Most Popular
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Debate rages over ‘overly fatty’ samgyeopsal
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[Weekender] Korean psyche untangled: Musok
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40 flights canceled on Jeju Island due to bad weather
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Missing S. Korean traveler in Paris found safe after 2 weeks
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Defense chiefs of US, Australia, Japan decry NK-Russia military cooperation
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Pandemic left Korea more depressed than before: report
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Telecoms slapped with more fines for smartphone subsidies
The Korea Communications Commission imposed additional fines amounting up to 5.3 billion won ($4.77 million) on the country’s three telecoms for providing excessive and illegal smartphone subsidies despite its previous punishments.The state telecom regulator said that it will have SK Telecom pay up another 3.14 billion won and also granted fees of 1.61 billion won and 560 million won to KT and LG Uplus, respectively.“It’s a real shame that the market spiced up immediately after we impose strict
IndustryMarch 14, 2013
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KORAIL seeks to downsize Yongsan project after default
After defaulting on its business loan interest payment, Dream Hub is struggling to resucitate the moribund Yongsan development project by mobilizing all possible means. Dream Hub, the project financing vehicle, plunged into loan default on Wednesday as it failed to pay back 5.2 billion won ($4.7 million) in interest on its asset-backed commercial paper.KORAIL, the state-run rail operator and greatest shareholder in Dream Hub, is gesturing to nevertheless carry forward the project by taking on ad
IndustryMarch 14, 2013
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ITC delays Samsung-Apple decision again
A U.S. trade agency has once again delayed its decision on the high-profile patent war between Apple and Samsung, this time based on considerations of how much consumers and the U.S. economy would be hurt should it ban imports of Apple’s iPhones and iPads over a patent held by Samsung Electronics. The U.S. International Trade Commission in Washington was scheduled to issue a final decision in Samsung’s patent infringement case yesterday. Instead, it asked for comments on how a ban would affect t
TechnologyMarch 14, 2013
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KLM takes steps in sustainable flights
KLM Royal Dutch Airlines started weekly flights using sustainable biofuel last Friday, company officials said. The series of biofuel flights will be made every Thursday from John F. Kennedy Airport in the United States to Schiphol in the Netherlands. The sustainable fuel will be obtained from used cooking oil, according to the company. As cooperation and joint effort between related industries are crucial for the future of sustainable biofuel in the aviation industry, this initiative means a lot
IndustryMarch 14, 2013
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Hyundai-Kia to hire 10,000 workers through suppliers
Hyundai Motor Group, which owns the Hyundai and Kia brands, said Thursday that it would hire an additional 10,000 workers indirectly through its suppliers and their subcontractors this year. As part of the efforts, the Korean auto giant kicked off a two-day job fair on Thursday in Seoul for its 430 smaller partner companies. About 20,000 job-seekers are expected to visit the exhibition floors of COEX in southern Seoul. The second annual event also will be held in Gwangju and Daegu in the coming
IndustryMarch 14, 2013
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Korea-U.S. FTA key to achieving economic goals of both nations
Following is the third and last in a series of articles featuring the Korea-U.S. Free Trade Agreement which marks the first year after its effectuation on March 15, 2012. ― Ed.This year is a special year for the American Chamber of Commerce in Korea for two reasons. Established in 1953, we celebrate our 60th anniversary this year. Today also marks the first anniversary of the implementation of the Korea-U.S. Free Trade Agreement. Over the years, AMCHAM has helped bring about some important chang
March 14, 2013
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Honda recalls 250,000 vehicles for braking problem
Honda is recalling nearly 250,000 vehicles worldwide for brakes that can suddenly kick in even when the driver isn't braking. No crashes have been reported related to the defect. Honda Motor Co. said Thursday it was recalling more than 183,000 vehicles in the U.S., including the Acura RL, Acura MDX and Pilot models. More than 56,000 vehicles were recalled in Japan, affecting the Odyssey, Legend, StepWgn and Elysion models. Also being recalled are nearly 8,000 vehicles in Canada, nearly 1,000 in
IndustryMarch 14, 2013
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Hybrids’ fuel savings payoff takes 10 years
Kim Min-kyu, a 35-year-old TV producer, recently purchased a Toyota Prius, the world’s best-selling hybrid. Despite the price being almost double that of same-size Korean brand cars, he feels good about his fuel savings. “I actually didn’t like the futuristic car design but its fuel efficiency rating was more appealing to me. It’s also cool to be seen driving a hybrid,” he said.Amid high gasoline prices, a growing number of Korean drivers, like Kim, are turning to more fuel-efficient vehicles, s
IndustryMarch 14, 2013
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Men and women smoke for different reasons
Men tend to smoke for fun while women light up to relieve stress, a survey revealed.The survey, commissioned to mark “No Smoke Day” in Britain, showed that 56 percent of the male respondents smoke when they hang out with friends, higher than 48 percent of female smokers.“This is surprising, particularly in the modern day and could be indicative that women potentially attribute an element of shame to their smoking behavior,” said Jo Hemmings, a behavioral psychologist.The research also showed tha
TechnologyMarch 14, 2013
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Department stores shuffle high-end cosmetics shops
South Korea’s major department stores are relocating their cosmetics brands to target different customers’ needs, in a departure from the past when all cosmetic lines were placed on the first floor.Some premium cosmetics are now moving out from the first floor and placed on different floors to target VIP customers by emphasizing their private and luxurious image. Shinsegae’s Gangnam branch moved upscale cosmetic brands including “Chantecaille” and “Darphin” to the second floor in the newly set u
IndustryMarch 14, 2013
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Neanderthal demise down to eye size?
Neanderthals went extinct because they had larger eyes than modern humans that monopolized brain resources to see in the long nights in Europe, scientists say.Modern humans, on the other hand, spent more time in Africa where longer, brighter days required no such adaption and allowed our frontal lobes, associated with higher-level thinking, to evolve further before we moved out of Africa and spread across the globe, they said.Eiluned Pearce of Britain's Oxford University, comparing Neanderthal s
TechnologyMarch 14, 2013
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Seoul shares close flat on key rate freeze
South Korean stocks closed almost flat on Thursday following the central bank's decision to freeze the key interest rates, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.40 points, or 0.12 percent, to 2,002.13. Trading volume was low at 320.7 million shares worth 4.01 trillion won (US$3.64 billion), with gainers outnumbering decliners 489 to 324."Local shares traded flat as investor sentiment was dented by the central
March 14, 2013
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Dwelling on past increases risk of inflammation
A study suggests that people who dwell on past events can increase the risk of inflammation.Researchers in Ohio University recruited 24 young women and asked them to make a speech in front of stoned-faced interviewers.After dividing the participants into two groups, they asked the first group to contemplate on their past memories while asking the second group to think about other things such as sailing in boats and browsing for groceries.Blood samples collected from the first group showed a high
TechnologyMarch 14, 2013
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The ‘20-20-20-20’ strategy keeps your eye healthy
U.S. vision health professionals recommended heavy computer users to follow the ‘20-20-20-20’ healthcare strategy to reduce eye strain. The strategy is designed to let people blink for 20 times in every 20 minutes and watch an object 20 feet away for 20 seconds. Office workers and game players often suffer from dry eyes, since they need to use computers for long hours.“Today’s offices are commonly cool and dry, which is nice and comfortable, except for the eyes. Blinking is nature’s way of keepi
TechnologyMarch 14, 2013
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Seoul shares down 0.82 pct in late-morning trade
South Korean stocks traded 0.82 percent lower late Thursday morning as foreigners and institutions scaled back their holdings, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) dropped16.45 points to 1,983.28 as of 11:20 a.m.Large caps were mixed. Market bellwether Samsung Electronics lost 1.31 percent, but chip giant SK hynix added 1.59 percent.The local currency ended at 1,101.65 won against the greenback as of 11:20 a.m., down 4.25 won from the previous close. (Yonhap News
March 14, 2013
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Google tosses Reader as house cleaning continues
Google said Wednesday it was tossing its Reader service and seven other products under a house cleaning campaign that has closed 70 of the Internet giant‘s features in the past two years.“These changes are never easy,” Google senior vice president of technical infrastructure Urs Holzle said in a blog post.“But by focusing our efforts, we can concentrate on building great products that really help in their lives.”Reader was launched in 2005 as a way for people to keep track of updates to favored
TechnologyMarch 14, 2013
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BOK maintains key rate at 2.75%
The Bank of Korea froze its key base rate at 2.75 percent on Thursday for the fifth consecutive month as indicators show that the U.S. and China, the country’s two biggest export destinations, are heading for a full recovery this year.The U.S. created a number of new jobs to push down its unemployment rate to a four-year low at 7.7 percent last month as its Federal Reserve reaffirmed that it will carry out its easy money policy until the job market improves, while China continued to show solid d
March 14, 2013
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Seoul shares turn lower after strong start
South Korean stocks turned lower after opening a tad higher Thursday, led by losses in blue-chip exporters amid a policy void due to stalled government reorganization, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed5.11 points, or 0.26 percent, to 1,994.62 in the first 15 minutes of trading. Tech heavyweight Samsung Electronics slipped 0.3 percent, with No. 1 steelmaker POSCO losing more than 1 percent. In contrast, telecom shares trended upwards, with top mobile carr
BusinessMarch 14, 2013
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S. Korean banks' foreign-currency loans dip in 2012
Foreign-currency loans extended by South Korean banks declined last year from a year earlier, as a stronger won helped borrowers repay their outstanding debts, the financial regulator said Thursday. The amount of foreign currency-denominated loans extended by local banks reached $29.93 billion in the January-December period of 2012, according to the Financial Supervisory Service (FSS). The figure has been on the decline since it hit $43.10 billion as of the end of 2008, the FSS said. From 2010,
March 14, 2013
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Government sells stake in CSA to Korean Airlines
The Czech prime minister says the government has approved a sale of a minority stake in the national carrier CSA to Korean Airlines.Petr Necas says Korean Airlines will get a 44-percent stake in CSA for (euro) 2.64 million ($3.45 million). Necas said Wednesday the move is ``a very important step that makes possible the development of CSA and Prague's international airport.''The Czech state owns a 95.7 percent stake in the airline. It has been seeking a strategic partner for the carrier after it
IndustryMarch 13, 2013