Most Popular
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Korea’s homegrown nanosatellite successfully launches into space
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Nicaragua shuts down Seoul embassy
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Seoul restarts aged nuclear reactor despite safety concerns
The government decided Monday to restart an aged nuclear reactor that recently underwent months-long scrutiny over its safety, amid looming signs of a power shortage due to a record heat wave.Operation of the Reactor-1 at Gori Nuclear Power Plant in Busan was resumed earlier in the day with the reactor expected to reach its full generation capacity on Friday, according to the Ministry of Knowledge Economy."We are relieved the Gori reactor was restarted," Knowledge Economy Minister Hong Suk-woo t
Aug. 6, 2012
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NASA rover lands on Mars after plummet
A photo of Mars sent by Curiosity rover moments after it landed on the planet. (NASA)In a show of technological wizardry, the robotic explorer Curiosity blazed through the pink skies of Mars, steering itself to a gentle landing inside a giant crater for the most ambitious dig yet into the red planet's past.A chorus of cheers and applause echoed through the NASA Jet Propulsion Laboratory on Sunday
TechnologyAug. 6, 2012
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Facebook App Center opens for Korean language users
Facebook has opened its App Center in Korean, two months after it began offering the service in English.People will be able to find popular mobile game apps like FarmVille, Ninja Showdown and SimCity Social through the Facebook app store established for Korean users, its officials said.The mobile applications listed on the App Center have been chosen through the evaluations of its users and there are over 130 games that are played by Facebook users, which number up to 250 million people worldwid
IndustryAug. 5, 2012
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Samsung set to release Galaxy Note 10.1 in U.S.
Tech giant Samsung Electronics may release its Android tablet PC, Galaxy Note 10.1, in U.S. markets in the middle of this month.The speculation came after American tech and electronics website CNET unveiled a recent press invitation issued by Samsung Electronics at New York’s Lincoln Center on Aug. 15.In the invitation, the main graphic outlines a product that closely matches the specifications of the company’s 10.1-inch Android tablet PC, CNET reported.Free-style doodles on the invitation also
TechnologyAug. 5, 2012
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Kakao’s voice service to face resistance from carriers
Kakao officially rolls out mobile ‘Voice Talk’ service in KoreaThe debate surrounding free mobile Internet calls is expected to escalate after Kakao officially launched the service in Korea last week.On Thursday, Kakao said it rolled out its mobile Voice over Internet Protocol service called “Voice Talk,” putting an end to its beta test which began early June.“The launching of the Voice Talk service was an inevitable decision to better communicate with our loving friends,” the company officials
IndustryAug. 5, 2012
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Coffee chains’ inconsistency makes dietary data useless
The Korea Consumer Agency released research data on Sunday on the amounts of different ingredients in coffee served in Korea, claiming cafes’ products are deceptive in volume, caffeine content and calories. The nation’s leading customer advocacy group said that despite high prices of coffee ― ranging from 3,000 won ($2.65) to 5,000 won ― the fast-growing industry offers insufficient information needed for customers to make their choices. The ten coffeehouse chains targeted in the study are nine
IndustryAug. 5, 2012
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Judge denies Apple’s bid for Samsung sanctions
A federal judge on Friday denied Apple Inc.’s demands for an immediate victory in a multibillion-dollar patent trial. Apple sought the long-shot bid as punishment for Samsung Electronics Inc.’s decision to issue a controversial press release on the first day of testimony.The San Jose Mercury News reported Friday that U.S. District Judge Lucy Koh denied Apple’s request after polling the nine jurors to determine if they read media accounts based on the news release. All said they’ve abided by the
TechnologyAug. 5, 2012
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1 in 4 listed firms in earnings shock: report
Korean companies suffer deficit or drop in Q2 earnings amid eurozone crisisHalf of the listed companies in South Korea that have reported second quarter earnings marked a deficit or decrease, according to a report released Sunday. About a quarter of firms seriously underperformed expectations. Among 69 companies that announced second-quarter earnings as of Friday, five marked a deficit and 29 reported a drop in operating profit, said Fn Guide, online stock information provider. Most of those who
Aug. 5, 2012
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Shares to follow eurozone developments in tight range
South Korean stocks will likely move within a tight range next week as they will continue to be influenced by the eurozone economic woes, local analysts said Saturday.The country’s key stock index, the Korea Composite Stock Price Index, closed at 1,848.68, up 1.06 percent or 19.52 points higher from a week earlier.Foreign and institutional investors scooped up a net 1.53 trillion won ($1.35 billion) worth of shares with individuals offloading a net 1.95 trillion won worth of shares.The KOSPI onc
Aug. 5, 2012
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Low-income households have higher default risks: report
The ratio of “debt-risk” households among low-income brackets are significantly higher than the national average, a report showed Sunday, confirming that poor families are more vulnerable to worsening economic and financial conditions.According to the report by the state-run Korea Development Institute, the ratio of households deemed to have insufficient ability to pay back their debt among the nation’s poorest 20 percent is about four times higher than the average.The amount of the poor househo
TechnologyAug. 5, 2012
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Rice-growing households shrink
The number of rice growing households in South Korea fell 3.5 percent on-year in 2011, affected by declining demand for rice in the daily diets of its people, a report showed Sunday.Rice growing households totaled about 750,000 last year, down from 777,000 a year earlier, according to the report by the farm ministry. It is down 30.4 percent from 1.08 million tallied in 2000.The decline is attributable to less demand for rice among Korean citizens who tend to replace the staple crop in their diet
Aug. 5, 2012
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Sales rise for online oil products
Online market transactions on imported petroleum products have rapidly increased due to the government’s tariff-lifting policy and other measures.The Ministry of Knowledge Economy lifted the 3-percent tariff on imported petroleum goods that are traded online in July 2012, three months after launching the online trade of imported oil goods on March 30. According to the ministry, the new tax policy boosted the average volume of daily trade of these goods by over eight-fold from April to July.The a
Aug. 5, 2012
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Market uncertainties prompt flight to safer assets
A growing number of South Korean investors are fleeing to safer assets as a safe haven from the uncertainties of the global economic slowdown, industry sources said Sunday. The outstanding value of term deposits at five local lenders reached 418 trillion won ($368.7 billion) as of the end of July, up 15 trillion won from 403 trillion won tallied in December 2011, according to financial sources. The corresponding figure for household debts, however, grew a mere 0.78 percent to 2.4 trillion won in
Aug. 5, 2012
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Yeonggwang nuke plant restarts after shutdown
A nuclear power plant in Yeonggwang, South Jeolla Province, resumed operations on Sunday, six days after the plant came to a halt due to technical malfunctions. The Korea Hydro and Nuclear Power Co. announced that the Yeonggwang-6 nuclear power plant went back into operation at 8:40 a.m., following the official inspection and approval from the Nuclear Safety and Security Commission the day before. The Yeonggwang-6 unit is expected to reach its normal power-generating capacity by midnight on Mond
Aug. 5, 2012
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NPS’ direct investment profits 3.48%
National Pension Service outperforms assets managers on profitsDirect investments made by the National Pension Service are marking steady profits in the fluctuating stock market, according to NPS officials. The accumulative profit rate of the service’s direct investment in local stocks marked 3.48 percent for the five first months of the year, they said. The figure is far higher than the profit rate of the KOSPI, which marked 0.97 percent. Direct investment in the KOSPI made by the NPS was more
Aug. 5, 2012
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Toyota raises sales plan as quarterly profit zooms
TOKYO (AP) ― Toyota raised its sales target for this year to a record 9.76 million vehicles and reported a strong recovery in quarterly profit Friday, underlining its bounce back from a disaster plagued 2011.Toyota Motor Corp. said April-June profit zoomed to 290.3 billion yen ($3.7 billion) from 1.1 billion yen the year before. Its new sales target would represent a 23 percent increase from the 7.95 million vehicles sold in 2011, and is 180,000 vehicles more than Toyota’s last forecast in Febru
MobilityAug. 5, 2012
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VW completes purchase of Porsche
Volkswagen AG finalized the purchase of the Porsche auto business, ending a seven-year saga that saw VW turn the tables on the maker of the 911 sports car.VW paid the Porsche SE holding company 4.49 billion euros ($5.52 billion) and one common share for a 50.1 percent stake in Porsche AG, assuming full ownership of the brand, the Wolfsburg, Germany-based company said Wednesday in a statement.“The path is now finally clear for a bright future together,” Martin Winterkorn, chief executive officer
MobilityAug. 5, 2012
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Women driving import car market growth
Women seek foreign brand cars for style, performance, confidence boostAfter years of driving Korean cars, Chung Ji-eun, a 33-year-old businesswoman, recently purchased a Benz C-Class sedan for herself.“I used to enjoy shopping for European designers’ bags or shoes. But the satisfaction level with the Benz was the highest,” she said.“I like the luxury design and performance. But, above all, I feel more confident driving alongside the tough male drivers on the road.”The number of female drivers ha
MobilityAug. 5, 2012
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Man waits on hold for 15 hours
(123rf)An Australian man said he called the Qantas airline and waited for 15 hours, 40 minutes and 1 second before hanging up the phone.Andrew Kahn of Adelaide said he called Qantas at 7:22 p.m. Wednesday to confirm his travel arrangements and remained on hold until 11:01 a.m. Thursday while a recorded voice said an agent would speak to him "as soon as possible," the Sydney Morning Herald reported
IndustryAug. 5, 2012
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Low-income households face higher default risks on debts: report
The ratio of "debt-risk" households among low-income brackets are significantly higher than the national average, a report showed Sunday, confirming that poor families are more vulnerable to worsening economic and financial conditions.According to the report by the state-run Korea Development Institute, the ratio of households deemed to have insufficient ability to pay back their debt among the na
Aug. 5, 2012