Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Pandemic left Korea more depressed than before: report
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Korean labor force to shrink by 10 million by 2044: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Govt. asks hospitals to mitigate impact of medical professors' absence
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S. Korea's working-age population to dip nearly 10m by 2044 amid low births
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Doggy patrol team on the move to protect their cities
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Samsung mocks Apple over iPhone alarm glitch
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LG Uplus to cut mobile tariff by 1,000 won
South Korea‘s smallest mobile operator LG Uplus Corp. said Thursday that it will reduce its mobile-phone rates by 1,000 won starting in November, joining its two bigger rivals, which gave into government pressure to cut mobile fees.LG Uplus will start charging 10,900 won as its basic mobile-phone ra
Sept. 1, 2011
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[Herald Interview] Thai convention and exhibition gateway to business in region
Thailand Convention and Exhibition Bureau organized a road show in the Seoul and Busan this week to promote the country’s trade shows as a preferred business platform in Southeast Asia.To make it more attractive, the TCEB has put in place supporting policies for Korean businesses attending such trad
Sept. 1, 2011
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S. Korea's consumer prices grow fastest in 3 yrs in Aug
South Korea's consumer prices grew at the fastest pace in three years in August, raising concerns that inflationary pressure is building up despite the government's anti-inflation efforts, a report showed Thursday.According to the report by Statistics Korea, the country's consumer price index rose 5
Sept. 1, 2011
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NTS investigates 38 cases of offshore tax evasion
The National Tax Service said Wednesday that it is investigating 38 people suspected of stashing personal wealth abroad for tax evasion. The large-scale probe came after the taxation agency for the first time in June had asked some 2,000 individuals to voluntarily report their overseas assets worth
Aug. 31, 2011
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Mandarin Chinese most useful business language after English
Mandarin, China’s official tongue, is also the top language worldwide for business other than English, according to Bloomberg Rankings.Mandarin, spoken by 845 million people, scored highest in a ranking of languages, excluding English, based on business usefulness. The ranking scored languages accor
Aug. 31, 2011
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Samsung Electronics to spend over W10tr on R&D this year
Samsung Electronics Co., the world’s largest memory chipmaker, may spend over 10 trillion won ($9.3 billion) on research and development this year as part of efforts to enhance its global competitiveness, sources said Tuesday.In the first half, the company’s R&D expenditures totaled 4.98 trillion wo
Aug. 30, 2011
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Smaller firms to get W19.4tr in financial support
The government will provide 19.4 trillion won ($18.06 billion) in loans and other financial support for small and medium enterprises as part of its efforts to stabilize the livelihoods of ordinary people ahead of the Chuseok holiday, the finance ministry said Tuesday.Under the plan, which was approv
Aug. 30, 2011
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Korea could lower growth outlook for this year: minister
South Korea could revise downward its growth outlook for this year, the nation's top economic policymaker hinted Monday, citing lingering uncertainties at home and abroad."Overall, there are downside risks (on growth)," Finance Minister Bahk Jae-wan told a forum held in central Seoul. "We stick to o
Aug. 29, 2011
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S. Korea's current account surplus hits 9-month high in July
South Korea's current account surplus increased to the highest level in nine months in July as exports hit a record high even amid global economic uncertainty, the central bank said Monday.The current account surplus reached US$4.94 billion in July, more than doubling from a revised $2.03 billion th
Aug. 29, 2011
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POSCO to open Silicon Valley-style ideas marketplace
POSCO, the country’s leading steel producer, said Thursday it would create an Idea Marketplace for venture firms to trade business concepts to help small and medium enterprises.The marketplace mirrors a mechanism widely used in Silicon Valley, where startup hopefuls pitch ideas to potential investor
Aug. 25, 2011
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Chung family touts 20 years of kinship
The Chung family organization, led by Rep. Chung Mong-joon, celebrated the 20th anniversary of its foundation on Thursday in Seoul.Started in 1991 by Chung Ju-yung, the deceased founder of Hyundai Group, the organization aims at boosting kinship among the people with surname Chung and runs 16 local
Aug. 25, 2011
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Korean builders brace for post-Gadhafi boom
Korean engineering and construction firms are ratcheting up their ambitions in Libya as the waning days of a six-month civil war signal new business opportunities in the North African country. Colonel Moammar Gadhafi’s fate remains uncertain and rebel forces face a long slog to stabilize the country
Aug. 24, 2011
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Japan Credit Rating Cut to Aa3 by Moody's
Japan’s sovereign-credit rating was lowered by Moody’s Investors Service, which cited “weak” prospects for economic growth that will make it difficult for the government to rein in the world’s largest public debt burden. Moody’s lowered the grade by one step to Aa3, with a stable outlook, it said in
Aug. 24, 2011
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Exports to Libya plummet 88 percent
Korea’s exports to Libya dove nearly 88 percent between January and July in the wake of a civil war that has pummeled the North African economy, a report showed Tuesday.According to the Korea International Trade Association, Korean exporters shipped a mere $119 million worth of goods to Libya in the
Aug. 23, 2011
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Flood damage drives car claims to record
South Korean non-life insurers saw the number of monthly car claims reach a fresh high in July, due to damages triggered by the record downpours that pounded the metropolitan area last month, data showed Monday.A total of 11,362 reports on car damages were received in July, with local insurers expec
Aug. 22, 2011
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Renault Samsung staff set up new trade union
Workers at Renault Samsung Motors Co., the local unit of French automaker Renault SA., said Monday that they have launched a new trade union to advance the rights of members.The newly formed labor union consisting of 200 members effectively marks the first time that a union has been set up at the ca
Aug. 22, 2011
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Ships emerge as S. Korea’s No. 1 export item
Ships have emerged as South Korea’s leading export item this year, outpacing overseas sales of other previous flagship goods such as semiconductors and automobiles, customs data showed Monday.South Korea exported $36.13 billion worth of ships during the January-July period, according to data by the
Aug. 22, 2011
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Korea’s quality of life stagnant: report
The quality of life in Korea is one of the lowest among members of the Organization for Economic Cooperation and Development and G20 nations, a Korea Development Institute, report showed Sunday.According to the Ministry of Strategy and Finance, the KDI report on developing indexes for measurin
Aug. 21, 2011
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Korean banks temporarily halt household lending
South Korea's major banks said Thursday that they temporarily suspended the extension of fresh household loans in a bid to join the regulator's efforts to curb excessive growth of household debt.Local banks, including Shinhan and Hana, said they have begun to halt extending fresh home loans, includi
Aug. 18, 2011
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Country’s first bandwidth auction takes place
The Korea Communications Commission on Wednesday held the country’s first wireless broadband spectrum auction, participated by all three mobile carriers, with the bidding scheduled to continue Thursday.Two leading mobile carriers, SK Telecom and KT Corp., competed to take home the 1.8 gigahertz radi
Aug. 17, 2011