Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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Samsung chief bolsters ties with Germany’s Zeiss
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KT launches new mobile plans for foreign residents
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Korea aims for debt below 30% of GDP
Korea is seeking to lower its debt by more than 4 percent to below 30 percent of its gross domestic product by 2015 to boost fiscal soundness amid spiraling household borrowing and social spending. The latest roadmap for the debt sustainability of Asia’s fourth-largest economy was unveiled Saturday at a strategic meeting for national finance at Cheong Wa Dae, presided over President Lee Myung-bak and attended by ministers, other cabinet members and private experts. To that aim, the government pl
April 29, 2012
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Eyes on social entrepreneurism
More companies are turning their eyes on social entrepreneurism aimed at promoting a fairer society by helping the underprivileged, industry observers said.They said social entrepreneurism will be further emphasized as a major trend for corporate growth in the future.Most big companies have focused on engaging in corporate social responsibility activities by providing financial and other support to the poor and underprivileged. According to a report by the nation’s largest lobby group, the Feder
April 29, 2012
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Stocks to track eurozone developments
South Korean stocks are expected to track developments in eurozone countries and global and domestic economic data this week, local analysts said.The country’s key stock index, the KOSPI, closed at 1,975.35 on Friday, a dip of 0.1 percent from a week earlier, mainly due to North Korea’s geopolitical risk, and persistent eurozone woes fueled by the downgrading of Spain’s long-term credit rating by two notches. Concerns fiscal instability may spread to the Netherlands and France further affected t
April 29, 2012
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Shinhan Financial expands social contribution programs
Shinhan Financial Group is widening the scope of its social contribution activities to education, the environment and culture.The group has been pursuing philanthropic work since its flagship Shinhan Bank became the nation’s first commercial bank to file a “corporate social responsibility” report six years ago.Among the group’s activities are offering scholarships for kids in need, launching forestry protection programs, preserving cultural historic assets and offering business classes for North
April 29, 2012
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Korean bank earnings drop in first quarter
South Korean banks saw their net income decline sharply in the first quarter from a year earlier, but gross income rose slightly, the country’s financial watchdog said Sunday.The combined net profit of local banks was an estimated 3.5 trillion won ($3.09 billion) for the January-March period, down 1 trillion won from a year earlier but up 4.1 trillion won from the previous quarter, according to the Financial Supervisory Service.Their gross income, however, increased by around 100 billion won to
April 29, 2012
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Woori sale to resume Monday
Chief regulator shows confidence in attracting competitive bidderThe Public Fund Oversight Committee will put up the state-controlled Woori Financial Group for auction again on Monday.In a statement on Sunday, the PFOC said it would attract preliminary bidders for the nation’s largest financial group by July 27 after making official notification of the sale on April 30.The new sale project comes after financial authorities failed to attract a preferred bidder for Woori Financial several times be
April 29, 2012
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Kangwon Land strives to be Asia’s leading resort complex
Korea’s sole casino for locals adds hotel, condo, ski slopes, convention center and water parkSpurred by its robust casino business, Kangwon Land has been striving to transform into a multiplex resort and one of Asia’s leading tourist destinations. Its decade-long efforts are now coming to fruition. In addition to bustling gambling floors, it now features two hotels, condominiums, an 18-slope ski resort, a golf course and a convention venue with a water park slated for 2015.Also known as High1 R
IndustryApril 29, 2012
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High 1 Resort in final preparations for FIS congress
High 1 Resort is undergoing final preparations to host the International Ski Federation’s congress at the Kangwonland Convention Hotel in Gangwon Province from May 27 through June 2.About 1,500 people from 110 countries will gather at the 48th International Ski Congress, one of the largest winter sports-related events.It will be the first time the FIS congress is held in Asia.As most of the participants of the congress will be foreigners, High 1 Resort is designing the events and banquets during
IndustryApril 29, 2012
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Resort company takes pains to give back to communities
Casino-hotel complex supports education, culture and social enterprisesSince its founding in 1998, Kangwon Land has made social contribution a key part of its agenda, reflecting its mission of perking up the regional economy.The company says its programs aim to revive lethargic former coal mining towns in southern Gangwon Province and promote co-prosperity with contractors that employ residents there.Around 20 billion won ($17.6 million) is channeled into projects including educational support,
IndustryApril 29, 2012
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Volkswagen zooms into 2012 with 86% increase in profits
Europe’s biggest car maker, said Thursday that profits raced ahead in the first three months of this year, driven by strong demand worldwide for all of its brands.VW said in a statement it booked net profit of 3.186 billion euros ($4.222 billion) in the period from January to March, an increase of 86 percent from a year earlier. Underlying earnings, as measured by operating profit, revved up 10.2 percent to 3.209 billion euros, as the auto giant sold 11.3 percent more vehicles ― 2.26 million wor
MobilityApril 29, 2012
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Kia Motors to complete K-series this year
Carmaker yet to launch K2 compact in Korea despite strong sales in ChinaThe K series of Kia Motors Corp. will likely be completed this year after the automaker unveiled the first model ― the K7 sedan ― in November 2009.Kia, which launched the K5 sedan in April 2010, is scheduled to fill the K line-up by unveiling the third and fourth models ― the K9 and K3 ― in May and later this year, respectively, according to company executives.“We plan to launch the K9 on May 2 and the timing of the K3 will
MobilityApril 29, 2012
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The North Face fined for abusing retailers
The nation’s antitrust watchdog said Sunday that it has fined The North Face Korea 5.2 billion won ($4.6 million) for pushing its sales outlets to maintain prices high with an aim to continue its premium image here. The penalty fee is the highest-ever amount imposed by the Fair Trade Commission on the unfair business practice that limits discount rate of product prices, officials said. Under fair trade rules, retailers in the distribution channels are allowed to adjust their prices to compete fr
IndustryApril 29, 2012
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Study: Brain waves changed by game playing
Playing an action videogame, even for just a short time, causes differences in brain activity and improvements in visual attention, Canadian researchers say.Twenty-five subjects who had not previously played videogames, taking part in research at the University of Toronto, played a game for a total of 10 hours in 1- to 2-hour sessions.Sixteen of the subjects played a first-person shooter game and,
TechnologyApril 29, 2012
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Samsung coyness puts smartphone crown in dispute
Smartphones are the hottest gadgets in the world. But who's the biggest smartphone maker? We don't really know. (AP-Yonhap News)Samsung, Apple's chief competitor, gives only vague indications of how many it makes, which means industry watchers come up with widely diverging estimates. Apple Inc. reports its iPhone sales down to the thousands. In the January to March period, it shipped 35,064,000. S
IndustryApril 29, 2012
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Seoul stocks to track eurozone developments
South Korean stocks are expected to track developments in eurozone countries and global and domestic economic data next week, local analysts said Saturday.The country's key stock index, the KOSPI, closed at 1,975.35 on Friday, a dip of 0.1 percent from a week earlier, mainly due to North Korea's geopolitical risk, and persistent eurozone woes fueled by the downgrading of Spain's long-term credit r
April 28, 2012
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‘Korea will not halt quarantine checks’
Korea has no plans to suspend quarantine inspections on U.S. beef, Agriculture Minister Suh Kyu-yong said Friday, despite high public concern after a dairy cow in California was found infected with mad cow disease.A report from Washington confirmed that the infected animal was a dairy cow over 10 years old and that it had contracted a very rare “atypical” form of the brain-wasting disease, Suh told reporters during his visit to a quarantine facility in Yongin, Gyeonggi Province.The minister said
April 27, 2012
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Digital never dies
Users urged to manage digital reputation and be careful in putting personal info onlineIt is not uncommon to see public figures suddenly fall into disgrace and infamy due to reckless comments made in a public place or interview with the media. But in the era of Facebook and Twitter, people are now faced with the bewildering reality that a single careless comment on social networks, even years ago, could backfire spectacularly. A striking case in point is Kim Gu-ra, a comedian who built up his ca
TechnologyApril 27, 2012
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Samsung Electronics posts record profits
Smartphones, displays up, chips down for tech giant in first quarterSamsung Electronics saw its first-quarter earnings hit an all-time high thanks to brisk global sales of smartphones, the company said on Friday.The Korean tech manufacturing giant said that its operating profit reached a record 5.85 trillion won ($5.15 billion) from January to March, up 98.4 percent from 2.95 trillion won a year earlier.It posted sales of 45.3 trillion won in the first quarter of 2012, up 22.4 percent from about
TechnologyApril 27, 2012
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Shares end higher on corporate earnings
South Korean stocks closed 0.58 percent higher on Friday as positive earnings reports and overnight gains on Wall Street helped alleviate persistent eurozone concerns, analysts said. The local currency rose against the U.S. dollar.The benchmark KOSPI added 11.31 points to close at 1,975.35. Trading volume was moderate at 470 million shares worth 5.27 trillion won ($4.62 billion), with gainers outpacing losers 434 to 394.“The downgrading of Spain’s long-term credit rating by two notches, which ra
April 27, 2012
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Current account surplus tops $3b
South Korea’s current account surplus widened sharply in March from the previous month, backed by strong auto and petrochemical exports, the central bank said Friday.The current account surplus reached $3.04 billion last month, up from $560 million in the black tallied in the previous month, according to the Bank of Korea. The figure is larger than the $1.33 billion surplus tallied a year earlier. Asia’s fourth-largest economy logged a surplus of $3 billion in goods trade, fueled by strong overs
April 27, 2012