Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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DP leader says he will meet Yoon without conditions
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Shares down on weak Q4 earnings outlook
South Korean stocks finished 0.66 percent lower Tuesday as rising concerns over a weak corporate earnings outlook dented investor sentiment, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index dropped 13.30 points to 1,997.94. Trading volume was moderate at 489.3 million shares worth 3.91 trillion won ($3.67 billion), with decliners outnumbering gainers 427 to 369.“Although Samsung Electronics boasted all-time high quarterly e
Jan. 8, 2013
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Park not to raise taxes on wealthy bracket
President-elect Park Geun-hye’s transition team is poised to rule out tax hikes in the coming administration’s policy to secure funds for social welfare, committee members said Tuesday.Under Park’s full-fledged welfare project, which will cost the nation more than 90 trillion won ($83.3 billion) over five years, some economists had expected that the high-income bracket and major business groups would ultimately be the main target of tax authorities.But in contrast to market prediction, a member
Jan. 8, 2013
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Household debt, aging weigh on growth
President-elect Park Geun-hye is faced with many economic challenges ahead as Korea is about to enter a low-growth period, further weighed down by rising household debt and a rapidly aging society.With her transition team in order, Park and her advisers are set out to improve the country’s financial soundness by first extending a support mechanism that aims to alleviate the growing debt of middle-income earners and credit delinquents.As pledged, the incoming administration is expected to set up
Jan. 8, 2013
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Target emerging nations’ middle class: KOTRA
The Korea Trade-Investment Promotion Agency said that local export firms should target the middle class in emerging countries in order to tide over the protracted global economic slump.The state-run agency held its yearly presentation on local companies’ overseas market expansion strategy at InterContinental Seoul COEX on Tuesday.The three-day event kicked off with opening speeches by KOTRA CEO Oh Young-ho and Knowledge Economy Minister Hong Suk-woo, as well as reports from directors of nine reg
Jan. 8, 2013
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TV makers battle for spotlight at CES
LAS VEGAS ― The world’s top TV makers are battling for attention at one of the biggest international tech trade show with screens getting bigger and clearer compared to the previous years.The world’s top TV manufacturer Samsung Electronics on Tuesday showed off the biggest TV at the show ― its 110-inch display Ultra High Definition television ― and its rival LG Electronics pointed to its 55-inch organic light-emitting diode TV.They both held global press conferences at the show, highlighting the
Jan. 8, 2013
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Extreme weather pumps up sales of sundry, winter supplies
Office worker Bae Ji-won couldn’t get a cab one snowy night after a late night drinking session last week.After 20 minutes of trying past 2 a.m., she decided to spend the rest of the night at a nearby jjimjilbang, a dry sauna where people bathe and often sleep.On her way, she stopped by a 24-hour convenience store to pick up some emergency commodities.She first bought a can of warm honey water and a pair of socks as her boots and socks were soaked with snow.She also bought thermal underwear, pla
Jan. 8, 2013
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POSCO launches new social enterprise
POSCO, the nation’s top steelmaker, launched a new social enterprise named POSCO HUMANS on Wednesday after merging POSWITH and Poseco Housing, both of which were social enterprises under the steel group, POSCO HUMANS said in a press release. “The merger deal came for synergy effect and management efficiency. The newly established social enterprise will focus on offering jobs for socially disadvantaged people, including disabled and multicultural family members,’’ the company said. POSWITH, estab
Jan. 8, 2013
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Religious tax to be introduced this month
The Ministry of Strategy and Finance is reportedly pushing for a revised income taxation law that allows the government to collect taxes from religious groups.It plans to reintroduce the ordinance this month that has been controversial since 2006 when the National Tax Service suggested the religious tax to the Finance Ministry.Clergy and monks had been granted tax exemptions, and the ministry had been seriously contemplating whether to introduce the tax system faced with opposition and resistanc
Jan. 8, 2013
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Even in Roman times, cool shoes were a must
Children living in Roman times showed off their social status through the shoes they wore, a recent research suggested.According to a study led by Elizabeth Greene of the University of Western Ontario, Roman children were dressed to reveal their place in society. “The role of dress in expressing status was prominent even for children of the very youngest ages,” Livescience.com quoted Greene as saying. Greene and her colleagues looked at over 4,000 shoes found at Vindolanda, a Roman army fort in
TechnologyJan. 8, 2013
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U.S. Supreme Court leaves stem cell research alone
The U.S. Supreme Court declined Monday to enter the emotionally-charged debate over stem cell research, refusing to hear an appeal centered on the issue of federal government funding.The top U.S. court did not give a reason for its decision, which ends the long judicial saga over President Barack Obama's 2009 executive order lifting restrictions on financing imposed by his predecessor George W. Bush.The appeal had come from two researchers working with adult cells rather than embryonic stem cell
TechnologyJan. 8, 2013
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Samsung puts Q4 operating profit at 8.8 trillion won
Samsung Electronics Co., the world's biggest technology firm by revenue, estimated Tuesday it had posted a record operating profit of 8.8 trillion won ($8.3 billion) in the fourth quarter of 2012, and is poised to log record annual earnings on the back of its smartphone dominance.The preliminary estimate represents an 88.8 percent jump from a revised operating profit of 4.66 trillion won a year earlier, Samsung said in a regulatory filing. It is also a 9.2 percent increase from the previous thre
IndustryJan. 8, 2013
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Economic power shifts to emerging markets: report
The protracted economic slump in developed countries is accelerating the shift of global economic power to emerging markets, industry sources said. A recent report from the International Monetary Fund said the gross domestic product of emerging markets is forecast to increase to $44.1 trillion this year, surpassing $42.7 trillion of the developed countries for the first time in history. The outlook for GDP came as developed countries cut government expenditure more than emerging economies. The r
Jan. 7, 2013
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[Power Korea] Samsung’s new strategy: smart devices
Also in 2011, Samsung hit a new milestone: It surpassed Apple to become the world’s largest mobile phone maker in terms of sales.“It was another classic case of Samsung becoming better than the original,” said Chung of Chaebul.com. “This is possible thanks to Samsung’s strong leadership, and also its technological prowess, without which a feat like this could never have been.” The 2011 figures also takes Samsung on a trip down memory lane ― no pun intended ― to 1988 when it launched its first mo
IndustryJan. 7, 2013
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[Power Korea] Samsung Electronics, the rise of a Korean star
The year 1969 was when Neil Armstrong made a great leap for humankind by setting foot on the moon. Kim Sou-hwan was anointed Korea’s first cardinal, while in Vietnam, revolutionary leader Ho Chi Minh died. In the history of corporate Korea, 1969 marks the birth of one very conspicuous company: Samsung Electronics. As the flagship of Samsung Group, unarguably the most powerful industrial group in Korea, the company was founded more than three decades after Samsung Sanghoe ― literally translated a
IndustryJan. 7, 2013
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[Power Korea] From Samsung Electric Industries to Samsung Electronics
The early products of Samsung Electric Industries were mostly simple electronic appliances, such as televisions, refrigerators, air conditioners and washing machines. The first real expansion into high technology was marked by the 1974 acquisition of Korea Semiconductor, which was one of the first chipmakers in Korea. In 1980, Samsung acquired Korea Telecommunications.Technology took yet more turns for the better at breakneck pace following the decision made by the late Samsung founder in 1983 t
IndustryJan. 7, 2013
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IBs expect Korea to grow 3 percent this year: report
Global investment banks estimate the South Korean economy will expand 3 percent this year, mainly fueled by a rebound in Chinese demand, a report showed Monday. The growth projection compiled by 10 foreign IBs for Asia’s fourth-largest economy came in at an average of 3 percent, according to the Korea Center for International Finance. Nomura and Deutsche Bank gave the lowest 2.5 percent growth estimate for Korea in 2013, while Morgan Stanley bet a 3.7 percent expansion, the highest among the tal
Jan. 7, 2013
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Finance minister to start Asia tour
SEJONG (Yonhap News) ― South Korea’s finance minister will leave for Myanmar and Vietnam this week to hold bilateral meetings to discuss economic and financial cooperation, his office said Monday.Bahk Jae-wan is to embark upon his Asia tour Wednesday as part of efforts to strengthen bilateral economic and financial cooperation with members of the Association of Southeast Asian Nations, according to the Finance Ministry.His first leg of the trip is to Myanmar where he is scheduled to have ministe
Jan. 7, 2013
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Shares end flat on Q4 earnings woes
South Korean stocks finished nearly flat Monday as investors sat on the sidelines on worries over weak fourth-quarter corporate earnings due starting this week, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 0.03 percent, or 0.69 points, to 2,011.25. Trading volume was moderate at 532 million shares worth 3.94 trillion won ($3.71 billion) with losers outnumbering gainers 395 to 392.“The KOSPI closed lower as investors to
Jan. 7, 2013
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BAT cuts Dunhill Finecut Superslim by 200 won
British American Tobacco Korea said Monday that it would reposition the price of its Dunhill Finecut Superslim product to 2,500 won ($2.30) from the current 2,700 won. The company said the reduction would take effect on Jan. 17. “The decision to reposition the price reflects current market trends. Superslim segment accounts for about 30 percent of the total tobacco market,” it said.BAT Korea CEO Guy Meldrum said, “We believe the price change will provide wider choice for consumers who are seekin
Jan. 7, 2013
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Imported car sales jump 24.6% in 2012
Sales of imported cars in South Korea jumped 24.6 percent on-year to a record high last year as foreign brand vehicles have successfully made their presence felt in the country, a trade association said Monday.A total of 130,858 foreign-made cars were sold in 2012, compared with 105,037 units tallied a year ago, topping the 130,000 mark for the first time, according to the Korea Automobile Importers and Distributors Association. Its earlier sales target for last year was 120,000 units.The sales
MobilityJan. 7, 2013