Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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[Grace Kao, Meera Choi] Has money displaced romance on dates?
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Will China's self-sufficient dream in HBM come true?
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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S. Korea to extend anti-dumping duties on Chinese glass
South Korea's trade commission said Thursday that it has decided to extend anti-dumping duties on Chinese float glass products, citing unfair price cuts. The Korea Trade Commission said punitive duties of 12.04-36.01 percent will be maintained on Chinese imports for the next three years. The decision follows investigations carried out following formal complaints raised by KCC Corp. and Han
March 24, 2011
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South Korea, Peru sign free trade agreement
South Korea formally signed a free trade agreement with Peru on Monday which would broaden its access to the Latin American country’s vast natural resources and fast-growing consumer market. The pact was inked by the two countries’ trade ministers, Kim Jong-hoon and Eduardo Ferreyros, in Seoul two years after they launched negotiations in March 2009. A preliminary deal was made last November. It i
March 21, 2011
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Small firms urged to improve competitiveness
Small and medium enterprises must take the lead in promoting balanced growth between large companies and their subcontractors, the commerce minister said Monday.In a meeting with heads of smaller companies, Knowledge Economy Minister Choi Joong-kyung said that in order for Korea’s economy to make the next leap forward, SMEs that largely act as subcontractors to conglomerates must become more globa
March 21, 2011
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Korea needs stronger won to tame inflation: experts
Korea needs to engineer the local currency’s ascent against the U.S. dollar rather than raise interest rates to contain inflation more effectively, experts said Monday.The government, however, remains opposed to the idea, saying the currency issue should be approached in a broader context as it could have far-reaching ramifications over the overall economy.The argument comes as Korea’s inflation l
March 21, 2011
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Japan quake leads GM Korea to cut production
SEOUL (AFP) - The South Korean unit of General Motors said Monday it would reduce production this week by up to 10 percent because of a possible lack of parts from Japan following the devastating earthquake.GM Korea -- formerly GM Daewoo -- said it would stop four hours a day of overtime work from Monday at its plants in the western city of Bupyeong and in the southwestern port of Gunsan.The compa
March 21, 2011
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Samsung sending additonal relief aid
Samsung Group said Sunday it will make an additional donation of supplies to Japan amid a near rush by businesses here to help people in the neighboring country hit by the powerful earthquake and tsunami.The nation’s largest business group earlier gave 100 million yen ($1.23 million) and 2,000 sets of emergency relief supplies, worth about 30 million yen, to Japan’s Red Cross Society.The group wil
March 20, 2011
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Extended Japan crisis could inflict damage on Korean companies
Damages to South Korean businesses from the quake in Japan are still limited, but they may become more visible and serious if the problems facing Japanese firms become prolonged, market observers said Sunday.The most direct damage to South Korean companies came from the loss of containers containing products awaiting delivery in Japan.The Korea Maritime Institute estimated the country’s shipping c
March 20, 2011
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N.K. sends floral wreath for late Hyundai founder
North Korea has sent a wreath to Hyundai Group to commemorate the 10th anniversary of the death of Hyundai founder Chung Ju-yung, the conglomerate said Sunday, amid efforts by Pyongyang to improve ties with Seoul that quickly deteriorated following the North’s sinking of a South Korean warship and attack on a border island last year.The wreath from the North’s Korea Asia-Pacific Peace Committee wa
March 20, 2011
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KCCI offers relief aid to Japanese quake victims
Chairman of the Korea Chamber of Commerce and Industry, Sohn Kyung-shik, has sent letters to his Japanese counterparts expressing sympathy for Japan’s earthquake victims.The organization also plans to send the relief funds raised from 71 of its regional chambers to Japan this week, chamber officials said Sunday.In separate letters to the Japanese chamber and the chamber of commerce representing Se
March 20, 2011
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Jumbo size burger introduced at GS Supermarkets
A jumbo burger four times bigger than the McDonald’s bulgogi burger has hit the market.Named “The Greatest Burger,” it is has been available for sale since Friday at GS Supermarkets nationwide. The super-sized burger, which is 25 centimeters in diameter and weighs about 600 grams, is served in a cardboard box, not wrapped in a paper, as it is about the size of a regular-sized pizza. Although the p
March 20, 2011
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Korea’s imports from Japan dip
Korea’s imports from Japan have been plunging since the recent massive earthquake amid concerns that disruptions in supply of parts and materials from the neighboring country could hurt the economy here, customs data showed Thursday.Before the 9.0-magnitude quake struck Japan last Friday, Korea’s daily weekday imports from the country averaged $303.33 million for this month, according to the data
March 17, 2011
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Japan quake spells trouble for Korean economy
Foreign investment banks (IBs) see little short-term impact from last week’s earthquake in Japan on the Korean economy but they are concerned over its longer-term impact as the disaster could eventually hurt the nation’s exports by disrupting the parts supply from the neighboring country, a report showed Thursday.Recent reports on economic conditions at home and abroad by foreign banks including M
March 17, 2011
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Won drops to year’s low on Japan nuke woes
Seoul shares end flat, investor sentiment remains fragileThe Korean currency slumped to its weakest level this year as a worsening crisis at a nuclear power plant in Japan prompted investors to favor safer bets than emerging-market assets.The won closed local trade at 1,135.3 per dollar, around a 38 percent retracement support line drawn between December 2010 and February 2011.It briefly weakened
March 17, 2011
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S. Korean firms mull evacuation of Japan-based workers
Several South Korean firms are considering evacuating their Japan-based employees or moving their operations to southern Japan amid growing concern over a nuclear crisis there, company officials said Thursday. Japan is battling to minimize nuclear disaster following Friday's devastating 9.0-magnitude quake and tsunami that claimed thousands of lives and crippled a nuclear plant 240 kilometers no
March 17, 2011
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Korea to send 52 tons of boron to stabilize Japan reactors
Korea is to send some of its reserves of a material used for regulating nuclear chain reactions to Japan to limit damage to its quake-damaged nuclear reactors. The Korean government said Wednesday that it will send an emergency shipment of boron following Tokyo’s request for the metalloid, which is being mixed with seawater to limit damage at crippled nuclear facilities in Fukushima. Tokyo has ask
March 16, 2011
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Both threat, opportunity for Korean nuke sector...nity from Japan situation
Local builders focus on safety standards as Japan quake may dampen export marketsRenewed nuclear safety concerns arising from blasts and radiation leak in Japan will likely pose both a threat and an opportunity for the South Korean nuclear energy industry, experts said Wednesday.The local nuclear industry may carry on the upbeat trend in Asian markets should it be able to prove its safety and tech
March 16, 2011
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Obama soon to submit Korea FTA to Congress
WASHINGTON, March 15 (Yonhap) ― Against pressure from Congress, the Obama administration Tuesday vowed to submit a pending free trade deal with Korea soon and take time to address outstanding issues with similar deals with Panama and Colombia.“I think as the president has said, he, too, would like to get all three agreements passed once we’ve addressed the outstanding issues associated with them,”
March 16, 2011
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Korea, Peru to sign free trade deal next week
Korea and Peru will sign a free trade deal next week, the latest trade pact that could pave the way for Asia’s fourth-largest economy to tap deeper into the South American region, Seoul’s trade ministry said Wednesday.The trade ministers from both sides will sign the free trade agreement (FTA) in Seoul on Monday, the ministry said. Both countries struck the deal in August last year.Peru marks the
March 16, 2011
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SK Telecom begins iPhone sales in S. Korea
SK Telecom Co. began to ship pre-ordered iPhone 4 smartphones to its customers on Wednesday, creating a rare scene as South Korea's top mobile carrier lavishly promoted a foreign brand's handset. As SK Telecom belatedly joined the race to woo potential iPhone buyers and steal customers from its rival KT Corp., the iPhone is enjoying special treatment from the usually snooty mobile operator tha
March 16, 2011
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Japan quake feared to hurt Korean exports
The massive earthquake that hit Japan last week could slow down Korea’s exports as demand from the nation’s second-largest trade partner might contract significantly due to a protracted economic slowdown, experts said Tuesday.Korea’s exports to Japan have been improving since the start of this year. During the first two months, Korea’s exports to Japan jumped 47.7 percent from a year earlier to $5
March 15, 2011