Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Bahk raps city’s bus, subway fare hikes
Korea’s top economic policymaker voiced discontent Friday with the decision by the Seoul government to raise public transportation fares, saying it could drive up overall inflationary pressure in Asia’s fourth-largest economy.The Seoul government said Thursday it will raise public transportation fares by 150 won ($0.13) later this month to make up for rising deficits from energy costs and transfer discounts.“We are deeply disappointed with the decision, which came despite our repeated expression
Feb. 3, 2012
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Korea to support SMEs to boost trade
Korea will intensify its efforts to nurture more small and mid-sized exporting companies to help the nation’s annual trade volume exceed $2 trillion by 2020, the Commerce Ministry said Friday.Korea’s trade volume topped $1 trillion in early December for the first time in its history, making the country the world’s ninth to have ever reached the $1-trillion mark in trade.According to the ministry, the government plans to foster 20,000 more small and mid-sized exporters by 2020 through programs ai
Feb. 3, 2012
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Fake social network accounts in dispute ahead of elections
Politicians rush to improve Twitter, Facebook profiles amid growing worry over artificial enhancementKorea’s politicians are desperately scrambling to boost their influence on social networks ahead of the parliamentary elections. How desperately? Some allegedly buy new Twitter accounts with more followers, a practice that is muddying their already tainted reputations. Although there are no official numbers of how many fake Twitter, Facebook and other social network accounts are traded in return
TechnologyFeb. 3, 2012
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Lotte shakes up CEOs of subsidiaries
Lotte Group on Friday replaced the chief executives of about 10 subsidiaries, naming its home shopping arm chief as the head of its department store operator.Lotte Home Shopping CEO Shin Heon was appointed CEO of Lotte Department Store, succeeding Lee Chul-woo who will take charge of the conglomerate’s external affairs.Kim Yong-su, senior vice president and CEO of Lotte Samkang, was promoted to executive vice president and CEO of Lotte Confectionery, replacing Kim Sang-hoo. KP Chemical CEO Huh S
IndustryFeb. 3, 2012
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Watchdog to probe coffee shop chains
The nation’s antitrust watchdog said Friday it will probe five major coffee shop chains, including Caffe Bene, over allegations of unfair treatment of franchises. The Fair Trade Commission plans to begin the inquiry in April, and focus on unfair practices by the headquarters such as forcing franchises to pay for interior renewals.“We received reports on unfair practices by some of the coffee shop chain headquarters,” an FTC official said.“We plan to launch a sweeping inquiry to help franchise ow
IndustryFeb. 3, 2012
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POSCO, Hyundai Heavy production increase
POSCO said Friday its net profit last year dropped 11.6 percent to 3.7 trillion won ($3.3 billion) on raw material price hikes and the weak domestic currency despite record sales.The steelmaker said its operating profit fell only 0.3 percent from a year ago to 5.41 trillion won as it increased the use of lower-priced raw materials and recycling of by-products.POSCO’s steel production last year hit its highest point ever at 37.32 million tons, up 10.7 percent from a year earlier` as new productio
IndustryFeb. 3, 2012
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LG chief: Price will be paid for price-fixing
Chairman Koo calls for executives’ efforts to be fair and become global market leaderLG Group chairman Koo Bon-moo said Friday that he will punish any employee involved in price-fixing, saying it goes against the group’s business policies.In a session held to educate the group’s new top executives, anyone ― regardless of the person’s rank ― will take full responsibility for he or she has taken away the customer’s trust in LG, said Koo.“Price-fixing is an action that can’t be permitted by a group
IndustryFeb. 3, 2012
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Debates growing over KDB Financial privatization
Ministry’s excluding KDB from list of public agencies ignites pros and consThe government’s recent decision to exclude KDB Financial Group from the list of public corporations has paved the way for the lender to speed up its privatization project, financial sources said.In late January, the Finance Ministry took the state-run financial group off the yearly list of public agencies.But the government’s policy, which has paved the way for KDB Financial to push for a stake sale, is inviting contradi
Feb. 3, 2012
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New chief named for GM Korea
GM Korea named Sergio Rocha, head of its Argentina, Uruguay and Paraguay branch, the new CEO of the Korea office, the company said Friday. Rocha, scheduled to head the branch from March 1, replaces John Buttermore, who was holding the interim chief position after Mike Arcamone resigned in January. Arcamone left for Canadian aircraft manufacturer Bombardier Commercial Aircraft after two and a half years in Seoul.“We are pleased to have Sergio taking over GM’s growing operations in Korea,” said GM
IndustryFeb. 3, 2012
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KOSPI holds steady on mixed data
Seoul shares barely budged before the 2,000 mark level Friday as mixed economic data and weaker-than-expected earnings undermined investor sentiment. Analysts projected the benchmark KOSPI to stay above the 2,000 level next week under the scenario that the U.S. jobs indicator continues to improve. The KOSPI lost 0.6 percent to close at 1,972.34, ending a relatively stable week after a three day winning streak. The junior KOSDAQ gained 0.1 percent to 522.59. The local currency traded flat, gainin
Feb. 3, 2012
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Brains of addicts are inherently abnormal: study
Drug addicts have inherited abnormalities in some parts of the brain which interfere with impulse control, said a British study published in the United States on Thursday. Previous research has pointed to these differences, but it was unclear if they resulted from the ravages of addiction or if they were there beforehand to predispose a person to drug abuse.Scientists at the University of Cambridge compared the brains of addicts to their non-addicted siblings as well as to healthy, unrelated v
TechnologyFeb. 3, 2012
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Valentine's Day may be worst day to kiss
Valentine's Day falls smack dab in the middle of flu and cold season, so kissing may not be such a good idea, a U.S. infectious disease expert suggests.Dr. Jorge Parada, medical director, infectious disease at Loyola University Health System in Maywood, Ill., said changing weather or temperatures ar
TechnologyFeb. 3, 2012
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Blood test detects depressed patients
A blood test analyzing levels of nine biomarkers accurately distinguished patients diagnosed with depression from others, U.S. researchers said.MCTLead author Dr. George Papakostas of the Massachusetts General Hospital said previous efforts to develop tests based on a single blood or urinary biomark
TechnologyFeb. 3, 2012
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Hynix sets 4.2 trillion won facility investment plan
Hynix Semiconductor said Thursday it will inject 4.2 trillion won in facility investments this year, up 20 percent from last despite the unfavorable market conditions in the semiconductor industry.Kwon Oh-chul, chief executive of Hynix, said the firm will spend up to 60 percent on NAND Flash memory, used in smartphones and tablet PCs, whereas it spent about 70 percent of facility investments in DRAM last year.“NAND Flash demand will be driven by mobiles and Solid State Drive notebooks,” he said
IndustryFeb. 2, 2012
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Korea’s industrial output to remain weak for some time: IBs
Major foreign investment banks predicted that South Korea’s industrial output will likely remain weak for some time, citing less demand for its products caused by the toughening external market conditions, a report showed Thursday.Korea’s industrial output grew 2.8 percent in December from a year earlier, slowing from a 5.8 percent gain in November.It shrank 0.9 percent on-month in December, marking the third straight month that production declined.Foreign IBs said that the sluggish global shipy
Feb. 2, 2012
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Foreign stock buying hits record
Foreign investors snapped up a record amount of South Korean stocks on a monthly basis in January amid signs of recovery in the U.S. economy and easing global uncertainties, the financial watchdog said Thursday.Overseas investors bought a net 6.2 trillion won ($5.5 billion) of local stocks last month, compared with a net purchase of 113.4 billion won in December, according to the Financial Supervisory Service.The figure marks a new record high for monthly purchases.Overseas investors offloaded 9
Feb. 2, 2012
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Varied diet reduces risk of metabolic syndrome
Not being too choosy about food provides a better chance of preventing metabolic syndrome, the Korea Food and Drug Administration said Friday. According to the U.S. National Health, Lung and Blood Institute, metabolic syndrome refers to a group of risk factors that raise the risk of heart disease and other health problems, such as diabetes and stroke.A research team at the organization conducted a cohort study of 6,640 adults living in the Ansan and Anseong regions of Gyeonggi Province from 2001
TechnologyFeb. 2, 2012
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More veggies, whole grains at school
ALEXANDRIA, Virginia (AP) ― The first major nutritional overhaul of school meals in more than 15 years means most offerings ― including the always popular pizza ― will come with less sodium, more whole grains and a wider selection of fruits and vegetables on the side.First lady Michelle Obama and Agriculture Secretary Tom Vilsack announced the new guidelines during a visit Wednesday with elementary students. Mrs. Obama, also joined by celebrity chef Rachael Ray, said youngsters will learn better
TechnologyFeb. 2, 2012
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FDA clears drug for advanced kidney cancer
WASHINGTON (AP) ― Patients with hard-to-treat kidney cancer that has spread to other parts of the body gained a new drug option Friday, after federal regulators approved a twice-a-day pill from Pfizer for the disease.The Food and Drug Administration approved the company’s drug Inlyta as a secondary option for patients with renal cell carcinoma that hasn’t responded to previous drug treatments. Renal cell carcinoma is the most common form of kidney cancer, with an estimated 61,000 people in the U
TechnologyFeb. 2, 2012
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Kangbuk Samsung Hospital to open international clinic
Kangbuk Samsung Hospital said Thursday that it will open an international clinic on Feb.16 at the Samsung office building in Taepyeongno, central Seoul.Located 500 meters from Seoul City Hall, the clinic expects to cater mostly to expats and foreign tourists. It will share facilities and infrastructure with the Samsung hospital.The hospital conducts joint studies with Johns Hopkins University and has been praised as one of the leading medical institutions in preventative medicine. All its system
TechnologyFeb. 2, 2012