Most Popular
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Korea enters full election mode
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Immigrant woman stabbed to death by Korean husband
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Hyundai Motor preferred bidder for Hyundai E&C
Hyundai Motor Group was designated as the preferred bidder for Hyundai Engineering & Construction on Friday.At the shareholder’s meeting held in downtown Seoul, Hyundai E&C’s eight major creditors approved the proposal by main creditor Korea Exchange Bank that they would push for signing a memorandum of understanding to sell the nation’s largest builder to the automobile giant.It has been reported
Jan. 7, 2011
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Samsung sales top W150 trillion
Operating profit for 2010 increases 58.1%Samsung Electronics saw its yearly sales reach an all-time high to post 150 trillion won ($133.9 billion), buoyed by marked growth in the field of semiconductor sales. The country’s largest electronics firm said Friday that it recorded 41 trillion won in sales and 3 trillion won in operating profit for the fourth quarter of last year, leading to yearly sale
IndustryJan. 7, 2011
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Skype offers upgraded video calling
Skype, the leading internet calls operator, said Friday that it updated its software for enterprises with Group Video Calling which enables the participation of a maximum of 10 people.The business version of Skype intends to become a communication platform that could have individuals interact in real-time over high quality audio and video, conference calling and instant messages, according to Skyp
IndustryJan. 7, 2011
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‘Africa crucial for Korea to see $1tr trade’
South Korea with Africa should forge a win-win cooperation model where they maximize the use of Africa’s abundant resources and Korea’s technology and development experience, a senior government official said Friday. “Korea needs to start seeing Africa as a major emerging market for the country to achieve an annual trade volume of $1 trillion,” Second Vice Minister of Knowledge Economy Park Young-
Jan. 7, 2011
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Verizon reveals first 4G wireless gadgets
LAS VEGAS (AP) ― This year, the big national wireless carriers will be racing to stake their claims in the new frontier of service: ultra-fast data access ― for smart phones and laptops as well as for gadgets like tablets.The companies are boosting their wireless data speeds and revving up the marketing hype. They’re moving away from talking about call quality and coverage, and focusing on data sp
IndustryJan. 7, 2011
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Mystery over dead birds in U.S. sparks wild speculations
Just a couple of days after the deaths of 5,000 birds in Arkansas on New Year’s Eve, about 500 birds were found dead in Louisiana on Monday. Thousands of dead red-winged blackbirds fell from the sky in an Arkansas town on New Year’s Eve after massive trauma, tests by Arkansas veterinary officials concluded Monday.Dead birds on a street of Lousiana, US (AP)“The birds suffered from acute physical tr
TechnologyJan. 7, 2011
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LG Electronics showcases tablet PC
LAS VEGAS ― LG Electronics and German-based telecommunications firm T-Mobile on Wednesday (Las Vegas time) unveiled the G Slate, the first tablet PC manufactured by LG.The world’s third-largest handset manufacturer sought to re-enter the smart device race after it lost out in the smartphone battle last year. The G Slate underscores the company’s attempts to get back into the groove, industry watch
Jan. 7, 2011
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Samsung Q4 profit misses market estimates
Samsung Electronics Co., the world's largest maker of memory chips and liquid-crystal display (LCD) panels, estimated Friday that its operating profit for the October-December period fell below market estimates, as prices of its mainstay memory chips and LCD panels plunged on sluggish demand. Samsung put its fourth-quarter operating profit at 3 trillion won ($2.67 billion), down 12.8 percent fr
IndustryJan. 7, 2011
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Samsung expects to raise $200 billion before 2015
Electronics firm to look overseas to help raise competenceLAS VEGAS ― Samsung Electronics expects up to $200 billion in sales by 2015, noting that it has recorded about 150 trillion won ($132 billion) this year.Samsung Electronics is scheduled to reveal its fourth quarter earnings on Friday in Korea. “I believe we were not wrong to believe that we can hit the $400 billion sales mark by 2020,” said
Jan. 7, 2011
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Korea vows all-out effort to tame inflation
The Bank of Korea’s top policy priority this year will be to stabilise inflation, while adjusting monetary policy in view of the global economic situation, the central bank said Thursday.Separately, the Finance Ministry pledged to make an effort “on all fronts” to curb price pressures, at a time when surging oil and commodities prices are fanning inflation expectations around the region.The govern
Jan. 6, 2011
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Korea’s kimchi exports reach $98.4m in 2010
Korea kimchi exports rose 10 percent on-year to $98.4 million last year thanks to solid overseas demand for the spicy fermented side dish, the government said Thursday.The Ministry for Food, Agriculture, Forestry and Fisheries said the outbound shipment total was the second-highest annual figure after the $102.7 million reported for 2004.The annual increase is noteworthy because problems in supply
IndustryJan. 6, 2011
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Korea remains strong stock investment magnet
Korea’s stock market lured nearly 30 percent of foreign equity funds poured into emerging Asian countries last year, becoming the second-biggest investment destination after India, a report showed Thursday.Foreign investors bought a net $18.9 billion of domestic shares in 2010, representing 29.7 percent of the total $63.9 billion in foreign net purchases among seven key emerging markets in the Asi
IndustryJan. 6, 2011
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Korea eyes emerging markets to boost trade
Korea must look for new opportunities in newly emerging markets, such as Africa and South America, to continue expanding its exports, while also seeking to establish a stronger presence in the $9 trillion global public procurement market, a local trade agency said Thursday.The announcement came as the Korea Trade-Investment Promotion Agency (KOTRA) launched a global market forum at a Seoul hotel,
Jan. 6, 2011
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Korea halts imports of German pork, poultry
Korea has effectively halted imports of German pork and poultry products after high levels of dioxin were discovered, the government said Thursday.The Ministry for Food, Agriculture, Forestry and Fisheries said it has confirmed recent media reports that dioxin, a toxic compound that can damage the human immune system and cause cancer, has been detected in pork, poultry meat, eggs and animal feed m
Jan. 6, 2011
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U.S. private-sector jobs boom stokes hope
Private-payroll report lifts hopes for more hiring despite skepticism over ADP's dataWASHINGTON (AP) ― Companies added nearly 300,000 jobs in December, according to an unofficial count by a private payroll firm ― more than in any month in the past decade. The news raised hopes that the government’s official report Friday on last month’s job creation could be a blockbuster.While there were reasons
IndustryJan. 6, 2011
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Korea to spend W1tr on new, renewable energy sources
South Korea plans to inject 1 trillion won ($900 million) into developing new and renewable energy sources this year with a plan to achieve $40 billion in exports in the sector by 2015, the Ministry of Knowledge Economy said Thursday.“The move came as we aim to nurture solar and wind power generation as the country’s next chip industry and shipbuilding industry, respectively,” ministry officials s
IndustryJan. 6, 2011
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China buys more Korea bonds despite tax
China boosted its holdings of Korean bonds last month even as lawmakers in Seoul reinstated a tax on interest income from debt securities. China’s net purchases of Korean Treasury notes totaled 444 billion won ($395 million), 23 percent more than in December 2009, the Financial Supervisory Service said Thursday. The addition more than tripled China’s holdings of Korean fixed-income securities to 6
Jan. 6, 2011
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LG Display bets on new 3-D technology
Company resumes business with Sony after seven-year lull: CEOLAS VEGAS ― Leading LCD panel manufacturer LG Display on Wednesday (Las Vegas time) offered a sanguine business outlook for this year, predicting that its cheaper 3-D television panels that better protect the eyes would dominate the market with a 70 percent stake.The Seoul-based firm also said that, as of the end of last year, it has beg
Jan. 6, 2011
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Think tank chief warns against price controls
Government intervention to control rising food and necessities prices should be resisted, the head of a South Korean free market think tank said Wednesday.Center for Free Enterprise head Kim Chung-ho said that any government attempts to micro-manage prices of food and other necessities were destined to fail and were more characteristic of a “command economy.”Food prices surged more than 33 percent
Jan. 6, 2011
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FSC, banks strive to rescue savings banks
Financial groups offer to take over troubled secondary institutionsThe government and large banking groups are coming to the rescue of the savings banks industry to prevent their debt crisis from harming the financial system. The extent of urgency in the secondary banking industry could be seen from the remarks of Financial Services Commission Chairman Kim Seok-dong and chiefs of major financial g
Jan. 6, 2011