Most Popular
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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[Weekender] How DDP emerged as an icon of Seoul
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Today’s K-pop] NewJeans' single teasers release amid intrigue
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Sales of Samsung 3-D TVs plunge in China
South Korean electronics behemoth Samsung Electronics Co. is suffering a decline in sales of its 3-D TVs in China due to increased competition, an industry report showed Tuesday.According to the report by market research firm DisplaySearch, Samsung Electronics accounted for 9.3 percent of the 3-D TV
IndustryAug. 23, 2011
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Exports to Libya plummet 88 percent
Korea’s exports to Libya dove nearly 88 percent between January and July in the wake of a civil war that has pummeled the North African economy, a report showed Tuesday.According to the Korea International Trade Association, Korean exporters shipped a mere $119 million worth of goods to Libya in the
Aug. 23, 2011
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‘Jeonse’ deposits exceed 50% of home prices
“Jeonse” prices soared in the metropolitan area to exceed half the value of new homes last month, research found Tuesday. The lump sum deposit that a tenant has to pay to the landlord reached 50.1 percent of home prices last month, the highest since 2006, research firm Real Today said. A passe
IndustryAug. 23, 2011
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Fiscal woes may hit key sectors
Ratings agency expects chip, construction, savings bank sectors to sufferKorea’s construction and semiconductor industries could be severely damaged by fiscal woes in Europe and the United States, a local credit rating company predicted.Industries vulnerable to external shocks picked by NICE Investo
Aug. 23, 2011
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BOK to open Shanghai office later this year
South Korea’s central bank said Tuesday that it plans to open an office in Shanghai later this year in a bid to better monitor the Chinese markets and brace for the financial market opening there.The Bank of Korea said it plans to dispatch two employees on Wednesday to an envisioned office in Shangh
Aug. 23, 2011
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Officials pressed brokerages to alter economic reports
The government pressured brokerage houses to change their outlook on the Korean economy in their reports from “gloomy” to “positive,” financial industry sources said.The move has sparked fury from some economists and analysts who said the “nonsensical” intervention encroached on the independent rese
Aug. 23, 2011
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Homo erectus was first master of the kitchen: study
WASHINGTON (AFP) -- The first ancestor of modern humans to have mastered the art of cooking was likely homo erectus, which evolved around 1.9 million years ago, according to a US study published Monday.The ability to cook and process food allowed homo erectus, the Neanderthals and homo sapiens to ma
TechnologyAug. 23, 2011
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Most students drink to get drunk: study
The majority of people, particularly college students, drink alcohol not because of its taste, but to get drunk, a study found. “They intend to get intoxicated,” Scott Geller, a psychologist and professor from the University of Virginia, was quoted as saying by USA Today. (MCT)Although the indi
TechnologyAug. 23, 2011
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Bargain hunters push stock trade to record high
Bargain hunters jumping into stocks to take advantage of the sharp downturn in the market drove the number of active stock trading accounts to a record high level in the past week, the Korea Financial Investment Association said Monday. A total of 122,786 trade accounts have been created this m
Aug. 22, 2011
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Online sales of gold items rise sharply
A growing number of Koreans are turning to online retailers to purchase gold items at cheaper prices amid skyrocketing prices of pure gold here. G-Market, a leading online retailer, said Monday that its sales of solid gold items had increased almost sevenfold as of Aug. 15 compared to the same perio
IndustryAug. 22, 2011
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E-Mart to build logistics complex
E-Mart, Korea’s No. 1 discount store chain, said Monday that it will invest about 400 billion won ($370 million) to establish a logistics complex in Gyeonggi Province by 2014. The complex, located at a 500,000 square meter site in Anseong, 77 kilometers south of Seoul, will become the nation’s large
IndustryAug. 22, 2011
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Foreign investors’ H1 profits soar
Foreign investors saw the second largest returns on record during the first half of the year, Bank of Korea data showed Monday.According to the central bank, foreign investors’ profits for the first six months of the year rose 6.6 percent from the same period last year to come in at over $8.33 billi
IndustryAug. 22, 2011
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Big investment banks unlikely to come soon
Global economic woes may delay bills on large financial groupsGrowing U.S. fiscal woes are stirring concern in Korea over a possible stall in the parliamentary passage of revised bills on capital market and financial investment businesses, calling for fostering American-style big investment banks.Th
Aug. 22, 2011
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Samsung, LG sweep global TV market
Local companies beating out Japanese TV makers with brisk 3-D TV salesSamsung and LG led the global television market during the second quarter of this year on the back of brisk sales of 3-D TVs and other high-end sets, research institute data showed on Monday. Samsung Electronics stood at No. 1 in
IndustryAug. 22, 2011
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SC First Bank’s striking workers likely to return to work next week: union
Striking workers at SC First Bank are likely to return to workplaces as early as next week, ending their all-out work stoppage that started in June in opposition to the bank’s move to adopt a merit pay scheme, the lender’s labor union said Monday.Unionized workers at the Korean unit of Standard Char
Aug. 22, 2011
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Overseas investment hits new high in H1
Korea’s direct overseas investment more than doubled in the first half of the year to a record high of $26.9 billion on the back of vigorous resources development projects, the government said Monday.The figure translates to a 132 percent rise from about $11.6 billion a year earlier and amounts to m
IndustryAug. 22, 2011
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10 savings banks may face sanctions
FSS winds up inspection of 85 secondary banking institutionsFinancial regulators are expected to issue another round of sanctions against a group of savings banks after completing an intensive inquiry into the secondary banking industry.Under its policy of revamping the industry tarnished by the cor
Aug. 22, 2011
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Flood damage drives car claims to record
South Korean non-life insurers saw the number of monthly car claims reach a fresh high in July, due to damages triggered by the record downpours that pounded the metropolitan area last month, data showed Monday.A total of 11,362 reports on car damages were received in July, with local insurers expec
Aug. 22, 2011
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Renault Samsung staff set up new trade union
Workers at Renault Samsung Motors Co., the local unit of French automaker Renault SA., said Monday that they have launched a new trade union to advance the rights of members.The newly formed labor union consisting of 200 members effectively marks the first time that a union has been set up at the ca
Aug. 22, 2011
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Firms use games for marketing
SK Telecom, LG Electronics team up with game firmsFirms are turning their eyes to the online game industry for better marketing not only in Korea but also in the overseas markets.SK Telecom, the country’s top mobile carrier, said Monday it would join hands with NHN, operator of well-known online gam
IndustryAug. 22, 2011