Most Popular
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Yoon’s jailed mother-in-law excluded from latest parole list
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Hybe's multilabel system tested amid conflict with Ador
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Aging population to drive down Korea's housing prices from 2040: experts
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Obesity, hypertension on the increase
The risk of obesity, hypertension and diabetes among the Korean population is rising, possibly due to lack of exercise and excessive sodium intake, the government said in a report released on Monday. According to a joint report by the Ministry of Health and Welfare and the Center for Disease Control and Prevention, the prevalence rates of high blood pressure and diabetes in people over 30 years old were 28.5 percent and 9.8 percent in 2011, respectively, a slight increase from 26.9 percent and 9
TechnologyNov. 19, 2012
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Naro space rocket launch likely on Nov. 29
South Korea will likely launch a space rocket next Thursday, the government said Monday, two days after the arrival of a replacement for a defective part in the rocket partly built by Russia.“When considering the time needed to thoroughly examine the new part and prepare for a launch, Nov. 29 is technically the most suitable for a third launch of the Naro rocket,” the Ministry of Education, Science and Technology said in a press release.The ministry added the Launch Preparation Committee will be
Nov. 19, 2012
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Samsung files suit against LG’s patents on OLED
Samsung Electronics Co. of South Korea has filed a lawsuit against LG Display Co., the world’s No. 2 maker of liquid crystal displays, seeking the invalidation of some of the latter’s patents on organic light-emitting diode panel technologies, company officials said Monday.In the suit filed with a local intellectual property tribunal, Samsung claimed that seven patents held by LG Display are invalid as they lack innovation.In September this year, LG Display filed a suit against tech giant Samsun
Nov. 19, 2012
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LS Cable & System wins $435m order from Qatar
LS Cable & System, a leading South Korean wire and cable maker, said Monday it has signed a $435 million deal to build a submarine power cable in Qatar.Under the deal with Qatar Petroleum, the Gulf state’s state-run energy company, LS Cable & System will install 200 kilometers of 132 kV high-voltage power cable to connect Ras Laffan Industrial City, about 80 kilometers north of Qatar’s capital of Doha, to Halul Island.The South Korean cable maker won the turnkey project by beating a consortium o
Nov. 19, 2012
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KT&G to launch Tonino Lamborghini overseas
The nation’s best-selling tobacco manufacturer KT&G Corp. will export 300,000 packs of its premium tobacco brand “Tonino Lamborghini” to Hong Kong by the end of November. KT&G has already sold “Tonino Lamborghini” in Chinese duty-free shops since September, with its first import order at 488,000 packs. China and Hong Kong together form the largest, most competitive tobacco market in the world, the company said. “From the beginning, Tonino Lamborghini was meant to be launched worldwide,” a KT&G o
TechnologyNov. 19, 2012
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Shares gain on eased fiscal cliff woes
South Korean stocks closed 0.93 percent higher Monday as waned fear over the U.S. fiscal cliff whetted investor appetite, analysts said. The local currency gathered ground against the U.S. dollar. The Korea Composite Stock Price Index rose 17.27 points to finish at 1,878.10. Trading volume was light at 345.7 million shares worth 3.20 trillion won ($2.93 billion) with advancers outstripping decliners 600 to 236. “Talks between President Obama and the Congress over the fiscal cliff last week refle
Nov. 19, 2012
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Law change lets KAMCO manage Ssangyong E&C
Ssangyong Engineering & Construction will continue to operate under the government after the state-run Korea Asset Management Corp. failed several times to find a new owner for the ailing firm.As ministers agreed on a law revision on assets belonging to the state at a recent Cabinet meeting, the government is entitled to own Ssangyong E&C over the coming years even if the sale process led by KAMCO fails again.Under the initial law, KAMCO was banned from holding its stake in Ssangyong E&C after 2
IndustryNov. 19, 2012
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Households’ financial soundness worsens: data
The financial health of South Korean households has deteriorated for a third consecutive year, with the default rate in the low-rated group rising fast amid an economic slowdown, data showed Monday. An index measuring households’ credit soundness came to 99.73 in the January-June period, compared with 101.12 and 100.49 tallied in 2010 and 2011, respectively, according to the Korea Credit Bureau, a local credit appraiser. The assessment of household’s financial health by the KCB is based on relat
Nov. 19, 2012
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Korean Air to expand aerospace business
Korean Air is speeding up efforts to nurture the aerospace business as its future growth engine, unveiling on Monday a plan to create a 1-million-square-meter industrial cluster in Busan by 2020. Adding to its existing 710,000-square-meter tech center, established in 1976, the nation’s largest flag carrier plans to set up a new 230,000-square-meter center and related facilities at another 150,000-square-meter site in the coming years.Korean Air is the only air carrier in the world that both prod
IndustryNov. 19, 2012
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Hyundai Motor matches BMW for profitability
Hyundai Motor saw its profitability match the level of BMW, far outperforming several major automakers such as Volkswagen and General Motors.Hyundai Motor’s ratio of operating profit to revenue in the vehicle sector came to 10.91 percent during the third quarter, which is nearly equivalent to the 10.94 percent of BMW.Few carmakers are enjoying a double-digit figure, and Volkswagen and GM recorded below 7 percent.Market insiders say it is noteworthy that Hyundai Motor, whose main products are aim
IndustryNov. 19, 2012
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‘Less is more’ is Puma Korea’s key strategy
Wearing a pair of sneakers or a t-shirt with the Puma logo was a sure-fire way to be “in” among teenagers here about a decade ago. Cheesy knock-offs reading “Pama” or “Fuma” were easily spotted on the streets, reflecting the popularity of the German brand. During the past few years, however, the fever has waned. Olivier Lorans, general manager of Puma Korea, said that he is well aware of this, and has plans to win back the teens. “During those couple of years, it was not clear what the brand sto
IndustryNov. 19, 2012
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Unfamiliar scents open up purses
The nation’s imported perfume market is not only untouched by the extended economic slowdown ― it’s enjoying its heyday. Sales of imported perfumes are soaring at local department stores, up about tenfold compared to those of cosmetic products which dropped hard this year. The spotlight is not on the licensed perfumes produced by luxury brands like Gucci, Chanel or Dior, but rather on the recently launched “premium” perfumes such as Joe Malone or diptyque, which are less familiar and more expens
IndustryNov. 19, 2012
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Samsung founder’s commemoration event tainted by family discord
YONGIN, Gyeonggi Province ― The late Samsung founder Lee Byung-chull’s 25th commemoration ceremony was marred on Monday by family discord caused by an inheritance lawsuit.Samsung Electronics chairman Lee Kun-hee and his family members including heir apparent Lee Jay-yong, and about 100 Samsung senior executives paid their respects to the founder at around 11 a.m. at the family burial ground in Yongin.Hong Ra-hee, chairman Lee’s wife and chief of Ho-Am Art Museum, and Lee’s two daughters Boo-jin
IndustryNov. 19, 2012
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Pollution hurts brain function in elderly
Living in areas of high air pollution is an environmental risk to seniors' brain health and function, U.S. researchers found."The study shows the unexpectedly adverse effects of air pollutants on brain function in the elderly," Caleb Finch, the ARCO/William F. Kieschnick Professor in the Neurobiology of Aging at the University of Southern California at Davis, said in a statement.Jennifer Ailshire -- a sociologist, demographer and postdoctoral student at the USC Davis School of Gerontology -- sai
TechnologyNov. 19, 2012
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The brains behind freestyle rap
Freestyle rap, an improvised style of the music genre associated with back-to-front baseball caps, baggy jeans and gold chains, has burst onto the science stage, shedding light on the workings of the brain.Researchers at the National Institute on Deafness and other Communication Disorders in the United States have examined freestyle rappers' brains to see which areas light up during the creative phase.The stream-of-consciousness singing style involves artists making up lyrics on the spot, guided
TechnologyNov. 19, 2012
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Seoul shares start higher on U.S. gains
South Korean stocks opened higher Monday as investor sentiment was boosted by last week's gains on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.77 points, or 0.74 percent, to trade at 1874.60 in the first 15 minutes of trading.Shares gathered ground across the board, with market bellwether Samsung Electronics increasing 0.84 percent and leading carmaker Hyundai Motor adding 0.46 percent. Top builder Hyundai Engineering & Construction climbed 1.15
Nov. 19, 2012
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Overseas construction orders top $50 bln for 3rd year
Overseas orders won by South Korean builders surpassed $50 billion for the third straight year in 2012, due to increased demand from the Middle East, Latin America and Africa, data showed Monday.Local builders signed deals worth $51.6 billion during the January-November period, up 13 percent from the same period last year, according to the data released by the International Contractors Association of Korea.Still, industry officials said it remained unclear whether the companies could achieve the
IndustryNov. 19, 2012
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Economy, election force companies to slim down
Korea’s corporate landscape is expected to witness some major pruning as companies, most noticeably the conglomerates, are avidly slimming down amid a deepening economic slump worldwide.Politics, however, also may be playing a part in their downsizing, as major presidential candidates are proposing pledges devised to ensure fair competition ― essentially meaning that conglomerates will face more restrictions to give their smaller counterparts a bigger advantage. The country’s top 10 industrial g
IndustryNov. 18, 2012
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Black box-installed cars to get insurance discount
South Korea’s insurance companies are to offer a maximum 5 percent discount on insurance for cars equipped with black boxes, according to industry sources on Saturday. Local insurers including Dongbu Insurance, Meritz Insurance, Hanwha General Insurance, LIG Insurance, AXA Direct and Hyundai Hicar Direct decided to give a discount of 5 percent; Samsung Fire & Marine Insurance 4 percent; and Green Non-life Insurance and Ergo Daum Direct 3 percent. The discount for black-box equipped cars was only
IndustryNov. 18, 2012
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Candidates converge on science policy
The three major presidential candidates may differ on key policies but all believe that Korea’s future depends on science and technology for growth.Their policies in the field converge in many aspects, including plans to revive the ministry for science and technology, as well as increasing support for research and innovation.The Saenuri Party’s Park Geun-hye has the most extensive agenda. An engineering graduate, she prioritizes developing the software industry, supporting start-ups and establis
TechnologyNov. 18, 2012