Most Popular
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Court refuses injunction on medical school expansion
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Why Korean crime stories typically feature nameless, faceless perpetrators
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Debate on 'no-seniors zones' heats up
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S. Korea, Cambodia forge strategic partnership
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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Is NewJeans headed for a long 'break'?
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[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
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South Korea's energy imports edge up in Q1: data
The volume of South Korea's energy imports inched up on-year in the first quarter of 2015, but its value dropped sharply due mainly to weak international crude oil prices, customs data showed Friday.According to the data by the Korea Customs Service (KCS), South Korea imported 78.24 million tons of energy products, including crude oil, coal and natural gas, during the January-March period, up 1.4 percent from a year earlier.The value of the imports, however, plunged 39.9 percent on-year to US$24
May 1, 2015
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Kolon ends legal fight with DuPont over trade secrets
Kolon Industries Inc., South Korea's top textile and chemical material maker, said Friday it has terminated a six-year legal battle with U.S. chemicals juggernaut DuPont Co. over an alleged trade secret theft.In February 2009, DuPont filed a lawsuit against Kolon, alleging its South Korean rival stole trade secrets involving aramid, a type of fiber used in making tires and bullet-proof vests, by hiring one of the U.S. company's retired engineers. Denying the charges, Kolon began an antitrust sui
IndustryMay 1, 2015
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S. Korea's consumer prices edge up 0.4 pct on-year in April
South Korea's consumer prices grew at less than 1 percent for the fifth month in a row in April, a government report showed Friday, fueling worries of deflation.The country's consumer price index inched up just 0.4 percent last month from a year earlier, well below the government's 2 percent growth target for 2015, the report by Statistics Korea showed. Last month's number is unchanged from the 0.4 percent growth tallied for March, which was the lowest increase since July 1999, when consumer pri
May 1, 2015
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Global LCD panel shipments hit record high in March
Global shipments of liquid crystal display (LCD) panels reached an all-time high in March, data showed Friday, apparently led by South Korean tech players' efforts to expand sales of high-end Ultra HD (UHD) displays.The combined shipments of LCD panels by global tech firms reached 23.9 million units in March, up 11 percent from a year earlier and a record monthly high, according to the data compiled by industry tracker IHS Inc. It also marked a 20 percent increase from February.By size, sales of
TechnologyMay 1, 2015
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Suprema launches new fingerprint reader
South Korean biometric security system developer Suprema unveiled a next-generation fingerprint reader for access control uses, such as entry to buildings, and a new open security platform Thursday. The biometric scanner, named BioStation 2, equipped with a 32-bit Coretex-A9 1.0 GHz CPU, boasts improved fingerprint recognition and data analysis capabilities ― the new fingerprint reader is three times faster in identification and four times more accurate than its predecessor.Around 1 million fing
TechnologyApril 30, 2015
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Chiefs of top 3 shipbuilders to gather in U.S. conference
The heads of the three major South Korean shipbuilders will attend the Offshore Technology Conference opening in Houston, Texas, from May 4-7, the companies said Thursday.Daewoo Shipbuilding & Marine Engineering Jung Sung-leep, Hyundai Heavy Industries chairman Choi Kil-seon and Samsung Heavy Industries president Park Dae-young are expected to hold meetings there for overseas market expansion and participate in sideline events.Most notable is Jung’s appearance, which will mark his first public e
IndustryApril 30, 2015
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U.S. welcomes improved Seoul-Beijing ties: Lippert
U.S. Ambassador Mark Lippert has dismissed concerns that South Korea’s improved ties with China could alter the U.S.-Korea alliance, welcoming Seoul and Beijing’s closer economic cooperation.“The U.S. welcomes a better relationship between Beijing and Seoul,” Lippert said at the American Chamber of Commerce in Korea’s general membership meeting in Seoul on Thursday.South Korea has recently expanded ties with China by signing a bilateral free trade agreement and joining the China-led Asia Infrast
IndustryApril 30, 2015
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Builders face grim outlook
Samsung Engineering and SK E&C have seen their financial soundness deteriorate in recent years due to their lackluster business performance in the overseas market, according to reports from the stock brokerage sector.The two conglomerate-based builders are suffering waning profitability and high debt-to-equity ratios, while some observers predict they could also gain from the coming bounce back in South Korea’s property market and construction industry.Samsung Engineering, in a regulatory filing
April 30, 2015
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[Photo News] White UHD TV
Samsung Electronics released white-bezel ultrahigh-definition TVs in Seoul Thursday. The company said the TVs with the white frame were the first in nine years to come out in the Korean market. (Samsung Electronics)
TechnologyApril 30, 2015
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KEPCO opens Jordan power plant
AMMAN ― In a deserted area 40 kilometers east from Amman, the capital city of Jordan, stands the world’s largest diesel engine power plant, the Amman Asia Power Plant. Thirty-eight diesel engines standing 50 meters tall can generate 573 megawatts in 30 minutes and are currently responsible of more than 14 percent of the country’s electricity demand. “The power plant is an important component of our government goal to meet the growing electricity demand. … This is a symbolic event showing the pro
IndustryApril 30, 2015
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Smilegate supports game start-ups
Leading South Korean game developer Smilegate commemorated the first anniversary of the firm’s start-up incubation initiative, called Orange Farm, in Seoul on Thursday.Smilegame runs three centers to nurture start-ups ― two in Seoul and one in Busan ― that house 23 ventures in total. The business incubators are the largest among those run by private firms in Korea.Smilegate CEO Kwon Hyuk-bin“Smilegate will spare no efforts to help fledgling ventures at the incubation centers to write success sto
TechnologyApril 30, 2015
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KCCI to host corporate photo contest
The Korea Chamber of Commerce and Industry began accepting applications for the second Korea Corporate Photography Contest on Thursday, the biggest photography contest in the country, under the theme of “Corporations, Life and People.”Anyone in and outside of Korea can submit a photograph from May 1 to Sept. 30. The only requirement is that the photographs must be related to corporations in some way. Participants can submit as many entries as they want via online registration. It costs 1,000 won
IndustryApril 30, 2015
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Imperial named No. 1 in customer satisfaction
Pernod Ricard Korea, the local branch of the world’s second-largest distiller, said that its flagship Korean brand Imperial Whiskey had won the top prize in a leading customer satisfaction index here.The premium Scotch whisky was named No. 1. in the 2015 Korea Customer Surprise Brand Index, administered by the Trade Ministry-affiliated Korea Brand Management Association, officials said Thursday.The K-CSBI aims at assessing the level of customer satisfaction for individual brands by converting cu
April 30, 2015
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[Herald Interview] Finance clearing institute seeks to reform corporate payment system
In such a conglomerate-dominated Korean economy, small and medium-sized subcontractors and ventures cannot thrive without a healthy business-to-business payment system. Without one, the Asian financial crisis and the global financial crisis doomed countless SMEs to bankruptcy.“Most unfair practices in business come from inappropriate payment systems,” said Rha Moon-soo, president and chief executive of the Korea Electronic Finance Clearing Institute, in an interview with The Korea Herald last we
April 30, 2015
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Amway Korea recruiting for global internship program
Amway Korea, the Korean unit of the leading U.S.-based direct-sales company Amway, is recruiting undergraduate and graduate university students for its fifth Amway Korea Global Internship Program. The hiring process includes an initial application screening and a subsequent evaluation that includes a group debate and an interview conducted in both English and Korean.Those selected will work as Amway Korea interns for eight weeks from June 22 to Aug. 14. Each intern will be assigned to a departme
IndustryApril 30, 2015
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S. Korea moves for early development of nanotechnology products
South Korea will work to develop and improve new products using nanotechnology, such as wearable devices, as part of efforts to take global leadership in a market that is expected to reach $3 trillion in 2020, the government said Thursday.Nanotechnology refers to the technology of dividing any material into nanometers to create more a stable or precise material that also often comes with new and better characteristics.One nanometer is equal to one-billionth of a meter.South Korea is already one
April 30, 2015
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Samsung predicts recovery in Q2
By Lee Ji-yoonSamsung Electronics on Wednesday predicted earnings will recover in the second quarter as its new flagship smartphone, the Galaxy S6, lures back customers and its chip division wins orders from rival vendors.In a regulatory filing, the Korean tech giant said its net profit plunged 39 percent in the first quarter from a year earlier due to sluggish device sales.Net income reached 4.63 trillion won ($4.32 billion) in the same period, compared with 7.6 trillion won a year earlier. Ope
TechnologyApril 29, 2015
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[Newsmaker] New NH chief takes office amid doubts
NH Financial Group welcomed Kim Yong-hwan as the new chairman on Wednesday, but it appeared to have done so with a rather heavy heart.The new chief not only has to prove himself a capable successor to Yim Jong-yong ― who became chairman of the Financial Services Commission ― but is also facing allegations that he had illicit ties with the disputed Keangnam Enterprises.Hit by the sudden exit of its much-reputed leader, NH Financial initially welcomed the nomination of Kim, who had served in key f
April 29, 2015
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Incheon Airport marks 10 years at the top
DEAD SEA, Jordan ― The global airport industry celebrated Incheon International Airport’s unprecedented achievement in airport services at the 2015 airport service quality award ceremony hosted by Airports Council International here on Tuesday.ACI, the biggest association of the world’s airports, hosted the annual event, following its announcement of the 2014 ASQ survey results and 2015 award recipients in February. The Korean airport was the best performer in the 2014 ASQ survey, the only globa
IndustryApril 29, 2015
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KB Kookmin Card rolls out Ollim series
KB Kookmin Card’s most recent Ollim card series is attracting customers with its abundant services and benefits.The KB Kookmin Good Day Ollim Card provides discounts on everyday items such as gas, telecommunications and public transport. It also provides a discount on major supermarkets as well as foreign card affiliates. The card increases in benefits when the amount of usage in the past month increases.The KB Kookmin Wise Ollim Card provides more point accumulation benefits than its predecesso
April 29, 2015