Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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Household debt may pose long-term threat: report
A burdensome level of household debt is expected to pose a long-term threat to the Korean economy, a report said on Sunday. The LG Economic Research Institute said that Korean households are increasingly faced with debt-related risks, citing the greater likelihood of debt not being repaid in time due to worsening conditions. The report is based on an index that considers a range of elements, such as the repayment ability of households, interest payout and income levels. The index showed that loc
March 4, 2012
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Oil prices, Japanese yen to impact Seoul shares
The course of rising oil prices and a weakening Japanese yen will likely affect the direction of Seoul shares this week, analysts said Saturday.The benchmark KOSPI settled at 2,034.63 last week, gaining 14.74 points, or 0.73 percent, from a week earlier.The KOSPI got off to a weak start, slipping to the 1,990 level, amid concerns over a surge in global oil prices and a weakening yen. The benchmark index, however, recovered later in the week after the Group of 20 countries voiced concerns over sp
March 4, 2012
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Pioneer of white broth instant noodles losing steam
The white broth instant noodles market is taking a new turn with the hit Kkokkomyeon giving way to rival Nagasaki Jjamgppong. Paldo Co.’s Kkokkomyeon, which uses chicken broth, started the frenzy for white broth last year in the Korean instant noodle market traditionally dominated by ramyeon with its red-hot chili favored soup. Kkkomyeon and Nagasaki Jjamppong accounted for a fifth of all ramyeon sales at one point.The award-wining Kkokkomyeon sold more than 100 million packets in just over five
IndustryMarch 4, 2012
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Key interest rate to stay at 3.25%: economists
The Bank of Korea is forecast to freeze the benchmark interest rate for a ninth straight month next week, as it sees inflation moderating to its target range while concerns persist over Europe’s sovereign debt crisis.All five economists surveyed said the BOK would feel more comfortable keeping the rate unchanged at 3.25 percent.“It will be the issue of cutting it in preparation for more rainy days or freezing it. There is a higher possibility of a rate freeze,” Oh Suk-tae, an economist at Standa
March 4, 2012
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GM to compensate apartheid victims in South Africa
For victims of South Africa’s defunct apartheid regime, it is a financially small, but symbolically important victory over a U.S. corporate icon.This week, car giant General Motors agreed to pay up to 1.5 million dollars to a group of more than 20 South Africans who suffered torture, arrest and other forms of harassment at the hands of the regime.The claimants are suing the car company and four other global firms for their allegedly crucial role in supporting white-minority rule ― which ended in
MobilityMarch 4, 2012
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Finesse on four wheels
Aesthetics are always subjective. How would you choose the supercar of your dreams among Lamborghini, Ferrari, Maserati or Bentley?Gone are the days when the wealthy would ogle a Mercedes Benz or BMW above all else. High-end customers are increasingly eyeing built-to-order, traffic-stopping beauty rarely seen in most neighborhoods.“I have compared Lamborghini Aventador, Maserati Quattroporte and Porsche 911 and decided to settle on the 911. I can get technical about the decision process, it is c
MobilityMarch 4, 2012
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Where next for Samsung, Apple patent dispute?
Samsung to appeal German ruling, but sources say two tech giants could agree on cross-license deals in the futureThe future of the patent dispute between global IT behemoths Samsung Electronics and Apple Inc. is uncertain following a German court’s dismissal of two patent suits on Friday.The Mannheim Regional Court in Germany on Friday rejected a patent infringement suit filed by Samsung against its U.S. rival over its third generation wireless technology, while also dismissing Apple’s claim tha
IndustryMarch 4, 2012
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NASA probe discovers oxygen at one of Saturn's moons
Scientists announced discovery of molecular oxygen ions (O2+) in the atmosphere of Dione, one of Saturn’s 62 known moons, science daily reported Friday. Mct imageThe discovery, made by NASA’s Cassini spacecraft, suggests that oxygen and other ingredients for life may be abundant on icy celestia
TechnologyMarch 4, 2012
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Hyundai, Kia cars post record sales in U.S.
Hyundai Motor and Kia Motors saw their February sales in the U.S. market reach an all-time high.Hyundai Motor sold 51,151 units last month in the U.S., up 18 percent from 43,533 units a year earlier. It is a record-high performance for the carmaker’s February sales.Sales of the Sonata and Avante, called the Elantra in the U.S., came to 17,425 and 13,820 units, respectively.Kia Motors, an affiliate of Hyundai Motor, reported 37.3 percent growth with sales of 45,038 units in the world’s biggest au
MobilityMarch 2, 2012
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Korean CEOs among Forbes’ 50 top Asian businesswomen
HONG KONG (Yonhap News) ― Four Korean entrepreneurs are on the Forbes Asia list of 50 top Asian businesswomen in the magazine’s March 12 issue, which went on sale Friday.The four are Romi Haan of Haan Corp., Hyun Jeong-eun of Hyundai Group, Kim Sung-joo of Sungjoo Group and MCM Holdings AG. and Lee Mi-kyung of CJ Entertainment & Media.The Forbes Asia Power Businesswomen list is the magazine’s first catalog of 50 noteworthy Asian women who contribute significantly to the region’s business environ
March 2, 2012
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Seoul shares up 0.22% on ECB action, upbeat data
Korean stocks advanced 0.22 percent Friday, tracking a rally in overseas markets, as investor sentiment was boosted by a second round of cash injections from the European Central Bank and improved U.S. economic data. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index advanced 4.37 points to end at 2,034.62. Trading volume was moderate at 476 million shares worth 5.76 trillion won ($5.16 billion) with gainers leading losers 497 to 316.The Dow Jones ind
March 2, 2012
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Apple, Samsung lose patent suits against each other in Germany
Apple Inc. and Samsung Electronics Co. both lost patent cases against each other in a court in Germany on Friday in the latest twist in the long-running battle between the two electronics powerhouses over mobile phones and tablet computers.The Mannheim Regional Court turned down Samsung’s attempt to defend its mathematical coding procedures in processors. It also rejected Apple’s claim over features for unlocking touch screens. Delivering the verdict, Presiding Judge Andreas Voss said neither c
IndustryMarch 2, 2012
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Hynix pushes up SK Group’s exports
SK Group’s exports hit an all-time high between January and February, prompted by robust sales from its new affiliate Hynix Semiconductor, the Korean industrial group said Friday.The group said its seven affiliates together registered 10.6 trillion won ($9.5 billion) in exports in the first two months of this year, up nearly 36 percent from a year ago.Exports accounted for more than 71 percent of their combined sales, which came in at 14.9 trillion won during the two-month period, the group note
IndustryMarch 2, 2012
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Samsung, Microsoft jointly develop upgraded server system
South Korean tech firm Samsung Electronics Co. said Thursday it has developed an upgraded server solution in cooperation with Microsoft Corp. to provide customers with a system of a high level of performance and efficiency. The so-called "Green Server Solution" utilizes Samsung's 20 nanometer-c
TechnologyMarch 2, 2012
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Apple, Samsung lose patent cases against each other in Germany
Apple Inc. and Samsung Electronics Co. both lost patent cases against each other in a court in Germany on Friday in the latest twist in the long-running battle between the two electronics powerhouses over mobile phones and tablet computers.The Mannheim Regional Court turned down Samsung’s attempt to
TechnologyMarch 2, 2012
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Consumer price growth slowest in 14 months
The growth of consumer prices dropped to its lowest in 14 months in February, while worries over inflationary pressure continue mainly due to skyrocketing oil prices.Statistics Korea data showed Friday that the nation’s consumer prices climbed 3.1 percent in February from a year earlier, which marked the lowest year-on-year growth since 3 percent in December 2010.In January, year-on-year price growth came to 3.4 percent. An official at the statistics agency attributed the fall to a drop in publi
March 2, 2012
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Foreign IBs eye Korea‘s current account surplus for Feb.
International investment banks estimate Korea may have posted a current account surplus for February due mainly to its global market competitiveness, a report showed Friday.According to the report by the Korea Center for International Finance, Barclays Capital, Morgan Stanley and Deutsche Bank all assessed Korea’s current account balance to have shifted back into the black last month from a deficit of around $800 million in January.The January deficit marked the first time in two years the month
March 2, 2012
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EUCCK under tax investigation
The National Tax Service is investigating the European Union Chamber of Commerce in Korea for allegations of dodging taxes from possible profits it made through advertisements on their magazine, the tax authority said on Thursday.“The Namdaemun branch of the tax agency began their probe on the EUCCK last week to study revenue the non-profit organization made from collecting advertising fees,” an NTS official told The Korea Herald.The probe will tell whether the EUCCK has made any taxable income
March 1, 2012
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Tax officials to get access to Swiss bank accounts
The Korean government will be able to gain access to hidden Swiss bank accounts held by its citizens, which could help trace illegal slush funds and prevent tax evasion, officials said on Thursday.The National Assembly early this week ratified a provision on information sharing in the Korea- Switzerland tax treaty, taking the National Tax Service a step closer to accessing secret bank accounts in the world’s biggest haven for offshore wealth. The Swiss parliament is expected to follow suit in Ju
March 1, 2012
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Scientists develop photocatalyst for solar hydrogen production
Scientists have developed a photocatalyst that can significantly increase the efficiency of producing hydrogen from sunlight, the government said Thursday.The Ministry of Education, Science and Technology said a research team led by Lee Jae-sung, a professor of chemical engineering from the Pohang University of Science and Technology (POSTECH), devised a method to make large quantities of hydrogen.Hydrogen is a key natural resource and has the potential to be used in next generation power cells
TechnologyMarch 1, 2012