Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Shares up on foreign buying
South Korean stocks closed 0.37 percent higher on Monday as foreigners snapped up local shares amid easing eurozone fears and positive economic data, analysts said.The local currency slipped against the U.S. dollar. The benchmark Korea Composite Stock Price Index gained 7.12 points to 1,940.02. Trading volume was moderate at 304.6 million shares worth 3.3 trillion won ($3 billion), with decliners outnumbering gainers 484 to 318. “We saw some positive economic data in China and South Korea as wel
Dec. 3, 2012
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Winter energy-saving campaign kicks off
The government launched an energy-saving campaign for the winter season with related public and private organizations, including the Korea NGO’s Energy Network, on Monday. The launch of the campaign was noticed in advance as a series of breakdowns of nuclear power plants due to different reasons triggered concerns of a power shortage during the winter. The campaign, which will last until Feb. 22, 2013, targets both citizens and large-sized office buildings. For citizens, the campaign will advise
Dec. 3, 2012
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Audi Volkswagen Korea names new chief
Audi Volkswagen Korea said Monday that it has named Johannes Thammer as the new Korean representative of Volkswagen Group, seller of the Audi, Volkswagen and Bentley brands. He will also have the role of managing director of Audi Korea, while Park Dong-hoon remains managing director of Volkswagen Korea, said the Korean unit of the German carmaker. Thammer, born in Germany in 1955, is an automobile expert with more than 30 years of extensive experience ranging from product control to marketing, b
MobilityDec. 3, 2012
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Firms stockpile cash to brace for global economic uncertainties
Corporate coffers in Korea are filling up as nervous local companies cut back on investment spending.The corporate sector has increasingly been tightening its purse strings as the economy has failed to manifest a clear rebound. Instead, companies are opting to keep their coffers filled with cash to prepare for future uncertainties, industry sources said on Monday.“We want to be stocked in cash and liquid assets in case the global economy fails to pick up,” said one executive, declining to be ide
IndustryDec. 3, 2012
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Tax cut helps car sales recover
Korea’s five major automakers including Hyundai Motor sold 778,187 vehicles at home and abroad last month, posting a 8.9 percent on-year increase despite the global economic slowdown.Hyundai Motor said Monday that its vehicle sales at home and abroad logged 420,365 units in November, up 11.9 percent from a year earlier.The largest carmaker in Korea sold 61,608 units in the local market and 358,757 units in the overseas market, reporting 12.6 percent and 11.8 percent on-year growth, respectively.
IndustryDec. 3, 2012
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Foreign financial firms’ earnings nosedive
Foreign financial firms here saw sharp declines in both profit and market share this year, with some packing up to leave the country blaming double regulation and bias in addition to domestic banks’ dominance.Third-quarter net profits of Standard Chartered Bank Korea and Citibank plummeted 64 percent to 40.8 billion won ($37.7 million) and 73.3 percent to 37.1 billion won, respectively, compared to last year.Goldman Sachs Asset Management decided last month to shut down its Seoul office five yea
Dec. 3, 2012
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Missing Pacific island riddle solved: researcher
A New Zealand researcher Monday claimed to have solved the riddle of a mystery South Pacific island shown on Google Earth and world maps which does not exist, blaming a whaling ship from 1876.The phantom landmass in the Coral Sea is shown as Sandy Island on Google Earth and Google maps and is supposedly midway between Australia and the French-governed New Caledonia.The Times Atlas of the World appears to identify it as Sable Island, but according to Australian scientists who went searching last
TechnologyDec. 3, 2012
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Sense of smell key to successful relationship: study
Having an impaired sense of smell can cause trouble when maintaining a relationship because it can cause people to be insecure, according to a new study by European scientists.“It may well be that we are exchanging much more information through body odors than we are aware of,” study co-author Thomas Hummel, from the University of Dresden in Germany, said in an interview with Livescience.com.He added people are “governed by our noses in some ways.”Researchers analyzed data from the people suffer
TechnologyDec. 3, 2012
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Koreans' lifetime medical bill averages 100 mln won
South Koreans spend an average of 100 million won (US$92,421) in medical expenses during their lifetime, a report showed Monday, with the amount likely to rise due mainly to the nation’s fast aging population.The report by the Korea Health Industry Development Institute showed women spend an average of 114.3 million won on hospital bills during their lifetime, while the figure for men came to 95.89 million won. The report is based on a study of the medical expenses of 200,000 people in 2010.Wome
TechnologyDec. 3, 2012
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LG’s Nexus 4 tops Nexus phone poll
The Nexus 4 phone, LG Electronics Inc.’s first smartphone collaboration with Google Inc., has topped a consumer review of the U.S. search giant‘s Nexus smartphone line-up, a poll showed Monday.The Nexus 4 won support from 2,429 people as the best Nexus phone in a survey of 4,891 respondents, according to the recent poll compiled by the smartphone review Web site phoneArena.com.The 4.7-inch phone, released in late October, is the latest addition to the Nexus smartphone line-up. It runs on the And
TechnologyDec. 3, 2012
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Seoul shares open higher on positive economic data
South Korean stocks began higher Monday as positive economic data from South Korea and China offset nagging concerns over the U.S. budget impasse, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.44 percent, or 8.53 points, to 1,941.43 in the first 15 minutes of trading.South Korea's trade surplus widened in November from a month earlier, while China saw its manufacturing purchasing managers' index data rise to a 7-month high.Key exporters led the gain, with market b
Dec. 3, 2012
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S. Korea's consumer prices grow 1.6 pct on-year in Nov.
South Korea's consumer prices grew at the slowest pace in three months in November, indicating that the country managed to keep inflation under control, a government report showed Monday.The country's consumer prices index rose 1.6 percent in November from a year earlier, compared with a 2.1 percent on-year gain in the previous month, according to the report by Statistics Korea. From a year earlier, it dropped 0.4 percent.The core inflation, which excludes volatile oil and food prices, increased
Dec. 3, 2012
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Increased overseas visits push card spending to record high
The prolonged economic slump at home and abroad is prompting consumers, companies and government organizations to tighten their belts. But card spending overseas appears to be going against the trend.According to data from the Bank of Korea, the nation’s overseas credit card payments in the third quarter amounted to about $2.37 billion, setting a new record. BOK officials attributed the overseas card spending increase to the rise in the number of Korean visitors to foreign countries. In the peri
Dec. 2, 2012
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Like trees, lobsters show age in growth rings
For the first time, scientists have figured out how to determine the age of a lobster ― by counting its rings, like a tree.Nobody knows how old lobsters can live to be; some people estimate they live to more than 100.But knowing ― rather than simply guessing ― their age and that of other shellfish could help scientists better understand the population and assist regulators of the lucrative industry, said Raouf Kilada, a research associate at the University of New Brunswick who was the lead autho
TechnologyDec. 2, 2012
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KAIST team uses nanotech to solve vehicle battery problem
Korean scientists have discovered a way to improve the energy output and lifecycle of lithium-ion batteries by applying nanotechnology in the development of lithium manganese oxide for use in cathodes.The materials have been studied over the years as an alternative to lithium cobalt oxide to boost power and life expectancy of rechargeable batteries for electric vehicles.However, the dissolution of manganese during the chemical reaction process to create the compound has shortened the life cycle
TechnologyDec. 2, 2012
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Trade surplus widens to $4.48b in November
South Korea’s trade surplus widened in November from the previous month as exports posted positive growth on the back of steady global demand, the government said Saturday.The country’s trade surplus came to $4.48 billion in November, compared with the surplus of $3.7 billion the previous month, according to the Ministry of Knowledge Economy. The country’s exports grew 3.9 percent from the same month last year to $47.79 billion with imports gaining 0.7 percent on-year to $43.32 billion.The expor
Dec. 2, 2012
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Financial market for retirees to triple until 2020: report
South Korea’s financial market for people preparing for life after retirement is expected to more than triple over the next decade amid rising demand from its fast-aging population, a report showed Sunday.The financial market for private pensions, retirement pensions and other private-sector financial products designed to support retirees will grow to 981 trillion won ($905.8 billion) in 2020 from the 302 trillion won estimated for this year, according to the report by Woori Investment and Secur
IndustryDec. 2, 2012
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Shares expected to be rangebound this week
South Korea’s stock market is expected to remain in a tight range this week as investors wait on the U.S. fiscal cliff issue, analysts said.The country’s key stock index, the KOSPI, gained 21.57 points, or 1.27 percent, last week to close at 1,932.90 on Friday, on hopes that U.S. lawmakers and President Barack Obama will find a compromise on the U.S. fiscal issue.“Until the issue is addressed, investors will remain cautious on betting, and be engaged in trading and just be on the lookout for und
Dec. 2, 2012
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Watchdog to probe cosmetics franchises
The Fair Trade Commission plans to launch a probe into the nation’s franchise business sector in the first quarter next year, starting with cosmetics shops in downtown areas that are sprouting recently due to soaring demand from Asian tourists. “We will look into the franchise sector as many retired people are seeking to start a new business and such trend is spreading to younger generations,” FTC chairman Kim Dong-soo told reporters on Friday. “As soon as we complete our investigation into conv
IndustryDec. 2, 2012
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Korea sweeps global ‘phablet’ market: data
The sales of “phablets,” or large-screen smartphones, manufactured by Korea’s two handset makers ― Samsung and LG ― took up more than 90 percent of the global market, according to a U.S. market research firm.Strategy Analytics said Sunday that Samsung Electronics secured about 78 percent market share in the third quarter. LG Electronics accounted for about 14 percent market share.A combination of “phone” and “tablets,” phablets are touch-screen devices that are larger than smartphones but smalle
TechnologyDec. 2, 2012