Most Popular
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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Contentious grain bill put directly to plenary meeting for vote
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Why is Apple Pay struggling to get purchase in Korea?
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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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[Today’s K-pop] BTS pop-up event to come to Seoul
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Yoon's approval rating plunges to all-time low
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[Graphic News] More Koreans say they plan long-distance trips this year
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Mother of student activist, whose death sparked pro-democracy movement, dies
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Eximbank to invest more despite global slowdown: CEO
The Export-Import Bank of Korea has unveiled its policy to increase its investment in developing natural resources in overseas markets by 900 billion won ($789 million) this year.The state-run bank will pour 2.8 trillion won into enterprises’ exploitation of overseas natural resources in 2012, its chairman and president Kim Yong-hwan told a news conference on Thursday.The figure for the project is a sharp increase from the bank’s investment of 1.9 trillion won in 2011.“European banks are expecte
Jan. 12, 2012
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Medical fees to go down at designated clinics
The government has decided to discount medical fees for people who designate neighborhood clinics as their primary care facilities, the Ministry of Health and Welfare said Wednesday. The new system comes into effect starting in April.Currently, 70 percent of outpatient medical expenses are covered by the national health insurance program, but for those who register a nearby clinic as their primary care unit the coverage will be increased to 80 percent, leaving only 20 percent up to the patients,
TechnologyJan. 12, 2012
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Court says 16 airlines fixed fuel surcharge price
An appeals court here ruled on Thursday in support of the local fair trade watchdog's decision to fine 16 airlines for fuel surcharge price fixing.The Seoul High Court rejected Thai Airways International's demand that the Fair Trade Commission withdraw its 2.1 billion won ($1.8 million) penalty impo
IndustryJan. 12, 2012
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Korean cosmetics maker Genic to start operation in China this year
HONG KONG (Yonhap) -- South Korean cosmetics maker Genic Co. is set to begin operations in China this year in a bid to tap into the world's fastest growing cosmetics market, officials said Thursday.Genic recently obtained approval for a hygiene permit from the Chinese Ministry of Health in order to
IndustryJan. 12, 2012
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Milky Way teeming with 'billions' of planets
This handout picture from the European Southern Observatory is an artist`s impression on how planets are more common than stars in the Milky Way. The new study provides evidence that there are more planets than stars in our own stellar neighbourhood. (AFP)PARIS (AFP) -- The Milky Way is home to far
TechnologyJan. 12, 2012
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Red wine researcher accused of falsifying data
HARTFORD, Connecticut (AP) -- A U.S. university says a researcher known for his work on red wine's benefits to cardiovascular health falsified his data in more than 100 instances. (Bloomberg)Nearly a dozen scientific journals are being warned of the potential problems after publishing the Unive
TechnologyJan. 12, 2012
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Your home’s age important for child lead exposure
WASHINGTON (AP) ― If you’ve been putting off repairing a peeling windowsill, or you’re thinking of knocking out a wall, listen up: Check how old your house is. You may need to take steps to protect your kids from dangerous lead.The risk of lead-based paint from older homes is back in the news, as the government considers tightening the definition of lead poisoning in babies, toddlers and preschoolers. Lower levels than previously thought may harm their developing brains.That’s a scary-sounding m
TechnologyJan. 12, 2012
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Mobile app provides instant nutrition information
If you are at a supermarket, wondering if a food item will make you fat, a new smartphone app by Korea Food and Drug Administration can tell you.The newly released application, New High-fat and Less Healthy Food Alert-e, contains information about the nutritional value of nearly all popular snacks, candies and ice creams. By simply scanning the barcodes on snack packages, the app will automatically tell whether the food is healthy or not. And by inputting a product name or a main ingredient, con
TechnologyJan. 12, 2012
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Women with larger breasts suffer backaches: hospital
Women with larger breasts are more likely to suffer backaches than those with smaller breasts, TnTn Hospital said Monday. According to Cho Tae-yeon, chief of the network hospital specializing in spinal health, larger breasts could pull the torso forward and in the worst case cause a herniated disk. A herniated disk is a condition when the disk between two bones in the spine presses on the nerves around the backbone.“One additional kilogram on the torso, especially in the chest area, could amplif
TechnologyJan. 12, 2012
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NPS to invest $300 million in Chinese stocks
HONG KONG (Yonhap News) ― Korea’s state-run pension fund is seeking to invest as much as $300 million in Chinese stock markets as it looks to diversify assets worth nearly $300 billion, officials said.The National Pension Service said earlier this week that it received the status of “qualified foreign institutional investor” from the China Securities Regulatory Commission.The pension fund service expects to receive a quota ranging from $100 million to $300 million, equivalent to 0.1 percent or l
Jan. 12, 2012
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Ssangyong Motor unveils new LUV Korando Sports
Ssangyong Motor Co., South Korea’s smallest automaker, on Thursday unveiled the latest version of its diesel-powered leisure utility vehicle in a bid to meet growing consumer demand for outdoor leisure activities.The Korando Sports is equipped with a 2.0-liter e-XDi200 diesel engine, which produces a maximum 155 horsepower. The company said the engine has a high fuel efficiency of 15.6 kilometers per liter and six-speed automatic transmission, the carmaker said.“Ssangyong invested 90 billion won
MobilityJan. 12, 2012
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Money supply grows at same pace in Nov.
The growth of Korea‘s money supply remained at the same pace in November of last year as the previous month although it picked up from a year earlier, the central bank said Thursday. Korea’s M2, a narrow measure of the money supply, totaled 1753.3 trillion won ($1.5 trillion) in November 2011, up 4.4 percent from a year earlier, according to the Bank of Korea.The growth speed of November M2 remained unchanged from a 4.4 percent on-year expansion tallied in October, which marked the sharpest grow
Jan. 12, 2012
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Eurozone woes to impact Korea: HSBC
Uncertainties stemming from the eurozone debt crisis are likely to impact the Korean economy, Asia‘s fourth-largest, by sapping overseas demand for local products, HSBC Bank Plc said Thursday.“The uncertainties may have dampening impacts on (Korea’s) export mechanism ... If consumers are cautious, they will buy less goods,” Steven Major, Global Head of HSBC‘s Fixed Income Research, told reporters in a media session.Major said Germany may be an exception that could help offset weakening demand in
Jan. 12, 2012
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Korean fund market dips below 300 trillion won in 2011
Korea’s fund market suffered a setback last year, with its aggregate amount of money parked for stock and bond investment shrinking amid heightened global growth risks and wobbly financial markets, data showed Thursday. According to the data from the Korea Financial Investment Association, the total amount under management of local funds stood at 298.5 trillion won ($257.4 billion) as of the end of December, down 6.3 percent from 318.8 trillion won a year earlier. The latest figure marked the fi
Jan. 12, 2012
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Samsung plans to widen gap with rivals in TV sales this year
Firm targets 15% TV growth, 49.45 million flat-panel TV setLAS VEGAS ― Samsung Electronics expects to widen the gap in television sales with its rivals this year while targeting 15 percent growth from last year, said the head of its digital media and communications.Yoon Boo-keun, who oversees the television and digital appliance divisions at the world’s top technology firm, told reporters the company expects to sell 49.45 million flat-panel TVs, up from 43 million in 2011.“This year’s strategy f
IndustryJan. 12, 2012
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LG aims for two-digit growth in home appliances this year
LAS VEGAS ― An executive at LG Electronics said the company plans to record two-digit growth in home appliances this year and gain product leadership in smart appliances.“We reached a two-digit growth rate last year and we expect to do so again this year,” said Shin Moon-bum, executive vice president of the firm’s home appliances division. “The most important strategy that should be pursued by LG is gaining product leadership. With the design, product planning and the necessary research and deve
IndustryJan. 12, 2012
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HanmiGlobal acquires environmental consulting firm
HanmiGlobal Co., a Korean construction management firm, has agreed to take over local environmental consulting provider Ecosian Co. to shore up its charge into the fledgling industry, officials said Thursday.Under a deal signed Tuesday, HanmiGlobal and its chairman Kim Jong-hoon each will buy a 30 percent share in unlisted Ecosian for 2 billion won ($1.73 million). Ecosian chief executive Eun Jong-hwan will retain the remainder.Launched in 2001, Seoul-based Ecosian has consulted for a slew of pu
IndustryJan. 12, 2012
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Hyundai Motor chief pledges support for Yeosu Expo
Chairman Chung says the event will be the best-ever marine expoHyundai Motor Group chairman Chung Mong-koo on Thursday pledged continued support for the 2012 Yeosu Expo during his visit to the southern coastal town four months ahead of the fair’s opening. Hyundai Motor, one of the biggest sponsors of the expo, will provide cars for the three-month-long expo that kicks off on May 12 and open an exhibition hall spanning some 1,398 square meters.The automaker has been promoting the expo through tel
IndustryJan. 12, 2012
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Citigroup CEO to visit Korea early next month
Pandit may meet with regulatory officials to discuss investmentCitigroup Inc. chief executive Vikram Pandit plans to visit Seoul early next month as part of the global investment bank’s expansion policy in Asia, a source said Thursday. “On the occasion of the U.S.-based financial group’s 200th anniversary of its foundation, CEO Pandit will pay a visit to Korea and several other Asian countries in early February,” the source said.While his coming trip is seemingly focused on the group’s expanding
Jan. 12, 2012
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Samsung, LG fined for fixing prices of home appliances
The state-run antitrust watchdog said Thursday that it has fined local electronics rivals Samsung and LG for fixing the prices of key home appliances. Samsung was fined 25.81 billion won ($22.28 million) and LG 18.83 billion won, according to the Fair Trade Commission. As part of the regulator’s leniency program for first and second declarers, one of the companies will be exempt from the fines, while the other will get 50 percent cuts. The FTC said its investigation started after a voluntary rep
IndustryJan. 12, 2012