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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Major firms’ presence further grows on earnings chart
Earnings by South Korea’s listed companies increased in the first quarter of the year, but some heavyweights racked up a bigger portion, strengthening their presence in the corporate earnings arena, data showed Monday.The combined net profit of 502 firms listed on the main bourse came to 19.16 trillion won ($18.7 billion) on a consolidated basis in the January-March period, up 4.57 percent from a year earlier, while their operating income fell 1.48 percent on-year to 25.79 trillion won, the data
IndustryJune 2, 2014
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Kia Motors’ May domestic sales down 8.2%
Kia Motors Corp., South Korea’s second-largest automaker, said Monday its domestic sales fell 8.2 percent in May from a year ago due to decreased production at home. Its overseas sales, however, rose 1.5 percent on-year in May.A fewer number of working days due to holidays early in the month pulled down its domestic sales in May, the automaker said. Kia Motors sold a total of 253,618 units last month, 36,252 at home and 217,366 abroad. A 3.8 percent gain in its overseas production was the main f
MobilityJune 2, 2014
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SC Bank touts Iraq investment
In line with its continuous efforts to deepen client relationships, Standard Chartered Bank on Monday hosted an informative session tailored for Korean businesses interested in investing in Iraq.Senior representatives from the bank’s Iraq unit and corporate banking experts participated in the one-day seminar held in Seoul, providing rare insights for South Korean clients interested in investing in oil, power and infrastructure projects in the Middle Eastern country, the bank said. Gavin Wishart,
June 2, 2014
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It’s not over yet: Experts warn of lingering financial risk
Six years after the collapse of Lehman Brothers, economic experts said there are signs of recovery from the global financial crisis but warned of lingering uncertainties at a two-day forum hosted by the Bank of Korea that started on Monday. One of the significant indicators is that the U.S. real estate market ― the key origin of the global recession triggered by the Lehman Brothers crisis ― is not as promising as market analysts claim, according to Harvard economist Robert Barro. Participants of
June 2, 2014
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NASA to test Mars parachute
LOS ANGELES (AP) ― The skies off the Hawaiian island of Kauai will be a stand-in for Mars as NASA prepares to launch a saucer-shaped vehicle in an experimental flight designed to land heavy loads on the red planet.For decades, robotic landers and rovers have hitched a ride to Earth’s planetary neighbor using the same parachute design. But NASA needs a bigger and stronger parachute if it wants to send astronauts there.Weather permitting, the space agency will conduct a test flight Tuesday high in
TechnologyJune 2, 2014
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Smart World Cup teams tap science to beat heat
PARIS (AP) ― European teams say they are more prepared than ever for a hot and humid World Cup, training in saunas, planning to soak their jerseys in cold water before games and working with doctors to design the perfect hydration formula for each player.Even though the tournament is held in Brazil’s winter, stadiums in the tropical north will be warm, with temperatures often above 30 degrees Celsius. And many games will be played under the afternoon sun, so they can be broadcast in prime time i
TechnologyJune 2, 2014
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Cousteau plans 31-day underwater mission
ISLAMORADA, Florida (AP) ― Like viewers worldwide, Fabien Cousteau was entranced by his famous grandfather’s films about marine life and human exploration underwater. Now he’s adding to his family’s sea stories with a 31-day underwater expedition in the Florida Keys.Cousteau dove Sunday to Aquarius Reef Base, a school bus-sized laboratory 18 meters below the ocean’s surface, a few kilometers off Key Largo. He plans to spend more than a month living underwater with a five-person crew, making a do
TechnologyJune 2, 2014
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Hyundai Motor unveils world's first mobile car diagnostics system
Hyundai Motor Group, the world's fifth-largest automotive conglomerate, said Monday that it has developed a mobile diagnostics system that can quickly determine problems in a car using an ordinary tablet PC. The new Global Diagnostic System (GDS) is a world first and represents a jump in technology compared to the tools used by Hyundai Motor Co. and Kia Motors Corp. since 2006, the conglomerate claimed. The two carmakers are flagships of the conglomerate and the top two manufacturers of au
MobilityJune 2, 2014
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Overseas construction orders won by S. Korean builders up 35 pct in 2014
Overseas construction orders secured by South Korean builders stood at US$31.6 billion in the first five months of this year, up 35 percent compared to 2013, local industry data showed Monday. The International Contractors Association of Korea (ICAK) said the total is the highest reached for the period since 2010 when the $18.6 billion order for the United Arab Emirate's nuclear reactor project was tallied. By region, orders from the Middle East accounted for 78 percent of the total, or $
IndustryJune 2, 2014
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Daelim Industrial wins 245 bln won Singapore subway construction order
Daelim Industrial Co., one of South Korea's leading builders, said Monday it won a 245 billion won (US$239.2 million) contract to build part of a subway line in Singapore. The company said the contract reached with the city-state's Land Transport Authority is to build 1.42 kilometers of the Thomson Line, which includes one station and some 1.2 kilometers of tunnel. Construction is expected to take 79 months, with work to be completed in December 2020. The overall length of the new subw
IndustryJune 2, 2014
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Sales of South Korean carmakers remain flat in May
Sales by South Korean automakers remained at a standstill last month from a year earlier, mainly due to fewer working days, data showed Monday. The combined sales of five local car manufacturers, including market leader Hyundai Motor Co., reached 746,978 vehicles in May, up just 80 units from 746,898 units a year ago. The total excludes knockdown kits shipped abroad for assembly. The total represents a 6.9 percent drop from 802,657 vehicles sold in April. Carmakers said that the four-
MobilityJune 2, 2014
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Korea's economy to grow 3.63 percent in 2014: global investors
Global investment banks and rating agencies forecast that South Korea's economy will advance in the mid 3-percent range this year, data showed Monday, lower than estimates by local government and institutions. Projections from 33 major IBs and credit rating agencies said South Korea's gross domestic product, the broadest measure of economic performance, is expected to grow 3.63 percent this year, according to Bloomberg data. Last year, the Korean economy grew 3 percent.Barclays and Wells Fargo p
June 2, 2014
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Samsung to introduce low-end phablet Galaxy W at home
Samsung Electronics Co., the world's No. 1 maker of smartphones, said Monday it will add a low-end phablet to its Galaxy smartphone lineup, which is optimized for visual contents through HD displays.The Galaxy W, to be released Tuesday, comes with a 7-inch display, larger than the 5.7-inch of the flagship Galaxy Note 3 phablet, with an aspect ratio of 16.9. A phablet refers to a cross between a smartphone and tablet PC, and has been one of the focused projects by tech giants amid saturation of t
TechnologyJune 2, 2014
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Number of firms on watchdog's list increases in June
The overall number of business group affiliates subject to restrictions on mutual investments and loan guarantees rose in June from a month earlier, the antitrust watchdog said Monday.The Fair Trade Commission said the number on the watch list stood at 1,688 from 63 business groups as of Monday, up four from the previous month.Twelve affiliates were included on the list following a stake purchase or launching of new companies, while eight companies were removed, the watchdog said.Under South Kor
June 2, 2014
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[Newsmaker] Fear mounts over net neutrality breakdown
The Internet, one of the world’s greatest inventions of the 20th century, faces a possible makeover as it is being threatened by a new U.S. rule that can overthrow its openness and indiscriminate accessibility.Concerns over the possible breakdown in net neutrality, in which all Internet data should be treated equally, have been rising especially since the U.S. Federal Communications Commission lost a court battle against Verizon early this year.The two sides have been duking it out over net neut
TechnologyJune 1, 2014
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IFEZ to make Songdo more business-friendly
If one visits Songdo today, they would find that over the past decade, the place has been completely transformed from a muddy tract into a bustling international hub for both local and global companies.This transformation is the result of the hard work of the many involved parties, namely the Incheon Free Economic Zone Authority which governs the Songdo international business district.In a recent interview with The Korea Herald, IFEZ commissioner Lee Jong-cheol said he would continue to work on
IndustryJune 1, 2014
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IFEZ becoming magnet for global enterprises
The reputation of the Incheon Free Economic Zone in the city of Incheon has been slowly but steadily building over the years, and it now stands as an international business hub that is attracting an ever-growing list of global firms and organizations. Just looking at the numbers, the IFEZ has so far attracted 13 international organizations including the Association of World Election Bodies and UNESCAP.Among the organizations nestled in the international business district, the Green Climate Fund
TechnologyJune 1, 2014
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Kookmin Bank’s internal feud intensifies
KB Kookmin Bank’s internal feud appeared to intensify as the board of directors and the management once again failed to reach an agreement on plans for replacing the bank’s computer system, a matter that has somehow turned into a power struggle between the bank management and outside directors. With the government now involved ― the Financial Supervisory Service has decided to speed up its special investigation into corruption regarding the system replacement as the outside directors claim ― it
June 1, 2014
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Seoul shares to surpass 2,000 level on foreign buying
The South Korean stock market is expected to climb and stay above the 2,000-point level this week on a series of prompts at home and abroad, analysts said.The benchmark Korea Composite Stock Price Index lost 22.21 points from the previous week to close at 1,994.96 points Friday as investors went profit-hunting after a heated rally.After closing at a yearly high the week before, the KOSPI sank below the 2,000-point level in 10 sessions on Monday on institutional selling.On Wednesday, it soared ba
June 1, 2014
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LG smart WebOS TV sales surpass 1m mark
LG Electronics, one of the largest manufacturers of consumer appliances in the world, said Sunday that sales of its latest smart WebOS TVs surpassed the 1 million mark, just three months after the product reached consumers.The company said its latest smart TV sets are sold in 45 countries around the world, with sales in North and Latin America hitting 320,000 units. Sales in Europe and the Commonwealth of Independent States, or a bloc of former Soviet states, also reached 380,000 units, the comp
TechnologyJune 1, 2014