Most Popular
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Korean industries gauge impact of Biden's steep tariffs on China
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OpenAI gives ChatGPT new powers to see, hear
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Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
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S. Korea to inject $70m into AI-powered public education
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[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
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Do Korean doctors make too much money?
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[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
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Rumors tip lighter, thinner Apple iPad
Apple is developing a thinner, lighter fifth-generation iPad sharing some design points with the recently released iPad Mini, a Japanese tech blog is reporting.The Macotakara site also said Apple‘s next iPad Mini would feature the high-resolution Retina display many had expected on the first version, CNET reported Monday.The rumored next full-size iPad is another case of the accelerated product life cycle Apple seems to be favoring; the fourth-generation model was released last month, just eight
TechnologyDec. 25, 2012
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Three major mobile carriers slapped with suspension, fines
The Korea Communications Commission decided Monday to slap business suspension penalties and fines on the nation’s three telecoms for having offered excessive subsidies to attract customers.The state telecom regulator agreed on Monday during a general meeting to penalize the three mobile carriers ― SK Telecom, KT and LG Uplus ― which gave out more financial subsidies to the customers than entitled by the law, despite the regulator’s continued warnings.Starting from Jan. 7, the business ban will
IndustryDec. 24, 2012
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Imports of Japanese sake, beer surge: data
Imports of Japanese rice wine sake increased 70 percent this year to a record-breaking level, according to the Korea Customs Service on Monday.Imported beer to Korea also amounted to $68 million, surpassing total local beer exports for the first time, KCS officials said.In data on trade of major liquors unveiled by the agency, total imports of whiskey, wine, beer and sake recorded a total of 115 million liters in January-November, up 15.3 percent fromlast year.With sake being widely recognized b
IndustryDec. 24, 2012
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Shares close almost flat on U.S. fiscal cliff woes
South Korean stocks closed almost flat Monday as investors took to the sidelines amid the prolonged concerns about the U.S. fiscal cliff, analysts said. The local currency inched up against the U.S. dollar.The benchmark Korea Composite Stock Price Index edged up 0.07 percent, or 1.40 points, to finish at 1,981.82. Trading volume was low at 343 million shares worth 3.2 trillion won ($2.98 billion) with gainers outstripping losers 398 to 391. “Local shares traded almost flat as the rising uncertai
Dec. 24, 2012
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Jin Air launches Incheon-Okinawa route
Jin Air Co., an affiliate of South Korea’s largest airline Korean Air Lines Co., said Monday it has launched a regular flight to the southern Japanese city of Okinawa.The debut service departed from Incheon International Airport, west of Seoul, at 10:35 a.m. on Monday and landed in Okinawa at 12:45 p.m.The carrier said it will offer daily morning flights connecting the two cities with the 180-seat B737-800 passenger jet.The latest move raised the number of routes operated by Jin Air to 12 destin
Dec. 24, 2012
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Hollys Coffee to open 100 shops in China by 2014
Hollys Coffee Co., a South Korean coffee shop chain, said Monday it will open 100 shops in China within the next two years as part of its efforts to expand its overseas business.Hollys Coffee said it has signed a franchise rights contract with Dongling Group to open a coffee shop in Shenzhen, southern China, in May next year. It is the third Hollys coffee shop in China and the first in collaboration with the Chinese firm.“We seek to open 100 shops in China in cooperation with Dongling Group by 2
Dec. 24, 2012
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Hyundai Rotem wins $855m in orders from Egypt, H.K.
Hyundai Rotem Co., a South Korean tank and train maker, said Monday that it has clinched a US$353 million order to supply railcars to Egypt.The order was placed by the National Authority for Tunnels, which is responsible for building metro systems and road tunnels in Egypt. The railcars will be delivered, beginning in early 2015, Hyundai Rotem said.The South Korean company also said it secured a separate $502 million deal to supply railcars to the government-owned Hong Kong Mass Transit Railway
Dec. 24, 2012
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Government debt nears W470tr under new accounting rules
South Korea’s government debt neared 470 trillion won ($437.2 billion) in 2011 under new accounting rules adopted to reflect international norms, government data showed Monday.According to the data offered by the finance ministry, South Korea’s ordinary government debt came to 468.6 trillion won last year. The ratio of the debt to the country’s gross domestic product stood at 37.9 percent.The figures were calculated on an accrual basis, different from the existing cash basis accounting rules und
Dec. 24, 2012
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Park to reorganize financial supervisory system
Following is the third in a series of articles on President-elect Park Geun-hye’s key policies. ― Ed.The nation’s top financial regulator and its decision-making panel are likely to undergo systematic reorganization under the incoming administration which emphasizes financial governance.President-elect Park Geun-hye has not directly commented on financial policies, but is known to be planning to split the Financial Supervisory Service into two separate units while adding more functions to the Fi
Dec. 24, 2012
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Newborns on rise as more tie the knot
The number of newborns in October has risen for the sixth straight month on the back of more marriages in the year of the Golden Pig, according to government figures on Monday. Statistics Korea said that in that month, the birth of newborns rose by 9.1 percent from the same period last year to reach 41,900 babies born. The clip was the largest since January 2011, when the number grew by 10.8 percent on-year.“The so-called ‘Echo Boom Generation,’ indicating the generation born to the baby boomers
Dec. 24, 2012
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Hyundai-Kia on road to world’s No. 4
Hyundai Motor, including its affiliate Kia Motors, is closely vying with Renault Group for fourth place in yearly global auto sales.While Hyundai-Kia ranked fifth in 2010 and 2011 in global vehicle sales, auto industry insiders raised the possibility on Monday that the Korean automotive group would overtake Renault-Nissan Alliance, the long-standing No. 4 player, this year.Their prediction is based on the sluggish sales of Paris-based Renault, which suffered a drop of about 20 percent in the wak
IndustryDec. 24, 2012
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Foreign banks cut benefits for credit cards
Credit cards issued by foreign banks are expected to lose many benefits they used to offer customers, industry sources and banks said this week. Standard Chartered Korea and Citibank, two of the top foreign banks in Korea, said they would be reducing credit card benefits by up to 50 percent starting next year. The reduced benefits will be mostly in the form of exempting fewer customers from membership fees and offering fewer discounts or card points. The move comes on the heels of the local cred
IndustryDec. 24, 2012
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ING Life Korea workers to end strike
Unionized workers of ING Life Korea were to put an end to their near five-month strike later on Monday as KB Financial Group Inc., South Korea’s No. 2 banking group, withdrew its plan to acquire the local unit of ING Group, sources said.ING Life Korea workers started an indefinite strike in July, calling for better working conditions, which include job guarantees after a possible acquisition.The end came as the board of KB Financial Group turned down a company plan to take over the local life in
Dec. 24, 2012
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KOGAS sees best share gains of 2012: Daeshin Securities
Korea Gas Corp., the state-run natural gas importer and supplier, had the best-performing stock of the year, according to a report by Daeshin Securities on Monday. In a survey of stock gains between Jan. 2 and Dec. 18 on the top 100 stocks by market value, shares of KOGAS, the world’s largest liquefied natural gas importer, gained the most, rising 82.3 percent. Shares of Amore Pacific, the nation’s largest cosmetics brand, and Orion, the second-largest confectionery company in Korea, followed, u
IndustryDec. 24, 2012
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Gyeonggi service helps foreign capital find its niche
The following is the third article in a series featuring support and networking systems for foreign-owned businesses in Korea. ― Ed.When Gyeonggi Province opened up its first industrial complexes in the early 1990s for production centers owned by foreign companies, it looked forward to a boom in employment opportunities for local residents, an inflow of foreign investment and a boost to the provincial economy’s growth.What it didn’t anticipate, however, was the myriad of unique logistical, labor
Dec. 24, 2012
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Study: Hawaiian island slowly dissolving
The mountains on Oahu in the Hawaiian Islands are dissolving from within under the slow but inexorable onslaught of groundwater, researchers say.Sometime in the distant future the mountainous tropical island will be reduced to a flat, low-lying island similar to Midway, scientists at Brigham Young University reported Friday.While external erosion is the primary force that wears down mountains, that's not the case on Oahu, they said."We tried to figure out how fast the island is going away and wh
TechnologyDec. 24, 2012
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Chinese manufacturers sell Apple knockoff cables at bargain price
Chinese companies are competitively releasing cheap replicas of the Lightning Cable, which is exclusively designed for Apple’s new devices including the iPhone 5 and iPad mini.The Korea Herald confirmed on Monday that multiple Chinese online shopping malls are offering duplicated 8-pin Lightning Cables for about only $2 each, compared to Apple’s original Lightning Cables at $19 per unit.The discount is steeper if the cables are bought by wholesale outlets. Through Alibaba, one of the biggest onl
TechnologyDec. 24, 2012
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Expanding waistlines may be due to alcohol
Those who can‘t lose weight despite exercising and cutting back on high-calorie food may be drinking too many calories from beverages, a U.S. dietitian says.Kari Kooi, a registered dietitian at The Methodist Hospital in Houston, said the empty calories from alcohol can add up fast, and alcohol lowers inhibitions, meaning resistance to high-calorie foods becomes futile.“Reduce or cut out alcohol consumption,” Kooi said in a statement. “Increased alcohol consumption will lead to unwanted pounds an
TechnologyDec. 24, 2012
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S. Korea's gov't debt nears 470 trillion won under new accounting rules
South Korea's government debt neared 470 trillion won (US$437.2 billion) in 2011 under new accounting rules adopted to reflect international norms, government data showed Monday.According to the data offered by the finance ministry, South Korea's ordinary government debt came to 468.6 trillion won last year. The ratio of the debt to the country's gross domestic product stood at 37.9 percent.The figures were calculated on an accrual basis, different from the existing cash basis accounting rules u
Dec. 24, 2012
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Revealed: The mystery of Rudolph‘s nose
Rudolph the Red-Nosed Reindeer‘s snout has been immortalised in movies, books and song. But until now, no-one has offered a scientific explanation for the glow that allows the world’s most famous antlered herbivore to guide Santa‘s sleigh through the night before Christmas.In a study released Monday, researchers in the Netherlands and Norway used a hand-held microscope to examine the nasal lining of five healthy humans, two reindeer and a sixth person with a non-cancerous nasal growth.Reindeer n
TechnologyDec. 24, 2012