Most Popular
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[KH Explains] Why Korea's so tough on short selling
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[Weekender] Geeks have never been so chic in Korea
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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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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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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Korea set to finalize medical school expansion plans
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Seoul City to open 'hotel' on river bridge
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LG’s Optimus G Pro sales hit 1 million mark in Korea
LG Electronics Inc., the world’s third-largest smartphone maker, said Tuesday that sales of its flagship smartphone, the Optimus G Pro, surpassed the 1 million mark nationwide in four months since its release. The phone is was fastest to reach the figure among its smartphone lineup.Sales of the Optimus G Pro broke 500,000 40 days after its launch, becoming LG Electronics’ fastest-selling smartphone.In May, the tech giant rolled out the smartphone in the U.S. and also released the full HD smartph
TechnologyJune 18, 2013
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Eximbank, Japan to spur joint overseas projects
The Export-Import Bank of Korea and its Japanese counterpart bank discussed ways to boost cooperation in joint overseas projects during a seminar in Tokyo on Tuesday, bank officials in Seoul said.The seminar was attended by Eximbank vice chairman Hong Young-pyo, the Japanese Bank for International Cooperation CEO Hiroshi Watanabe and some 130 bank officials and executives of plant constructors from the two countries.The participants discussed cooperative measures and shared information on overse
June 18, 2013
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Korea joins forces with FireEye to fight cyber crimes
The government-run Korea Internet Security Agency on Tuesday said it signed a memorandum of understanding with FireEye, a U.S.-based security company specializing in fighting cyber crimes, to help keep Korea’s Internet environment safer and free of attacks. “The two sides will be sharing solutions and other security information to jointly challenge cyber threats and malware that have become borderless crimes occurring all over the world,” said Lee Ki-joo, president of KISA. He stressed that it w
TechnologyJune 18, 2013
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Forecasting color trends in markets
For both consumers and product developers, color is important ― often more so than design or function of a particular product. Color can be used to express identity for consumers. From a developer’s perspective, however, “the right color can make sure products will sell better. Certainly in lifestyle products, color has the same function as in fashion,” said Filip Roscam, creative design manager of Merck’s Pigments and Cosmetics, in an interview with The Korea Herald on the sidelines of the nint
IndustryJune 18, 2013
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Zuckerberg asks Samsung for “Facebook phone”: sources
Mark Zuckerberg, one of the young cofounders of Facebook, on Tuesday met with Samsung Electronics executives including the heir Lee Jay-yong and mobile unit chief Shin Jong-kyun to ask Samsung to manufacture a “Facebook-friendly” phone, industry watchers said.“Facebook has every intention of becoming the second Google, and with that intent in mind, Zuckerberg is said to have asked Samsung to step up cooperation by launching a phone with a Facebook interface,” said one watcher, declining to be id
TechnologyJune 18, 2013
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Seoul shares up 0.93 pct amid policy uncertainties
South Korean stocks closed 0.93 percent higher Tuesday amid the divided outlook over the United States Federal Open Market Committee (FOMC) meeting slated for this week, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 17.52 points to close at 1,900.62. Trading volume was low at 275.3 million shares worth 3.38 trillion won (US$2.99 billion) with gainers outpacing losers 529 to 298. The index returned above the 1,900-
June 18, 2013
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Facebook CEO visits Cheong Wa Dae
Facebook cofounder and CEO Mark Zuckerberg made a visit to Cheong Wa Dae on Tuesday.Zuckerberg met with President Park Geun-hye at around 10 a.m. at the presidential office and exchanged opinions on how to help form a creative economy, the administration’s key initiative.Zuckerberg said that he hopes small Korean companies can enter the global market through Facebook‘s platform. The social network leader said that he will continue to invest in the Korean market.He will meet with executives at Sa
TechnologyJune 18, 2013
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Seoul shares trade flat in late-morning trade
South Korean stocks traded almost flat late Tuesday morning as investors continued to sit on the sidelines to await the results of the Federal Open Market Committee meeting scheduled this week, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) edged down 0.23 points, or 0.01 percent, to 1,882.87 as of 11:20 a.m. Logistics firms lost ground, with Hyundai Glovis decreasing 1.08 percent and Hyundai Merchant Marine falling 2.37 percent. Top air carrier Korean Air plunged 1.
June 18, 2013
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Seoul shares open flat on policy woes
South Korean stocks opened almost flat Tuesday as investors took to the sidelines ahead of the U.S.Federal Open Market Committee meeting slated this week, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved down 1.53 points, or 0.08 percent, to 1,881.57 in the first 15 minutes of trading.Mobile carriers lost ground, with leading SK Telecom falling 1.14 percent and KT losing 0.92 percent. LG Uplus, the smallest player, shed 1.16 percent.In contrast, tech blue chips traded
June 18, 2013
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Renault Samsung union goes on partial strike
BUSAN—Unionized workers at Renault Samsung Motors Co. went on a partial strike to demand higher wages, a company spokesman said Monday.Some workers downed tools for two hours earlier Monday while others plan to start the four-hour walkout from 7:45 p.m., Renault Samsung spokesman Koh Jae-yong said.Some 1,800 unionized workers already walked out for four hours earlier this month.The local unit of French automaker Renault SA said it has not been able to produce about 400 vehicles due to the partia
IndustryJune 17, 2013
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Korea to strengthen control over safety of imported food
Foreign food makers and local importers are expected to face tougher safety rules from 2015 as the government and some lawmakers are pushing for legislation to enhance the safety of imported food.A group of 12 lawmakers said on Monday that they would seek to mandate foreign food makers and local importers to register information of their food imports with the Ministry of Food and Drug Safety, Korea’s food watchdog.“We expect a special bill on safety management of imported food, which is pending
IndustryJune 17, 2013
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New rules let manufacturers own financial subsidiaries
Korea’s antitrust regulator will allow manufacturing-focused conglomerates to own financial subsidiaries such as insurance companies, but only if they reorganize their governance structures to transform into holding companies.In a policy and legislative briefing to the National Assembly’s National Policy Committee on Monday, the Fair Trade Commission said that chaebol, or family-run conglomerates, with a main interest in manufacturing would also have to establish separate intermediate holding co
IndustryJune 17, 2013
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[Graphic News] Average smartphone now less than $300
The average selling price of smartphones worldwide dropped below $300 for the first time, according to data released Monday by Strategy Analytics.The average price for a smartphone in the first quarter of this year marked $299, down from $342 and $333 in the same quarter in 2011 and 2012, respectively.Aside from the fourth quarters of 2011 and 2012, the average price has been on a downward trend since early 2011.The data suggested that increasing numbers of smartphone users in China, India, Braz
June 17, 2013
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[Power Korea] Incheon Airport seeks next big leap
Incheon International Airport was named again this year the “world’s best airport” by the Airports Council International ― for the eighth time in a row. Since the non-profit association of some 1,700 global airport operators started announcing the top honor back in 1993, the Korean airport is the only one that has enjoyed such success. Despite the growing presence of Asian rivals such as Singapore and China, Incheon outperformed them again in service quality, which is evaluated by users all thro
IndustryJune 17, 2013
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[Power Korea] Korea aims to export airport infrastructure
Hope that a Korean consortium, led by the Incheon International Airport Corp., could win the first deal to build an international airport overseas this month is rising as the government is developing a package of programs to support the deal.Backed up by its global brand power, the IIAC partially exported its know-how to Russia, the Philippines, Nepal, Cambodia and Indonesia, but has not yet exported a full package deal, which includes construction of an airport, terminals and operational system
June 17, 2013
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Insurers eye Asian pension markets
Global financial leaders shared the view during their gathering in Korea on Monday that the world’s biggest insurance firms are likely to vie for the Asian pension market in the coming years.There are substantial growth opportunities for insurers in the Asia-Pacific region, said some participants for the 49th annual seminar of the International Insurance Society, which kicked off Monday in Seoul.As the New York-based IIS suggested the reshaping the insurance industry “to capitalize on global tre
June 17, 2013
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Seoul set to enforce energy saving measures
Amid daily possibilities of a power shortage, the country will begin enforcing a set of measures this week aimed at reducing its use of electricity, the government said Monday.Starting Tuesday, all public offices will be required to maintain their indoor temperatures at 28 degrees Celsius or above, with all commercial buildings also required to keep their temperatures at 26 degrees or above, according to the Ministry of Trade, Industry and Energy.The move comes as the country was forced to shut
June 17, 2013
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Saudi Arabia studies Korea’s spatial information system
The Ministry of Land, Infrastructure and Transport is to share its expertise in spatial information management with the Saudi Arabian government.Civil servants of the Mecca city office will be visiting Korea this week to take educational sessions on spatial information technology, according to officials on Monday.During the two-day course, the ministry will give a presentation on how to computerize information on underground facilities and to run an information platform on spatial information.“T
June 17, 2013
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Gucci invites customers to ‘Artisan Corner’
Gucci on Monday said it will operate an “Artisan Corner” at four of its stores in Korea in an effort to reach out to the public. Between June 22 and July 5, the Italian luxury brand will invite its master artisans to the stores to demonstrate how Gucci’s top totes and bags, such as the New Jackie, New Bamboo, Soho and Emily, are produced. The demonstration will exactly replicate Gucci’s leather factory in Florence, Italy, the company said. The products made through this process will be put on sa
IndustryJune 17, 2013
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Korean entertainment market ranks 7th in world
The global market share of the Korean entertainment and media industry ranked seventh in the world last year, according to consulting firm PwC on Monday.Although Korea’s share stood at 2.8 percent of the world’s E&M industry with revenue of $45.1 billion, it is growing faster than those of the U.S. and Japan. Compared to the previous year, the Korean share increased 7.4 percent, while the average growth rate was 5.1 percent. Meanwhile, China and Brazil were the only countries that showed a faste
IndustryJune 17, 2013