Most Popular
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[Grace Kao] American racism against Stray Kids
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
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Controversy brews over shakeup of prosecutors amid probe of first lady
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OpenAI gives ChatGPT new powers to see, hear
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Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
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[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
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S. Korea to inject $70m into AI-powered public education
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[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
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Korean industries gauge impact of Biden's steep tariffs on China
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Kumho Asiana, Kumho Petrochemical complete split
Kumho Asiana Group, led by chairman Park Sam-koo, was set to complete on Wednesday its legal separation from Kumho Petrochemical Group headed by his brother Chan-koo.Park Sam-koo and his son Se-chang began the block sale of all of their shares in Kumho Petrochemical worth 409 billion won Tuesday evening through Daewoo Securities and Nomura Securities, Kumho officials said. A discount rate of 6.95 percent was applied on Tuesday’s closing price of 165,500 won per share, making the sale price 154,0
Nov. 30, 2011
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KCC upping pressure to resume HD broadcasts
The Korea Communications Commission said on Wednesday that it is considering sanctioning terrestrial broadcasters and cable TV operators over the unprecedented halt of high definition broadcasting. Cable TV operators stopped airing the programs by terrestrial broadcasters MBC, KBS and SBS in high definition on Monday, forcing some 7.7 million viewers to watch lower-quality public broadcasts. With their talks on retransmission fees being stalled for more than a week, the KCC plans to meet represe
Nov. 30, 2011
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Korea to transfer oil plant tech to Mexico
South Korea will transfer its technology for offshore drilling facilities to Mexico, a move that could open new opportunities for Seoul to take part in the latter’s future oil development projects, a state think tank said Wednesday.Under an agreement signed between the Korea Ocean Research & Development Institute and Mexico’s national petroleum institute IMP, KORDI will transfer its technology, including for floating drilling facilities, to the Mexican research center in the next three years.The
Nov. 30, 2011
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Petroleum product exports surge 36.4%
South Korean exports of gasoline, diesel and other petroleum products jumped 36.4 percent on-year last month on higher prices and growing overseas demand, the government said Wednesday.The country’s exports of petroleum products, in terms of volume, grew only 1.6 percent to 38.35 million barrels, but the value of its shipments jumped to $4.54 billion from $3.33 billion in the same month last year, according to the Ministry of Knowledge Economy.“Exports to other Asian countries increased with shi
Nov. 30, 2011
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STX Offshore wins W229b frigate deal
STX Offshore & Shipbuilding Co., a South Korean shipbuilder, said Wednesday that it has won a 229 billion won ($201 million) order to build two frigates.Under the deal with the Defense Acquisition Program Administration, the country’s defense procurement agency, STX Offshore will deliver the vessels by the end of 2015.South Korea is planning to build 20 new frigates by 2020 under a naval buildup project code-named “FFX.” (Yonhap News)
Nov. 30, 2011
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Korea to transfer oil plant tech to Mexico
South Korea will transfer its technology for offshore drilling facilities to Mexico, a move that could open new opportunities for Seoul to take part in the latter’s future oil development projects, a state think tank said Wednesday.Under an agreement signed between the Korea Ocean Research & Development Institute and Mexico’s national petroleum institute IMP, KORDI will transfer its technology, including for floating drilling facilities, to the Mexican research center in the next three years.The
Nov. 30, 2011
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Korea to host OECD economic forum
South Korea will host a global forum of the Organization for Economic Cooperation and Development in 2012 that will discuss ways to improve the world economy, officials said Wednesday.The OECD Forum on Knowledge Economy will be held in September 2012, involving some 300 government officials, experts and business representatives from around the world, according to the country’s Ministry of Knowledge Economy.“The 2012 forum to be held in the country will focus on industrial development of Asian co
Nov. 30, 2011
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Prada defies financial crisis, sales up thanks to Asia
MILAN, Nov 29, 2011 (AFP) - Italy's fashion brand Prada saw sales increase 25 percent over the first nine months of the year, with Asia reconfirming itself as the main market for luxury goods, the group said Tuesday.Prada Spa, which floated on the Hong Kong stock exchange in June, announced net prof
Nov. 30, 2011
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STX chief champions stability
STX Group chairman Kang Duk-soo vowed to focus on profits and stable growth to keep the conglomerate afloat amid a somber outlook for the global economy, company officials said Tuesday.Kang, who built the nation’s 12th-largest business group in terms of asset value through aggressive mergers and acquisitions of shipbuilding, shipping and heavy industries companies, announced last month that STX will not push for any large M&As after dropping its bid to buy Hynix Semiconductor. STX affiliates rec
Nov. 29, 2011
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LG chairman focuses on future growth projects
LG Group chairman Koo Bon-moo is leading the drive to nurture future growth projects as he made his trip to LG Chem’s liquid-crystal display plant in Paju, Gyeonggi Province, on Tuesday.The visit was Koo’s seventh to the group’s part-supplying affiliates’ plants as the chairman is continuing with LG’s efforts to take the lead in the global market. He visited the battery plant for electric vehicles in February, the solar wafer factory in April and the film-patterned retarder 3-D film plant in May
Nov. 29, 2011
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LGE targets 50% cut in carbon emissions in U.S.
LG Electronics Inc. said Tuesday it aims to halve its greenhouse gas emissions in the U.S. from 2007 levels by 2020 in efforts to boost renewable energy and help combat climate change.The target, which translates to 7,000 metric tons, is the latest in a string of programs adopted by the world’s No. 2 television maker to enhance its environmental credentials amid tightening regulations at home and abroad.To that end, the Korean firm plans to scale up the use of green resources such as wind and bi
Nov. 29, 2011
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Hi Mart management feud escalates
Shareholders to cast crucial vote on replacing CEO on WednesdayThe management feud between Hi Mart, the nation’s largest electronics appliance retailer, and its major shareholder Eugene Corp. was escalating Tuesday, ahead of a shareholders’ meeting scheduled for Wednesday. Amid fierce resistance from 5,000 Hi Mart employees, shareholders plan to vote on a proposal to replace CEO Sun Jong-koo, the founder and second-largest shareholder of the company. An ad-hoc committee supporting Sun to stay sa
Nov. 29, 2011
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New TV channel targets mobile viewers
A new broadcasting station has been set up here to air its original programs exclusively for smartphone users, the channel, Sonbadak TV, said Tuesday. Sonbadak TV, named after the Korean word for “palm,” is the world’s first channel to pump out programming on a regular basis only for mobile TV viewers, it claimed. The channel plans to air live programs for four hours a day from Friday, with well-known TV celebrities such as MBC anchorman Choi Il-koo and comedian Park Myung-soo joining as show ho
Nov. 29, 2011
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Volunteer work highlights KEPCO’s social services
Volunteering has been at the core of Korea Electric Power Corp.’s efforts to fulfill its social responsibility as the nation’s sole supplier of electricity.KEPCO launched its social volunteer corps in May 2004 under the slogan “Light to the World, Love to the Neighbors” for systematic and specialized volunteer services for the underprivileged. About 19,600 KEPCO employees in 272 volunteer groups across the nation take part in a variety of programs for social contribution.The focus of their lates
Nov. 29, 2011
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Daelim to upgrade refinery in Philippines
Daelim Industrial Co., Korea’s fifth-largest builder, said Tuesday it recently won a $2 billion contract to upgrade a crude refining plant in the Philippines.Under the deal with Petron Corp., the Southeast Asian country’s largest refiner, Daelim will be in charge of engineering, procurement and construction of the factory in Limay, 150 kilometers southwest of Manila, by early 2014.When completed, the facility will be able to churn out more profitable petrol products by converting heavy distillat
Nov. 29, 2011
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Hyundai charity to back startup hopefuls
Asan Sharing Foundation, a charity founded by Hyundai Heavy Industries and its affiliates, launched an institution on Tuesday in Seoul to help nurture young entrepreneurs.The institution is the maiden project for the charity, which was set up last month by Hyundai Heavy’s largest stakeholder, Rep. Chung Mong-joon of the ruling Grand National Party, and chiefs of the shipbuilder’s affiliates with 500 billion won ($435.8 million). Asan is the pen name of late Hyundai Group founder Chung Ju-yung.Lo
Nov. 29, 2011
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Groupon Korea fined for posting deceptive reviews
South Korea's antitrust watchdog said Monday that it has fined Groupon Inc.'s Korean office for posting fake reviews and for fabricating the number of products sold.An employee at Groupon Korea wrote 147 reviews of products on the Groupon Web site pretending to be a customer who purchased and used t
Nov. 28, 2011
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Samsung rolls out Galaxy Note
Samsung Electronics rolled out the new smart device Galaxy Note, which has characteristics of both smartphones and tablet PCs, in Seoul on Monday.The local electronics giant also unveiled two other gadgets in its Galaxy series ― the Galaxy Nexus smartphone and the Galaxy Tab 8.9 LTE.The gadgets were previously introduced at global events like the IFA electronics trade show in Berlin, but the 5.3-inch Galaxy Note and the Galaxy Tab 8.9 released here could run on the fourth-generation communicatio
Nov. 28, 2011
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Amore Pacific to build new facilities in Shanghai
Amore Pacific on Monday held a groundbreaking ceremony for its new production and research facilities in Shanghai, which the company said will boost its efforts to expand Chinese business. The cosmetics company says it plans to renovate its existing production center, which opened in 2002, and build new facilities on the 92,788 square-meter site in Jiading District, northwestern Shanghai. When construction is completed in March 2013, the facilities will be the largest in China established by a K
Nov. 28, 2011
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Nexon slammed over security measures
Nexon on Monday announced a plan to strengthen security measures against hacking, but faced a public backlash after a massive leak of personal information of millions of users. On Thursday, the company found that its massively multiplayer online role playing game “Maple Story” had had its backup server hacked and the information of 13.2 million of the 18 million registered users had been stolen.This is the third-largest case of its kind in the three months since the biggest-ever hacking case in
Nov. 28, 2011