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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LG rolls out smart platforms at CES, taps IoT industry
South Korea's No. 2 tech giant LG Electronics Inc. on Tuesday showcased its new smart platforms at the Consumer Electronics Show (CES) taking place in Las Vegas, adding the platforms will help it expand its footprint in Internet-of-Things (IoT) businesses.At this year's CES, LG showcased the Web OS 2.0, an updated version of the Web OS smart TV platform released last year. The company said the new system will deliver a more convenient user experience by boasting a faster speed.The company said i
CompaniesJan. 6, 2015
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Samsung Electronics ranks No. 2 in R&D spending in 2013
South Korea's top tech giant, Samsung Electronics Co., ranked No. 2 in research and development (R&D) spending for the second consecutive year in 2013, data showed Tuesday.According to the Korea Institute of Science and Technology Evaluation and Planning (KISTEP), which cited the data compiled by the European Commission, Samsung spent 10.16 billion euros (US$12.12 billion) on R&D projects in 2013, lower than the 11.7 billion euros by German carmaker Volkswagen AG.U.S.-based Microsoft Corp. with
CompaniesJan. 6, 2015
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Combined sales of Hyundai, Kia in U.S. hit record high in 2014
Hyundai Motor Group, the world's fifth-largest automaker, said Monday that its U.S. sales reached an all-time high in 2014 despite lingering worries over slowing global economic recovery and intensifying competition from Japanese rivals supported by the weak yen.Hyundai Motor America (HMA) and Kia Motors America (KMA), the distribution and marketing arms of the group's flagship companies, said that they sold 725,718 cars and 580,234 vehicles last year, up 0.7 percent and 8.4 percent from a year
CompaniesJan. 6, 2015
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Samsung to fund US$100 mln to IoT developers
South Korea's top tech giant, Samsung Electronics Co., said Tuesday it plans to inject US$100 million into funding start-ups and developers of the Internet-of-Things (IoT) technologies, adding all Samsung products will be connected to the IoT network by 2020."The IoT is the source of infinite potential that can enrich livelihoods and protect people depending on their needs and situations, further changing society and the economy," said Yoon Boo-keun, who heads Samsung Electronics' consumer produ
CompaniesJan. 6, 2015
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Auto recalls down 27 pct in S. Korea: data
The number of automobile recalls in South Korea shrank 27.2 percent in 2014 from a year earlier, a car safety agency said Tuesday, on the back of a decline for local carmakers.A total of 755,501 vehicles registered here were recalled for safety reasons last year, down from 1.04 million units in 2013, according to the data compiled by the Korea Transportation Safety Authority. The number of models affected, however, jumped 80.5 percent on-year to 352 from the previous 195.There were fewer recalls
IndustryJan. 6, 2015
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Hyundai Motor to invest 81 tln won by 2018
Hyundai Motor Group, the world's fifth-largest automaker, said Tuesday it will invest about 81 trillion won (US$73 billion) over the next four years as it seeks to become a global leader by improving facilities and securing core technologies. Hyundai Motor Group said it will spend 49.1 trillion won in building new plants and expanding facilities by 2018, and invest 31.6 trillion won on research and development. The large-scale investment is aimed at obtaining key technologies needed to produce e
CompaniesJan. 6, 2015
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S. Korea to invest $400 mln in development of new growth engines
South Korea will invest over US$400 million this year to help develop new and indigenous products and technologies that will help boost the country's economy and exports, the government said Tuesday.The Ministry of Trade, Industry and Energy said the government seeks to develop 13 new industrial growth engines that include smart wearable devices, self-driving vehicles and a high-speed unmanned aerial vehicle that can take off and land vertically.For their development, the government will invest
Jan. 6, 2015
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Jeju Air to launch Busan-Guam flights this week
Jeju Air Co., South Korea's largest low cost carrier, said Tuesday that it will start flights on the route between Busan and Guam this week to meet growing demand. Starting on Thursday, the carrier will offer two flights per week on the route on Thursdays and Sundays, the company owned by Aekyung Industrial Co. said.This is the first time that the budget carrier will provide flights bound for Guam from a provincial region, not from South Korea's main gateway of Incheon International Airport. The
IndustryJan. 6, 2015
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Large firms plan to increase hiring this year: poll
A majority of South Korea's large corporations plan to increase hirings this year while nearly half of them also plan to expand capital investment, a survey showed Tuesday.Some 77 percent of the respondents said they plan to increase employment this year, slightly falling from 78.4 percent a year earlier, according to the survey, carried out by the Hyundai Research Institute, of the country's 100 biggest firms in 10 industries in terms of sales.While the figure dipped, the percentage of companie
Jan. 6, 2015
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Over half of Japanese firms in S. Korea to expand biz: survey
More than half of Japanese companies operating in South Korea plan to expand their business in the near future on expectations of more demand, a survey showed Tuesday.According to the survey of 231 Japanese companies doing business in Korea, 52.8 percent said that they plan to expand their businesses here "within one or two years." The survey conducted by the Japan External Trade Organization, however, showed that the ratio was 7.6 percentage points down from the same poll conducted a year earli
Jan. 6, 2015
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S. Korea set to begin talks on liberalization of rice market
Five countries, including the United States, have so far raised objections to South Korea's proposed tariff rate on its rice imports, officials said Tuesday, as negotiations begin on the terms for South Korea's rice market opening.After 20 years of waivers, South Korea liberalized its rice market through tariffication at the start of the year with a 513 percent tariff to be imposed on all non-mandatory rice imports.The country has to import 408,700 tons of rice every year under minimum market ac
IndustryJan. 6, 2015
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LG reveals new G Flex 2 curved smartphone at CES
South Korea's No. 2 tech giant LG Electronics Inc. on Tuesday rolled out its new curved-style smartphone at the Consumer Electronics Show (CES) in Las Vegas, with updated features from the original G Flex first showcased in 2013.The G Flex 2, featuring a 5.5-inch display that curves inward from top to bottom, is slightly smaller than its 6-inch predecessor. The smartphone will become available in the home market this month and gradually reach overseas markets later this year.Equipped with a full
MobilityJan. 6, 2015
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Samsung Electronics ranks No. 2 in R&D spending in 2013
South Korea's top tech giant, Samsung Electronics Co., ranked No. 2 in research and development (R&D) spending for the second consecutive year in 2013, data showed Tuesday. According to the Korea Institute of Science and Technology Evaluation and Planning (KISTEP), which cited the data compiled by the European Commission, Samsung spent 10.16 billion euros (US$12.12 billion) on R&D projects in 2013, lower than the 11.7 billion euros by German carmaker Volkswagen AG. U.S.-based Microsoft Corp.
IndustryJan. 6, 2015
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Combined sales of Hyundai, Kia in U.S. hit record high in 2014
Hyundai Motor Group, the world's fifth-largest automaker, said Monday that its U.S. sales reached an all-time high in 2014 despite lingering worries over slowing global economic recovery and intensifying competition from Japanese rivals supported by the weak yen. Hyundai Motor America (HMA) and Kia Motors America (KMA), the distribution and marketing arms of the group's flagship companies, said that they sold 725,718 cars and 580,234 vehicles last year, up 0.7 percent and 8.4 percent from a ye
IndustryJan. 6, 2015
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(Photo News) Cargo ship stranded
Small boats sail round the Hoegh Osaka car transporter cargo ship that ran aground off the Isle of Wight, England, Sunday. The crew members of the Hoegh Osaka were taken to safety by a coastguard helicopter and lifeboats. (AP-Yonhap)
Jan. 5, 2015
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Currency wars on the horizon
The following is the fourth in a series of articles on the prospects for the world economy in 2015. ― Ed.Brazilian Finance Minister Guido Mantega popularized the term “currency war” in 2010 to describe policies employed at the time by major central banks to boost the competitiveness of their economies through weakening their currencies. As we enter 2015, the specter of currency wars appears to be once again looming on the horizon.In layman’s terms, currency wars are said to occur when countries
Jan. 5, 2015
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[Graphic News] Shadow banking sector doubles in 5 years
The size of shadow banking in Korea doubled in five years, according to data released by the Swiss-based global monitoring body Financial Stability Board on Monday.The value of the shadow banking industry, which mainly refers to nonbank financial intermediaries that provide services similar to traditional banks under less strict regulatory oversight, reached about $1.47 trillion in 2013, or 113.4 percent of the country’s GDP, the FSB said. Following the subprime meltdown in 2008 and the global f
Jan. 5, 2015
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[SUPER RICH] Daum Kakao chief is Korea’s most liked superrich figure
We love, hate, envy, admire and emulate the traits of the rich men. In the digital era, we share information, impression and our feelings toward the superrich online. The Korea Herald Special Investigation Team and social media analyst, Jelly Fish studied “big data” related to wealthy people of Korea and abroad to pinpoint our latest obsessions and how we perceive them. The team has studied articles and search terms on www.naver.com, the country’s largest portal site, as well as Twitter, Faceboo
IndustryJan. 5, 2015
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Caffe Bene to open outlets in Thailand and Laos this year
The Korean coffee shop franchise Caffe Bene has officially entered the Thai and Laotian markets, company officials said on Monday.Caffe Bene said in a statement that it had concluded a contract with JKN Global Media, one of Thailand’s largest media companies to jointly establish JKN Bene Co., which will manage Caffe Bene branches in the two countries.“We will provide differentiating strategies appropriate for the Thai and Laotian markets, respectively,” an official from Caffe Bene said. He added
IndustryJan. 5, 2015
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FDI in Korea reaches record high in 2014
New foreign direct investment pledged to South Korea surged over 30 percent from a year earlier to a record high in 2014, with the amount that has arrived also climbing to a new high, the government said Monday.The new FDI committed to the country came to $19 billion last year, up 30.6 percent from 2013, according to the Ministry of Trade, Industry and Energy. The 2014 figure also marked a 16.6 percent spike from the previous record of $16.29 billion in 2012.“Posting a record amount of FDI despi
Jan. 5, 2015