Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Korea enters full election mode
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Seoul’s bus union prepares for strike
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Camry drives Toyota toward revival
An hour before the awards ceremony was set to begin, Toyota Korea was informed that its Camry would be crowned the 2013 Korea Car of the Year. It was a stunning feat for a foreign brand ― it was unprecedented for an imported car to grab the honor ― and especially for Toyota which had stood resilient against the widespread doubt that had shrouded the release of the vehicle last January. Toyota had pretty much known that its hybrid compact Prius would win the “green car” award, but did not expect
MobilityJan. 27, 2013
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Galaxy S4 rumored for March release
Samsung Electronics, the world’s top cellphone maker, is expected to organize a major ceremony to unveil its latest Galaxy S4 in the U.S.The “Mobile Unpacked” event for the newest Galaxy phone is likely to be held on March 22, according to media and industry sources last week. SamMobile, an online community dedicated to delivering news involving Samsung, also cited insiders who said that the Korean electronics firm will ship the new Galaxy S4 beginning in April. It also said Samsung was planning
IndustryJan. 27, 2013
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Samsung becomes top global mobile phone seller in 2012
South Korean tech giant Samsung Electronics Co. sold more than 400 million mobile phones last year, outstripping Nokia Corp. as the world's leading handset vendor, an industry report showed Sunday. According to the latest report by International Data Corp., Samsung's shipments of smartphones and other handsets jumped 22.7 percent on-year to 407 million in 2012, taking up 23.7 percent of the global cellphone market. In comparison, last year's top global vendor Nokia saw its sales tumble 19.5
TechnologyJan. 27, 2013
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Heavy industries' market cap tumbles on weaker yen
South Korea's listed heavy industry companies saw their market capitalization plunge by 34 trillion won ($32 billion) in the last four months, hit by the Japanese yen's rapid descent, industry data showed Sunday. The combined market cap of local heavy industry firms, including automakers and shipyards, tumbled 19.2 percent to 142.8 trillion won as of last Friday, compared with the 176.8 trillion won tallied on Sept. 17, 2012, the highest number recorded for the second half of last year, accor
IndustryJan. 27, 2013
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STX unit wins W200b deal for four bulk carriers
STX Group, a South Korean shipping and shipbuilding conglomerate, said Friday its Chinese unit has clinched a 200 billion won ($187 million) deal to build four bulk carriers.Under the deal with a European shipping firm, STX Dalian Shipbuilding will build the vessels at its yard in Dalian, a port city in northeastern China, and deliver them by the first half of 2015, the group said. The group did not reveal the name of the buyer.A group official said STX Dalian Shipbuilding, based on its strong c
Jan. 25, 2013
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Hyundai’s Santa Fe named safest car in Europe
South Korean automaker Hyundai Motor Co.’s sports utility vehicle Santa Fe has received top scores to be named the safest car in its segment by a European car assessment program, the company said Friday.At the latest test by the European New Car Assessment Program, the Santa Fe garnered 96 percent in adult occupant protection and 89 percent in child occupant protection categories, which measure how stable the passenger compartment remains in the case of frontal impact.The Hyundai SUV also earned
IndustryJan. 25, 2013
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Korea to develop leading indicator for trade
SEJONG (Yonhap News) ― South Korea is considering developing a new leading indicator for trade conditions this year to better predict the economic trends of Asia’s fourth-largest economy, officials said Friday.Statistics Korea said the government is thinking of developing an indicator that would measure economic outlooks by tracking the trends of the country’s exports and imports.The index will be made by calculating an on-month growth rate of customs-cleared exports and imports, according to of
IndustryJan. 25, 2013
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KOGAS gains license from Cyprus for gas search
An international consortium, including Korea Gas Corp., or KOGAS, signed a joint exploration and production contact with the Cyprus government to search for gas in three offshore blocks, KOGAS said. “The consortium is composed of KOGAS and Italy’s ENI. KOGAS secures a 20 percent stake in the consortium, while ENI holds the remaining 80 percent stake,” a KOGAS official said Friday. “Operations for gas search on blocks 2, 3, 9 off the east Mediterranean island will be led by ENI for the next three
IndustryJan. 25, 2013
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Hyundai E&C net drops 18 percent in 2012
Hyundai Engineering & Construction Co., South Korea’s leading builder, said Friday that its 2012 earnings dropped 18 percent from a year earlier.Its consolidated net profit came to 560 billion won ($521 million) last year, compared with 685.1 billion won in 2011, the company said.Sales, however, jumped 11.8 percent on-year to 13.3 trillion won in 2012, and operating profit increased 3.4 percent on-year to 760 billion won. (Yonhap News)
IndustryJan. 25, 2013
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Kia sees fall in Q4 profit on stronger won
Kia Motors Corp., South Korea’s second-largest automaker, said Friday that its 2012 earnings climbed 9.8 percent from a year earlier thanks to steady sales in overseas markets.Net profit reached 3.86 trillion won ($3.6 billion) last year, compared with 3.52 trillion won for a year earlier, the company said in a regulatory filing.Sales rose 9.4 percent on-year to 47.2 trillion won in 2012, and operating profit also climbed 0.7 percent to 3.5 trillion won.For the fourth quarter of last year, Kia’s
MobilityJan. 25, 2013
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Financial groups’ profit likely to fall
Four major financial groups are estimated to see their collective earnings in 2012 drop by 25 percent, or about 2.6 trillion won ($2.4 billion), from a year earlier, according to researchers’ forecast data.FnGuide, an online financial data provider, predicted Friday that the four groups ― Woori, KB, Hana and Shinhan ― will post 7.8 trillion won in their combined net profit, down from 10.4 trillion won in 2011.All four groups are scheduled to make public their 2012 earnings on Feb. 7.Shinhan Fina
Jan. 25, 2013
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Shares fall on foreign selling
South Korean stocks fell 0.91 percent Friday as foreign investors dumped large caps amid poorer corporate earnings and a gloomy outlook for this year, analysts said. The local currency fell sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 17.79 points to finish at 1,946.69. Trading volume was light at 395.9 million shares worth 4.97 trillion won ($4.63 billion) with losers outnumbering winners 497 to 308.“The poorer-than-expected fourth-quarter earnings of aut
Jan. 25, 2013
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Renault Samsung to lead SM5, QM5 development
Renault Samsung Motors said Friday that it would play a leading role in developing new versions of SM5 and QM5 cars that will be marketed globally. Thus far, the role of the Korean unit of France-based Renault Group has been largely limited to car production. Even though Renault plans to resume its Chinese production to cover the world’s largest car market, there would be no major changes in the neighboring Korean operation, said Gilles Normand, Renault chairman for the Asia-Pacific region. “For
IndustryJan. 25, 2013
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Samsung posts record Q4 earnings
Samsung Electronics said Friday its 2012 fourth-quarter operating profit jumped 89.4 percent from a year before on strong exports of its Galaxy S3 and Galaxy Note 2 smartphones. Its net profit grew 75.6 percent on-year to 7.04 trillion won ($6.59 billion) in the three months to December, the company said in a regulatory filing.The world’s top smartphone maker achieved its largest-ever quarterly sales of 56.1 trillion won, up 18.51 percent from a year earlier, and operating profit of 8.84 trillio
IndustryJan. 25, 2013
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FSS levies fines on 3 foreign brokerages
The Financial Supervisory Service imposed on three foreign-owned brokerage firms ― Deutsche Securities Korea, Credit Suisse’s Korean operation and CLSA Korea ― fines worth 37.5 million won ($35,000) each for breaching real-name account rules. They were also issued a caution.A foreign securities firm has expressed unease about the nation’s financial regulator’s recent sanction on them for leaking customers’ information abroad.An executive from one of the three firms, who declined to be named, sai
Jan. 25, 2013
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Study: Good grammar makes bad passwords
Good grammar may be important, but when used to concoct a long computer password, grammar -- good or bad -- undercuts its security, U.S. researchers say.Computer scientists at Carnegie Mellon University said a password-cracking algorithm they developed that took into account grammar was tested against 1,434 passwords containing 16 or more characters.The grammar-aware cracker surpassed other state-of-the-art password crackers when passwords had grammatical structures, a university release reporte
TechnologyJan. 25, 2013
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S. Korea's fertility rate edges up in 2012
South Korea's fertility rate is expected to have risen slightly last year but is still far from a safe level, a government commission said Friday.According to the presidential commission on birth rate and aging society, the country's fertility rate is believed to have risen to 1.3 children per woman in 2012.The fertility rate is the average number of children born to a woman during her lifetime. The rate needs to be at over 2.01 for the population to grow, but South Korea's fertility rate has re
TechnologyJan. 25, 2013
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Seoul shares fall 0.91 pct on foreign selling
South Korean stocks fell 0.91 percent Friday as foreign investors dumped large caps amid poorer corporate earnings and a gloomy outlook for this year, analysts said. The local currency fell sharply against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) lost 17.79 points to finish at 1,946.69. Trading volume was light at 395.9 million shares worth 4.97 trillion won (US$4.63 billion) with losers outnumbering winners 497 to 308."The poorer-than-expected fourth-quarter earni
Jan. 25, 2013
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Online game ‘ArcheAge’ to advance into N. America, Europe and Oceania
Massively multiplayer online role-playing game “ArcheAge” will be launched in the North American, European and Oceanian markets.XLGAMES, developer of the title, announced on Friday that it made a contract with Trion Worlds, an online game developer and publisher based in North America. The contract will allow the publisher to operate the “ArcheAge” game service in Europe, Turkey, Australia, New Zealand and North America.“’ArcheAge’ is one of the most anticipated game titles in North America and
TechnologyJan. 25, 2013
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Mars rover snaps first nighttime photo
NASA says its Mars Curiosity rover has taken its first nighttime photos of the Red Planet's surface, using both white and ultraviolet lights of its instruments.Scientists used the rover's Mars Hand Lens Imager instrument for a close-up nighttime look at a rock target called "Sayunei," in an area where Curiosity's front left wheel had scuffed the rock to provide fresh, dust-free materials to examine, NASA's Jet Propulsion Laboratory in Pasadena, Calif., reported Thursday.The Curiosity science tea
TechnologyJan. 25, 2013