Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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High-spending households increase
South Korean households with monthly spendings of 4 million won ($3,450) or more are on the rise as prices for essentials increase, a report showed Wednesday.According to Statistics Korea, such households in the highest spending bracket accounted for 10.51 percent of all households in the third quarter of the year, exceeding the 10-percent mark for the first time.The comparable figure for 2010 was 8.79 percent, the statistics agency said, adding that spending on a vast array of goods and service
Dec. 14, 2011
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Shares end lower on lack of U.S. Fed stimulus
South Korean stocks closed 0.34 percent lower on Wednesday as the Federal Reserve failed to lay out new stimulus measures to prop up the economy, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI fell 6.31 points to 1,857.75. Trading volume was moderate at 396.6 million shares worth 4.36 trillion won ($3.77 billion), but gainers outpaced losers 433 to 381.“The market was largely lackluster. The Seoul bourse started weaker due to a lack of the Fed’s fresh economic
Dec. 14, 2011
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Businesses honored for product innovation
The 37th Korea National Quality Awards were held Tuesday at COEX Auditorium in Samsung-dong, southern Seoul, with Vice Economy Minister Yoon Sang-jik and representatives of some 1,600 company in attendance.The event, hosted by the Korea Agency for Technology and Standards and organized by the Korean Standards Association, honors entrepreneurs and businesses that have shown achievements through quality management. Eighty-one individuals received awards, with WOORY Industrial Company CEO Kim Myung
IndustryDec. 14, 2011
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SC First to cut 13% of staff via voluntary redundancy
SC First Bank, the local unit of the British banking group Standard Chartered, plans to accept the request of all 813 workers who applied for early retirement, the bank said Wednesday, cutting 13 percent its workforce as part of cost cutting reforms.“We plan to accept all 813 applications for voluntary redundancy. They will work until the end of the month,” a spokeswoman at the bank said.The bank started taking applications for voluntary redundancy from those who are aged 35 or more and have wor
Dec. 14, 2011
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FSC suspected of Lone Star lies
Report says 2003 documents were written by regulators, not accounting firmFinancial regulators are suspected of fabricating documents on Lone Star Funds in 2003 when Korea Exchange Bank was acquired by the buyout fund, according to a news report.At least over the past few months, the Financial Services Commission (then the Financial Supervisory Commission) has argued that the records, submitted by an accounting firm, prove that Lone Star was eligible to own a Korean bank.But the documents were a
Dec. 14, 2011
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S&P affirms credit rating on S. Korea
Global credit ratings agency Standard & Poor's said Wednesday it has affirmed its sovereign credit rating for South Korea, citing the nation's fiscal soundness and its net external creditor position.According to an e-mailed statement, S&P said that it has decided to maintain the credit rating on Sou
Dec. 14, 2011
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Israeli scientists develop cancer 'cluster bomb'
Israeli medical researchers say they have developed a new technique for blasting cancer tumours from the inside out which reduces the risk of the disease returning after treatment.Tel Aviv University professors Yona Keisari and Itzhak Kelson are about to start clinical trials of a pin-sized radioact
TechnologyDec. 14, 2011
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Facebook aims to help prevent suicide
MENLO PARK, California (AP) _ Facebook is making it easier for people who express suicidal thoughts on the social networking site to get help.A program launching Tuesday enables users to instantly connect with a crisis counselor through Facebook's “chat” messaging system.The service is the latest to
TechnologyDec. 14, 2011
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Founding Apple contract sells for $1.6 million
A three-page contract that established Apple Computer Co. (AAPL) sold for $1.59 million at Sotheby’s (BID) in New York today, soaring past the presale estimate of $100,000 to $150,000. The bidding started at $70,000 in a half-empty room attended by about 20 people and almost as many Sotheby’s staffe
TechnologyDec. 14, 2011
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Learning high-performance tasks with no conscious effort may soon be possible
TechnologyDec. 14, 2011
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New operating system for space: High-tech tycoons
SEATTLE (AP) -- The tycoons of cyberspace are looking to bankroll America's resurgence in outer space, reviving ``Star Trek'' dreams that first interested them in science.Microsoft co-founder Paul Allen made the latest step Tuesday, unveiling plans for a new commercial spaceship that, instead o
TechnologyDec. 14, 2011
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New data said to narrow search for Higgs particle
GENEVA (AP) _ One of two research teams searching for an elusive sub-atomic particle believed to be a basic building block of the universe announced Tuesday that new data show it is more likely to be found in the lower energy ranges of the massive atom smasher being used to track it down.A document
TechnologyDec. 14, 2011
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‘Steel king’ behind Korea’s economic miracle
POSCO founder who also served as prime minister leaves trailblazing legacyPOSCO’s honorary chairman Park Tae-joon, who died on Tuesday at age 84, was a trailblazer who paved the way for the nation to become one of the world’s top steel-making countries.Park, one of the icons of Korea’s economic success, left a legacy in two sectors, business and politics, but earlier said he would be remembered as a businessman. Throughout his life, he led a remarkable career as the country’s top businessman who
IndustryDec. 13, 2011
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Lone Star records to be disclosed Dec. 15
Opposition lawmakers call for parliamentary probe into FSC over KEB dealFinancial regulators are expected to make public their stance on Lone Star Funds this week as to whether the U.S.-based fund was eligible to own Korea Exchange Bank between 2003 and 2006.“The Financial Services Commission has notified that it would send related documents on Lone Star to us on Dec. 15,” a researcher of the Solidarity for Economic Reform said Tuesday.The regulator’s coming move reflects a Nov. 24 ruling by the
Dec. 13, 2011
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[URGENT] POSCO founder Park Tae-joon dies at 84
POSCO founder Park Tae-joon, who pioneered the steel sector in a barren tract of Korea, died on Tuesday at age 84.His death came after a decade-long battle with a tumor in his lung. Park has been suffering from side effects related to a 2001 surgery, and had one of his lungs and pulmonary pleura rem
IndustryDec. 13, 2011
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FSC may be put under parliamentary probe
Opposition submits proposal to investigate into regulator’s OK of fund’s takeover of KEBFinancial regulators are expected to make public their stance on Lone Star Funds this week as to whether the U.S.-based fund was eligible to own Korea Exchange Bank between 2003 and 2006.“The Financial Services Commission has notified that it would send related documents on Lone Star to us on Dec. 15,” a researcher of the Solidarity for Economic Reform said Tuesday.The regulator’s coming move reflects a Nov.
Dec. 13, 2011
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Lotte hopes to buy Hi Mart
Lotte Group hopes to acquire Hi Mart, the nation’s largest electronics appliance retailer, in an apparent bid to gain a new growth engine. Lotte revealed its intention to buy Hi Mart on Monday when the Korea Exchange asked the retail giant to confirm the rapidly spreading market speculation. “We are not considering specifics as Hi Mart has yet to announce the details on its sale of shares. But we plan to decide on the participation in an opening bid,” the company said on Monday. The comment came
IndustryDec. 13, 2011
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Shares end 1.88% lower on eurozone woes
South Korean stocks closed 1.88 percent lower on Tuesday as investors had growing skepticism about the effectiveness of a new fiscal treaty for the European Union, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI fell 35.7 points to 1,864.06. Trading volume was moderate at 442.9 million shares worth 5.21 trillion won ($4.51 billion) with losers outpacing gainers 613 to 224.“The Seoul market lost ground on concerns that EU summit results may be short of fundament
Dec. 13, 2011
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Young customers account for 22% of import car buyers
The ratio of young customers to total buyers of import cars has surged by about 10 percentage in five years.According to the Korea Automobile Importers and Distributors Association, the number of buyers of foreign-made cars in their 20s and 30s accounted for 22.7 percent of customers in 2011, compared to 12 percent in 2006.The proportion young customers in the import automobile market, which stayed below 10 percent 10 years ago, continued to increase to 17.6 percent in 2009 and 20.3 percent in 2
MobilityDec. 13, 2011
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Panel fails to vote on profit-sharing plan
Former Prime Minister Chung Un-chan criticized the country’s large firms on Tuesday, asking that they feel greater social responsibility after a government commission failed to vote on a controversial profit-sharing plan.The Commission on Shared Growth for Large and Small Companies planned to reach a decision on the plan that would have required large firms to share profits with smaller ones in its first-anniversary event in Yeouido. However, the event was ditched by all nine conglomerate-appoi
Dec. 13, 2011