Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Golden chance to liquidate babies’ gold rings?
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Apple aims for simpler look to iOS 7
CUPERTINO, Calif. -- Software and hardware units at U.S. technology company Apple are now working more closely together, sources told The Wall Street Journal. In the past, Jonathan Ive, the executive behind the sleek look of Apple‘s hardware, has had his own software development team create proxy operating systems that are used in the design phase of a new product. The team developing the software that will end up in the product in stores, however, has been working on software without even k
TechnologyMarch 24, 2013
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Researchers looking to create human heart
Medical researchers in Spain say they are close to being able to grow human hearts for transplants outside the body.Doctors have already grown and transplanted a number of human organs, including windpipes, ears, tear ducts and an artery, The Wall Street Journal reported Friday.Now, they want to recreate a heart. Researchers in Spain say although the country has the highest number of organ donors in the world, only about 10 percent of patients in need of a new heart get one.Dr. Francisco Fernand
TechnologyMarch 24, 2013
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S. Korea's new finance minister cautious on adopting Tobin tax
South Korea's new finance minister said Saturday that it needs to be cautious of adopting the so-called Tobin tax, indicating that such a measure could trigger a capital outflow. The South Korean government said earlier that the country may move to tighten its regulation on capital flows in and out of the country amid worries that growing volatility in the currency market could hurt the country's overall economic stability. As part of the new measures, the government said it is considering i
March 23, 2013
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Seoul shares to rebound on eased eurozone woes
South Korea's stock market is expected to rebound next week as concerns over the eurozone crisis ease and a series of stimulus measures set to be revealed boost investor sentiment here, analysts said Saturday. The country's key stock index, the KOSPI, dropped 1.9 percent this week to close at 1,948.71 on Friday, weighed down by an escalating fiscal problem in Cyprus and a cyber attack on several media outlets and banks. Standard & Poor's, a global credit appraiser, slashed Cyprus's soverei
March 23, 2013
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Toyota to lift domestic output due to weak yen: report
Toyota Motor plans to raise domestic production during the April-September period by about 10 percent from its earlier estimate thanks to the recent weak yen, it was reported Saturday. Toyota has already revised up planned output for April and May by 10 percent to between 13,000 and 13,500 vehicles a day and it now intends to keep production at that level through to September, the Nikkei business daily said. The weakening Japanese currency is seen pushing up exports of the Corolla and Priu
IndustryMarch 23, 2013
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Esquire editor’s comments spark ’sexist’ row
Controversial remarks by an editor from men’s Esquire magazine drew furious responses from women around the world.Alex Bilmes, the editor for the magazine’s British edition, expressed his opinion on how Esquire produces content featuring women.“The women we feature in the magazine are ornamental, that is how we see them,” he said at the Advertising Week Europe conference. “I could lie and say we are interested in their brains as well but on the whole we‘re not, they are there to be a beautiful o
IndustryMarch 23, 2013
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Bank customers seek cyber crash damages
Korean consumer activist groups are looking to arbitrate with local banks attacked by malware on March 20 to seek compensation for consumers who may have suffered losses from the latest nationwide network crash.The Financial Consumer Agency and Korea Financial Consumer Federation are joining forces to hear consumer concerns even though Shinhan Bank and Nonghyup have restored most of their systems since the cyber attack.They plan to negotiate on behalf of consumers, but will file a class action l
March 22, 2013
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KB Financial OKs outside directors
KB Financial Group management has averted a revolt among foreign shareholders over its business policies.The voting result at the annual shareholder meeting of KB Financial, which was held Friday, showed that its management successfully dispelled misunderstandings of foreign shareholders, who hold a 65 percent stake in the group. Though some had raised the possibility that the majority of its shareholders could cast dissenting ballots against the reappointment of KB Financial’s outside directors
March 22, 2013
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Hyundai tightens shipping unit control
Shareholders of Hyundai Merchant Marine, the nation’s No. 2 shipping firm, approved a controversial plan Friday to increase the limit of preferred shares it can issue, despite opposition from the second-largest shareholder, Hyundai Heavy Industries.The approval means that Hyundai Group, HMM’s largest shareholder, is expected to tighten its control over the shipping company in financial trouble, as it will be able to sell the preferred shares to a third party to secure funds, industry analysts sa
IndustryMarch 22, 2013
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Hyundai Motor chief stresses eco-friendly cars
Hyundai Motor Group chairman Chung Mong-koo on Friday pledged to nurture the Kia brand into a more competitive global player through additional investment, especially for environment-friendly vehicles.During a shareholders’ meeting on Friday in Seoul, Kia Motors set this year’s sales target at 2.75 million vehicles globally, up 300,000 from last year.“The business environment will be tough both in Korea and abroad this year. We will continue brand innovation through quality products,” Chung said
IndustryMarch 22, 2013
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FSC chief Shin vows to overhaul financial groups
Financial Services Commission chairman Shin Je-yoon pledged to revamp the governance structure of major financial groups during his inaugural speech on Friday.Though the system which puts financial firms under management of their parent financial holding companies was introduced 12 years ago, it has yielded a variety of problems, said the new chief financial regulator.Shin stressed that financial authorities are set to overhaul details in the financial groups, such as Woori, KB, Shinhan and Hana
March 22, 2013
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Korean Air to create holding company
Korean Air Lines Co., South Korea’s top air carrier, said Friday it has decided to create a holding company in coming months, a move that it says will enhance transparency of its corporate governance.The decision, reached at the company’s board of directors meeting earlier Friday, calls for splitting the company into Hanjin KAL Holdings and Korean Air.The airline said the process of creating a parent company is set to be completed in Aug. 1, and the holding company plans to raise its stake in Ko
IndustryMarch 22, 2013
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Jaguar’s design chief to visit Seoul next week
Jaguar’s design chief Ian Callum will make his first visit to Korea next week to unveil the much-anticipated two-seat sports car F-Type during the Seoul Motor Show, Jaguar Land Rover Korea said Friday. The top car designer, who will be accompanied by Land Rover’s design studio director David Saddington, plans to hold a special design session to discuss the British carmaker’s design philosophy at the motor show’s media preview on March 28. Callum took office as the design chief for Jaguar in 1999
MobilityMarch 22, 2013
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Hospital to display 'mystery skeleton'
A skeleton stored away for decades in a closet at an Iowa hospital set to be demolished will be sent to the University of Iowa Medical Museum, officials said.Suzie Wood, executive director of development at Ottumwa (Iowa) Regional Health Center, said crews discovered the skeleton in a basement closet while cleaning out the 88-year-old facility last year in preparation for its upcoming demolition. The skeleton -- dubbed "Mr. Bones" -- is believed to have been stored there for 70 to 80 years, the
TechnologyMarch 22, 2013
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Seoul shares down 0.11 pct on eurozone woes
South Korean stocks closed 0.11 percent lower Friday due to rising concerns over the eurozone fiscal crisis, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.11 points to 1948.71. Trading volume was low at 244 million shares worth 3.28 trillion won (US$2.94 billion), with gainers outnumbering decliners 426 to 370."While investors are taking a wait-and-see stance on the recovery of the U.S. economy, the crisis in the eur
March 22, 2013
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Lightest material on Earth created: scientists
Scientists at Zhejiang University in Hangzhou, China, claimed they have developed the lightest solid material on Earth that can balance on top of a flower. The material, called "graphene aerogel," is a combination of freeze-dried carbon and graphene oxide, weighing only 0.16 mg per 1 cubic centimeter. The graphene, hailed as a "wonder material," was first developed by Russian-born physicists working at the University of Manchester, who managed a 1-atom-thick graphene flake by continuously peelin
TechnologyMarch 22, 2013
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Seoul shares open lower on Cyprus woes
South Korean stocks opened lower Friday as investors took a wait-and-see stance due to the rising concerns over the eurozone economy following an aborted rescue plan for Cyprus, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed 3.99 points, or 0.2 percent, to 1946.83 in the first 15 minutes of trading. Carmakers traded lower, with No. 1 industry player Hyundai Motor losing 0.47 percent, and its smaller affiliate Kia Motors moving down 0.18 percent. Top auto parts make
March 22, 2013
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‘Chinese IP used in cyber attack’
The unprecedented cyber attack that crashed the computer networks of major South Korean broadcasters and banks Wednesday used malicious codes from China, Seoul’s investigators said on Thursday, raising suspicions that North Korea may be behind the attack. The Korea Communications Commission said the malware codes from an Internet protocol address in China were found to be the cause of the cyber attack on KBS, MBC and YTN, and the three banks including Shinhan.A total of 31 servers and 32,000 PCs
IndustryMarch 21, 2013
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[Graphic News] Government agencies most common target of cyber attacks
Government agencies and public institutions have been more exposed to cyber attacks than any organization in the private sector, a study showed.The private Financial Security Agency said Thursday that the number of daily responses to cyber attacks from government and public organizations in 2011 was an average 20.5 times.The financial sector, which was a target of Wednesday’s hacking attack, also responded 11.8 times on a daily basis to Advanced Persistent Threats. APT is a type of targeted cybe
March 21, 2013
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Hackers used diverse methods
The latest nationwide hacking attack on Korea appears to have conspired via a wide assortment of methods, including the distribution of malicious spamware and seizing data servers. Network software at some of the hacking targets also was damaged after the culprits targeted the more vulnerable aspects of the software. The broadcasters, for instance, suffered damages to the boot sector of their operating systems, while the databases at banks such as Shinhan and Nonghyup malfunctioned because of at
TechnologyMarch 21, 2013