Most Popular
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Debate rages over ‘overly fatty’ samgyeopsal
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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Missing S. Korean traveler in Paris found safe after 2 weeks
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S. Korea, China, Japan in talks to hold trilateral summit May 26-27: official
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U.S. scientist claims humans’ intelligence declining
Human intelligence has been on the downtrend for thousands of years because of an accumulated genetic mutation harmful to “intelligence” genes, a U.S. geneticist has claimed.According to a study by Professor Gerald Crabtree, head of a genetics laboratory at Stanford University, intellectual powers of humankind peaked in times of hunter-gatherers, and started deteriorating since the introduction of agriculture.Crabtree argues that since the pressure of survival has lessened, natural selection on
TechnologyNov. 14, 2012
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Korea's launch of space rocket to be further delayed: officials
South Korea's planned launch of a space rocket will likely be further delayed, government officials said Wednesday, as the Russian replacement for a defective part in the Korea Space Launch Vehicle-1 (KSLV-1) is not expected to arrive here until the end of the week.The Ministry of Education, Science and Technology and its Launch Preparation Committee earlier said the launch of the KSLV-1 would take place before Nov. 24.The replacement of the defective part, however, will likely arrive here on Sa
TechnologyNov. 14, 2012
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S. Korea needs to enhance financial stability: BOK head
South Korea should make efforts to enhance its financial stability by tackling volatile cross-border capital flows in a bid to beef up its economic fundamentals, the country's top central banker said Wednesday.Bank of Korea (BOK) Gov. Kim Choong-soo said at a forum in Seoul that Korea should continue its efforts to dispel potential risks lurking in the financial system and draw up measures to smooth out cross-border capital movements.Since 2010, Korea has taken a set of macro-prudential steps as
Nov. 14, 2012
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S. Korea's jobless rate edges down in Oct.
South Korea's jobless rate inched down in October from a month earlier but job creation slowed sharply, raising worries that the labor market conditions remain sluggish, a government report showed Wednesday.According to the report by Statistics Korea, the jobless rate stood at 2.8 percent last month, down from 2.9 percent tallied in the previous month. The number of jobs added to the economy, however, decelerated markedly. About 396,000 jobs were added last month compared with a year earlier, do
Nov. 14, 2012
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Korea’s economy to grow 3.2% next year
The nation’s major economic think tanks and brokerages expect the Korean economy to grow an average of 3.2 percent next year.The forecast by 15 securities companies and think tanks is lower than a growth outlook of 3.6 percent offered by the International Monetary Fund in October.The Finance Ministry projected Korea’s economy to grow at 4 percent, while major foreign investment banks on average expected a 3.1 percent growth rate.Analysts said the think tanks estimated the bearish outlook because
Nov. 13, 2012
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Protectionism defines battle between Samsung, Apple
“Designed for humans.” That’s Samsung tagline for the Galaxy S3, and it’s sure to include all humans, even the Americans, despite Samsung being at legal loggerheads with Apple Inc., one of the most quintessentially American companies around. As Koreans, it’s hard not to be conscious of the nationality of the two companies, and the finale ― particularly how the appeal in the U.S. turns out ― will prove just how significant a part nationality played in this cross-border legal drama that’s just tak
IndustryNov. 13, 2012
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Doosan Heavy takes over water treatment firm
Doosan Heavy Industries & Construction Co., South Korea’s leading power equipment maker, said Tuesday that it has acquired a British water treatment firm in a bid to strengthen its desalination business.Doosan Heavy did not reveal financial terms of the takeover of Enpure Ltd.Enpure, established in early 1970, provides process engineering solutions for the energy, water, solid waste, and industrial sectors, and posted sales of 100 billion won ($91.7 million) in 2011, according to Doosan Heavy.En
IndustryNov. 13, 2012
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LG eyes Latin America LTE phone launch in Q1
South Korean handset maker LG Electronics Inc. said Tuesday it aims to roll out long-term evolution smartphones in the Latin American market in the first quarter of 2013 as part of efforts to bolster its global LTE drive.The company, which has released LTE smartphones in major markets such as Asia, Europe and the U.S., said it plans to release the LTE devices in Brazil, Chile and Mexico in the January-March period at the earliest.The LTE smartphone line-up for the regional market has not yet bee
IndustryNov. 13, 2012
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On-year growth of card use hits record low in August
The on-year growth rate of credit card use in South Korea hit a record low in August as more people refrained from spending money amid the protracted economic recovery, data showed Tuesday.The value of Koreans’ credit card spending amounted to 28.5 trillion won ($26.2 billion) in August, up 2.7 percent from a year earlier, according to the data compiled by the Bank of Korea. The August growth compared with a 13.6 percent on-year expansion tallied in July and marked the slowest gain ever, it adde
IndustryNov. 13, 2012
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Shares slip on uncertainties
South Korean stocks closed 0.59 percent lower Tuesday as growing uncertainties about the looming U.S. fiscal cliff and the persistent eurozone debt woes weighed heavily on the local market, analysts said. The local currency declined against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 11.17 points to close at 1,889.7. Trading volume was moderate at 486.9 million shares worth 3.86 trillion won ($3.64 billion) with decliners outnumbering advancers 609 to 214.“What investors
Nov. 13, 2012
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KT to launch data-sharing plan for users of multiple devices
South Korean telecom titan KT Corp. said Tuesday it plans to introduce a new service and payment program to better cater to a growing number of subscribers who access different connectivity via multiple mobile devices.“The average number of smart devices owned by one person is increasing and the need to share content between the different devices is also increasing,” KT president Pyo Hyun-myung said in a media conference.“The new ‘All-IP (Internet Protocol)’ brand aims to service seamless connec
IndustryNov. 13, 2012
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Microsoft unveils New Office with cloud computing feature
Microsoft Korea Inc. launched its latest suite of programs for word processing and emails for corporate use on Tuesday.New Office for home use will most likely be launched in the first quarter of 2013, two Microsoft officials told The Korea Herald.“I think nearly all the functions in New Office are new in the market,” Microsoft Korea marketing director Kang Hee-sun said, claiming that now is a significant transition period for software and devices. The Korean operation of U.S. software titan Mic
TechnologyNov. 13, 2012
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Samsung, LG sweep CES innovations awards
The country’s IT behemoths Samsung Electronics and LG Electronics swept the innovations awards of the Consumer Electronics Show 2013, its organizers said on Tuesday.The Consumer Electronics Association, which organizes the world’s top electronics trade show, said that a total of 27 Samsung products won the CES 2013 Innovations Award, while LG brought home 10 awards.“The CES Innovations Award highlights the robust innovation within the consumer electronics industry,” said Karen Chupka, senior vic
IndustryNov. 13, 2012
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Middle East sovereign funds seek projects with Korea
Officials from leading sovereign wealth funds in the Middle East said on Tuesday that they are looking for more collaborative investment projects with Korean partners. Invited by the Korea Investment-Trade Promotion Agency, or KOTRA, officials from the Investment Corporation of Dubai, the Abu Dhabi Fund for Development and the Gulf Investment Corporation joined the two-day Middle East Business Week, which launched on Tuesday in Seoul. KOTRA hosts the event annually under a different agenda to pr
Nov. 13, 2012
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U.S. fines Korean firms $1.27b for price fixing
Korean enterprises ranked second in terms of fines levied by U.S. antitrust regulators for price fixing via practices such as cartels.Since several firms were slapped with antitrust fines totaling $1.57 million for rigging prices of a biochemical product in 1996 in the first case of its kind, Korean enterprises have been subject to collective penalties of $1.27 billion over the past 16 years.The amount is the second-largest accumulated figure, following $1.36 billion imposed on Japanese firms, a
IndustryNov. 13, 2012
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Confronting the challenges facing Korea’s economy
Korea’s economy has undergone major changes in the past decade, including a massive increase in exports to China, and an opening of its markets, as well as rapid growth in household debt, a sluggish domestic economy, and polarization between income groups and between companies. Korea urgently needs to rebalance its economy away from export dependence, while diversifying into more industries, and improving labor markets and social safety nets.ChallengesThe Korean economy faces a multitude of exte
Nov. 13, 2012
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Focus on core strengths key to survival of shipbuilder SPP
SACHEON, South Gyeongsang Province ― Contrary to concerns that idle shipyards in the nation’s southern coast are increasing due to lack of overseas orders since late 2008, the shipyard of SPP Shipbuilding in Sacheon is bustling. Each process required to build a vessel ― from steel sheet cutting to ship block manufacturing ― is in full swing. “We are lucky to have backlogs of orders that stretch to 2013,” SPP Shipbuilding CEO Kwak Han-jeong said in an interview with The Korea Herald. SPP Shipbui
CompaniesNov. 13, 2012
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Dancing lifts teen girls’ mental health
Dancing has a positive influence on teenage girls’ mental health, Swedish researchers say. The study, led by Anna Duberg of the Center for Health Care Sciences, conducted an experiment on girls between ages 13 and 18, who had what researchers call “internalizing problems.” The girls had a depressed mood, low self-worth or persistent feelings of tiredness but their symptoms were not severe enough to warrant psychiatric care.Among 112 girls, about half of the girls were assigned to participate in
TechnologyNov. 13, 2012
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Study: Drought pushed Mayan decline
Scientists say they‘ve seen clues to the reason for the rapid decline of the Maya civilization that once occupied much of modern-day Mexico and Central America.The Mayan civilization, known for its sophisticated calendar system and pyramid construction, sprang up in 300 A.D. but seemed to collapse between 800 and 1000 A.D.A study published in the Journal Science suggests the Maya civilization perished from the effects of extreme changes in climate.Unusual rainfall patterns doomed the Maya people
TechnologyNov. 13, 2012
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S. Korea's central bank likely to freeze key rate till next year: IBs
Global investment banks (IBs) have forecast South Korea's central bank will likely keep its key policy rate steady through the first six months of next year as the economy regains steam at a gradual pace in the second half, a report showed Tuesday. Major IBs including Goldman Sachs expect the Bank of Korea (BOK) to freeze its key rate at 2.75 percent till the first half of 2013, citing their overall outlook that protracted global jitters are less likely to further aggravate, according to the rep
Nov. 13, 2012