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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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Yoon, Lee end first talks with differences, agree to meet more
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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China outpaces Korea in smaller OLED shipments for 1st time
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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Women more likely to have 'broken heart syndrome'
ORLANDO, Florida (AP) _ Females are seven to nine times more likely to suffer ``broken heart syndrome,'' when sudden or prolonged stress like an emotional breakup or death causes overwhelming heart failure or heart attack-like symptoms, the first nationwide study of this finds. Usually patients reco
TechnologyNov. 17, 2011
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Massive lakes could lie beneath ice of Jupiter moon
A body of water as big as North America's Great Lakes could lie beneath Europa, a shining enigmatic moon of Jupiter, astronomers reported on Wednesday.(NASA)The finding -- if backed by a hoped-for unmanned robot mission -- is exciting, for water is one of the key ingredients for life.Its white
TechnologyNov. 17, 2011
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Facebook warns of recent wave of spam
NEW YORK (AP) _ Facebook said Wednesday that it has stopped most of the spam that has flooded many users' pages with pictures showing graphic sex and violence.The social-networking company urged its 800 million-plus users to remain vigilant to keep their accounts from being hijacked.That includes re
TechnologyNov. 17, 2011
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FSC to decide on Lone Star on Friday
Financial regulators plan to unveil Friday their stance on whether to punish Lone Star Funds for stock manipulation.The Financial Services Commission said Wednesday it would hold an extraordinary meeting, composed of a nine-member panel, on Nov. 18 to discuss detailed ways to order the fund to sell most of its stake in Korea Exchange Bank.The regulator’s meeting is drawing wide interest “in terms of abusing authority or not” as the Supreme Court has yet to rule on whether the FSC should make pub
Nov. 16, 2011
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Job cuts menace local industries on global slump
Korea’s IT, construction, finance and airline industries are swamped with layoffs and job reductions as global economic uncertainties stretch out. IT exporters have been losing money due to the recession in Europe and the U.S., while high oil prices and a weak Korean won against the dollar continue to weigh on air carriers. Korean Air recently decided to let go of about 100 senior employees who signed up for voluntary resignations, a program brought back after five years. The outgoing middle-man
IndustryNov. 16, 2011
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Hyun among top 50 business women: FT
Hyundai Group chairwoman Hyun Jeong-eun has been named one of the Financial Times’ top 50 women in world business, the only Korean who made it to the list, the British newspaper announced on Wednesday. Hyun ranked 48th on the list in recognition of her efforts to run one of the biggest conglomerates in Korea after she was unexpectedly catapulted to the top office of Hyundai when her husband, Chung Mon-hun, committed suicide in 2003. “Hyun has been a steadying force for Hyundai Group and has work
IndustryNov. 16, 2011
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Korea to host 2015 World Water Forum
Korea will be host to heads of state, international organizations, academics and industry experts in the world’s largest water-related event in 2015 to address water supplies and other daunting challenges facing mankind. The government said Wednesday that Daegu and adjacent North Gyeongsang Province have been named hosts of the triennial World Water Forum, routing Scotland’s Glasgow.Launched in 1997, the forum is aimed at underscoring the significance of water as a policy agenda and devising col
IndustryNov. 16, 2011
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Samsung to hire IRS expert
Samsung Electronics said Wednesday it was likely to hire a senior official from the U.S. Internal Revenue Service.A Samsung Electronics official said that the company was in talks with Victor Song, chief of the IRS Criminal Investigation, to give him a seat on Samsung’s compliance team at its U.S. unit.“It’s true that the talks are progressing on the hiring (of Victor Song), but it is yet to be finalized,” said a company spokesman. “But there is a high possibility it will be.”The official also s
IndustryNov. 16, 2011
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E-Mart okayed to acquire Kim’s Club Mart
The Fair Trade Commission on Wednesday gave the green light to E-Mart, the nation’s No. 1 supermarket chain, to acquire Kim’s Club Mart’s 53 outlets.The antitrust regulator said the acquisition will have a limited impact on the existing competition of super supermarkets, or SSM. “There was less than 3 percent increase in E-Mart’s market share within the SSM sector following the acquisition,” said a FTC official.When it comes to small vendors in the neighboring business districts, the FTC also sa
IndustryNov. 16, 2011
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FSS to spin off consumer protection unit
An independent watchdog aimed at strengthening the rights of financial consumers will be set up during the first half of 2012, after a decision by the Financial Services Commission on Wednesday.At the nine-member panel discussion, the FSC decided to spin off the department in charge of consumer protection from the Financial Supervisory Service, an executive arm of the FSC.FSS Gov. Kwon Hyouk-se, who took his office as the top regulator in March, finalized the move for a larger consumer protectio
Nov. 16, 2011
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‘Hygienic’ spoons, chopsticks hit shelves
A company named Kitchen Idea said Wednesday it began sales of children’s spoons and chopsticks specially designed for hygiene purposes.A curve in the middle keeps the spoon head and tips of chopsticks from touching the table, preventing contact with germs and dirt. The new children’s cutlery sets made of stainless steel come in three different designs priced at 6,000 won or 7,000 won per pair. Spoon-and-chopstick sets for adults are also available.Kitchen Idea has applied for a patent for the cu
IndustryNov. 16, 2011
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Seoul shares close down 1.59% on European debt woes
South Korean stocks finished 1.59 percent lower on Wednesday as investor sentiment was muted by the persistent debt crisis in Europe, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 30.05 points to close at 1,856.07. Trading volume was moderate at 402 million shares worth 5.58 trillion won ($4.91 billion) with losers outpacing gainers 631 to 190.“Concerns about Italy’s and Spain’s government bonds weighed on the market,” said an
Nov. 16, 2011
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Gov’t to back SMEs for research projects
The government plans to shore up small- and mid-sized enterprises for their investment in research and development to expedite their growth and fend off the workforce exodus to large companies, officials said Wednesday.The Ministry of Knowledge Economy will boost subsidies for SMEs to 40 percent of its R&D budget by 2015 from last year’s 26 percent, said Chung Yang-ho, head of the ministry’s industrial technology policy division.Currently, the ministry spends about 4.5 trillion won ($4 billion)
IndustryNov. 16, 2011
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Local banks’ bad debt ratio up in third quarter
The bad debt ratio for South Korean banks’ household loans rose in the third quarter from three months earlier as the economic slowdown and the slumping property markets spurred fresh loan delinquency, the financial watchdog said Wednesday.Local banks’ non-performing household loans accounted for 0.67 percent out of their total lending as of the end of September, up 0.11 percentage point from three months earlier, according to the Financial Supervisory Service.The bad loan ratio for bank mortgag
Nov. 16, 2011
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Sony bans Korean teens from online gaming
Controversy surrounding the country’s game shut-down system, also known as the game curfew, is escalating as it is seemingly expanding its boundaries to console games like Sony’s PlayStation and Microsoft’s Xbox.Sony Computer Entertainment Korea said earlier this week that it will ban those under 16 from logging into their PlayStation games starting from 11 p.m. Friday to comply with the Korean regulation.“Our head office has decided to prohibit the log-in and accepting new registration of users
IndustryNov. 16, 2011
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Korea deserves higher sovereign rating: HSBC
Researcher points to nation’s capability to cover external debt, ample foreign reservesCredit rating agencies should raise their sovereign credit ratings of Korea to better reflect its improved ability to finance external debt, Frederic Neumann, co-head of Asia research team at HSBC said Wednesday. Commenting on Korea having the same rating Italy at Standard & Poor’s and Fitch Ratings, the Hong Kong-based economist said the ratings shared by the two at those agencies don’t accurately reflect the
Nov. 16, 2011
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Ssangyong Motor exports to set milestone this year
Carmaker projects exports to reach 63,169 units in Jan.-Oct. periodSsangyong Motor is projected to post record export performance this year, taking the lead in the growth of overseas sales among carmakers in Korea.The company saw its exports reach 63,169 units for the first 10 months of 2011, up 61.3 percent from 39,158 units over the corresponding period a year earlier.Company executives predict that exports per annum will come to 75,000 units this year. The carmaker’s current record-high figu
MobilityNov. 16, 2011
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The brave new world of frontier economics
We have entered what might be called the era of “frontier economics.” As older, easier sources of economic growth are drying up, the prospects for continued dynamism and prosperity hinge more than ever before on pioneering entrepreneurial start-ups to explore and extend the technological barrier. This puts national economies under a constant pressure to knock down artificial barriers to competition. In other words, in their search for economic growth, countries need to make their economies more
Nov. 16, 2011
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Quality of red ginseng matters most: CEO
Sam Heung aims to become Korean pride in the global marketThe domestic market for red ginseng is estimated to reach 1.2 trillion won ($1 billion) this year, driven by its growing popularity among health-conscious Koreans. With the state-run Korea Ginseng Corp. enjoying more than 75 percent of the market, Sam Heung has been in a “David and Goliath” battle for the past 14 years. “The market has recently become a battle field for large latecomers. There has been no easy period for us,” CEO Youn Chu
IndustryNov. 16, 2011
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Keen video-gamers' brains may reward them more
TechnologyNov. 16, 2011