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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S. Korea, Cambodia forge strategic partnership
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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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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New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Schindler still eyeing Hyundai’s elevator unit
The chief of Schindler Holding AG said buying Hyundai Elevator Co.’s lift business can still be considered if conditions permit, although he does not think such a development is likely to occur without outside intervention.In a telephone conference with journalists, Alfred Schindler stressed that he had no intention of pursuing a hostile takeover of the South Korean company that enjoys about 42 percent of market share in the country.He stressed that such actions, based on his experience, would b
IndustryFeb. 9, 2014
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Samsung stirs controversy over Apple ban at Olympics
A controversy is heating up surrounding claims that Samsung demanded athletes to cover up their non-Samsung electronic products such as Apple’s iPhones during the Sochi Winter Olympics.Samsung, a major Olympic sponsor, has allegedly set a condition for athletes receiving gift bags with Samsung’s Galaxy Note 3 smartphones: to physically hide all Apple’s logos if they are using products such as iPhones during the opening ceremony of the games.Details of the clamp-down, which is said to require tha
TechnologyFeb. 9, 2014
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Korean airlines to reduce Japan-bound flights
South Korea’s major airlines plan to suspend or reduce their flights bound for Japan as the number of passengers visiting the country is declining, company and industry sources said Sunday.Asiana Airlines Inc. plans to suspend its twice-a-day flights linking the southeastern port city of Busan to Osaka starting Feb. 21. It recently received approval from the transportation ministry for the flight suspension, according to the sources.An Asiana Airlines official said that the decision was made due
IndustryFeb. 9, 2014
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Bond deals down in January amid global recovery signs
The amount of bond transactions in South Korea dropped in January from a month earlier as investors put more money into riskier assets amid signs that the global economy is recovering, data showed Sunday.According to data provided by the Korea Financial Investment Association and the Korea Exchange, the amount of bond transactions taking place last month came to 470 trillion won ($437.5 billion), down 11 percent from the previous month.This marked the first time in two years since January 2012 t
Feb. 9, 2014
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Public firms’ welfare spending high despite heavy debt
Twelve debt-ridden public organizations in South Korea have spent more than 300 billion won ($279.3 million) over the past five years on providing welfare benefits, including financial support for health and education, data showed Sunday.According to the data offered by government information portal Alio, the most indebted public firms, which include LH Corp., Korea Electric Power Corp. and Korea Coal Corp., spent a combined 317.4 billion won from 2009 to 2013 on four major welfare benefits.The
IndustryFeb. 9, 2014
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Bosch seeks bigger role in Hyundai’s diesel strategy
Hyundai Motor may have failed to gain an early edge in the nation’s diesel car market currently dominated by German luxury brands, but it has great potential for reversing the trend, said Markus Heyn, president of Bosch’s diesel systems division. “Hyundai is now capable of delivering attractive diesel vehicles into the market. And Bosch is here to support the efforts,” he told The Korea Herald on Friday at the Korean headquarters in Yongin, Gyeonggi Province. Touted for their torque and fuel ec
MobilityFeb. 9, 2014
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[Photo News] Soul EV
MobilityFeb. 9, 2014
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Lexus named most affordable luxury car
Toyota’s premium sedan brand Lexus was named the most reasonably priced luxury marque by Kelley Blue Book for the second consecutive year.Topping the “2014 5-year Cost to Own” category alongside Mazda, Lexus models had the overall lowest-projected price tag for the first five years of ownership, the car shopping data service said. In the Kelley Blue Book awards, Lexus LS and RX topped the High-End Luxury and SUV/Crossover categories, respectively. According to KBB, Lexus offsets the purchase pri
MobilityFeb. 9, 2014
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Peugeot presses on with tie-up
The board of embattled French carmaker Peugeot reiterated Thursday that it was pressing on with a tie-up with China’s Dong Feng and the French state despite a split on the issue within the Peugeot family.Reports had emerged that chairman Thierry Peugeot and smaller shareholders were against the restructuring that would bring Peugeot an urgently needed 3 billion euro ($4.0 billion) cash injection.If completed, the plan would give Dong Feng, the French state and the Peugeot family each a 14 percen
MobilityFeb. 9, 2014
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Honda touts progress in F1 comeback
Japanese automaker Honda said Friday it is making “steady progress” toward its return to Formula One racing in 2015.Honda said last year it would rejoin the European-dominated sport as an engine supplier to British team McLaren in a bid to revive their championship-winning partnership.“The company is making steady progress in developing the power unit,” Honda said in a statement outlining its motorsports strategy for 2014.The company is establishing its European base for F1 activity in Milton Ke
MobilityFeb. 9, 2014
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Carmakers hope for better days at India Auto Show
Global car manufacturers jostled for attention at the opening of the Indian Auto Expo on Wednesday, attempting to revive buyers’ interest in a local market that is contracting for the first time in a decade.The giant show on the outskirts of the capital will be used to launch 69 new vehicles for the Indian market, which local and foreign carmakers still see as a future growth centre despite its present-day woes. “The first month of 2014 did not witness any improvement in the overall industry per
MobilityFeb. 9, 2014
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Ford says car exports from U.S. up 50% since 2009
Ford Motor said strong trade partnerships are needed to maintain the company’s U.S. exports that have grown 50 percent since 2009, when auto-industry sales reached a 27-year low.Ford, the second-biggest U.S. automaker, is the nation’s largest exporter of vehicles, Joe Hinrichs, Ford’s president of the Americas, said at the Chicago Auto Show.While Ford shipped more than 370,000 vehicles out of the U.S. last year, and more than 30,000 Edge and Explorer sport-utility vehicles produced in North Amer
MobilityFeb. 9, 2014
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5 superfoods that don’t get enough attention
The news website of business and technology magazine Forbes reported on five healthy food. Experts on nutrition Kristin Kirkpatrick and Liz Bedell made the list. 1. SpinachIn terms of daily recommended intake, spinach contains 52 percent for beta carotene, 460 percent for vitamin K and 34 percent for vitamin C. It contains 21 percent for iron and 15 percent for vitamin B6. Spinach also contains glycoglycerolipids, which help in the fight against cancer.2. Olive oilOlive oil’s big claim to fame i
TechnologyFeb. 9, 2014
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Toyota close to $1 bln deal to settle U.S. probe -WSJ
Toyota Motor Corp is close to a deal to pay $1 billion to settle a U.S. criminal investigation into how it disclosed customers' complaints about unintended acceleration years ago, the Wall Street Journal reported on Friday, citing anonymous sources.Toyota could reach a deal with U.S. authorities within weeks, the Journal quoted the sources as saying, ending a four-year probe into one of the Japanese automaker's most embarrassing international episodes.The deal under negotiation could still colla
IndustryFeb. 8, 2014
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HTC, Nokia reach settlement on patent lawsuits
Taiwan's smartphone maker HTC said Saturday it has signed a patent and technology collaboration agreement with Finnish phone giant Nokia to end all pending patent litigation between them.Under the deal, HTC will make payments to Nokia and the collaboration will involve HTC's LTE patent portfolio to further strengthen Nokia's licensing offering, a company statement said.The companies will also explore future technology collaboration opportunities, HTC said, adding that the full terms of the agree
TechnologyFeb. 8, 2014
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Samsung Antitrust Probe Over Patent Use Closed by U.S.
Samsung Electronics Co. won’t be penalized for its efforts to exclude certain Apple Inc. products from the U.S. market after the Justice Department closed an investigation without taking action. The department’s antitrust division closed its review because the U.S. Trade Representative in August vetoed an import ban won by Samsung against some older Apple iPhone models, the U.S. said in a statement today. The case involved Samsung patents on essential technology used throughout the mobile-phone
IndustryFeb. 8, 2014
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Brother of Samsung chief calls for reconciliation
The elder brother of Samsung Electronics Chairman Lee Kun-hee called for reconciliation with the chairman, his law firm said Friday, a day after he lost an inheritance appeal.Lee Maeng-hee said through Yoon & Yang LLC that he hopes to quickly open a dialogue channel with Samsung for reconciliation with South Korea's richest man.He said his "sincerity to end the case with a heartfelt reconciliation remains unchanged," according to the law firm.The move came a day after the Seoul High Court upheld
TechnologyFeb. 7, 2014
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Korea on alert over financial scams
Financial authorities are widening the scope of their investigation into possible fraudulent financial transactions in the wake of loan scams involving a unit of KT Corp. and some major commercial banks. The Financial Supervisory Service said Friday it would investigate all commercial and saving banks as well as other capital services companies to crack down on irregularities or violations.The announcement came while police are questioning an employee of KT ENS, affiliated with KT Corp., the nat
Feb. 7, 2014
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Korea, UAE cooperate on IPR protection
The Korea Intellectual Property Office and United Arab Emirates Ministry of Economy signed a memorandum of understanding regarding intellectual property right protection during a high-level meeting in Seoul on Friday.Since 1980 Korea and the UAE have maintained a partnership in various fields like nuclear energy, resource development and construction, but this recent MOU signing means the two countries’ economic cooperation has been expanded to include intangible resources.The MOU has two main c
Feb. 7, 2014
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[Photo News] Spot check
IndustryFeb. 7, 2014