Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Hybe's multilabel system tested amid conflict with Ador
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Ssangyong E&C turns to overseas sales
Driven into a corner by the protracted slump in the local housing market, the nation’s No. 13 builder Ssangyong Engineering & Construction is struggling to survive while anticipating a boom in the overseas high-end construction market.Ssangyong E&C’s net loss last year was around 400 billion won ($369 million), snowballing from a 157 billion won net loss in 2011, according to officials on Thursday.The net loss has impaired Ssangyong’s capital worth 148.8 billion won, which means that the builder
IndustryFeb. 14, 2013
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Samsung chief’s stock value tops W12tr
Lee Kun-hee, chairman of South Korean tech giant Samsung Electronics Co., has retained his position as the wealthiest shareholder in the country thanks to a surge in share prices of the company and a key affiliate, industry data showed Thursday.Lee held 12 trillion won ($11 billion) worth of shares as of Wednesday, up 31.2 percent from a year earlier, according to the data compiled by Chaebul.com, which tracks the country’s conglomerates.The researcher said the rise came as shares of Samsung Ele
IndustryFeb. 14, 2013
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Weak battery demand delays operation at LG’s U.S. plant
LG Chem Ltd., the world’s largest battery maker, said Thursday weak demand for vehicle batteries has led to a delay in the start of its American lithium-ion battery plant’s commercial operation, denying U.S. media reports that the factory is not run effectively.Citing the U.S. Department of Energy Special Report, The Washington Post and other U.S. media reported Wednesday that the factory in Holland, Michigan, into which $142 million of American taxpayer money was injected, is allowing workers t
CompaniesFeb. 14, 2013
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No room for small firms in canteen business
One of the perks of working in a big-enough company or institution in Korea is getting balanced meals from cafeterias at relatively low prices compared to nearby restaurants.The operation of most of these canteens is consigned to large firms ― Samsung Everland, Our Home (which spun off from LG Group in 2000, but is still entirely owned by the founder’s grandchildren), Hyundai Green Food, Shinsegae Food, Hanwha Hotels & Resorts, CJ Freshway, Dongwon Home Food and ECMD (of Pulmuone). These compani
IndustryFeb. 14, 2013
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Stress from violence can be passed to offspring: study
Stress experienced by pregnant women in violent situations can be passed down generations and negatively affect their grandchildren’s health, a recent study suggested. According to a report presented at Asia-Pacific Economic and Business History Conference on Thursday, babies born from mothers who spent their prenatal life in the May 18 democratic movement in 1980 were lighter and more likely to be born prematurely than others.The report stated babies’ inherited stress had no link to their paren
TechnologyFeb. 14, 2013
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Guppies use ugly friends to seem more attractive
When it comes to mating, guppies treasure their ugly friends - because they look so good by comparison.An article published Wednesday by Britain‘s Royal Society says that male guppies prefer to associate with their drab-colored counterparts when females are around."Males actively choose the social context that maximizes their relative attractiveness," the article said. Or, as lead author Clelia Gasparini put it, "If you are surrounded by ugly friends, you look better."Gasparini and her colleague
TechnologyFeb. 14, 2013
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Seoul shares gain 0.18 pct on eased uncertainties
South Korean stocks closed 0.18 percent higher Thursday as a spate of negative factors began to fade, whetting investors' appetite for risk, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 3.54 points to finish at 1,977.42. Trading volume was moderate at 330.5 million shares worth 3.36 trillion won (US$3.09 billion) with gainers outstripping decliners 481 to 304. "North Korea's nuclear test had little impact, curren
Feb. 14, 2013
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Women with high calcium levels twice as likely to die from heart disease: study
Women with high levels of calcium are at twice the risk of dying from heart disease than those with normal levels, a recent study has found.A research team at Uppsala University studied the correlation between calcium levels and women’s causes of death by analyzing the eating habits of 61,443 female participants aged 50 and older. The data included each participant’s diet and supplement intakes for an average of the past 19 years. Results showed that 48 percent of women with over 1,400 mg of dai
TechnologyFeb. 14, 2013
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Fitch maintains sovereign ratings on S. Korea despite Pyongyang's nuke test
Global credit appraiser Fitch Ratings said Thursday that it maintains its sovereign ratings on South Korea despite heightened geopolitical tension following the recent nuclear test by North Korea.The credit ratings agency also said it maintains its rating outlooks at "stable."Last September, Fitch raised the ratings on South Korea from "A+" to "AA-," the fourth-highest of its rating system, and has maintained the level ever since.North Korea conducted its third nuclear test on Tuesday in defianc
Feb. 14, 2013
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Social commerce sites to attract consumers with unique ideas
As social commerce expands rapidly as a mainstream online shopping channel in South Korea, a number of social commerce service providers are adopting fresh marketing strategies to lure more customers.Ticketmonster, one of the nation’s major social commerce companies, provides an instant coupon service which allows customers to purchase and use their coupons on the spot. The service aims to satisfy the increased needs of consumers who want to use their discount coupons instantly instead of waitin
TechnologyFeb. 14, 2013
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Seoul shares up 0.13 pct in late-morning trade
South Korean stocks traded 0.13 percent higher late Thursday morning, buoyed by gains in steelmakers and tech shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.51 points to 1,978.58 as of 11:20 a.m.Leading steelmaker POSCO moved up 1.3 percent, with tech behemoth Samsung Electronics rising 0.07 percent. But telecom shares continued to trend downward from the previous session, with top mobile carrier SK Telecom dipping 1.7 percent. The local currency was changi
Feb. 14, 2013
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Samsung chief Lee's stock value tops 12 tln won
Lee Kun-hee, chairman of South Korean tech giant Samsung Electronics Co., has retained his position as the wealthiest shareholder in the country thanks to a surge in share prices of the company and a key affiliate, industry data showed Thursday.Lee held 12 trillion won (US$11 billion) worth of shares as of Wednesday, up 31.2 percent from a year earlier, according to the data compiled by Chaebul.com, which tracks the country's conglomerates.The researcher said the rise came as shares of Samsung E
IndustryFeb. 14, 2013
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Mirae Asset to underwrite Boo-Kang Tech for KOSDAQ listing
Boo-Kang Tech, an environmental tech company, is seeking to list on the tech-heavy KOSDAQ possibly in the first half of this year with Mirae Asset Securities as its lead underwriter, a BKT official said.BKT is looking to raise around 30 to 40 billion won via an initial public offering. The IPO proceeds will be used to finance environment and energy plant engineering projects both at home and abroad.Also, the stock floatation will help the company secure funding from banks for further project inv
Feb. 14, 2013
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BOK freezes key rate at 2.75%
The Bank of Korea kept its key base rate unchanged at 2.75 percent for four consecutive months on Thursday as various economic indices show signs of recovery both at home and abroad.The inflation rate in South Korea remained stable, and geopolitical risks from North Korea concerning its provocative weapons tests had very limited effect on the South’s economy.However, BOK Governor Kim Choong-soo said that uncertainties remain as the U.S. and eurozone, Korea’s two major export markets, are still g
Feb. 14, 2013
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S. Korea's ranking in gold holdings jumps last year: report
South Korea's ranking in terms of gold holdings jumped last year as the country continued to invest in the precious metal as part of efforts to diversify its foreign reserve portfolios, a report showed Thursday.South Korea's gold holdings came to 84.4 tons last year, the 36th largest among 100 countries surveyed, according to the report by the World Gold Council. The ranking was up from 56th tallied in July 2011.The rise came as the country has kept purchasing gold, which is regarded as one of t
Feb. 14, 2013
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Seoul shares open tad higher on auto, chemical shares
South Korean stocks began a tad higher Thursday on gains in tech and chemical shares, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 2.17 points, or 0.11 percent, to 1,978.24 in the first 15 minutes of trading. Foreigners snapped up a net 7.4 billion won (US$6.8 million) worth of local equities as of 9:15 a.m. Auto and chemical issues led the gain, with No. 1 carmaker Hyundai Motor rising 0.2 percent and industry leader LG Chem advancing 1 percent. Market behemoth
Feb. 14, 2013
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Samsung Electronics most popular among jobseekers
Samsung Electronics was chosen for the fifth year in a row as the No. 1 company that college students and jobseekers wish to work in.Eighteen percent of the 2,644 people surveyed by online recruiting information provider Saram In picked Samsung Electronics, followed by Hyundai Motor (7.7 percent), Korea Electric Power Corp. (6.9 percent), POSCO (5.2 percent), CJ CheilJedang (4.1 percent), Korean Air (3 percent), SK Energy (1.9 percent) and LG Electronics (1.7 percent).High salary was the reason
IndustryFeb. 13, 2013
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Seoul moves to avert sovereign rating cut
A government-led task force plans to seek close coordination with global rating agencies in a bid to prevent Korea’s credit status from being downgraded in the wake of North Korea’s nuclear test.The task force is drawing up contingency plans to effectively weather the North’s provocation and held an emergency meeting early on Wednesday.The task force is composed of senior officials from the Finance Ministry, the Financial Services Commission, the Financial Supervisory Service and the Bank of Kor
Feb. 13, 2013
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Currency, monetary easing to top G20 meeting’s agenda
Currency devaluation and exit strategies for monetary easing are expected to top the agenda among financial policymakers at the upcoming G20 meeting of finance ministers and central bankers, Korean officials said Wednesday. The meeting is scheduled for Feb. 15-16 in Moscow.Korea’s Finance Minister Bahk Jae-wan and Bank of Korea Governor Kim Choong-soo will be attending the two-day meeting to share their views, especially on the global foreign exchange market, which has been prone to increased vo
Feb. 13, 2013
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FSC chief offers to resign...for incoming government
Financial Services Commission chairman Kim Seok-dong has tendered his resignation to Cheong Wa Dae, the FSC said Wednesday. Kim’s decision to step down before his three-year term expires early next year reflects his philosophy that a new administration needs a new pool of people, an FSC official said. He had reportedly expressed his willingness to resign from his post before the presidential election in December.Since taking the helm of the FSC in January 2011, he has led the restructuring of tr
Feb. 13, 2013