Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Robert J. Fouser] Social attitudes toward language proficiency
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[Graphic News] How much do Korean adults read?
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[SUPER RICH] Superrich linked to ‘dreams’
People tend to hold mixed feelings toward the superrich. While there is animosity or jealousy toward those who have so much, there is also a sense of desire to achieve what they have. The superrich provide inspiration that anyone can be economically successful if they work toward their dreams.The Korea Herald Special Investigation Team and social media analyst Jelly Fish studied “big data” related to wealthy people in Korea and abroad to pinpoint the latest obsession ― dreams and the superrich ―
IndustryJan. 12, 2015
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Telecom carriers clash over LTE-A ‘world first’ claim
Tensions are growing among local network operators as they clash over the coveted title ― the world’s first provider of the newest tri-band LTE-A service. SK Telecom, the nation’s largest telecom carrier, announced on Dec. 28 that it was starting a pilot program allowing 100 customers to use the tri-band LTE-A service for the first time globally. “The tri-band LTE-A will pave the way for the next fifth-generation wireless service in Korea,” said Lee Jong-bong, network chief of SKT. Its archrival
TechnologyJan. 12, 2015
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KB Financial to reorganize HQ staff
KB Financial Group will transfer about 10 percent of its human resources to its unit branches as part of its restructuring plan.The banking group is expected to move 10-20 of its 120 employees to lower offices as early as this week, according to group officials Monday. Even those who remain at the central headquarters will be partly allocated to newly established departments such as marketing strategy and digital financing, instead of filling the vacant seats with new employees, the officials ad
Jan. 12, 2015
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Incheon City seeks Alibaba’s investment
Incheon City said Monday that it is in talks with Alibaba Group to attract investment from the Chinese e-marketplace giant. “The city has sought investment from the Chinese retail giant, promoting the city’s geopolitical advantage, since the latter half of last year, but more time is needed for both parties to develop the details of the investment plan,’’ Incheon City spokesman Woo Seung-bong said. The remarks came after a local newspaper reported that the port city, located 40 kilometers west o
IndustryJan. 12, 2015
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Hyosung ties up with French firm to enter electric power market
Hyosung Group has reached a business start-up agreement with France’s energy giant Energy Pool to make inroads into the South Korean demand response market, the Korean conglomerate said Monday. Demand response is a network of homes or businesses, in which end-use customers reduce their electricity usage over a given time period.“Hyosung aims to be a leading demand response operator by combining our core technologies such as the Internet of Things and cloud platforms to precisely predict customer
IndustryJan. 12, 2015
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Hyundai Development to join Seoul duty-free bid
Chung Mong-kyuSouth Korean property developer Hyundai Development Co.-Engineering & Construction plans to bolster its retail industry footing by joining an upcoming tender for duty-free shops in Seoul, its chairman said Monday.“We plan to establish a tourism and shopping district in Yongsan by taking part in the bid for Seoul duty-free stores this year. The Yongsan I-Park Mall is deemed as one of the best locations for a duty-free shop,” said Chung Mong-kyu, chairman of Hyundai Development. Chun
IndustryJan. 12, 2015
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Drugmaker Green Cross’ exports top $200m last year
Green Cross Corp., a South Korean pharmaceutical company, said Monday its exports topped $200 million last year, becoming the first South Korean drugmaker to reach the mark. The pharmaceutical firm said its outbound shipments were led by a surge in demand for vaccine products, which totaled $60 million last year, up 60 percent from a year earlier.In 2010, the drug firm started delivering a seasonal flu vaccine to the Pan American Health Organization in the wake of an influenza outbreak, and its
IndustryJan. 12, 2015
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Shares down 0.19% on renewed eurozone woes
South Korean stocks ended 0.19 percent lower Monday as investors’ expectations for an economic recovery in the eurozone lost momentum, analysts said. The South Korean won gained against the U.S. dollar. The benchmark Korea Composite Stock Price Index fell 3.75 points to 1,920.95. Trading volume was moderate at 301.44 million shares worth 3.48 trillion won ($3.22 billion), with gainers beating decliners 434 to 371. Analysts said investors’ prospects for a turnaround in the European economy died d
Jan. 12, 2015
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Trade deficit with EU tops $10 billion in 2014
South Korea’s trade deficit with the European Union topped the $100 billion mark last year, largely due to a slump in the shipbuilding sector and European carmakers’ expanded presence here following the implementation of the bilateral free trade agreement in 2011, industry data showed Monday. According to the data, South Korea’s exports to the world’s single largest economic bloc gained 5.5 percent through Dec. 20 last year to $50.04 billion, while imports from the eurozone countries surged 9.9
IndustryJan. 12, 2015
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Kia Motors aims to sell 20,000 Sorento SUVs in China
Kia Motors Corp., South Korea's second-largest carmaker, said Monday it aims to sell 20,000 Sorento sport-utility vehicles in China this year as it seeks to win a bigger slice of the fast-growing SUV market here.The revamped Sorento, which is offered with either a 2.4-liter gasoline or 2.2-liter diesel engine, is produced at Kia's plant in South Korea and imported to China, the carmaker said in a statement.Kia, an affiliate of Hyundai Motor Co., began selling the revamped Sorento earlier in the
MobilityJan. 12, 2015
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2 dead, 4 injured in gas leak at LG plant
LG Display reported a leakage of nitrogen gas at its manufacturing plant in Paju, Gyeonggi Province, around 12:50 p.m. on Monday, which claimed two lives at the assembly lines.The victims are two employees in their 30s, surnamed Moon and Lee, according to investigative authorities.In addition, the factory near the western inter-Korean border reported that four other employees had been injured in the accident, all of whom were immediately taken to a hospital.The scene of a nitrogen leak at LG Dis
IndustryJan. 12, 2015
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Jeju Air renews IATA safety certification
Jeju Air Co., South Korea's largest low-cost carrier, said Monday it has obtained an updated certification of safety from the International Air Transport Association, keeping up with global standards for safely operating its planes.With the latest certification, Jeju Air is now registered with the IATA as having standards in line with the seventh edition of the IATA Operational Safety Audit evaluation program, the company owned by Aekyung Industrial Co. said.The budget airline first acquired the
IndustryJan. 12, 2015
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Workers of Samsung affiliates to protest against selloff to Hanwha
Workers of Samsung affiliates who will be transferred to Hanwha Group in a sell-off deal said Monday they will stage rallies throughout the country later this week, demanding that the deal be scrapped."(The workers) are angered by the unilateral deal by Samsung Group that has excluded opinions of its workers," an official from Samsung Techwin chapter of the Korean Metal Workers' Union said.Samsung Group announced in November it will sell four chemical and defense units to Hanwha Group as it cont
IndustryJan. 12, 2015
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Seoul shares down 0.19 pct on renewed eurozone woes
South Korean stocks ended 0.19 percent lower Monday as investors' expectations for an economic recovery in the eurozone lost momentum, analysts said. The South Korean won gained against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 3.75 points to 1,920.95. Trading volume was moderate at 301.44 million shares worth 3.48 trillion won ($3.22 billion), with gainers beating decliners 434 to 371.Analysts said investors' prospects for a turnaround in the European economy died dow
Jan. 12, 2015
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Korean won sharply up vs dollar for 3rd day
The South Korean won climbed against the U.S. dollar on Monday, extending its gain to a third consecutive day as the greenback's bulls eased to some degree following a payroll report from the world's largest economy.The Korean won closed at 1,081.40 per dollar, up 8.6 won from the previous session's close, after hitting an intra-day high of 1,080.50, the highest in two months.Analysts said December job data in the U.S. was good, but disappointment over wages helped weaken the prospect of an earl
Jan. 12, 2015
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LG Electronics holds most LTE-related patents
South Korea's No. 2 tech giant LG Electronics Inc. holds the most patents in the long-term evolution (LTE) and LTE-Advanced technologies, data showed Monday, outpacing its bigger local rival Samsung Electronics Co.According to the data compiled by U.S. market researcher TechIPM, LG had the most LTE-related technologies registered with the U.S. Patent and Trademark Office as of this month, followed by Samsung and Qualcomm Inc.While TechIPM did not disclose detailed numbers, its earlier research r
TechnologyJan. 12, 2015
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Chief regulator hints at early Hana Bank-KEB merger
South Korea's chief financial regulator on Monday hinted he may approve a merger of two local banks without an agreement with the labor union, a change from his earlier stance.Hana Financial Group Inc., South Korea's third-largest banking group by assets, has been trying to integrate its flagship Hana Bank with the Korea Exchange Bank, which it bought in 2012 from U.S. buyout firm Lone Star Funds for 3.9 trillion won ($3.57 billion). But the merger attempt had been deadlocked for months due to s
Jan. 12, 2015
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Oil falls further in Asian trade
Oil fell further in Asia Monday, with weak demand and a supply glut putting relentless pressure on prices already at their lowest in five and a half years, analysts said.US benchmark West Texas Intermediate for February delivery was down 84 cents at $47.52 a barrel in afternoon trade and Brent crude for February dropped 81 cents to 49.30."The fundamental factors have not changed much. There is an oversupply and demand is weak," said Daniel Ang, an investment analyst with Phillip Futures in Singa
Jan. 12, 2015
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Hanjin Group has highest debt ratio among top 10 conglomerates
Hanjin Group, the operator of South Korea's No. 1 airline, had the highest debt ratio among the country's top 10 business groups as of end-2013 due to its money-losing shipping affiliate, data showed Monday, fueling concerns over the family-run conglomerate planning to switch to a holdings company structure.The debt-to-equity ratio of Hanjin Group, composed of six listed companies, snowballed to 452.4 percent as of the end of 2013, the highest among the 10 largest local conglomerates, according
IndustryJan. 12, 2015
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Seoul shares trade lower on Wall Street losses
South Korean stocks traded slightly lower late Monday morning as investors sat on the sidelines after overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index edged down 0.08 percent, or 1.54 points, to 1,923.16 as of 11:20 a.m.Market leader Samsung Electronics lost 0.08 percent, and the country's top carmaker Hyundai Motor surrendered 0.83 percent.Tech solutions provider Samsung SDS dropped 3.16 percent after having gained ground in the previous two session
Jan. 12, 2015