Most Popular
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Confusion over alleged S. Korean drone intrusion: Who's behind it?
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More homeroom teachers asking to be replaced amid teachers rights dispute
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N. Korea sends 20 more trash balloons toward S. Korea: JCS
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Han Kang’s Nobel Prize opens new horizons for Korean literature
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Biden proposes holding trilateral summit this year
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Jennie tops iTunes charts in 47 countries with 'Mantra'
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K-pop song once recommended by Nobel laureate Han Kang returns to music charts
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Riize speaks out on Seunghan’s return
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SK heiress weds Chinese American entrepreneur
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2 Filipinas who left pilot program cite overwork, excessive surveillance
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[News focus] 44% of Korea’s tenants now rent
More low-income class pushed to live in rented homes as ‘jeonse’ fees riseA growing number of homeowners are shifting from the uniquely Korean way of leasing property based on lump-sum deposits, called jeonse, in favor of a monthly rental system. Research showed on Monday the portion of tenants living on monthly rent doubled over the past 16 years, driven by low interest rates, falling home prices
April 5, 2011
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More mothers sharing breast milk but experts warn of risk
WALNUT CREEK, California ― After the birth of her daughter five years ago, Cynthia Li, of Berkeley, California, was diagnosed with a severe thyroid condition and was unable to breast feed.Knowing the benefits of human milk, Li didn’t want to use formula and lamented her situation to a friend. The friend offered to send out a mass email on Li’s behalf asking like-minded moms to donate their extra b
TechnologyApril 4, 2011
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Latin-inspired Zumba workout blends fun, fitness
Beneath glinting disco balls and festive decor, illuminated by multicolored strobe lights, the group ― all beaming, glistening with sweat ― are caught up in hip-shaking, body-swirling dance moves. But this isn’t a nightclub. This is Zumba ― a Latin-inspired fitness program that has gripped dance and exercise lovers in more than 110 countries and has now landed in Itaewon, Seoul. “Zumba has changed
TechnologyApril 4, 2011
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Nonlisted chaebol units engaged in internal trade
Unlisted subsidiaries of Korea’s leading family-controlled conglomerates depend heavily on international trading for their sales, data showed Monday, raising concerns over conglomerates’ attempts to transfer wealth and dodge taxes.Twenty unlisted firms, whose biggest shareholders are the heirs of the group owners, saw their combined sales from internal transactions reach 3.42 trillion won ($3.1 bi
IndustryApril 4, 2011
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Kookmin won’t sell parent shares to market
The head of KB Financial Group Inc. said Monday that its flagship banking unit plans not to unload shares in the parent group in the local market in a bid to minimize its market impact.Korea’s top lender, Kookmin Bank, bought about 21 percent stake in its parent, KB Financial Group, in September 2008 when the group was created. By banking law, the bank is required to unload around 9 percent stake
April 4, 2011
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Korea to spend W1tr on energy research
Korea plans to spend 1.03 trillion won ($947 million) this year to promote renewable energy development research and nuclear safety projects, the government said Monday.The amount represents a 3.1 percent gain from 1.01 trillion won spent on energy R&D in 2010. The sum is equal to 6.9 percent of the government’s overall R&D plan of 14.9 trillion won set aside for this year.The Ministry of Knowledg
IndustryApril 4, 2011
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Outlook for Korean exports remains strong for Q2
A majority of foreign importers of Korean goods expect the country’s exports to remain solid in the second quarter on increased competitiveness, a poll showed Monday.The index measuring the outlook of the country’s exports in the April-June period came to 57.5, compared with 52.7 tallied for the previous quarter, according to the survey by the Korea Trade-Investment Promotion Agency (KOTRA).The se
IndustryApril 4, 2011
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Refiners consider following SK price cuts
GS Caltex, S-Oil and Hyundai Oilbank may follow largest refinery’s decision to lower gasoline and diesel costsLeading oil refiner SK Innovation’s decision to lower retail fuel prices has prompted its smaller rivals to consider following suit. SK Innovation announced Sunday that it will reduce the prices of gasoline and diesel sold at its stations nationwide stations by 100 won ($0.09) per liter fo
IndustryApril 4, 2011
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Won climbs to 30-month high
Korea’s won climbed to a 30-month high and bonds declined after the U.S. jobless rate unexpectedly dropped to a two-year low in March, spurring optimism that a global recovery is gaining momentum.Overseas investors increased their holdings of Korean shares for a 13th day, the longest streak of net purchases this year. The nation’s foreign-exchange reserves rose to $298.62 billion at the end of Mar
April 4, 2011
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Banks’ overseas earnings rise 29%
Korean banks saw total earnings from their overseas operations jump 28.8 percent last year from a year earlier thanks to an increase in interest income, the financial regulator said Monday. Net income by 92 overseas units and branches operated by 11 local banks stood at $369.1 million in 2010, compared with $286.4 million in the previous year, according to the Financial Supervisory Service (FSS).T
April 4, 2011
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Foreigners cut local shareholdings in March
Foreign investors cut holdings of local shares for the second straight month in March amid worries over political unrest in the Middle East region, the financial regulator said Monday.Foreigners sold a net 772 billion won ($709.4 million) of Korea’s listed shares last month, further reducing local share holdings following their net selling of 3.72 trillion won in February, the Financial Supervisor
April 4, 2011
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Minister apologizes for FTA gaffe
Trade Ministry completes fixing mistakes in translation of Korea-EU agreementTrade Minister Kim Jong-hoon apologized to the public on Monday for mistakes in the Korean-language version of the Korea-E.U. free trade agreement. In a news conference, he pledged to punish officials responsible for the blunder that delayed parliamentary ratification and hurt the reputation of the trade authorities.The T
IndustryApril 4, 2011
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KDIC to sell suspended savings banks: chief
Korea’s deposit insurance agency said Monday it plans to put most of the seven suspended savings banks up for sale from as early as this month as part of the country’s widening efforts to revamp the ailing financial segment.In February, the country’s financial regulator Financial Services Commission (FSC) suspended the savings banks, including top player Busan Savings Bank and its four affiliates,
April 4, 2011
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Hyundai Heavy starts work at R&D center in Shanghai
The world’s largest shipyard Hyundai Heavy Industries announced Monday that its Shanghai-based Global Research and Development Center began operations this month.According to the company, the R&D center will first focus on developing new products and technologies in areas concerning Hyundai Heavy’s current operations in China including construction equipment and engines. In the long term, the cent
IndustryApril 4, 2011
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Builders bail out of Brazil bullet train bid
Four Korean companies have pulled out from the nation’s consortium planning to bid for a contract to build and operate a bullet train network in Brazil, company officials said. The four companies, including Hyundai Amco Co. and Kolon Engineering & Construction Co., notified the consortium of some 20 firms last week that they pulled out, citing an uncertainty in financial prospects for the Brazilia
IndustryApril 4, 2011
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Domestic construction orders to edge down
Korean builders’ domestic orders are expected to inch down this year due to a property market slump and economic uncertainties both at home and abroad, a report said Monday. According to the report by the Construction and Economy Search Institute of Korea, builders are likely to win domestic orders worth a combined 102.7 trillion won ($94.5 billion) this year, down 0.5 percent from a year ago. Bui
IndustryApril 4, 2011
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Hynix Semiconductor unveils advanced chip
Hynix Semiconductor Inc., the world’s No. 2 maker of computer memory chips, said Monday that it has developed an advanced DDR4 dynamic random access memory (DRAM) chip and will start mass production in the second half of 2012. Hynix developed the 2-gigabit DDR4 DRAM device based on 30-nanometer class process technology, it said in a statement. The energy-efficient DDR4 DRAM transfers data twice as
IndustryApril 4, 2011
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Regulator to control credit card spending
Package of measures against surging household debts to be unveiled SundayFinancial authorities plan to induce the public to control their use of credit cards to address rising household debts.Instead, the usage of check cards ― which refer to cards containing functions of both credit and debit cards ― will likely be promoted.The policy, aimed at easing the financial burden of debt-saddled low- and
April 4, 2011
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More Koreans feel the pinch of rising commodity prices
Nine out of 10 Koreans think the prices of everyday necessities have risen compared to three months ago, a survey said. Nielsen Company Korea, a research firm, said the results came from its survey conducted between Feb. 25 and March 4 this year, targeting 1,000 Internet users in major cities including Seoul, Gwangju and Busan. Local consumers thought meat prices had risen the most, followed by ag
April 4, 2011
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More families are adopting HIV-positive children
(MCT)The immediate task might be coaxing a toddler into one more swallow of nasty-tasting medication. Longer term, there are tough choices to be made about telling that child, and the surrounding community, why those daily doses may be needed for the rest of his or her life.While most adoptions present challenges, there is a distinctive set of them facing parents who decide to adopt children livin
TechnologyApril 4, 2011