Most Popular
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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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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Hybe's multilabel system tested amid conflict with Ador
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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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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Import prices of raw materials rise in Feb.
Import prices of key raw materials rose for a second consecutive month in February on a steady rise of petroleum and non-ferrous metal prices, a trade association said Friday.The Korea Importers Association said its price index for imported commodities stood at 387.36 last month, up 16.91 points or 4.56 percent from January. KOIMA uses 1995 as the base year for the benchmark index that covers 56 key imported raw materials, ranging from corn and soybeans to crude oil and aluminum scraps.The assoc
March 9, 2012
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Foreign currency deposits at 5 Korean lenders top $20 bln
Foreign currency-denominated deposits at five South Korean lenders more than doubled from a year ago to $20 billion in February on the back of the local currency‘s ascent against the U.S. dollar, financial industry sources said Friday. According to local sources, the outstanding deposits at five commercial lenders -- Kookmin Bank, Woori Bank, Shinhan Bank, Hana Bank and the state-run Industrial Bank of Korea -- reached $20.36 billion, up 3.2 percent from January.The figure was a 65 percent surge
March 9, 2012
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Proposed ‘nuclear’ clock most accurate?
A clock tied to the orbiting of an atom’s neutron could gain or lose less than a second in 14 billion years, the age of the universe, Australian scientists say.“This is nearly 100 times more accurate than the best atomic clocks we have now,” said one of the researchers proposing such a “nuclear” clo
TechnologyMarch 9, 2012
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Space weather storm fizzles on arrival
A picture taken late on March 7, 2012 of northern lights in Abisko, Swedish Lapland. (AFP)A space weather storm that was forecast to be the strongest in five years has fizzled out and ended up causing no impact to power grids or modern navigation systems, US experts said on Thursday.A series of erup
TechnologyMarch 9, 2012
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Seoul to promote safety of its nuclear plants
Korean reactor models demonstrate upgraded safety featuresThe Seoul Nuclear Security Summit on March 26 and 27, which will be preceded by a nuclear industry conference three days earlier, is expected to be an opportunity to show off the technological excellence and safety of Korean atomic power plants.The Korean standard nuclear power plant, which is 95 percent technologically self-sufficient, has risen as a major export item in the country after semiconductors, cars, mobile phones and ships.Sta
IndustryMarch 8, 2012
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LG Uplus to offer service for LTE voice calls in October
LG Uplus Co., South Korea’s smallest mobile carrier, said Thursday that it plans to start voice over long-term evolution service late this year that will enable smartphone users to access better data and voice services.The LTE service, or the fourth-generation wireless technology, enables customers to access a stream of data faster than the current 3G network and download and watch movies more quickly. The VoLTE technology allows users to enjoy high quality voice services as well. “We are aiming
IndustryMarch 8, 2012
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LG chairman orders faster roll-out of OLED TVs
LG Group chairman Koo Bon-moo urged its flagship electronics arm to secure the lead in the organic light-emitting diode television market by rolling out the TV sets earlier than scheduled.During his visit with its affiliates’ chief executives to the group’s research and development conference in Daejeon on Wednesday, he requested an early release of the 55-inch OLED TV, which is currently set to be launched in the latter half of this year.He also asked LG Display to speed up the development of p
IndustryMarch 8, 2012
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Hotels under antitrust probe
The Fair Trade Commission has launched an investigation into the country’s seven top-rated hotels in Seoul on suspicion of colluding to rig the prices of their wedding packages and rooms, according to industry sources and reports Thursday.The seven hotels are Lotte Hotel Seoul, Lotte Hotel World, The Shilla Seoul, The Westin Chosun Seoul, Sheraton Grande Walkerhill, W Seoul-Walkerhill and The Plaza Hotel Seoul.“FTC investigators requested yesterday documents related to our wedding business,” an
IndustryMarch 8, 2012
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BOK holds rate steady at 3.25% for ninth month
Rising oil prices feared to add to inflationary pressureThe Bank of Korea held the benchmark rate unchanged at 3.25 percent, extending the stand-pat streak to a ninth month, as its policy-decision panel sees no other enticing option. Korea’s consumer prices rose 3.1 percent on-year in February, within the target band of the central bank, but went up 0.4 percent from the previous month amid growing concerns that inflationary pressure is already building up. The central bank’s policymakers seemed
March 8, 2012
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Seoul shares gain 0.94% on eased Greece woes
South Korean stocks gained 0.94 percent Thursday, as investor sentiment was boosted by news from Greece that the debt-laden country is close to making the debt swap deal with private creditors to avert a default, analysts said. The local currency rose against the U.S. dollar. The benchmark KOSPI advanced 18.61 points to close at 2,000.76, snapping its three-day losing streak. Trading volume was moderate at 449.6 million shares worth 6.24 trillion won ($5.57 billion) with gainers outstripping los
March 8, 2012
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Watchdog approves Google-Motorola merger
Korea’s antitrust watchdog said Thursday that it has approved Google Inc.’s move to purchase Motorola Mobility “with no stings attached,” saying that it would not restrain competition in related industries.“Based on our reviews of opinions from stakeholders and global coordination (with foreign antitrust watchdogs), we have concluded that the deal would not limit market competition in related industries,” the Fair Trade Commission said in a press release.Google announced in August last year it w
March 8, 2012
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Korea’s trade minister rules out scrapping KORUS FTA
South Korea’s top trade official on Thursday said it would be impossible to scrap a free trade pact with the U.S., stressing that the accord will help South Korea’s economic growth.The trade pact signed in 2007 is set to go into effect on March 15. South Korea’s parliament approved the free trade pact in November last year despite vehement protests from opposition lawmakers. The deal was approved by the U.S. Congress in October.The scheduled implementation of the free trade pact will come amid g
March 8, 2012
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Gasoline tops W2,000 per liter
‘Government reviewing sites for 8 more discount gas stations’The average gasoline price in Seoul’s 25 districts rose above 2,000 won per liter, according to the Korea National Oil Corporation Thursday.The average price of gasoline in Gangbuk-gu gas stations hit 2,000 won per liter as of Wednesday 5 p.m., joining other districts.Average gasoline prices in 19 Seoul districts went over 2,000 won per liter in early February. Gwangjin-gu (2,008 won), Dobong-gu (2,023 won), Dongdaemun-gu (2,019 won),
IndustryMarch 8, 2012
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Korean builders become top foreign players in Saudi Arabia
Korean companies clinched the largest amount of orders among foreign builders operating in Saudi Arabia last year on the back of their strong competitiveness, a local contractors association said Thursday.The International Contractors Association of Korea said companies such as Samsung C&T Corp. secured $16.6 billion worth of orders in 2011, or 23 percent of all building contracts signed.Total building contracts in the oil-rich Middle Eastern country hit $72 billion.“Excluding Saudi builders tha
March 8, 2012
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Premium chocolate on sale for White Day
See’s Candies Korea, a local unit of the San Francisco-based candy manufacturer, said it has launched a special offline promotion of its well-known chocolate brands to mark forthcoming White Day in the local market. See’s Candies is best known as one of the early investments bought by Warren Buffett and his Berkshire Hathaway Corp. in the early 1970s. The Korean affiliate said its chocolate and candies including Lollypops would be available at major department stores in Seoul at a special discou
IndustryMarch 8, 2012
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Hyundai Heavy reaches milestone
Hyundai Heavy Industries Co., Korea’s leading shipbuilder, said Thursday that the accumulated gross tonnage of ships it delivered surpassed the milestone 100 million mark, making it the first shipyard in the world to do so.The feat was achieved only 40 years after Hyundai Heavy entered the shipbuilding business in 1972, it said.Hyundai Heavy recorded 10 million gross tonnage of ships in terms of volume in 1986 and 50 million gross tonnage in 2002.So far, Hyundai Heavy has delivered a total of 1,
IndustryMarch 8, 2012
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Korean bakeries look to expand into overseas markets
Paris Baguette shows strong progress in China; Tous les Jours seeks success in Southeast AsiaLocal bakery chain rivals Paris Baguette and Tous les Jours are seeking to expand their international reach with their successful entry into overseas markets. Now they may avoid intense cross-street competition in Korea as they build up their global business in different regions. Paris Baguette, owned by food conglomerate SPC Group, is a big name in China where the company operates 74 stores, the first o
IndustryMarch 8, 2012
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A remedy for so much ― walking
I remember that Dr. Kim Kwang-won of the Diabetes Center of Samsung Seoul Hospital, where I currently work, said at a health lecture, “I could count on my finger tips the best treatment method for diabetes after studying diabetes for life. That’s exercise.”At the time, I slapped my knee in glee to get advice from an outstanding master of diabetes.This spring, I plan to recommend to nearly all I meet at my outpatient clinic that they walk 30 minutes a day. This is because I finally realized that
TechnologyMarch 8, 2012
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Doctors question effect of Google glasses on eyes
Have you ever imagined people walking along the street, digitally scanning and analyzing the information of their surroundings on the spot? This may become a reality as Google is expected to start selling eyeglasses that project information, entertainment and advertisements onto the lenses. According to the New York Times, the glasses are not designed to be worn constantly ― although Google engineers expect some users will wear them a lot ― but will be more like smartphones, used when needed, wi
TechnologyMarch 8, 2012
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How music therapy can reduce stress, ease pain
Expert suggests use of complementary alternative medicine in highly individualized wayDALLAS ― Judith Ritchie unlocked her office at the Sammons Cancer Center and carefully gathered the instruments that she determined would best serve her patients in the oncology unit.An American Indian flute. A plucked psaltery or lap harp.Ritchie, a certified music practitioner on the staff of Baylor University Medical Center at Dallas, fills doctors’ prescriptions to bring pain relief to patients with cancer.
TechnologyMarch 8, 2012