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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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Samsung mobile chief, Google device head meet in Seoul
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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No two chaebol are alike, author says
While Koreans’ rising presence on the global stage is hard to ignore, how to do business with them as a non-Korean is an increasingly tricky area little covered in English-language literature. Don Southerton explores the niche with his recently published book “Korea Facing: Secrets for Success in Korean Global Business,” which picks apart how to work with a Korean conglomerate from the ground up, for non-Koreans working in Korean branches overseas.“Over the years I witnessed firsthand cross-cult
BusinessApril 8, 2013
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Samsung’s Lee, Kumho’s Park meet Xi Jinping at Boao Forum
Samsung Electronics Co. vice chairman Lee Jay-yong and Kumho Asiana Group chairman Park Sam-koo met with Chinese President Xi Jinping at the ongoing Boao Forum for Asia on Monday. They were two Koreans who participated in a breakfast meeting hosted by the Chinese president for 19 foreign business leaders. At the meeting, Xi appreciated investments made by foreign-based companies and promised to ease regulations for their business in the Chinese market. On Sunday, Lee, the only son of Samsung Ele
IndustryApril 8, 2013
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Cho to head GroupM Korea
GroupM, a global media agency, has appointed its COO Cho Seon-koog to head its Korean unit, company officials said Monday.The company is a leading global media investment and management operating firm. Cho joined GroupM last summer as COO and has worked on developing and growing Korean operations of four agencies within GroupM ― Maxus, MEC, Mediacom and Mindshare. “As a leading international media agency in Korea, GroupM has the ambition and commitment to derive further growth and expansion for
April 8, 2013
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Major Korean community website attacked by hackers
An international hacking group is rumored to have attacked “Ilgan Best,” one of South Korea’s biggest online communities.Ilgan Best (Ilbe.com) is a humor-centered community website, producing jokes and political viewpoints. According to reports by local media, Ilgan Best came under a distributed denial-of-service, or DDoS, attack early Monday, which limited access to the site.Soon after the attack, pundits began to speculate that Ilgan Best had been attacked by Anonymous, an international hacker
TechnologyApril 8, 2013
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‘Life elements may be abundant on Jupiter’s moon’
Jupiter’s moon Europa might be rich in energy sources necessary for life, a new discovery by U.S. researchers indicated.Researchers from NASA’s Jet Propulsion Laboratory and California Institute of Technology said there is an ample amount of hydrogen peroxide on the ice-covered moon, citing the results of an infrared observation of Europa.According to the researchers, the oxidants on the surface can potentially mix with Europa’s presumed subsurface water sources, providing chemical elements and
TechnologyApril 8, 2013
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S. Korean exports forecast to recover in Q2
South Korean exports will likely recover in the second quarter of the year on the back of a mild upturn in the major economies such as the United States and China, a poll showed Monday.The index measuring the country's exports for the coming months came in at 54.1 for the second quarter of the year, up 2.3 points from the previous quarter, according to the survey by the Korea Trade-Investment Promotion Agency (KOTRA).The figure marked the highest result since the third quarter of 2011.The index
April 8, 2013
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Seoul shares open lower on U.S. losses
South Korean stocks got off to a weak start on Monday, tracking losses on Wall Street in the previous trading session sparked by weak job data, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 4.77 points, or 0.25 percent, to 1,922.46 in the first 15 minutes of trading.Shares lost ground across the board, with top chipmaker SK hynix falling 0.88 percent and No. 1 carmaker Hyundai Motor losing 0.25 percent. Leading steelmaker POSCO moved down 0.32 percent.U.S. stoc
April 8, 2013
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Samsung heir meets Chinese leader in Boao Forum
Samsung Electronics Co. vice chairman Lee Jae-yong met with Chinese President Xi Jinping at the ongoing Boao Forum for Asia, sources said Sunday.Lee, the only son of Samsung Electronics Chairman Lee Kun-hee, took part in a session where the Chinese leader greeted the 15 board members of the annual forum that is noted as Asia's "Davos Forum," according to the sources who requested anonymity.The younger Lee was recently named as a new board member of the regional forum, succeeding SK Group Chairma
IndustryApril 7, 2013
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S. Korea to announce new railway projects within H1
South Korea plans to map out new railway projects to create jobs and expand its presence in the global railway market in the first half of this year, the transport ministry said Sunday.The Ministry of Land, Infrastructure and Transport said the new railway projects will include the localization of Korea Train Express (KTX)-II, or "KTX-Sancheon" that can run at a speed of up to 300 kilometers per hour as well as exports of urban railways. The projects will be focused on job creation, the improvem
April 7, 2013
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Seoul Motor Show closes with record visitors
GOYANG, South Korea (Yonhap News) – The annual Seoul Motor Show closed with a record 1.05 million visitors coming to see exhibitions by leading automakers from home and abroad, organizers said Sunday.More than 1 million visitors came to the 11-day event that showcased 15 futuristic concept cars as well as 36 environmentally friendly cars such as hybrid and electric vehicles, according to the organizers.A total of 384 companies from 14 countries took part in the event which boasted the largest ex
IndustryApril 7, 2013
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Koreans most eager to replace mobile phones
Koreans were found to be the most eager in the world to replace their mobile phones, according to data on Sunday.More than two thirds, or 67.8 percent, of Koreans bought new products last year, U.S.-based market researcher Strategy Analytics said. Chile came second with 55.5 percent, followed by the United States with 55.2 percent and Uruguay with 53.6 percent, while Bangladesh ranked at the bottom with 8.4 percent.Strategy Analytics forecast that the replacement figures complied for Korea will
IndustryApril 7, 2013
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[Graphic News] Economic slump takes toll on online sales
The global economic slump appears to be taking a toll on local internet shoppers, with online sales posting a record-low monthly growth since the government first started to compile the data, Statistics Korea said.Internet shopping sales declined by 2 percent in February from the same period last year to record the lowest monthly growth figure since 2009, the agency said. In January that year, monthly internet sales fell 1.8 percent. For the year, sales increased by 15.1 percent from 2008, addin
IndustryApril 7, 2013
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Samsung chairman returns from brainstorming trip
All eyes are on the new business roadmap anticipated to be drawn up by Samsung Electronics’ chairman Lee Kun-hee upon his return to the country following a three-month leave that began in January.The chief of the country’s top conglomerate is known for embarking on such self-imposed pilgrimages ahead of making big decisions for coping with challenges facing the company. This time, the challenge will consist of how to tackle the sluggish global economy and further ramp up flagship Samsung Electro
IndustryApril 7, 2013
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Korean shares expected to rebound
The Korean stock market is expected to rebound as its fundamentals remain untouched despite increasing threats from North Korea.Also, Korean shares will pick up after bearish trading last Friday on the Bank of Japan’s easy-money policy, as the country is set to follow up on its stimulus measures soon, analysts suggested.“We expect to see share prices stay low in the beginning of the week and pick up towards the end of the week,” said Kwak Joong-bo, an analyst at Samsung Securities.“The Bank of K
April 7, 2013
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Economic recovery lags predictions: KDI
The Korean economy is likely to recover slower than expected, despite slight improvements in demand and exports, the state-run Korea Development Institute said on Sunday.The KDI report said that industrial production continued to show weak performance between January and February this year, with February’s data showing a 0.8 percent decline from in January.Facility investment declined as well, indicating that manufacturers are striving to cut costs to further offset their first quarter slowdown.
April 7, 2013
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Material firm eyes world with heat technology
A hidden champion is setting a model example in the local material industry, with its original technology in heat radiant material and patent-focused business strategies.Green & Carbon Solutions, a local small-sized enterprise, currently possesses some 30 local and global patents in the manufacturing and processing of carbon-based thermal substances.Its key technology involves graphene, a novel material which, with its light weight and high heat conductivity, is often used as heat control layers
IndustryApril 7, 2013
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Ministries to invest more in nano technology
In a bid to implement the slogan of creative economy and to boost inter-department cooperation, the government pledged to step up its support for a comprehensive nano technology research and business development project.The Ministry of Trade, Industry, and Energy, together with the Ministry of Science, ICT and Future Planning, will invest a total of 15.3 billion won ($13.5 million) this year into the Nano Tech 2020 business, officials said Sunday.The joint project kicked off last year to offer f
IndustryApril 7, 2013
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SK Group keeps celebrations for 60th anniversary low-key
SK Group is keeping a low profile for its 60th anniversary celebrations as its owner Chey Tae-won is currently awaiting a appellate court appearance on Monday.The country’s third-largest conglomerate is planning to hold a small, quiet ceremony at its SK Academy in Yongin, Gyeonggi Province, on Monday, ahead of Chey’s trial scheduled for 2 p.m. on the same day.The ceremony will be attended by Kim Chang-geun, chairman of SK’s top decision-making body SUPEX Council, SK Innovation vice chairman Koo
IndustryApril 7, 2013
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Northeast Asia’s sovereign risks grow on N.K. threats
Sovereign risks of Northeast Asian economies ― South Korea, Japan and China ― are increasing as North Korea ratchets up its threats against the allied forces of South Korea and the U.S.This heightened regional tension may further drive local stocks and currency to spiral downward going forward as North Korea’s unpredictable bellicose action is undermining investors’ sentiment, analysts said.South Korea, given its closest proximity to the North, has seen its sovereign risk on state bonds measured
April 7, 2013
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Foreign businesses watch N.K. tension
Is Korea, the world’s 14th largest economy celebrated for its hard-working people, now unsafe to do business in? That was undoubtedly the question that popped up at many a corporation, especially multinational companies with offices here, as tension escalated between the two Koreas, possibly to dangerous levels.So far, the answer is “no,” according to multiple industry sources. “Look, geopolitical or political risks alike, there are always going to be regional risks when we do business abroad, a
IndustryApril 7, 2013