Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Quitting smoking in 50s still improves health: study
A study suggested that people who quit smoking cigarettes in their 50s can still expect an improved health condition. Researchers at the cancer center in Germany conducted the 10-year study with 8,807 male and female participants aged between 50 and 74 years. The study was published in the latest issue of European Journal of Epidemiology.According to the research, the average risk of smokers dying of heart attack or stroke is twice as high as that of non-smokers. Former smokers also had a lower
TechnologyFeb. 25, 2013
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Woman sues Walmart over 2 cents, wins $100
A Pennsylvania woman was awarded $100 in damages from Walmart over a 2-cent disparity between an item’s tagged price and its scanned price.Murrysville District Judge Charles Conway sided with consumer activist Mary Bach of Murrysville, whose civil suit against Walmart claimed the company intentionally charged 2 cents more for Banquet “Brown ’N Serve” sausage than the price on the tag at the location near Delmont, the Pittsburgh Tribune-Review reported Monday.Conway awarded Bach, whose suit alleg
IndustryFeb. 25, 2013
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Smartphones to beat PCs in shipment value for 1st time: data
The value of worldwide shipments of smartphones are expected to dwarf that of PCs for the first time this year amid growing demand for mobile devices, data showed Monday.Global smartphone shipment value is forecast to reach US$239.6 billion this year, surpassing PC shipment value estimated at $218.6 billion, according to the data by market researcher Gartner Inc. and finance industry sources.If the estimated figures are on track, it will mark the first time smartphone shipments topped PC shipmen
IndustryFeb. 25, 2013
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Seoul shares open lower on U.S. concerns
South Korean stocks started lower Monday as investor sentiment was dented by rising concerns over the United States' sequestration, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.54 points, or 0.13 percent, to 2,016.35 in the first 15 minutes of trading.Shares lost ground across the board, with top chipmaker SK hynix moving down 1.14 percent and top flat panel manufacturer LG Display falling 0.49 percent. Top steelmaker POSCO lost 1.1 percent.Carmakers also traded l
Feb. 25, 2013
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Group urges boycott of Japanese products
A major civic group dedicated to protecting mom-and-pop stores with some 6 million members and dozens of other civic groups here vowed on Monday to boycott all Japanese-made products in protest of Tokyo’s latest territorial claims to Dokdo.The groups said they would boycott Japanese goods such as Mild Seven cigarettes, Asahi beer, Nikon cameras, Uniqlo clothes, Sony electronics, Toyota, Lexus and Honda cars, starting March 1.There have been anti-Japan boycotts led by civic groups in the past, bu
Feb. 25, 2013
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Regulator eases listing rules for foreign companies
South Korea’s financial regulator said Sunday it will ease rules for foreign companies wishing to be listed on the local bourse as part of a broader move to boost the stock market.The Financial Services Commission (FSC) will exempt overseas firms from listing evaluation if they meet certain criteria that qualifies them to be considered as blue-chip companies.Under the envisioned measures, candidates that have been listed for more than five years in offshore markets under an exchange agreement wi
Feb. 24, 2013
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New government to focus on financial consumer protection
South Korea ranked 52nd out of 55 countries on an assessment of the financial regulatory sector by the International Monetary Fund.Financial regulatory reform has been a constantly recurring issue since the 1997 Asian financial crisis. Pundits say Korea’s regulators have been relatively negligent in protecting financial consumers’ rights.The Park Geun-hye administration, which takes office on Monday, is considering spinning off the financial consumer protection division from the Financial Superv
Feb. 24, 2013
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Economic democratization overshadows inauguration
The corporate sector appeared to be wary of the inauguration of the Park Geun-hye government, which has pledged to crack down on irregularities by large companies.The sector’s apprehension was starkly illustrated in the low attendance for today’s inauguration ceremony.Lee Kun-hee, chairman of Samsung Electronics and unarguably the most prominent figure in corporate Korea, had said he would be absent from the occasion, as he would be away in Hawaii, where some of his family members reside. In his
Feb. 24, 2013
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4G phablets, China focus of mobile show
BARCELONA, Spain ― The annual Mobile World Congress kicked off here on Monday for a four-day run with about 1,500 handset makers and mobile carriers showcasing their latest smartphones and advanced mobile technologies.A number of Korean tech firms including LG Electronics, Samsung Electronics, SK Telecom and KT are taking part in the mobile trade show as they strive to expand their presence overseas.The theme of this year’s event is “New mobile horizon,” and it will be staged at the Fira Gran Vi
TechnologyFeb. 24, 2013
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SC Bank reels from penalties
Standard Chartered Bank Korea, the Korean operation of London-based Standard Chartered that spans more than 70 countries worldwide, has been struck by not one, but a series of blows by the nation’s financial authorities.The three state regulators ― the Financial Supervisory Service, the National Tax Service and the Financial Services Commission ― took turns squeezing the British Bank. On Friday, the FSC finalized its decision to impose a 17 million won ($16,000) fine on the bank for offering and
Feb. 24, 2013
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Shares to rise on hopes for new gov’t
South Korean stocks are expected to trade higher this week on the back of rising hopes for the country’s economy following the upcoming inauguration of President-elect Park Geun-hye, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed up 37.71 points, or 1.9 percent, to 2,018.89 on Friday from the previous week.Earlier last week, the KOSPI moved up as the investor sentiment was heightened by a G20 meeting of finance ministers and central bankers, where officials
Feb. 24, 2013
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Ssangyong E&C to seek debt workout
Ssangyong Engineering & Construction, beset by the housing market slump and a feud between its shareholder and creditor, is scheduled to file for a corporate workout process this week.The process refers to a company requesting its creditor banks for a payment delay or partial debt relief, in exchange for amending its financial structure.The nation’s No. 13 builder has a series of promissory notes and bonds amounting to 60 billion won ($55 million) whose maturity ends this Thursday, while facing
IndustryFeb. 24, 2013
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Volkswagen profit forecast falls short
Volkswagen AG, Europe’s largest automaker, forecast that 2013 operating profit will match last year’s level, falling short of analysts’ estimates, as the shrinking auto market in its home region weighs on earnings. Earnings before interest and taxes, which rose 2.1 percent to 11.5 billion euros ($15.2 billion) in 2012, probably won’t increase this year, Wolfsburg, Germany-based Volkswagen said Friday in a statement. The average estimate of 14 analysts surveyed by Bloomberg is for 2013 profit of
MobilityFeb. 24, 2013
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Imported cars have changed market landscape in Korea
Imported passenger cars have seen tremendous growth in South Korea over the last few years. In 2012 for instance, BMW Korea sold three times more cars than it did in 2009. However, contrary to other markets with similar or even higher growth rates, the total domestic market has been quite stable, with annual sales totaling around 1.2 million units. Don’t we forget there was a huge backlog with an exceptionally low segment share of imported vehicles of around 3 percent only a few years ago, where
MobilityFeb. 24, 2013
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China decade away from global carmaker: analyst
Chinese automakers are about a decade away from being globally competitive and will have to increase their spending on research and development to close the gap, according to Sanford C. Bernstein & Co. Carmakers such as General Motors Co., Volkswagen AG and Toyota Motor Corp. are outspending Chinese brands on research and development and lead in engineering, said Max Warburton, an auto analyst at Bernstein, which has a neutral rating on China’s auto industry. The Chinese have the will and money
MobilityFeb. 24, 2013
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It’s good to be challenger: Toyota Korea CEO
Korea is one of the few countries where Toyota Motor, the world’s largest carmaker, is not a dominant player. In a market where domestic brands Hyundai and Kia make up almost 80 percent of car sales, Toyota comes in fifth place among foreign brands, after the German carmakers; Toyota Korea’s market share stands at a tiny 1 percent. But Tommy Nakabayashi, CEO of Toyota Motor Korea, doesn’t complain about the unique business environment in Korea. Instead, he is willing to take on new challenges an
MobilityFeb. 24, 2013
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Woulfe to clinch deal for tungsten project in Korea
Woulfe Mining, a Canada-based mining company, is near finalizing a deal to invest some 300 billion won ($260 million) to finance the redevelopment of Sangdong tungsten mine in Yeongwol, Gangwon Province, said a source familiar with the situation.The investment would also include building a processing plant in the region, with Woulfe’s strategic partner TaeguTec securing a long-term supply of the rare metal materials used for the production of its special industrial tools.This could be the bigges
IndustryFeb. 24, 2013
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Sustinvest considers further ties with Sustainalytics
It has been nearly seven years since Sustinvest was established by CEO and founder Ryu Young-jae.Ryu now faces even bigger task of providing analytical information on the environmental, social and governance performance of listed companies as domestic pension funds seek to expand socially responsible investing.As its biggest client, the National Pension Service, which has become a “whale in a small pond,” seeks to increase stock investment for higher returns, Sustinvest will also need to boost i
IndustryFeb. 24, 2013
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Expert: Coffee mug on desk a germ machine
Reusing a coffee mug at the office is great for the environment, but a U.S. germ expert advises taking the mug home for dishwasher washing. Professor Charles P. Gerba of the University of Arizona's Department of Soil, Water and Environmental Science suggested when drinking a mug of coffee at the office, don't nurse the cup for longer than an hour or so. "Colonies of germs are living in your favorite cup. Twenty percent of office mugs carry fecal bacteria, and 90 percent are covered in oth
TechnologyFeb. 24, 2013
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Slowly cutting salt use would save lives
Slowly cutting back on U.S. salt consumption to achieve a 40 percent reduction would save 280,000 to 500,000 lives over 10 years, researchers say.Lead author Pamela Coxson, a mathematics specialist in the department of medicine at the University of California, San Francisco, and colleagues used computer simulations and models to project the effects of reducing salt intake by about 5 percent of a teaspoon of salt per day to lower Americans‘ average intake of 3,600 milligrams per day to about 2,20
TechnologyFeb. 24, 2013