Most Popular
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[Grace Kao] American racism against Stray Kids
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
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OpenAI gives ChatGPT new powers to see, hear
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[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
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Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
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S. Korea to inject $70m into AI-powered public education
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[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
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Korean industries gauge impact of Biden's steep tariffs on China
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SKT boasts emergency network tech
SK Telecom, South Korea’s largest mobile carrier, said Tuesday it has completed the development of core technology to be deployed for nationwide emergency networks based on Long Term Evolution.For starters, the mobile network firm said it has secured technology to design and efficiently operate the Public Safety-LTE, which will enable government agencies and rescue responders to communicate with each other during natural and man-made disasters.“SK Telecom, the leading mobile network operator, ha
TechnologyFeb. 10, 2015
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CrucialTec creates under-screen fingerprint sensor
CrucialTec, a leading biometric sensor developer in South Korea, said Tuesday it has patented technology to install fingerprint sensors under smartphone display panels, increasing options for smartphone-makers.The announcement came a few days after reports that Apple had filed a patent for technology to move its fingerprint sensors from the home button of its products to underneath the touch screen.The Korean tech firm said it had filed a patent in 2012 and registration was completed recently.Th
TechnologyFeb. 10, 2015
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Housekeepers of LG chairman sue three protesters
A group of housekeepers and chauffeurs working for LG Group chairman Koo Bon-moo and his family have sued one union leader and two activists protesting in front of the tycoon’s house in Hannam-dong, central Seoul. According to the Seoul Southern District Court, six people working at Koo’s residence have recently filed an injunction against the labor union leader of LG Uplus’ subcontractor and two Hope Union officials for interfering in their duties.“Koo’s residence is a workplace for the six ― h
IndustryFeb. 10, 2015
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OCI’s operating profit back in black in 2014
Despite the worsening business environment in the chemical industry, hit by falling oil prices, OCI, a leading South Korean chemical and solar energy company, made a turnaround in profitability last year, with operating profit of 44.6 billion won ($40 million). The consolidated sales of the polysilicon-maker rose 6.2 percent to 3.14 trillion won last year from a year ago, the company said. “Improved performance in the basic chemical business unit (whose main business is polysilicon production an
IndustryFeb. 10, 2015
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Finance minister calls for lasting G20 commitment to growth
Korean Finance Minister Choi Kyung-hwan urged the G20 countries to carry out the reform plans that were mutually agreed on last year in order to reap real growth in coming years. “The G20 countries collaborated on more than 1,000 reform plans in 2014, and it is crucial that these agreements are actually met to yield real growth,” Choi said in a meeting with his Turkish counterpart Ali Babacan in Istanbul.Choi arrived in Turkey to attend a series of bilateral meetings, and the G20 Finance Ministe
Feb. 10, 2015
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AREX extends group discount
The group discount scheme on the Incheon Airport Railroad Express ― a nonstop train from Seoul Station to Incheon International Airport ― will be extended to Dec. 31, company officials said Tuesday.The scheme reduces the individual ticket price from 8,000 won to 6,000 won if more than four people book seats together.“Foreign tourists frequently ride the express train because it offers comfortable individual seats, ample room to store their luggage and has a restroom,” an AREX official said.He ad
IndustryFeb. 10, 2015
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Chinese hallyu portal aims for daily traffic boost
Korea DMC, the operator of a Chinese-language Korean Wave portal, said Tuesday that it aimed to reach 1 million hits in daily traffic by the end of the year.The company launched Korea Top 10 (www.koreatop10.com), a platform offering information related to South Korea and shopping for beauty products and tourist, wedding and medical services.“We provide customized services to Chinese people who are seeking information and products they cannot find elsewhere,” Korea DMC CEO Sim Song-hak said at a
IndustryFeb. 10, 2015
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Daum Kakao taps mobile publishing in China
Daum Kakao Corp., South Korea's top mobile messenger and web portal operator, said Tuesday it will work with local game developers to tap into mobile publishing in China in a bid to expand its footing in the world's most populous country. The company plans to set up a task force in Seoul and at its Beijing-based office in the first half to help local game developers publish their mobile game apps on Chinese platforms, including 360, Tencent and Baidu, Daum Kakao said in an emailed release. Daum
CompaniesFeb. 10, 2015
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E-mart re-targets China via Alibaba shopping mall
E-mart, South Korea's biggest discount chain, said Tuesday it is launching sales at an Alibaba-powered online shopping mall, its latest effort to revive retail footing in the world's second-largest economy after previous expansion attempts flopped.Starting mid-March, E-mart will sell some 100 food and electronic products, such as soybean paste and rice cookers, at Tmall Global, an online shopping mall operated by Chinese e-commerce giant Alibaba, the retailer said in a press release.E-mart would
CompaniesFeb. 10, 2015
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Samsung, Microsoft end patent dispute
Samsung Electronics and Microsoft Corp. said Tuesday they have decided to end their yearslong patent fee dispute but declined to provide details on the conditions of the agreement. "Samsung and Microsoft are pleased to announce that they have ended their contract dispute in U.S. court, as well as the International Chamber of Commerce arbitration. Terms of the agreement are confidential," the two companies said in a joint statement via their official blogs."Due to the agreement between the two c
CompaniesFeb. 10, 2015
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U.S. stocks drop on fears of Greek default
Wall Street stocks Monday followed European equity markets lower, dropping on growing fears of a Greek default and exit from the eurozone.The Dow Jones Industrial Average fell 95.08 points (0.53 percent) to 17,729.21.The broad-based S&P 500 dropped 8.73 (0.42 percent) to 2,046.74, while the tech-rich Nasdaq Composite Index shed 18.39 (0.39 percent) to 4,726.01.Greek Prime Minister Alexis Tsipras vowed over the weekend to stand by his anti-austerity electoral promises, raising worries of a defaul
Feb. 10, 2015
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Samsung SDI denies Tesla battery deal
Samsung SDI on Monday denied a news report that the Korean battery maker was in talks with U.S. luxury electric carmaker Tesla Motors to expand their partnership in batteries. According to the report, Samsung SDI is expected to make up 8 percent of Tesla battery demand this year, worth 36 billion won ($33 million). The company expects to elevate the portion to 40 percent by 2016, it said. But Samsung SDI flatly denied the report via its official blog, saying nothing has been decided on the deal
TechnologyFeb. 10, 2015
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Hotel Shilla to do business in Xian
Hotel Shilla plans to build a hotel in Xian ― a cultural, industrial and educational center in northwest China ― in its latest move to expand its business in the country, the company said.It is planning to sign a consignment management agreement with a local company to run a hotel business, it said on Monday. The Samsung Group affiliate is currently operating a hotel under its brand in Suzhou, eastern China. Hotel Shilla CEO Lee Boo-jin. (Yonhap)“We do not know whether it’s going to be a busines
IndustryFeb. 9, 2015
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SK hynix pushes next generation mobile chips
SK hynix, a world-leading semiconductor firm, said Monday it had successfully commercialized its latest 8-gigabit mobile memory chip based on 20-nanometer class technology for the first time ever, posing a challenge to its local rival Samsung Electronics.The low power double data rate 4 (LPDDR4) mobile dynamic random access memory, which boasts an input-output data rate of more than 3,200 Mbps, is twice as fast as the LPDDR3. The latest mobile DRAM is also 30 percent more energy-efficient than i
TechnologyFeb. 9, 2015
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Samsung CEO stresses innovation at Dubai forum
Yoon Boo-keun, one of three CEOs at Samsung Electronics, on Monday gave a speech on the Korean tech giant’s innovation efforts at the Government Summit, one of the largest business gatherings in the Middle East. The annual forum, held in Dubai, was hosted by Sheikh Mohammed Bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and ruler of Dubai. Yoon, Samsung’s consumer electronics division chief, became the first Korean CEO to be invited to the annual event, a ga
TechnologyFeb. 9, 2015
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Is Green Cross eyeing hostile takeover of Ildong?
Green Cross, a leading South Korean pharmaceutical company, sparked rumors of a hostile takeover of rival Ildong Pharmaceutical when it vowed to interfere in the selection of the latter’s board members on Monday.As the second-largest shareholder of Ildong, the company said it has the right to choose two of the 10 board members in the next shareholders meeting. Three of the 10, including Ildong chairman Lee Jung-chi, end their terms next month.Early in January last year, the takeover rumor erupte
IndustryFeb. 9, 2015
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Bidding for fighter project fails
The bidding for Korea’s 8.5 trillion won ($8.3 billion) homegrown fighter jet development program fell through after Korean Air failed to submit its proposal on Monday, leaving state-run Korea Aerospace Industries as the sole bidder for the so-called KF-X project.But analysts said Korean Air apparently aimed to earn time to participate in the final competition with KAI.The Defense Acquisition Program Administration, the state-run arms procurement agency, said according to the government’s procur
IndustryFeb. 9, 2015
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Hana Financial picks deputy president as new bank chief
Hana Financial Group has appointed Hana Bank’s deputy president Kim Byoung-ho as the new chief of its flagship bank. Kim Byoung-hoThe group’s executive candidate selection committee, after shortlisting three candidates and interviewing two, recommended Kim for the vacant president post, officials said Monday. The appointment was confirmed at the board of directors and shareholders’ meeting.Kim has been serving as deputy president and acting president, since former chief Kim Jong-jun stepped down
Feb. 9, 2015
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Korea to plow W84b into farming fund
The Ministry of Agriculture, Food and Rural Affairs plans to invest 84 billion won ($76.6 million) in a “MAFRA Fund of Funds” this year to foster the nation’s food and farm industries, officials said Monday.The ministry said that it would use 50 billion won from state funds and collect the remainder from the private sector. It plans to invest the money in investors’ cooperatives or private equity funds. Ministry officials said the corpus would be invested in six funds, yet to be created within t
Feb. 9, 2015
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Rapid transformation of KB Financial
KB Financial Group, Korea’s leading financial institution with the largest customer base, is undergoing rapid transformation since its new management changes last year.In less than a month after Yoon Jong-kyoo was elected chairman and CEO of the group, decision-making has been quick, such as in buying LIG Insurance Co., restructuring its organization, moving its holding company into the KB Bank building in Yeouido ― the financial district in Seoul ― and supporting fintech.There are also moves to
Feb. 9, 2015