Most Popular
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Korean industries gauge impact of Biden's steep tariffs on China
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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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OpenAI gives ChatGPT new powers to see, hear
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Do Korean doctors make too much money?
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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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Is FTC's conglomerate listing a boon or bane for Hybe?
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[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
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World Bank to open Seoul office next year
The World Bank said Monday that it will open its office in South Korea next year in order to deepen joint efforts between the two sides in finding development solutions for emerging countries.The Seoul government also agreed to launch a $90 million fund with the global lender to step up cooperation in supporting emerging countries for their development, according to heads of the two sides.The “Korea-World Bank Partnership Facility” will support a broad range of economic development opportunities
Oct. 15, 2012
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Shares drop 0.4% on global recession woes
South Korean stocks closed 0.4 percent lower Monday as investors’ sentiment was dampened by concerns over a global recession and persistent eurozone debt woes, analysts said. The local currency declined against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 7.67 points to 1,925.59. Trading volume was moderate at 554.9 million shares worth 4.49 trillion won ($4.04 billion), with losers outnumbering gainers 548 to 297.“There’s no big positive momentum to lead the index upward
Oct. 15, 2012
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Eximbank helps extend hallyu to South Sudan
The Export-Import Bank of Korea said it agreed to work together for cultural exchanges with South Sudan on Monday, as a biennial ministerial meeting for economic cooperation between Korea and African nations kicked off in Seoul.In a memorandum of understanding inked Monday, Eximbank and KBS agreed with the South Sudanese government delegation to provide the African country with Korean pop culture content such as television dramas, hoping to spread the “Korean Wave” across the continent.The MOU s
Oct. 15, 2012
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LG claims edge over Samsung on phone battery life
LG Electronics challenged its rival Samsung Electronics on Monday, claiming that the battery performance of its new flagship smartphone Optimus G surpasses the Galaxy S3.In a media briefing event introducing the new features of its latest Optimus Vu 2, LG emphasized the superiority of Optimus G’s high-capacity battery.According to an experiment conducted by LG, the Optimus G battery outperformed Samsung’s Galaxy S3 when talking on the phone and watching or filming videos. Both batteries have a r
IndustryOct. 15, 2012
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Korea orders firms to cut emissions by 17m tons
The Ministry of Knowledge Economy said Monday that it had told firms to reduce carbon emissions by a total of 17.2 million tons by the end of next year. The amount ― expressed in terms of tons of CO2 equivalent, or tCO2e ― is more than double the 8 million tCO2e target in 2012, when the ministry first set such targets. The steel, cement and petro-chemical industries are the three industries facing the largest greenhouse gas emission cut targets next year, making up 68 percent of the total. POSCO
Oct. 15, 2012
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KT looks to ‘design’ to give products identity
KT, the nation’s second-largest mobile carrier, said Monday that it would design its products with a signature style to maximize its brand power. The move comes after KT’s outer packaging for home mobile devices won the prestigious Red Dot Design Best of the Best Award 2012 in the productivity sector.The mobile carrier used the word “product identity” to explain how a product becomes a unique entity under the brand name KT. Citing Apple and different generations of iPod, KT chairman Lee Suk-chae
TechnologyOct. 15, 2012
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‘MOFIA’ keeps financial sector under thumb
Retired financial bureaucrats given lifelong privilege to lead public agencies, banks by noseIt is well known that former financial bureaucrats dominate top positions at Korea’s public financial institutions and banks controlled by public agencies.Recent history shows that only a fraction ― about 3 percent ― of former and incumbent chief executive officers at 11 public financial institutions and three “special” banks were chosen from the institutions’ ranks.Bureaucrats who built their careers an
Oct. 15, 2012
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Many likely not to survive tough outdoor fashion market
Competition heats up between foreign brands in outdoor sportswear marketMany outdoor brands lacking a clear brand identity will soon die out in South Korea, said Columbia Sportswear Korea CEO Cho Hyeong-rae at a press conference last week. “It will happen before 2015, regardless of the volume of their revenues, but depending on the public recognition of the brands. Now it will be all about developing new technologies and establishing a significant image,” said Cho. The outdoor market here has gr
IndustryOct. 15, 2012
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BNP Paribas Cardif Life Insurance to diversify output
BNP Paribas Cardif Life Insurance, the Korean subsidiary of BNP Paribas Cardif, the insurance arm of BNP Paribas, plans to diversify its sales channels and products here. It now plans to search for a mutually beneficial model that can benefit customers, partners and the company in terms of diversification rather than focusing merely on channel expansion, said officials at the press conference held last week in commemoration of the firm’s 10th anniversary in Korea. “Over the past decade, BNP Pari
IndustryOct. 15, 2012
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‘If Korean women like it, it’s a success’
Head of Estee Lauder’s local unit says Korean women have become more independent and adventurousKorea is a paradise for cosmetics, according to Herve Bouvier, the head of Estee Lauder Companies Korea, and a trendsetter for international cosmetic companies. “BB cream is an example. Started out in Korea, the products became a hot sale in the U.S. and Germany, and European and American global companies started to sell them,” the representative director and general manager of global cosmetics conglo
IndustryOct. 15, 2012
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Redface launches new TV commercial
The Redface, the nation’s first homegrown outdoor wear brand, unveiled last week its new television advertisement, which it said features a man overcoming a blizzard using its technology.The company said it has manufactured various outdoor wear products using the innovative water-proof material named “Contra-Tex” with its own technology.With its bold investment in research and development, the Redface aims at winning 160 billion won in sales this year after achieving its goal of 130 billion won
Oct. 15, 2012
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Gov’t building arson highlights dispute on ’evolution in textbooks’
An arsonist who torched a government office room and fell off a building to his death on Sunday had criticized the government in the past for “trying to remove the theory of evolution from textbooks,” highlighting a year-long feud between evolutionists and creationists in South Korea.The 61-year-old man, identified only by his surname Kim, claimed in his personal blog that the Education Ministry “had taken sides” with the Society for Textbook Revise, a group of mostly Christians which seeks to d
TechnologyOct. 15, 2012
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Scientists: Moon not bone dry
(123rf)The moon is covered with soil containing a water substructure created by the constant stream of charged particles coming from the sun, U.S. researchers say.The substructure, known as a hydroxyl, consists of one atom of hydrogen and one of oxygen, or OH, rather than two of hydrogen and one of oxygen, or H2O, the researchers from the University of Tennessee at Knoxville, University of Michiga
TechnologyOct. 15, 2012
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Apple to pay Swiss for copying clock
Apple's iOS 6 app on the left, the Swiss Federal Railways SBB clock on the right. (UPI)Apple, which has spent a fair amount of time in courts over copyright issues, says it will pay up rather than contest a claim it copied an iconic Swiss clock.Swiss railway operator SBB took the California company to task last month for allegedly copying its famously accurate rail station clocks for the design of
TechnologyOct. 15, 2012
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Moms-to-be stress linked to depression
NEW ORLEANS (UPI) -- Chronic stress during pregnancy prevents brain benefits of motherhood in rats, a finding that suggests a link to postpartum depression, U.S. researchers say.Lead author Benedetta Leuner of Ohio State University in Columbus said the study showed an increase of dendritic spines in new mothers‘ brains was associated with improved cognitive function on a task that requires behavio
TechnologyOct. 15, 2012
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Study: Brain reacts to unpleasant sounds
Increased activity between two separate parts of the brain explains why the sound of chalk on a blackboard is so unpleasant, British researchers say.Newcastle University scientists said the interaction between the region of the brain that processes sound, the auditory cortex, and the amygdala, which is active in the processing of negative emotions, is heightened when people hear unpleasant sounds.The amygdala modulates the response of the auditory cortex and the amplified activity provokes our n
TechnologyOct. 15, 2012
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World Bank to open office in S. Korea next year
The World Bank said Monday that it will open its office in South Korea next year in order to deepen joint efforts between the two sides in finding development solutions for emerging countries.The Seoul government also agreed to launch a $90 million fund with the global lender to step up cooperation in supporting emerging countries for their development, according to heads of the two sides.The "Kor
Oct. 15, 2012
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Local team identifies new step in RNA synthesis
A team of Seoul National University scientists discovered a previously unknown step in the process of producing a type of RNA molecule.The team, led by professor Kim V-narry of Seoul National University who is a well-known name in biochemical circles, discovered a new step in the process of producing a specific type of microRNA known as let-7. The findings were published in the online edition of the biological journal The Cell. In 2008 she was awarded the L’Oreal-UNESCO Women in Science Award, a
TechnologyOct. 14, 2012
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KEB wins banking award from finance magazine
Korea Exchange Bank was selected as the best emerging market bank in Korea by an international financial magazine on Saturday. Global Finance, a U.S.-based financial magazine, awarded KEB in the World’s Best Emerging Market Banks in Asia 2012’s Korea category at the awards ceremony held at the Foreign Correspondents’ Club in Tokyo, Japan. The magazine awards banks in different countries every year to time with the IMF/World Bank Annual Meeting. Global Finance gave highest points to KEB in the as
Oct. 14, 2012
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World Bank to open office in Korea
South Korea will sign a memorandum of understanding with the World Bank this week on the establishment of the global lending agency’s office in Seoul, the Finance Ministry said Sunday.The MOU will be signed between World Bank Group President Jim Yong Kim and Finance Minister Bahk Jae-wan during their breakfast meeting to be held in Seoul on Monday, the ministry said.Both sides will also ink a deal on the establishment of a bilateral cooperation fund and discuss ways to strengthen collaboration,
Oct. 14, 2012