Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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Korea enters full election mode
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Shares dip 1.74% on stimulus disappointment
Korean stocks closed 1.74 percent lower on Wednesday, as no signs of policy actions in the eurozone prompted investors to scurry to unload shares, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price Index retreated 33.10 points to finish at 1,874.03. Trading volume was heavy at 602.3 million shares worth 4.62 trillion won ($4.07 billion) with decliners far outstripping advancers 580 to 240. “The KOSPI has fared well since its upward tr
Sept. 5, 2012
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Korea ranks 19th in global competitiveness
Korea this year moved up five notches in terms of its global competitiveness from a year earlier, helped by improvements in the country’s welfare and education systems, as well as its market efficiency, a report showed Wednesday.According to the annual report by the World Economic Forum, the country’s competitiveness index moved up to 19th place of the 144 countries studied this year. The WEF, a Geneva-based independent organization, releases the report every year based on surveys of business le
Sept. 5, 2012
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Foreigners’ net stock purchases hit record high
Foreign investors’ purchase of local stocks hit a record monthly high in August, as fears over the debt-mired eurozone waned and expectations for economic stimulus ran high, the financial regulator said Wednesday. Overseas investors bought a net 6.6 trillion won ($5.82 billion) worth of local equities last month, surpassing the previous record of 6.2 trillion won posted in January this year, according to the Financial Supervisory Service. Their shareholdings reached 383.9 trillion won as of the
Sept. 5, 2012
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Korea’s FX reserves hit new high in Aug.
Korea’s foreign reserves rose to a fresh high in August as investment profit gained and a weaker dollar boosted the conversion value of non-dollar assets, the central bank said Wednesday.The country’s foreign reserves reached $316.88 billion as of the end of August, up $2.53 billion from the previous month, according to the Bank of Korea.The foreign reserves’ previous record high came in April when they hit $316.84 billion. In July, the BOK increased its gold holdings to 70.4 tons, its first pur
Sept. 5, 2012
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FSS in talks with SC Bank over high dividends
The nation’s financial watchdog is currently in talks with Standard Chartered Bank Korea over the reduction of the bank’s planned payments of a high dividend of about 200 billion won to Standard Chartered Korea, officials said on Wednesday. Of the dividend, Standard Chartered Korea is expected to remit about 150 billion won to the headquarters in the U.K, according to industry sources. The payout ratio would reach almost 80 percent for SC Bank considering that its net profit in the first half th
Sept. 5, 2012
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Korea’s GDP growth ranked 107th in world last year: CIA
South Korea’s GDP growth ranked 107th in the world last year and eighth among OECD countries, according to the CIA’s The World Factbook on Wednesday. The nation’s GDP growth marked 3.6 percent last year. Qatar topped the list of countries with GDP growth of 18.8 percent, followed by Mongolia (17.3 percent), Turkmenistan (14.7 percent), Ghana (13.6 percent), East Timor (10.6 percent), Panama (10.6 percent) and Iraq (9.9 percent). Among developed countries, Turkey came in first with GDP growth of
Sept. 5, 2012
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Korea too dependent on Samsung, Hyundai Motor
Nokia-like failure may undermine overall economy: economistThe Korean economy holds a critically risky factor as it has been heavily dependent upon the two largest conglomerates ― Samsung and Hyundai Motor, economists say.Their worries and skeptical view over the nation’s economic structure revolve around the fact that earnings of Samsung Group and Hyundai Motor Group account for a great portion of the nation’s gross domestic product.The economy of Finland was led to “falter” due to its flagship
IndustrySept. 5, 2012
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Samsung takes OLED technology theft fight against LG to next round
The battle surrounding OLED technology theft between tech giants Samsung Display and LG Display is entering another round as Samsung recently filed an injunction against its rival in Seoul.According to legal circles, Samsung filed an injunction against LG at the Seoul Central District Court, claiming that its competitor needed to take responsibility for attempting to steal its core organic light-emitting diode display technology.The battle takes place as both companies are currently working on d
TechnologySept. 5, 2012
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Minister pledges support against business-bashing by politicians
Top 30 conglomerates promise expansion of investment and jobsKnowledge Economy Minister Hong Suk-woo pledged Wednesday to help business activities of the nation’s major business groups not to be affected by the current political disputes over “economic democratization,” or efforts to promote balanced growth and prevent abuse of economic power. “Ahead of the presidential election at the end of this year, discussions related to economic democratization underway in the political circles can hamper
IndustrySept. 5, 2012
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Apple consulted Samsung, LG phones before iPhone release: documents
Apple Inc. consulted the designs of mobile phones made by Samsung Electronics Co. and LG Electronics Inc., documents showed Wednesday, giving a new twist to the high-stakes patent war between the world‘s two biggest smartphone makers.Samsung and Apple have been embroiled in patent lawsuits spanning four continents as part of efforts to dominate the $219 billion global smartphone market. While courtroom battles are still in process, an Aug. 24 jury verdict in the United States dealt a blow to the
TechnologySept. 5, 2012
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LG, Pantech set to release new LTE devices in U.S. market
Korean handset makers LG Electronics Inc. and Pantech Corp. said Wednesday they plan to introduce new smartphones that operate on the fourth-generation Long-Term Evolution network in the U.S. market within this month. LG is set to release its 5-inch Intuition via Verizon Wireless starting Sept. 6, while Pantech plans to roll out its 4.3-inch Flex via AT&T on Sept. 16, the companies said in separate press releases. As part of efforts to better cater to local users, LG said it added the “LG Tag+”
TechnologySept. 5, 2012
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Samsung, LG, Sony shine at Berlin show
IFA needs reinvigoration to meet increasing expectations: expertsJam-packed with visitors on its opening day, the Internationale Funkausstellung appears to be a success largely thanks to the three Asian tech giants of Samsung Electronics, LG Electronics and Sony showcasing their smart and mobile devices and appliances with unique designs and features.Samsung highlighted its all-new Galaxy Note 2 at an unveiling event, where it also featured Windows 8 phones that stole Nokia’s thunder as the Finn
TechnologySept. 5, 2012
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Kakao to launch content platform: Lee
CEO says integration of mobile and social networking inevitable requirements for growthFlexibility and speed are key to innovation in the mobile technology market.These management traits are essential to keep Kakao creative and responsive to the unpredictable and rapidly changing mobile market, Lee Jae-beom, CEO of the mobile communication venture tech firm, told The Korea Herald.The company’s Kakao Talk is one example that became a worldwide hit with over 50 million users through fast decision-
TechnologySept. 5, 2012
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Horror stories of acupuncture gone wrong
A recent study conducted by the U.K.’s National Patient Safety Agency found that there are perils to acupuncture that can lead to severe health damage, according to news reports. Acupuncture has been a medical treatment since the Chinese discovered it 2,000 years ago. The essence of acupuncture was to puncture the body at specific points that connect with “energy pathways” that link the body. Many used acupuncture as a way to cure a range of health issues including migraines, tooth aches, depres
TechnologySept. 5, 2012
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Oxymoron? A vegetarian McDonald’s to open
McDonald’s announced on Wednesday that it would open the first vegetarian McDonald’s near the Golden Temple at Amritsar, the Sikh holy city in northern India, according to news reports. The world’s second-largest restaurant chain decided to go vegetarian to cater to Hindus, who view cows as sacred, and Muslims, who don’t allow the consumption of pork. McDonald’s is known to tailor menus to fit the tastes of locals all around the world. The current top seller in India is McAloo Tikki burger, whic
IndustrySept. 5, 2012
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S. Korea ranks 19th in global competitiveness
South Korea this year moved up five notches in terms of its global competitiveness from a year earlier, helped by improvements in the country's welfare and education systems, as well as its market efficiency, a report showed Wednesday.According to the annual report by the World Economic Forum (WEF), the country's competitiveness index moved up to 19th place of the 144 countries studied this year.
Sept. 5, 2012
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Abuse victims find a new way to heal through horses
A horse farm in Lake Ariel, not far from Scranton, Pennsylvania, has become a place to help victims of abuse recover from the atrocities they have suffered through horse therapy, according to news reports. In 2009, a 5-year-old was savagely raped by a complete stranger, leaving her mute. Her parents tried all types of therapy, including talk therapy and art therapy, to get her to speak, but nothing worked. Her therapist Ann Cook decided to try something different. Cook had the girl spend time wi
TechnologySept. 5, 2012
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Green tea compound may help shrink tumors
A compound in green tea -- epigallocatechin gallate -- may help combat cancer by shrinking tumors, researchers in Scotland suggest.Study leader Dr. Christine Dufes of the Strathclyde Institute of Pharmacy and Biomedical Sciences and colleagues at the University of Glasgow said the team used an approach that allowed the treatment of epigallocatechin gallate delivered specifically to the tumors int
TechnologySept. 5, 2012
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Samsung violates Chinese workers' rights: report
Samsung forces employees at its Chinese factories to work up to five times the legal overtime limit, bans them from sitting down and denies basic labor rights, according to a US-based watchdog.According to China Labor Watch's probe of eight factories, the South Korean electronics giant is guilty of widespread "legal and inhumane violations."These include forcing workers at the Tianjin Samsung Mobi
IndustrySept. 5, 2012
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Apple announces Sept. 12 event as new iPhone anticipated
Apple Inc. (AAPL) sent out invitations to a Sept. 12 product event in San Francisco, where the company is expected to unveil a redesigned iPhone. “It’s almost here,” Cupertino, California-based Apple said in the invitation, whose image includes a ‘5’ in shadow, possibly in reference to the new product’s name. At the event, set for 10 a.m. at Yerba Buena Center for the Arts, Apple will introduce a
TechnologySept. 5, 2012