Most Popular
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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S. Korean children, teens grow taller, mature faster than before: study
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Army takes group action against Hybe for neglecting BTS
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Some junior doctors are returning: Health Ministry
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Debate rages over ‘overly fatty’ samgyeopsal
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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[Weekender] Korean psyche untangled: Musok
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Woman dangling from power lines rescued by residents holding blanket
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Vote unlikely to affect economy in short term
Both governing and opposition parties similarly push for more regulations against conglomeratesThe outcome of the general elections is expected to have a minimal impact on the South Korean economy in the short term as there is no substantial difference in key polices between the ruling and opposition parties, analysts said. If the main opposition Democratic United Party grabs a landslide victory, it will push for more welfare-oriented economic policies while introducing more restrictions on cong
April 10, 2012
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Shares inch down on U.S. data, N.K. risk
South Korean stocks dropped 0.13 percent on Tuesday, weighed down by unfavorable U.S. economic indicators and geopolitical risks, analysts said. The local currency declined against the U.S. dollar.After regaining the 2,000-point level in early trading, the benchmark Korea Composite Stock Price Index shed 2.67 points to close at 1,994.41. Trading volume was heavy at 533 million shares worth 4.82 trillion won ($4.23 billion), with gainers outpacing losers 436 to 383.“The local bourse was unable to
April 10, 2012
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Korean exports forecast to grow 3 percent in Q2
South Korea’s exports are expected to expand about 3 percent on-year in the second quarter on the back of improving internal and external economic indicators, a state-run trade bank said Tuesday.The forecast by the Export-Import Bank of Korea is based on its leading index for the country’s overseas shipments, which reflects economic conditions of importing countries and export price levels of local goods.The trade bank said the export gauge reached 112 for the April-June period, up 0.6 percent f
April 10, 2012
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Korea’s national debt grows 28.5 trillion won in 2011
South Korea’s national debt rose by 28.5 trillion won ($25 billion) last year from a year earlier as the government increased borrowing to fill its budget gap, the Finance Ministry said Tuesday.According to a ministry report, the national debt including central and local government borrowing amounted to 420.7 trillion won last year, up from 392.2 trillion won a year earlier.Central government debt grew by 29 trillion won to 402.8 trillion won in the 2011 fiscal year. Debt owed by local governmen
April 10, 2012
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Air traffic grows by 5.8% in Q1
Passenger aircraft traffic over South Korea rose 5.8 percent in the first quarter from a year earlier on a growing number of people taking international and domestic flights, the government said Tuesday.The number of passenger planes taking off and landing at local airports and those overflying the country reached 132,000 aircraft in the three month period, from 123,000 a year earlier, the Ministry of Land, Transport and Maritime Affairs said.The tally represents all private jets that flew withi
April 10, 2012
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SMEs growing driving force behind Korea’s export growth to Europe
Trend expected to follow in U.S. on back of FTAKorea’s long-standing economic landscape, in which big conglomerates have been the main drivers of export growth, appears to be gradually changing as smaller firms contribute more to increasing Korea’s outbound shipments.About 83,000 second and third-tier Korean suppliers and manufacturers, with fewer than 300 employees and capital of less than 8 billion won ($7 million), exported goods worth some $9.6 billion to Europe in 2011, according to the Sma
April 10, 2012
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Cosmetics: High-tech meets emotion
There is no stopping the Korean cosmetics market. The value of the cosmetics market grew to 8.9 trillion won ($7.9 billion) in 2011 from 5.6 trillion won in 2006, an annual average increase of 10.4 percent. Even when the economy came to a near-standstill with GDP growing 0.3 percent in 2009 in the wake of the global financial crisis, the domestic cosmetics market grew 11.8 percent, proving itself to be recession-resistant.The rapid growth derives from new dynamics in the cosmetics industry. Risi
IndustryApril 10, 2012
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‘Unifying view’ needed to better use social networks
Expert on digital marketing calls on companies to set up right platform to deal with ever-growing universe of social networksIn the era of Facebook and Twitter ― and also Foursquare, LinkedIn, Instagram, Pinterest and many other social networks ― PR professionals are faced with an ever-growing list of channels that require different approaches and strategies. For Jennifer Houston, president of WE Studio D team at Waggener Edstrom Worldwide, the explosive growth of such social networks where ther
TechnologyApril 10, 2012
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New DSME chief to chair industry body
Daewoo Shipbuilding & Marine Engineering’s new chief executive Ko Jae-ho has been named to head the Korean Shipbuilders’ Association, the trade body said Monday.Ko, 57, will take over the remaining term of Nam Sang-tae, the association’s former chairman who resigned after his two terms ended at DSME, until March 18, 2013. Ko took office at the world’s second-largest shipbuilder last week.The organization’s presidency rotates through its nine members, also including Hyundai Heavy Industries, STX
IndustryApril 10, 2012
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‘A unifying view needed to better utilize social networks’
Expert on digital marketing calls on companies to set up right platform to deal with ever-growing universe of social networksIn the era of Facebook and Twitter -- and also Foursquare, LinkedIn, Instagram, Pinterest and many other social networks -- PR professionals are faced with an ever-growing list of channels that require different approaches and strategies. For Jennifer Houston, president of WE Studio D team at Waggener Edstrom Worldwide, the explosive growth of such social networks where th
TechnologyApril 10, 2012
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Dental X-rays linked to brain tumors: U.S. study
People who get regular dental X-rays are more likely to suffer a common type of brain tumor, U.S. researchers said on Tuesday, suggesting that yearly exams may not be best for most patients.The study in the U.S. journal Cancer showed people diagnosed with meningioma who reported having a yearly bitewing exam were 1.4 times to 1.9 times as likely as a healthy control group to have developed such tu
TechnologyApril 10, 2012
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Mechanic takes motorized couch for a spin
A New Zealand mechanic who designed a motorized couch with a top speed of 37 mph said his creation has been admired by townspeople, even police officers.Josh Steeg of Hastings said he and some friends took the couch for an Easter spin through Napier as part of a scheme to attract business for his mechanical work and perhaps even the couch itself, Hawkes Bay Today reported Monday."Who knows, someon
TechnologyApril 10, 2012
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Obesity in pregnancy linked to autism
Mothers who are obese or have diabetes during pregnancy may be more likely to have babies with autism or other developmental delays, said a US study published on Monday. MCTThe findings "appear to raise serious public health concerns," said the study in the journal Pediatrics, which comes amid an obesity epidemic in the United States with recent research showing autism strikes up to one in 88 chil
TechnologyApril 10, 2012
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Parliament likely to have more pro-labor members
More than 20 pro-labor candidates are expected to be elected on Wednesday, worrying South Korea’s business circles, which fear the lawmakers would push for more restrictive legislation. Koreans will elect 300 lawmakers, 246 directly from precincts and 54 through proportional representation, and the number of lawmakers sympathetic with the labor movement is expected to rise to at least 20, up from 15 in previous elections. The local business sectors are expressing mixed expectations. On the one h
April 9, 2012
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Windsor sales spike ahead of price hike
Diageo Korea saw a leap in sales of its flagship whiskies last month as wholesalers rushed to boost their stockpiles prior to a price increase, industry figures showed Monday.The shipment volume of Windsor topped 1.1 billion liters in March, up almost 40 percent from the combined volume in the preceding two months. The product is the top-selling whisky in the domestic market. Johnnie Walker Black, another whisky distributed by the Korean unit of the London-based drinks group, also saw an 11.6 pe
IndustryApril 9, 2012
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KT&G’s Esse exports top 100 billion units
Overseas sales of KT&G Corp.’s flagship Esse cigarettes have surpassed 100 billion units since its maiden export in 2001, Korea’s largest tobacco firm said Monday.The tally is greater than the country’s yearly cigarette consumption of 90 billion pieces, a company spokesperson noted. Exports reached 21 billion pieces last year alone. The 17-model ultra slim brand has been reigning as the top seller in the local market since 2003, boasting around a 25 percent stake. It is now sold in some 40 count
IndustryApril 9, 2012
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Car exports hit record high in March
South Korea’s car exports reached a record high in March, fueled by strong overseas demand for small-sized vehicles and sport utility vehicles, a government report showed Monday.Overseas vehicle shipments surged 18.1 percent on-year to 305,257 units last month, with total domestic production moving up 6.3 percent to 420,759 vehicles, according to the report by the Ministry of Knowledge Economy.The ministry said overseas sales were bolstered by 30.4 percent increase in small-sized cars and 17.4 p
MobilityApril 9, 2012
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Samsung SNS wins iF packaging design gold
Samsung Network Services and Solutions said Monday that it received the gold award at the 2012 iF packaging design awards in Hannover.The first firm in the country to receive the prize, the company was recognized for its packaging that uses environmentally friendly materials such as reusable paper and ink made of soybean oil, its officials said. Five gold awards were granted by the organization.Instead of unifying the labels of the packaging, it also differentiated the colors depending on the pr
IndustryApril 9, 2012
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Korean Air eyes W1.5tr sales of wingtips and cargo doors
Korean Air said Monday it expects to earn 1.5 trillion won ($1.3 billion) in sales of wingtips and cargo doors by 2021 as the country’s flag carrier boosts its aircraft parts business to diversify its revenue structure. The country’s largest airline said it delivered on Sunday the first set of its fuel-saving wingtip components, codenamed “Sharklets,” for Airbus S.A.S.’ A320 jets. The L-shaped parts, which will replace the current wingtip fence, will help enhance the aircraft’s payload range and
IndustryApril 9, 2012
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Hyundai-Kia to hold job fair for suppliers
Hyundai Motors and its affiliate Kia Motors are stepping up their efforts to support subcontractors’ recruiting.The two companies said Monday that they will hold a series of job fairs to hire jobseekers for subcontractors, including auto parts manufacturers, between April 25 and May 10.The automotive job fairs will start at the COEX in Samseong-dong in southern Seoul on April 25. The event in Seoul will run though April 26.The same events are scheduled for provincial cities such as Gwangju and D
MobilityApril 9, 2012