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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Coupang's Kim Bom escapes chaebol chief designation again
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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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KEPCO helps blind Filipino children
Korea Electric Power Corp., a company whose core business is powering up society by generating and distributing electricity, has long been pursuing corporate social responsibility programs that reflect its role as a power supplier. “Some companies consider CSR as a passing fad or another source of pressure, but it’s a critical factor for becoming a socially responsible firm for business to build key infrastructure for the development of a society,” said Korea Electric Power Corp. CEO Cho Hwan-ik
IndustryFeb. 4, 2014
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Hyundai, Kia sales in U.S. grow in January
Hyundai Motor Group, the world’s fifth-largest automotive conglomerate, said Monday that its U.S. sales got off to a good start in January thanks to demand for its compact cars and sport utility vehicles.Hyundai Motor America and Kia Motors America, the distribution and marketing arms of the group’s flagship companies, said sales were up 1 percent and 2 percent, respectively, in the one month period, compared with a year earlier. The growth in sales numbers are in contrast to the 0.3 percent dip
MobilityFeb. 4, 2014
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Kia’s upcoming Soul EV receives eco-friendly certification
Kia Motors Corp. said Tuesday its Soul electric vehicle, to be unveiled at the upcoming Chicago Auto Show, received an eco-friendly certification from a leading U.S. safety organization.The Soul EV, which earned the “Environmental Claim Validation” from Underwriters Laboratories, makes extensive use of bio plastics, fabrics and foam, the company said. The interior trim uses plastic based on cellulose, with bio fabrics outfitting the carpets and eco-friendly paint applied to the car. It also util
MobilityFeb. 4, 2014
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SK Innovation’s net plunges 36% in 2013
SK Innovation Co., which owns the country’s top refiner SK Energy Co., said Tuesday its net profit tumbled 36 percent last year from a year ago due to decreased margin in the refining business.Net profit came to 757.03 billion won ($698 million) in 2013, compared with 1.18 trillion won a year earlier, the company said in a regulatory filing.Sales fell 9.1 percent to 66.67 trillion won in the period, and operating profit dropped 18.7 percent to 1.38 trillion won.The figures reflected earnings fro
IndustryFeb. 4, 2014
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Samsung to roll out next Galaxy smartphone on Feb. 24
South Korea’s tech giant Samsung Electronics Co. is anticipated to roll out its next Galaxy smartphone lineup, presumably the Galaxy S5, at the annual Mobile World Congress slated for later this month.The world’s top smartphone maker said Tuesday it will hold the “Samsung Unpacked 2014 Episode 1” event in Barcelona, Spain, on Feb. 24. It said it will introduce new mobile devices but did not provide further details.Samsung’s press release, however, carried a blue stamp showing a box being unpacke
TechnologyFeb. 4, 2014
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Credit card spending growth hits lowest level in 2013
South Korea’s credit card spending climbed 4.7 percent in 2013 from a year earlier, the slowest pace on record, a trade association said Tuesday.Purchases made with credit cards totaled 545.2 trillion won ($502.8 billion) last year, up 24.27 trillion won from the previous year, according to the Credit Finance Association.The data includes credit, debit and prepaid card use. Cash advances, overseas spending and card loans were not included.The 2013 tally marks the slowest growth since 2005, when
IndustryFeb. 4, 2014
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LG Display tops LCD market for fourth year running
South Korea’s panel giant LG Display Co. led the global market for large-sized liquid crystal displays for the fourth consecutive year in 2013, market research data showed Tuesday.LG Display accounted for 26.7 percent of the world’s 9.1-inch-and-above LCD market last year by shipping 186.6 million units, according to the data compiled by DisplaySearch.While LG maintained its No. 1 spot for the 17th consecutive quarter since the October-December period of 2009, the latest figure marked a slight d
TechnologyFeb. 4, 2014
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Hard times ahead for KB
KB Financial Group is undergoing possibly one of the worst crises since its inception. The nation’s No. 2 banking group suffered a blow that was big enough to threaten its status in 2013 after its flagship unit, KB Kookmin Bank, was rattled by a series of scandals involving illegal loans, embezzlement and irregularities at its overseas branches. The company then got off on the wrong foot this year with a data breach that hit several credit card firms including the one affiliated with KB. KB Kook
Feb. 4, 2014
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Lotte eyes overseas coffee mix market with Nestle tie-up
Lotte joined hands with Nestle, the world’s largest food maker, to target the overseas market where a growing number of people are starting to appreciate the taste of Korean-style instant coffee mix.On Jan. 27, Lotte Food, the food manufacturing division of the country’s fifth-largest business conglomerate, established LOTTE-Nestle (Korea) Co. with Nestle Korea after investing 50 billion won in a 50 percent stake. The new firm will produce an instant coffee mix consisting of powdered coffee and
BusinessFeb. 4, 2014
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CJ Group’s Lee sells Korean cool as brother fights tax charge
Miky Lee, vice chairman of CJ Group, beams as she greets a visitor in the executive lounge of South Korea’s biggest purveyor of food, home-shopping services, TV programs and movies. Wearing a black top, charcoal leggings and midcalf Michael Kors sneakers, the 55-year-old granddaughter of Samsung Group’s founder shows no sign it’s been a traumatic last few months.Settling in for her first major interview, Lee opens up about how she’s leading the shaken Samsung offshoot after CJ Group Chairman Lee
Feb. 4, 2014
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Oil sands pollution two to three times higher than thought
WASHINGTON (AFP) ― The amount of harmful pollutants released in the process of recovering oil from tar sands in western Canada is likely far higher than corporate interests say, university researchers said Monday.Actual levels of polycyclic aromatic hydrocarbon missions into the air may be two to three times higher than estimated, said the findings in the Proceedings of the National Academy of Sciences, a peer-reviewed U.S. journal.The study raises new questions about the accuracy of environment
TechnologyFeb. 4, 2014
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Beer tasting with ...an artificial twist
Spanish researchers have created an electronic “tongue” capable of distinguishing between beer varieties and their alcohol content.The artificial organ was accurate nearly 82 percent of the time, said its creators ― and could be the first step toward developing robots with a sense of taste.The taster was made using 21 electrodes, each responsive to different chemical compounds, such as ammonium, sodium, nitrate and chloride, according to researchers from the Autonomous University of Barcelona.Ex
TechnologyFeb. 4, 2014
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Elements come together for next big telescope
All the pieces of the most powerful space telescope ever are ready for assembly at NASA, the space agency said Monday.The $8.8 billion James Webb Space Telescope is scheduled for launch in 2018 and aims to provide an unprecedented look at far-away planets and the first galaxies formed.A successor to the Hubble Space Telescope launched in 1990, it is a joint project of NASA, the European Space Agency and the Canadian Space Agency.All 18 of its primary mirror segments and four science instruments
TechnologyFeb. 4, 2014
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Causes of bad breath and treatment options
A Seoul National University professor disclosed the causes of and preventative measures for halitosis, as a survey suggested that 30 percent of Koreans suffer from bad breath. Prof. Park Hee-kyung from the university’s dental hospital introduced a method for self-evaluating one’s breath in the morning. First, exhale in a paper cup and smell the breath. Second, wash your hands, lick the back of your hand and smell it. If it smells bad, it is mainly due to poor oral health and medical conditions,
TechnologyFeb. 4, 2014
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For longevity, men need sleep
Sleep plays a far more important role in men’s mortality than in women’s, Daily Mail reported.According to a study led by Melbourne-based Monash University, women can live long lives despite poor sleep habits as long as they eat a diverse diet that includes vitamin B6 and plenty of vegetables. Vitamin B6 can be found in food such as meat, bananas, nuts, garlic and pistachios.Elderly participants in the study who did not sleep well were also less able to chew, had poor appetites, and did less phy
TechnologyFeb. 4, 2014
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S. Korea set to introduce insurance plans on social ills
South Korea's financial regulator is planning to allow insurers to sell policies covering social ills such as domestic and school violence starting this year, industry sources said Tuesday.According to the sources, the Financial Services Commission is pushing to introduce the insurance products as part of broader efforts to cover damages related to such social problems.President Park Geun-hye has been focusing on eradicating what she called the four major social ills threatening public safety --
Feb. 4, 2014
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S. Korea to build int'l hub for leisure, tourism near airport
South Korea will build a new leisure town near its main gateway that will serve as an international economic and tourism hub, the oceans ministry announced Tuesday.The tentatively named Yeongjong Dream Island, budgeted at near $2 billion, will be built on reclaimed land around a bridge between Seoul and Incheon International Airport, according to the Ministry of Oceans and Fisheries.The first phase of the development plan is set to begin in the second half of next year for completion by 2018. Th
Feb. 4, 2014
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Gov't mulls overhaul of ID system following data leak
The government began a review of how to change a decades-old resident registration system to better protect personal information in the wake of last month's massive data leak, officials said Tuesday.In January, some 20 million citizens' personal and financial data were found to have leaked from the country's major credit card companies, sparking a public outcry demanding a reform in the old and loose identification system."As part of efforts to better protect personal information, we've been rev
Feb. 4, 2014
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Worldwide cancer cases to soar by 70% over next 20 years
Cancer cases worldwide are predicted to increase by 70 percent over the next two decades, from 14 million in 2012 to 25 million new cases a year, according to the World Health Organization.The incidence of cancer globally has increased in just four years from 12.7 million in 2008 to 14.1 million new cases in 2012, when there were 8.2 million deaths. Over the next 20 years, it is expected to hit 25 million a year, a 70 percent increase.Lung cancer is the most commonly diagnosed cancer type among
TechnologyFeb. 4, 2014
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S. Korea assigns 4.65 tln won to support women
The government will set aside 4.65 trillion won ($4.27 billion) this year to carry out diverse programs aimed at supporting women at their homes and workplaces, the finance ministry said Tuesday.The budget appropriated for supporting women is up 26.3 percent, or 968.6 billion, won from last year, according to the ministry. It is focused mostly on assisting working moms from pregnancy to childbirth and then with childcare.Of the total, 3.64 trillion won will go to childcare through programs pushe
Feb. 4, 2014