Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Korean labor force to shrink by 10 million by 2044: report
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Pandemic left Korea more depressed than before: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Medical feud leaves hospitals in financial crisis
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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Govt. asks hospitals to mitigate impact of medical professors' absence
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For some, exercise can increase health risk
Exercise may increase heart risk for some, a study has found.Scientists analyzed data from six exercise studies including 1,687 people to find that close to 10 percent showed worse blood pressure, insulin levels, HDL cholesterol or triglycerides, all of which are related to heart disease.The direct cause, however, remains unknown.“It is bizarre,” said Claude Bouchard, lead author of the paper and a professor of genetics at Louisiana State University.Authors of the study also warned that the stud
TechnologyJune 1, 2012
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Baby bird found with 2 heads, 3 beaks
(UPI)A Massachusetts woman said she investigated bird sounds in her yard and discovered a baby cardinal with two heads and three beaks.April Britt of Northampton said she and her husband followed the sounds of squawking birds in their back yard to a tree where they discovered the baby female cardinal with the unusual deformities, WGGB-TV, Springfield, reported Thursday."My husband says, 'Oh my God
TechnologyJune 1, 2012
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Korea faced with W342tr pension liability
National debt is estimated to surpass 774 trillion won when it includes liabilities on pensions provided to former and incumbent civil servants and soldiers, according to a government report.Among the debt, pension liability turned out to be 342 trillion won. It takes into account a calculated amount of pension that should be given to civil servants, soldiers and current workers in their retirement. The figure grew 36 percent from last year and took up 27.6 percent of the GDP. The Finance Minist
May 31, 2012
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Google Korea faces stern antitrust sanction
The Fair Trade Commission investigated Google Korea this week by sending its inspectors to the headquarters, marking the fourth antitrust investigation including a raid last September.While the regulator’s raid on Google’s Korean unit in southern Seoul was the result of a joint-complaint by local Internet portals it is alleged the U.S.-based tech giant hindered the FTC from conducting an ordinary probe.The allegation of obstructing civil servants’ on-the-spot investigation could yield an intensi
IndustryMay 31, 2012
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Hyundai downplays reports about anti-rust coating
Hyundai Motor Group on Thursday downplayed news reports that the Korean auto giant had discriminated against local consumers by providing zinc coatings only to vehicles sold for overseas markets. Hyundai, which owns Hyundai Motor and Kia Motors, said that it has adopted the protective coating on more than 70 percent of cars sold here since late 2006, a similar level as that of the U.S. and Europe. “We have applied the zinc coatings to more than 70 percent of medium-sized cars such as Sonata and
IndustryMay 31, 2012
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Volkswagen to recall 1,100 cars here over fuel filters
German automaker Volkswagen AG will recall 1,111 units of its popular CC four-door sedan and Tiguan compact sport utility vehicle to repair faulty fuel filters, the South Korean government said Thursday.Subject to the recall are 729 2.0-liter turbo diesel CCs produced between March 31 and Aug. 25 of last year and sold through Volkswagen’s local distributor. In addition, 382 Tiguans with the same engine made from March 25 through Sept. 20 will be recalled, the Ministry of Land, Transport and Mari
MobilityMay 31, 2012
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Korea’s global competitiveness ranking holds steady for 2012
South Korea’s global competitiveness ranking remains unchanged in 2012 from a year earlier despite persistent economic uncertainties, an international institute said Thursday.According to the 2012 World Competitiveness Yearbook unveiled by the International Management Development Institute, South Korea ranked 22nd in competitiveness among the 59 countries surveyed.IMD is a Switzerland-based institute that releases competitiveness rankings every year based on countries’ economic achievements, inf
May 31, 2012
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SKT, HMH form global smart-learning partnership
SK Telecom said Thursday that it will target the global smart-learning market together with U.S.-based global learning company Houghton Mifflin Harcourt.The two firms signed an agreement at SKT’s headquarters in downtown Seoul on the same day to jointly launch the smart-learning project.The event took place as the country’s telecom giant seeks a future growth engine to target the overseas market, much bigger in size than the increasingly saturated Korean market.As a start, SKT previously introdu
IndustryMay 31, 2012
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Hanwha signs $8b contract in Iraq
Hanwha Group has signed an $8 billion contract to build a housing complex in a new town of Iraq, the conglomerate said in a statement Thursday.A formal contract was signed at a state-run office in Iraq on Wednesday, with group chairman Kim Seung-youn taking part in the event, a Hanwha spokesman said. “Its scale will mark the largest-ever in history in Korea’s overseas construction projects,” he said. The Iraqi government recently endorsed the business deal under which Hanwha Engineering & Constr
IndustryMay 31, 2012
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Korean washer exporters to pay U.S. duties as high as 71%
The U.S. Commerce Department proposed duties of as much as 71 percent on large, residential washing machines made in South Korea, concluding that government subsidies for the goods undercut U.S. producers.The agency announced a preliminary finding yesterday after Whirlpool Corp. of Benton Harbor, Michigan, said in a Dec. 30 complaint that LG Electronics Inc. and Daewoo Electronics Corp., both based in Seoul, and Samsung Electronics Co. of Suwon, South Korea, sell washers in the U.S. for less tha
May 31, 2012
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POSCO, GE team up on power plants
Korea’s top steelmaker POSCO and U.S. energy giant General Electric have teamed up to strengthen their partnership in future energy projects, especially the development of related steel plates, POSCO officials said Thursday. POSCO CEO Chung Joon-yang and GE CEO Jeffrey Immelt held their first official meeting at a Seoul hotel on Thursday to sign a memorandum of understanding to further extend cooperation on five key areas. “GE reminds me of Thomas Edison, creativeness and innovation. POSCO has a
IndustryMay 31, 2012
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Shares end almost flat on eurozone jitters
South Korean stocks closed nearly unchanged Thursday as jitters over Spain’s banking sector weighed down the market, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index edged down 0.08 percent, or 1.39 points, to 1,843.47. Trading volume was moderate at 439 million shares worth 4.55 trillion won ($3.84 billion), with losers outpacing gainers 446 to 384.“The European Union’s troubles took a turn for the worse when Madrid tried to bolster
May 31, 2012
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April industrial output unchanged on-year
South Korea’s industrial output growth remained unchanged in April from a year earlier mainly due to weak exports, but it inched up from the previous month, a government report showed Thursday.Production in the mining and manufacturing industries remained flat last month from April 2011, compared with a 0.7 percent on-year gain tallied for March, according to the report by Statistics Korea.The monthly output number, however, represents a 0.9 percent increase from March.The manufacturing sector,
May 31, 2012
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Nonghyup exports 40kg of ‘hanwoo’ to Jordanian royals
Korea’s National Agricultural Cooperative Federation, or Nonghyup, announced Wednesday that it has exported premium cuts of Korean beef, or “hanwoo,” to the Jordanian royal family.Forty kilograms of frozen top-grade hanwoo arrived in Amman, Jordan, on May 26, a day after the Korean supplier put the beef on an overseas flight, officials said.The cuts include 20 kg of tenderloin, 15 kg of sirloin, and 5 kg of shank. The shank is used for making bulgogi. Nonghyup also sent bulgogi sauce to accompan
May 31, 2012
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Court upholds price-fixing fine against Samsung Fire & Marine
Samsung Fire & Marine Insurance suffered a blow to its brand image when the Supreme Court ruled on Thursday in favor of the nation’s anti-trust watchdog’s decision to fine the company for price-fixing with other insurers.The court said the Fair Trade Commission’s imposition of fines on the Samsung firm, which allegedly agreed with other insurers on discount levels for insurance products and lower reimbursement payouts, was just.The Samsung insurer had filed a nullification suit against the FTC o
May 31, 2012
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Overseas card spending rises in first quarter
South Koreans’ overseas credit card spending rose to a record high in the first quarter as more people bought products and services from abroad, the central bank said Thursday.Overseas credit card bills totaled $2.27 billion in the January-March period, up 5.2 percent from three months earlier, according to the Bank of Korea. The figure covers purchases made by credit, debit or check cards.The amount also marks the second highest quarterly spending total after the $2.96 billion reported for the
May 31, 2012
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Talks on software pricing expected between Microsoft, Defense Ministry
Two sides are unlikely to settle dispute in court, officials sayKorea’s Ministry of National Defense and Microsoft are expected to engage in talks over the price of software licensing provided by the global software developer following heightening tension between the two sides on the matter.An official with the ministry said that it is currently reviewing an official document sent by MS on May 29, and will seek to negotiate with MS to fine-tune their differences over the price, without giving a
IndustryMay 31, 2012
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Ssangyong E&C wins top honors for building hotel in Singapore
Ssangyong Engineering and Construction recently won the Building and Construction Authority Awards ― one of the industry’s greatest honors ― in three categories for its recent construction of Marina Bay Sands Hotel in Singapore. The Marina Bay Sands, developed by U.S.-based resort company Las Vegas Sands, is an integrated resort near Marina Bay in Singapore, featuring 2,561 rooms, a 120,000 square-meter convention center and a 74,000 square-meter shopping mall. Adding to the uniqueness of the re
IndustryMay 31, 2012
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Time to invest in U.S. real estate: experts
Backed up by its increasing national wealth and population, Korean investors could become major customers in the U.S. retail real estate market, a U.S. expert said in Seoul on Thursday.“Korea is in a great position with its wealth and population … and needs to invest overseas to diversify.” Joseph F. Coradino, president of Pennsylvania Real Estate Investment Trust, told The Korea Herald. The U.S. market will likely continue to rise, as shown by the history of market change after recessions, Cora
May 31, 2012
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S-Oil Corp. donates w10b for pavilion restoration
S-Oil Corp. said Thursday that it will donate 10 billion won for the restoration of Ulsan’s Taehwa Pavilion, a cultural and historical landmark in Korea’s seventh largest metropolitan city.S-Oil CEO Nasser Al-Mahasher made the announcement at the opening ceremony of the project, which took place on Thursday on the banks of the Taehwa River in Ulsan. The donation will cover the entire cost of restoring Taehwa Pavilion, a historical structure built during the reign of Queen Seon-deok during the Si
May 31, 2012