Most Popular
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Seoul vows strong action against NK trash balloons
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Controversy ignites over regulation of online entertainment shows
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N. Korea sends some 720 more trash-carrying balloons to S. Korea, continues GPS jamming for 5 days
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Line has more new users than KakaoTalk for the 3rd straight week
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South Korea, Japan defense chiefs agree to put past behind them at Singapore meeting
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China lands on moon's far side in historic sample retrieval mission
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NewJeans makes Billboard's 21 Under 21 list for 2024
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Korea, US, Japan to kick off trilateral exercises this year
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Yoon OKs exploratory drilling for 'massive' oil, gas reserve in East Sea
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Jirisan bear sighting raises concerns: experts reassure public on low attack risk
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Incheon stadium designed to turn into park after Asian Games
The Incheon main stadium being built for the 2014 Asian Games will be transformed into a public park after the sports festival, demonstrating a sustainable design in stadiums in Asia, the architecture firm that designed it has said.“I see these sad, empty steel and concrete giant structures. They’re not eyesores because they are like sculptures, but there’s an emotional sadness attached to an empty stadium because you’re always on the outside, never on the inside where the energy is,” said Andre
Jan. 16, 2012
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Lessons for entrepreneurs to flourish
Except for some conglomerates, most companies are bracing for the prolonged global economic slump with plans to downsize or delay investment and recruitment, or to promote managerial efficiency. But a corporate management expert says opportunities for entrepreneurs do not disappear even during an economic crisis.“It’s not that people don’t need TVs anymore, it’s that they don’t need expensive TVs, for example,” said professor Pablo de Holan, IE Business School chair of the Entrepreneurship Manag
Jan. 16, 2012
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2012 big year for Korea-U.S. business
AMCHAM chief says delegations from 22 U.S. states will visit Korea for tradeWith the Korea-U.S. free trade agreement to take effect soon, the American Chamber of Commerce in Korea is gearing up for a busy year promoting the trade pact.High on the list are visits by delegations from 22 U.S. states looking to find partnerships and gain a better understanding of the trade deal.“The federal government gave grants to increase exports. Twenty-two states are coming to Korea, that shows how important th
Jan. 16, 2012
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Arcamone of GM Korea to head Canadian aircraft manufacturer
Mike Arcamone, who recently resigned as chief of GM Korea, is moving to Canada as the new president of Bombardier Commercial Aircraft, the Toronto-based airliner said Monday.The news comes after GM Korea confirmed Arcamone’s abrupt resignation Friday. Arcamone has been with General Motors since 1980 and was recognized for his leadership in launching the Chevrolet brand in Korea last year. The carmaker temporarily replaced Arcamone with John Buttermore, GM International Operations vice president.
IndustryJan. 16, 2012
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India reports new TB strain resistant to all drugs
Indian doctors have reported the country's first cases of ``totally drug-resistant tuberculosis,'' a long-feared and virtually untreatable form of the killer lung disease. (MCT)It's not the first time highly resistant cases like this have been seen. Since 2003, patients have been documented in Italy
TechnologyJan. 16, 2012
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Cable operators stop airing KBS2 TV
Cable TV operators stopped airing programs by KBS 2TV nationwide at 3 p.m. on Monday as they failed to reach an agreement on retransmission fees with the nation’s three terrestrial broadcasters MBC, KBS and SBS. (Yonhap News)An emergency council of some 94 cable stations originally threatened to hal
TechnologyJan. 16, 2012
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Australia experts call for energy drink warnings
SYDNEY, Jan 16, 2012 (AFP) - Researchers in Australia on Monday called for health warnings on caffeine-loaded energy drinks following a spike in the number of people reporting medical problems after drinking them.Health professionals from the University of Sydney's Medical School and the New South W
TechnologyJan. 16, 2012
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Why faces of primates differ dramatically from one another?
A new study gave evolutionary clues to the question of why the faces of primates so dramatically different from one another. UCLA biologists working as "evolutionary detectives" studied the faces of 129 adult male primates from Central and South America. Credit: Stephen Nash"If you look at New World
TechnologyJan. 16, 2012
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Scientists identify receptor for tasting fat
(MCT)A new study for the first time identified a human receptor tasting fat, suggesting that some people may be more sensitive to the presence of fat in foods.The study conducted by researchers at Washington University School of Medicine in St. Louis was published online in the Journal of Lipid Rese
TechnologyJan. 16, 2012
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Russian space probe crashes into Pacific
MOSCOW (AP) _ A Russian space probe designed to boost the nation's pride on a bold mission to a moon of Mars came down in flames Sunday, showering fragments into the south Pacific west of Chile's coast, officials said.Pieces from the Phobos-Ground, which had become stuck in Earth's orbit, landed in
TechnologyJan. 16, 2012
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Hyundai Motor ranks 2nd in Russian market
South Korea’s top automaker Hyundai Motor Co. was the No. 2 seller of vehicles in the Russian imported car market last year, with its affiliate Kia Motors Corp. ranking fourth, industry data showed Sunday.Hyundai Motor sold a total of 163,447 passenger cars and light commercial vehicles in the Russian market last year, trailing only General Motors Co., according to the data.In the overall Russian car market, including foreign and domestic brands, Hyundai Motor placed third, after Russian carmake
IndustryJan. 15, 2012
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Local firms target IR in Hong Kong
A delegation led by a state-run trade agency and 10 Korean businesses will be luring investors in Hong Kong as some 2,500 bankers, industry leaders and government officials from 32 countries gather for a conference. The annual Asian Financial Forum, which kicks off Monday, is aimed at discussing opportunities and challenges faced by the rapidly growing region and hosting more than 400 meetings between 120 promising firms and their potential investors. The 10 Korean companies are engaged in secto
IndustryJan. 15, 2012
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Cable operators renew threat to halt broadcasts
Concerns were growing among TV viewers on Sunday after cable TV operators threatened to stop airing the programs of terrestrial broadcasters from Monday afternoon in protest of stalled talks on retransmission fees. An emergency council of cable stations said Friday that most of the nation’s 94 cable operators have agreed to halt the broadcasts of terrestrial channels MBC, KBS 2TV and SBS both in high-definition and lower-quality standard definition. “We will hold another meeting on Monday mornin
IndustryJan. 15, 2012
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Looming Iranian oil embargo spooks refiners
U.S. delegation coming to Seoul to discuss sanctions against TehranKorean oil refiners are bracing themselves for a possible ban or reduction of oil imports from Iran as the U.S. urges countries to join sanctions on the Middle Eastern country.A partial halt in oil supply from Iran, which accounts for 9 percent of the world’s crude oil production, would prompt countries to compete for alternative sources of crude oil, resulting in higher prices. Higher oil prices will dampen the profitability of
IndustryJan. 15, 2012
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Korea ranks 9th in construction competitiveness
Korea’s global competitiveness in the construction sector took 9th place in a ranking launched by the government, underscoring its need to enhance transparency and design skills. The Land Ministry said Sunday it has developed an index with the Korea Institute of Construction Technology to assess and compare the fundamentals of the industry as well as the capabilities of local builders between 22 leading economies.The index takes account of four dimensions of each market ― size, growth rate, stab
IndustryJan. 15, 2012
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Gloomy outlook for Korean industries
Eurozone ratings downgrades add to exporters’ worriesExporters and investors are bracing for a fresh wave of turbulence reignited by Standard & Poor’s downgrade of half of the eurozone nations on Friday.The automotive, shipbuilding and electronics industries expressed renewed concern for a recession in Europe and elsewhere from the mass credit rating cuts. Government officials downplayed the effect at home, but analysts agree that stocks and the won will slide in the coming weeks. “Demand is rel
Jan. 15, 2012
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Foreigners shift to net sellers in Korea: data
Overseas investors became net sellers of South Korean equities last year as they opted to buy safer assets amid global economic uncertainties, the financial watchdog said Sunday.Foreign investors offloaded a net 9.6 trillion won ($8.4 billion) worth of stocks in 2011, compared with a net purchase of 22.9 trillion won in the previous year, according to the Financial Supervisory Service.Overseas investors’ holdings of local stocks stood at 351.5 trillion won, or 30.4 percent of domestic stock owne
Jan. 15, 2012
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Insurance M&As to be vitalized
Several insurance firms, such as ING Life and Tongyang Life, will likely be auctioned off this year.Netherlands-based ING recently clarified its business policy to sell its insurance operations in the Asia-Pacific region, citing global economic uncertainties.Market observers state the possibility that the Korean life insurance unit may also be included in the group’s sale target.As ING Life holds the position of fifth or sixth in the local market, heated competition is expected if it is put up f
Jan. 15, 2012
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Half of financial firms expect weak results in 2012
Nearly half of all South Korean financial firms are expecting weaker performances in 2012 primarily due to the global economic slowdown and rising household debt, a poll showed Sunday.The survey on 250 financial firms by the Korea Chamber of Commerce and Industry showed 48.8 percent of the respondents saying they are bracing for lower results compared to 2011, with 26.8 percent forecasting conditions would remain unchanged from the year before. Regarding companies that held pessimistic views, 2.
Jan. 15, 2012
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Korea’s exports grow nearly 20% in 2011
South Korea’s exports grew nearly 20 percent in 2011 from a year earlier, primarily driven by robust sales of ships, vehicles and oil-related products, customs data showed Sunday.Exports came to a record high of $556.5 billion last year, up 19.3 percent from $466.4 billion a year earlier, according to the data by the Korea Customs Service. It made South Korea the world’s seventh-largest exporter for a second year.Imports also grew 23.3 percent on-year to $524.4 billion, bringing the nation’s ann
Jan. 15, 2012