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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Korean, Romanian leaders discuss defense tech, nuclear energy
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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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N. Korea sends economic delegation to Iran amid suspected military cooperation
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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Banks’ short-term foreign borrowing up in December
Korean banks’ short-term overseas borrowing climbed in December as lenders rushed to secure foreign currency liquidity amid concerns over a deterioration in external conditions, the financial watchdog said Monday.A total of 16 local banks refinanced 120.3 percent of their maturing short-term foreign debts through fresh borrowing last month, compared with 95.9 percent in November, according to the Financial Supervisory Service.The rollover rate gauges the percentage of fresh overseas borrowing ag
Jan. 16, 2012
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Foreign investors boost holdings of Korean Treasuries
Foreign investors scooped up Korean Treasuries last year as Korean debts emerged as relatively safer assets compared to those in slumping Europe and the U.S., data showed Monday.The outstanding amount of South Korean Treasuries held by foreigners reached 61 trillion won ($53.1 billion) at the end of last year, up 27.8 percent from a year ago, according to the data by the Korea Exchange. The proportion of foreign investors in the Korean bond market stood at 15.6 percent. Foreign investors’ won-de
Jan. 16, 2012
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Individual investors make more risky trades
Despite the sluggish stock market, Korea’s individual investors showed a stronger appetite for risky investment vehicles, raising worries over the side effects. According to data by the Korea Exchange, individual investors accounted for 37.2 percent of KOSPI 200 stock futures trades in terms of value in the fourth quarter of last year. The figure marks a 10-percentage point increase from 27.2 percent a year earlier. The proportion of individual investors in the highly risky futures trade began t
Jan. 16, 2012
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National pension fund to expand investment in overseas assets: chief
Korea’s national pension fund plans to boost its investment in overseas assets in a bid to expand and diversify its portfolio, the service’s chief said Monday.Jun Kwang-woo, the chairman of National Pension Service said that he plans to increase the fund’s offshore assets in such areas as real estate and equities as part of this year’s broader investment strategy.“We have secured more than 350 trillion won ($304.7 billion) in pension fund reserves despite unfavorable overall economic conditions,
Jan. 16, 2012
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Eurozone rating shock seen having limited impact on Seoul market
Renewed fears about the fiscal crisis in Europe following credit rating downgrades by Standard and Poor’s are likely to have a limited impact on the Korean market, brokerages said Monday.France, Austria and seven other European countries saw their ratings go down a notch or two on Friday, raising concerns about the trouble-laden eurozone and its effect on financial markets worldwide. “The downgrade has been already factored into market prices since Standard and Poor’s put 15 European nations on
Jan. 16, 2012
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German Chamber to discuss Korea’s economic outlook
The Korean-German Chamber of Commerce will host a seminar on Korea’s economic outlook on Jan. 19.The meeting will start with a political overview given by German Ambassador Dr. Hans-Ulrich Seidt followed by a report on the current economic and business situation by Frank Robaschik, correspondent from the Germany Trade and Invest office. KGCCI Treasurer Rene Wittenberg will comment on exchange and interest rates development. There will also be short reports from several industry representatives a
Jan. 16, 2012
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British Chamber’s general meeting due this week
The first general meeting of the year for the British Chamber of Commerce will take place later this week.The meeting runs from noon to 3 p.m. on Jan. 19 at the Grand Hyatt hotel’s Namsan room. On the agenda will be the chairman’s annual report, statement of accounts, election of the executive committee for this year and the appointment of auditors.Voting members are permitted to enter free of charge while non-voting members will pay 60,000 won.Reservations need to be made by Jan. 17 to administ
Jan. 16, 2012
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EUCCK networking meeting in Seoul, Busan
The European Union Chamber of Commerce offices in Seoul and Busan plan to hold networking events this month in their respective cities.The Seoul meeting will take place on Jan. 19 at 6:30 p.m. at the Lotte Hotel’s Pierre Bar on the 35th floor. Cost is 60,000 won for members and 70,000 won for non-members.To book at place call Sophie An at (02) 725-9994 or e-mail eumarketing@eucck.org; more information at www.eucck.org.The chamber’s Busan branch will hold their New Year networking event on Jan. 2
Jan. 16, 2012
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Austcham to host Australia Day festivities on Jan. 27
The Australia Chamber of Commerce will be hosting the largest Australia Day celebration on the Korean Peninsula, organizers said.The chamber plans to showcase Australian produce like wines from Western Australia, Aussie style barbeque by Meat and Livestock Australia, meat pies provided by Jesters Pies, Aussie beer, fish and chips and down-under style desserts including Lamington and Pavlovas.To keep the party going, the chamber employed a classic Australian rock band and will offer prizes.The ev
Jan. 16, 2012
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Incheon stadium designed to turn into park after Asian Games
The Incheon main stadium being built for the 2014 Asian Games will be transformed into a public park after the sports festival, demonstrating a sustainable design in stadiums in Asia, the architecture firm that designed it has said.“I see these sad, empty steel and concrete giant structures. They’re not eyesores because they are like sculptures, but there’s an emotional sadness attached to an empty stadium because you’re always on the outside, never on the inside where the energy is,” said Andre
Jan. 16, 2012
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Lessons for entrepreneurs to flourish
Except for some conglomerates, most companies are bracing for the prolonged global economic slump with plans to downsize or delay investment and recruitment, or to promote managerial efficiency. But a corporate management expert says opportunities for entrepreneurs do not disappear even during an economic crisis.“It’s not that people don’t need TVs anymore, it’s that they don’t need expensive TVs, for example,” said professor Pablo de Holan, IE Business School chair of the Entrepreneurship Manag
Jan. 16, 2012
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2012 big year for Korea-U.S. business
AMCHAM chief says delegations from 22 U.S. states will visit Korea for tradeWith the Korea-U.S. free trade agreement to take effect soon, the American Chamber of Commerce in Korea is gearing up for a busy year promoting the trade pact.High on the list are visits by delegations from 22 U.S. states looking to find partnerships and gain a better understanding of the trade deal.“The federal government gave grants to increase exports. Twenty-two states are coming to Korea, that shows how important th
Jan. 16, 2012
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Arcamone of GM Korea to head Canadian aircraft manufacturer
Mike Arcamone, who recently resigned as chief of GM Korea, is moving to Canada as the new president of Bombardier Commercial Aircraft, the Toronto-based airliner said Monday.The news comes after GM Korea confirmed Arcamone’s abrupt resignation Friday. Arcamone has been with General Motors since 1980 and was recognized for his leadership in launching the Chevrolet brand in Korea last year. The carmaker temporarily replaced Arcamone with John Buttermore, GM International Operations vice president.
IndustryJan. 16, 2012
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India reports new TB strain resistant to all drugs
Indian doctors have reported the country's first cases of ``totally drug-resistant tuberculosis,'' a long-feared and virtually untreatable form of the killer lung disease. (MCT)It's not the first time highly resistant cases like this have been seen. Since 2003, patients have been documented in Italy
TechnologyJan. 16, 2012
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Cable operators stop airing KBS2 TV
Cable TV operators stopped airing programs by KBS 2TV nationwide at 3 p.m. on Monday as they failed to reach an agreement on retransmission fees with the nation’s three terrestrial broadcasters MBC, KBS and SBS. (Yonhap News)An emergency council of some 94 cable stations originally threatened to hal
TechnologyJan. 16, 2012
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Australia experts call for energy drink warnings
SYDNEY, Jan 16, 2012 (AFP) - Researchers in Australia on Monday called for health warnings on caffeine-loaded energy drinks following a spike in the number of people reporting medical problems after drinking them.Health professionals from the University of Sydney's Medical School and the New South W
TechnologyJan. 16, 2012
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Why faces of primates differ dramatically from one another?
A new study gave evolutionary clues to the question of why the faces of primates so dramatically different from one another. UCLA biologists working as "evolutionary detectives" studied the faces of 129 adult male primates from Central and South America. Credit: Stephen Nash"If you look at New World
TechnologyJan. 16, 2012
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Scientists identify receptor for tasting fat
(MCT)A new study for the first time identified a human receptor tasting fat, suggesting that some people may be more sensitive to the presence of fat in foods.The study conducted by researchers at Washington University School of Medicine in St. Louis was published online in the Journal of Lipid Rese
TechnologyJan. 16, 2012
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Russian space probe crashes into Pacific
MOSCOW (AP) _ A Russian space probe designed to boost the nation's pride on a bold mission to a moon of Mars came down in flames Sunday, showering fragments into the south Pacific west of Chile's coast, officials said.Pieces from the Phobos-Ground, which had become stuck in Earth's orbit, landed in
TechnologyJan. 16, 2012
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Hyundai Motor ranks 2nd in Russian market
South Korea’s top automaker Hyundai Motor Co. was the No. 2 seller of vehicles in the Russian imported car market last year, with its affiliate Kia Motors Corp. ranking fourth, industry data showed Sunday.Hyundai Motor sold a total of 163,447 passenger cars and light commercial vehicles in the Russian market last year, trailing only General Motors Co., according to the data.In the overall Russian car market, including foreign and domestic brands, Hyundai Motor placed third, after Russian carmake
IndustryJan. 15, 2012