Most Popular
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Seoul vows action over Naver's Line, Yahoo dispute
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[KH Explains] Hyundai Motor’s plan for new landmark keeps hitting bumps
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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[Grace Kao] American racism against Stray Kids
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Samsung doubles down on Vietnam
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In Beijing, S. Korean top diplomat aims to jumpstart ties with China
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NewJeans' members' parents complained to Hybe, email shows
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Suspect behind murder of Korean tourist in Pattaya arrested
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Prosecutors summon pastor involved in Dior bag scandal
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‘Smart’ society the norm two years after iPhone’s arrival
“Smart” is no longer an unfamiliar word in Korea especially two years after the iPhone was introduced in the country.Since the iPhone was released on Nov. 28, 2009, unveiling what we call the smartphone for the first time, a series of smart devices ― such as tablet PCs, televisions, refrigerators and vehicles ― have been released.A number of smartphones developed by local companies Samsung Electronics and LG Electronics have also been rolling in and out of the country following the popularity of
Nov. 27, 2011
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Firms’ earnings forecasts lowered
Estimated profits for local companies pushed down with deepening fiscal crises in Europe Major Korean companies’ earnings forecasts for next year are falling on rising economic uncertainties as fiscal crises deepen in Europe, with lowered credit ratings for Italy, Spain, Portugal and Belgium.France may be next as its debt ratio and government bond yields have reached alerting levels. The combined operating profit estimates of 132 listed companies dropped 8.89 percent from 134.8 trillion won ($11
Nov. 27, 2011
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Korea to build facilities on Dokdo
Plan to install sea wall, tourist facilities draws protest from JapanSouth Korea will establish a new sea wall and tourist facilities in waters off Dokdo by as early as 2016, aiming to bolster its control over the long-disputed rocky islets, officials said.The plan is the latest in a series of the government’s measures to guard against Japan’s repeated territorial claim over the islets, which it calls Takeshima. Seoul officials said the 400 billion won ($344.4 million) package aimed to galvaniz
Nov. 25, 2011
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Korea-U.S. FTA a boon to airline, textile industries
Increase in trade volume to boost air cargo revenue; removal of high tariffs on textiles to help raise market shareThe airline and shipping industries are among those expected to benefit the most from the free trade agreement between Korea and the United States due to an increase in two-way cargo shipments.The FTA will also be a boon to the Korean textile industry, mostly made up of small and medium-sized businesses, as the U.S. tariff on textiles, which goes up to 32 percent, will be removed. A
Nov. 24, 2011
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Google expands cooperationwith Korean companies
U.S. search giant signs pact with POSCO, joins forces with Samsung, LG for Google TVGoogle Inc. is expanding cooperation with Korean companies, signing a preliminary deal with POSCO to provide technological support to upgrade the steelmaker’s operations.The world’s third largest steelmaker inked a memorandum of understanding with the IT giant on Wednesday to share Google’s info-tech and corporate values. Google’s advanced technologies can be used for three-dimensional modeling before building st
Nov. 24, 2011
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FTA likely to dampen growth of local broadcasting sector
Limited impact expected on telecom sector, while protection for intellectual property strengthenedThe free trade agreement between Korea and the United States is expected to hit the nation’s small broadcasting and production companies particularly hard.Under the pact, direct investment by foreign nationals into local program providers will be limited to the current level of 49 percent of shares.But if they set up a local branch and invest indirectly, 100 percent ownership will be allowed at netw
Nov. 24, 2011
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Korea-U.S. FTA to boost electronics, IT sector
Limited impact may be seen on trade tariff elimination, but pact will enhance nation’s brand, imageThe Korea-U.S. Free Trade Agreement is likely to boost the local information technology sector as trade costs are expected to drop through the implementation of the pact.The biggest benefit of the trade pact is that tariffs will be eliminated on over 6,000 electronic goods, including home appliances. Tariffs will be eliminated at different times depending on the product.According to a report releas
Nov. 24, 2011
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Slugger Lee named goodwill ambassador for Singapore
The Lotte Giants’ former circuit slugger Lee Dae-ho has been named a goodwill ambassador for Singapore Airlines and the Southeast Asian country’s tourism board, the carrier said Thursday.“Through Lee, a baseball star who represents Busan, we hope to invigorate Singaporean tourism among Busan citizens and reinforce ties between Busan and Singapore,” Lim Wee Kok, regional vice president of Singapore Airlines, said at a ceremony on Wednesday in Busan. Lee’s appointment coincides with Singapore Airl
Nov. 24, 2011
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Home-shopping channels agree to cut commission fees
Smaller-than-expected fee cuts will affect less than 50 percent ofvendors: FTCThe nation’s major home-shopping channels and supermarket chains have agreed to reduce commission fees for small- and medium-sized vendors by three to seven percent, antitrust authorities said Thursday. The Fair Trade Commission, however, pointed out that the smaller-than-expected fee cuts would affect fewer than half the vendors, denouncing companies for their lack of willingness to share growth with smaller firms.Acc
Nov. 24, 2011
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Daewoo International donates W100 million for social enterprises
Daewoo International Corp. said Thursday it has donated 100 million won ($86,300) to help set up a social enterprise as part of its social contribution campaign.The POSCO-affiliated trading firm said it has been backing a childcare center for multicultural families, which is gearing up to transform into a social enterprise in 2012. The plan needs approval from the Ministry of Employment and Labor. Operated by a community welfare center in southwestern Seoul, the facility has looked after nearly
Nov. 24, 2011
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Terrestrial, cable TV firms in last-minute negotiations
The possibility of a last-minute agreement between the terrestrial broadcasters and cable TV operators is gaining increased attention as the two sides made last-ditch efforts over the broadcasts of public channels on Thursday.“The two groups are currently engaged in negotiations without putting a stop to airing programs of terrestrial broadcasters, a measure devised not to cause any inconvenience to cable TV watchers,” said Kim Jun-sang, director-general of the broadcasting policy bureau at the
Nov. 24, 2011
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Apple moves production to Sharp for TV debut, Jefferies says
Nov. 23 (Bloomberg) -- Apple Inc. is shifting production of iPhone and iPad displays to Sharp Corp. in Japan and may introduce a television with screens from the same partner as early as the middle of 2012, Jefferies & Co. said.Apple is moving its business to Sharp largely at the expense of Samsung
Nov. 24, 2011
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Moody's downgrades Hyundai Steel's outlook to negative
HONG KONG, (Yonhap) -- Moody's Investors Service said Wednesday that it has cut its outlook on Hyundai Steel Co. to negative from stable, citing increased challenges surrounding the regional steel industry and the company's more aggressive investment strategy. Last December,
Nov. 23, 2011
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Ex-Thai leader Thaksin drawn to Korean-type anti-flood program
Thailand’s ex-premier Thaksin Shinawatra said Wednesday he has taken lessons from Korea’s mega river project for his own country’s flood prevention mechanism. The 62-year-old fugitive former leader embarked on a two-day tour on Tuesday to sites that have been refurbished under the 22 trillion won ($19.1 billion) program to ratchet up water security, flood control and beauty in the basins of Korea’s four main rivers ― the Han, Geum, Yeongsan and Nakdong. Thaksin is the older brother of the curren
Nov. 23, 2011
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Thaksin mulls adopting Korean-type anti-flood program
Thailand’s ex-premier Thaksin Shinawatra said Wednesday he has taken lessons from Korea’s mega river project as a benchmark for his own country’s flood prevention mechanism. The 62-year-old fugitive former leader embarked on a two-day tour on Tuesday to sites that have been refurbished under the 22 trillion won ($19.1 billion) program to ratchet up water security, flood control and beauty in the basins of Korea’s four main rivers – the Han, Geum, Yeongsan and Nakdong.His visit coincides with the
Nov. 23, 2011
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POSCO, Google sign MOU to share technologies, values
POSCO on Wednesday signed a memorandum of understanding with Google Inc. to share the U.S. search engine company’s technologies to improve its operations and corporate values.The partnership was built upon POSCO chairman Chung Joon-yang’s proposal during Google executive chairman Eric Schmidt’s visit to Korea early this month.Chung and Schmidt discussed how to use Google’s corporate service and future business opportunities, POSCO said.Under the MOU, the steelmaker plans to establish a new manag
Nov. 23, 2011
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KT gets green light to end 2G service next month
The Korea Communications Commission granted KT Corp. permission to end its feature phone service beginning on Dec. 8.The state telecom regulator said KT will have two weeks to inform its existing 159,000 feature phone users by at least two different methods ― including mail ― that they will need to change to smartphones running on third generation (3G) networks or choose other mobile service operators.This indicates that KT will begin building ground to launch its fourth generation (4G) network
Nov. 23, 2011
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Stronger patent rights set to pummel local drug makers
U.S. drug giants to benefit, while Korean generic production suffersThe country’s pharmaceutical companies face tough times ahead with the new Korea-U.S. Free Trade Agreement poised to strengthen patent rights for U.S. drug giants, heaping strain on the generic-focused Korean industry.Skyrocketing demand for beauty and health products catapulted Korea to the world’s 12th-largest pharmaceutical market valued at about $10 billion. Medicine takes up about 30 percent of the nation’s entire health ca
Nov. 23, 2011
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FTC to order retailers to cut commissions
Home-shopping firms charge vendors up to 55 percent of sales as fees: FTCThe Fair Trade Commission is speeding up its efforts to lower commission fees for major retailers following an agreement reached after months of tug-of-war with the nation’s top three department stores early this month. In the latest move to do so, the antitrust regulator on Tuesday released the results of its survey on transactions among major home-shopping TV channels and supermarket chains. The FTC said that the nation’
Nov. 23, 2011
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Korea aims for top 3 in exports of atomic plants
Korea will finalize by the year-end its blueprint to become one of the world’s three largest nuclear power plant exporters with the U.S. and France by 2030, the Ministry of Knowledge Economy said Wednesday. According to the roadmap dubbed “Nu-Tech-2030,” Korea aims to develop its own core technologies by the end of next year and achieve a market share of 20 percent in global nuclear power plant orders by 2030.The country also plans to develop new technologies to enhance the safety of atomic powe
Nov. 23, 2011