Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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Korean firms target EV charging market in US
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Seoul shares close flat on key rate freeze
South Korean stocks closed almost flat on Thursday following the central bank's decision to freeze the key interest rates, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.40 points, or 0.12 percent, to 2,002.13. Trading volume was low at 320.7 million shares worth 4.01 trillion won (US$3.64 billion), with gainers outnumbering decliners 489 to 324."Local shares traded flat as investor sentiment was dented by the central
March 14, 2013
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Dwelling on past increases risk of inflammation
A study suggests that people who dwell on past events can increase the risk of inflammation.Researchers in Ohio University recruited 24 young women and asked them to make a speech in front of stoned-faced interviewers.After dividing the participants into two groups, they asked the first group to contemplate on their past memories while asking the second group to think about other things such as sailing in boats and browsing for groceries.Blood samples collected from the first group showed a high
TechnologyMarch 14, 2013
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The ‘20-20-20-20’ strategy keeps your eye healthy
U.S. vision health professionals recommended heavy computer users to follow the ‘20-20-20-20’ healthcare strategy to reduce eye strain. The strategy is designed to let people blink for 20 times in every 20 minutes and watch an object 20 feet away for 20 seconds. Office workers and game players often suffer from dry eyes, since they need to use computers for long hours.“Today’s offices are commonly cool and dry, which is nice and comfortable, except for the eyes. Blinking is nature’s way of keepi
TechnologyMarch 14, 2013
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Seoul shares down 0.82 pct in late-morning trade
South Korean stocks traded 0.82 percent lower late Thursday morning as foreigners and institutions scaled back their holdings, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) dropped16.45 points to 1,983.28 as of 11:20 a.m.Large caps were mixed. Market bellwether Samsung Electronics lost 1.31 percent, but chip giant SK hynix added 1.59 percent.The local currency ended at 1,101.65 won against the greenback as of 11:20 a.m., down 4.25 won from the previous close. (Yonhap News
March 14, 2013
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Google tosses Reader as house cleaning continues
Google said Wednesday it was tossing its Reader service and seven other products under a house cleaning campaign that has closed 70 of the Internet giant‘s features in the past two years.“These changes are never easy,” Google senior vice president of technical infrastructure Urs Holzle said in a blog post.“But by focusing our efforts, we can concentrate on building great products that really help in their lives.”Reader was launched in 2005 as a way for people to keep track of updates to favored
TechnologyMarch 14, 2013
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BOK maintains key rate at 2.75%
The Bank of Korea froze its key base rate at 2.75 percent on Thursday for the fifth consecutive month as indicators show that the U.S. and China, the country’s two biggest export destinations, are heading for a full recovery this year.The U.S. created a number of new jobs to push down its unemployment rate to a four-year low at 7.7 percent last month as its Federal Reserve reaffirmed that it will carry out its easy money policy until the job market improves, while China continued to show solid d
March 14, 2013
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Seoul shares turn lower after strong start
South Korean stocks turned lower after opening a tad higher Thursday, led by losses in blue-chip exporters amid a policy void due to stalled government reorganization, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) shed5.11 points, or 0.26 percent, to 1,994.62 in the first 15 minutes of trading. Tech heavyweight Samsung Electronics slipped 0.3 percent, with No. 1 steelmaker POSCO losing more than 1 percent. In contrast, telecom shares trended upwards, with top mobile carr
BusinessMarch 14, 2013
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S. Korean banks' foreign-currency loans dip in 2012
Foreign-currency loans extended by South Korean banks declined last year from a year earlier, as a stronger won helped borrowers repay their outstanding debts, the financial regulator said Thursday. The amount of foreign currency-denominated loans extended by local banks reached $29.93 billion in the January-December period of 2012, according to the Financial Supervisory Service (FSS). The figure has been on the decline since it hit $43.10 billion as of the end of 2008, the FSS said. From 2010,
March 14, 2013
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Government sells stake in CSA to Korean Airlines
The Czech prime minister says the government has approved a sale of a minority stake in the national carrier CSA to Korean Airlines.Petr Necas says Korean Airlines will get a 44-percent stake in CSA for (euro) 2.64 million ($3.45 million). Necas said Wednesday the move is ``a very important step that makes possible the development of CSA and Prague's international airport.''The Czech state owns a 95.7 percent stake in the airline. It has been seeking a strategic partner for the carrier after it
IndustryMarch 13, 2013
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Finance Ministry leans toward increase of cigarette prices
The Ministry of Strategy and Finance has been saddled with two contradictory tasks: boosting sagging private consumption and raising tobacco prices.Last year, financial policymakers were skeptical about a cigarette price hike pushed by the Health and Welfare Ministry. They cited possible negative effects on consumer prices and household consumption.Further, the Finance Ministry denied the rumors in January that policymakers are poised to raise cigarette prices or create a new tax on the products
March 13, 2013
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Korea’s weekly working hours fall to record low
Korea’s weekly working hours fell to a record low in 2012 as companies reduced operations and production to shed costs amid the economic slowdown.Companies with more than five workers had their employees work an average 41.4 hours a week last year, with average monthly working hours also falling below 180 hours for the first time since 1999 when Statistics Korea began compiling data, the statistics bureau and the Ministry of Employment and Labor said Wednesday.Korea’s monthly working hours avera
March 13, 2013
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[Newsmaker] Yongsan development plan hangs by a thread
The ambitious plan to redevelop Seoul’s Yongsan into a landmark international business district is heading toward collapse with its developer on the verge of bankruptcy, having defaulted on its business loan interest.In the worst-case scenario, the project failure may result in capital impairment of the state-run rail operator KORAIL and an unprecedented class action suits involving dozens of investor companies and thousands of victimized residents.Dream Hub announced its default status Wednesda
March 13, 2013
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Minister nominee stresses need for stimulus
President Park Geun-hye’s nominee for the Finance Ministry chief said Wednesday that the government needs to review diverse measures including fiscal and financial steps to stimulate the economy which remains in a “serious” condition.During a parliamentary confirmation hearing held in Seoul, Hyun Oh-seok also opposed raising tax rates in order to secure the necessary money for an expected increase in welfare spending during the five-year term of President Park.“I agree that the economy is facing
March 13, 2013
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LG, Kia bag top design awards
Korean big names LG and Kia swept this year’s Red Dot design award, considered one of the highest honors in the world of design.LG Electronics said Wednesday it received a total of 27 Red Dot awards, with its curved OLED TV winning the top honor “Best of the Best.” The company garnered 14 awards last year. LG’s curved OLED TV features the industry’s first ergonomically curved screen with vivid picture quality, creating a panorama effect for viewers. The new TV set also removes the problem of scr
IndustryMarch 13, 2013
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BJFEZ eyes top position in Northeast Asia
The Busan-Jinhae Free Economic Zone, which is to celebrate its ninth anniversary this month, is seeking to become the top global business and distribution hub in northeast Asia.Last year, the BJFEZ induced a total of $220 million in foreign investment, boosted by its growth in the port logistics and high-technology industry, officials said Wednesday.Its target for this year is to up the amount to $250 million and to evolve into a comprehensive special zone which embraces logistics, financial ser
March 13, 2013
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FTA boosts Korea’s exports, U.S. investment
Following is the second in a series of articles featuring the Korea-U.S. Free Trade Agreement which marks the first year after its effectuation on March 15, 2012. ― Ed.The Korea-U.S. FTA, initially launched amid worries and expectations, will mark its first anniversary this week. Following a supplemental negotiation in December 2010 ― where in exchange for delaying U.S. tariff eliminations on Korean auto exports for four years, Korea’s tariff phaseout on frozen pork imports and implementation of
March 13, 2013
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Shares up on tech gains
South Korean stocks ended 0.32 percent higher on Wednesday, buoyed by firm gains in major technology companies, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 6.39 points to 1,999.73. Trading volume was moderate at 347.4 million shares worth 3.42 trillion won ($2.12 billion), with gainers outnumbering decliners 444 to 350.“There’s optimism out there on global liquidity and economic data have also been supporting this,” said Wo
March 13, 2013
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Lotte Mart to launch car rental service
Lotte Mart Co., South Korea’s third-largest discount store chain, said Wednesday that it will start a car rental service this week in strategic partnership with CXC Motors, a local dealer of foreign cars.Lotte Mart will provide its car rental service at five stores including its Jamsil location in the southwestern part of Seoul and its online Lotte Mart Mall starting Thursday, the company said in a statement. The discount store chain will expand the number of stores that will provide the car ren
March 13, 2013
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NTS opens tax probe into GM Korea
South Korea’s tax agency has launched an investigation into GM Korea Co., the local unit of U.S. General Motors Co., a company official said Wednesday.The GM Korea official claimed the probe by the National Tax Service is a regular one following a similar investigation in 2008.“We will cooperate with the tax probe in good faith,” the official, noting that there were no unfair business practices and the tax agency imposed no additional taxes on GM Korea after the 2008 investigation.The tax agency
March 13, 2013
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LS C&S to enter S. American undersea cable market
LS Cable & System said Wednesday that it won a 200 billion won ($182 million) contract to supply 230kV extra- high-voltage undersea cables to Venezuela’s state-run power firm, Corpoelec, becoming the first Korean firm to enter the submarine cable market in South America.The company said the successful bid proved its capabilities as a general engineering company for submarine power cable systems. With the rising demand for electric power in South America boosting electric cable sales, LS C&S is e
March 13, 2013