Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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Tensions heighten ahead of first president-opposition chief meeting
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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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[Music in drama] An ode to childhood trauma
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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Seoul to provide housing subsidy to married couples with newborns
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New head of doctors' association vows war in case of disadvantage to medical professors
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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
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Renault Samsung seeks leap with new SM5
Renault Samsung Motors is eyeing a new leap with its flagship midsize sedan, the SM5. The carmaker recently unveiled the New SM5 Platinum, a facelift version of the third- generation 2010 model. First launched in 1998, the car has been one of the best-selling models in the midsize sedan segment here. The latest model sold 2,200 units only a week after its official launch on Nov. 7.The overall exterior of the new SM5 represents the steady-seller’s futuristic and dynamic makeover. The car has fres
IndustryDec. 25, 2012
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IBK eyes expansion with ‘Asian finance belt’
The Industrial Bank of Korea is seeking to tap into more Asian countries, as part of an overseas expansion beyond its current businesses in China and Vietnam.Its overseas expansion policy is part of the bank’s roadmap to set up the “IBK Finance Belt in East Asia” by 2015.It has a mid-term project of opening bank branches in three Asian countries ― India, Indonesia and Thailand ― in the coming years after initially opening liaison offices.In addition, IBK, which already operates bank branches in
Dec. 25, 2012
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Rumors tip lighter, thinner Apple iPad
Apple is developing a thinner, lighter fifth-generation iPad sharing some design points with the recently released iPad Mini, a Japanese tech blog is reporting.The Macotakara site also said Apple‘s next iPad Mini would feature the high-resolution Retina display many had expected on the first version, CNET reported Monday.The rumored next full-size iPad is another case of the accelerated product life cycle Apple seems to be favoring; the fourth-generation model was released last month, just eight
TechnologyDec. 25, 2012
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Three major mobile carriers slapped with suspension, fines
The Korea Communications Commission decided Monday to slap business suspension penalties and fines on the nation’s three telecoms for having offered excessive subsidies to attract customers.The state telecom regulator agreed on Monday during a general meeting to penalize the three mobile carriers ― SK Telecom, KT and LG Uplus ― which gave out more financial subsidies to the customers than entitled by the law, despite the regulator’s continued warnings.Starting from Jan. 7, the business ban will
IndustryDec. 24, 2012
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Imports of Japanese sake, beer surge: data
Imports of Japanese rice wine sake increased 70 percent this year to a record-breaking level, according to the Korea Customs Service on Monday.Imported beer to Korea also amounted to $68 million, surpassing total local beer exports for the first time, KCS officials said.In data on trade of major liquors unveiled by the agency, total imports of whiskey, wine, beer and sake recorded a total of 115 million liters in January-November, up 15.3 percent fromlast year.With sake being widely recognized b
IndustryDec. 24, 2012
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Shares close almost flat on U.S. fiscal cliff woes
South Korean stocks closed almost flat Monday as investors took to the sidelines amid the prolonged concerns about the U.S. fiscal cliff, analysts said. The local currency inched up against the U.S. dollar.The benchmark Korea Composite Stock Price Index edged up 0.07 percent, or 1.40 points, to finish at 1,981.82. Trading volume was low at 343 million shares worth 3.2 trillion won ($2.98 billion) with gainers outstripping losers 398 to 391. “Local shares traded almost flat as the rising uncertai
Dec. 24, 2012
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Jin Air launches Incheon-Okinawa route
Jin Air Co., an affiliate of South Korea’s largest airline Korean Air Lines Co., said Monday it has launched a regular flight to the southern Japanese city of Okinawa.The debut service departed from Incheon International Airport, west of Seoul, at 10:35 a.m. on Monday and landed in Okinawa at 12:45 p.m.The carrier said it will offer daily morning flights connecting the two cities with the 180-seat B737-800 passenger jet.The latest move raised the number of routes operated by Jin Air to 12 destin
Dec. 24, 2012
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Hollys Coffee to open 100 shops in China by 2014
Hollys Coffee Co., a South Korean coffee shop chain, said Monday it will open 100 shops in China within the next two years as part of its efforts to expand its overseas business.Hollys Coffee said it has signed a franchise rights contract with Dongling Group to open a coffee shop in Shenzhen, southern China, in May next year. It is the third Hollys coffee shop in China and the first in collaboration with the Chinese firm.“We seek to open 100 shops in China in cooperation with Dongling Group by 2
Dec. 24, 2012