, there will be as many as 50 paid channels offering different topics such as films, TV shows or music for a subscription fee as little as $1.99 a month.Since 2008, YouT
TechnologyMay 7, 2013
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Nearsightedness hereditary: study
Many problems with eyesight can be traced to genetic conditions, South Korean researchers said in a new study on Tuesday. Professor Chung Eui-sang and his colleagues from Samsung Medical Center conducted the study on 240 identical twins and 45 fraternal twins and 469 pairs of siblings who had visited the hospital from 2007 to 2011.They found that identical twins who share many of their genes showed a high level of consistency in their eyesight. When one monozygotic twin is nearsighted, the other
TechnologyMay 7, 2013
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Facebook to add video ad to newsfeed
Social network Facebook is set to present a new video ad solution in its newsfeed starting from July to increase revenue. The move, which came after its shares lost ground last year, is aimed at carving out a share of the video ad budget of major advertisers. Spending on digital video ads is expected to grow by 41.4 percent from 2012 to hit $4.1 billion in 2013. The new type of ads will start automatically on the user’s newsfeed without any sound at first. The user will have to press the play bu
TechnologyMay 7, 2013
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Seoul shares down 0.36 pct ahead of BOK meeting
South Korean stocks closed 0.36 percent lower Tuesday as investors took a wait-and-see approach ahead of the central bank's monetary policy meeting slated for Thursday, analysts said. The local currency gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 7.13 points to finish at 1,954.35. Trading volume was low at 295 million shares worth 3.5 trillion won (US$3.2 billion) with gainers outnumbering decliners 437 to 368. "Seoul shares traded lower as in
May 7, 2013
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Nikkei index closes up 3.55% to highest in nearly 5 years
Tokyo stocks soared Tuesday, closing at their highest level in almost five years with the market driven by a weakening yen and after Wall Street hit fresh all-time highs on solid jobs data.The benchmark Nikkei 225 index added 3.55 percent, or 486.20 points, to 14,180.24, its best finish since June 2008, while the broader Topix index of all first-section shares was up 3.06 percent, or 35.29 points, to 1,188.57.Japan's premier bourse has rocketed since late last year as Tokyo pledged to boost the
May 7, 2013
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Children having ‘adult’s diet’ healthiest: study
Children who tend to eat the same food as their parents are found to have a healthier diet than other children, a study found. The University of Edinburgh conducted a study on about 2,200 5-year-olds to look at their eating habits, and discovered that when children were allowed to eat what they want, the majority of them asked for high-calorie, low-nutrition foods such as pizza and chips.“Offering separate children’s food for a main meal may result in children missing out nutritionally, for exam
TechnologyMay 7, 2013
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Seoul shares down 0.36 pct in late-morning trade
South Korean stocks traded 0.36 percent lower late Tuesday morning on losses in techs and foo producers, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) moved down 7.11 points to 1,954.37 as of 11:20 a.m. Tech blue chips led the decline, with market behemoth Samsung Electronics falling 1.06 percent and top chipmaker SK hynix moving down 1.21 percent. Leading flat panel manufacturer LG Display shed 1.53 percent. Food companies also traded lower, with leading foodmaker
May 7, 2013
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Analysts split over BOK's May rate decision
Analysts are divided over whether South Korea's central bank will cut the key interest rate for May, but more experts are betting on a rate freeze, citing prospects for the economic recovery, a poll showed Tuesday.Out of 23 analysts, 12 experts predicted that the Bank of Korea (BOK) will freeze the benchmark seven-day repo rate at 2.75 percent for the seventh straight month on Thursday, according to a survey by Yonhap Infomax, the financial news arm of Yonhap News Agency.The remaining 11 analyst
May 7, 2013
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Seoul shares open lower on weak momentum
South Korean stocks opened lower on Tuesday due to weak growth momentum on the local market, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.01 points, or 0.2 percent, to 1,957.47 in the first 15 minutes of trading.Tech shares traded bearish, with market behemoth Samsung Electronics falling 0.92 percent and top chipmaker SK hynix losing 0.69 percent. LG Electronics moved down 0.35 percent.Carmakers also lost ground, with No. 1 industry player Hyundai Motor falling 1.
May 7, 2013
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Samsung responsible for recent hydrofluoric acid leak: gov't
Samsung Electronics Co. is partly responsible for last week's highly poisonous hydrofluoric acid leak at its main chip plant in southwestern South Korea, a government official said Tuesday.For the second time in just three months, a small amount of diluted hydrofluoric acid, a colorless acute poison that can damage the lungs and bones and even affect the nervous system, leaked at the semiconductor plant in Hwaseong, 60 kilometers south of Seoul, on Thursday, injuring three subcontract workers.Af
IndustryMay 7, 2013
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Korean banks eye Asian riches
As the nation’s low interest rate has contracted their profits, Korean banks are targeting rich people in Southeast Asia and China as new income sources.Hana Bank and the Industrial Bank of Korea are the frontrunners in the trend.Hana Bank launched its first Indonesian private banking center in Jakarta on May 2, in addition to its private banking centers in China and Hong Kong.The Jakarta center has one Korean manager with 10 years’ experience in private banking at home and is a certified financ
May 6, 2013
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[Graphic News] IPTV subscribers surpass 7m mark
The number of Internet Protocol television subscribers surpassed 7 million on Friday, according to the Korea Digital Media Industry Association.Since its first appearance in January 2009, the IPTV penetration rate has been faster than any other paid TV broadcasting such as cable TV and satellite broadcasting. It took eight years for cable TV to pass 7 million subscriptions and nine years for satellite broadcasting to reach 3 million. Analysts said the fast rise in IPTV subscriptions is largely t
May 6, 2013
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[Power Korea] Strategic infrastructure development behind Korea’s economic success
The Korea Herald is publishing a series of articles on infrastructure as part of its second installment of Power Korea. Korea’s success story is a 60-year-old tale written by not one, but many who worked to build one of the world’s most powerful nations from the ashes of war. This series features the development and global competitiveness of Korea’s infrastructure. The special articles were made in cooperation with the Ministry of Land, Infrastructure and Transport. This is the first part of the
May 6, 2013
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Korea to export infrastructure development know-how
Korea will eye overseas infrastructure development projects, armed with local experience and know-how accrued over the past half century, the nation’s chief construction policymaker said. “Korea is one of the few countries that have risen from recipient to donor in just half a century,” Land, Infrastructure, and Transport Minister Suh Seoung-hwan said in a written interview with The Korea Herald. “This rapid growth largely took place in line with strategic infrastructure development, a model whi
May 6, 2013
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Nine public financial firms pay better than Samsung
State-run financial companies under the management jurisdiction of the Financial Services Commission are reemerging as firms that offer the best-paying jobs of any industry.Employees at nine public financial companies of the regulatory body received an annual monthly salary of some 87 million won ($79,500) on average last year, more than the average 70 million won at Samsung Electronics, Korea’s biggest company listed on the stock market, according to a public disclosure filing.The nine are Kore
May 6, 2013