Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Woman gets suspended term for injuring boyfriend with knife
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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Samsung chief bolsters ties with Germany’s Zeiss
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KT launches new mobile plans for foreign residents
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Asiana Airlines asked to allow female crew to put on pants
The National Human Rights Commission of Korea on Monday recommended Asiana Airlines allow female flight attendants to choose between skirts and trousers.In addition, a local public transport union submitted a petition against the airline in June 2012, saying that it was gender discrimination to ban female flight attendants from wearing pants. Regarding the petition, the NHRC concluded that banning female attendants from wearing pants is an act of discrimination since it restricts the choice of u
IndustryFeb. 4, 2013
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Midwifes linked to fewer C-sections
Women who give birth at midwife-led birthing centers are less likely to have Caesarean births compared with women in hospitals, U.S. researchers say.The National Birth Center Study II said the rate of Caesarean sections for expecting U.S. mothers escalated over the past two decades."Birth centers are homelike facilities existing within the healthcare system with a program of care designed in the wellness model of pregnancy and birth," Lesley Rathbun, president-elect of the American Association o
TechnologyFeb. 4, 2013
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Seoul shares up 0.27 pct in late-morning trade
South Korean stocks traded 0.27 percent higher late Monday morning as foreign investors scooped up local shares, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) advanced 5.25 points to 1,963.04 as of 11:20 a.m.Mobile carriers led the market gain, with leading SK Telecom increasing 2.94 percent and No. 2 player KT moving up 4.17 percent.No. 3 player LG Uplus climbed 3.91 percent.Shipbuilders also traded higher, with Daewoo Shipbuilding & Marine Engineering rising 0.17 percen
Feb. 4, 2013
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Mobile games to be excluded from shutdown system
The Korean government on Monday decided not to extend what is called “the game shutdown system” to mobile games, which run on smartphones and tablet computers.The Ministry of Gender Equality and Family and the Ministry of Culture, Sports and Tourism announced that mobile games will be excluded from the mandatory game shutdown system, which prohibits gamers aged 16 or under from connecting to online games between midnight and 6 a.m., a controversial policy aimed at protecting younger people from
TechnologyFeb. 4, 2013
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Seoul shares open higher on U.S. gains
South Korean stocks began higher Monday as investor sentiment got a boost from last week's gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.45 percent, or 8.84 points, to 1966.63 in the first 15 minutes of trading.Shares gathered ground across the board, with tech behemoth Samsung Electronics increasing 0.14 percent and top steelmaker POSCO adding 1.81 percent. Leading builder Hyundai Engineering & Construction moved up 1.46 percent.U.S. stocks e
Feb. 4, 2013
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Koreans in 20s eat least
South Korean 20-somethings were found to eat the least among all age groups in 2012, Statistics Korea said on Sunday.A survey of meal consumption by age group in 2012 found that those aged between 25 and 29 skipped 3.8 meals per month on average, followed by those aged 20 to 24 skipping 3.7 meals. Considering gender, females in their late 20s skipped the most meals, at 4.5 meals per month on average, the governmental agency said.“Meal consumption correlates with income level,” Kim Mi-sook from T
Feb. 3, 2013
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Korea decoupling from global equity markets
Equities in the nation’s bourse are posting low profitability while major stock markets overseas have taken on a bullish trend.Korea’s “decoupling” from major countries in stocks has continued over the past four weeks, with its price-earnings ratio, measuring share profitability, recording a rather low 8.69.Hong Kong posted a P/E ratio of 16.07, followed by Taiwan with 14.52, the U.S. with 13.68, Australia with 13.15, Japan with 12.95, France with 11.39, the U.K. with 11.29, Germany with 11.24 a
Feb. 3, 2013
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Rice consumption halves
The nation’s annual consumption of rice in 2012 was half of what it was three decades ago, the state-run Statistics Korea said. Compared to 2011, the 2012 consumption also fell about 2.0 percent, from 71.2 kilograms to 69.8 kilograms per capita. The data reveals that in 2012, Koreans consumed about 191 grams of rice, or less than one and a half bowls, per day on average. “The rice consumption in households has been dropping largely due to increasing demand for alternatives to rice and instant fo
Feb. 3, 2013
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Overseas travelers spike on strong local currency
The number of South Koreans traveling overseas in January spiked, mostly driven by the local currency’s steep ascent, which is giving them more price incentives to go abroad, industry data showed Sunday.Hanatour Service Inc., the largest local travel company, said that overseas travelers using its service jumped 30.7 percent on-year in January to about 185,000. This is the monthly record high for the company, surpassing the 159,000 registered in August last year. Of the total, 48.5 percent chose
Feb. 3, 2013
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Shares likely to move in tight range this week
South Korea’s stock market may inch up this week on strong exports though it will likely move in a very tight range, analysts said.The benchmark Korea Composite Stock Price Index closed at 1,957.79 on Friday, up 0.6 percent from a week earlier.The KOSPI had a weak start last week as the local currency continued to rise against the U.S. dollar, raising concerns over weak earnings by major exporters.The Korean won gained 19.6 percent against the Japanese yen last year, putting South Korean exporte
Feb. 3, 2013
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Apple overtakes Samsung in U.S. mobile phone market
Apple Inc. passed Samsung Electronics Co. to become the top mobile phone maker in the U.S. for the first time, scoring a victory in the companies’ battle for global dominance of the mobile-device market.Apple sold 17.7 million mobile phones in the U.S. during the fourth quarter, a 38 percent jump from a year earlier, research firm Strategy Analytics said Friday in a statement. That gave it 34 percent of the market, topping Samsung, which sold 16.8 million handsets for a 32 percent market share.
TechnologyFeb. 3, 2013
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Facility investment forecast to shrink 1.4%
Facility investment by businesses in South Korea will likely contract for three consecutive years from 2013 as companies remain reluctant to spend in the face of toughened and cloudy market conditions, a survey showed Sunday.Corporate investment in facilities is expected to decline 1.4 percent on-year to a combined 127.9 trillion won ($116.5 billion) this year, according to the survey by the Korea Finance Corp. The survey was conducted on 3,251 businesses across the country.Last year, companies
TechnologyFeb. 3, 2013
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Wage, income account shortfalls hit record high
South Korea’s wage and income account deficit hit a record high in 2012 as local companies paid more for foreign workers here than income brought in by Korean laborers working overseas, data showed Sunday.According to the data by the Bank of Korea, income earned by foreign workers in Korea came to about $1.15 billion last year, down 2.8 percent from a year earlier. Income earned by Korean workers abroad shrank 13.8 percent on-year to $647.1 million.As a result, the country’s wage and income acco
TechnologyFeb. 3, 2013
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Global currency row likely to last for some time: report
The current global currency row is expected to continue for the time being as monetary easing by major economies will likely spur emerging markets to take tougher moves to stem the appreciation of their currencies, a report said Friday. The stimulus plans by the United States and Japan have escalated foreign exchange volatility, sparking a currency conflict between the two global economic powerhouses and prompting other countries to hurry to curb the ascent of their currencies, according to the
Feb. 3, 2013
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SK Group chairman urges unwavering support after Chey’s imprisonment
Kim Chang-geun, chairman of SK Group’s decision-making body Supex, asked for support from employees in an online message delivered after former chairman Chey Tae-won received a four-year jail sentence for embezzlement on Thursday. “All of you may have been surprised with the unexpected result,” wrote the former vice chairman of SK Chemical who replaced Chey in December. “Despite external difficulties, we will continue fulfilling our duty for all stake holder groups, including our customers. Each
IndustryFeb. 3, 2013
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Woori Financial’s brand ranking sees big jump
Woori Financial Group saw its 2013 brand ranking, assessed by The Banker, climb more than 300 notches from last year.Woori ranked 77th in the yearly list of the top 500 banking brands by The Banker, a London-based financial magazine, a jump from 389th in 2012.Shinhan Financial Group and KB Financial Group took the positions of 51st (57th in 2012) and 65th (76th in 2012), respectively.Hana Financial Group, which acquired Korea Exchange Bank a year ago, also made the list at No. 116. Last year Woo
Feb. 3, 2013
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Earnings shock sweeps listed companies
A fourth-quarter earnings shock struck a majority of listed companies, with display, steel and chemical sectors seeing downhill outlooks in the first three months of this year as well.Fifty-one percent of 37 major listed companies that announced their October-December 2012 operating profits so far showed earnings falling far short of market expectations. They include Samsung SDI, Korean Air, Green Cross, Samsung Fine Chemicals, S-Oil, KT, LSIS, LG Electronics, Kia Motors and SK Hynix.Major IT st
IndustryFeb. 3, 2013
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Toyota, Ford lead U.S. sales gains as autos fuel growth
Toyota Motor Corp. and Ford Motor Co. led the four largest automakers by U.S. sales in reporting January gains that topped estimates, as buyers return to showrooms to begin a fourth consecutive year of growth.Toyota’s deliveries of cars and light trucks surged 27 percent and Ford’s climbed 22 percent, while General Motors Co. and Chrysler Group LLC sales each rose 16 percent, the companies said Friday. Industrywide light-vehicle sales increased 14 percent, according to researcher Autodata Corp.,
MobilityFeb. 3, 2013
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Hyundai, Kia post record monthly sales in China
South Korean automaker Hyundai Motor Co. and its affiliate Kia Motors Corp. said Sunday they have posted monthly record sales in China in January helped by the growing popularity of their new models.Beijing Hyundai Motor Co. and Dongfeng Yueda Kia Motor Co., the South Korean automakers’ China units, sold 163,090 units last month, up 66.4 percent from a year earlier.The total breaks down to 107,888 units for Beijing Hyundai and 55,202 units for Dongfeng Yueda Kia.The number outperforms the previo
MobilityFeb. 3, 2013
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Mercedes takes early luxury lead after outselling BMW
Mercedes said it sold 22,501 vehicles last month, its best January, helped the C-Class sedan’s 11 percent climb to 7,214. Brand sales for BMW increased 0.7 percent to 16,513 units, boosted by a 56 percent gain for its X5 sport-utility vehicle. Toyota Motor Corp.’s Lexus rose 32 percent to 16,211, led by the ES sedan, which more than doubled to 5,186 deliveries. The two German automakers are vying to be the top luxury- auto brand in the U.S. after outselling Lexus the past two years. BMW vaulted
MobilityFeb. 3, 2013