Most Popular
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Do Korean doctors make too much money?
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Korean industries gauge impact of Biden's steep tariffs on China
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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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Is FTC's conglomerate listing a boon or bane for Hybe?
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NewJeans to headline palace show
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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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Korea to intensify market monitoring on volatility fears
South Korea will intensify its market monitoring on fears that volatility could deepen in the wake of the U.S. Fed’s decision to make an additional cut to its bond purchase stimulus efforts, a senior economic policymaker said Friday.“We will step up our monitoring on expectations that the situations of market volatility deepening will persist throughout this year,” Vice Finance Minister Choo Kyung-ho said at a meeting with other policymakers to review the latest financial and economic situations
IndustryFeb. 7, 2014
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Apple closes gap with Samsung in China market
Samsung Electronics’ smartphone market share in China fell in the fourth quarter of 2013 as its rival Apple saw a marked increase. Analysts said Apple would continue to see a rise in the first quarter of this year as it recently signed a new deal with China’s largest telecom carrier China Mobile Communications Corporation. According to research firm Strategy Analytics, Samsung’s smartphone market share in China dropped to 19.1 percent, from 21.6 percent in the previous quarter. Apple rose to 7.3
IndustryFeb. 7, 2014
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[Photo News] Responsible drinkers
IndustryFeb. 7, 2014
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GM Korea to cut payroll
GM Korea, the Korean unit of the Detroit-based General Motors, said Friday that it was offering workers a new voluntary redundancy package worth a three-year salary as part of its recent efforts to normalize its financial statements, hit by sagging sales performance. According to industry sources, office workers and some manager-level employees at its Bupyeong factory in Incheon will be eligible for the new round of the early retirement program, the fourth of its kind since 2009. Except those wh
IndustryFeb. 7, 2014
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KB Financial, IBK see earnings fall more than 20%
KB Financial Group, the country’s third-largest banking group by assets, announced Friday that its earnings last year fell 25.9 percent on-year due partly to a low interest rate and increasing bad debt allowances.Net income in 2013 totaled 1.28 trillion won ($1.19 billion), compared with 1.73 trillion won in 2012, the group said in a regulatory filing.It also said that its net interest income fell by 7.3 percent to 6.52 trillion won last year, compared with 7 trillion won the previous year, as i
Feb. 7, 2014
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Sony’s turnaround efforts unlikely to affect Korean players
Sony Corp., the once unchallenged electronics industry leader, announced dramatic measures to turn itself around and return to the forefront, making South Korean tech players listen in but not with much alarm.Market watchers on Friday pointed to the robust presence of South Korean firms in the global market across the board in businesses that Sony concentrates on.“Sony’s efforts will have only a limited impact on South Korean players’ market share in TVs, as the move (of splitting its TV busines
IndustryFeb. 7, 2014
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Local consumer demand for recreational vehicles on rise
Demand for recreational vehicles and vans is on the rise in South Korea as consumers increasingly seek diversity, industry associations said Friday.According to the Korea Automobile Manufacturers Association and Korea Automobile Importers and Distributors Association, of the 1,547,588 cars sold in the country last year, 25.5 percent, or 394,255, were in the RV class, such as sport utility vehicles and car-derived vans.Numbers showed that local original equipment manufacturers such as Hyundai Mot
IndustryFeb. 7, 2014
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Kia unveils Soul EV at Chicago Auto Show
Kia Motors Corp., South Korea’s second-largest carmaker, said Friday it unveiled its Soul electric vehicle for the first time at the Chicago Auto Show, highlighting its merger of superb driving characteristics and functionality while meeting rigorous environmental protection requirements.The EV is based on the platform of its second-generation Soul boxy compact and uses an 81.4 kilowatt electric motor that churns out a maximum of 109 horsepower and 29 kilogram force meters. It can accelerate fro
IndustryFeb. 7, 2014
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Samsung’s 95-inch LFD wins award in Europe
South Korea’s tech giant Samsung Electronics Co. said Friday it has won an award from a European magazine for its 95-inch Large Format Display.The company said it has received the “Most InAVative Display Product” award from business-to-business magazine InAVation for its ME95C model, which began mass production in December last year.LFD refers to panels used for digital signage for advertisements and any product requiring visual effects. Samsung said its 95-inch LFD is optimal for department sto
IndustryFeb. 7, 2014
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What’s your perspective?
How many people have ever heard of a perspective designer? Probably not too many. In fact, there’s only one in Korea, and his name is Park Yong-hu. Park recently sat down with The Korea Herald to talk about why he decided to take on such a job, and what exactly it is he does for a living.“As far as I know, I’m the only official perspective designer in the country,” Park said. “I made that name for myself because I didn’t want to become ‘one of them.’ I wanted to be different, and I wanted the wh
Feb. 7, 2014
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S. Korea's farm exports expected to jump 18 pct in 2014
South Korea's exports of food and agricultural products are expected to rise to a new annual high this year on growing demands in Europe and China, the government said Friday.The Ministry of Agriculture, Food and Rural Affairs said the exports are expected to jump 18 percent on-year to a record high of $6.75 billion this year, surpassing the $6 billion mark for the first time.Last year, outbound shipment of farm products inched up 1.4 percent from a year earlier to $5.72 billion.The expected gro
Feb. 7, 2014
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S. Korean student drawing on personal experience to help Asian athletes in U.S.
When Lee Han-gil, a student at Temple University's Beasley School of Law, moved from South Korea to the United States as a teenager, he was faced with, in his words, "language and cultural challenges."Lee, now 27 and in his last semester at law school, said he "found refuge" on his high school baseball and football teams. He is now trying to draw on his personal experience and help Asian athletes adjust to American culture.Lee is the CEO of Global Sporting Integration, a sports consulting firm h
IndustryFeb. 7, 2014
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[Graphic News] The richer, the healthier
The higher a person’s income level is, the healthier they are, data showed Thursday, According to statistics released by the Ministry of Health and Welfare, 22 percent of the top income group worked out for at least 10 minutes once a week while 14.4 percent of the lowest income class spent time on exercise.The ministry divided the income level into four categories based on monthly wages of 5,500 citizens in 2012. Waist sizes also tended to grow among lower income groups. The obesity rate of the
Feb. 6, 2014
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Samsung chairman wins inheritance lawsuit
The Seoul High Court turned down Thursday an inheritance suit against Samsung chairman Lee Kun-hee lodged by his elder brother Maeng-hee, upholding a lower court’s previous ruling in favor of the younger Lee. “The court judged that the plaintiff (and other siblings) implicitly agreed on (Samsung chairman) Lee’s inheritance of shares in Samsung Group affiliates including Samsung Life Insurance and Samsung Electronics since they did not file any complaint about it for a long period of time,” said
TechnologyFeb. 6, 2014
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Watchdog probing banks over massive loan fraud
Korea’s financial watchdog said Thursday it is investigating several banks for any irregularities or rule violations in a large-scale loan fraud implicating an employee of a KT Corp. affiliate.The Financial Supervisory Service said the employee, surnamed Kim, at KT ENS Co. affiliated with KT Corp., the country’s No. 2 mobile operator, has taken out some 280 billion won ($260 million) in loans from Hana, Kookmin and several other banks.According to the watchdog, the banks had extended the loans t
Feb. 6, 2014
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Improved earnings drive up KOSPI
South Korean stocks rose 0.88 percent on Thursday as concerns over emerging markets and corporate earnings receded, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index advanced 16.57 points to 1,907.89. Trading volume was moderate at 255 million shares worth 3.94 trillion won ($3.65 billion), with gainers outpacing losers 520 to 281.“Investor sentiment was boosted by a stabilizing currency market and better-than-expected corporate earnin
Feb. 6, 2014
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‘Cancer not a death sentence’
Cancer remains one of the most deadly diseases in human history that has no ultimate cure.According to a report released on Feb. 4, World Cancer Day, the disease killed about 8.2 million people globally in 2012 and the number of cancer cases is on rise with 14 million reported the same year. The International Agency for Research on Cancer under the United Nations predicts that the number will rise 75 percent to nearly 25 million over the next two decades.Despite the bleak outlook, Shim Young-mog
TechnologyFeb. 6, 2014
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Peritonitis
The peritoneum is a membrane that covers various organs in the abdomen. Peritonitis is an inflammation of this structure.Peritonitis can be divided into acute and chronic types depending on the progress, or as infective and non-infective depending on the cause.Acute peritonitis is associated with abdominal pain, whereas in chronic peritonitis the pain may actually decrease in severity. Other symptoms such as abdominal distention and nausea can also develop.Causes of acute peritonitis include per
TechnologyFeb. 6, 2014
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[Photo News] Galaxy olymipic park studio
IndustryFeb. 6, 2014
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Stock-rich kids’ shareholdings total 390 billion won: data
Younger and financially inactive family members of corporate owners hold shares worth some 390 billion won ($363 million) in listed firms, with a 9-month-old baby holding shares worth 800 million won, data showed on Thursday.According to the data compiled by research firm CEOscore, some 230 family members of owners of 1,769 listed firms, ages 19 or below, held a combined 391 billion won in shares as of Tuesday.The data also showed a total of 7,990 corporate owners and their family members each h
IndustryFeb. 6, 2014