Most Popular
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Schools brace for impact of record-low enrollment
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Day laborers, low-income earners fear lonely death
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Seoul City to operate autonomous night bus
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US deploys fighter jets in S. Korea for air exercise in Singapore
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[Hello Indonesia] Green growth cements Korea-Indonesia ties
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Yoon replaces 6 ministers ahead of his 3rd year, general election
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North Korea threatens consequences after South Korea launches 1st spy satellite
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[Hello Hangeul] Inside the Korean language classroom in Madrid
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Festivals to illuminate Seoul’s winter nights
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Province office raided in probe into wife of opposition leader
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4 financial groups vie for ailing savings banks
Major financial groups have been in keen competition to take over debt-saddled savings banks whose operations were suspended by regulators for liquidity woes.The Financial Services Commission has halted operations of seven savings banks since January. Among the potential buyers targeting them are KB Financial, Woori Financial, Shinhan Financial and Hana Financial.Woori Financial has become the pre
March 13, 2011
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BASF seeks sustainable growth
Chemical firm also aims to boost presence in Asian construction marketLUDWIGSHAFEN, Germany ― Chemical plants have been associated with toxic materials harming the air, water and ecosystem, a major hurdle to the industry’s sustainable growth. BASF, a leading global chemical firm, shows how technology, strategy and devotion to the community can tackle these challenges. The company based in Ludwigsh
IndustryMarch 13, 2011
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Supportive messages flood Web after Japan earthquake
Reports of Japan's devastation by a strong earthquake sent many South Koreans online to deliver messages of goodwill, condolences and offers of aid for a third day on Sunday. An urban area devastated by tsunami is seen in Minami Sanriku, Miyagi, northern Japan Sunday, March 13, 2011 after Friday's catastrophic earthquake and tsunami. (AP-Yonhap)The 8.9-magnitude earthquake, the strongest ever in J
TechnologyMarch 13, 2011
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Takeover moves may flare up in S. Korea's banking sector: analysts
The comeback of former Finance Minister Kang Man-soo as the new chief of a state bank is likely to rekindle debate over creating so-called mega financial firms and swirl the banking sector in a wave of takeovers, market watchers said Sunday.South Korea's financial watchdog last week recommended Kang Man-soo, a close confidant of President Lee Myung-bak, as new chairman of the state-run KDB Financi
March 13, 2011
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US experts fear 'Chernobyl-like' crisis for Japan
WASHINGTON, March 12, 2011 (AFP) - US nuclear experts warned Saturday that pumping sea water to cool a quake-hit Japanese nuclear reactor was an "act of desperation" that may foreshadow a Chernobyl-like disaster. (Yonhap News) Several experts, in a conference call with reporters, also predicted that regardless of the outcome at the Fukushima No. 1 atomic plant crisis, the accident will serious
TechnologyMarch 13, 2011
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S. Koreans' overseas travel spending hits 30-month high in Jan.
South Koreans' spending on overseas travel rose by the most in 30 months in January as the local economy recovered and the local currency ascended to the U.S. dollar, central bank data showed Sunday. South Koreans' expenditure on overseas travel reached US$2 billion in January, up 29.2 percent from a year earlier and marking the highest level since the $2.24 billion recorded in July 2008, acc
March 13, 2011
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Korea to launch grain trading firm in April
By Shin Hyon-heeKorea’s government and companies will open a grain trading company in Chicago next month, speeding up efforts to ensure stable supply and cope with price swings, a source close to the matter told The Korea Herald.The state-run Korea Agro-Fisheries Trade Corp. (aT) said in January it and large local firms will launch the joint corporation this year to establish a national grain proc
March 11, 2011
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Cheong Wa Dae bristles over Lee’s remarks
Samsung Electronics chairman Lee Kun-hee is causing a stir with his remarks apparently disparaging the government’s policy performance and castigating a former prime minister’s drive for profit sharing between large and small firms.Asked to assess the Lee Myung-bak administration’s economic policies, he had said on Thursday, “I am not satisfied but still won’t give out a failing mark since the eco
IndustryMarch 11, 2011
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Hyundai Heavy names new co-CEO
Hyundai Heavy Industries Co., the world’s top shipbuilder, appointed Kim Oi-hyun as co-chief executive during its shareholders’ meeting on Friday.The former shipbuilding division head will replace Min Keh-sik, who had led the firm for the past 10 years. Kim Oi-hyunKim, 57, will oversee management as vice chairman and chief executive, alongside Lee Jai-seong, who became president and chief executiv
IndustryMarch 11, 2011
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Samsung looks to enlist former top BMW designer
Samsung Electronics is looking to hire Chris Bangle, former chief designer for BMW Group, in pursuit of more stylish products, a company official said.If the two parties reach consent, he is likely to take charge of designing mobile phones, netbooks, home appliances and other devices for Korea’s top electronics manufacturer.“Samsung has been trying to offer him an advisory job, not an exclusive co
IndustryMarch 11, 2011
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BOE holds interest rates at 0.5%
LONDON (AFP) ― The Bank of England on Thursday held its key interest rate at a record low 0.5 percent, where it has now stood for two years, as it balanced strong inflation against a fragile economic recovery.“The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent,” the central bank said in a statement after a
IndustryMarch 11, 2011
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China inflation rate at 4.9% in February
China’s consumer prices rose 4.9 percent in February from a year earlier, exceeding the government’s 2011 target for a fifth month.The advance was more than the 4.8 percent median forecast in a Bloomberg News survey of 22 economists. In January, the rise was 4.9 percent. The government has a 4 percent inflation target for the full year.Investors are concerned that monetary tightening to tame infla
IndustryMarch 11, 2011
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Oil prices threaten global economy
Pricier oil dampens consumer spending and cuts into economic growthWASHINGTON (AP) ― Higher oil prices are slowing global economic growth, and the impact is likely to spread in coming months.Oil prices helped raise the U.S. trade deficit to a seven-month high in January, when crude prices were $87.50 a barrel. Oil is now trading at more than $100 a barrel, suggesting the gap will widen in coming m
IndustryMarch 11, 2011
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Top court finds Lone Star Korea chief guilty of stock rigging
South Korea's top court on Thursday found Lone Star Korea's chief guilty of manipulating the stock price of a former credit card firm, in a ruling that overturned a lower court ruling that acquitted its head in a controversial 2003 deal.Yoo Hoi-won, also known as Paul Yoo, who led Lone Star's South Korean operations, was indicted on charges of driving down the share price of Korea Exchange Bank (K
March 11, 2011
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Spider venom can cause erection up to four hours
It has been found that a single bite from the world’s most poisonous spider can give men a four-hour erection, British paper the Metro reported on Tuesday. The Medical College of Georgia in the U.S. found that the Brazilian wandering spider’s toxin can be an effective treatment on impotence in rats. The research team is further looking into whether the wandering spider’s poison can treat erectile
TechnologyMarch 11, 2011
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British firm begins work on furnace dust recycling plant
A groundbreaking ceremony was held in Gyeongju on Friday for a furnace dust recycling plant that can help South Korea cut back on zinc imports and costs of burying harmful electric arc furnace dusts (EAFD). The plant, which is being built by Britain's ZincOx Resources PLC in Gyeongju, 370 kilometers southeast of Seoul, will cost around US$250 million, with two recycling facilities to go onlin
IndustryMarch 11, 2011
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Major Korean carriers set to add overseas flights
South Korea's two full-service carriers, Korean Air Lines Co. and Asiana Airlines Inc., said Friday that they are gearing up to increase their overseas flights to meet busy summer season demand. The two carriers plan to raise their overseas flights by a combined 165 flights per week between late this month and the end of October, they said in a statement. The plan is subject to approval by t
IndustryMarch 11, 2011
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Risk factors for strokes
A stroke is a sudden interruption in the blood supply of the brain. Because strokes occur rapidly and require immediate treatment, a stroke is also called a brain attack. Most strokes are caused by an abrupt blockage of arteries leading to the brain (ischemic stroke). Other strokes are caused by bleeding into the brain tissue when a blood vessel bursts (hemorrhagic stroke).When the symptoms of a s
TechnologyMarch 10, 2011
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BOK hikes rate to curb inflation
Central bank governor sees high inflationary pressureKorea’s central bank raised its key interest rate for the second time in three months Thursday as it steps up efforts to control inflation.The Bank of Korea lifted its benchmark base rate to 3 percent from 2.75 percent at a monthly meeting. The rate influences a variety of borrowing costs, including those on overnight loans between financial ins
March 10, 2011
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Samsung chief Lee slams profit-sharing scheme
Lee Kun-hee, chairman of Samsung Electronics Co., on Thursday lashed out at a recent proposal by former Prime Minister Chung Un-chan for large businesses to share their excessive profits with smaller companies.The rare attack from usually reticent Lee, 69, came as he was on his way to a monthly meeting of the executive board of the Federation of Korean Industries, the largest business lobby in Kor
March 10, 2011