Most Popular
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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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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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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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More med professors to take day off each week while govt. urges them to stay
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Large firms suffer from increased intellectual property violations in 2011
Violations of intellectual property rights held by South Korea‘s large conglomerates grew in 2011 though the overall number of intellectual property violations dropped from a year earlier, a report showed Wednesday.The portion of large companies whose intellectual property rights were infringed upon grew from 3.2 percent in 2010 to 5.3 percent last year, according to the report released by the Ministry of Knowledge Economy.The portion for all companies and institutes with intellectual properties
IndustryDec. 26, 2012
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Too much eating like jet lag to body clock
Excessive eating and drinking disrupts the body‘s clock similar to jet lag, U.S. researchers say.Dr. Louis Ptacek of the University of California, San Francisco, who is a Howard Hughes Medical Institute investigator, said the protein PKC is critical in resetting the food clock if eating habits change.The study, published in the journal Proceedings of the National Academy of Sciences, showed normal laboratory mice given food only during their regular sleeping hours would adjust their food clock o
TechnologyDec. 26, 2012
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Debit card issuance tops 100 mln this year
The number of debit cards issued in South Korea surpassed 100 million in the first 11 months of the year as a growing number of consumers used them because they offer more tax benefits than credit cards, industry sources said Wednesday.The number of debit cards issued in the January-November period reached 100.2 million, up 1.46 percent from 98.7 million for all of last year, according to the sources.The increase was attributed to greater tax incentives provided by debit cards. The income tax de
IndustryDec. 26, 2012
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Seoul shares open higher on exporter gains
South Korean stocks got off to a strong start on Wednesday, buoyed by gains in key exporters, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.48 points, or 0.68 percent, to 1,995.3 in the first 15 minutes of trading.Blue chips shored up the KOSPI, with market bellwether Samsung Electronics adding 0.75 percent and the country‘s top automaker Hyundai Motor rising 0.9 percent.The local currency was trading at 1,073.55 won to the U.S. dollar as of 9:15 a.m., up 0.65
Dec. 26, 2012
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S. Korea's consumer sentiment stays below par for 5th month in Dec.
South Korean consumers’ confidence stayed below par for the fifth straight month in December as the economy loses steam on weak domestic demand, the central bank said Wednesday.The consumer sentiment index -- a gauge of consumers‘ overall economic outlook, living conditions and future spending -- came in at 99 for December, unchanged from the previous month, according to a monthly survey by the Bank of Korea (BOK).A reading below the benchmark 100 means pessimists outnumber optimists. The survey
Dec. 26, 2012
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Telecoms unveil new tool to fight Kakao Talk
The country’s three mobile carriers will team up and introduce a new communications service named “joyn” on Wednesday to compete with top mobile messenger Kakao Talk.SK Telecom, KT and LG Uplus all announced Tuesday that they will release the Rich Communication Suite, which allows people to use a number of communication services ― such as Rich Call, Rich Messaging and Rich Phonebook ― in an integrated manner.Users who have downloaded the joyn service will be able to send messages up to 5,000 cha
IndustryDec. 25, 2012
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Smartphone hotel check-in service debuts
A 30-year-old Korean woman checked in at a hotel in downtown Seoul, but did not receive a room key. Instead, she got a hotel-owned smartphone for her reserved room.The woman, whose family name is Lee, used the smartphone to unlock the door and control the indoor temperature as well as the lights and television.Lee was also able to call maintenance to make up the room or ask them not to disturb her by simply activating a mobile application and touching the screen, without having to make a call or
IndustryDec. 25, 2012
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Debt-to-GDP ratio of Korea remains far below average of OECD states
The news that the Korean government’s debt amounted to 468.6 trillion won last year under new global accounting rules stunned the public. But financial officials downplayed the concern, presenting a comparative figure of the debt-to-GDP ratio of OECD member countries.The data showed that the Korean government’s debt-to-GDP ratio remained far lower than that of many other advanced countries such as the U.S., Japan and Germany.Japan topped the list with 205.3 percent. The average ratio for OECD me
Dec. 25, 2012
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Big firms’ 2013 employment similar to 2012: poll
New employment by South Korea’s top 500 companies next year is forecast to be similar to that of this year despite a prolonged global economic slowdown, a poll showed Tuesday. According to the survey of 500 companies conducted by the Korean Chamber of Commerce and Industry, the top 288 companies by sales said that they will employ 32,521 people next year, a mere 1.3 percent drop from 32,936 people this year. By industry, recruitment by textile, food, machinery, steel, shipbuilding and petrochemi
Dec. 25, 2012
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Daewoo Shipbuilding wins 1.9tr won order
Daewoo Shipbuilding & Marine Engineering Co., a South Korean shipbuilder, said Tuesday that it has obtained a 1.9 trillion won ($1.8 billion) order to manufacture a fixed platform from Statoil ASA of Norway. Under the deal, Daewoo Shipbuilding will complete the fixed platform, a type of offshore platform used for the production of oil or gas, by the end of 2016, the South Korean shipbuilder said. The 31,000-ton fixed platform, which will produce 80,000 barrels of crude a day, will be installed o
IndustryDec. 25, 2012
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IPOs, rights offerings hit lowest level since 1997 crisis
The value of initial public offerings and rights offerings on the South Korean stock market this year hit the lowest level since the 1997 Asian financial crisis, according to industry data. IPOs on the local stock market stood at 466.4 billion won ($434.5 million) so far this year, the lowest level since 1998 when they came to 300 billion won due to fallout from the 1997 crisis, according to data by the Financial Supervisory Service and the Korea Exchange. Rights offerings reached 1.65 trillion
Dec. 25, 2012
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Financial sector to scrimp, eye overseas
The local financial sector plans to tighten its belt once again to prepare for a lackluster economy amid sluggish business conditions in the global markets. Costs will be kept to a minimum and efficiency maximized, while at the same time, financial companies will focus on increasing their overseas reach to develop new sources of profit, industry sources said on Tuesday. This won’t be the first time the sector has tried to streamline its operations, but sources said the situation could be a bless
Dec. 25, 2012
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Hyundai-Kia’s hybrid sales surpass 100,000 units
Hyundai Motor Group has seen its accumulated sales of eco-friendly hybrid cars surpass the 100,000 mark recently, a milestone that comes just three years after their launch. According to industry sources on Tuesday, Hyundai Motor and its affiliate Kia Motors sold 106,450 hybrid vehicles both in the domestic and foreign markets as of November since July 2009. This year alone, their hybrid car sales reached 56,203 units, a 69.1 percent jump from the same period last year. The two carmakers have in
IndustryDec. 25, 2012
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Park backs voluntary shared growth push
Following is the fifth in a series of articles on President-elect Park Geun-hye’s key policies. ― Ed. Political parties, regardless of their political inclination, have called for better protection of neighborhood mom-and-pop shops, namely those who are struggling to compete against franchise stores owned by large conglomerates. After numerous failed attempts by past and present governments, President-elect Park Geun-hye has also come up with diverse measures to support small businesses. In a se
IndustryDec. 25, 2012
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Zodiac sign of the snake spells good luck for execs
Ancient oriental wisdom says having a snake in the house is a good omen because it means the family will never starve. The snake in this case indicates individuals born under the zodiac sign of the “snake,” and if the saying is anything to go by, it looks as though there are some snake-borns who most definitely won’t be starving anytime soon. Analyses of the local stock markets showed that there were some 456 billionaires in Korea who were born under the sign of the snake, according to Chaebul.c
IndustryDec. 25, 2012
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New oversupply to lead high vacancy rate in office market
Cushman & Wakefield, the world’s largest privately held real estate firm, presents the 2013 Seoul Office Market forecast and summarizes its key findings on three major office districts. Excessive new supply of Grade A buildings resulted in a high vacancy rate in 2011. Abundant new supply led to advantages for tenants, including rent-free periods. However, the concession packages have moderated through the third quarter of 2012 due to demand recovery. Leasing activity remained healthy during the
Dec. 25, 2012
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Branding: From good to smart
“Don’t be evil” was the corporate philosophy adopted by Google, the company that ranked 4th place in the 2012 Best Global Brands Report by Interbrand. This simple sentence reflects the company’s philosophy for pursuing profit without compromising services or loyalty to their clients. This year, Google was worth 26 percent more than last year, with its asset value reaching $69.7 billion. The figure reflects the effectiveness of strong branding. Google’s brand image is as a “search engine that off
Dec. 25, 2012
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Air France offers ‘art of French living’
Renowned for its high standard of attentive service, Air France’s business class has evolved along with customers’ changing taste to present the art of French living. From its cabin amenities to its exquisite meal service, the airline company stresses refinement, modernity and comfort in its services. Operating more than 1,500 flights per day, the French carrier launched its new business class seats in 2011 that is now available on flights to more than 25 destinations. Spacious, comfortable and
Dec. 25, 2012
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Samsung reaches world’s top spot, spearheaded by Galaxy S3 smartphone
With Samsung Electronics recently selling over 100 million mobile phones around the world every quarter, its flagship smartphone Galaxy S3 has taken the leading position.Since its launch in May this year, a total of 30 million units of the Galaxy S3, which comes with a 4.8-inch display, have been purchased worldwide in its first five months on the market, according to U.S. market research firm Strategy Analytics.Boosted by its flagship smartphone, Samsung’s global share took up 27.2 percent of t
IndustryDec. 25, 2012
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KB’s GOLD&WISE leads private banking for a decade
KB Kookmin Bank’s private banking brand GOLD&WISE has won The Korea Herald’s Best Brand Award in the private banking segment in both halves of this year. GOLD&WISE has been a market leader ever since it was launched 10 years ago. It runs 23 centers across the country including four large private banking centers. Located in landmark buildings ― Gangnam Finance Center and Center One in Myeong-dong ― the Star PB Centers have top-notch financial hardware as well as excellent private-banking staff.Wi
Dec. 25, 2012