Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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SNU researchers transplant pig’s pancreas to monkey
A group of doctors here has successfully transplanted parts of a pig’s pancreas to a monkey, opening the way for new treatments for diabetes in people.Professor Park Sung-heo of Seoul National University College of Medicine and his team said Monday they transplanted the islets of Langerhans, a region of the pancreas, of a number of pigs to eight monkeys, of which four have survived for more than six months without complications. “It is rare even among the same species to experience no noticeable
Social AffairsOct. 31, 2011
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‘Angry Birds’ creator will open its first retail stores in China this year
Rovio Entertainment Oy, the creator of the “Angry Birds” mobile-phone games, will open its first retail stores this year in China, its fastest-growing market. The company aims to hit $100 million in retail sales in China in the first year of store operations, Chief Marketing Officer Peter Vesterback
IndustryOct. 31, 2011
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Korean TV makers nab 50 pct of U.S. market share
SEOUL, Oct. 31 (Yonhap) -- Samsung Electronics Co. and LG Electronics Inc. clinched a combined 50 percent share of the U.S. TV market in the July-September period, an industry report showed Monday, thanks to strong demand for their premium TVs with 3D features and Web connectivity. It marked t
TechnologyOct. 31, 2011
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Heavy drinking tied to higher stomach cancer risk
TechnologyOct. 31, 2011
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Skeptic finds he now agrees global warming is real
WASHINGTON (AP) -- A prominent physicist and skeptic of global warming spent two years trying to find out if mainstream climate scientists were wrong. In the end, he determined they were right: Temperatures really are rising rapidly.The study of the world's surface temperatures by Richard Muller was
TechnologyOct. 31, 2011
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Credit card spending up 10 percent in H1
SEOUL, Oct. 31 (Yonhap) -- South Korea's credit card spending increased nearly 10 percent in the first half of this year from a year earlier, data showed Monday, raising concerns over a possible recurrence of a credit card bubble.Credit card spending by South Koreans reached 261.7 trillion won ($237
Oct. 31, 2011
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S. Korea's industrial output grows 6.8 percent in Sept.
SEOUL, Oct. 31 (Yonhap) -- South Korea's industrial output continued to grow in September from a year earlier, despite persistent uncertainties in the global economy, a government report showed Monday.According to the report by Statistics Korea, production in the mining and manufacturing industries
IndustryOct. 31, 2011
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Number of smartphone users tops 20m
The number of smartphone subscribers in South Korea surpassed the 20 million mark last week, with nearly 40 percent of South Korean residents carrying such mobile devices, according to data from the country’s telecom regulator released Sunday. South Korean smartphone subscribers numbered slightly more than 20 million as of Friday, including 10 million users with industry leader SK Telecom Co., 6.8 million at KT Corp. and 3.3 million at LG Uplus Corp., the data compiled by the Korea Communication
IndustryOct. 30, 2011
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Korea mulls hiking highway, train fares
South Korea will likely raise highway and train service fares by the end of this year following years of unchanged rates aimed at curbing inflation, a source said Friday.The finance ministry and the transportation ministry are currently in the last phase of talks to determine when and by how much they will increase fares for the two major means of transportation, he said.Highway fares will likely increase by less than 3 percent, while those for trains will go up about 3 percent. The hike is expe
Oct. 30, 2011
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Global finance forum to open in Busan
The seventh Busan International Finance Conference will be held on Monday, under the theme of “development strategies for Busan as a global center of cloud computing and outsourcing for financial services industries.”Co-hosts include the Korea Institute of Finance, the International Financial Forum of Pusan National University, the Asia-Pacific Financial Markets Research Center of the University of Hawaii and the Bank of Korea’s Busan branch.“The event will prepare Busan city to play a pivotal r
Oct. 30, 2011
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Hyundai’s car production helps economy in Czech Republic
OSTRAVA, Czech Republic ― It has been more than two years since Hyundai Motor established a large-scale manufacturing plant in the Czech Republic.Apart from the factory’s role as a logistics base for Hyundai’s automobile sales in Europe, an issue has emerged as to whether the Korean company has been gaining favorable image from Czech citizens and its government.Though the automaker’s factory is located in a small city of Nosovice, whose population stays only at about 1,000, it has been playing a
MobilityOct. 30, 2011
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Number of smartphone users tops 20m in S. Korea
The number of smartphone subscribers in South Korea surpassed the 20 million mark last week, with nearly 40 percent of South Korean residents carrying such mobile devices, according to data from the country's telecom regulator released Sunday. South Korean smartphone subscribers numbered sligh
TechnologyOct. 30, 2011
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Stocks likely to gain this week but eurozone jitters remain
The South Korean stock market is expected to continue to gain ground this week but uncertainties from the eurozone debt problems will limit investor sentiment, analysts said Saturday.The benchmark KOSPI closed at 1,929.48 on Friday, up 91.1 points or 4.96 percent from a week earlier. The index was boosted on reports that European leaders reached an agreement on plans to recapitalize banks.Foreigners led the rally by scooping up shares worth 1.7 trillion won ($1.54 billion), while retail investor
Oct. 30, 2011
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Ningbo Baoxin inks cooperation deal with LGE
HONG KONG (Yonhap News) -- Ningbo Baoxin Stainless Steel Co., a Chinese steelmaker, said Friday that it has signed a business cooperation agreement with South Korea’s LG Electronics Co., in a bid to boost their competitiveness in the global market.Under the deal, Ningbo Baoxin Stainless Steel and LG Electronics will strategically cooperate in developing new products and enhance their common vision and interests, the Chinese stainless steelmaker said. Also, the deal calls for Ningbo Baoxin to sup
IndustryOct. 30, 2011
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SK Group supports social enterprises
U.N. chief Ban praises conglomerate as spearhead of social contributionLike most Korean conglomerates, SK Group has been placing increasing emphasis on corporate social responsibility programs in recent years.While most have chosen to do their part through donations, SK Group has focused its efforts on social enterprises under the guidance of chairman Chey Tae-won.According to SK Group officials, Chey believes that simple donations have limited efficacy in solving social problems and that social
IndustryOct. 30, 2011
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SK Group seeks efficient mutual growth
Large and small companies need to break out of the traditional boundaries of the contractor-subcontractor relationship to bring about shared-growth, SK Group chairman Chey Tae-won said Friday.Chey and the heads of major SK Group firms including SKC and SK Networks met with the CEOs of 70 SK Group subcontractors to discuss means to bring about shared growth at a conference in Yongin, Gyeonggi Province.According to SK Group officials, chief executives of SK Group subsidiaries were included in the
IndustryOct. 30, 2011
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Daelim Industrial inks $1.22b power plant deal in Saudi Arabia
Daelim Industrial Co., a South Korean builder, said Sunday that it has signed a $1.22 billion deal to build a power plant in Saudi Arabia.Under the deal with state-controlled Saudi Electricity Co., Daelim Industrial will build the combined-cycle plant by September 2014, the company said.The power plant, with a capacity of 1,200 megawatts, will be built in Shoaiba, some 120 kilometers south of Jeddah.Daelim will design, build and operate the plant, it added.The SEC’s power plant project is aimed
IndustryOct. 30, 2011
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Central bank warns of foreign capital outflows
South Korea’s central bank warned Sunday that foreign capital could flee the country if eurozone debt woes spread into a banking crisis and the U.S. economy sharply slows.“As uncertainty in global financial markets rises, there is a possibility that foreign capital flows will become unstable,” the Bank of Korea said in its semi-annual financial stability report.“In particular, if the eurozone debt crisis hit the region’s banks, thereby accelerating their deleveraging, and the U.S. economy fast c
Oct. 30, 2011
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Shinsegae Group chief’s Twitter account hacked
Shinsegae Group vice chairman Chung Yong-jin’s Twitter account appears to have been hacked by an unknown entity. The hacker sent commercial tweets and spam messages to more than 119,000 of Chung’s followers and even changed the account ID to “@Acaiberry56” from “@yjchung68.”The vice chairman was not aware of the incident until he checked his account the next day on Oct. 29, according to news reports.About an hour after Chung’s explanation, an anonymous Twitter user joined the website again with
IndustryOct. 30, 2011
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Business sentiment falls for November
South Korea’s business sentiment for November fell from a month earlier due to growing global double-dip recession concerns, a poll showed Sunday.The monthly business survey index for the upcoming month came in at 96.4, down five points from the 101.4 forecast for October, according to the survey by the Federation of Korean Industries, the lobbying group of the country’s large businesses.The figure marks the second lowest BSI number this year after the 96.3 reading tallied for September, and the
Oct. 30, 2011