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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Samsung chief bolsters ties with Germany’s Zeiss
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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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KT launches new mobile plans for foreign residents
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Banks to increase household loans by 5.4 percent this year
Lenders to reduce home-backed loans, putting more pressure on borrowersKorean banks plan to expand their lending but cut down on home-backed loans this year, putting more pressure on debt-laden households. In the 2012 management reports filed to the Financial Supervisory Service, the country’s banks said they would extend their loans to households by 5.4 percent or 25 trillion won ($22.1 billion) from last year, an increase that is within the regulator’s guidelines. The self-imposed restriction
Feb. 19, 2012
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Foreign firms flock back to Busan
Biennial car show expected to be largest ever with participation of 18 automakersThe Busan International Motor Show 2012 is likely to be the largest scale ever, with new offerings from 18 automakers including 13 import brands.The previous Busan Motor Show, which was held in 2010, attracted only two import brands.Two years ago foreign carmakers downplayed the benefits of participation, but this year’s event could be a great chance for the 13 import brands as they are set to unveil a number of ne
MobilityFeb. 19, 2012
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SKT now offering roaming service onboard cruise ships
SK Telecom, the nation’s largest telecom carrier, said Sunday that it will start mobile roaming services onboard cruise ships around the world from Monday. SKT has teamed up with Wireless Maritime Services, a leading provider of onboard communication systems, to offer voice calling, text messaging and data service on 126 cruise liners of 25 companies.The company said that the new service will be helpful even if there is a shipwreck as it is based on satellite communications allowing travelers to
TechnologyFeb. 19, 2012
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Study: Goats can develop 'accents'
MCTGoats, like people, can develop accents based on their surroundings, a British university study indicates.Until now, experts assumed most species' "voices" were dictated exclusively by genetics and not their surroundings. Exceptions were thought to be limited to humans, elephants, dolphins whales
TechnologyFeb. 19, 2012
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It take almost an hour to work off soda
Most U.S. teens don't know how long it takes to work off calories in a soda, but once they know, they drink more water instead, researchers said.Researcher Sara Bleach of The Johns Hopkins Bloomberg School of Public Health in Baltimore and colleagues had posters put in convenience stores, notifying
TechnologyFeb. 19, 2012
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Asian budget carriers set for price war
Peach Aviation, AirAsia Japan, Jetstar Japan and Spring Airlines tapping Korean marketCompetition between Asia’s low-cost airlines is poised to heat up this year as carriers from Japan and China are lining up to launch new routes to Seoul, seeking to gain an upper hand in one of the world’s fastest growing aviation markets. That will bring fresh challenges to Korea’s two full-service airlines, which are already being pummeled by volatile fuel prices, lower cargo demand and a weaker local curren
IndustryFeb. 17, 2012
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Hana, KEB union strike deal
Hana assures KEB independent management, job security for 5 yearsHana Financial Group and the hard-line labor union of the Korea Exchange Bank on Friday reached an 11th-hour compromise on how to manage KEB, taken over by Hana.With the agreement, the KEB union leaders withdrew its plan to go into a general strike against Hana’s merger of their bank. Under the agreement, the KEB brand will be maintained for five years ― separate from the group’s flagship Hana Bank ― as a new unit of Hana Financial
Feb. 17, 2012
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‘Korea to post trade surplus in February’
Knowledge Economy Minister Hong Suk-woo said Thursday that Korea’s trade balance would swing back into the black this month as exports pick up, driving a turnaround from January’s painful deficit. “We’ll post a surplus this month, albeit small, despite tough economic conditions,” he told reporters at a dinner meeting, without providing numbers. Hong’s forecast backs the remarks made early this month by Han Jin-hyun, deputy minister for trade and investment policy that he anticipates slight expor
Feb. 17, 2012
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LG Electronics chief urges juniors to speak up
LG Electronics chief executive Koo Bon-joon stressed the importance of communication, encouraging junior employees to speak up to management to improve performance, its officials said Friday.In a meeting with a group of junior workers called the “Junior Board,” the vice chairman asked them to play the role of delivering the thoughts of LG Electronics’ junior workers, according to LG officials.“The management will then collect the voices of the employees and reflect them when making their decisio
IndustryFeb. 17, 2012
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Samsung Electronics share price hits record high
Share price of Samsung Electronics Co. hit its highest point ever of 1.18 million won per share during trading Friday on strong foreign buying as its Japanese rival Elpida Memory Inc. teeters on the brink of collapse.Samsung Electronics’ share price closed at 1.176 million won per share Friday, up 3.61 percent from the previous day. Market analysts attributed Samsung Electronics’ stock price rally to the expected separation of its liquefied crystal display business, Elpida’s financial troubles a
IndustryFeb. 17, 2012
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Green Non-Life faces suspension or delisting
Regulators ask prosecutors to probe insurer over alleged stock riggingGreen Non-Life Insurance, which has been accused of stock manipulation, faces the possibility of business suspension or delisting from the stock market.Though the insurance firm has been mapping out a plan for management normalization, financial regulators filed a complaint against the firm and its chairman with the prosecution for allegedly rigging stocks.The regulatory sanction could make it impossible for the company to inc
Feb. 17, 2012
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Optimists highlight Korea’s fundamentals
Positive projections regarding Korea’s 2012 economy are drawing interest amid the looming gloomy outlook over major Asian economies.Though the optimists shared the view that Korea could also see a slowdown in economic growth this year, they say the damage would be relatively minimal as the nation’s fundamentals remain competitive.Among the economists positive about the nation’s economy is Anoop Singh, director for the Asia-Pacific department of the International Monetary Fund.Korea’s fundamental
Feb. 17, 2012
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Apple brings iPad features to the Mac
SAN FRANCISCO (AFP) - Apple released a preview version of its new Macintosh operating system on Thursday, bringing some features of the iPad to the personal computer.The Cupertino, California-based company said the updated operating system, called Mountain Lion, will be available to Macintosh develo
TechnologyFeb. 17, 2012
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Remote-controlled chip implant delivers bone drug
WASHINGTON (AP) -- Medication via remote-control instead of a shot? Scientists implanted microchips in seven women that did just that, oozing out the right dose of a bone-strengthening drug once a day without them even noticing.Implanted medicine is a hot field, aiming to help patients better stick
TechnologyFeb. 17, 2012
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KEB suffers network glitch
Korea Exchange Bank saw its network system, including Internet banking and automated teller machines, break down for about 1-1/2 hours late Thursday.Though KEB said it restored the services around 8 p.m., the commercial bank did not reveal the factors for the breakdown.The Financial Supervisory Serv
Feb. 16, 2012
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Foreign law firms rush into Korea
Competition in local legal service market set to intensify on FTAs with U.S. and EUMajor American and European law firms plan to enter the Korean market in the coming months, taking advantage of the free trade agreements and signaling a round of cutthroat competition. Sheppard Mullin, U.S. legal adviser of Samsung Electronics and Hyundai Motor, said in a recent interview with The Korea Herald that it will set up a Seoul office soon. Two other U.S. law firms ― Cleary Gottlieb Steen & Hamilton an
Feb. 16, 2012
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Korea to raise self-supply of oil, natural gas to 35%
Korea will develop on its own 35 percent of its oil and natural gas demands by 2020, up from the current 13.7 percent, the Ministry of Knowledge Economy said Thursday amid U.S. pressure to cut its crude oil imports from Iran. Korea also aims to raise its development rate of six key mineral resources that are critical to the country’s economy ― bituminous coal, uranium, iron ore, copper, zinc and nickel ― from the current 29 percent to 43 percent by 2020. “Korea ranks the lowest in terms of resou
Feb. 16, 2012
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KT&G introduces new Raison
KT&G Corp. plans to roll out a new version of its Raison cigarettes starting Feb. 22, Korea’s largest tobacco company said Thursday.The Raison Aero is designed to provide a refreshing taste for customers by empting the tip of the filter to screen out tar and nicotine, the company said in a statement.The latest product comes in two types, containing 1 milligram and 5 milligrams of tar. It costs 2,500 won a pack ($2.22).(heeshin@heraldm.com)
IndustryFeb. 16, 2012
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Genesis tops dependability ranking in United States
Hyundai Motor’s Genesis was the highest-ranked model in the midsize premium car segment in the 2012 Vehicle Dependability Study conducted by U.S.-based J.D. Power.The VDS, which was released on Feb. 16, measures problems experienced during the past 12 months by the original owners of three-year-old (2009 model year) vehicles.The Genesis received 81 points in the annual test, an all-time low ― which is the best performance ― for Hyundai Motor vehicles in the VDS.The BMW 520d and Mercedes-Benz E33
MobilityFeb. 16, 2012
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Supermarket sales rise as department stores post losses
Sales at Korea’s major discount outlets rose from a year earlier as department stores posted losses in January, mainly due to a drop in demand for clothing, a government report showed Thursday.Sales at the country’s three major discount outlet chains grew 2.7 percent last month from the same period last year, according to the Ministry of Knowledge Economy.The gain at the discount outlet chains ― Lotte Mart, E-Mart and Homeplus ― was largely led by a 4.5 percent increase in sales of household sup
Feb. 16, 2012