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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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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S. Korea, Cambodia forge strategic partnership
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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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Hyundai Motor begins producing heavy-duty trucks in China
Hyundai Motor, South Korea’s top carmaker, has started producing heavy-duty trucks in China, a company official said Wednesday, joining an intensifying competition with rivals such as Daimler and Volvo for the Chinese market for big trucks. Production of the two-engine Trago Xcient luxury trucks recently began as Hyundai completed its commercial vehicle plant in Ziyuan, Sichuan province, said the official at Hyundai’s Beijing office. The new plant in Sichuan was completed about two years after H
IndustryJune 4, 2014
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Korea sells $2b foreign exchange stabilization bonds
The South Korean government said Wednesday that it has successfully sold $2 billion worth of foreign exchange equalization bonds. “The government has successfully sold $1 billion worth of dollar-denominated bonds and euro-denominated bonds worth about another $1 billion,” the Ministry of Strategy and Finance said.The dollar-denominated bonds with a 30-year maturity carry an interest rate of 4.143 percent. It marks the first time the country has issued foreign currency-denominated bonds with a 30
June 4, 2014
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Korean banks target rich Chinese for growth
South Korean lenders are reaching out to wealthy Chinese customers as they seek new growth engines amid ultra-low interest rates and lackluster demand on their home turf.Local banks have been providing Chinese-language banking services to mostly blue-collar laborers in southwest Seoul. However, recent moves highlight their efforts to tap affluent Chinese who have already emerged as a major force in the retail sector. Woori Bank, the flagship unit of the nation’s biggest banking group, said Tuesd
June 4, 2014
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Kia Motors recalls 2,595 K7 passenger cars over defective wheels
Kia Motors, South Korea’s second-largest automaker, is recalling certain model year K7 passenger vehicles over problems with their wheels, the transportation ministry said Wednesday.According to the Ministry of Land, Infrastructure and Transport, the car’s aluminum wheels may crack, potentially causing the car to become unsafe to drive. The recall affects 2,595 cars produced between Sept. 21, 2012, and Aug. 27, 2013. Kia Motors, an affiliate of local industry leader Hyundai Motor, will provide f
IndustryJune 4, 2014
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Technology brings changes to voting
Korea posted a record high early voter turnout in part due to technologies such as electronic voting, adopted at ballot stations nationwide.Various political agenda ― from the Sewol ferry sinking and education, to public welfare and security ― have driven mostly those in their 20s and 30s to vote in advance.But the record turnout of 11.5 percent during the two-day period last week was partly attributable to a connected system allowing more than 3,500 polling stations to rapidly cross-check voter
TechnologyJune 4, 2014
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Computex participants bet big on wearables
TAIPEI ― Computex, one of Asia’s biggest information and communication technology trade shows, kicked off on Tuesday, highlighting a wide variety of cutting-edge technologies from smartwatches to smartglasses powered by energy efficient chips.ARM, the British chip giant whose designs are found in more than 90 percent of global smartphones and tablets, drew attention from both the media and the tech industry as it announced it would be focusing on developing smaller and more powerful processors f
TechnologyJune 4, 2014
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Microsoft Asia chief to visit Korea
Microsoft Asia Pacific president Cesar Cernuda is set to visit South Korea next week to examine the county’s market and seek expansionary opportunities in the mobile market, said industry sources claiming knowledge of the matter.A Microsoft Korea official confirmed that Cernuda will be coming to Korea as part of his annual tour to meet the company’s enterprise customers, and attend in-house meetings and marketing events. Cernuda, who was appointed the new Asia chief last year, will be coming to
TechnologyJune 4, 2014
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Volume of encrypted email rising amid spying fears
The volume of email cloaked in encryption technology is rapidly rising as Google, Yahoo, Facebook and other major Internet companies try to shield their users’ online communications from government spies and other snoops.Google and other companies are now automatically encrypting all email, but that doesn’t ensure confidentiality unless the recipients’ email provider also adopts the technology.In an analysis released Tuesday, Google Inc. said that about 65 percent of the messages sent by its Gma
TechnologyJune 4, 2014
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Japanese scientist to retract stem-cell papers
TOKYO (AFP) ― A Japanese stem-cell scientist accused of fabricating research has agreed to retract papers published in the respected journal Nature, an official said Wednesday. Haruko Obokata, 30, would withdraw two papers at the center of the controversy, according to a spokeswoman for Riken, the respected research institute that sponsored the study, marking a steep fall from grace for the young researcher.“We confirmed that she agreed to retract both articles,” the spokeswoman said. She added
TechnologyJune 4, 2014
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Making embryos from 3 people appears safe
LONDON (AP) ― Britain’s fertility regulator says controversial techniques to create embryos from the DNA of three people “do not appear to be unsafe” even though no one has ever received the treatment, according to a new report released Tuesday.The report based its conclusion largely on lab tests and some animal experiments and called for further experiments before patients are treated.“Until a healthy baby is born, we cannot say 100 percent that these techniques are safe,” said Dr. Andy Greenfi
TechnologyJune 4, 2014
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Hatcheries able to disrupt steelhead navigation
GRANTS PASS, Oregon (AP) ― A new study suggests that steelhead trout can have trouble using the Earth’s magnetic field to navigate if they were raised in a hatchery, where the field can be distorted by iron pipes.Scientists at the Oregon Hatchery Research Center in Alsea raised two sets of fish: one outside the hatchery with a natural magnetic field, and one inside the hatchery, where instruments showed the field was distorted.Fish raised outside the hatchery oriented themselves to changes in th
TechnologyJune 4, 2014
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Hyundai Motor begins producing heavy-duty trucks in China
Hyundai Motor Co., South Korea's top carmaker, has started producing heavy-duty trucks in China, a company official said Wednesday, joining an intensifying competition with rivals such as Daimler and Volvo for the Chinese market for big trucks. Production of the two-engine Trago Xcient luxury trucks recently began as Hyundai completed building its commercial vehicle plant in Ziyuan, Sichuan province, said the official at Hyundai's Beijing office. The new plant in Sichuan was completed about two
IndustryJune 4, 2014
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Korean banks target rich Chinese amid profitability woes
South Korean lenders are reaching out to wealthy Chinese customers as they seek new growth engines amid ultra-low interest rates and lackluster demand on their home turf.Local banks have been providing Chinese-language banking services to mostly blue-collar laborers in southwest Seoul.However, recent moves highlight their efforts to tap affluent Chinese who have already emerged as a major force in the retail sector.Woori Bank, the flagship unit of South Korea's biggest banking group, said Tuesda
June 4, 2014
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Samsung IPOs to finance Lee’s succession plans
The planned initial public offerings of Samsung Everland and Samsung SDS will allow Samsung Group chairman Lee Kun-hee’s three children to secure capital worth some 5 trillion won ($4.9 billion) to inherit wealth and ownership of Lee’s business empire.Samsung Everland, the de facto holding company of the group, said Tuesday that it would go public by early next year, a widely expected move by the market following the announcement of Samsung SDS’ stock flotation plan last month.The market has bee
TechnologyJune 3, 2014
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[Graphic News] Fewer elderly Korean parents live with their children
The number of elderly parents living separately from their children has increased dramatically over the past 20 years, according to a report released by the Korea Institute for Health and Social Services.The report says the number of senior citizens who live alone with their spouse increased from 26.8 percent in 1994 to 48.6 percent in 2011. The number who live with their children, on the other hand, decreased from 54.7 percent in 1994 to 27.3 percent in 2011.The number of seniors who live alone
TechnologyJune 3, 2014
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Inter-affiliate trades of chaebol hit record high last year
The intra-group deals of South Korea’s top 10 conglomerates reached an all-time high last year amid growing calls for reining in the economic power of family-controlled conglomerates, data showed on Tuesday.The combined inter-affiliate transactions of the top conglomerates came to 154 trillion won ($150 billion) in 2013, up 1.92 percent, or 2.9 trillion won, from 2012, according to the data compiled by Chaebul.com, which tracks the country’s conglomerates.The 2013 figure marks the highest-ever,
IndustryJune 3, 2014
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[Herald Interview] Why we should care about Chinese real estate prices
Let’s go back in time to the early 2000s and say you have $1 million to invest in either a fully developed or an emerging market. what would you choose? Many would opt for the emerging market, with the rationale being that investing in a rapidly developing market would generate quick and high returns. But betting on a fast-growing part of the world has actually led to losses for many over the past years because of the constant high risks associated with rapid economic growth, according to renown
June 3, 2014
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Stocks inch up on news of Samsung Everland IPO
South Korean stocks finished 0.33 percent higher to reverse an earlier choppy session Tuesday as investor sentiment was buoyed on news of Samsung Everland’s plans to go public in the first quarter of next year. The South Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index finished at 2,008.56, up 6.56 points from Monday’s close after moving in a tight range. Trading volume was moderate at 241.84 million shares worth 4.49 trillion won ($4.38 billion), with dec
June 3, 2014
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Consumer prices grow fastest in 19 months in May
South Korea’s consumer prices grew at the fastest pace in 19 months in May, maintaining their upward trend after a protracted slow price gain that prompted concerns over deflation, a government report showed Tuesday.The country’s consumer price index rose 1.7 percent last month from a year earlier, the fastest on-year rise since October 2012, when it advanced 2.1 percent, according to the report by Statistics Korea. The core inflation, which excludes volatile oil and food prices, rose 2.2 percen
June 3, 2014
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‘U.S. firms seeking litigation opportunities against Korean rivals’
More U.S. companies are finding intellectual property litigations a profitable source of income, and Korean companies should be prepared for this trend, a U.S. legal expert said Tuesday. Everything from hiring consultants to setting up sales strategies and meticulous documenting should be done with care to ensure protection from such lawsuits, said Jeff Randall, global cochair of intellectual property at the law firm Paul Hastings. “The expansion of Korean conglomerates into the U.S. market and
IndustryJune 3, 2014