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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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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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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Will China's self-sufficient dream in HBM come true?
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KT to buy 20% of BC Card to expand mobile services
KT Corp., Korea’s largest phone and Internet company, agreed to buy a 20 percent stake in BC Card Co. from Woori Bank to expand into mobile-payment services.Woori will have the option of buying back a portion of the stake if KT begins its own credit-card business, Lee In Won, a spokesman for the Seongnam, Korea-based phone carrier, said Tuesday. The deal is subject to further internal approval, he
Feb. 8, 2011
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140,000 calorie burger goes viral on YouTube
A video clip, entitled “The Sloppy Roethlisberger -- Epic Meal Time,” has become an Internet hit on YouTube, drawing nearly 1.5 million viewers after it was posted on Feb. 1 ahead of this year’s Super Bowl, the British Metro reported. The video features the Epic Meal Time crew introducing the 24.5 kilogram jumbo burger that includes 9 kilograms of bacon, 6 kilograms of ground beef and 5 kilograms
Feb. 8, 2011
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Public service rates up despite anti-inflation efforts
Prices of public services in Korea grew at the fastest pace in more than four years in January, adding to burdens in the daily lives of low- and mid-income people, data showed Monday.According to the data offered by the finance ministry and the statistics agency, the average prices of the nation’s 32 major public services, including heating gas and tap water, rose 0.9 percent last month from Decem
Feb. 7, 2011
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Regular workers hit record high in 2010
The number of regular workers in Korea reached an all-time high last year as businesses increased their number of longer-term workers amid rebounding economic conditions, data showed Monday.The number of workers who remained employed for a year or longer totaled 10.09 million last year, the highest since related statistics started to be compiled in 1989, according to the data provided by the finan
Feb. 7, 2011
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Russia follows China in using reserve ratios to curb inflation
Russia, the only one of the so-called BRIC countries without capital controls, is following China and Turkey in relying on reserve requirements to drain cash from the economy and avoid luring more speculative investment.“We stand ready to continue increasing mandatory requirements, if needed,” Bank Rossii Chairman Sergey Ignatiev said in Frankfurt on Feb. 4. Policy makers will “act decisively to m
Feb. 7, 2011
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Chinese make up lion’s share of foreign wives
Chinese women took up the largest portion of foreign wives married to Korean men in 2009, government data said Sunday.According to Statistics Korea, a total of 11,364 Chinese women married Korean men in 2009, while 7,249 Vietnamese and 1,643 Filipina women walked down the aisle with Korean men in the same year.They were followed by Japanese, Cambodian, Thai, American and Mongolian wives, numbering
Feb. 6, 2011
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Egypt riots add pressure on OPEC with $100 oil
OPEC is under pressure from consumers to boost supply as most of the world’s benchmark crudes surpass $100 a barrel amid political unrest in North Africa and the Middle East.Oil prices are high enough to “derail” the global economic recovery, Fatih Birol of the International Energy Agency said this week. Saudi Arabian Oil Minister Ali al-Naimi said last week prices nearer $75 would be “appropriate
Feb. 4, 2011
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S. Korea ranks No. 2 in OECD for food inflation
South Korea's food prices climbed the second most on-year among the organization for Economic Cooperation and Development (OECD) members in December, data showed Thursday.Food prices in South Korea jumped 10.6 percent in December from a year earlier, higher than the OECD average of 2.6 percent, according to the data by the OECD.Among the 33 tallied countries, Estonia topped the list at 12.2 percen
Feb. 3, 2011
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S. Korea's trade volume tripled in 10 years: report
South Korea's trade volume expanded three-fold in the last 10 years, helping the country become the seventh-largest exporter in the world, a government report showed Wednesday.The findings by the Korea Customs Service said the country's export and import volume that stood at just $291.5 billion in 2001 moved up steadily to $545.7 billion in 2005 and hit a record $891.6 billion last year.For 2011,
Feb. 2, 2011
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Netherlands supplies FMD vaccines to Korea
The Netherlands are providing 1 million doses of foot-and-mouth vaccine to help Korea fight its worst outbreak, its embassy said Friday.At the request of the Korean government, the European country has sent 500,000 vaccines. The remainder is due to arrive on Feb. 3. “The Netherlands expects it will contribute positively to the welfare of the animals and to disease control,” it said in an e-mailed
Feb. 1, 2011
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Unrest in Egypt feared to hit S. Korean exports
A prolonged anti-government protest in Egypt could deal a blow to South Korean exports to the North African state and hamper the recovery of Asia's fourth-largest economy by pushing up commodity costs, watchers said Tuesday. Thousands of protesters took to the streets of major cities in Egypt last week, demanding their president, Hosni Mubarak, to end his iron-fisted rule of 30-odd years. M
Feb. 1, 2011
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Regulator puts 10 more firms on watch list
South Korea's anti-trust regulator said Tuesday that it has placed 10 additional companies on its watch list that limits mutual business investments and loan guarantees. The Fair Trade Commission (FTC) said a total of 1,360 affiliates from 51 conglomerates, including Samsung, LG and Hyundai Heavy Industries were on its list as of Tuesday. The FTC said 33 firms were included as affiliates of
Feb. 1, 2011
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S. Korea's trade surplus narrows sharply in Jan.
South Korea's trade surplus narrowed sharply in January from the previous month as soaring crude and commodity costs overshadowed record exports, a government report showed Tuesday. The country's surplus reached $2.96 billion last month, compared with $4.08 billion in December, with exports surging 46 percent to $44.89 billion and imports gaining 32.9 percent to$41.93 billion, according to th
Feb. 1, 2011
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Korea looks to investment from emerging countries
The government is looking to China and other cash-rich emerging countries to invest in Korea’s fast-growing energy, technology and service sectors.The Ministry of Knowledge Economy said Monday that Korea aims to draw more than $15 billion in foreign direct investment this year. It marks a 15 percent increase from a record-high $13 billion that arrived last year.To achieve the goal, the government
Jan. 31, 2011
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Industrial output grows 9.8% in Dec.
Data shows recovery on track, adds pressure for rate increaseKorea’s industrial output grew for the 18th straight month in December, suggesting the economic recovery remains on track and adding to the case for the central bank to raise borrowing costs again.According to the report by Statistics Korea, production in the mining and manufacturing industries expanded 9.8 percent last month from the sa
Jan. 31, 2011
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Obama likely to submit Korea FTA to Congress in March: report
The Obama administration will likely submit the pending free trade deal with South Korea to Congress in late March after undergoing a series of congressional hearings next month, reports said Sunday. U.S. Trade Representative Ron Kirk is expected to appear at hearings at the House Ways and Means Committee and the Senate Finance Committee in mid-February to "pave the way for a mock markup of th
Jan. 31, 2011
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Blame games rising over oil price increases
Government and industry in dispute over whether to cut margins or fuel taxesThe government and oil refiners are at loggerheads over how to stabilize fuel prices as the nation is fighting an uphill battle to curb inflation driven by international commodities prices.Oil companies have been the key target of the government’s campaign against inflation since early January. Officials have been calling
Jan. 30, 2011
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SM5 sedan taps European market
Renault Samsung Motors Co., the South Korean unit of French automaker Renault SA, said Friday it has introduced its mid-size passenger vehicle, the SM5, to the European market.The vehicle, known as the Latitude in overseas markets, is currently sold in some 30 countries throughout the world.“Through these SM5 exports, Renault Samsung Motors will fulfill its role as the Asian hub of the Renault-Nis
Jan. 28, 2011
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Business sentiment turns negative for Feb.
Korea’s business sentiment for February turned negative for the first time in 17 months amid rising prices of imported raw materials and signs of rate hikes, a poll showed Thursday.The Business Survey Index (BSI) for February came in at 98.0, compared with 101.4 in January, according to the Federation of Korean Industries, the largest industry lobby in Korea.The BSI reading has stayed above 100 si
Jan. 27, 2011
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Creditors to pick Korea Express managers
The state-run Korea Development Bank, main creditor of Korea Express, said Thursday that it will pick two arrangers next month to find a new owner for the country’s top logistics company.Creditors are seeking to sell over 35 percent of their total 47.9 percent stake in Korea Express, held by Daewoo Engineering & Construction Co. and Asiana Airlines Inc., the airline unit of liquidity-squeezed Kumh
Jan. 27, 2011