Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Korea forecast to overtake Taiwan in chip production by 2032: report
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[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Yoon rebuffs opposition's call for special probe into wife
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Stray Kids hit with racism in Met Gala photo line
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[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
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Yoon apologizes for wife's 'unwise conduct'
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IT trade surplus widens on brisk exports in March
South Korea’s trade surplus in the information-technology sector widened from a year earlier in March as the growth of exports greatly outpaced that of imports, the government said Tuesday.The country chalked up a trade surplus of $7.02 billion last month as its outbound shipments of IT products surged 10.1 percent from a year earlier to $13.76 billion, according to the Ministry of Trade, Industry and Energy.Imports, on the other hand, gained only 2 percent on-year to $6.74 billion. The trade su
April 10, 2013
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Mobile takes business leaders into a new age
The era of the mobile enterprise has arrived. The use of those devices is now at a critical mass and it is just the beginning.Yet Gartner, a leading information technology research and advisory company, says few organizations plan and manage mobility with a truly strategic or proactive approach. They are mostly reactive and tactical.For enterprises, mobility should not be about the device. Instead, it needs to be about figuring out what an organization can do differently and better now that its
TechnologyApril 10, 2013
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SC Bank CEO leads social contributions
Richard Hill, chief executive of Standard Charted Bank Korea, has proven his leadership by harmonizing sustainable management with long-term corporate contributions to the local community, bank officials said. They said he has shown strong leadership in promoting both shared growth and social contributions to local communities to help the company develop sustainable growth. Hill joined Standard Chartered in January 2006 as chief financial officer in the financial group’s unit in Singapore. In Ja
April 10, 2013
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Face width linked to baseball skills: study
For male baseball players, having a wide face may mean they can hit more home runs, a new study suggested.Psychologists from the University of London looked at data concerning 104 Japanese professional baseball players, and found a correlation between the players’ facial width-to-height ratio and their batting power.The researchers analyzed the players’ game data in the 2011 and 2012 seasons, and compared it to the width of the players’ faces. They found that players with relatively wider faces
TechnologyApril 10, 2013
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‘Exercise genes,’ ‘lazy genes’ may exist: study
A study conducted by U.S. scientists claimed that certain genetic traits may induce people to be motivated to exercise and remain active. Researchers at the University of Missouri conducted an experiment in which they put rats in cage with a running wheel and observed how much each rat willingly ran on the wheels for six days.After the experiment, the researchers selected the top 26 runners and 26 slow rats and bred each group separately through 10 generations. When the “super runner” and “cou
TechnologyApril 10, 2013
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Seoul shares gain 0.77 pct on Chinese data
SEOUL -- South Korean stocks closed 0.77 percent higher Wednesday, buoyed by easing Chinese inflation data that offset heightening fears over North Korea's repeated war threats, analysts said. The local currency inched up against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 14.84 points to finish at 1,935.58. Trading volume was light at 312.4 million shares worth 4.08 trillion won (US$3.57 billion) with advancers far outpacing decliners 640 to 187. "A c
April 10, 2013
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Seoul shares up 0.62 pct in late-morning trade
South Korean stocks traded 0.62 percent higher late Wednesday morning, led by gains in steelmakers and chemical firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 11.96 points to 1,932.70 as of 11:20 a.m. Blue-chip local zinc smelter Korea Zinc soared more than 4 percent and leading chemical maker LG Chem jumped 3.2 percent. In contrast, defensive shares lost ground, with state-run gas provider Korea Gas Corp. falling nearly 2 percent. Top-cap Samsung El
April 10, 2013
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S. Korea prepared to take swift action to stabilize market amid growing N.K. risks: official
South Korea will keep up its monitoring on financial and economic conditions in order to swiftly respond to any eventualities amid deepening geopolitical risks from North Korea's continued war threats, a senior economic policymaker said Wednesday."The government will strengthen its monitoring on financial and economic developments, while keeping its efforts to stabilize sentiment among foreign credit appraisers and foreign investors,"said Eun Sung-soon, the head of the finance ministry's interna
April 10, 2013
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Hyundai, Kia recall over 160,000 cars in S. Korea
The country's top automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. have been ordered to recall over 160,000 cars for problems with brake light switches, the transportation ministry said Wednesday.The faulty light switch could stop the brake lights from illuminating even when drivers step on the brake pedal, but it can also cause the cruise control not to work properly, according to the Ministry of Land, Infrastructure and Transport.It may also cause the push-to-start button to fail
IndustryApril 10, 2013
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S. Korea to set up GPS jamming surveillance system
SEOUL -- Amid growing war threats from North Korea, South Korea plans to beef up its surveillance system against the North's provocative electronic jamming signals that have targeted civilian facilities in the past, sources said Wednesday. In addition to cyber attacks on South Korean networks, the North has been disrupting global positioning system (GPS) signals since 2010. GPS is a satellite-based navigation system widely used by planes, ships and vehicles.The latest attempt between April 2
TechnologyApril 10, 2013
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Seoul shares open higher on Chinese data
South Korean stocks got off to a strong start Wednesday, as Chinese inflation data overshadowed escalating tensions caused by North Korea's torrent of threats, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.94 points, or 0.31 percent to 1,926.68 in the first 15 minutes of trading. Brokerage houses and steelmakers drove up the shares, with KDB Daewoo Securities Co. spiking more than 4 percent and POSCO shooting up 2.5 percent. China's consumer prices rose 2.1 perc
April 10, 2013
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S. Korea's jobless rate falls to 3.5 pct in March
South Korea's jobless rate fell in March from a month earlier and job creation also picked up speed, raising expectations that labor market conditions might be rebounding from a slump, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 3.5 percent last month, down from the previous month's 4 percent, the highest since February last year. The jobless rate adjusted for inflation also declined to 3.2 percent last month from February's 3.5 per
April 10, 2013
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Won falls most after yen
The Korean won has fallen the most against the dollar among global currencies this year after the Japanese yen.The won lost more than 6 percent between January and April 8 this year, losing more of its value against the dollar than 28 other currencies including the euro, the British pound and the Canadian dollar, according to data by the Bank of Korea.The Philippine peso shed 0.70 percent, and Malaysian ringgit 0.07 percent, one of the lowest falls against the dollar among Asian currencies, whic
April 9, 2013
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Yongsan liquidation to lead to massive lawsuits
Following state-run rail operator KORAIL’s decision to quit the faltering Yongsan development project, investors and residents are moving to lodge compensation suits against the company or the project developer.KORAIL, the largest shareholder of the project financing vehicle Dream Hub, resolved Monday to liquidate the massive redevelopment project, after its self-rescue plan had been rejected earlier by other private shareholders.The greatest victims of the project fallout are the residents of Y
April 9, 2013
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[Newsmaker] SMEs in Gaeseong fall victim to tensions
Small and mid-sized South Korean companies running factories in the sole inter-Korean industrial complex in the North’s border city of Gaeseong are being hit hardest by the stoppage of their production lines in the industrial park.About 53,000 North Korean factory workers did not come to the complex Monday following the North’s announcement that it temporarily suspended Gaeseong’s operations. The move added pressure on SMEs doing business in the Gaeseong complex, together with a weeklong ban on
IndustryApril 9, 2013
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[Graphic News] Baby boomers have highest economic participation rate
The economic participation rate of the 50-59 age group soared to 73.8 percent in 2012, the highest rate since 2000, data showed Tuesday. The rate was 73.1 percent in 2011 and 72.7 percent in 2010. According reports from the Korea Exchange and Statistics Korea, however, the economic participation rate of the so-called “baby boomer generation” of those born between 1955 and 1963 is expected to abruptly decline as they will soon reach retirement age. The baby boomers make up about 14 percent of the
April 9, 2013
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Wages for Gaeseong workers to be delayed
More than 120 South Korean companies operating in Gaeseong industrial park are unlikely to be able to pay their North Korean workers as Pyongyang continues to block entry of vehicles from the South.The 123 South Korean firms have paid North Korean employees’ salaries in cash on the 10th of each month.They usually withdraw money from Woori Bank, which operates in Gaeseong, to transfer it to the North’s Central Special Direct General Bureau, which manages the industrial park.“(South Korean) firms
IndustryApril 9, 2013
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Banks told to roll over Gaeseong firms’ loans
South Korea’s financial regulator said Tuesday that it has instructed commercial banks to roll over their loans issued to companies operating at the inter-Korean Gaeseong Industrial Complex.The Financial Supervisory Service’s regulatory policy came after North Korea suspended operations of the complex by withdrawing most of its workers in the North’s border city between Monday and Tuesday.“In a bid to minimize losses to South Korean companies operating in Gaeseong, banks will abstain from retrie
April 9, 2013
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Encouraging international business of SMEs
There has been considerable discussion time devoted throughout the economic downturn to the importance of small and medium enterprises to the global economy. They account for more than 30 percent of U.S. merchandise exports, and generate over 50 percent of the added value created by EU businesses. In parallel, a World Economic Forum report released at Davos revealed that if countries went halfway toward the best global practices in reducing their supply chain barriers, global GDP could increase
BusinessApril 9, 2013
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[Photo News] Italian premium brand launch
IndustryApril 9, 2013