Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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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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[Weekender] How DDP emerged as an icon of Seoul
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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[Music in drama] An ode to childhood trauma
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Seoul shares edge down 0.05 pct on earnings woes
South Korean stocks inched down 0.05 percent Monday as investors dumped large cap shares due to a pessimistic outlook on fourth-quarter earnings, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.99 points to finish at 1,986.86. Trading volume was moderate at 440.75 million shares worth 3.76 trillion won (US$3.54 billion) with gainers outpacing decliners 459 to 352."The mood is quite positive in recent times. Chin
Jan. 21, 2013
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‘Naked’ X-ray body scanners to be withdrawn from US airports
Naked-image scanners will be removed from airports in the United States, the BBC reported.The U.S. Transportation Security Administration decided to terminate its $5 million (5.29 billion won) contract with OSI Systems after the company failed to meet the deadline for producing less-revealing passenger images. Accordingly, “naked” X-ray scanners are set to be removed by June 2013, the agency said. The TSA, however, is not stopping the use of full-body scanners. Sixty full-body scanners from L-3
TechnologyJan. 21, 2013
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'Engaged’ workers healthier, productive
U.S. workers who are engaged in their work and workplace are more likely than those who are not engaged to have a healthier lifestyle, a survey indicates.The Gallup Daily tracking interviews conducted January-December 2012 found engaged employees ate healthier, exercised more frequently and consumed more fruits and vegetables.The employee engagement index was based on research on actionable workplace elements with proven linkages to performance outcomes, including productivity, customer service,
TechnologyJan. 21, 2013
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Cigarette sales drop on weaker demand
Sales of cigarettes in South Korea last year fell from a year earlier due mainly to an economic slowdown and widespread anti-smoking movements, industry data showed Monday.According to the data, Ministop Korea, the local operator of the Japan-based convenience chain store, saw its cigarette sales fall 7.6 percent on-year in 2012.Korea Seven Co. said cigarette sales at its 7-Eleven convenience stores dropped 4.3 percent on-year in 2012, and GS25 chains, run by local retail conglomerate GS Corp.,
IndustryJan. 21, 2013
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LG to release Optimus G follow-up
South Korean handset maker LG Electronics Inc. on Monday confirmed plans to release the “Optimus G Pro,” a follow-up to its flagship smartphone “Optimus G.”The Optimus G Pro, which is likely to be launched locally in the first quarter, is set to pack a 5.5-inch full high-definition(HD) display and run on a quad-core application processor, the company said.LG said it plans to ramp up the user experience and hardware features of the Optimus G on the new device.The move comes as the handset maker i
TechnologyJan. 21, 2013
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‘Quadruple helix’ found as new DNA structure: study
Scientists at Cambridge University said they have found four-stranded DNA in human cells for the first time, noting the finding might possibly relate to cancer treatment. Since the discovery of DNA structure by James Watson and Francis Crick, people have commonly thought its structure to be a double helix. However, researchers at the Cambridge’s Department of Chemistry told journal Natural Chemistry that they have captured the existence of a "quadruple helix" at their lab. The researchers named
TechnologyJan. 21, 2013
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Seoul shares down 0.42 pct in late-morning trade
South Korean stocks traded 0.42 percent lower late Monday morning due to concerns over the further weakening of the Japanese yen, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shed 8.28 points to 1,979.57 as of 11:20 a.m.Most exporters traded in negative territory, with top steelmaker POSCO dropping 0.7 percent and biggest shipyard Hyundai Heavy Industries sliding 0.22 percent.No. 1 carmaker Hyundai Motor fell 0.7 percent and its smaller affiliate Kia Motors lost 1.85 per
Jan. 21, 2013
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Half of S. Koreans see themselves as poor: poll
More than half of South Koreans think they belong to the low-income bracket, a poll showed Monday, apparently reflecting their falling earnings due to the country‘s protracted economic slump.According to the nationwide survey of 1,000 people by the Korea Institute for Health and Social Affairs, 50.5 percent said their earnings hover below the nation’s median income.Another 36.9 percent responded they belong to the middle-income bracket, while only 10.5 percent believed themselves to be high-inco
Jan. 21, 2013
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Savings banks' liquidity hits over 5-year low
South Korean savings banks' liquidity has hit the lowest point in more than five years as the ongoing restructuring of bankrupt players dampens deposits amid a still large amount of problem loans, data showed Monday. The average balance of savings banks' money supply, known as M2, came in at 41.1 trillion won ($38.8 billion) for local savings banks as of the end of November last year, the lowest since the 40.7 trillion won tallied in July 2007, according to data by the Bank of Korea and an indus
Jan. 21, 2013
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Seoul shares trade lower after strong start
South Korean stocks started slightly higher but soon lost ground on Monday, led by losses in techs and carmakers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) opened 0.01 percent higher but soon shifted to negative territory, losing 9.8 points, or 0.49 percent, to 1,978.05 in the first 15 minutes of trading.Market bellwether Samsung Electronics dropped 1.49 percent and LG Display, one of the biggest flat screen suppliers for Apple, fell 2.26 percent.Carmakers were also b
Jan. 21, 2013
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Global companies use localization to win Korean hearts
It is a serene atmosphere with a Korean traditional teahouse-like interior where people sit down on top of flat cushions on a wooden floor. But the drinks served are Starbucks coffee.Korea’s first drive-through Starbucks opened in Gyeongju, capital of the ancient kingdom of Silla, in September, with Silla designs everywhere.The stair railing to the traditional tearoom on the upper floor is designed after the banisters around the historic Anapji pond where the royals and the upper class partied d
IndustryJan. 20, 2013
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Jeong promoted to Woori Card CEO
Woori Financial Group senior executive director Jeong Hyun-jin has been appointed CEO of Woori Card, with the new firm to be launched in March, group officials said Sunday.Jeong will lead the credit card firm, which is scheduled to be spun off from the financial group’s bank unit as an independent subsidiary.Born in Uiseong, North Gyeongsang Province, in 1952, he has worked mainly for Woori Bank and Hanil Bank, a former entity of the commercial lender, for 30 years.Though Woori Card (formerly Wo
Jan. 20, 2013
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NTS launches probe into high-income tax evaders
South Korea’s tax agency has launched investigations into bank accounts of high income earners on suspicion of tax evasion, officials said Sunday.“We are investigating some tax evasion allegations as we have received tens of reports since the tax law revision,” said an official from the National Tax Service. “The results will come out soon.”The tax law was recently revised to give rewards of up to 50 million won ($47,300) to those who report tax evading cases to the tax authorities. The reward s
Jan. 20, 2013
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Samsung, LG washers get top scores from U.S. magazine
U.S. magazine Consumer Reports has given top ratings to washers manufactured by South Korea’s major home appliance makers Samsung Electronics Co. and LG Electronics Inc. in its latest survey, industry sources said Sunday.The February issue of Consumer Reports said Samsung’s front-loading WF457 and WF455 washers received the “excellent” level in washing performance, energy efficiency, water efficiency and vibration, and got “very good” in quietness to garner 89 points in total.LG’s WM8000 front-l
TechnologyJan. 20, 2013
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Shares may lose ground this week on Vanguard exit
The South Korean stock market is likely to be weighed down by the effects of a U.S. fund manager’s decision to gradually exclude Seoul shares from its benchmark index, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,987.85 last week, down 0.44 percent from a week earlier. The KOSPI, which started this week on the 2,000 level, lost ground, dogged by concerns over U.S. debt ceiling talks and Vanguard Group’s move to switch into a benchmark index which excludes
Jan. 20, 2013
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Hyundai Heavy wins $1.1b offshore facility order from Norway
Hyundai Heavy Industries, or HHI, the world’s biggest shipbuilder, said Sunday it sealed an $1.1 billion deal with Statoil ASA, a state-run oil and gas operator in Norway, for the construction of offshore gas facilities. This is the second time for HHI to win an offshore facility construction order from the Norwegian company. The floating facility called a spar platform, which will weigh 64,500 tons, will be built in the Aasta Hansteen gas field in the North Sea by March 2016. The offshore faci
Jan. 20, 2013
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Korea last in OECD in female graduate employment
South Korea’s employment rate of female college graduates ranked at the bottom among a group of the world’s advanced nations, with the country having the largest difference between employment rates for men and women, data showed Sunday.According to the data compiled by the Organization for Economic Cooperation and Development, only 60.1 percent of college-educated South Korean women were employed as of 2011, marking the lowest rate among 33 OECD member nations.Turkey was second from the bottom,
Jan. 20, 2013
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Hong Kong-based fund bids for Ssangyong E&C
Hong Kong-based private equity firm VVL expressed its willingness to participate in a bidding to take over Ssangyong Engineering & Construction Co., industrial sources said Sunday.If successful, VVL will become the largest shareholder of the Korean builder firm, replacing the state-run Korea Asset Management Corp., or KAMCO, Ssangyong’s current largest shareholder. Ssangyong E&C has been accepting applications from developers here and abroad since last November. The bid will most likely close be
IndustryJan. 20, 2013
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Cheap yen poses threat to exporters
The Korean won strengthening against major currencies is estimated to undermine exports from the information technology and automobile industries, a private research institute said Sunday.In particular, the Japanese yen’s weaker position against the won was identified as a serious threat to the price competitiveness of Korea’s IT and car producers by Hyundai Economic Research Institute.While the two sectors are the nation’s top growth engines, HERI estimated that Korea sees a drop in product exp
Jan. 20, 2013
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U.S. back-up camera rule to double auto LCD demand
Shipments of liquid crystal displays for use in cars will almost double by 2016 from 2012 levels, as an expected mandate in the U.S. for rear-view cameras in autos boosts demand, researcher IHS forecast. Deliveries of full-color LCDs used in autos will reach almost 117 million units by 2016, up 89 percent from 2012, El Segundo, California-based IHS said in a report dated Jan. 17. Each year sales will grow between 15 percent and 23 percent, with shipments crossing the hundred-million-unit mark in
MobilityJan. 20, 2013