Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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3 bidders launch due diligence on ailing savings bank
Korea's three financial services companies, including industry leader Woori Finance Holdings Co., have launched a due diligence on an ailing savings bank, industry sources said Friday. Mid-sized Samhwa Mutual Savings Bank has been suspended by thefinancial regulator as it failed to meet regulatory capital requirements. The government is seeking to sell the embattled savings bank unless it normaliz
Feb. 4, 2011
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S. Korea ranks No. 2 in OECD for food inflation
South Korea's food prices climbed the second most on-year among the organization for Economic Cooperation and Development (OECD) members in December, data showed Thursday.Food prices in South Korea jumped 10.6 percent in December from a year earlier, higher than the OECD average of 2.6 percent, according to the data by the OECD.Among the 33 tallied countries, Estonia topped the list at 12.2 percen
Feb. 3, 2011
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LG Electronics to launch its first tablet PC in March
LG Electronics Inc., the world's third-largest mobile phone maker, said Wednesday that it will release its first tablet PC in March in the U.S. market, as it tries to take its share in the booming market.The upcoming product, dubbed "G-slate," is among the first tablet models to run on the "Honeycomb" operating system, which is Google Inc.'s latest generation of Android platforms designed for mobi
IndustryFeb. 2, 2011
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Industrial production index grows for 3rd straight month: report
South Korea's industrial production growth index for the manufacturing and mining sector grew for the third straight month in December despite concerns of general economic slowdown, a government report showed Wednesday.The report by Statistics Korea said index numbers reached 63.6 in the cited month, which is also the second month in a row that figures topped the "break-even" 50 mark.A index readi
IndustryFeb. 2, 2011
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S. Korean company wins Uzbek highway rest area contract
South Korea's state-run expressway corporation said Wednesday that a local company won a contract to build and operate a highway rest area in Uzbekistan.Korea Expressway Corp. said the rest area will be built on the 300-kilometer-long highway connecting Tashkent and Samarkand. The unidentified Korean company will build the 99,000-square-meter rest area and retain operational rights over the facili
IndustryFeb. 2, 2011
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S. Korea's trade volume tripled in 10 years: report
South Korea's trade volume expanded three-fold in the last 10 years, helping the country become the seventh-largest exporter in the world, a government report showed Wednesday.The findings by the Korea Customs Service said the country's export and import volume that stood at just $291.5 billion in 2001 moved up steadily to $545.7 billion in 2005 and hit a record $891.6 billion last year.For 2011,
Feb. 2, 2011
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Korean won exchange rate to hover at 1,093 won to the dollar: KDI
The average exchange rate of the Korean won is expected to hover at 1,093 won to the dollar this year, a report by a state-run think tank showed Wednesday.The Korea Development Institute (KDI) report said that the local currency should gain in value vis-a-vis the greenback on the strength of such developments as steady economic growth and favorable trade balance.In 2010, the Korean legal tender tr
Feb. 2, 2011
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Banks‘ 2010 earnings jump 35.6%
Korean banks saw their earnings surge 35.6 percent last year from a year earlier thanks to increased interest income and profits from sales of stock holdings, the financial regulator said Tuesday.Net income by 18 local banks, including top lender Kookmin Bank and Woori Bank, came to 9.4 trillion won ($8.4 billion) in 2010, compared with 6.9 trillion won in 2009, according to a report by the Financ
Feb. 1, 2011
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Brokerages’ foreign units turn to loss
Korean brokerages saw their foreign operations turn to net losses in the fiscal first half of 2010 from a year earlier due to increased sales and maintenance costs, the financial regulator said Tuesday.The 47 foreign units of 19 local securities companies posted a combined net loss of $16.6 million in the April-September period, compared with a profit of $23.1 million a year earlier, according to
Feb. 1, 2011
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Oil benchmark tops $100 on Egypt unrest
Market fears unrest could disrupt flow of oil from the Middle EastNEW YORK (AP) ― A key global oil price contract topped $100 per barrel on Monday for the first time since 2008, as investors kept an anxious eye on Egypt and worried about unrest there disrupting the flow of oil from the Middle East.While Egypt is not a major oil-producing country, each day about two million barrels of oil pass thro
IndustryFeb. 1, 2011
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Diageo Korea offers dream-come-true Keep Walking event
Diageo Korea is staging a “dream contest” which enables people to follow unfulfilled lifelong goals that are unique enough to inspire others.Mark Edwards, marketing director for Diageo Korea, said the firm launched a global campaign here in November, accepting more than 1,400 applications for an event somewhat similar to other well-known local TV programs like Super Star K.“(What’s) similar is the
IndustryFeb. 1, 2011
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Hyundai E&C posts record sales in 2010
Hyundai Engineering & Construction Co., Korea’s largest builder, said Tuesday that it has posted record high sales last year of over 10 trillion won ($ 8.6 billion), up 7.8 percent from 2009, on strong overseas orders.Earnings rose 19 percent on-year to 544.8 billion won in 2010, the firm said, thanks to gains from equity investments. Operating profit surged 39.5 percent to 584.3 billion won.“Hyun
IndustryFeb. 1, 2011
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Overseas demand boosts carmakers’ sales in Jan.
All five local carmakers saw January sales increase from a year earlier on the back of strong demand from overseas markets, industry data showed Tuesday.Their total sales came to 626,806 vehicles, up 21.9 percent from 514,094 units sold in the same period last year.Their domestic sales grew 1.4 percent to 120,577 units and overseas sales, including exports, jumped 28.1 percent to 506,229 units.Kia
IndustryFeb. 1, 2011
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Kim of FSS tapped as CEO of Ex-Im Bank
Kim Yong-hwan, senior deputy governor of the Financial Supervisory Service, was recommended as president & CEO of the state-run Export-Import Bank of Korea on Tuesday.President Lee Myung-bak is expected to appoint Kim, who was recommended by the Ministry of Strategy and Finance, to the post soon. Kim Yong-hwanBorn in Boryeong, South Chungcheong Province, the 59-year-old nominee graduated from Sung
Feb. 1, 2011
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POSCO’s overseas project gains momentum
POSCO plans to inject about $12 billion into a project to construct a new plant and develop an iron ore mine in India, which received the green light from the Indian government on Monday after years of delay.India’s Ministry of Environment and Forests gave POSCO conditional approval to go ahead with buying up land for an integrated steelworks and to continue processes for its plans for iron ore ex
IndustryFeb. 1, 2011
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Consumer prices surge 4.1% in January
Inflation breaks BOK ceiling again, led by 30.2% jump in fresh food pricesKorean inflation accelerated for the second straight month in January, breaching the central bank’s 4 percent ceiling and adding to the case for another increase in borrowing costs. According to the report by Statistics Korea, the country’s consumer price index surged 4.1 percent last month from a year earlier, mainly due to
IndustryFeb. 1, 2011
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KORES bids for Mongolia coal mine
An international consortium led by Korea Resources Corp. recently submitted a bid to develop a coal mine lot in Mongolia, the state-run resources developer said Monday.The consortium of nine Korean, two Russian and four Japanese companies seeks to obtain the right to develop the Tavan Tolgoi mine. The region has one of the world’s largest untapped deposits of coal for making steel with around 1.2
IndustryFeb. 1, 2011
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Banks’ profit jumps 41% as bad-loan ratio drops
Kookmin Bank, Korea’s largest lender, and local rivals posted a 41 percent jump in combined profit last quarter as widening lending margins increased interest income and provisions for bad loans fell.The 18 lenders net income climbed to 2.1 trillion won ($1.9 billion) for the three months ended Dec. 31, from 1.5 trillion won a year earlier, the Financial Supervisory Service said Tuesday in an e-ma
Feb. 1, 2011
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Netherlands supplies FMD vaccines to Korea
The Netherlands are providing 1 million doses of foot-and-mouth vaccine to help Korea fight its worst outbreak, its embassy said Friday.At the request of the Korean government, the European country has sent 500,000 vaccines. The remainder is due to arrive on Feb. 3. “The Netherlands expects it will contribute positively to the welfare of the animals and to disease control,” it said in an e-mailed
Feb. 1, 2011
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Unrest in Egypt feared to hit S. Korean exports
A prolonged anti-government protest in Egypt could deal a blow to South Korean exports to the North African state and hamper the recovery of Asia's fourth-largest economy by pushing up commodity costs, watchers said Tuesday. Thousands of protesters took to the streets of major cities in Egypt last week, demanding their president, Hosni Mubarak, to end his iron-fisted rule of 30-odd years. M
Feb. 1, 2011