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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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Medical reform committee kicks off despite boycott from doctors
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Galaxy Note 10.1 chosen to be in Royal Collection
Samsung Electronics confirmed Thursday that its latest Galaxy Note 10.1 was chosen to house Queen Elizabeth II of Britain’s “digital time capsule.”Although the company was not able to confirm the details on how its flagship tablet PC was selected to be included in the Royal Collection, foreign media outlets said it was picked over Apple’s iPad by the Royal Commonwealth Society charity.The Galaxy Note 10.1 is the most recent addition to Samsung’s tablet PC lineup and enables people to use an embe
IndustryNov. 15, 2012
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Hypertension and winter
Blood pressure tends to drop during the summer and increase again in October when the weather gets colder. When the atmospheric temperature decreases, we produce less sweat and our peripheral vessels constrict, increasing the resistance to blood flow. During the winter, the systolic blood pressure increases by 7mmHg and the diastolic blood pressure increases by 3mmHg on average. This change in blood pressure with different atmospheric temperature is more significant in people with hypertension t
TechnologyNov. 15, 2012
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One in three KOSDAQ firms loses money in Q3
About one-third of South Korean companies listed on the secondary stock market chalked up net losses in the third quarter due largely to a prolonged global economic downturn, data showed Thursday. A total of 260 companies listed on the tech-heavy KOSDAQ market, or 33 percent of the 789 companies surveyed, lost money in the July-September period, according to the data by the Korea Exchange and the Korea Listed Companies Association.Currently, 882 companies are registered with the minor bourse.Thi
Nov. 15, 2012
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Hyundai E&C wins $2.06b order from Kuwait
Hyundai Engineering & Construction Co., South Korea’s leading builder, said Thursday that it has won a $2.06 billion deal to build a bridge in Kuwait with a local firm.Under the contract with Kuwait’s Minister of Public Works, Hyundai E&C will build a 36.14 kilometer-long bridge from Shuwaikh Port near Kuwait City to Subiyah in the central region, said the company in a filing.The South Korean builder will have a 78.5 percent stake in the $2.62-billion project, or $2.06 billion, while Kuwait’s Co
Nov. 15, 2012
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Eximbank raises $1b via global bond sale
The state-run Export-Import Bank of Korea said Thursday it has raised $1 billion by issuing dollar-denominated bonds to help finance local exporters.The 3-year bonds were sold at a rate of 0.98 percentage point above three-year U.S. Treasuries, the policy lender said in a statement. Proceeds from the debt sale will be used to provide funds to local exporters competing with global counterparts in the Middle East, it said. The majority of the debts were sold to investors from the United States and
IndustryNov. 15, 2012
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Shares dip 1.23% on persistent uncertainties
South Korean stocks dropped 1.23 percent Thursday as investor sentiment was muted by widespread uncertainties over the stalled U.S. budget deal and European fiscal woes, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 23.32 points to close at 1,870.72. Trading volume was moderate at 446.2 million shares worth 4.14 trillion won ($3.8 billion) with decliners far outnumbering gainers 608 to 230.“Investors are worried about u
Nov. 15, 2012
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Target of ‘shared growth’ may include banks
Commercial banks are likely to be included in the government’s assessment list of firms paying attention to “shared growth” with subcontractors.Some officials of the Commission of Shared Growth for Large and Small Companies said the agency was considering expanding its yearly assessment target to the banking sector as early as 2013.Other sectors including medical institutions could also be placed on the authorities’ watch list, they added.In the commission’s first unveiling of the assessments of
IndustryNov. 15, 2012
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Samsung to top W200tr in sales this year
Samsung Electronics is expected to top 200 trillion won ($183.97 billion) in yearly sales for the first time this year thanks to its strong growth in worldwide smartphone shipments.According to financial information provider FnGuide on Thursday, the world’s top smartphone maker is also estimated to post about 28.6 trillion won in operating profit by the end of this year.The provided data showed that Samsung would take up 12.2 percent of 138 listed firms’ yearly sales figures and 24 percent of th
IndustryNov. 15, 2012
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Retail giants agree to avoid opening new stores in small cities
The nation’s top supermarket chains voluntarily agreed on Thursday that they will not open any new branches in cities with a population of less than 300,000 until 2015. Chains of super supermarkets, mid-sized grocery stores run by the nation’s leading retail business groups, also promised to rein in their pace of opening new branches in small cities with a population of less than 100,000 until 2015.Both supermarket chains and SSMs also agreed to close their shops at least two days per month. The
Nov. 15, 2012
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Firms brace for restructuring
About 15 percent of the nation’s 600 major enterprises said they plan to conduct corporate restructuring amid growing uncertainties at home and abroad next year, a poll showed Thursday.According to a survey on the 600 largest firms ― in terms of sales scale ― by the Federation of Korean Industries, 62 percent of the respondents said the business environment was projected to worsen next year.The FKI, a business lobby, said it has found that 15 percent of the respondents are mapping out plans for
IndustryNov. 15, 2012
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Hanwha E&C sets new milestone in overseas markets
Hanwha Engineering and Construction may be a latecomer in overseas construction markets. But it is Korea’s fastest growing builder, and has seen its accumulated orders exceed those of its Korean rivals this year. Hanwha E&C, a construction unit of Hanwha Group, said Wednesday that it has signed a $585 million deal to build an oil refinery and terminal in Saudi Arabia. Under the deal with Saudi Aramco, the world’s biggest oil producer, Hanwha will build the terminal that can process 400,000 barre
IndustryNov. 15, 2012
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Gaps in prices of outdoor brands puzzle shoppers
South Korea’s outdoor sportswear market is growing explosively, and so is confusion about what is worth what. Brands in the nearly 5 trillion won ($4.6 billion) market are polarizing in terms of price; the high-end insists that the materials used in its products are inarguably the best, while the relatively low-end argues that its materials are not any less good. Consumers are lost and confused. “I was planning to buy matching mountain-climbing jackets for my parents, but gave up because I could
IndustryNov. 15, 2012
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Health expert suggests ‘license to smoke’
Health officials all around the world have introduced a variety of policies to reduce smoking rates: warning labels and graphic, almost grotesque images on cigarette packs, campaigns, and many countries including South Korea have banned or are pushing to ban smoking in public places.One researcher from Australia, however, has gone so far as to say people should carry a license if they want to buy cigarettes.Simon Chapman, a professor of public health at the University of Sydney, said it is possi
TechnologyNov. 15, 2012
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Seoul shares dip 1.23 pct on persistent uncertainties
South Korean stocks dropped 1.23 percent Thursday as investor sentiment was muted by widespread uncertainties over the stalled U.S. budget deal and European fiscal woes, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 23.32 points to close at 1,870.72. Trading volume was moderate at 446.2 million shares worth 4.14 trillion won ($3.8 billion) with decliners far outnumbering gainers 608 to 230."Investors are worried
Nov. 15, 2012
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Countries ranked for cigarette warnings
An international report released by the Canadian Cancer Society ranked Australia for best cigarette package health warnings, officials say.The report ranked 198 countries and jurisdictions on the size of their health warnings on cigarette packages. Australia led all the countries with more than 82 percent of their cigarette packages covered with health warnings, followed by: 80 percent in Uruguay, 80 percent in Sri Lanka, 75 percent in Canada and 75 percent in Brunei. The report was released at
TechnologyNov. 15, 2012
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New, stronger cyberthreats seen for 2013
Georgia Tech researchers, in a cyberthreat forecast for 2013, warn new and increasingly sophisticated means to capture and exploit user data will be seen.The report was released at the annual Georgia Tech Institute of Technology Cyber Security Summit, a gathering of industry and academic leaders in the field of cybersecurity.Specific threats predicted for the coming year include cloud-based botnets of virtual attack systems, manipulation of search-engine algorithms and other automated mechanisms
TechnologyNov. 15, 2012
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Household loan growth hits record low in August
Household loans extended by South Korean financial firms grew at the lowest pace ever in August as the property market remained in the doldrums amid the economic slowdown, data showed Thursday.Household lending extended by local banks and non-bank institutions totaled 649.8 trillion won ($597.2 billion) as of the end of August, up 4.1 percent from the previous year, according to the Bank of Korea.The August growth rate marked the slowest gain since October 2003 when the central bank began to com
Nov. 15, 2012
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‘Homeless’ planet without a star found
MONTREAL (UPI) -- A “homeless” planet that is not orbiting a star and thus is free of any gravitation link has been discovered, Canadian and European astronomers are reporting.University of Montreal researchers and European colleagues said it is the first isolated planet of its kind ever to be observed.“Although theorists had established the existence of this type of very cold and young planet, one had never been observed until today,” astrophysicist Etienne Artigau said in a University of Montr
TechnologyNov. 15, 2012
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Job creation slows down in October
South Korea’s labor market growth remained sluggish as job creation slowed in October compared to the previous month, according to a government report. Statistics Korea’s report released on Wednesday showed that the total number of employed last month was 25.07 million, with about 396,000 new jobs added to the economy. Job growth had reached 685,000 in September, the biggest figure in a decade. The employment rate in the manufacturing sector, however, increased by 3.6 percent year-on-year. By Pa
Nov. 14, 2012
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Scholarship foundation vows to have Asia’s biggest fund
The biggest scholarship foundation in Asia, with a 1 trillion won ($1.1 billion) fund, will be launched in Korea within three years, according to plans by Kwanjeong Educational Foundation, which runs the nation’s biggest scholarship fund.SamYoung Chemical chairman Lee Chong-hwan, who established the foundation in 2000, said on Sunday that he would make additional contributions to the foundation to expand the current 800 billion won ($730 million) fund to 1 trillion won within three years. “With
Nov. 14, 2012