Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Monthly users on local streaming platforms outpace Netflix, Disney+
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NewJeans fans send protest truck against agency chief in conflict with Hybe
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Seoul to promote luxurious side of the city
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SMEs facility investment plans near crisis level
Small and medium enterprises in South Korea are planning to scale back their investments in facilities amid a bleak economic outlook, with their plans nearing the level seen in 2009 in the aftermath of the global financial crisis, a report showed Tuesday.In a survey of 3,070 SMEs by policy lender Industrial Bank of Korea, 32.3 percent of the companies said they have plans for facility investment this year, down 8.7 percentage points from a year earlier.The figure marks the lowest level since 34.
March 6, 2012
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Shares sink on renewed fear of global slump
Korean stocks closed 0.78 percent lower Tuesday, as renewed worries over a global economic downturn prompted by China’s cut in its growth target kept investors at bay, analysts said. The local currency lost ground against the U.S. dollar. After opening 0.16 percent higher, the benchmark Korea Composite Stock Price Index soon reverted to lose 15.70 points to close at 2,000.36. Trading volume was moderate at 544.9 million shares worth 5.22 trillion won ($4.64 billion) with decliners far outpacing
March 6, 2012
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KRX income rises reigniting dispute over trading fees
The Korea Exchange saw its operating income rise last year, reigniting a dispute about the current trading fee system.The KRX, the country’s bourse operator, earned 421.2 billion won ($375.3 million) in operating income last year, up 6.3 percent, or 25.3 billion won, from a year earlier. Of the operating income, trading fees accounted for 342.2 billion won. The sizable profits are providing ammunition to brokerages and financial firms, which demand a cut in trading fees. The improved earnings fo
March 6, 2012
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Dividends for chiefs of top 10 conglomerates drop 23.1 percent
Hyundai-Kia Group chief Chung Mong-koo tops list with 45.6 billion wonHyundai Motor Group chairman Chung Mong-koo is to receive the greatest dividends among chiefs of the nation’s 10 largest conglomerates this year, beating his brother and last year’s No. 1 Chung Mong-joon, the major shareholder of Hyundai Heavy Industries.Heads of the top 10 conglomerates in asset value, excluding public companies and privatized public firms, will receive a total of 171.6 billion won in dividends this year from
IndustryMarch 6, 2012
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FSS hits snag in magnetic strip phaseout
Regulator has its hands tied as consumers reluctant to replace their outdated cardsKorea’s financial regulator hit a snag in implementing an overhaul of the credit card system to replace magnetic strip cards with those with an integrated circuit.The Financial Supervisory Service announced in late January that it would push for the change, but confronted problems, such as consumer complaints and the absence of mandatory measures. The FSS said the planned change that would bar consumers from using
March 6, 2012
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King Sejong shows the way for business meetings today
Historical records show the famous king turned court meetings into exchanges of productive ideasHave you ever been in a business meeting wondering why you are there? In typical Korean corporate culture where junior staff members are supposed to remain meekly silent while the boss demands fresh ideas, meetings are, if anything, costly time-wasters. Business meetings have three negative associations: boring, tiring, unnecessary. And the most serious issue is that most meetings get wrapped up with
IndustryMarch 6, 2012
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Shinwon eyes big leap with luxury fashion
Chairman Park says his company will introduce VanHart Homme brand this spring in collaboration with Italian celebrity designer Al Bazar Lino.Shinwon Group, a leading fashion retailer, was one of the first South Korean companies to enter the inter-Korean industrial complex in Gaeseong, the North Korean border town, in 2004.Despite the political tension between the two Koreas, Shinwon chairman Park Sung-chul still has no doubts about the decision he made eight years ago.“North Koreans are skilled
IndustryMarch 6, 2012
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Customs agency seizes 1,471 kg of gold in smuggling crackdown
Korea’s customs office said Tuesday it has seized a total of 1,471 kilograms of gold in its crackdown on smuggling attempts over the past four years as rising international gold prices have encouraged people to ship out the precious metal for profit.The amount was the result of crackdowns enforced from 2008-2011 in a total of 74 cases, according to the Korea Customs Service. All of it was confiscated as it was being smuggled out. This marks a contrast from the previous four years when 6,768 kilo
March 6, 2012
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Antimatter atom measured for the first Time
Scientists have succeeded in measuring an atom made of antimatter for the first time ever, marking a giant step toward finding out how universe is formed, livescience.com reported Wednesday. Stars and nebulas in outer spaceAccording to scientists all particles of matter have antimatter partners
TechnologyMarch 6, 2012
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Easily guessed computer passwords a risk
Hackers often get into protected systems by simply guessing the password, which is often made too easy for them by users, U.S. security experts say.Security services firm Trustwave says it found the most common password used on business computer systems is "Password1," CNN reported Monday.Although i
TechnologyMarch 6, 2012
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Doosan Infracore to build R&D lab in China
Doosan Infracore Co. said it broke ground on Tuesday for its first research and development center in China, spurring its foray into one of the world’s fastest growing construction equipment markets. The laboratory, which will sit on an 8,000-square-meter site in Yantai, eastern China, will be devoted to developing wheel loaders, the Korean engineering firm said. Construction will be completed by the end of the year.The Seoul-based company said it will spend 11 billion won ($9.8 million) to inst
IndustryMarch 6, 2012
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[Herald Interview] Shinwon eyes another big leap with luxury fashion
Chairman confident of economic benefits from having production lines in N.K.’s Gaeseong Industrial ComplexShinwon Group, a leading fashion retailer, was one of the first South Korean companies to enter the inter-Korean industrial complex in Gaeseong, the North Korean border town, in 2004.Despite the political tension between the two Koreas, Shinwon chairman Park Sung-chul still has no doubts about the decision he made eight years ago.“North Koreans are skilled workers as they are willing to work
IndustryMarch 6, 2012
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Apple expected to unveil new iPad
Apple is expected to reveal a new version of its coveted iPad on Wednesday in its first major media event since the death of legendary founder and beloved pitchman Steve Jobs.In typical Apple style, the California-based company has offered the scantest of hints as to what it will unveil on the stage
TechnologyMarch 6, 2012
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Tool use by brown bear described
Photo by Volker DeeckeA British researcher says he's witnessed a bear in Alaska using a stone to exfoliate, the first time a bear has definitively been known to use a tool.Volker Deecke of the University of Cumbria was on holiday in Alaska's Glacier Bay national park in July 2011 when he spotted a b
TechnologyMarch 6, 2012
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Cancer risk found in Coke, Pepsi: Group
U.S. regulators, reviewing an advocacy group’s complaint that a chemical used in colas causes tumors in animals, said there’s no immediate risk to consumers from the substance. Cans of Coca Cola soft drinks sit on display at a Poundland discount store in Croydon, U.K., on Wednesday, Feb. 1, 20
TechnologyMarch 6, 2012
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Samsung to focus on premium TVs in China
HONG KONG (Yonhap News) ― Samsung Electronics Co. will focus more on the premium TV market in China, company executives said Monday, in a move seen to distinguish itself from cheaper products made by Chinese manufacturers.In the liquid crystal display TV segment, the South Korean tech giant will only sell light emitting diode backlit TVs and discontinue the sale of other kinds of LCD TVs, corporate sources said.Samsung Electronics will be the first TV maker in China to upgrade all of its LCD TV
March 5, 2012
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Hyundai, Kia, BMW to provide vehicles for nuclear summit
Hyundai Motor and its affiliate Kia Motors will help support the 2012 Nuclear Security Summit in Seoul, slated for March 26-27.The two companies delivered 262 vehicles, produced for protocol and guard of the global leaders, to the preparation committee for the summit on Monday.The vehicles included the Equus limousine by Hyundai Motor and the Starex van from Kia Motors, which will be used for the figures from more than 50 countries.The automakers will also run a maintenance team of 70 experts fo
MobilityMarch 5, 2012
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Finance chief opposes higher tax rates
Korea’s top economic policymaker reiterated his opposition Monday to politicians’ demand to raise tax rates on rich people and businesses to finance additional welfare programs. Ahead of parliamentary and presidential elections scheduled for April and December, political parties are rushing to unveil a spate of welfare programs and campaign pledges, many of which policymakers see as “populist” and fiscally “unsustainable.”Some lawmakers claim that the government needs to raise tax rates on the w
March 5, 2012
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Shares end lower on dampened China outlook
Korean stocks closed 0.91 percent lower Monday, as investors sought to offload their holdings after China announced a downward growth target for this year, analysts said. The local currency fell against the U.S. dollar. Moving in a tight range, the benchmark Korea Composite Stock Price Index dropped 18.57 points to 2,016.06. Trading volume was heavy with 541.1 shares worth 5.05 trillion won ($4.51 billion) with decliners outstripping gainers 528 to 297.“China’s growth forecast took the steam out
March 5, 2012
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Foreign reserves hit record high in Feb.
Korea’s foreign exchange reserve soared to a fresh high in February as the strength of the euro and the British pound boosted the conversion value of those assets, the central bank said Monday.The country’s foreign reserves reached a record high of $315.8 billion as of the end of last month, up 4.46 billion from January, according to the Bank of Korea.The previous record was $312.29 billion set in August last year. Asia’s fourth-largest economy saw its foreign reserves surpass the $300 billion m
March 5, 2012