Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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Import car sales drop for first time in 28 months
The nation’s import car industry saw its monthly sales fall for the first time in 28 months in December 2011.According to the Korea Automobile Importers and Distributors Association, foreign carmakers reported combined sales of 7,879 units last December, down from 8,294 units a year earlier.The year-on-year drop in sales was the first since the figure stood at 3,612 units in August 2009, compared with 4,894 units in August 2008.In addition, the figure of 7,879 is quite low compared to the 9,230
MobilityJan. 4, 2012
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Grandeur bolsters market share of semi-large cars
The market share of semi-large cars such as the Hyundai Grandeur surged past 10 percent for the first time last year, shrinking that of midsize vehicles.Passenger cars sold by the nation’s five automakers are classified into six segments in terms of size and engine displacement in Korea ― large, semi-large, midsize, semi-midsize, compact and mini-cars.The semi-large segment is comprised of the Grandeur, Renault Samsung SM7, Kia K7 and GM Korea’s Alpheon, which accounted for 10.8 percent of all n
IndustryJan. 4, 2012
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Calories, not protein, boost body fat: study
People who eat too much of a high-calorie, low-protein diet tend to gain more body fat than people who overeat high amounts of protein, US researchers said Tuesday.A study published in the January 4 issue of the Journal of the American Medical Association included 25 people in Louisiana who agreed t
TechnologyJan. 4, 2012
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Samsung seeks to build new NAND flash plant in China
South Korea's Samsung Electronics Co., the world's largest chipmaker, is seeking to build a new plant in China to produce high-tech NAND flash memory chips, the Seoul government said Wednesday.The move that could lead to technology leaks was filed by Samsung on Dec. 6 and was approved Wednesday by a
IndustryJan. 4, 2012
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World-first hybrid shark found off Australia
SYDNEY, Jan 3, 2012 (AFP) - Scientists said on Tuesday that they had discovered the world's first hybrid sharks in Australian waters, a potential sign the predators were adapting to cope with climate change.The mating of the local Australian black-tip shark with its global counterpart, the common bl
TechnologyJan. 4, 2012
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Chinese firm makes Steve Jobs action figure
source: inicons.com source: inicons.comA China-based company plans to begin shipping a realistic-looking Steve Jobs action figure in February.It remained to be seen whether Apple will take to the courts to block In Icons from selling the 30.4-centimeter (one foot) tall dolls crafted in the imag
TechnologyJan. 4, 2012
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Local brewery exports ‘bokbunja’ wine to China
Baesangmyun Brewery Co. has recently started exporting wine made with Korean blackberries ― called bokbunja ― to China.The company said Tuesday it clinched a contract worth 200 million won ($174,000) last month with Qingdao Hongbo Import & Export Co., a trading firm, to supply 60,000 bottles of the wine throughout this year. “The deal signifies the upbeat outlook for the Korean alcoholic beverage industry as China is emerging as one of the world’s biggest wine consumers, spurred by the rising in
IndustryJan. 4, 2012
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GS E&C aims to triple sales, operating profit by 2020
GS Engineering & Construction Corp. aims to more than triple its sales and operating profit and secure 35 trillion won ($30.4 billion) in overseas orders by 2020 as part of its long-term roadmap to become a global player.Korea’s third-largest builder on Monday unveiled ambitious goals of making 27 trillion won in sales and 2 trillion won in operating profit by 2020, both up more than 330 percent from 2010. Its orders totaled 14 trillion won in 2010. The company said it will also boost internatio
IndustryJan. 4, 2012
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Household debt, savings bank woes threaten finance sector
Rising household debt and trouble-laden savings banks pose a threat to Korea’s financial sector, which has long been protected and pampered by government-led bailouts and injections of public funds, analysts said Tuesday. The country’s banks and other financial companies confront a toxic mix of slower global growth and the protracted sovereign debt crisis in Europe, a precarious situation that could potentially increase the chance of bankruptcies here. “Banks handle a lot of loan-related busines
Jan. 4, 2012
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Foreign reserves fall for 2nd month in December
South Korea’s foreign exchange reserves declined for a second consecutive month in December as a weaker euro and a softer pound reduced the conversion value of non-dollar assets, the central bank said Tuesday.The country’s foreign reserves reached $306.4 billion last month, down $2.23 billion from the previous month, according to the Bank of Korea. The December reading marked the second straight monthly decline since the foreign reserves hit $310.98 billion in October. “The biggest reason was th
Jan. 4, 2012
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[MEET THE CEO] Seoul gateway to growth for Cushman & Wakefield
Global brokerage pins high hopes on retail market in AsiaFrom New York to London to Tokyo, any newcomer business seeks sound and effective investment in office, industrial or retail space to lay a firm footing in the market. Behind the bets was Cushman & Wakefield Inc., which has been consulting corporate clients on leasing, sales and management services for real estate across the globe for nearly a century.Since the 1997 opening of its Korean unit, the New York-based brokerage has witnessed th
IndustryJan. 4, 2012
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AhnLab’s price to earnings ratio breaks 100
Speculation over company founder’s presidential bid drives up stock priceThe stock price to earnings ratio of AhnLab Inc. soared over 100 Tuesday as the founder of the anti-virus software company continues to be counted as a strong presidential hopeful for the opposition bloc.It is the first time a company of this size has seen its PER, or the price paid for a share divided by the annual net income earned by the firm per share, reach 110 since the dotcom bubble about 10 years ago. AhnLab’s stock
IndustryJan. 3, 2012
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SK chairman steps up to normalize management
SK Group chairman Chey Tae-won instructed chief executives of affiliate companies to promptly normalize management on Tuesday, a day after other chaebol chiefs announced their business plans for the new year.The nation’s third largest conglomerate in asset value put off its annual year-end personnel reshuffle and finalizing of investment plans for 2012 as Chey and his younger brother went through prosecutorial investigation on charges of embezzlement to make up for losses in futures trading. Vic
IndustryJan. 3, 2012
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Shares end up 2.69 percent on Europe optimism
South Korean stocks jumped 2.69 percent Tuesday as investor sentiment was boosted by better-than-expected European economic data that showed signs of recovery, analysts said. The local currency rose against the U.S. dollar.The benchmark KOSPI jumped 49.04 points to 1,875.41. Trading volume was heavy at 437.9 million shares worth 4.8 trillion won ($4.2 billion), with gainers outnumbering losers 572 to 261.“Positive economic data in Europe provided a boost to a new-year rally,” said Um Tae-woon, a
Jan. 3, 2012
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GS E&C aims to triple sales, operating profit by 2020
GS Engineering & Construction Corp. aims to more than triple its sales and operating profit by 2020 and secure 35 trillion won ($30.4 billion) in overseas orders as part of its long-term roadmap to become a global player.Korea’s third-largest builder on Monday unveiled ambitious goals of making 27 trillion won in sales and 2 trillion won in operating profit by 2020, both up more than 330 percent from 2010. Its orders totaled 14 trillion won in 2010. The company said it will also boost internatio
IndustryJan. 3, 2012
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Samsung rolls out printers designed for smartphones
Samsung Electronics said Tuesday it rolled out a printer that does not need to be connected to a computer and can connect to a smartphone for printing and scanning.The wireless model of the printer series ML-2160 and SCX-3400 is installed with Wi-Fi Direct, allowing it to be controlled from a smartphone or other smart gadget, according to company officials.By downloading “Samsung mobile printing” applications from the Android or Apple mobile application stores, people can print files saved on th
IndustryJan. 3, 2012
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LG targets N. America 3-D audio market
LG Electronics said Tuesday it is launching three different 3-D home theater products in the North American area beginning in March as the firm aims to gain shares in the region’s 3-D audio and video markets.With plans to encourage people to think of LG when it comes to 3-D, the local electronics giant will display its new 3-D home theater lineup together with the firm’s Cinema 3-D TV at stores across the region in the first half of this year, said company officials.The three different models th
IndustryJan. 3, 2012
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Ssangyong targets 123,000 unit sales
Ssangyong Motor Co., South Korea’s smallest automaker, said Tuesday that it aims to sell 123,000 vehicles this year with sales reaching 3.19 trillion won ($2.77 billion) in order to overcome deepening market uncertainties.The automaker sold 113,000 vehicles last year, a 38.2 percent surge from the previous year.Of the total, 38,651 vehicles were sold at home and 74,350 in overseas markets.The company said it set an ambitious sales target for 2012 despite the global economic slowdown, and vowed t
MobilityJan. 3, 2012
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Korean automakers to keep momentum this year
HONG KONG (Yonhap News) - South Korean automakers are likely to maintain upward momentum this year, driven largely by brisk overseas demand, experts said Tuesday.Hyundai Motor Co. and Kia Motors Corp. expect weaker growth in sales this year, citing a slow-down in the global auto industry.The two flagship companies of Hyundai Motor Group saw their combined sales pass 6.59 million units last year, exceeding the 6.33 million sales target set in early 2011.“Hyundai and Kia are aiming for combined sa
MobilityJan. 3, 2012
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Foreign IBs forecast Korea to cut key rate this year
Foreign investment banks predict South Korea’s central bank will slash its key rate this year as exports and domestic demand are likely to cool on the persistent eurozone jitters, data showed Tuesday.Deutsche Bank and other major IBs have projected that the Bank of Korea will likely lower the benchmark 7-day repo rate to 3.15 percent by the third quarter of 2012, or 0.1 percentage point lower than the current figure, according to the data by the Korea Center for International Finance. The BOK fr
Jan. 3, 2012