Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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Yoon rebuffs opposition's call for special probe into wife
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Stray Kids hit with racism in Met Gala photo line
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[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
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Yoon apologizes for wife's 'unwise conduct'
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Yuhan launches genetic analysis service
Yuhan Corporation, a Seoul-based pharmaceutical company, said Tuesday that it had launched a genetic information analysis service that tracks down personal genetic risks for certain diseases and disorders.In a joint venture with Theragen Etex, a local biotech firm specializing in genetic code analysis, Yuhan introduced “Hello Gene” that tests personal genetic information with just a few drops of blood, the company said. The service interprets one’s genetic information within a week or two and pr
TechnologyJan. 29, 2013
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IBs predict gradual pickup in Korean economy
The Korean economy will gradually regain momentum as the global economic recovers, the Korean Center for International Finance said in a research report released on Monday.Citing Goldman Sachs, the KCIF stated that the incoming administration’s stimulus plans along with a positive outlook on China’s economic growth will enable the domestic economy to keep building momentum for recovery, despite lowered expectations over the nation’s economic growth.Goldman Sachs cut Korea’s expected economic gro
Jan. 29, 2013
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Samsung takes over U.S. medical equipment firm
South Korean tech giant Samsung Electronics Co. said Tuesday it has acquired a U.S. medical equipment firm as part of efforts to bolster its healthcare business.Samsung Electronics America acquired NeuroLogica, a leading computed tomography company headquartered in Danvers, Massachusetts, the company said in a press release. Financial terms of the deal were not disclosed.Samsung’s U.S. unit will control the U.S. medical equipment maker, which develops medical imaging products and portable CT sca
IndustryJan. 29, 2013
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FSS reviews irregularities of former Shinhan Financial chief
The nation’s financial regulator is looking into the allegation that former Shinhan Financial Group chairman Ra Eung-chan had illicitly used more borrowed-name bank accounts than were revealed about two years ago.“We are reviewing documents to verify whether the allegation is true,” an official of the Financial Supervisory Service said Tuesday.But he said the FSS has yet to decide whether to launch a re-investigation into Ra’s irregularities, after he was already reprimanded by the regulator for
Jan. 29, 2013
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FTC needs to launch task force on chaebol: chief
SEJONG (Yonhap News) ― South Korea’s antitrust watchdog needs to launch an organization focused exclusively on tackling problems caused by excessive concentration of power and market influence in large conglomerates, its head said Tuesday.“In order to tackle problems related to large business groups, which is crucial to economic democratization, we need to create an organization that will exclusively take the lead (on the issue),” Fair Trade Commission chairman Kim Dong-soo told reporters during
Jan. 29, 2013
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POSCO steel posts $2.6b in 2012 operating profit
Sales and operating profits of POSCO, the world’s fifth-largest steelmaker by output, fell in 2012 from the previous year, but outperformed rivals in profit margin on sales, the company said Tuesday.Sales of POSCO Group’s steel business in 2012 dropped 9 percent to 35.7 trillion won ($33 billion) on-year. Operating profit from the steel business plunged 35.6 percent to 2.8 trillion won ($2.6 billion) in the same period. The sharp fall in operating profit resulted from the impact of the global st
IndustryJan. 29, 2013
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KEPCO head picked as chief organizer for energy congress
Korea Electric Power Corp. CEO Cho Hwan-eik was named Tuesday as the new chairman of the organizing committee for the 22nd World Energy Congress to be held in Daegu between Oct. 13 and 17, 2013.The post had been led by acting chairman Kim Young-hoon, chairman of Daesung Group, since November last year, following the resignation of former KEPCO CEO Kim Joong-kyum. Cho said the organizing committee will prepare for the event as a festival for all participants. The 2013 WEC in Daegu, the world’s la
Jan. 29, 2013
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Citroen DS5, ‘Car of president’ arrives
PSA Peugeot Citroen launched the Citroen DS5 in Seoul on Tuesday, renewing its commitment to the Korean market and its official importer Hanbul Motors that has been struggling from sluggish car sales amid the strong presence of German carmakers. The DS5 crossover sedan, launched in late 2011, is the high-end model for Citroen’s DS line that used to only consist of the DS3 and DS4 compacts. The car became known after it was offered to French President Francois Hollande for his inauguration ceremo
IndustryJan. 29, 2013
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Caffebene out as Lotte eyes drugs business
The drug and cosmetics store landscape is expected to undergo major changes as some players are pulling out of the show and others eye the market.Caffebene, which has made a name for itself as a homegrown caf chain, appears to be ready to call it quits in the drug and cosmetics industry, only five months since its entry with a store called December 24. The first December 24 shop opened in Gangnam Station has already been shuttered, while its second shop, located at Sadang Station, is also to clo
IndustryJan. 29, 2013
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Weak yen woes to sap Korean profitability
Japan’s weak yen policy may be good news for Japanese companies seeking export breakthroughs, but it is gradually becoming a nightmare for Korean companies directly competing with their Japanese peers overseas.Automobiles and tech consumer products are two sectors in which Koreans will face tough competition with Japan, and a weak yen is forcing Korean exporters to revise down their sales and profit forecasts this year.More than 80 of the 113 listed companies have revised down their target for o
Jan. 29, 2013
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State-run oil firm KNOC to boost local SMEs
The state-run Korea National Oil Corp. presented on Monday its future business vision to help small and medium-sized oil companies reinforce their international competitiveness.“Our vision is to achieve a global oil company that embraces small-scale companies,” said KNOC president and CEO Suh Moon-kyu.“These efforts will contribute to boosting small and medium-sized oil business units here.”To realize such a goal, the company suggested three major slogans ― reinforcing the competitiveness of sma
Jan. 29, 2013
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‘Korea’s economy is doing well, despite skepticism’
Overall outlooks on the nation’s economy for this year are negative as the Bank of Korea predicted lower growth and local industries are concerned about a protracted business slowdown.It is, however, such pessimism that discourages and aggravates the economy, not the other way around, according to an economist.“Negativism in economics has a self-fulfilling power,” said Choi Yong-sik, chief of the Turning Age Economic Research Institute, in an interview with The Korea Herald. “Our country’s econo
Jan. 29, 2013
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KOMIPO helps build schools in Indonesia
KOMIPO has developed social responsibility activities to generate happiness when it goes abroad. “Power is a necessity for life of people, and without it people cannot be happy. Generating happiness is tied to our core business,” KOMIPO CEO Choi Pyeong-rak said.When KOMIPO goes abroad, the company seeks out such activities to deliver its corporate value to local people as part of its global corporate citizenship program. Following a series of discussions, the power generation company developed e
Jan. 29, 2013
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KOMIPO expands overseas power plant projects
This is the second in a series of case studies on the nation’s leading state-run companies which have made success stories overseas. ― Ed.The Korea Midland Power Co., or KOMIPO, has big plans, seeking to emerge as a global brand for power generation by 2020.“I am confident that the successful launch of a power plant in the fast-growing Indonesian power generation market last year will lay the foundations for the company’s drive for overseas expansion,” KOMIPO CEO Choi Pyeong-rak told The Korea H
Jan. 29, 2013
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Peugeot-Citroen importer pounds German rivals
The president of Hanbul Motors, the Korean importer of Peugeot and Citroen brands, on Tuesday harshly criticized the heated dealer competition among import carmakers, especially the top sellers BMW and Mercedes-Benz.“Strong sales would satisfy their foreign headquarters. But their excessive sales activities are led to consumer damages,” Hanbul Motors president Song Seung-cheol said when asked about the French carmaker’s sluggish sales in Korea during the launching event of the Citroen DS5. “Almo
IndustryJan. 29, 2013
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Adults spend 5 years worrying: study
People spend several years of their life worrying about all sorts of things, which could lead to harmful health effects, a British health group said. According to a survey conducted by Benenden Health, a British health organization, adults spend five years of their life on average worrying about day-to-day issues. Adults’ concerns usually involve weight problems, finances and job security. Being overweight, getting old, having a lack of savings and staying fit were the top four worries on the li
TechnologyJan. 29, 2013
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Vine video porn posts exposed
Twitter's iPhone video-snippet sharing service Vine had concerns about porn exposed on Monday after adult content was bared briefly in an "Editor's Picks" section.Twitter apologized for the mistake, blaming "human error" but providing little detail, and quickly removed the video.The globally popular one-to-many message sharing service last week launched Vine, a service that lets people share video snippets from iPhones or iPod touch devices.Perpetually looping video clips up to six seconds each
TechnologyJan. 29, 2013
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POSCO's net profit dips 36 pct in 2012
POSCO, South Korea's leading steelmaker, said Tuesday that its earnings sank 36 percent last year from a year earlier on weak demand and increased costs.Net profit reached 2.39 trillion won (US$2.17 billion) on a consolidated basis last year, compared with a profit of 3.71 billion won a year earlier, the company said.Sales slipped 7.7 percent on-year to 63.6 trillion won, and operating income also dropped 33.2 percent to 3.65 trillion won over the cited period, it said.Shares of POSCO closed at
Jan. 29, 2013
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Seoul shares up 0.84 pct on tech, auto gains
South Korean stocks ended 0.84 percent higher on Tuesday, as automakers and technology firms rebounded from their recent slides, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 16.25 points to 1,955.96, snapping four straight sessions of losses. Trading volume was moderate at 459 million shares worth 4.57 trillion won (US$4.21 billion), with gainers outnumbering decliners 440 to 350. "The KOSPI's recent drops stoked i
Jan. 29, 2013
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Smoking addiction linked to brain’s self-control
Smokers’ craving for cigarettes is directly linked to brain’s self-control circuitry, a study showed Monday.A research team studied the relationship between the changes in brain activities and the level of craving for a cigarette after participants watched a neutral video and a video of people smoking. Before the experiment, some respondents were told that smoking would be allowed after watching the video, while others were told to wait 4 hours to smoke after the experiment was over. Scanning th
TechnologyJan. 29, 2013