Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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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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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Medical reform committee kicks off despite boycott from doctors
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Mars radiation levels not lethal to humans
The Mars rover Curiosity found radiation levels on Mars are not lethal to humans, U.S. researchers say."Absolutely, astronauts can live in this environment," said Don Hassler, principal investigator for the rover's Radiation Assessment Detector, at a news conference Thursday.Hassler said characterizing the radiation on the surface of another planet has never been done before now, CNN reported.Researchers plan to collect radiation numbers over time to create a better assessment of exactly how muc
TechnologyNov. 18, 2012
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High radiation found in Fukushima's fish
Fish caught near Japan's Fukushima nuclear power plant have radiation levels 100 times higher than normal, officials say.Japan's Environment Ministry carried out a study that found fish caught near the plant had more radiation than fish caught elsewhere, RIA Novosti reported.The levels found ranged from 4,400 becquerels per kilogram to 11,400 becquerels per kilogram, against the maximum "safe" level of 100 becquerels per kilogram.The findings have prompted a government investigation into the phy
IndustryNov. 18, 2012
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LG Electronics spend 6 pct of sales in research
South Korean handset maker LG Electronics Inc. said Saturday it spent more than 6 percent of its earnings on research and development through September of this year in a bid to develop high-end products.The company said it had allocated 2.26 trillion won (US$2.08 billion), or 6.06 percent of its sales of 37.4 trillion won earned during in the January-September period, up 1.1 percentage points from a year earlier.Market watchers said South Korea's No. 2 tech giant increased its research fund to d
Nov. 17, 2012
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Higher won dents smaller exporters' business sentiment
Almost nine out of 10 of the country's small and medium-sized enterprises (SMEs) believe the rising local currency against the U.S. dollar will result in a weaker bottom line, data showed Saturday.According to a survey of 112 local SMEs by the Korea Federation of Small and Medium Business, 88.2 percent replied the higher won will have an adverse impact on their earnings.The local currency closed at 1,092.20 won against the greenback on Friday, remaining below the 1,100 won mark since Oct. 25, wh
BusinessNov. 17, 2012
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Seoul shares likely to stay flat next week
The South Korean stock market is likely to be stagnant next week as uncertainties over the U.S. fiscal cliff continue to dent investor sentiment, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,860.83 this week, down 2.29 percent from the previous week, as shares lost ground across the board.Foreign investors went on a selling spree, unloading a net 520 billion won (US$476 million) on the main bourse, with retail investors scooping up a net 80 billion w
Nov. 17, 2012
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LG Electronics spend 6 pct of sales in research
South Korean handset maker LG Electronics Inc. said Saturday it spent more than 6 percent of its earnings on research and development through September of this year in a bid to develop high-end products.The company said it had allocated 2.26 trillion won (US$2.08 billion), or 6.06 percent of its sales of 37.4 trillion won earned during in the January-September period, up 1.1 percentage points from a year earlier.Market watchers said South Korea's No. 2 tech giant increased its research fund to d
IndustryNov. 17, 2012
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Household income up, spending growth tumbles
Annual growth of South Korean households’ monthly income picked up in the third quarter, but their spending grew at its slowest pace in more than three years amid a longstanding economic slowdown, a government report showed Friday.Households’ monthly income averaged 4.14 million won ($3,808) in the July-September period, up 6.3 percent from a year earlier, according to the report by Statistics Korea. In the second quarter, such income grew 6.2 percent from a year ago.Inflation-adjusted household
Nov. 16, 2012
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Seoul, Vienna to expand direct flight services
South Korea and Austria have agreed to significantly increase the number of passenger flights between the countries, Seoul’s transportation ministry said Friday, a move aimed at boosting the countries’ exchanges and lowering travel prices through competition.Currently, only South Korea’s flag carrier Korean Air operates three direct flights between Seoul and Vienna per week, according to the Ministry of Land, Transport and Maritime Affairs.In a two-day aviation meeting held in Austria earlier th
Nov. 16, 2012
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KT’s LTE subscribers exceed 3 million
KT said Friday that the number of its subscribers for the fourth-generation network technology Long Term Evolution service topped 3 million as of last Tuesday.The country’s No. 2 mobile carrier also said that the total number of smartphone owners that use its networks also surpassed the 10 million mark.The two figures were reached 11 months after the company introduced its LTE service named WARP.Being a latecomer in offering LTE services, KT secured 1 million LTE handset owners in June and 2 mil
IndustryNov. 16, 2012
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Bill in favor of taxis stokes controversy
Some lawmakers are pushing to include taxis in the category of public transportation alongside buses and subways, while some say their move is merely to target votes in the Dec. 19 presidential election.Should the bill, aimed at promoting public transportation system, pass the National Assembly, taxis will enjoy more fiscal support by the central and provincial governments.In addition, taxi drivers could be permitted to use bus-only lanes when the laws and regulations are revised.Members of the
IndustryNov. 16, 2012
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Shares down on deepening U.S. fiscal woes, recession
South Korean stocks retreated 0.53 percent Friday as deepening U.S. fiscal woes and concerns about a possible economic recession in the world’s largest economy continued to dent confidence here, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 9.89 points to close at 1,860.83. Trading volume was moderate at 459.1 million shares worth 3.99 trillion won ($3.66 billion) with decliners outpacing gainers 582 to 240.“Investors are awar
Nov. 16, 2012
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Half of foreign asset managers lose money in H1
Nearly half of foreign asset managers operating in South Korea reported a loss in the first half of fiscal 2012, mostly due to the volatile market, industry data showed Friday.According to the data by the Korea Financial Investment Association and the Financial Supervisory Service, 11 out of 23 foreign asset managers, or 47 percent, are estimated to have suffered a shortfall in the April-September period. Foreign asset managers posted a combined net profit of 19.2 billion won ($17.6 million) in
Nov. 16, 2012
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Samsung, Apple prepare for second U.S. patent litigation
Even before finishing their first patent litigation battle in the U.S., Samsung Electronics and Apple are gearing up to face each other in another lawsuit in California involving their latest gadgets: the Galaxy S3 and iPhone 5.According to Bloomberg on Friday, U.S. Magistrate Judge Paul Grewal ruled that Samsung could add Apple’s iPhone 5 to its patent infringement claims and Apple could put the Samsung Galaxy Note 10.1, the U.S. version of the Galaxy S3 and Google’s latest Jelly Bean mobile op
IndustryNov. 16, 2012
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Banks cut spending on social contributions
Commercial banks slashed their spending on social contribution activities again this year.The combined spending on social contributions of the four major banks ― Woori, KB Kookmin, Hana and Korea Exchange ― for this year is projected to stay at 231.7 billion won ($210.6 million), compared with 555.4 billion won three years ago.KB Kookmin has posted a gradual decline in the figure: 131.7 billion won in 2009, 62.8 billion won in 2010, 85.8 billion won in 2011 and 85 billion won in 2012.Woori repor
Nov. 16, 2012
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KEPCO picks acting president as Kim quits
The Korea Power Electric Corp.selected its executive vice president Cho In-kook as acting president of the state-run power supplier, company officials said on Friday.The appointment was made one day after CEO and president Kim Joong-kyum left the company. Kim submitted his resignation earlier this month allegedly due to his conflicts with the government over energy policies.The company said it shifted into a crisis-management mode as the post of president remains vacant. Company officials said t
Nov. 16, 2012
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Korea moves to curb electricity demand
The government launched a full-scale campaign on Friday to secure sufficient electricity reserves, estimating that the nation’s electricity reserves would fall below an alarming level of 2 million kilowatts this winter.“The nation could face an electricity shortage as power demand is expected to soar in a colder winter this year,’’ Prime Minister Kim Hwang-sik said in a statement to the public. He said the government will shift into emergency mode in case the country’s power supply reserve drops
Nov. 16, 2012
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Toddler can’t stop laughing due to rare syndrome
A British boy has a bright smile on his face every day, but not by his will. The two-year-old Elliot Eland was born with Angelman’s syndrome -- a neuro-genetic disorder characterized by intellectual and developmental disability -– that makes him laugh.“When we feel down, Elliot’s laughter keeps us all going; you just have to look at him and his happiness takes over,” Elliot’s mother Gale said in an interview with British media. “The only problem is if Elliot and his big brother, Alex, are playin
TechnologyNov. 16, 2012
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Astronomers see distant ‘born-again’ star
Astronomers say evidence of a dying sun-like star coming briefly back to life after throwing off its gassy shells shows the possible fate our own solar system.The “born-again” star, Abell 30, was captured in a composite of visible images from NASA‘s Hubble Space Telescope and X-ray data from the European Space Agency’s XMM-Newton and NASA‘s Chandra space telescopes, a release from the Paris headquarters of the ESA said Thursday.Astronomers know stars like our sun swell into red giants toward the
TechnologyNov. 16, 2012
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Korean banks to cut spending on social responsibility activities in 2012
South Korean banks are likely to sharply cut their spending on social responsibility activities this year as their earnings are on the decline amid the economic slowdown, industry data showed Friday.Top lender Kookmin Bank and its three other rivals are estimated to spend a combined 232 billion won ($231 million) this year, sharply down by about 60 percent from three years ago, according to the data.A cut in their spending for public welfare came as local banks have suffered from falling earning
Nov. 16, 2012
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Household debt growth hits record low
Household debt growth hit a record low in August as household loans dropped due to the sluggish property market, data showed Thursday. A Bank of Korea report showed that the total household loans from local banks and non-bank institutions reached 649.8 trillion won ($597.2 billion) in August, up by only 4.1 percent year-on-year. It is the slowest growth since October in 2003 when the central bank started to compile related data. The average growth was 6 percent to 8 percent, and hit the highest
Nov. 15, 2012