Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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Interest burden on household debt remains high
The interest payment burden on household debt has reached 480,000 won ($447) per head annually, the Bank of Korea said, revealing the exceedingly high level of loans and credit card bills taken up by the private sector.The figure from this March is the second-highest level after it reached a record high of 485,838 won for the one-year period ending last March.The central bank said private loans fr
May 31, 2011
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Ticket Monster launches business in Malaysia
Ticket Monster, the country’s largest social commerce firm, said Tuesday the company would launch its first overseas business in Malaysia in its first step into the market there.Daniel Shin, CEO and co-founder of Ticket Monster, said it recently acquired Everyday.com, which is a leading social shopping site in Malaysia.Malaysia was chosen because Ticket Monster expects the market there to grow sha
TechnologyMay 31, 2011
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[Herald Interview] App firm Podotree gears up for overseas expansion
Podotree, a local mobile application venture firm, is gearing up for overseas business expansion, with the goal of becoming the top player in the Japanese and U.S. markets, the company’s chief executive said Tuesday.In an interview with The Korea Herald, CEO Lee Jin-soo said the company released its Cube Dog 3-D Toy mobile application in global app stores, except the Japanese market, on Tuesday. T
TechnologyMay 31, 2011
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Social network services expand reach online
SNS increasingly used as tools for broadcast, dating, communication and shoppingChung Jang-hwan, CEO of business social network website Linknow, had never dreamed of being hired through such an online service before.Formerly employed at L&S Investment and AT&T, Chung posted his resume on the Korean Linknow site without pinning much hope on the move.However, he was called in for an interview by Lin
TechnologyMay 31, 2011
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Russia bans German, Spanish vegetable imports
MOSCOW (AFP) ― Russia on Monday banned the import of all vegetables from Germany and Spain and warned the sanction could soon be applied to the rest of Europe because of the deadly E. coli bacteria scare.The country’s consumer protection watchdog said in a statement that the ban covered “raw vegetables” including tomatoes, cucumbers and salad produced in Germany and Spain.Vegetables including Germ
IndustryMay 31, 2011
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74-year-old female body builder defies time
Ernestine Shepherd, 74, was recognized as the oldest female bodybuilder by the Guinness Book of World Records. (YouTube)A 74-year-old woman living in Baltimore was recognized as the oldest female bodybuilder by the Guinness Book of World Records, the Daily Mail reported Sunday. Ernestine Shepherd has “six-pack” abs which look unbelievable at her age and tries to motivate other people to lead healt
TechnologyMay 31, 2011
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Ireland may need more EU/IMF cash
IndustryMay 30, 2011
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Naver top ad platform in Korea
NHN Corp., Korea’s portal giant operating Naver and Hangame, proved itself a formidable advertising platform as its stake in the lucrative market reached 14 percent last year, a report showed Monday.According to the report by Digieco, a think tank affiliated with KT Corp., NHN’s ads sales topped 1.1 trillion won ($1.02 billion) last year, outstripping traditional leaders like newspapers and broadc
IndustryMay 30, 2011
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Economy to grow 4.3% this year: poll
Korea’s economy will likely grow 4.3 percent this year, falling short of a 5 percent expansion forecast earlier by the government due to external uncertainties, a poll showed Monday.According to the survey of 32 experts by the Federation of Korean Industries, the economy will likely expand 4.4 percent in the second half of this year, with 38 percent of those surveyed citing global economic uncerta
IndustryMay 30, 2011
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Jobs at listed firms hit new high in 2010
The number of jobs offered by South Korea’s listed companies soared to a record high last year as companies increased employment on the back of their strong earnings, data showed Monday.A total of 1.09 million people were hired by the 719 companies listed on the Seoul main stock index in 2010, up 10.8 percent from the previous year, according to the data by the Korea Listed Companies Association.
IndustryMay 30, 2011
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S-Oil to buy into poly-silicon producer
S-Oil Corp., the country’s third largest refiner, announced Monday that it will acquire a third of Hankook Silicon Co.’s stakes as part of its drive to expand into the renewable energy business.S-Oil said that the deal, which will see the refiner gain 33.4 percent of Hankook Silicon for 265 billion won ($245 million), will be finalized next month.The company said the decision to buy into the compa
IndustryMay 30, 2011
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SK Innovation breaks ground on new battery plant
SK Innovation Co., Korea’s top refiner, broke ground on its second plant Monday to produce batteries for electric vehicles, upping the ante for its fledgling green energy business as a next-generation revenue source.Located in Seosan, South Chungcheong Province, the facilities will start manufacturing 200-megawatt-hour batteries early next year and 300-MWh batteries by the end of 2012, SK Innovati
IndustryMay 30, 2011
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[Herald Interview] Edwards seeks bigger Asian presence with new plant
The decision to build a plant in Korea for manufacturing dry pumps for semiconductors was a natural one designed to give Edwards a leg-up in the Asian markets. “Korea is geopolitically well-situated to be able to export to the (Asian) markets due to its proximity to the customer, ability to form intimate relationships with them and concentration on technology and right quality of people,” Mathew T
IndustryMay 30, 2011
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STX shipbuilder gets $150m order from Greece
STX Offshore and Shipbuilding Co. announced Monday that it has won a $150 million contract from a Greek shipping company.The Changwon, South Gyeongsang-based shipbuilder said that the contract for four petroleum product carriers was signed with the Greek shipping firm Thenamaris Ships Management Inc. on Friday.The shipbuilder said that the first of the four vessels will be delivered to Thenamaris
IndustryMay 30, 2011
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Samsung invests $3b for Chinese LCD market
Electronics giant kicks off 7.5-generation display panel plant in SuzhouSamsung Electronics, the world’s No. 1 television maker, held a ground-breaking ceremony for a next-generation liquid crystal display plant in China in a drive to target the fast-growing Chinese market.A sales clerk inspects liquid-crystal display televisions at Samsung Electronics Co.’s store in Seoul. (Bloomberg)The company
IndustryMay 30, 2011
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SC First union ends one-day strike over pay
The union members of the Standard Chartered First Bank Korea ended Monday their one-day strike in protest of the management’s proposal to adopt a performance-based pay system.The union said it decided to return to work from Tuesday, adding that it would push for a meeting with the management to settle the labor dispute. “But if the negotiation makes little progress, we will go into another strike,
May 30, 2011
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Falling birthrate drives education spending down
The nation’s educational expenditure fell by the most in six years, mainly due to the declining number of students brought on by the country’s low birthrate, a state-run agency said Monday.The Statistics Korea said households with two persons or more spent 292,357 won ($269) monthly in education costs per child on average in the first quarter, down 14,434 won or 4.7 percent from same time last yea
May 30, 2011
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Uncertainties may hamper banks’ growth: Moody’s
Agency says consumer loan, M&A and foreign currency liquidity problems unlikely to ease soonMoody’s Investors Service on Monday highlighted several uncertainties in the local banking industry, saying that unfavorable factors could hamper banks’ long-term growth.Negative factors cited by the ratings agency included growing consumer loans, M&A issues and foreign currency liquidity.“A key credit issu
May 30, 2011
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Renault Samsung revs up new SM7
Renault Samsung Motors Co. is revving up to take on the country’s closely contested upper midsized sedan market with the revamped SM7.The revamped SM7, which will go on sale on the local market in the second half of the year, represents an opportunity for the company to gain ground in the local market. The new SM7. (Renault Samsung Motors Co.)With just under 2,500 units of the current SM7 sold on
IndustryMay 30, 2011
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Hana Bank expands in Asian market
Commercial bank develops creative financial products at homeHana Bank has been securing mutual investment with Chinese banks under its long-term vision to develop a future growth engine and diversify asset portfolios via overseas expansion.The commercial bank, which opened its first office in Shanghai 15 years ago, views China as one of the most lucrative markets.Over the past few years, the bank
May 30, 2011