Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Unemployment accelerates biological aging among men: study
A joint research team from Britain and Finland suggested that work-related stress is linked to accelerated aging, scientific journal PLOS ONE reported on Nov. 20. The University of Olulu in Finland and Imperial College London in Britain analyzed the relationship between 5,620 Finnish men and women’s DNA and their period of unemployment between 1994 and 1997. They compared DNA samples of men who were employed and unemployed to see whether cell lifespan was associated with stress. Unemployed men w
TechnologyNov. 27, 2013
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Gov't to ease rules for financial firms' overseas expansion
The government rolled out Wednesday a set of long-term plans to help South Korean financial companies expand their overseas footholds, as part of a broader move to boost growth in the financial industry.The Financial Services Commission (FSC), the country's top financial regulator, will allow local banks to acquire a financial holding company based overseas so that the lender can expand investment in a foreign country.Under the envisioned plan, the FSC will lower the required stake threshold for
Nov. 27, 2013
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Korea's economic activity edges up in Oct., Nov. : BOK report
South Korea's economic activity inched up in October and November, compared with the third quarter on improving exports and marginal increases in consumption and facility investment, the central bank said Wednesday.Asia's fourth-largest economy has been on a modest recovery track since the fourth quarter of last year and the recovery momentum is seen as being further strengthened, the Bank of Korea (BOK) said in the report dubbed the BOK Golden Book.The BOK released the Korean version of the U.S
Nov. 27, 2013
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Seoul shares open lower on losses in techs, telecoms
South Korean stocks began lower Wednesday due to losses in technology firms and mobile carriers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.4 points, or 0.27 percent, to 2,017.24 in the first 15 minutes of trading.Tech shares led the market decline, with Samsung Electronics falling 0.74 percent and its smaller local rival LG Electronics moving down 0.15 percent. Flat panel maker LG Display shed 0.63 percent.Mobile carriers also traded bearish, with KT losing 0.1
Nov. 27, 2013
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Korean manufacturers' confidence for Dec. falls to 3-month low
Business sentiment among local manufacturers declined to the lowest in three months in December amid lingering economic uncertainty, the central bank said Wednesday.The index that gauges manufacturers' outlook on business conditions reached 78 for December, down from a 17-month high of 83 recorded for November, according to a monthly survey from the Bank of Korea (BOK). The index measures manufacturers' expectations for the coming month.The December data marked the lowest level since 77 tallied
Nov. 27, 2013
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[Photo News] Seeking part-time jobs
DefenseNov. 26, 2013
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Airlines to face suspension in case of fatal accident
The government said Tuesday that airline companies involved in aviation accidents would face reinforced penalties including a flight suspension of up to 30 days.The board of flight safety, affiliated with the Ministry of Land, Infrastructure and Transport, announced a set of comprehensive flight safety measures, which officials said will be included in the government’s incoming flight safety bill.The measures are a follow-up to the government’s efforts to enhance aviation safety after the Asiana
Nov. 26, 2013
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[Graphic News] R&D investment by Korean firms
Korean firms’ investment in research and development leans toward the electronics sector, reaching 46.6 percent of total R&D spending in 2011, according to a report by the Korea Institute of Science and Technology Evaluation and Planning. But the levels of investment in the high-tech industries of aerospace technology, pharmaceuticals and machinery stalled at 0.2 percent, 2.3 percent and 2.4 percent, respectively.
Nov. 26, 2013
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Korea aims to land on moon by 2020
South Korea is looking to put an unmanned space vehicle on the moon by 2020 with its own rocket, the government announced Tuesday.In January, Korea successfully launched a scientific satellite into orbit from its own soil with a locally assembled space rocket, the Korea Space Launch Vehicle-1, built in cooperation with Russian scientists.Korea now aims to complete the development of a three-stage domestically produced space rocket by 2020, according to the Ministry of Science, ICT and Future Pla
TechnologyNov. 26, 2013
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New Hyundai Genesis unveiled
Hyundai Motor on Tuesday took the wraps off the long-anticipated new Genesis, which the carmaker calls the ultimate expression of its years of efforts to create premium models.At a lavishly choreographed launching event held at a Seoul hotel, more than 1,000 Hyundai executives and business leaders across industries gathered to celebrate the debut of the revamped luxury sedan. Prime Minister Chung Hong-won and National Assembly Vice Speaker Lee Byung-seok also attended the show.“The new Genesis i
IndustryNov. 26, 2013
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KB Kookmin Bank may face suspension of some branches
Financial supervisory officials said Tuesday that they are considering halting the operations of some branches of KB Kookmin Bank, which has been under full-fledged regulatory investigation over its irregular business practices.Several of the commercial bank’s branches at home and abroad were found to have engaged in misconduct including embezzlement, money laundering, unauthorized lending and loan interest-overcharging, according to the Financial Supervisory Service.Further, the FSS ― in collab
Nov. 26, 2013
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Conglomerates, ministries work to boost employment
A part-time job fair for women returning from a career hiatus and the retired elderly opened on Tuesday at an exhibition in Seoul jointly held by local conglomerates and the government.Job seekers ― mostly married women and retired seniors ― formed long lines before the main gates of the exhibition center at Coex in Gangnam. The job applicants waited their turns for job interviews and consulting, with some taking photos for applications on the sidelines. The longest line was in front of the pavi
TechnologyNov. 26, 2013
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Regulators not considering lottery cash ban
The Ministry of Strategy and Finance said Tuesday that it is not considering banning consumers from purchasing lottery tickets with cash.This comes as news outlets reported that Korea’s gambling regulators were moving to prohibit consumers from buying tickets with cash by adopting the electronic card payment system in an effort to prevent gambling addiction.The Finance Ministry said that the media reports were “untrue and that it is not considering banning cash payments for lotteries.”Electronic
Nov. 26, 2013
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Top Samsung Electronics execs to gather next month
Samsung Electronics’ top executives from around the world will gather in Korea next month to participate in meetings to discuss next year’s business strategies, company officials said on Tuesday.“The executives will look back on the achievements made in the latter half of this year and discuss business strategies (for) next year,” a Samsung official said. Around 600 executives from business units at home and abroad will attend the meetings at Samsung’s business sites in Suwon and Giheung, both i
TechnologyNov. 26, 2013
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Google Korea names John Lee as new head
Google Korea said Tuesday that it appointed John Lee as its new CEO. He is scheduled to work for the company from early next year. Lee holds a bachelor of science in computer engineering from Carleton College and earned an MBA at Harvard Business School. He worked for British retailer Tesco, developing e-commerce system in Malaysia, and recently spearheaded marketing and business in China’s market. He previously served as a CEO of Clorox and Reckitt Benckiser. The CEO post of Google Korea has be
IndustryNov. 26, 2013
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Daelim-led group wins $2.1b order from Oman
Daelim Industrial Co., one of South Korea’s leading builders, said Tuesday that it has teamed up with a British company to obtain an order worth $2.1 billion from the Omani government to expand a refinery plant.Daelim and its British partner, Petrofac Ltd., one of the world’s leading oilfield service companies, will complete the expansion of a refinery and the construction of a new refinery in 36 months once work commences. Daelim, however, did not reveal when it will break ground on them. The r
IndustryNov. 26, 2013
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Country clubs in economic sand trap
Koreans are avid golfers and the numbers prove it. According to the Korea Golf Course Business Association, more than 18 million golfers visited the nation’s golf courses last year.The number reflects a continuous upward curve starting from 1983 when the organization first began to collect data on the Korean golf industry.Since then, not once has the number of golfers decreased. The same goes for the number of golf courses, with the figure reaching 248 last year, more than 10 times the number ba
IndustryNov. 26, 2013
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KOSPI, key rate expected to rise in 2014: Goldman Sachs
Goldman Sachs said on Tuesday that the benchmark Korea Composite Stock Price Index is expected to rise to 2,350 points and the key interest rate to 3 percent by the end of 2014, amid the economic recovery of its largest trading partners. “Korea is expected to surpass the world average in growth rate (in 2014),” said Kwon Goo-hoon, managing director and chief Korea strategist at the Korean operation of Goldman Sachs, in a press briefing in Seoul.Kwon pointed out that the accelerating economic gro
Nov. 26, 2013
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Construction CEOs cross borders in bid to boost turnover
Hoping to latch on to an unprecedented uptrend in construction overseas and offset the slump of the domestic market, the heads of major Korean builders have recently been ramping up overseas business trips.The frequency and the length of the visits were especially conspicuous for large-sized builders which have been experiencing a fall in local stock prices this year.Overseas construction orders won by Korean builders this year amounted to $597 billion as of last week, according to the Internati
BusinessNov. 26, 2013
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Seoul shares end 0.33 pct up amid currency woes
South Korean stocks closed 0.33 percent higher Tuesday, as renewed fear over local currency's rise against major global currencies weighed down investor confidence, analysts said. The Korean won gathered ground against the U.S.dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 6.66 points to finish at 2,022.64. Trading volume was light at 269.7 million shares worth 3.39 trillion won ($3.19 billion) with gainers outpacing losers 408 to 386.The KOSPI started off the session shar
Nov. 26, 2013