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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Is NewJeans headed for a long 'break'?
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S. Korea, Cambodia forge strategic partnership
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
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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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Kepco to raise electricity prices as total debt soars past W200tr
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Kia enjoys brisk sales of Cadenza sedan in U.S.
LOS ANGELES (Yonhap News) ― Kia Motors America, the U.S. sales arm of South Korea’s Kia Motors Corp., said Wednesday that it has been enjoying brisk sales of its Cadenza full-size luxury sedan in the United States, selling nearly 5,000 units so far this year. Kia introduced the Cadenza in the United States in April to try to gain a foothold in the country’s premium car market.Kia sold 1,677 Cadenzas in the U.S. in August, bringing the total number of Cadenzas sold this year to 4,832, according t
Sept. 5, 2013
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Insurers to slash employees’ paychecks
South Korea’s insurance companies plan to slash their employees’ salaries, industry sources said Thursday, amid the rising criticism that insurers are giving excessive paychecks despite their weak performances.The move also comes in line with the government’s move to impose stricter rules on local insurers by providing a guideline on the firms’ wage system, in an apparent bid to protect policyholders and shareholders’ rights.“As insurers are operated with policyholders’ premiums, their manner of
Sept. 5, 2013
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Real GNI growth fastest in four years
Korea’s gross national income rose 2.9 percent in the second quarter of this year compared with the previous quarter, the highest increase in four years, the Bank of Korea said Thursday.The central bank attributed the rise in real GNI per capita to brisk trade and increased income from Koreans working abroad. The country’s GNI growth has been falling since the second quarter of last year when the rate was 1.5 percent, then slid to 0.7 percent in the third quarter of 2012 and 0.3 percent in the f
Sept. 5, 2013
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Leading brands hold ground amid overall decline
Unlike previous years, the economic downturn caused brands’ competitiveness to fall slightly this year, according to a recent annual report released by the Korea Productivity Center.The 2013 National Brand Competitiveness Index, which saw its 10th anniversary this year, found that of the 56 industries it surveyed ― from over 100,000 consumers nationwide ― only 15 industries improved their scores, causing the overall average to drop 0.4 percentage point from last year.Out of a total of 197 brands
Sept. 5, 2013
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Global retailers demand more Ssangyong cars
JEJUDO ― Up to 100 representatives of Ssangyong Motor retailers worldwide gathered here on Wednesday to swap stories of how well Ssangyong was doing in their home countries and enjoy a chance to test-drive the hot-selling New Korando C SUV on the picturesque island. Doubt was the last thing on their faces, and understandably so since the Korean carmaker, after years of anemic sales, was finally gaining some momentum, as recent figures show. After fulfilling its sales goals for the first half of
IndustrySept. 5, 2013
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Hackers find weaknesses in car computer systems
DETROIT (AP) ― As cars become more like PCs on wheels, what’s to stop a hacker from taking over yours?In recent demonstrations, hackers have shown they can slam a car’s brakes at freeway speeds, jerk the steering wheel and even shut down the engine ― all from their laptop computers.The hackers are publicizing their work to reveal vulnerabilities present in a growing number of car computers. All cars and trucks contain anywhere from 20 to 70 computers. They control everything from the brakes to a
TechnologySept. 5, 2013
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Hundreds of thousands of fish killed by China pollution
BEIJING (AFP) ― Hundreds of thousands of dead fish were left floating in a Chinese river after a chemical discharge, officials said, the latest industrial accident to pollute the country’s battered environment.About 100,000 kilograms of fish were cleared from 40 kilometers of the Fu River in Wuhan, the capital of the central province of Hubei, the official Xinhua news agency said. Xinhua said the probe found ammonia levels “far in excess of the national standard” at a drain outlet from Hubei Shu
TechnologySept. 5, 2013
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Tsunami could hit California economy
LOS ANGELES (AP) ― If a monster earthquake struck off Alaska’s coast, tsunami waves would rush toward California, crippling the nation’s busiest port complex and flooding coastal communities, a report released Wednesday suggests.The potential impacts, based on a hypothetical magnitude-9.1 jolt off the Alaskan peninsula, were detailed by a team led by the U.S. Geological Survey to help emergency responders prepare.Tsunamis are a rare but real threat in California. After the 2011 Japan disaster, t
TechnologySept. 5, 2013
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Middle aged women have highest expenses
Koreans in their 40s and 50s spend up to a million won ($910) more than other age brackets on monthly expenses, a study showed. “Marketing strategies from now on should target middle-aged females that hold economic power,” said Kim Dong-yeol, a principal researcher at Hyundai Research Institute. The institute carried out a telephone survey of 1,014 Korean adults. Among different age groups who participated in the survey, men and women in their 40s spent approximately 2.93 million won a month,
Sept. 5, 2013
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S. Korea's economy remains 'subdued' but outlooks improve: KDI
South Korea continues to see its recovery momentum remain "subdued" but the latest indicators are pointing to a "moderate" improvement down the road, a state-run think tank said Thursday."Korea's economy remained subdued, but indicators are increasing turning positive, signaling a moderate improvement," the Korea Development Institute (KDI) said in its monthly report analyzing the latest economic trend. The report is based on major indicators recently unveiled by the government including corpora
Sept. 5, 2013
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Seoul shares close 0.96 pct higher on eased Syria woes
South Korean stocks closed 0.96 percent higher Thursday as investor sentiment was boosted on abated woes over the Syrian crisis, analysts said. The local currency closed higher against the greenback.The benchmark Korea Composite Stock Price Index (KOSPI) gained 18.62 points to finish at 1,933.03. Trading volume was low at 281.9 million shares worth 4.41 trillion won (US$4.04 billion) with gainers outpacing losers 500 to 309.Analysts said Seoul shares closed higher as U.S.-led military action on
Sept. 5, 2013
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Samsung’s ‘smart watch’ gets mixed response
After months of anticipation, snowballing speculation and countless leaked photos online, Samsung Electronics Co. on Wednesday introduced the Galaxy Gear, a wrist-worn device that allows users to check messages and make phone calls without whipping out their smartphones.The new “smart watch,” in spite its futuristic appeal, brought mixed responses, with many not wholeheartedly impressed with the latest device from the South Korean tech giant.Among the biggest issue was that it had no phone funct
TechnologySept. 5, 2013
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Seoul shares up 0.72 pct in late-morning trade
South Korean stocks traded 0.72 percent higher on gains in carmakers and insurers, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 13.83 points to 1,946.86 as of 11:20 a.m.Carmakers gathered ground, with Hyundai Motor adding 0.41 percent and its smaller affiliate Kia Motors climbing 0.92 percent. Top auto parts maker Hyundai Mobis added 1.98 percent.Insurers also gathered ground, with Samsung Life adding 0.5 percent and Hanwha Life increasing 2.13 percent. Dongbu Ins
Sept. 5, 2013
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Samsung Electronics unpacks smart watch, new Galaxy Note
BERLIN ― Samsung Electronics unveiled its latest Galaxy lineup at the “Samsung Unpacked 2013 Episode 2” event two days before the official start of 2013 IFA Berlin. Introducing the Galaxy Note 3, smart watch Galaxy Gear, and new Galaxy Note 10.1, Shin Jong-kyun, president of the IT and mobile division at the Seoul-based electronics firm, said, “Samsung will keep trying to achieve innovation and provide new values for consumers with smart devices that make their lives easier and more enjoyable.”
TechnologySept. 5, 2013
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S. Korea sells $1 bln currency stabilization bonds
South Korea has successfully sold dollar-denominated currency stabilization bonds worth US$1 billion, the finance ministry said Thursday.This comes a day after the ministry said that it launched the official process for the bond sale with the selection of its lead managers."We successfully sold $1 billion worth of dollar-denominated currency stabilization bonds with a 10-year maturity at 1:15 a.m.with a great amount of interest from investors in the U.S., Europe, Asia and across the world," the
Sept. 5, 2013
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S. Korea's economic growth hits over 2-year high in Q2
The South Korean economy grew at the fastest pace in over two years in the second quarter, unchanged from an earlier estimate, due to increased fiscal spending, the central bank said Thursday.Korea's gross domestic product (GDP), the broadest measure of economic performance, expanded 1.1 percent in the April-June period from three months earlier, quickening from a 0.8 percent on-quarter gain in the first quarter, according to the Bank of Korea (BOK).The data confirmed that the second-quarter dat
Sept. 5, 2013
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Seoul shares open higher on eased Syrian woes
South Korean stocks opened higher Thursday as investors' sentiment was boosted by reports that the U.S.-led military action against Syria will be limited to 60 days, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 7.63 points, or 0.39 percent, to 1,940.66 in the first 15 minutes of trading.Carmakers also traded higher, with Hyundai Motor rising 0.62 percent and its auto parts affiliate Hyundai Mobis gaining 1.26 percent. Shipbuilder Hyundai Heavy Industries added 0
Sept. 5, 2013
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Samsung unveils new smartwatch that makes calls
Nearly 70 years after Dick Tracy began wearing a two-way wrist radio in the funny pages, the technology that once seemed impossibly futuristic will be widely available by Christmas.Samsung on Wednesday introduced a digital watch for the holiday season that will let users check messages with a glance at their wrists and have conversations secret agent-style. So-called smartwatches have been around for several years. But so far, they have failed to attract much consumer interest. That may change w
TechnologySept. 5, 2013
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Korean economy loses competitiveness
Korea is rapidly losing its luster as a competitive and innovative economy in the world as the country continues to slide in international growth rankings.The U.S. Central Intelligence Agency’s World Factbook showed that Korea’s ranking in terms of gross domestic product growth fell 60 levels over the last two years, dropping to 117th place out of 189 countries last year.Korea grew 2 percent in 2012, and is expected to face a ranking standstill this year as it is projected to have a similar grow
Sept. 4, 2013
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[Graphic News] Korea’s FX reserves hit record high
According to the Bank of Korea, the nation’s foreign-exchange reserves hit a fresh record high in August due to gains in investment profits. The foreign reserves amounted to $331.09 billion as of end-August, up $1.38 billion from the previous month.
Sept. 4, 2013