Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Seoul shares fall 1.41 percent on fading eurozone optimism
South Korean stocks closed 1.41 percent lower on Tuesday as remarks from Germany dampened investor hopes on the eurozone debt crisis resolution ahead of a European Union summit later this week, analysts said. The local currency fell against the U.S. dollar.The benchmark KOSPI slumped 26.28 points to
Oct. 18, 2011
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Foreign banks mixed on Korea rate outlook
Major foreign investment banks forecast South Korea’s central bank to freeze its key interest rate for the remainder of the year, while some expect a rate hike or a cut, a report showed Tuesday.The Bank of Korea froze the benchmark rate at 3.25 percent in October for the fourth straight month as sig
Oct. 18, 2011
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Card issuers expected to reap huge profits from loan services
South Korean credit card firms are expected to rake in huge profits this year from their loan services as more cardholders take out cash advances on their credit cards amid tightened lending regulations, industry sources said Tuesday. Credit card companies posted a combined profit of 679 billion won
Oct. 18, 2011
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Samsung Fire expands sales in China
Samsung Fire & Marine CEO Chi Dae-sub (second from left, front row) poses at an event to celebrate the opening of a branch in Tianjin, China. (Samsung Fire & Marine)Samsung Fire & Marine Insurance, which holds about 30 percent of the Korean non-life insurance market, has been active in tapping the C
Oct. 18, 2011
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Hana pushes to cut KEB price
Chairman Kim Seung-yu visits U.S. to woo investorsHana Financial Group is expected to launch actions to placate opponents of the group’s planned takeover of Korea Exchange Bank from Lone Star Funds.Hana spokespeople said the move will come after the Financial Services Commission orders Lone Star, co
Oct. 18, 2011
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GS Caltex strives to achieve shared growth
Korea’s No. 2 refiner scales up cash payments, low-interest loans and technical training for suppliersGS Caltex, the country’s second-largest oil refiner, is stepping up efforts to support its small vendors and suppliers as it strives to create a level playing field in Asia’s fourth-largest economy.
IndustryOct. 18, 2011
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Hanwha Group to plant forest in Mongolia
Hanwha Group, which is developing solar power as a future growth engine, is lending a helping hand to the fight against desertification.The Korean conglomerate, which sponsored the United Nations Convention to Combat Desertification meeting in Changwon, South Gyeongsang Province in October, is condu
IndustryOct. 18, 2011
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Hanwha looks to solar power to fuel growth
Conglomerate is working on additional production facility for solar power equipment in ChinaHanwha Group’s vertical integration of its solar power businesses is nearing completion as it seeks to take on the growing global market for solar energy and develop the business into a growth engine for the
IndustryOct. 18, 2011
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Apple sells 4M-plus new iPhone models in 3 days
The Leon Guerrero family, on vacation from Dallas, show off their new Apple iPhone 4S phones they purchased at a Sprint store in San Francisco. Apple said Monday, Oct. 17, 2011, it sold more than 4 million units of the new iPhone model in three days. It's selling more than twice as fast as the previ
TechnologyOct. 18, 2011
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Trade surplus with 5 FTA signatories more than doubles
SEOUL, Oct. 18 (Yonhap) -- South Korea saw its trade surplus with five economic entities with which it has free trade agreements(FTAs) more than double last year as trade volumes with them surged on the back of the deals, a report showed Tuesday.According to the report compiled by the trade ministry
Oct. 18, 2011
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Jeonse giving way to monthly rent: report
Nearly half of all tenants in South Korea have signed up for a monthly rent contract, a report showed on Monday, underscoring the shift in tenancy agreements accelerated by a prolonged period of low interest rates and stagnant property prices. According to Real Estate 114, the proportion of the mont
Oct. 17, 2011
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Samsung widens campaign to ban iPhone 4S sales
Samsung heir apparent attends Steve Jobs’ memorial in the U.S.Samsung Electronics said Monday it filed for a sales ban on Apple’s latest smartphone in Japan and Australia, while its heir apparent Lee Jae-yong visited the U.S. to attend the memorial service of Apple’s late co-founder, Steve Jobs.The
IndustryOct. 17, 2011
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Credit card firms to cut transaction fees
Regulator’s move to promote ‘shared growth’ is met with protestKorea’s major credit card firms said on Monday they would slash the transaction fees they collect from small merchants as a reluctant response to the growing calls for a rate cut to bolster their shaky profits amid regulatory pressure. S
Oct. 17, 2011
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Deal to boost exports of local parts, materials
Korea’s parts makers are set to expand supplies to U.S. industrial giants Caterpillar and Applied Materials Inc., as well as Samsung Electronics as part of a government program for shared growth.The Ministry of Knowledge Economy said Monday it has signed two agreements to shore up cooperation betwee
IndustryOct. 17, 2011
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New KEPCO head pledges to bring financial soundness
The new chief executive of the Korea Electric Power Corp. vowed on Monday to improve the company’s financial structure as a primary goal for his three-year term.Kim Joong-kyum, a former head of Hyundai Engineering & Construction Co., took office at the state-run utility a month ago.“Financial soundn
IndustryOct. 17, 2011
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Chung stresses partnership with Georgia government
Hyundai Motor Group chairman Chung Mong-koo (right) greets U.S. Georgia Gov. Nathan Deal who visited the Korean carmaker’s headquarters in southern Seoul on Monday. (Hyundai Motor)Hyundai Motor Group chairman Chung Mong-koo stressed partnership with Georgia Gov. Nathan Deal in the company’s welcomin
IndustryOct. 17, 2011
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Cash dries up at Korea’s big businesses
Surplus cash flow halves, corporate borrowing surgesDespite repeated assurances from government officials, fears of a global recession are hurting Korea Inc. on liquidity as many large firms face worsening cash flow, data showed Monday.The annual excess cash flow forecast of 83 listed firms stood at
IndustryOct. 17, 2011
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Prudential Korea values insurance customers’ needs
Prudential Life Insurance Company of Korea has been gaining consumers’ confidence by prioritizing customer needs in its product development and sales.The insurance firm pushes ahead with sales through “life planners,” while many companies heavily resort to ready-made products via sales channels such
Oct. 17, 2011
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Even peaceful unification would raise risks: S&P
Credit rating agency reaffirms Korea sovereign ratingCredit rating agency Standard & Poor’s projected a bleak view for the Korea in a post-reunification scenario, predicting that the government would suffer heightened policy risks even under peaceful circumstances.In its annual seminar in Seoul, the
Oct. 17, 2011
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Korean aviation market to grow rapidly in next decades: Airbus
South Korea’s air transportation market will see robust growth in the next two decades largely due to growing demand for large-size aircraft for passenger traffic, a European aerospace company said Monday.“We foresee that the South Korean aviation market will have a demand for 382 new aircraft over
IndustryOct. 17, 2011