Most Popular
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[Weekender] Geeks have never been so chic in Korea
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[KH Explains] Why Korea's so tough on short selling
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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‘Kim desperately wanted to denuclearize,’ Moon writes in memoirs
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Actors involved in past controversies return first via streaming service originals
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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Korea set to finalize medical school expansion plans
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Seoul City to open 'hotel' on river bridge
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Yoon, first lady celebrate return of Buddhist relics after century
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Intel eyes educational tablet PC market
Chipmaker Intel Korea will collaborate with Korean tablet PC maker Mpgio and educational software developer ST&Company to tap into the tablet PC market for education in South Korea, Intel Korea said Monday.Intel Korea expressed confidence in increasing its presence in the educational tablet PC market in the domestic market. “Despite the low penetration rate of tablet PCs with 7-inch or larger displays due to phablets in Korea, Intel saw demand for educational tablet PCs continually increase,” sa
TechnologyApril 27, 2015
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LG G4 boasts high technology, leather back
“If Steve Jobs were alive today, even he would have liked the G4.”An industry official close to the South Korean tech giant LG Electronics made the remark ahead of the official unveiling event of the firm’s flagship smartphone, the G4, showing confidence in the new marquee device.After the debuts of Samsung Electronics’ Galaxy S6 and S6 Edge and Apple’s smart watch this month, many eyes are now on the LG G4, which will be unveiled this Wednesday in six global markets including South Korea, the U
TechnologyApril 27, 2015
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Nongshim launches ‘Jjawang’ noodles
Nongshim announced last week that it has released a premium jjajangmyeon product, “Jjawang” ― a combination of jjajangmyeon and wang, meaning “king” in Korean.Jjawang boasts 3mm-thick noodles, added with kelp powder in order to improve its texture and bring out savoriness.It also contains a newly enhanced vegetable flake, which includes onions, cabbages, potatoes and green peas, as well as oil made from onion, garlic and green onions to replicate a more authentic taste. Nongshim Jjawang. (Nongsh
IndustryApril 27, 2015
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Korean chicken hits U.S. sports stadiums
Genesis BBQ Group, South Korea’s leading fried chicken franchise, will launch kiosks at 92 sports stadiums in the United States, the chairman said Monday. The Korean chain signed a memorandum of understanding with Levy Restaurants, which provides vending and food services to major entertainment and sports venues, to set up its kiosks inside the National Football League, Major League Baseball and National Basketball Association stadiums. “BBQ will make a foray into the total restaurant business w
IndustryApril 27, 2015
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[Herald Interview] ‘Data-driven agriculture is on our doorstep’
Agriculture and information technology may seem far apart, but in fact the latest smart technology could help increase productivity in the primary sector, said the vice president of the world’s leading weather data agency. For centuries, farmers have depended on their empirical instinct in farming, but the so-called big data can help them make more efficient decisions by suggesting numbers and direction, said Anthony Osborne, vice president of marketing at the Climate Corporation. “Data-driven a
IndustryApril 27, 2015
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Analysts warn of KOSDAQ bubble
Korea’s secondary stock market, the technology-laden KOSDAQ, has recently been on a volatile ride of record highs and sharp falls.Though some investors maintained hope for another bullish rally, market observers warned late movers against taking rash actions, as bubbles may burst in the market.Backed by the influx of liquidity and the government’s support for biotechnology and information technology sectors, the KOSDAQ had recently been on a bullish run, surpassing 700 points for the first time
April 27, 2015
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Dollar-won hits 6-month low
The Korean currency has continued to gain against the dollar as more traders bet on the U.S. Federal Open Market Committee delaying the timing of interest rate increases.About a month after the possibility emerged, the dollar slid 6.4 won, or 0.57 percent, on Monday from the previous trading session to close at 1,073.0 won. It is the lowest won-dollar exchange rate so far this year.The greenback, which traded between 1,120 won and 1,130 won in March, fell to its lowest level in nearly six months
April 27, 2015
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POSCO, Indian state at odds over mill building site payment
POSCO’s troubled $12 billion steel mill project in India appears to have hit a snag as the steelmaker and an Indian local government are in dispute over payment for its construction site.According to Indian news reports, a high-ranking government official said POSCO had shown unclear intentions about the project that has remained idle for 10 years.“POSCO must clarify its intention whether it wants to set up the plant or not,” Indian Steel and Mines Minister Prafull Kumar Mallick was quoted as sa
IndustryApril 27, 2015
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Finance minister stresses steps to bolster economic recovery
The government should take active measures to prop up the recovery of the economy that has been slow to gain momentum amid slumping exports and still weak domestic demand, the top economic policymaker said Monday. Speaking to a meeting of senior ministry officials, Finance Minister Choi Kyung-hwan said in light of a recovery in the property market and improved economic indicators, the economy continues to be picking up, though its pace is not so strong. "The most important policy task is to kee
April 27, 2015
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Brokerage firms raided on inside trading
Prosecutors said Monday they have raided seven brokerages for alleged illegal bond trading involving an asset manager at a foreign brokerage firm. The companies are suspected of illegally trading bonds while conspiring with a local unit of Australia-based asset manager Macquarie Funds Group. They are I'M Investment & Securities Co., Kiwoom Securities Co., KTB Investment & Securities Co., HMC Investment Securities Co., Hyundai Securities Co., Shinyoung Securities Co. and Dongbu Securities Co.
IndustryApril 27, 2015
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Homeplus fined for giving insurers customer info
The antitrust watchdog said Monday it has fined retail giant Homeplus and its affiliate Homeplus Tesco for providing local insurers with the personal information of applicants for giveaway events. The 435 million won ($404,500) fine was slapped on the retailers after they collected information on customers between August 2011 and June 2014, the Fair Trade Commission said. Homeplus, which has more than 21,000 employees, was ordered to pay 325 million won, while 110 million won in fines was levi
CompaniesApril 27, 2015
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Samsung launches SUHD TV in Russia
South Korea's leading tech giant, Samsung Electronics Co., said Monday it has begun selling its latest SUHD TV lineup in Russia in an effort to expand into the Commonwealth of Independent States market. Samsung's SUHD TVs were first showcased at the Consumer Electronics Show earlier this year, boasting the quantum dot technology that uses a semiconductor nanostructure to improve brightness and power efficiency. A quantum dot TV is made with a film of semiconductor nanocrystals, known as quantu
TechnologyApril 27, 2015
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S. Korea seeks to ink bilateral FTA with China next month
South Korea is working to officially sign its bilateral free trade agreement with China in May, a ranking government official said Monday. The move comes as the government seeks to implement the free trade pact before the end of the year. "After the FTA is officially signed, the government plans to submit a ratification bill to the National Assembly before the end of the first half," Deputy Trade Minister Woo Tae-hee told a regular press briefing. Implementing the FTA before the year's end is
April 27, 2015
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Chaebol's system integrators hike internal deals in 2014
System integrators affiliated with South Korea's family-run business groups increased internal transactions in 2014 despite the government's efforts to curb excessive groupwide trades, data showed Monday. Internal transactions of the top 20 system integration subsidiaries of the family-run conglomerates, locally called chaebol, came to 8.36 trillion won ($7.74 billion) in 2014, up 5.9 percent from a year ago, according to the data compiled by corporate tracker Chaebul.com. A system integrato
IndustryApril 27, 2015
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Department stores boost marketing to attract Chinese tourists
South Korean department stores are beefing up marketing efforts to attract Chinese tourists ahead of the International Workers' Day holiday, industry sources said Sunday. Retail industry insiders said stores are moving to accept the Alipay payment system and scrambling to lure big-spender VIP customers. Alipay is China's largest payment system and makes use of specialized apps to conduct transactions. It has some 800 million users with annual payment hitting some 450 trillion won (US$417 bi
BusinessApril 26, 2015
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[Newsmaker] Will Apple Watch spell doom for Samsung?
The smart watch hype is at its peak as two of the world’s largest tech giants and archrivals ― Samsung Electronics and Apple ― step up their efforts to gain the upper-hand in a new round in a battle for the wrist.The first wearable device by Cupertino-based Apple landed in stores in nine global markets including the U.S. Australia, and Hong Kong on Friday.Even though South Korea was not included in the first group of the launch nations, the news of the Apple smart watch made headlines on many lo
TechnologyApril 26, 2015
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[Graphic News] Mountain of electronic waste reaches new peak
A record amount of electrical and electronic waste hit garbage bins in 2014, with the biggest per-capita tallies in countries that pride themselves on environmental consciousness, a report said Sunday.Topping the list for per-capita waste last year was Norway, with 28.4 kilograms per resident.It was followed by Switzerland (26.3 kg per capita), Iceland (26.1 kg), Denmark (24.0 kg), the U.K. (23.5 kg), the Netherlands (23.4 kg), Sweden (22.3 kg), France (22.2 kg) and the U.S. and Austria (22.1 kg
TechnologyApril 26, 2015
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SK Planet enters Malaysian e-commerce market
SK Planet said Sunday it launched the ecommerce Website 11street in Malaysia on April 24. The South Korean online commerce operator has been preparing to launch in the Malaysian market for the past six months, after establishing joint firm Celcom Planet with Malaysia’s No. 1 wireless carrier Celcom Axiata.“The company, which has superior capabilities in online and mobile shopping businesses, will provide differentiated services for local customers,” said Kim Ho-seok, chief executive of Celcom Pl
TechnologyApril 26, 2015
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Builders to face heavy penalties for pipeline cartel
The nation’s major construction companies are expected to be slapped with significant antitrust fines for operating a cartel during a plumbing project initiated by the Korea Gas Corp.According to the Fair Trade Commission and the Ministry of Land, Infrastructure and Transport, some of the 23 participants have been suspected of fixing prices during construction of gas pipelines that were requested by the state-controlled KOGAS.The allegation involves the builders’ irregular practices when they re
IndustryApril 26, 2015
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Microloans to be issued for students, young debtors
A credit recovery organization will operate a special loan program to alleviate the high interest rate burden for young people in their 20s and to support their living expenses through low interest loans.Financial authorities will also reinforce their administrative guidance, warning young loan borrowers against excessive loans and notifying them of the loan transfer system.The Credit Counseling and Recovery Service will launch the Sunshine Loan program for college students and young people unde
April 26, 2015