Most Popular
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Frozen gimbap sold at Trader Joe's makes triumphant debut in home market
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Yoon accepts broadcasting watchdog chief's resignation ahead of impeachment motion
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S. Korea, US, Japan, Australia jointly announce sanctions on NK
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S. Korea successfully launches 1st spy satellite into orbit
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[Weekender] Can't get a date? Try a temple ... or city hall
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[Herald Interview] ‘Our Season’ Kim Hae-sook wants to play mothers of all kinds
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Ateez closes 1st chapter of career with 'The World Ep. Fin: Will’
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SK chief suggests Korean, Japanese businesses form ‘union’ to overcome global crisis
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Yoon vetoes contentious pro-labor, broadcasting bills
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[Today’s K-pop] BTS member Jungkook’s ‘Golden’ 4th most-streamed on Spotify this year
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NATO to formally end Libya operations Oct 31
BERLIN (AP) _ NATO's secretary-general says the alliance will on Friday confirm a decision to end its operations in Libya by Oct. 31.Anders Fogh Rasmussen said Thursday after meetings in Berlin with German Chancellor Angela Merkel that the U.N.'s resolution adopted earlier in the day “reflects
Oct. 28, 2011
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Samsung Electronics Q3 net plunges 23 percent
Samsung Electronics Co., the world's top memory chip supplier and second-biggest handset maker, said Friday that its third-quarter earnings declined 23 percent from one year ago, hurt by a slow recovery in consumer electronics markets worldwide. Net profit reached 3.44 trillion won (US$3.09 billion)
IndustryOct. 28, 2011
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Korea’s economy shows no sign of pickup in growth
GDP rises 3.4 percent in Q3 from year earlier, slowest in 21 monthsSouth Korea’s economy failed to show a meaningful sign of improving in the third quarter, hurt by lackluster consumer spending and weaker capital investment, Bank of Korea data showed on Thursday. According to the advance estimate of the BOK, the country’s gross domestic product grew 3.4 percent in the July-September period from a year earlier, marking the slowest pace in 21 months. The on-quarter GDP growth slumped to 0.7 perce
Oct. 27, 2011
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Merck files pigment patent suit against two Korean companies
Merck Patent GmbH, the intellectual property arm of the chemicals and pharmaceutical group, said Thursday it has filed a lawsuit in Korea against CQV Co. and Sungmin Chemicals, claiming the two local firms infringed upon its patents for pigment technology.The Darmstadt, Germany-based company had attempted to resolve the patent issue with CQV after claiming that the Korean firm’s pearl luster pigments used to create unique gold color effects for cosmetics copied its products. Sungmin distributes
IndustryOct. 27, 2011
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POSCO pledges W260 billion for ventures and small firms
POSCO will set up a 260 billion won ($230 million) fund to support shared-growth between large and small companies.The plans were announced at the company’s Idea Marketplace event in Seoul on Thursday.Of the 260 billion won, 160 billion won will be used for profit sharing and 50 billion won will be operated by the Large and Small Business Cooperation Foundation. The fund will also include 30 billion won for supporting establishment of venture companies and 20 billion won to help companies with d
IndustryOct. 27, 2011
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KT tablet targets middle-aged
KT, the nation’s No. 1 telecom services provider, said Thursday that it will launch a new Samsung tablet PC specially designed for middle-aged users, housewives in particular, on Oct. 31. KT has developed the Smart Home Pad with Samsung Electronics and inked an exclusive deal to stock the new Galaxy Tab 8.9 for the next year. “People in their 40s and 50s may have had difficulty using smart devices,” said Seo Yu-yeol, president of home business at KT, in front of about 100 invited housewives. “Sm
IndustryOct. 27, 2011
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Number of holding firms grows: watchdog
The number of holding companies in South Korea grew over the past year as businesses continued efforts to streamline their corporate governance structure, the corporate watchdog said Thursday.The number of holding firms in South Korea stood at 105 as of end-September, up 9 from the same period a year earlier, according to a report by the Fair Trade Commission. Over the period, 24 firms were added to the list, while 15 were taken off. Of the total, 13 are financial holding companies, while the re
Oct. 27, 2011
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Foreign exchange rates, rising costs dent local companies’ Q3 figures
Fluctuating foreign exchange rates and Europe’s financial instability dampened Korean firms’ performances in the third quarter.According to the financial information provider Fn Guide, 62 percent of listed companies that have posted net profits for the period by Wednesday, saw their net profits fall or move into the red.As of Wednesday, 91 listed firms posted third-quarter figures, of which 79 disclosed their net figures.Of the 79, seven companies including Korea Air, LG Display and LG Electroni
Oct. 27, 2011
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Seoul shares up 1.46% on Europe bailout plan
South Korean stocks rose 1.46 percent on Thursday as investors were buoyed by a set of bailout measures agreed on by European policymakers and financialinstitutions. The local currency shot up against the U.S. dollar.The benchmark Korea Composite Stock Price Index soared 27.73 points to a near three-month high of 1,922.04. Trading volume was heavy at 410.4 million shares worth 7.82 trillion won ($7.02 billion), with gainers far outnumbering decliners 594 to 234.“Market watchers are split on the
Oct. 27, 2011
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GS Caltex finishes polymer plant in China
GS Caltex Co., South Korea’s second-largest refiner, said Thursday that it has completed a polymer compound plant in eastern China that will help the company further tap into the world’s second-largest economy.The plant, located in Suzhou, Jiangsu Province, has begun commercial operations with an annual output of 37,000 tons of polymer compounds, the company said. Polymer compounds are functional plastics widely used for making cars and home appliances.GS Caltex said that global manufacturing fi
IndustryOct. 27, 2011
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Moody’s keeps ‘A1’ sovereign rating for Korea: official
Moody’s Investors Service reaffirmed its “A1” sovereign rating with stable outlook for Korea, citing the nation’s strong fiscal status and ample foreign exchange reserves, a Finance Ministry official said Thursday. The rating agency is said to have assessed the strength of the economy by sending a delegation to the Finance Ministry and Financial Supervisory Services earlier this year, where it decided to maintain its fifth-highest rating for Asia’s fourth largest economy.“In accordance to its re
Oct. 27, 2011
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Software development plan unveiled
The government announced Thursday that it will build the country’s first meister high school specializing in software and create a software bank as part of its efforts to boost the nation’s competitiveness in the software industry.In a meeting chaired by President Lee Myung-bak, the Ministry of Knowledge Economy unveiled its plan, divided into 11 policy tasks, to establish an ecosystem for the software industry.The announcement takes place after global players like Apple and Google Inc. have bee
IndustryOct. 27, 2011
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Chinese Vice Premier Li meets LG, Kumho chairmen
China’s Vice Premier Li Keqiang met LG Group chairman Koo Bon-moo during Li’s visit to the flagship unit’s research and development campus in southern Seoul on Thursday.Becoming the only company on Li’s list during his two-day visit to Seoul, Li exchanged views with Koo on LG’s high-end IT products, such as the Cinema 3-D television which is among the products gaining popularity in China, according to LG officials.Li also viewed the research facilities for LG’s home appliances, including smart r
IndustryOct. 27, 2011
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Thai flood impact on air travel limited
Thailand’s flood crisis deepened this week as floodwaters advanced into Bangkok, forcing authorities to shut down the capital city’s second-largest airport, but its impact on Korean travelers will likely remain limited, airline officials said Thursday.Major Korean carriers have not seen delays or cancellations of flights due to floods and have not experienced noticeable drops in occupancy rates, officials said, although they have been closely following the Southeast Asian country’s worst natural
IndustryOct. 27, 2011
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‘Venture renaissance’ and lessons from Silicon Valley
The following was contributed by Seo Seung-won, director general at Business Start-up and Venture Bureau at the Small and Medium Business Administration. ― Ed. On Oct. 6, Apple’s Board of Directors made the official announcement of the death of tech-giant Steve Jobs, who brought a whole new level of technology experience to human beings in our generation. He is a historical figure who started the popularization of personal computers in the 1970s with the Apple II series. The ex-CEO later opened
Oct. 27, 2011
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Hyundai Motor’s Q3 net profit jumps 21%
Hyundai Motor Co., the world’s fifth-largest carmaker by sales, posted a 21 percent jump in net profit in the third quarter Thursday.The figure was in line with the market consensus on continued popularity of its sedans and SUVs in China, the U.S. and Europe. The company reported 1.92 trillion won ($1.7 billion) of net income for the June-September period, up from 1.59 trillion won a year earlier.The result is expected to cap the company’s most profitable year and beat sales of its rival firm To
Oct. 27, 2011
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Hyundai, Kia focus on quality in Europe
Korean carmakers seek sustainable growth rather than blind pursuit of market shareFRANKFURT, Germany ― Hyundai Motor and its affiliate Kia Motors overtook Toyota Motor in their combined sales in the European market in 2010. The Korean carmakers’ aggressive sales marketing may catapult them to the level of Volkswagen and BMW in Europe. But the Hyundai Motor Group turned its eyes from market share to quality control. “Separately, Hyundai is expected to surpass the Japanese competitor in European m
MobilityOct. 27, 2011
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Ministry selects 99 specialized hospitals
The Ministry of Health and Welfare designated 99 hospitals as “specialized hospitals” guaranteed by the government. The selected hospitals deal with the areas of joints, cardiovascular, colorectal, cardiac, alcoholism, breast, gynecology, rehabilitation, orthopedic, stroke and replants. Such hospitals will be able to promote themselves as specialized hospitals for three years. It is illegal for other institutions to claim to specialize in these areas. The designation will be reviewed once more f
TechnologyOct. 27, 2011
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St. Mary’s opens pulmonary hypertension center
The Seoul St. Mary’s Hospital opened a pulmonary hypertension center last week. According to the Mayo Clinic, pulmonary hypertension is a type of high blood pressure that affects only the arteries in the lungs and the right side of your heart. It is considered a serious illness that deteriorates progressively and is sometimes fatal. “But pulmonary hypertension has become controllable thanks to new drugs and treatments introduced every year. What we need is a close watch and consultation,” the ho
TechnologyOct. 27, 2011
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Talk of ban on mercury concerns scientists
LONDON (AP) ― Scientists are warning officials negotiating a global treaty on mercury that banning the deadly chemical completely would be dangerous for public health because of the chemical’s use in vaccines.The ban option is one of several proposals on the table for a meeting later this month in Nairobi, but a final treaty isn’t expected until 2013.According to the World Health Organization, mercury is one of the top 10 chemicals of public health concern and is highly toxic. Most of the worry
TechnologyOct. 27, 2011