Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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US 'incredibly concerned' about suspected NK-Iran military ties
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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[Kim Seong-kon] Democracy and the future of South Korea
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Why is Apple Pay struggling to get purchase in Korea?
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Yoon's office denies considering liberal figures for key posts
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Seoul says Fu Bao loan 'not going to happen'
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Regulators plan to fuel growth to ETF market
Retirement and pension funds may be allowed to engage in ETF to nurture long-term investmentKorea’s financial regulators plan to nurture the fledgling ETF market by allowing pension and retirement funds to engage in the investment vehicle in question as part of efforts to encourage long-term investment practices. The country’s financial regulators led by the Financial Services Commission are reviewing options aimed at giving an impetus to the ETF market starting from early next year. ETF, or exc
Dec. 25, 2011
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Self-employed biz lending accounts for 33.9 percent of SME loans
The amount of money borrowed by self-employed entrepreneurs accounted for 33.9 percent of all loans taken out by small and medium enterprises, data showed Sunday, raising worries it may weigh on government efforts to curb private sector debt.Korean lenders extended loans worth 157.9 trillion won ($137.4 billion) to self-employed business-people as of the end of November, from a total of all SME loans that reached 465.2 trillion won, according to the data from the Financial Supervisory Service.Th
Dec. 25, 2011
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Korean businesses bracing for escalating uncertainties
Korea is girding itself for a series of external uncertainties surrounding its economy that are expected to reach their peak in the first quarter of next year, officials said Sunday.Amid a global economic slowdown, the bulk of sovereign debts issued by five highly indebted eurozone countries will mature during the January-March period, the most serious risk factor that could rattle financial markets across the globe.Washington’s additional sanctions on Iran for the latter’s suspected nuclear arm
Dec. 25, 2011
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Shares likely to gain ground on improving U.S. data
South Korean stocks will likely continue to gain ground this week as improving U.S. economic indicators are expected to bolster investor sentiment, analysts said Saturday.The benchmark KOSPI rose about 1.5 percent last week to close at 1,867.22 on Friday. The rise came despite a plunge on Monday caused by news of the death of North Korean leader Kim Jong-il.Investors were spooked by heightened geopolitical risks, but soon turned their focus more to economic news coming from the U.S. and Europe.S
Dec. 25, 2011
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Major Korean firms’ hiring to edge down in 2012: poll
Major Korean companies are forecast to cut their hiring of new employees only slightly next year despite increasing economic uncertainties and a possible slowdown, a poll showed Sunday.According to the survey by the Korea Chamber of Commerce and Industry, 262 companies plan to hire a combined 28,412 people in 2012, down a mere 1.3 percent, or 365, from this year.The survey covered the country’s top 500 companies by sales, of which 325 responded, the KCCI said.“Despite all the negative economic f
Dec. 25, 2011
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Dividends to foreigners to top W9tr
Investors may demand bigger payments next year for losses from eurozone debt crisisForeign investors are expected to reap more than 9 trillion won ($8 billion) in dividends on the South Korean bourse this year, data showed Sunday. In contrast, Korean investors are likely to see their dividend income from foreign firms standing at less than 4 trillion won, illustrating the widening gap that raises the issue of lopsided dividend payout involving foreign investors. According to the Bank of Korea, o
Dec. 25, 2011
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Volvo’s new plug-in-hybrid available late 2012
STOCKHOLM (DPA) ― Volvo is planning to extend its model line-up with a V60 Plug-in-Hybrid that will be available as a limited edition late next year, according to the manufacturer.The Pure Limited Version, with a production run of 1,000 units,will be available in Europe starting at 57,000 euros ($74,300), some 5,000 euros higher than for the basic diesel version.Among the standard features are the paint work in “electric silver”with high-gloss black elements, aero dynamically formed 17-inch allo
MobilityDec. 25, 2011
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Toyota sales may rise 20 percent on recovery from disasters
Toyota Motor Corp. said its vehicle sales may rise the most in at least 12 years in 2012 as Asia’s biggest carmaker recovers from production disruptions caused by Japan’s March earthquake and Thailand’s record flooding.The maker of Prius hybrid cars may boost global deliveries 20 percent to 8.48 million vehicles from an estimated 7.05 million in 2011, it said in a statement today. The forecast excludes Toyota’s Hino Motors Ltd. and Daihatsu Motor Co. units.Toyota, poised to lose its crown as the
MobilityDec. 25, 2011
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Car exports, imports up despite economic woes
Hyundai-Kia’s exports to surpass 2m units; import car sales to top 100,000 units in 2011The overall automotive industry of Korea posted robust sales growth in 2011, despite global economic woes in the wake of the eurozone debt crisis.Korean companies, such as Hyundai Motor and Kia Motors, saw exports surge and foreign companies, including BMW and Mercedes-Benz, expanded their presence in the local market.As for German and Japanese brands, Hyundai and its affiliate Kia have been recognized as pow
MobilityDec. 25, 2011
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Entertainment industry overheats
The number of people making a living off the entertainment industry surged 40 percent last year, a sign that more wannabe stars are betting on the booming industry. Those who registered themselves as an actor, singer, model or a TV personality exceeded 170,000 in 2010, the National Tax Service said,
Dec. 25, 2011
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Foreign exchange reserves hit new high
Dec. 25, 2011
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Targeted cyber attacks to rise further -- Symantec
TechnologyDec. 25, 2011
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France to pay for removal of risky breast implants
PARIS (AP) -- France took a costly and unprecedented leap Friday in offering to pay for 30,000 women to have their breast implants removed because of mounting fears the products could rupture and leak cheap, industrial-grade silicone into the body.Tens of thousands of other women elsewhere in Europe
TechnologyDec. 25, 2011
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Apple unlikely to win German ban on Samsung Galaxy 10.1N
Apple Inc. is unlikely to win a ban on sales of Samsung Electronics Co.’s Galaxy 10.1N tablet computer, a modified version introduced after sales of the original tablet were blocked, a German court said.The Dusseldorf court that banned sales of the Galaxy 10.1 on Sept. 9 is unlikely to grant Apple an injunction against the Galaxy 10.1N, presiding judge Johanna Brueckner-Hofmann said at a hearing Thursday. Samsung has changed the device’s design sufficiently to distance it from the iPad, she said
TechnologyDec. 23, 2011
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Ex-BMW official to head design for Hyundai cars
Hyundai Motor tops German quality report for second consecutive yearHyundai Motor said Friday that former BMW designer Christopher Chapman will lead the carmaker’s global design initiative as chief designer at the Hyundai America Technical Center Inc. in the U.S.Chapman takes over from Philip Zak, who joined Hyundai Motor from General Motors in 2009 and recently returned to GM.The company expects that Chapman will strengthen Hyundai’s new automobile design and support the ongoing regeneration o
MobilityDec. 23, 2011
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Hanjin Group’s shipping unit selling shares of affiliates
Hanjin Shipping said Friday it sold off its entire stake in Hanjin Group’s de facto holding company Jungseok Enterprise Ltd., raising speculation over the shipping firm’s possible separation from the conglomerate.Hanjin Shipping has been selling its shares in major affiliates of Hanjin Group such as Hanjin Travel, which holds a 22.26-percent stake in Jungseok Enterprise.After selling a 14-percent stake in Hanjin Travel for 12 billion won earlier this month, Hanjin Shipping sold a 2.22-percent st
IndustryDec. 23, 2011
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N.K.’s economic dependence on China expected to deepen
North Korea’s economic dependence on China is expected to deepen following the death of its leader Kim Jong-il, making the North’s economy more “subordinate” to its strongest ally, experts said Friday.North Korea’s reliance on China for trade already increased in the past few years after South Korea cut almost all business relations with its communist neighbor and the international community banned commercial trade with the country because of its nuclear ambitions.According to the report by the
Dec. 23, 2011
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Ministry, BOK share need to reduce market volatility
South Korea should reduce currency market volatility and expand trade-related financing in order to help local exporters better cope with toughening overseas business conditions, the Finance Ministry and the central bank said Friday.The view was shared at a monthly meeting between the ministry and the Bank of Korea on the nation’s macroeconomic policy direction. They have held the monthly meetings since July.“We shared the view that policy authorities need to work to improve export conditions fo
Dec. 23, 2011
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Forex market faces bumpy road ahead
Korea’s foreign exchange market is expected to undergo a tough first quarter in 2012 as the Korean won is likely to weaken amid lingering eurozone woes and a current account deficit, market watchers said Friday.Global uncertainties stemming from Europe’s debt crisis and a U.S. economic slowdown weighed on the local currency this year.After strengthening to a yearly high of 1,050 won to the U.S. dollar on July 27, the won depreciated 12.2 percent to a yearly low of 1,196 won on Sept. 26.Experts s
Dec. 23, 2011
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Orion to expand production facilities in China
HONG KONG (Yonhap News) -- Orion Corp., South Korea‘s second-largest confectionery company, will expand its production facilities in China to meet growing demand there, company officials said Friday.China now accounts for more than 80 percent of the company’s overseas sales, thanks to the robust growth of confectionery sales in the world‘s No. 2 economy.The company, best-known for its hallmark “Choco Pie,” will increase its production lines in China from the current 46 to 150 by 2015. Of that 15
IndustryDec. 23, 2011