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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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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[Herald Interview] Why Toss invited hackers to penetrate its system
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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Korean, Romanian leaders discuss defense tech, nuclear energy
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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LGE to raise W1tr via share issue
LG Electronics said Thursday it will issue new shares worth about 1.062 trillion won ($939 million), for the first time in six years in a sign that the company is in need of financing facility investments and other capital expenditures for next year.The company announced that it will issue 19 million new shares priced at 55,900 won per share and list them on Jan. 9.“The purpose of issuing new shares is to increase the competitiveness of our core businesses, such as smartphones, and secure our in
IndustryNov. 3, 2011
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5 credit card firms face security audit
The Financial Supervisory Service is set to conduct inquiries into five credit card companies to monitor their cyber security measures against possible leaks of customer information.The firms are BC Card, Shinhan Card, Hyundai Card, KB Kookmin Card, Lotte Card.BC Card has been scheduled to be under yearly regulatory probe and the remaining four issuers will be subject to extraordinary scrutiny in the wake of the frequent financial accidents in the credit card sector.The FSS has already completed
Nov. 3, 2011
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Wealth inheritance via offshore tax evasion uncovered
The National Tax Service said Thursday that it has collected an additional 278.3 billion won ($246.3 million) from 11 entrepreneurs who have transferred property to their children via overseas tax evasion. It is the first time for the taxation agency to find such illegal cases of property succession using overseas tax havens. Found were cases in which people were engaged in international businesses such as manufacturing, trade and developing natural resources abroad. A company owner, the largest
IndustryNov. 3, 2011
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Removing ‘deadbeat’ cells in mice blunts physical decline from aging
A natural anti-cancer mechanism that causes cells to stop dividing and go into limbo also drives the aging process, according to a study in mice that found removing the cells slows the physical decline that comes with age. The breakthrough answers a riddle about the effect of the cells that ref
TechnologyNov. 3, 2011
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Yahoo hopes to reach readers with iPad magazine
SUNNYVALE, Calif. (AP) — Yahoo has begun to distribute an iPad magazine that illuminates the Internet company's ambitions and the chronic hiccups that have thrown its fate into doubt.The free magazine, called Livestand, has intriguing potential because its software can be customized to pull a
IndustryNov. 3, 2011
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FDA approves innovative, non-invasive heart valve
WASHINGTON (AP) — Federal health officials have approved a first-of-a-kind artificial heart valve that can be implanted without major surgery, offering a new treatment option for patients who are too old or frail for the chest-cracking procedure currently used.The Food and Drug Administration
TechnologyNov. 3, 2011
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Corporate regulator puts 13 more firms on watch list
SEOUL, Nov. 3 (Yonhap) -- South Korea's antitrust watchdog said Thursday that it has placed 13 more companies on its watch list that limits mutual investments and loan guarantees.The Fair Trade Commission (FTC) said the number of corporate affiliates on the list stood at 1,618 from 55 business group
Nov. 3, 2011
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FSC under pressure to penalize Lone Star
The Financial Services Commission has been under mounting pressure to take stern action against Lone Star Funds, which was convicted of manipulating stocks of Korea Exchange Bank’s credit card affiliate.In particular, a group of lawmakers, professors and lawyers are calling on the FSC to reject Hana Financial Group’s application to acquire KEB from Lone Star.Their calls come amid speculation that the FSC may “simply” order the U.S.-based fund to dispose of its stake in KEB, a decision that could
Nov. 2, 2011
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Asiana short film festival kicks off
The Asiana International Short Film Festival kicked off at the Cine Cube cinema in central Seoul on Wednesday. The annual event, held for the ninth time, is the largest of its kind in Korea.According to Asiana Airlines, the film festival’s main sponsor, this year’s event will be held on the largest scale yet with 2,173 films produced in 90 countries being shown during its six-day run.The festival will include a special program offering a chance to view the early works and the latest offerings fr
IndustryNov. 2, 2011
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Apple to sell iPhone 4S in Korea from Nov. 11
Apple Inc. said that the U.S.-based company plans to launch its new iPhone 4S in the South Korean market on Nov. 11.Apple said on its Web site on Tuesday that it will launch the iPhone 4S in 15 countries including South Korea and Hong Kong and customers will be able to pre-order the smartphone starting Friday.Apple has applied for a radio wave certificate at a South Korean national agency for its iPhone 4S, signaling that the launch of its latest smartphone in Korea is imminent.The iPhone 4S was
TechnologyNov. 2, 2011
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Car insurance losses bite into insurers’ earnings
South Korea’s non-life insurers suffered massive losses from their car insurance business in the fiscal first half as heavy summer downpours led to a surge in claims, watchers said Wednesday.The combined net loss of 14 local non-life insurers’ auto insurance businesses reached 108.3 billion won ($959.1 million) in the April-September period, according to industry data. Local insurers close their books on March 31.The losses were mostly attributed to severe flooding in July that swamped thousands
Nov. 2, 2011
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Yoga aids back pain sufferers: study
WASHINGTON (AFP) ― People who took yoga classes for chronic lower back pain experienced more lifestyle improvements and better overall health than those who sought a doctor’s advice, said a study published Monday.The research in the U.S. journal the Annals of Internal Medicine, led by scientists at the University of York, included more than 300 people and was described as the largest of its kind to date in the United Kingdom.Researchers derived their study samples from a group of people who were
TechnologyNov. 2, 2011
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Samsung edged out by HTC in U.S. smartphone market
Samsung Electronics Co. took second place in the U.S. smartphone market during the third quarter, trailing behind Taiwan-based HTC Corp., a market research firm said Wednesday. Even though Samsung became the leading smartphone maker worldwide, it lagged behind HTC in the worl
BusinessNov. 2, 2011
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FSC under pressure to penalize Lone Star
Critics call for regulator to reject Hana’s KEB takeoverThe nation’s financial regulator has been under mounting pressure to take stern action against Lone Star Funds, which was convicted of manipulating stocks of Korea Exchange Bank’s credit card affiliate.In particular, a group of lawmakers, professors and lawyers are calling for the Financial Services Commission to reject Hana Financial Group’s application to acquire KEB from Lone Star.Their calls come amid speculation that the FSC may “simpl
Nov. 2, 2011
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Financial market little affected by Greek crisis
Local analysts optimistic that referendum on bailout unlikely to happen in GreeceKorea’s stock market ended slightly lower on Wednesday, erasing earlier losses sparked by the heightened concern that a Greek referendum might derail Europe’s rescue plan. The benchmark KOSPI index closed down 11.62 points, or 0.61 percent, to 1,898.01. The tech-packed junior KOSDAQ eked out a gain of 1.13 points, or 0.23 percent, to end at 483.49.The Korean won opened at 1,131 won in a reflection of shaky sentiment
Nov. 2, 2011
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Foreign exchange reserves...rebound on less intervention
The central bank’s stockpile of foreign exchange reserves rebounded in October, indicating it poured in less money to tame currency volatilities amid deepening sovereign debt crisis in Europe.Data released by the Bank of Korea Wednesday said its foreign exchange reserves posted the largest monthly gain in six months to $310.98 billion in October on higher returns from investments. The bank said the increase of $7.6 billion from September is also attributed to the weakening of the U.S. dollar, wh
Nov. 2, 2011
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Scientists detect new toxic plankton off Jeju
A group of scientists in a government-led project have found four new types of toxic microorganism in the waters off Jeju Island. They say their appearance could be evidence of the long-term rise in ocean temperatures here.Two of them produce palytoxin, one of the deadliest toxins known to humans, the Ministry of Maritime Affairs said Wednesday. One gram of palytoxin can kill about 170 million mice.The team led by Lee Won-ho of Kunsan National University and Jeong Hae Jin of Seoul National Unive
IndustryNov. 2, 2011
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Foreign investors buy Korean stocks, bonds in October
Foreigners snapped up around 2.63 trillion won ($2.33 billion) worth of South Korean equities and debts in October amid softening concerns over a global financial meltdown, data showed Wednesday.Overseas investors picked up a net 1.04 trillion won of equities, raising their share holdings to 367.87 trillion won as of October, compared with 339.1 trillion won in the previous month, according to the data by the Financial Supervisory Service.The October rebound halted their two-month selling streak
Nov. 2, 2011
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Hite Jinro’s soju, beer exports to hit record high
Hite Jinro Co., South Korea’s No. 1 beer and soju producer, said Wednesday that its exports will reach a new record high in 2011 thanks to strong overseas demand.In the first nine months of this year, exports surged 30.3 percent to reach $107.15 million, surpassing the previous record of $107.08 million shipped out for the whole of last year, the company said.Sales of soju, a Korean distilled beverage made from rice and other starches, hit $41.78 million with beer sales topping $54.89 million at
IndustryNov. 2, 2011
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Kia Motors to build 3rd plant in China
Kia Motors Corp., South Korea’s No. 2 automaker, signed an investment contract on Wednesday to build a new Chinese assembly plant in an effort to better meet demand growth in the world’s largest car market.The deal calls for the Kia plant, which will be the third in the country, to be built by the second half of 2014 and have an annual production capacity of 300,000 cars.This output will compliment the 430,000 cars that are currently being made by the carmaker’s two car assembly lines in Yanchen
MobilityNov. 2, 2011