Most Popular
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Yoon's approval rating plunges to all-time low
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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S. Korea votes in favor of Palestinian bid for UN membership
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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[Graphic News] French bulldog most popular breed in US, Maltese most popular in Korea
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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Yeonggwang nuke plant restarts after shutdown
A nuclear power plant in Yeonggwang, South Jeolla Province, resumed operations on Sunday, six days after the plant came to a halt due to technical malfunctions. The Korea Hydro and Nuclear Power Co. announced that the Yeonggwang-6 nuclear power plant went back into operation at 8:40 a.m., following the official inspection and approval from the Nuclear Safety and Security Commission the day before. The Yeonggwang-6 unit is expected to reach its normal power-generating capacity by midnight on Mond
Aug. 5, 2012
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NPS’ direct investment profits 3.48%
National Pension Service outperforms assets managers on profitsDirect investments made by the National Pension Service are marking steady profits in the fluctuating stock market, according to NPS officials. The accumulative profit rate of the service’s direct investment in local stocks marked 3.48 percent for the five first months of the year, they said. The figure is far higher than the profit rate of the KOSPI, which marked 0.97 percent. Direct investment in the KOSPI made by the NPS was more
Aug. 5, 2012
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Toyota raises sales plan as quarterly profit zooms
TOKYO (AP) ― Toyota raised its sales target for this year to a record 9.76 million vehicles and reported a strong recovery in quarterly profit Friday, underlining its bounce back from a disaster plagued 2011.Toyota Motor Corp. said April-June profit zoomed to 290.3 billion yen ($3.7 billion) from 1.1 billion yen the year before. Its new sales target would represent a 23 percent increase from the 7.95 million vehicles sold in 2011, and is 180,000 vehicles more than Toyota’s last forecast in Febru
MobilityAug. 5, 2012
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VW completes purchase of Porsche
Volkswagen AG finalized the purchase of the Porsche auto business, ending a seven-year saga that saw VW turn the tables on the maker of the 911 sports car.VW paid the Porsche SE holding company 4.49 billion euros ($5.52 billion) and one common share for a 50.1 percent stake in Porsche AG, assuming full ownership of the brand, the Wolfsburg, Germany-based company said Wednesday in a statement.“The path is now finally clear for a bright future together,” Martin Winterkorn, chief executive officer
MobilityAug. 5, 2012
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Women driving import car market growth
Women seek foreign brand cars for style, performance, confidence boostAfter years of driving Korean cars, Chung Ji-eun, a 33-year-old businesswoman, recently purchased a Benz C-Class sedan for herself.“I used to enjoy shopping for European designers’ bags or shoes. But the satisfaction level with the Benz was the highest,” she said.“I like the luxury design and performance. But, above all, I feel more confident driving alongside the tough male drivers on the road.”The number of female drivers ha
MobilityAug. 5, 2012
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Man waits on hold for 15 hours
(123rf)An Australian man said he called the Qantas airline and waited for 15 hours, 40 minutes and 1 second before hanging up the phone.Andrew Kahn of Adelaide said he called Qantas at 7:22 p.m. Wednesday to confirm his travel arrangements and remained on hold until 11:01 a.m. Thursday while a recorded voice said an agent would speak to him "as soon as possible," the Sydney Morning Herald reported
IndustryAug. 5, 2012
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Low-income households face higher default risks on debts: report
The ratio of "debt-risk" households among low-income brackets are significantly higher than the national average, a report showed Sunday, confirming that poor families are more vulnerable to worsening economic and financial conditions.According to the report by the state-run Korea Development Institute, the ratio of households deemed to have insufficient ability to pay back their debt among the na
Aug. 5, 2012
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Playfulness may help attract women
(MCT)Humans, unlike most other mature mammals, play throughout their lives and U.S. researchers say that may have something to do with mating.Garry Chick, professor and head of the Department of Recreation, Park and Tourism Management at Pennsylvania State University, said playfulness may serve an evolutionary role in human mating preferences by signaling positive qualities to potential long-term
TechnologyAug. 5, 2012
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Korea’s per-capita GNI to reach all-time high in 2012: data
South Korea's per-capita gross national income (GNI) will likely reach an all-time high this year despite gloomy global economic conditions, data showed Sunday.The country's nominal GNI are forecast to reach about US$23,159 this year, up 3 percent from $22,489 reported a year earlier, according to the data provided by the Finance Ministry.The figures are based on the ministry's 3.3 percent economi
Aug. 5, 2012
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Three companies get go ahead for space taxi plans
Boeing Co.'s CST-100 capsule (left), Sierra Nevada Corp.'s Dream Chaser space plane (middle) and SpaceX's Dragon capsule(right). (NASA)Three aerospace firms were awarded a combined1.1 billion dollars from NASA Friday to develop commercial spaceshipsto carry astronauts into space within the
TechnologyAug. 4, 2012
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Samsung defeats Apple bid for sanctions over evidence
Samsung Electronics Co. defeated a bid for judicial sanctions sought by Apple Inc. over a release of evidence in the iPhone patent dispute now on trial in San Jose federal court in California. U.S. District Judge Lucy Koh today dismissed Apple’s request to punish a Samsung lawyer’s public disclosure of evidence excluded from trial. Koh polled jurors on the matter and concluded they could remain in
TechnologyAug. 4, 2012
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Foreigners dump local stocks for 4th month
Foreign investors offloaded local stocks for a fourth consecutive month in July mainly due to continuing external uncertainties stemming from the debt-mired eurozone, the financial regulator said Friday.Overseas investors sold off a net 710 billion won ($627.2 million) worth of local equities last month, with their shareholdings reaching 379.9 trillion won as of the end of July, the Financial Supervisory Service said.Foreign stock ownership inched up to 31.6 percent of the market cap last month
Aug. 3, 2012
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KEPCO seeks 4.9% hike in electricity bill
The Korea Electric Power Corp. announced Friday that its board of directors has agreed to increase electricity charges by an average of 4.9 percent from as early as September, with additional hikes being considered within the year.The fee hikes, implemented differently across industries, would amount to 7 percent for businesses, 3 percent for homes and 3 percent for the agricultural sector, according to the state-run power company KEPCO. KEPCO, calling the long freeze in electricity prices the m
IndustryAug. 3, 2012
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Average monthly import car sales top 10,000
Import car sales in the local market continued their boom last month although Korean automakers and three foreign companies that operate production factories in Korea are still suffering sluggish vehicle sales.According to the Korea Automobile Importers & Distributors Association, the nation’s import car sales exceeded 10,000 units for the fifth consecutive month.“Sales of import cars came to 10,768 units in July, up 21.5 percent from a year before,” a KAMA spokesman said on Friday. “After posti
IndustryAug. 3, 2012
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Bill cuts capital gains tax for multiple homeowners
The Finance Ministry on Friday unveiled a revised tax bill which removes the additional capital gains tax burden on multiple homeowners as part of efforts to stimulate the property market. Multiple homeowners, with the exception of those possessing three or more homes in speculative regions, will be applied the same capital gains tax rates as those who own a single home when selling their houses. The bill also includes raising the minimum tax rate for large companies that receive various tax ben
Aug. 3, 2012
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GS Caltex to expand ties with China’s Shandong
GS Caltex and China’s Shandong Province have agreed to further expand their business and cultural cooperation. According to the nation’s second-largest oil refiner, its chairman Hur Dong-soo and Shandong Province governor Jiang Daming held a meeting for a strategic partnership as a delegation from the Chinese province visited the GS Caltex plant in Yeosu, South Jeolla Province, on Thursday. “I appreciated the achievements we have made over the past 10 years in China under a strong partnership wi
IndustryAug. 3, 2012
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FSS strives to retain supervision power
Regulator poised to intervene in KDIC’s probe of savings banksFinancial regulators are sticking their noses into the Korea Deposit Insurance Corp.’s independent investigative authority over mutual savings banks, many of which it failed to supervise.The situation comes after the Financial Services Commission and the Financial Supervisory Service hindered the National Assembly from allowing the Bank of Korea to independently conduct a probe of financial firms last year.The FSS is in talks with the
Aug. 3, 2012
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Sex-related keywords peak in summer
A recent study in the U.S. showed that people tend to use date-related keywords in Google searches most frequently in the early summer, and December and January, according to a report on livescience.com.“Wherever we looked within these three different areas -- whether it was searches for ‘eHarmony,’ or for ‘brothel’ -- there was this exact same pattern,” said study researcher Patrick Markey, who is a psychology professor at Villanova University. He added that this trend was proven to be consiste
TechnologyAug. 3, 2012
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Seoul shares dip 1.11 percent on eurozone woes
South Korean stocks dropped 1.11 percent on Friday after the European Central Bank (ECB) failed to meet market expectations it would buy bonds issued by Spain and Italy, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) lost 20.72 points to 1,848.68. Trading volume was light at 254.6 million shares worth 3.6 trillion won ($3.2 bi
Aug. 3, 2012
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KEPCO seeks 4.9% hike in electricity bill
The Korea Electric Power Corp. announced Friday that its board of directors has agreed to increase electricity charges by an average of 4.9 percent from as early as September, with additional hikes being considered by the end of the year. The fee hikes, that would be implemented differently across industries, would amount to 7 percent for businesses, 3 percent for homes, 3 percent for the agricultural sector, a KEPCO board member told in an interview. The 4.9 percent increase proposal will be re
IndustryAug. 3, 2012