Most Popular
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BTS' V and Blackpink's Jennie break up: sources
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S. Korea eyes chip alliance with Netherlands
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Suneung without 'killer questions' still not easy, results show
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US defense policy bill calls for maintaining 28,500 US troops in Korea
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SK carries out complete reshuffle of top brass
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Teens' excessive smartphone use linked to mental health risk: study
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S. Korea, US, Japan to discuss regional security issues: White House
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Ruling party reform committee disbands early, says job half done
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S. Korea asks UAE to correct nat'l flag image mix-up on COP28 website
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Auditor says Moon govt distorted 2020 death of fisheries official
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30 groups unveil record-high investment plan
Lee, CEOs agree to cooperate for 5 percent growthThe nation’s 30 largest business groups unveiled plans to invest more than 110 trillion won ($98.2 billion) and create 100,000 new jobs this year during their meeting with President Lee Myung-bak on Monday.Leaders of Samsung, Hyundai Motor and other groups said they would increase their investment to 113.2 trillion won for 2011, which will mark an a
IndustryJan. 24, 2011
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Hiscot offers liquor gift sets for Lunar New Year
Hiscot Co., a subsidiary of Korea’s largest liquor maker Hite-Jinro Group, offers a range of gift sets for the Feb. 3 Lunar New Year’s day, the firm said Monday.“This year’s New Year gift sets were prepared for consumers who look for practical gifts. A variety of quality gift sets will be offered at affordable prices for consumers to choose from,” Hiscot executive director Jang Byeong-seon said. T
IndustryJan. 24, 2011
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KT&G renews Esse Golden Leaf design
KT&G Corp., Korea’s largest tobacco manufacturer, will roll out a repackaged version of its Esse Golden Leaf product at the end of January, the firm said Monday. The cigarette packaging was created in collaboration with Najeonchilgi master Park Jae-seong, the firm said. Najeonchilgi is a traditional mother of pearl craft where colorful pieces of shellfish are inlaid on an object and then applied w
IndustryJan. 24, 2011
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Childbirths grow for 9th month in Nov.
Childbirths in Korea grew for the ninth consecutive month in November as the economic recovery encouraged couples to have more babies, a report showed Monday.According to the report by Statistics Korea, the number of babies born in November was about 41,200, up 17 percent or 6,000 from the same month a year earlier. The latest figure marked the ninth consecutive on-year growth since last March. It
Jan. 24, 2011
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KB Asset wins nod for investment in China
HONG KONG (Yonhap News) ― Korea’s KB Asset Management Co. said Monday it has obtained approval from Chinese authorities to invest up to $100 million in local securities, gaining greater access to one of the world’s most rapidly growing stock markets.The approval, granted by China’s State Administration of Foreign Exchange (SAFE) last week, will allow KB Asset Management to launch a collective inve
IndustryJan. 24, 2011
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Korea confirms additional FMD case
Korea reported an additional case of foot-and-mouth disease (FMD) in the central part of the country Monday, in the midst of nationwide vaccination and quarantine efforts.The farm ministry said some cattle at a farm in Mungyeong, North Gyeongsang Province, about 220 kilometers southeast of Seoul, tested positive for the highly contagious animal disease after animals started showing symptoms over t
Jan. 24, 2011
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Seoul shares up on institutional buying
Korean stocks closed 0.59 percent higher on Monday as institutional investors hunted for bargains, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 12.24 points to 2,082.16. Trading volume was moderate at 335.1 million shares worth 6.01 trillion won ($5.37 billion), but losers outnumbered gainers 412 to 396.“Institutional
Jan. 24, 2011
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Only half of Korean firms succeed in China: poll
HONG KONG (Yonhap News) ― Only about half of Korean companies operating in China have turned out to be successful, despite their rush into the world’s second-largest economy, a poll showed Sunday.According to the survey on 212 Korean firms, taken by the Korea International Trade Association’s (KITA) Shanghai office, 55.7 percent of the firms assessed their business in China as “successful.” Among
Jan. 24, 2011
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Banks’ fund raising jumps due to deposit growth
Korean banks raised more funds last year than 2009 as risk-averse investors piled into lenders’ savings deposits, the financial regulator said Monday.Eighteen local banks’ fund raising through deposits and debt issuance expanded by a net 35.5 trillion won ($31.7 billion) last year, bringing their outstanding funds to 1,161.4 trillion won as of the end of December, the Financial Supervisory Service
Jan. 24, 2011
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Companies splurging on iPads could be sign of recovery
NEW YORK (AP) ― The news last week that Apple’s Steve Jobs is taking a leave of absence was a big story. But something else about the company got far less attention and could be even more important to investors this year.Corporations “are adding iPads to their approved device list at an amazing rate,” Peter Oppenheimer, Apple Inc.’s chief financial officer, told analysts Tuesday. Apple’s products,
IndustryJan. 24, 2011
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GS head stresses innovation, collaboration
GS Group chairman Huh Chang-soo recently stressed executives’ dedication to growth and innovation as key to its ambition to become a leading global firm. Despite the good results the group has been achieving over the past few years in an unfavorable local business environment, Huh said the group should not be satisfied with its performance. GS Group chairman Huh Chang-soo “Based on the performance
IndustryJan. 24, 2011
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SKT introduces multi-gadget content platform
SK Telecom, the nation’s No. 1 telecom operator, launched on Monday a “numerous screen” (n-Screen) platform that allows users to access the same content from multiple devices based on cloud computing technology. The “hoppin” service allows subscribers to use media content in its server on smartphones, computers, tablet PCs and televisions through a Wi-Fi network with a one-time payment. For instan
IndustryJan. 24, 2011
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Watchdog launches sweeping probe on firms
40 large firms and suppliers face investigation over price collusion, unfair trade, abuse of market powerThe Fair Trade Commission is conducting an extensive investigation into about 40 large firms and its suppliers to root out business malpractices including price collusion and abuse of market power, officials said Monday. The antitrust regulator launched the largest-ever probe into their pricing
Jan. 24, 2011
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Yuhan-Kimberly exports top W230 billion
Yuhan-Kimberly, Korea’s leading hygiene products manufacturer, said its exports increased 28.7 percent to 237.6 billion won ($211.8 million) last year, thanks to strong sales of its diapers and feminine sanitary pads.Shipments to China, Russia and Turkey accounted for 63 percent, the company said. Products like diapers, sanitary pads and paper towels make up 82 percent.“Such items could succeed in
IndustryJan. 24, 2011
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Citi picks Korea, Taiwan stocks amid inflation
Citigroup Inc. recommended stocks in Korea, Taiwan and Hong Kong as manufacturing companies gain in an inflationary environment amid global economic growth.“Higher inflation and higher rates benefit growth- sensitive markets, such as Korea and Taiwan and general asset plays like Hong Kong,” according to a report by Citigroup analysts led by Markus Rosgen. “Inflation shifts profits from consumption
IndustryJan. 24, 2011
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Kia aims to dominate city car market
No. 2 carmaker releases new Morning with upgraded safety, convenience featuresJEJU ― Kia Motors Corp. launched the latest version of its Morning city car on the local market Monday.The company aims to sell 100,000 units on the domestic market and 120,000 units overseas this year.From next year, the company hopes to raise the overseas figure by 20,000, pushing up the overall sales figure to 240,000
IndustryJan. 24, 2011
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Apollo-led group bidding for Sara Lee
Sara Lee Corp. received a takeover bid from Apollo Global Management LLC, Bain Capital LLC and TPG Capital that is higher than the food company’s current share price of $18.70, said three people with knowledge of the matter. The offer gets close to the $20 a share that Sara Lee’s board is seeking, said one of the people, who declined to be identified because the process is private. JBS SA, the Bra
IndustryJan. 24, 2011
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Australia producer prices rise in Q4
Prices paid to Australian producers rose less than forecast in the fourth quarter, recording the smallest increase in a year as a stronger currency lowered the cost of imports. The producer prices index advanced 0.1 percent in the October-December period from the prior quarter, when it gained 1.3 percent, the Bureau of Statistics said in Sydney Monday. The median estimate of 19 economists surveyed
IndustryJan. 24, 2011
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Online retailers wary of tax on discount sales
Gmarket face 16.9 billion won in back taxes on underreported revenueOnline retailers are concerned about possible taxation on their discount sales after state auditors last week ordered Gmarket to pay 16.9 billion won ($15.12 million) in back taxes on underreported revenue. The Board of Audit and Inspection judged on Thursday that the top online marketplace operator evaded value added taxes by exc
Jan. 24, 2011
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SK Telecom to unveil smartphone-cum-set-top box
South Korea's largest mobile carrier SK Telecom Co. said Monday that it will release a smartphone that can also serve as a set-top box, playing content on personal computers, tablet PCs and TVs. The smartphone named "Galaxy S hopping," made by Samsung Electronics Co., will hit shelves in the local market this week, SK Telecom said in a statement. The new phone represents the company's effor
IndustryJan. 24, 2011
