Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Korea forecast to overtake Taiwan in chip production by 2032: report
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[K-pop’s dilemma] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Yoon rebuffs opposition's call for special probe into wife
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Stray Kids hit with racism in Met Gala photo line
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[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
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Yoon apologizes for wife's 'unwise conduct'
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Major insurers cut repair charges on imported cars
Samsung Fire & Marine Insurance Co. has agreed with local dealers of Audi and Mercedes Benz to cut insurance premiums on repair charges by up to 20 percent, the insurer said Monday.“We talked with the Audi dealers to bring down the repair charges by 10 percent. Similar downward adjustments will be finalized soon with the dealers for Lexus and Honda,” a PR official at the country’s largest nonlife insurer said.The latest agreement with Audi dealers follows Samsung’s agreement with Benz dealers fr
March 5, 2012
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Shinhan Card draws most complaints
Regulators examining credit card companies’ cyber security measuresShinhan Card drew the highest number of complaints from customers last year in the local credit card industry.According to the Credit Finance Association, Shinhan Card was responsible for 447 dispute cases filed with financial regulators in 2011.Shinhan has been capturing more than 20 percent of the credit card market since acquiring LG Card, formerly No. 1 before the 2003 credit card fiasco.Disputes between customers and card is
March 5, 2012
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Hana Financial names top figures
Hana Financial Group selected the group’s new president, the No. 2 figure in the group, and its flagship Hana Bank’s CEO, the No. 3 figure.The group’s move comes after its ad hoc committee picked incumbent Hana Bank CEO Kim Jung-tai as the new chairman, the No. 1 post, following its takeover of Korea Exchange Bank.Choe Heung-sik, CEO of Hana Institute of Finance, was nominated as a candidate for group president to replace Kim Jong-yeol, who expressed his intention to resign in January.“I will t
March 5, 2012
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Hyundai, Kia, BMW to provide vehicles for nuclear summit
Hyundai Motor and its affiliate Kia Motors will help support the 2012 Nuclear Security Summit in Seoul, slated for March 26-27.The two companies delivered 262 vehicles, produced for protocol and guard of the global leaders, to the preparation committee for the summit on Monday.The vehicles included the Equus limousine by Hyundai Motor and the Starex van from Kia Motors, which will be used for the figures from more than 50 countries.The automakers will also run a maintenance team of 70 experts fo
March 5, 2012
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New teaching software can sense human emotions
Teaching software that recognizes cognitive and emotional states of its users has been developed by U.S. scientists, Science Daily reported Friday. “AutoTutor” is an Intelligent Tutoring System (ITS) that simulates the teaching and motivational strategies of human tutors. It gauges the students’ knowledge by asking questions and analyzing the answers, proactively identifying and correcting students’ misconceptions. As it interacts with the students, the program senses their frustration or boredo
TechnologyMarch 5, 2012
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Korea signs contract to develop three oil fields in UAE, eyes production in 2014
Korea on Monday signed a deal to develop three oil fields in the United Arab Emirates which are expected to produce up to 43,000 barrels of crude oil a day from as early as 2014.A consortium of the Korea National Oil Corporation and GS Energy inked a 30-year contract with the Abu Dhabi National Oil Company for joint exploration of one offshore and two onshore oil fields, the Ministry of Knowledge Economy said. Korea became the fifth country after the United States, Britain, France and Japan to d
IndustryMarch 5, 2012
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Korea-U.S. FTA to boost food product imports: KCCI poll
Korean retailers plan to import more food products once the free trade pact with the United States goes into effect this month, a poll by a private economic organization showed Monday.According to the Korea Chamber of Commerce and Industry survey on 250 local retailers, 29.1 percent of the respondents said they are interested in importing more processed foods, followed by 27.9 percent that wanted to bring in various fresh farm produces.“Many companies are eying cheese, pork, oranges and other fo
March 5, 2012
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Mystery light excites British
(123rf image)A mysterious bright light seen by thousands of people in the night sky over northern Britain caused a ruckus this weekend, authorities say.Some observers called police, others quickly hit the Internet to broadcast tweets about what they saw, The Sunday Telegraph reported.“UFO invasion?!
TechnologyMarch 5, 2012
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Samsung continues to dominate global monitor market in 2011
Samsung Electronics Co. maintained its status as the top monitor supplier in global markets last year for the fifth straight year on strong demand for its high-end products, a report showed Sunday.Shares of monitors supplied by Samsung Electronics accounted for 15.1 percent in global markets last year, according to a report by market research firm International Data Corporation.In the fourth quarter, Samsung claimed 15.5 percent of global sales of its monitors to remain in the top spot for the 2
TechnologyMarch 4, 2012
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Chinese handset makers on the rise
Korean tech firms admit gap is fast narrowingBARCELONA, Spain ― Amid the absence of the world’s largest smartphone maker Apple, Korea’s Samsung and LG ― the market No. 2 and 3 respectively ― were dominant players during the Mobile World Congress that ended Thursday in Barcelona.But the companies that made a real impression at the industry’s largest trade show this year were Chinese vendors such as ZTE and Huawei.Huawei rebranded itself as a high-end handset maker, touting its quad-core phone Asc
IndustryMarch 4, 2012
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KEPCO project financing named ‘deal of the year’
Korea Electric Power Corporation said Sunday its financing for the construction and operation of a gas combined-cycle power plant in Mexico was named by global financial magazine Euromoney as the “Power Deal of the Year” in Latin America.A consortium led by KEPCO completed the project financing of $330 million, or about 80 percent of the project cost, for the 433-megawatt Norte II gas combined-cycle power plant ordered by Mexico’s state power company Comision Federal de Electricidad.Euromoney aw
IndustryMarch 4, 2012
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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