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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Woman gets suspended term for injuring boyfriend with knife
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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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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U.S. scientists discover new ‘waterworld’ planet
(123rf image) Artist’s rendition of GJ1214b (AFP-Yonhap News)An astronaut attempting to visit recently discovered planet GJ1214b would land in hot water -- literally, U.S. scientists say.Researchers at the Harvard-Smithsonian Center for Astrophysics said they have identified an entirely new k
TechnologyFeb. 22, 2012
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Barnes & Noble unveils $199 Nook Tablet
US bookseller Barnes & Noble unveiled a new version of its Nook tablet computer Tuesday, a device with the same $199 price tag as Amazon's Kindle Fire.The seven-inch (17.78-centimeter) Nook Tablet also has eight gigabytes of memory like the tablet released by online retail giant Amazon in November.A
TechnologyFeb. 22, 2012
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Chaebol firm on car imports despite Doosan pullout
Hyosung, Kolon to continue business; only LS Networks chewing over latest developmentsMost of the chaebol involved in import car sales said Tuesday they would not be affected by Doosan Group’s withdrawal from the business.Doosan’s DFMS decided to give up its dealerships of Honda, Jaguar and Land Rover amid public criticism that business moguls’ progeny were running after easy money through bakeries and foreign car sales.Doosan’s announcement came just weeks after several chaebol, including Samsu
IndustryFeb. 21, 2012
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Listed firms’ net profit sinks 20.6% in 2011
Korean listed firms saw their net profit drop 20.6 percent in 2011 from a year earlier, as uncertainties in Europe and the United States affected the global economy, data showed Tuesday. The combined net profit of 325 firms listed on the Seoul main bourse reached 43.2 trillion won ($38.3 billion) as of end-2011, compared with 54.4 trillion won in the previous year, according to the data by the Korea Listed Companies Association. The 325 firms include those that close their books in December and
Feb. 21, 2012
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Nokia, Qualcomm, Samsung own strongest LTE patent portfolios
A recent study found that Nokia, Qualcomm and Samsung Electronics have secured the highest number of patents related to the fourth-generation communications network technology Long Term Evolution.In a study unveiled by global patent research community Article One Partners and Thomson Reuters, three technology firms ― Nokia, Qualcomm and Samsung ― were equipped with the strongest LTE portfolio, taking leadership in future LTE technologies.Together, the top three firms owned more than 43 percent o
IndustryFeb. 21, 2012
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NH financial group to debut in March
Nation’s No. 5 lender holds largest sales networksThe National Agricultural Cooperative Federation, or Nonghyup, will establish a financial group early next month, becoming the nation’s No. 5 lender in the financial industry.The new financial group’s debut reflects the government’s policy to separately operate the credit or financial sector and the economy or farm products marketing sector.The dividing of the business sector will mark the first time in 51 years since Agriculture Bank merged with
Feb. 21, 2012
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Shares end flat on Greek rescue
Korean stocks finished almost unchanged on Tuesday, as a Greek rescue deal helped erase earlier losses, but profit-taking by institutional investors weighed down the bourse, analysts said. The local currency rose against the U.S. greenback. After a volatile trading, the benchmark KOSPI shed 0.03 percent, or 0.66 points, to 2,024.24.Trading volume was heavy at 699 million shares worth 5.56 trillion won ($4.95 billion) with losers leading gainers 441 to 377. “The KOSPI posted a seven straight week
Feb. 21, 2012
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Hana Financial to relocate its headquarters
Hana Financial Group Inc., South Korea’s fourth-largest banking group, said Tuesday that it plans to relocate its headquarters as early as 2014 to Incheon city, west of Seoul. The scheduled move to the city, located 40 kilometers west of the Korean capital, is part of Hana’s push to raise its profile in the global market, following its acquisition of Korea Exchange Bank. “For the first time in the Korean financial industry, Hana will establish a strategic hub in Incheon,” Kim Seung-yu, the chair
Feb. 21, 2012
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Private equity funds invest in Korean films, real estate
Private equity funds have increased their holdings in real estate assets and projects related to the boom of the Korean Wave data showed Tuesday. According to the Korea Financial Investment Association, the country’s entire fund market estimated at 311.1 trillion won ($276.9 billion), with the share of private equity funds rising fast. As of Feb. 17, general funds available for retail investors are valued at 201.3 trillion won, down 75 trillion won from April 2009. Private equity funds were wort
Feb. 21, 2012
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Short-term external debt falls to lowest in decade: BOK
Korea’s short term external debt in proportion to overall overseas borrowing fell to the lowest level in a decade, the Bank of Korea said Tuesday, in the latest sign that the country’s credit soundness is improving.External debt maturing in less than one year came in at $136.1 billion at the end of December last year, down $3.6 billion from data compiled for the July-September period. The figure in relation to total external debt is 34.2 percent, down 3.7 percentage points from three months earl
Feb. 21, 2012
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Mild dehydration can affect mood, thinking
Even mild dehydration can alter a person's mood, energy level and ability to think clearly, but the effect might be more acute in women, U.S. researchers said.Lawrence E. Armstrong, a professor of physiology at the University of Connecticut, said two studies affirm the importance of staying properly
TechnologyFeb. 21, 2012
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Insurers to cut auto insurance premiums
Korean non-life insurers will slash auto insurance premiums starting in April after weeks of discussions with the country’s financial regulator, sources said Tuesday. The insurers will decide on the exact rates for the cut and most likely announce them by the end of this month to take effect for new contracts starting in April. The rate cut will likely be between 2-4 percent, the sources said. Samsung Fire & Marine Insurance Co., the country’s top nonlife insurer and its rival Dongbu Insurance C
Feb. 21, 2012
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[Meet the CEO] Kangwon Land aims to be more than casino
CEO vows to tackle social bias and external pressure, while planting sound gaming culture at resort complexCorruption, bankruptcy and broken homes have been typical of the images of gambling in the minds of Koreans. The risks of addiction and ethical degradation have also put the gaming business under heavy government regulations and civic scrutiny.Kangwon Land, the sole domestic casino complex accessible to Koreans, is striving to head off these hurdles as it seeks to establish gambling as a lu
IndustryFeb. 21, 2012
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Scientists regenerate a plant -- 30,000 years later
Flowers from Silene stenophylla plant, which was regenerated after 31,800 years. (PNAS-Yonhap News)Fruit seeds stored away by squirrels more than 30,000 years ago and found in Siberian permafrost have been regenerated into full flowering plants by scientists in Russia, a new study has revealed.The s
TechnologyFeb. 21, 2012
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Most firms eye less than 3% growth
A majority of local businesses expect Korea’s economy to grow at a sluggish pace in 2012 mainly due to weak exports and a drop in consumer demand, a poll showed Monday.The survey of 500 companies by the Korea Chamber of Commerce and Industry showed 58.4 percent of respondents predicting growth of less than 3 percent for this year, a sharp drop from 20.8 percent that forecast such a low GDP number in December.The latest prediction is lower than the 3.8 percent growth tallied for last year and the
IndustryFeb. 21, 2012
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KRX plans to overhaul stock trading fees
Rate could be cut by more than 10 percent to benefit retail investorsKorea’s bourse operator and other securities-related agencies said Monday they plan to slash the trading fees they charge for brokerages, a move that will lead to lower commissions that retail investors pay.The Korea Exchange, the Korea Securities Depository and other organizations are considering a cut of more than 10 percent in fees applied to local securities houses and futures firms. The move is expected to help reduce the
Feb. 20, 2012
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[Herald Interview] LS Group taps into emerging markets
Chairman John Koo says companies’ social contribution is mandatory investmentLS Group, unrivaled in Korea for industrial cables and electrical systems, is aggressively expanding abroad with a focus on green businesses, such as smart grid, renewable energy, electric car parts and resource development. With LS Cable & System and LS Industrial Systems as its two main pillars, LS has grown into the nation’s 13th largest conglomerate in terms of asset value in the nine years since it spun off from LG
IndustryFeb. 20, 2012
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[Herald Interview] Koo champions LS Group’s expansion, shared growth
Chairman says LS is fattening investment in Silicon Valley to find business modelThe following is a transcript of The Korea Herald’s interview with LS Group chairman John Koo. ― Ed.KH: How do you forecast the domestic and international management environment this year or for the next few years?Koo: I expect a time of extreme volatility as the global economic cycle accelerates. Increased uncertainties due to the eurozone debt crisis and instability in the Middle East will raise the volatility of
IndustryFeb. 20, 2012
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Companies step up efforts for ecosystemic development
Ecosystemic development, or shared growth with smaller partner companies and social contributions, has been the latest buzzword for the nation’s major enterprises and financial companies.Woori Financial Group has been at the forefront of social contribution in the financial sector.Last month, Woori Financial became the first financial company to sign a preliminary deal with the Education Ministry to run financial education programs for children, teenagers and job seekers.The nation’s largest fin
IndustryFeb. 20, 2012
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Department stores mull hagwon business
Local department stores are considering listing their education centers as private institutions, following a revision to the law on hagwon management last year. Shinsegae Group said Monday that it will revise the corporate purposes of Shinsegae Department Store and E-Mart to include its hagwon business during a shareholders’ meeting scheduled on March 2. Other major companies, such as Lotte and Hyundai department stores, also plan to continue similar discussions in the two-year grace period allo
IndustryFeb. 20, 2012