Most Popular
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[KH Explains] Why Korea's so tough on short selling
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Iran’s president found dead at helicopter crash site
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‘Kim desperately wanted to denuclearize,’ Moon writes in memoirs
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Actors involved in past controversies return first via streaming service originals
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Seoul rolls out W250b package in bid to lure foreign talent
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Korea set to finalize medical school expansion plans
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Korea's increasing US investment mutually beneficial: report
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Seoul City to open 'hotel' on river bridge
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Korean builders nervous about possible setbacks in Middle East
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Illegal fishing poses danger to global fish stocks: experts
By Kim Joo-hyunThe fishing industry is caught in a dilemma between hopes to expand industrial fishing and the need to address environmental problems, according to a U.S. professor.“Throughout history, people have often responded to food shortages by exploiting animals, plant foods, or fish more intensively,” said Brian Fagan, a professor of anthropology at the University of California, Santa Barbara.Today, with billions depending on fish for protein, the world is faced with a tremendous challeng
Sept. 3, 2013
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Sons of Hyosung chairman vie for stakes in flagship firm
Two sons of the chairman of Hyosung Group, a South Korean family-run conglomerate, are competing to secure stakes in the group’s flagship company Hyosung Corp. in a bid to gain control of the group’s management, industry sources and data said Tuesday. According to regulatory filing, Cho Hyun-jun, the eldest son of Cho Suk-rai, chief executive of Hyosung and the group’s chairman, increased his stakes in the flagship company to 9.14 percent from 8.55 percent by buying 206,804 shares last month. Hy
Sept. 3, 2013
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Chinese consumers turn to Korean premium food products
With the rising interest of Chinese consumers in Korean foods thanks to hallyu, Chinese retail chains will start adding Korea to its overseas food sourcing network.“We plan to source more Korean green and organic foods for our premium food chains as perception about the quality of Korean foods continue to be improving,” Liu Hui Ling, assistant general manager of China Resources Vanguard, or CR Vanguard, said in a recent interview. CR Vanguard is one of the largest retail groups in China running
Sept. 3, 2013
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TB followed humans out of Africa
One of the largest genetic investigations into the microbe which causes TB shows the germ followed early humans out of Africa at least 70,000 years ago, scientists say.In a parallel probe, investigators also said they had identified 39 new genes that drive dangerous drug resistance in this germ, Mycobacterium tuberculosis.TB is one of the deadliest diseases in the medical lexicon.Untreated, it kills roughly half the people it infects.Even today, in the era of advanced antibiotics, it causes betw
TechnologySept. 3, 2013
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Sandy’s path may be less likely in future
WASHINGTON (AP) ― Man-made global warming may further lessen the likelihood of the freak atmospheric steering currents that last year shoved Superstorm Sandy due west into New Jersey, a new study says.But don’t celebrate a rare beneficial climate change prediction just yet. The study’s authors said the once-in-700-years path was only one factor in the massive $50 billion killer storm. They said other variables such as sea level rise and stronger storms will worsen with global warming and outweig
TechnologySept. 3, 2013
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[Photo News] Chuseok discount
IndustrySept. 3, 2013
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[Photo News] Safety for children
Novelis Asia president Shashi Maudgal (left) and Song Ja, chairman of Safe Kids Korea, pose after the steelmaker agreed to donate portable oxygen masks and disposable fire extinguishers for children’s fire safety education programs by the foundation on Tuesday in Seoul. (Novelis Asia)
IndustrySept. 3, 2013
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Seoul shares up 0.46 pct on improved eurozone, China data
South Korean stocks closed 0.46 percent higher Tuesday as investors' sentiment was boosted by improved economic data from the eurozone and China, analysts said.The local currency closed higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 8.93 points to finish at 1,933.74. Trading volume was low at 294.2 million shares worth 3.98 trillion won ($3.62 billion) with gainers outpacing losers 542 to 265.Analysts said the gain of Seoul shares came as the Purch
Sept. 3, 2013
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MS to buy Nokia’s phone unit for $7.2b
Microsoft Corp. agreed to buy Nokia Oyj’s handset business and license its patents for 5.44 billion euros ($7.2 billion), casting together the lot of two companies trying to stay relevant against fleet-footed technology rivals. The deal changes the nature of both companies. Nokia is exiting from the mobile-phone business it once dominated, leaving it mainly as a network equipment maker. Microsoft, which became the world’s largest software maker on the back of its Windows operating system, is mov
IndustrySept. 3, 2013
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LG to roll out G2 smartphone in U.S., Germany
South Korean tech giant LG Electronics Inc. said Tuesday that it plans to release its latest flagship smartphone, the LG G2, in the U.S. and Germany this month, in a bid to further shore up its presence in the global high-end smartphone market.The 5.2-inch smartphone by the world's third-largest smartphone maker debuted in South Korea last month to take on rivals Samsung Electronics Co. and Apple Inc. in the domestic market. The LG G2, the first device rolled out by LG Electronics after it dropp
TechnologySept. 3, 2013
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Seoul shares open higher on improved data
South Korean stocks opened higher Tuesday as investor sentiment was boosted by improved economic data from China and the eurozone, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 5.93 points, or 0.31 percent, to 1,930.74 in the first 15 minutes of trading.Tech shares traded bullish, with market behemoth Samsung Electronics adding 0.52 percent and top chipmaker SK hynix rising 0.71 percent. Samsung SDI, a local plasma display panel maker, added 1.18 percent.Mobile c
Sept. 3, 2013
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Banks' foreign currency loans grow $1.3 bln in H1
Foreign currency-denominated loans extended by South Korean banks to residents grew by US$1.28 billion in the first half from six months earlier on increased dollar demand to cover import bills, the financial watchdog said Tuesday.Outstanding foreign currency loans amounted to $31.21 billion as of the end of June, compared with $29.93 billion at the end of last year, according to the Financial Supervisory Service (FSS).In the second quarter, such lending grew by $950 million, faster than the $33
Sept. 3, 2013
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Chaebol welfare foundations hold W4tr stocks in affiliates
Scholarship or welfare foundations of the nation’s 10 major business groups were found to hold shares worth more than 4 trillion won ($3.5 billion) in their commercial affiliates such as Samsung Electronics and Hyundai Motor.Data compiled by Chaebul.com, which tracks conglomerate-related information, showed Monday that 19 nonprofit foundations, controlled by the 10 conglomerates, collectively own stocks totaling 4.72 trillion won in their profit-making sister firms as of Aug. 29.While the organi
Sept. 2, 2013
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[Graphic News] Fall delayed by climate change
A study by the Korean Meteorological Agency has found that the average start of autumn was Sept. 26 for Seoul in the 2000s, seven days later than in the 1970s. The KMA attributed the change to global warming and urbanization.
Sept. 2, 2013
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Nearly 20 million card users see benefits reduced
About 19 million credit card users saw their card benefits reduced because of policy changes by card firms, according to a report from the Financial Supervisory Service.The report, which was submitted to ruling party lawmaker Park Dae-dong, said the actual number of card users who underwent benefit cuts may be smaller, considering that one customer possesses four cards on average.Big name card companies involved in the benefit schemes include Shinhan Card, KB Kookmin Card, Samsung Card, Hana SK
Sept. 2, 2013
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Ministry to test service quality of Oriental medicine hospitals
The Ministry of Health and Welfare said Monday it would recommend Oriental medicine hospitals with more than 30 beds to go through a service quality assessment, starting next year.Hospitals, if approved by inspection authorities, would be awarded service quality certification by the ministry, officials said. The quality of medical service, sanitary control and staff management will be examined by commissioners from the Korea Institute for Healthcare Accreditation for hospitals that apply for the
TechnologySept. 2, 2013
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‘Clonentrepreneurship’ key to creating ecosystem
The Korea Herald is publishing a series of articles scrutinizing key aspects and sectors related to the creative economy the Park Geun-hye government is promoting as a national agenda. The series will feature interviews with top government officials and IT gurus, and strategies to embody the policy. The special articles were made in cooperation with the Ministry of Science, ICT and Future Planning and the Ministry of Trade, Industry and Energy. This is the fourth part of the creative economy ser
Sept. 2, 2013
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BMW, Tesla emerge as electric car rivals
BMW, the world’s top “premium” car brand in both sales and brand recognition, probably never thought it would be up against a newcomer like Tesla, but the situation today is that the German carmaker may indeed have something to fear.“We won’t say BMW perceives Tesla as a rival, but it is closely watching the company,” said one industry source close to the matter.Tesla, on the other hand, appeared to be nonchalant and fearless, with the CEO Elon Musk commenting that “there’s room to improve on th
MobilitySept. 2, 2013
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Doosan Heavy seen gearing up to acquire Italian firm
Rumors that Doosan Heavy Industries and Construction might soon take over Ansaldo Energia, a leading Italian power engineering company, are flaring up again after media reported on fundraising efforts for the deal. Ansaldo Energia, owned by Finmeccanica, a state-run Italian defense and aerospace group, was put up for auction last year due to mounting debt. Finmeccanica holds a controlling 55 percent stake in Ansaldo Energia, while U.S. private equity firm First Reserve holds the remaining 45 per
IndustrySept. 2, 2013
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Hankook Tire to supply tires to Mercedes-Benz
Hankook Tire said Monday that it had recently signed a deal with Germany’s Mercedes-Benz to supply tires for the carmaker’s flagship luxury sedan, the New S-Class. Following previous deals with Audi in 2006 and BMW in 2011, the company now provides tire products to all of the so-called German “big three” for the first time as a Korean tire maker. “We would cover about 10 to 15 percent of the total S-Class production,” said president Cho Hyun-sik at a press conference held at a Seoul hotel on Mon
IndustrySept. 2, 2013