Most Popular
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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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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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[Power Korea] Corporate Korea keeping the fires burning
The Korea Herald is publishing a series of articles titled Global Brand as part of the first installment of Power Korea. Korea’s success story is a 60-year-old tale written by not one, but many who worked to build one of the world’s most powerful nations from the ashes of war. This Global Brand series is designed to honor those who made this Korean Dream come true. This is the first part of the Global Brand series. ― Ed.South Korea’s rags-to-riches tale is an epic spanning some six decades, star
IndustryJan. 1, 2013
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Trade surplus narrows to $2b in Dec.
South Korea’s trade surplus shrank from a year earlier as exports dropped at a faster rate than imports, the government said Tuesday.The country’s trade surplus came to about $2.03 billion last month, compared with a $4.48-billion surplus in November and $3.8-billion surplus in October.The drop comes mainly from a large reduction in exports, which dropped 5.5 percent from that of December 2011 to some $45.1 billion. Imports shrank 5.3 percent on-year to $43.07 billion, according to the Ministry
Jan. 1, 2013
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Consumer prices grow 1.4% on-year in Dec.
SEJONG (Yonhap News) ― South Korea’s consumer prices grew at the slowest pace in four months in December, indicating that the country is keeping inflationary pressure under control, a government report showed Monday.The country’s consumer prices index rose 1.4 percent in December from a year earlier, slowing from a 1.6 percent on-year gain in the previous month, according to the report by Statistics Korea. From a month earlier, it grew 0.2 percent.The on-year figure marked the slowest growth sin
IndustryJan. 1, 2013
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LG Optimus Vu sales top 1 million in Korea
LG Electronics Inc., which has been ramping up efforts to regain a presence in the mobile phone industry, has sold more than 1 million Optimus Vu phones locally, the company said Monday.The Optimus Vu series, which includes the Optimus Vu and the Optimus Vu 2 phones, features a 4:3 display that was designed to enhance readability of Web pages and e-books.LG Electronics locally released the Optimus Vu in March and Optimus Vu 2 in September. The handset maker has rolled out the Optimus VU in Asia,
Jan. 1, 2013
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Hyundai Heavy unit wins 331 billion won ship order
Hyundai Mipo Dockyard Co., a South Korean shipbuilder, has clinched a 331 billion won ($311 million) deal to build 10 vessels, the company said Monday.Under the deal with an American shipping firm, Hyundai Mipo will deliver the vessels carrying petrochemical goods by June 2015, the company said in a regulatory filing.Hyundai Mipo, a unit of South Korea’s leading shipbuilder Hyundai Heavy Industries Co., did not identify the name of the buyer.Hyundai Mipo said it targets orders worth $3.2 billion
Jan. 1, 2013
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POSCO acquires stake in Canadian mining firm
POSCO, South Korea’s leading steelmaker, said Tuesday it has acquired a stake in a Canadian mining company as part of its efforts to diversify its profit source. A consortium that includes POSCO has secured a 15 percent stake worth $1.1 billion in ArcelorMittal Mines Canada, the company said in a statement. POSCO will invest $270 million, with China Steel, the largest steelmaker in Taiwan, to pay $540 million for the deal, it said. The remainder needed for the acquisition will be raised from ins
Jan. 1, 2013
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Tech firms battle for OS supremacy
Global tech titans are expected to stage a fierce competition for the dominant operating system for smart devices this year, as Samsung and Microsoft seek to reenter the market with “Tizen” and “Windows 8,” respectively, and Apple and Google are expected to bring forward the launch dates for new products. The world’s bestselling smartphone maker Samsung will launch smartphones with the new operating system “Tizen” in January in Japan, a local report said, citing Samsung officials. OS giant Intel
TechnologyJan. 1, 2013
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Hyundai-Kia’s overseas output surpasses local for first time
Hyundai Motor and Kia Motors saw their production of vehicles in the overseas market outstrip their domestic performance for the first time in 2012.In particular, the carmakers’ factories in the BRIC ― Brazil, Russia, India and China ― market significantly fueled their overseas manufacturing capacity, according to the Korea Automobile Manufacturers Association.KAMA data showed that Hyundai-Kia’s vehicle production in the four fast-growing economies surpassed 2 million units for the first 11 mont
IndustryJan. 1, 2013
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SK Group’s exports reach all-time high
SK Group said Tuesday that it posted record exports of more than $60 billion (64.8 trillion won) last year.The group said the ratio of exports to its total earnings reached 74 percent. Main exporters of its business units included SK Innovation, SK Energy, SK Global Chemical, SK Hynix, SK Lubricants and SKC.The figure means SK supplied more than 10 percent of the nation’s total exports in 2012, according to estimates by the Ministry of Knowledge Economy.In particular, four petrochemical-related
IndustryJan. 1, 2013
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Income tax change may affect investment
The “comprehensive financial income” tax, which used to be imposed on interest and dividend incomes of more than 40 million won, will now be applied to such incomes of more than 20 million won under a revised income tax bill passed by the National Assembly on Tuesday.The revision is expected to raise the popularity of tax-saving financial products such as inflation-indexed sovereign bonds and Brazilian bonds.Fixed deposits and installment savings at banks which incur interest and general equity-
Jan. 1, 2013
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Consumers in the smart era: Turning ‘complaints’ into ‘trust’
Starting with 8,063 in 1987, the number of consumer complaints registered with the Korea Consumer Agency has surged by 96-fold in the past 25 years. In particular, the figure increased from 309,545 in 2006 to 778,000 in 2011, a 2.5-fold increase that coincided with the introduction and explosive use of smartphones, social networking services, online sales channels, etc. The arrival of the smart era has fundamentally altered the scale, scope, speed and potential impact of consumer complaints. Thi
Jan. 1, 2013
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CEO educator to launch model entrepreneurship academy
Family-controlled South Korean conglomerates, better known as chaebol, still dominate the nation’s corporate world, but the number of venture firms has continued to grow despite the burst of the dot-com bubble in 2001. Over the past decade, some star start-ups, including Mirae Asset, Naver and NCSoft, have become big business groups and these successes have expanded the base of entrepreneurs. “To see more Steve Jobs-type innovative CEOs in Korea, I believe that it is more important to support ne
Jan. 1, 2013
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Most sleep on their sides, forget dreams
Most U.S. adults sleep on their sides, forget their dreams in the morning and often sleep with someone who snores, a survey of 3,700 indicates. A survey for home furnishings retailer Anna's Linens to coincide with National Sleep Foundation found 74 percent of U.S. adults said they wear pajamas to bed, 8 percent said they slept naked, 74 percent said they failed to recall their dreams in the morning, 74 said they sleep on their sides and 47 percent said they shared a bed with someone who snored.
TechnologyJan. 1, 2013
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Comet heads our way for celestial show
A newly discovered comet could be the celestial spectacle of a century and light up the skies as bright as a full moon in 2013, its Russian discoverers say.Amateur Russian skywatchers Artyom Novichonok and Vitali Nevski observed the object dubbed Comet ISON in September, Discovery.com reported."The object was slow and had a unique movement," Novichonok wrote on a comet-hunting blog."But we could not be certain that it was a comet, because the scale of our images are quite small and the object wa
TechnologyJan. 1, 2013
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S. Korea's trade surplus narrows to $2 billion in Dec.
South Korea's trade surplus shrank from a year earlier as exports dropped at a faster rate than imports, the government said Tuesday.The country's trade surplus came to about US$2.03 billion last month, compared with a $4.48-billion surplus in November and $3.8-billion surplus in October.The drop comes mainly from a large reduction in exports, which dropped 5.5 percent from that of December 2011 to some $45.1 billion. Imports shrank 5.3 percent on-year to $43.07 billion, according to the Ministr
Jan. 1, 2013
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Yahoo exits S. Korea, halts service
U.S. Internet company Yahoo Inc. on Monday halted its South Korean service, pulling out of one of the world's most wired countries after 15 years.Yahoo will halt all products, services and content of Yahoo Korea starting Dec. 31 in addition to ending customer support in Korea on the same day, the company wrote on its Korean Web site.In October, Yahoo announced a plan to pull out of South Korea as chief executive officer Marissa Mayer focuses more on stronger markets."The decision is part of Yaho
TechnologyDec. 31, 2012
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Local stock market ranks 15th worldwide in market cap
The combined market capitalization of South Korean firms listed on the main and secondary bourse ranks 15th among global peers by claiming 2.15 percent of the total, data showed Monday.The combined market cap of the world's 20 major stock markets reached US$52.7 trillion as of the end of November, increasing 9.56 percent from end of 2011, according to data by the bourse operator Korea Exchange.The KRX, which operates the benchmark Korea Composite Stock Price Index and the tech-heavy KOSDAQ marke
Dec. 31, 2012
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S. Korea's consumer prices grow 1.4 pct on-year in Dec.
South Korea's consumer prices grew at the slowest pace in four months in December, indicating that the country is keeping inflationary pressure under control, a government report showed Monday.The country's consumer prices index rose 1.4 percent in December from a year earlier, slowing from a 1.6 percent on-year gain in the previous month, according to the report by Statistics Korea. From a month earlier, it grew 0.2 percent.The on-year figure marked the slowest growth since August when the inde
IndustryDec. 31, 2012
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Overseas construction orders up 10% in 2012
Overseas orders clinched by South Korean builders rose almost 10 percent this year from the previous year, but they missed the government’s target of $70 billion, a report showed Sunday.Local builders won overseas orders worth $64.9 billion in 2012, up 9.8 percent from a year earlier, according to the Ministry of Land, Transport and Maritime Affairs. But the volume was lower than the government-set target of $70 billion, it added.The government said that the eurozone debt crisis led local builde
Dec. 30, 2012
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2012 per-capita GDP estimated to stay almost flat
South Korea’s per-capita gross domestic product is estimated to only marginally inch up in 2012 compared with the previous year due to the slowing economy, a report showed Sunday.Korea’s per-capita GDP is estimated to reach $22,705 in 2012, up 1.3 percent from a year earlier, according to a report by Korea Investment & Securities Co.In calculating the figures, the full-year economic growth rate was estimated at 2.3 percent and the local currency was set at an average of 1,127.1 against the dolla
Dec. 30, 2012