Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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[Weekender] Geeks have never been so chic in Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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Human rights commission urges Korea to raise awareness of LGBTQ rights
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Teens banned from entering, working at 'hold 'em' pubs, cafes
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Samsung expected to introduce new Exynos processor in next Galaxy series
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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
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Korean builders’ overseas construction orders reach $31b
Overseas construction orders procured by South Korean builders reached $31.6 billion in the first five months of this year, up 35 percent from the same period a year ago.According to data by the International Contractors Association of Korea, the order amount was the highest in four years since a Korean consortium won a contract to build nuclear reactors in the United Arab Emirates in 2010.By region, the Middle East remained the largest client with orders totaling $24.6 billion, accounting for 7
IndustryJune 3, 2014
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Hyundai-Kia’s home market share dips back to 70% range in May
The local market share held by Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. dipped to the upper 70 percent range in May despite release of new car models, industry data showed Tuesday.Monthly records indicated the two carmakers claimed a combined 79.3 percent, down slightly from over 80 percent tallied in April.Of the 121,239 cars sold locally, Hyundai, the country’s No. 1 carmaker, accounted for 49.4 percent, or 59,911 units. This represents a 9.1 percent dip in sales from 65,89
MobilityJune 3, 2014
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Hyundai E&C develops new road surfacing technique
Hyundai Engineering & Construction Co. said Tuesday that it has developed a new eco-friendly technique to pave roads, using scrapped car parts and electric furnace slag.South Korea’s No. 1 builder said it carried out joint research with Hyundai Motor Co., Kia Motors Corp. and Hyundai Steel to replace the use of sand and limestone with industrial by-products from car glass and electric arc furnaces, including slag ― a leftover material after coal is smelted in an electric furnace.It added the pro
IndustryJune 3, 2014
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[Herald Interview] IP5 to boost global patent cooperation
An increase in global trade has created a borderless world and spurred competition, calling on businesses to develop and introduce technologies for a wide range of consumers with different tastes.A new market called for companies to adopt innovative strategies that include safeguarding their inventions by filing their intellectual properties as efficiently and globally as possible amid growing patent disputes.And this is where the so-called Intellectual Property Five comes in to accommodate the
TechnologyJune 3, 2014
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IP5 forum aims for user-friendly platforms
The heads of the world’s five largest intellectual property offices, otherwise known as the IP5, will deliberate on ways to improve patent issuance and protection processes when they convene this week for a three-day global forum from Wednesday to Friday in Busan, according to the Korean Intellectual Property Office.The IP5 consists of the patent offices of Korea, Japan, China, the U.S. and Europe.This marks the second time the five IPOs have gathered in South Korea since a previous meeting on J
IndustryJune 3, 2014
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Top officials to discuss patent issues in Busan
Five intellectual property experts of the IP5, a global patent cooperation framework, are gathering in Busan this week for a meeting hosted by the Korean Intellectual Property Office. Launched in 2008, the conference aims to enhance the efficiency and stability of patent rights. The host country’s KIPO commissioner, Kim Young-min, is a former director general for trade and Industrial cooperation at the Ministry of Trade, Industry and Energy. He served as a deputy commissioner at KIPO from 2011-2
IndustryJune 3, 2014
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People have more fear of male-named hurricanes
WASHINGTON (AP) ― Which scares you more: Hurricane Victor or Hurricane Victoria? People are slightly less likely to flee an oncoming storm with a feminine name than a masculine one, a new study finds.But here is Victoria’s secret: Hurricanes with feminine names turn out to be deadlier in the United States than their more macho-sounding counterparts, probably because their monikers make people underestimate their danger, the researchers conclude.In fact, the two deadliest storms to make landfall
TechnologyJune 3, 2014
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Samsung Everland to be listed
Samsung Everland Inc., the de facto holding firm of South Korea's largest conglomerate Samsung Group, will seek an initial public offering this year, company officials said Tuesday, a move apparently linked to the group's management succession to the next generation of the owner family.Samsung Everland, a zoo and theme park operator, is the center of a complex web of the conglomerate's cross-shareholdings. (Yonhap)
IndustryJune 3, 2014
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Samsung to unveil Gear 3
Samsung Electronics, the world’s largest smartphone maker, is striving to take the lead in the global wearables market and is likely to roll out its next-generation smartwatch, presumably the Samsung Gear 3, in the latter half of this year, according to industry sources. “Samsung is working on the next generation of the Samsung Gear 2, and it will be sold in a bundle package with the upcoming Galaxy Note 4,” one of the sources said. Samsung’s smartwatches, the Galaxy Gear and Samsung Gear 2, hav
TechnologyJune 2, 2014
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KMI sole bidder for 2.5GHz bandwidth: gov't
Korea Mobile Internet (KMI) is the sole bidder for the 2.5Ghz frequency bandwidth that can be used for long-term evolution time-division duplex (LTE-TDD) and wireless broadband (WiBro), the government said Monday. According to the Ministry of Science, ICT and Future Planning, KMI has been the only bidder in the auction that began on May 2. The company made up of mobile virtual network firms originally requested a license to become a LTE-TDD operator on Nov. 14 2013, but retracted its request
TechnologyJune 2, 2014
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New screening system may help find Botox substitute
Local researchers said Monday they have developed a low-cost screening system that may potentially help discover natural substances that will work as a substitute for materials related to neurotransmission like Botox.The study, led by a team of researchers from the Gwangju Institute of Science and Technology, focuses on identifying the process of synaptic vesicle membrane fusion, which involves the synaptic vesicle and the neuron. The fusion secretes a neurotransmitter, the interaction of which
TechnologyJune 2, 2014