Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Pandemic left Korea more depressed than before: report
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Korean labor force to shrink by 10 million by 2044: report
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Gov't appears to shelve punitive measures against mass walkout by doctors
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Govt. asks hospitals to mitigate impact of medical professors' absence
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Allegations surrounding BTS resurface, enraged fans demand apology
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Samsung mocks Apple over iPhone alarm glitch
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S. Korea's working-age population to dip nearly 10m by 2044 amid low births
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S. Korea's domestic demand forecast to remain sluggish in H2: think tank
South Korea's domestic demand is expected to remain sluggish in the second half of the year due to stagnant economic growth, a private think tank said Tuesday.In its second-half outlook, the Hyundai Research Institute said that domestic consumption is likely to be very static in the July-December period, which could require stimulus measures to ensure the economy makes a soft landing.The think tank noted that a slump in consumption and investment, and worsening real purchasing power will dampen
July 3, 2012
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Sunken city near U.K. to be unveiled
(123rf)A U.K. news report said scientists on Tuesday will reveal Britain’s answer to the fabled sunken city of Atlantis.The story behind "Doggerland" -- a land that was slowly submerged by water between 18,000 B.C. and 5,500 B.C. -- will be unveiled at the annual Royal Society Summer Science Exhibition.Doggerland supposedly stretched from Northern Scotland across to Denmark and down the English Ch
TechnologyJuly 3, 2012
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DNA test identifies descendant of world’s first woman
A DNA test on a Scottish man revealed that he is directly related to the world’s first woman, British media reported Saturday.A 72-year-old retired lecturer, Ian Kinnaird, carries a genetic marker L1B1 that links him directly to “Eve,” the first-ever woman who is assumed to have lived in Africa about 190,000 years ago. Scientists believe that Kinnaird has maternally inherited mitochondrial DNA which is only two mutations removed from Eve, who was nicknamed after the first woman created by God in
TechnologyJuly 3, 2012
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Caffeine may reduce risk of skin cancer: report
Drinking more than two cups of coffee per day, or any other combination of caffeinated beverages, may lower the risk of developing skin cancer, according to a new report.The report in the journal Cancer Research found that caffeinated products including soda, tea and chocolate potentially reduced the risk of developing basal-cell carcinoma, a common form of skin cancer.“Our data indicate that the more caffeinated coffee you consume, the lower your risk of developing basal cell carcinoma,” said J
TechnologyJuly 3, 2012
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Evidence of ‘God particle’ found
(123rf)Physicists say they have all but proven that the “God particle” exists. They have a footprint and a shadow, and the only thing left is to see for themselves the elusive subatomic particle believed to give all matter in the universe size and shape.Scientists at the world's biggest atom smasher plan to announce Wednesday that they have nearly confirmed the primary plank of a theory that could
TechnologyJuly 3, 2012
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Seoul shares open higher on tech gains
South Korean stocks got off to a strong start on Tuesday as tech heavyweights, including Samsung Electronics, posted firm gains, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 13.86 points, or 0.75 percent, to 1,865.51 in the first 15 minutes of trading. Samsung Electronics climbed 1.02 percent after falling more than 2 percent in the previous session due to a U.S. co
July 3, 2012
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Kim stresses World Bank's role in 'pivotal' global economic situation
Dr. Jim Yong Kim, the new head of the World Bank, said Monday that his institution will endeavor to help boost prosperity and eradicate poverty worldwide.Meeting the press formally for the first time since the start of his five-year tenure, Kim said he assumed the presidency of the World Bank "at a pivotal moment for the global economy."He said the Washington-based organization is the "most import
July 3, 2012
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S. Korea's foreign reserves rebound in June
South Korea's foreign reserves rebounded in June from the previous month as investment profit gained and a weaker dollar raised the conversion value of non-dollar assets, the central bank said Tuesday.The country's foreign reserves reached $312.38 billion as of the end of June, up $1.51 billion from the previous month, according to the Bank of Korea (BOK).The foreign reserves in May retreated afte
July 3, 2012
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Korea’s 2013 budget request grows 6.5%
Korea’s government ministries and agencies requested a 6.5 percent hike in their budget for next year as they want to spend more on education, welfare and national defense, the Finance Ministry said Monday.The request made by 51 government ministries and state agencies seek to spend a combined 346.6 trillion won ($303.1 billion) for next year, compared with 325.4 trillion won in the 2012 budget, according to the ministry.The rise is attributed to a 10.1 percent increase in money being asked to s
July 2, 2012
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Pantech to unveil new smartphone
Pantech plans to release its new smartphones next week in a bid to sway consumers from Samsung Electronics’ Galaxy S3, which has been grabbing most of the spotlight in the global mobile markets.Using its trademark “Vega,” the smallest of Korea’s three mobile phone developers will introduce Vega S5 with 5-inch or hand-size display, allowing consumers to easily control the phone with just one hand instead of two.The letter “S” in Vega S5 refers to screen, style, strong, speed and special care, whi
TechnologyJuly 2, 2012
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Korea looks to balance its development
Relocation of public agencies, innovative cities lure people to the provincesThe following is the last in a series of articles on Sejong City, a new multifunctional administrative city that was launched on July 1, and other “innovative cities.” ― Ed. Public agencies are moving out of Seoul and its surrounding Gyeonggi Province to so-called “innovative cities” and other less crowded regions throughout the nation.The term innovative city refers to “future-oriented” towns in South Korea “establishe
IndustryJuly 2, 2012
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SKT, Kia forge marketing ties
SK Telecom has formed strategic marketing ties with Kia Motors for customers of both companies to enjoy greater cross-benefits.Korea’s biggest mobile carrier said that the partnership includes offering 4G Long Term Evolution smartphone users to receive a discount for the purchase and maintenance of Kia automobiles.For instance, SK Telecom’s LTE customers can get a discount of up to 200,000 won when buying a car from Korea’s second-largest automaker, the telecom company said.Both companies will i
July 2, 2012
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Nexus ban to have limited impact on Samsung: Goldman
HONG KONG (Yonhap News) ― The recent ban on the sales of one of Samsung Electronics Co.’s smartphones in the United States will likely have a limited impact on the South Korean tech giant, as the Galaxy Nexus smartphone is an older model, Goldman Sachs said Monday.Last Friday, a U.S. district court ruled that the Samsung Galaxy Nexus phone, an Android-based smartphone co-developed by Samsung Electronics and Google Inc., infringed on some of the patents belonging to iPhone maker Apple Inc., block
TechnologyJuly 2, 2012
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Kwon to head Samsung’s new display affiliate
Kwon Oh-hyun, vice chairman and CEO of Samsung Electronics, will head Samsung Display as the chief executive of the world’s largest display panel manufacturer.Officially launched on Monday, Samsung Display has been formed through mergers of Samsung Electronics’ LCD business division, Samsung Mobile Display and S-LCD. S-LCD was a joint venture between Samsung Electronics and Sony. Sony exited the joint venture last year. Samsung Mobile Display produces OLED panels for mobile devices.The newly est
TechnologyJuly 2, 2012
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Eurozone crisis dealing blow to Korean firms
A variety of economic indices show that Korean manufacturers are exposed to the eurozone fiscal crisis, whose negative impact on local major conglomerates’ production could be amplified in the latter half of the year.According to FnGuide, a provider of corporate financial statements, seven of the nation’s 10 major business groups are estimated to post a drop in their earnings for the first half of the year amid the eurozone woes and weak domestic demand.Its estimates suggested that the seven con
IndustryJuly 2, 2012
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Seoul shares slide 0.13%
South Korean stocks slipped 0.13 percent on Monday as renewed optimism over the eurozone debt crisis faded amid concerns over downbeat economic data and second-quarter earnings, analysts said. The local currency fell against the U.S. dollar.After opening higher, the benchmark Korea Composite Stock Price Index fell 2.36 points to close at 1,851.65, stemming a two-session winning streak. Trading volume was moderate at 265.1 million shares worth 3.41 trillion won ($2.98 billion), with gainers outnu
July 2, 2012
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Korea, Vietnam to announce start of FTA talks next week
Korea and Vietnam are expected to announce start of the negotiations for a bilateral free trade agreement next week in Hanoi, according to government sources.Trade Minister Bark Tae-ho plans to visit Hanoi to announce the beginning of FTA talks with his Vietnamese counterpart on July 13, the sources said. The Southeast Asian country’s rice, tropical fruits and fisheries are likely to be the most contentious issues in the FTA talks.Vietnam, which is the world’s largest exporter of rice along with
July 2, 2012
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Seoul bourse’s turnover hits all-time low in June
Korea’s main stock market saw its trading volume hit an all-time low in June on the worsening of the eurozone fiscal crisis and escalating concern over a global economic slump, market watchers said Monday.The daily turnover of the main board averaged 4.53 trillion won ($3.98 billion) last month, a mere 0.38 percent of the market capitalization, according to the bourse operator Korea Exchange and industry sources.June’s average daily turnover dropped to the lowest monthly level since the bourse o
July 2, 2012
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Korea mulls using Iranian oil tankers to resume crude imports
Korea is considering accepting Iran’s proposal to supply oil to Seoul using its own oil tankers, a government source said Monday, after oil imports from Tehran were halted due to the European Union’s ban on insuring Iranian oil shipments. Iran has proposed that South Korean oil refiners use Tehran’s own oil tankers, a move that would allow them to receive crude shipments without concerns over insurance guarantees, the source said on the condition of anonymity. “Korean oil refiners and the Irania
July 2, 2012
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Korea’s consumer inflation slows in June
Korea’s consumer prices grew at a slower pace in June amid the government’s push to tame inflationary pressure, a report showed Monday.According to the report by Statistics Korea, the country’s consumer price index rose 2.2 percent in June from a year earlier, slowing from a 2.5 percent gain in May. June’s reading marks the fourth month in a row that inflation stood in the 2 percent range and the lowest gain in 32 months after prices rose 2.0 percent on-year in October 2009.The so-called core in
July 2, 2012