Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Korea enters full election mode
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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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Immigrant woman stabbed to death by Korean husband
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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Shinhan Financial shares with community under Christmas tree
Shinhan Financial Group unfolded a series of volunteer programs on Thursday and Friday at Cheonggye Plaza, downtown Seoul, to support neighbors in need.Organized together with the Korea National Council of Social Welfare and the Community Chest of Korea, the two-day charity event, held for the second time since last year, consisted of kimchi-making, sweater-knitting, and sending Christmas postcards with UNICEF under a large Christmas tree set up at the downtown plaza. About 200 Shinhan Financial
Dec. 9, 2012
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Korea attracts $160m investment from U.S.
Korea attracted investment totaling about $160 million (172 billion won) from enterprise in the United States through the government-led investor relations session, the Ministry of Knowledge Economy said Sunday.The successful IR performance was attained during a forum in Washington, D.C., which is designed to promote “bilateral investment,” over the weekend.“Their investment in Korea includes a U.S. firm’s promise to advance in the real estate development project in Gimhae, South Gyeongsang Prov
IndustryDec. 9, 2012
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Financial firms face bumpy road amid low growth
South Korea’s financial firms are expected to fare poorly next year and possibly for some years to come as the economy is experiencing a low-growth trend with a low-rate policy, the financial regulator said Sunday.The Financial Supervisory Service forecast that financial companies here will likely underperform in 2013, with a substantial number of players to swing losses in the following years should the low-growth and low-rate pattern continue.“The financial sector grew at 6 percent in 2010 and
Dec. 9, 2012
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Shares likely to inch up this week
South Korean stocks are likely to edge up this week on hopes that the United States could reach a compromise to avert the fiscal cliff of automatic tax hikes and spending cuts.South Korea’s key stock index, the KOSPI, finished at 1,957.45 on Friday, up 1.27 percent from a week earlier, as a management reshuffle in Samsung Group, South Korea’s biggest family-owned conglomerate, generated optimism and China reaffirmed its stance of stable economic growth.Local investors, in addition, are likely to
Dec. 9, 2012
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SKT sees sharp rise in iPhone 5 subscribers
South Korea’s top mobile carrier SK Telecom Co. saw the net number of subscribers sharply rise on the first day that Apple Inc.’s iPhone 5 made its debut in Korea, industry data showed Sunday.Apple’s iPhone 5 made its belated debut in South Korea on Friday with SK Telecom Co. and KT Corp., Korea’s two biggest mobile carriers, kicking off the release of the first iPhone that runs on the Long Term Evolution network.SK Telecom lured a net 9,555 subscribers on Friday while its rivals KT Corp. and LG
Dec. 9, 2012
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Government likely to cut 2013 growth outlook
The South Korean government is likely to cut its 2013 estimate for economic growth to the 3-percent range as downside risks at home and abroad will weigh on the economy, officials said Sunday.The government earlier forecast that Asia’s fourth-largest economy would grow 4 percent next year, much rosier than outlooks presented by the central bank and private think tanks.“I think that we have to consider the weak growth in the third quarter (in adjusting the growth forecast). The government is taki
Dec. 9, 2012
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SK Group inks biz tie-up with buyout fund Carlyle
South Korea’s No. 3 conglomerate SK Group said Sunday it has agreed to team up with U.S. buyout fund Carlyle Group as part of its push into overseas investments.SK Group said that it has clinched a strategic partnership with the U.S. private equity fund in a bid to strengthen business synergy by combining the group’s expertise in corporate management and energy with Carlyle’s investment skills.“The partnership would pave the way for SK Group to grow as a global portfolio investor,” the group sai
Dec. 9, 2012
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Mercedes looks to blue to make diesel green
The Korea Herald, in cooperation with carmakers, offers a test-driving experience to executive officials at Korean or multinational companies here. The opinion below is the author’s own. For inquiries, please contact jylee@heraldcorp.com. ― Ed. Visually similar to the vehicle Jang Dong-gun called “Betty” in the drama “A Gentleman’s Dignity,” the Mercedes-Benz ML350 BlueTEC that I had the pleasure of driving for a weekend is what you might call Betty’s less wild, economically minded, environment
MobilityDec. 9, 2012
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Little big heroes
When BMW Korea unveiled the second-generation 1 Series in October, CEO Kim Hyo-joon pinned high hopes on the smallest and cheapest BMW model for further growth of the best-selling foreign car brand here. Now two months later, local customers are required to wait for at least four months to purchase the car, according to a BMW Korea spokesperson who would not reveal the specific sales figures, citing company policy.“The 1 Series is favored by younger customers. But it is also true that overall ca
MobilityDec. 9, 2012
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Japanese dealerships in China retrench in wake of disputes
Three months after a territorial dispute led rioters to vandalize Japanese cars in China, automakers from Toyota Motor Corp. to Nissan Motor Co. are luring back buyers with discounts and guarantees. Dealers like William Chen may take more persuasion to invest in the brands. “Sales of Japanese brands plunged about a third at my outlets,” said Chen, whose family owns about 30 showrooms selling Nissan and nine other brands in the eastern city of Taizhou. “I would prefer safer brands over Japanese o
MobilityDec. 9, 2012
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Equus wins U.S. value award
Hyundai Motor’s Equus took first place in the luxury car segment in the 16th annual Strategic Vision Total Value Awards in the United States.“Our flagship sedan Equus beat out competitors such as the Mercedes-Benz CLS, the Audi A8 and the Jaguar XJ,” the company said in a statement Sunday.While Strategic Vision’s Total Value Index reflects all aspects of perceived value ― from quality, to economics to customer appeal ― the Equus also received the award for Best Model and the automaker’s Sonata s
MobilityDec. 9, 2012
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Parents may live longer than childless
A study involving Danish couples found a correlation between childless couples dying earlier than couples with children, researchers said. Researchers at Aarhus University in Denmark studied more than 21,000 couples having in vitro fertilization treatment between 1994 and 2005 -- while 15,210 children were born, 1,564 were adopted, the Daily Telegraph reported. During the study period, 96 women and 200 men died. The study, published in the Journal of Epidemiology and Community Health, found the
TechnologyDec. 9, 2012
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S. Korea likely to cut 2013 growth outlook
The South Korean government is likely to cut its 2013 estimate for economic growth to the 3-percent range as downside risks at home and abroad will weigh on the economy, officials said Sunday.The government earlier forecast that Asia's fourth-largest economy would grow 4 percent next year, much rosier than outlooks presented by the central bank and private think tanks."I think that we have to consider the weak growth in the third quarter (in adjusting the growth forecast). The government is taki
Dec. 9, 2012
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S. Korea to gradually raise pension eligibility age to 65
South Korea will gradually increase the age of eligibility for public pensions to 65 from the current 60, the country's national pension fund said, in what could be a move to ease the government's financial burden from the retiring population. The age for a retirement pension will be 61 years in 2013 and increase one year every five years to reach 65 years in 2033, the National Pension Service (NPS) said on its Web site.People born between 1953 and 1956 will become eligible to claim their benefi
Dec. 8, 2012
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S. Korea, U.S. to boost cooperation on shale gas
South Korea and the United States have agreed to step up cooperation on shale gas, an increasingly popular source of energy, a visiting top Seoul official said Friday."In a meeting with U.S. Secretary of Energy Steven Chu yesterday, I had a lot of discussions on cooperation in the shale gas sector," South Korean Knowledge Economy Minister Hong Suk-woo told reporters. His ministry handles trade, energy and industry affairs. He is on a trip here for the U.S.-Korea Investment and Trade Cooperation
IndustryDec. 8, 2012
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Korean consortium to build solar farm in Japan
A consortium comprising four South Korean firms said Friday that it has signed a preliminary deal to build a solar farm in Japan.Under the deal, STX Solar Energy Co. and the Korea South-East Power Co., a unit of the state-run Korea Electric Power Corp., and two other South Korean firms will construct and operate the solar farm in Sendai with a capacity of 45MW, according to the consortium.Sendai in northeastern Japan is one of the areas that was hit hard by the unprecedented quake in March 2011.
IndustryDec. 7, 2012
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Seoul orders ships to change routes on N.K.’s rocket path
South Korea has instructed domestic and foreign ships to reroute their courses in the West Sea to avoid any possible collisions with falling debris from a long-range rocket that Pyongyang could launch, the government said Friday.The precautionary move comes as North Korea informed the International Maritime Organization and the International Civil Aviation Organization that it will fire off the Unha-3 rocket between Dec. 10-22 during the hours of 7 a.m. and noon to put a satellite into orbit.The
Dec. 7, 2012
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Shares up on eased U.S. budget woes
South Korean stocks finished up 0.4 percent Friday as investors scooped up large-cap shares on signs of progress in the U.S. fiscal cliff negotiations, analysts said. The local currency gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index gained 7.83 points to 1,957.45. Trading volume was moderate at 405.9 million shares worth 4.26 trillion won ($3.94 billion) with gainers outnumbering losers 409 to 391.“The U.S. policy makers showed somewhat strong determination
Dec. 7, 2012
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Hyundai’s Santa Fe named ‘safest car of the year’
Hyundai Motor said Friday that its flagship sport utility vehicle Santa Fe has been named the safest vehicle of the year by the Ministry of Land, Transport and Maritime Affairs. The Korea Automobile Testing and Research Institute, sponsored by the ministry, carried out the New Car Assessment Program on 11 Korean and imported cars launched this year. Of them, the Santa Fe, the first SUV equipped with the seven-airbag system, received the highest safety rating in various crash tests and safety of
IndustryDec. 7, 2012
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Import car sales expected to increase by 8 percent in 2013
Import car sales, led by smaller, cheaper models, are expected to continue their growth momentum next year, a business lobby for foreign carmakers here said Friday. The Korea Automobile Importers and Distributors Association, or KAIDA, predicted new registrations could reach 143,000 units next year, about 8 percent growth from this year. The growth rate is lower than the more than 20 percent growth of the market this year that was driven by the free trade pacts with the U.S. and EU, consumption
IndustryDec. 7, 2012