Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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[Graphic News] 77% of young Koreans still financially dependent
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Zoo apes get stimulation from iPad apps
Officials at the Houston Zoo said the "Apps for Apes" program, which provides apes with iPad apps designed for children, helps mentally stimulate the primates.Zookeepers said the facility is the first in Texas to participate in the "Apps for Apes" program, which was developed by New York primate advocacy group Orangutan Outreach and pioneered at zoos in Wisconsin and Toronto. The program helps to
TechnologyJune 22, 2012
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Scientists say Mars’ interior may hold huge water supply
Recent study suggested that Mars’ mantle -- the layer beneath the crust -- may hold an amount of water similar to that of the Earth, Science Daily reported Thursday.The data not only explains why there is evidence of water on the surface of the "Red Planet," but also raises the possibility that it could sustain life, according to Francis McCubbin from the University of New Mexico who led the research.The researchers examined the shergottite meteorites that were created by partial melting of the
TechnologyJune 22, 2012
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Seoul stocks drop 2.21 pct on weak U.S., Chinese economic data
South Korean stocks dived 2.21 percent Friday on weak U.S. and Chinese economic data and lingering eurozone uncertainties, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) plunged 41.76 points to close at 1,847.39. Trading volume was very light at 286 million shares worth 4.27 trillion won (US$3.69 billion), with losers clearly
June 22, 2012
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Korea’s population passes 50m
South Korea’s population will exceed 50 million on Saturday, making it the 26th country to reach the mark, according to a report from Statistics Korea.Government officials said the nation is expected to hit the figure at around 6:36 p.m. on Saturday.Koreans take up 0.71 percent of the world’s population of around 7.05 billion, according to the officials. The nation’s population surpassed 40 million in 1983. The report forecasted that the population will stay above 50 million for 33 years, peakin
June 22, 2012
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Seoul shares opens lower on weak U.S. economic data
South Korean stocks opened lower Friday on weak U.S. manufacturing and employment data that caused an overnight tumble on Wall Street, analysts said.The Korea Composite Stock Price Index (KOSPI) dropped 1.43 percent, or 26.93 points, to 1,862.22 in the first 15 minutes of trading.Market bellwether Samsung Electronics lost 2.28 percent, with top automaker Hyundai Motor also giving up 1.00 percent.T
June 22, 2012
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Korean credit card firms seek partnerships abroad
Korean credit card firms are working to build their own international networks hoping to reduce dependence on Visa and MasterCard. Local credit cardholders and issuers pay tens of billions of won every year as royalties and commission to the multinational credit card giants. Visa and MasterCard have a combined market share of about 92 percent in Korea.Visa or MasterCard-branded credit cardholders pay 1 percent of the amount they spend abroad as commission to the duopoly. Koreans spent some $8.62
June 21, 2012
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FTAs increase competition among foreign brands: FTC
Free trade agreements with the European Union and the U.S. have contributed to lowering the product prices of their consumer brands, the nation’s antitrust watchdog said in a report Thursday. The Fair Trade Commission conducted a price survey on 22 bestselling import items following the FTAs with the EU and the U.S., that took effect here from July last year and March this year, respectively. Of the surveyed products, 15 items were found to have seen a moderate price cut, the FTC said. Dutch ele
IndustryJune 21, 2012
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Kia’s Soul named best compact car in U.S.
Kia Motors said Thursday that its Soul urban crossover topped the compact multi-purpose vehicle segment of the J.D. Power and Associates 2012 Initial Quality Study, which was published on Wednesday in the U.S.According to Hyundai Motor Group, the Kia Soul earned the highest points in some 230 categories of studies this year, closely outpacing Toyota’s Prius v and Scion xB. The annual study by global marketing information services firm J.P. Power and Associates captures feedback from car owners
IndustryJune 21, 2012
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Lotte Duty Free Jamsil expands cosmetic section
Lotte Duty Free will open on Friday a renovated cosmetics boutique at its Jamsil branch in southern Seoul. The duty free shop has expanded by 1,567 square meters and takes up both the ninth and tenth floors at the Lotte Department Store in Jamsil. The renovation is to meet the growing number of foreign tourists who are showing great interest in South Korean beauty products following “hallyu,” or the Korean Wave, said officials through statement. Officials said the sales of cosmetic goods have be
IndustryJune 21, 2012
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Korean Air opens direct flight to Nairobi
Korea’s leading flag carrier Korean Air said Thursday it opened the direct route connecting Incheon and Nairobi, starting with its first flight at 10:15 p.m. the same day. It is the first time that Korea has opened a direct flight to an African country, which is also the first among neighboring Northeast Asian countries including Japan and China. Korean Air said it will operate a 226-seat A330-200 passenger jet to offer three weekly flights to the Kenyan capital. The flight time from Incheon is
IndustryJune 21, 2012
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Galaxy S3 hits U.S., Mexico markets
Samsung Electronics, Korea’s tech manufacturing giant, said that its new flagship Galaxy S3 has hit the U.S. and Mexican markets this week.It held launching ceremonies and officially released the smartphone in the U.S. on June 20, and in Mexico on June 21, both on regional time, the company said in a press release.The company invited a number of guests in Mexico to its event held at the country’s stock exchange, while its U.S. guests included basketball players, Hollywood actresses and 500 consu
June 21, 2012
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Korea to see vehicle sales drop by 2.1% in 2012: report
Local and import brands’ vehicle sales in Korea are projected to fall by 2.1 percent in 2012, compared to the previous year, an automotive research center said Thursday.In its second-half outlook on the world’s vehicle market, the Korea Automobile Research Institute predicted that global companies will see the pace of sales growth “slow down markedly.”Affected by the weaker consumer sentiment globally, the local market will see “the number of vehicle sales stay about 1.55 million units this year
IndustryJune 21, 2012
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Samsung claims first victory in Apple patent war
Dutch court rules in favor of Korean firm; German court to give ruling FridaySamsung Electronics claimed its first victory in the global patent dispute with its rival Apple Inc. as a Dutch court ruled in favor of the Korean company, ordering the U.S. firm to pay damages over a patent violation in the Netherlands.A court in The Hague ruled Apple violated Samsung’s patent involving third-generation wireless telecommunications technology, which is used in some of Apple’s smartphones and tablet PCs
IndustryJune 21, 2012
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Group busted for trading 50,000 counterfeit products worth W50b
A group of three people was caught smuggling, manufacturing and trading some 50,000 counterfeit products including designer handbags, the Korea Customs Service said Thursday.The total market value of the original items is estimated at over 50 billion won ($43.4 million).The three are suspected of distributing replicas which they smuggled from China or produced in Korea through retail dealers in Itaewon, Namdaemun, Busan and Jeju since January 2010. Some were sold to insurance companies to be giv
IndustryJune 21, 2012
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Foreign banks’ overseas borrowing rises this year
Foreign bank branches in South Korea saw their overseas borrowing rise this year, reflecting stable economic conditions in the country, the nation’s financial regulator said Thursday.The combined foreign exchange borrowing by bank branches rose 9.8 percent, or $6.6 billion, from the end of 2011, according to the Financial Supervisory Service.Of the total, money borrowed by bank branches on the market rose $4.3 billion, while those brought in from the lender’s main office moved up $2.3 billion, i
June 21, 2012
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Korea’s labor productivity falls
South Korea’s labor productivity fell in the first quarter of 2012 from a year earlier due to sluggish exports and weak domestic consumption, a government report showed Thursday.According to the report by the Ministry of Knowledge Economy, the labor productivity index for all industries in the January-March period fell 2.3 percent on-year to 104.6, compared to 107 tallied a year earlier.The figure also decelerated from 107.2 reached in the fourth quarter of last year, it said.Labor productivity,
June 21, 2012
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Korea’s economic growth to slip to 3.5% this year: Hyundai Institute
South Korea’s economic growth is expected to slow to 3.5 percent in 2012 from a 3.6 percent expansion last year as global uncertainties hurt exports, a private think tank said Thursday. In its growth outlook, Hyundai Research Institute said first half growth has been affected by protracted eurozone woes and sluggish economic conditions in the United States and China. It said such developments have hurt outbound shipments that play an important role in the country’s growth.The HRI’s forecast for
June 21, 2012
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Stocks fall 0.79% on U.S. Fed disappointment
South Korean stocks fell 0.79 percent Thursday after the U.S. Federal Reserve failed to announce new economic stimulus measures to fuel growth of the world’s largest economy, analysts said. The local currency dipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index gave up 14.97 points to close at 1,889.15. Trading volume was light at 369 million shares worth 3.72 trillion won ($3.23 billion), with gainers outpacing losers 421 to 402.“The Fed’s plan to maintain its current
IndustryJune 21, 2012
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Korea’s corporate profitability slips in first quarter
South Korea’s corporate profitability fell in the first quarter of 2012 from a year earlier as a rise in commodity prices drove up other expenses, the central bank said Thursday.The average ratio of operating profit to sales, a key barometer of profitability, was 5.2 percent for the January-March period, down from 6.6 percent the previous year, the Bank of Korea said in a report based on a survey of 1,549 listed and 190 important non-listed companies.The result still marked a gain from the 3.7 p
June 21, 2012
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Uijeongbu light rail line set to run amid financial fears
With sleek railcars sliding along elevated tracks, Korea’s newest light railway is a smooth ride, and the hope is that it can avoid the fiscal train wreck facing similar projects.But passenger estimates for the rubber-wheeled, driverless light rail transit system, which will open to the public in Uijeongbu city north of Seoul on July 1, have already been scaled back.And government researchers say the 11.1-kilometer stretch of line, which was built under a public-private partnership deal, will co
June 21, 2012