Most Popular
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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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Key suspects grilled over alleged abuse of power in Marine death inquiry
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S. Korean children, teens grow taller, mature faster than before: study
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Woman dangling from power lines rescued by residents holding blanket
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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Uncertainties linger over Germany’s renewable energy transition
BERLIN ― The Fukushima nuclear disaster has affected the world’s nuclear energy policy for the past two years. Countries such as Germany have since undergone drastic changes in their nuclear energy policy in response to rising concerns over the safety of nuclear power plants. In May 2011, two months after the Fukushima nuclear accident, the German government immediately decided to shut down eight aged nuclear power plants. In July, Europe’s biggest economy announced that it would close its nine
IndustryMarch 18, 2013
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Should doctors listen to music while operating?
In last year’s smash hit TV series “Best Love,” the lead actor confirmed his love for a woman by recalling the melody he had heard during his surgery. A very romantic scene to watch, for sure. However, if it were your operation, would you allow your surgeon to enjoy listening to music while doing a very delicate operation?It’d be better to let them enjoy the music, as one recent study revealed that listening or humming to one’s favorite music helps doctors to work more effectively. The study, pu
TechnologyMarch 18, 2013
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Seoul shares down 0.92 pct on global risks
South Korean stocks closed 0.92 percent lower on Monday as investors sat on the sidelines due to economic risks from the eurozone and the United States, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) shed18.32 points to 1968.18. Trading volume was low at 265.2 million shares worth 3.83 trillion won (US$3.44 billion), with decliners outnumbering gainers 565 to 258."The decline came as the financial crisis of Cyprus weighed do
March 18, 2013
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Top 10 chaebol fill one-third of new auditor spots with ex-officials
South Korea's top 10 conglomerates plan to fill one-third of their new auditor positions with former bureaucrats and law enforcement officials, data showed Monday, a move that critics claim is meant to take advantage of their personal connections for corporate benefits.A total of 66 companies affiliated with the country's family-controlled conglomerates, known as chaebol, have either selected or plan to select 81 new finance managers through an annual general meeting of shareholders, according t
BusinessMarch 18, 2013
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Music practice helps brain development
MONTREAL -- Musical training before the age of 7 has a significant effect on the parts of the brain involved with planning and motor abilities, Canadian researchers say.Virginia Penhune of Concordia University and her students Ph.D. candidates Christopher J. Steele and Jennifer A. Bailey, in collaboration with Robert J. Zatorre of the Montreal Neurological Institute and Hospital at McGill University tested 36 adult musicians on a movement task, and scanned their brains.The study, published in th
TechnologyMarch 18, 2013
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Seoul shares down 0.44 pct in late-morning trade
South Korean stocks traded 0.44 percent lower late Monday morning due to losses in techs and logistics, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) dropped8.76 points to 1,977.74 as of 11:20 a.m.Tech blue chips led the decline, with market behemoth Samsung Electronics falling 2.43 percent and top flat panel manufacturer LG Display losing 0.16 percent. Leading plasma display panel maker Samsung SDI shed 0.71 percent.Logistics shares also traded lower, with Hyundai Glovis
BusinessMarch 18, 2013
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Doctors challenged by patient discussions
The U.S. doctor-patient conversation is tougher for physicians with today‘s more informed, more proactive and more in-control patients, researchers say.Al Topin, president of Topin & Associates, who conducted the study, said he found the age-old, doctor-patient relationship has been changing dramatically.“Specialists find themselves answering more questions, countering misleading information patients find online and even justifying their treatment recommendations,” Topin said in a statement.“The
TechnologyMarch 18, 2013
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S. Korea's producer price growth picks up in Feb.
South Korea's producer prices grew at a faster pace in February than the previous month as oil prices picked up and the local currency depreciated to the dollar, the central bank said Monday.The producer price index, a barometer of future consumer inflation, grew 0.7 percent in February from the previous month, after rising 0.2 percent on-month in January, according to the Bank of Korea (BOK).The data marked the fastest gain since a 0.7 percent on-month gain in February 2012.Last month, prices o
March 18, 2013
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Sales of Hyundai cars in U.S. up 2 pct in Feb.
South Korea's top automaker Hyundai Motor Co. sold 52,000 vehicles in the United States in February, up 2 percent from a year ago, industry data showed Monday. The data showed that Hyundai's market share in the U.S. remained unchanged at 4.4 percent.Hyundai's smaller sister company, Kia Motors Corp., sold 41,500 units in the U.S., down 8 percent from a year ago. Its market share stood at 3.5 percent last month, down 0.44 percentage points from a year earlier.Hyundai and Kia ranked seventh in ter
IndustryMarch 18, 2013
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Seoul shares open lower on U.S. losses
South Korean stocks got off to a weak start on Monday, tracking losses on Wall Street in the previous trading session, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell12.17 points, or 0.61 percent, to 1974.33 in the first 15 minutes of trading.Shares lost ground across the board, with market behemoth Samsung Electronics falling 2.3 percent and top auto parts maker Hyundai Mobis moving down 0.82 percent. Leading steelmaker POSCO decreased 0.15 percent.U.S. stocks ended l
BusinessMarch 18, 2013
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[Graphic News] Korea’s labor supply to peak in 2021
The nation’s working-age population is expected to fall after peaking in 2021, a state-run think tank said on Sunday.The nation’s labor force participation rate, an indicator for the size of the working-age population of an economy, is forecast to hit a record high of 61.6 percent before falling steadily, the Korea Development Institute said. It added the rate was likely to fall to the 50 percent range in 2030, which means Korea will face a shortage of labor. An aging population and low birth ra
March 17, 2013
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[Photo News] Ballantine’s limited edition
IndustryMarch 17, 2013
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Shares may trade in tight range this week
The South Korean stock market may trade in a narrow range this week, affected by a U.S. rate decision and overseas economic data, but it is not likely to face steep falls on global recovery hopes, analysts said.The benchmark Korea Composite Stock Price Index finished at 1,986.50 last week, down 0.97 percent from a week earlier.The KOSPI was weighed down this week by heightened geopolitical risks from North Korea’s nuclear threats and the yen’s weakness, decoupling from the bullish gain in the U.
March 17, 2013
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Nominee: M&A is alternative to Woori Finance privatization
The nominee to lead South Korea’s financial regulator has said that a merger and acquisition of state-owned Woori Finance Holdings Co. is an option to privatize the country’s top banking group by assets.Shin Je-yoon, President Park Geun-hye’s choice to lead the Financial Services Commission, said all investors should be allowed to place bids for Woori Finance and it would be better to quickly privatize financial firms that received public funds, according to a written answer to lawmakers as part
March 17, 2013
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Government to allocate W1tr to energy R&D
The government plans to invest 1.36 trillion won ($1.22 billion) in energy-related research and development this year, the Ministry of Knowledge Economy said Sunday. Targeted R&D projects for investments will include technology development, improving human resources, international cooperation, and standardization in the energy sector. Most of all, the ministry will allocate 700 billion won to technology R&D, while human resources and international cooperation projects will attract 40.3 billion w
March 17, 2013
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Rules may hurt local restaurants’ growth
Overseas business has been a dream for many Korean restaurant companies.They look up to global giants like McDonald’s or Yum! Brands, Inc., operator of Taco Bell, KFC and Pizza Hut, that rake in billions of dollars worldwide.Among Korean firms, CJ Foodville is a frontrunner with about 130 stores abroad including Bibigo and VIPS restaurants, Tous Les Jours bakeries and A Twosome Place cafes, mostly in China and Southeast Asia.But even CJ is just in the investment stage, and is still far from thri
IndustryMarch 17, 2013
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Hyundai ranks 4th in Brazil subcompact market
SAO PAULO (Yonhap News) ― Hyundai Motor Co., South Korea’s largest automaker, has maintained fourth place in subcompact passenger car sales in Brazil during the first two and half months of this year, the company said Sunday. Hyundai Motor, the world’s fifth largest automaker, has sold 6,124 units of the HB20 in the first half of March, a Hyundai spokesman said. The South Korean carmaker sold 10,179 units of the HB20 in Brazil in February alone, emerging as the fourth biggest seller in the subco
March 17, 2013
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Government to help farmers sell directly to consumers
The government will soon introduce an agricultural products distribution system that connects farmers directly to consumers to greatly reduce the prices of farm products, government officials said Sunday. The move comes as President Park Geun-hye early last week pledged to improve the agriculture distribution system to guarantee higher incomes for farmers and lower prices for consumers.Both producers and consumers have long been unhappy with the country’s complicated distribution system in which
March 17, 2013
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FSS to investigate ‘false’ leaks from KB Financial Group
Financial regulators pledged Sunday that they would take stern punitive measures against unidentified whistle-blowers at KB Financial Group, who leaked reportedly “skewed” insider information.One or more ranking figures of KB Financial have been suspected of spreading groundless allegations involving the financial group’s M&A strategies, said an official of the Financial Supervisory Service.A key unverified allegation is that “the financial group had to scrap its takeover bid for the Korean insu
March 17, 2013
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Financial firms brace for customer protection report
The Financial Supervisory Service plans to publicize its yearly assessment of about 70 financial firms’ consumer protection, involving cases of customers’ complaints and dispute arbitration, next month.Attention is being paid to whether Kiwoom Securities in the brokerage industry and Chartis in the nonlife insurance industry will be given the lowest grade of “class 5 (or poor)” for the 10th consecutive year.Between 2004 (for the 2003 assessment) and 2012 (for the 2011 assessment), the two financ
March 17, 2013