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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Businesses cash in on wallet-less payment
On the nation’s busiest shopping street in Myeong-dong, central Seoul, visitors do not need to pull out their wallets to make a purchase at some 200 stores. As the area has recently been designated a trial zone for near-field communication-based mobile payments, they can simply swipe their smartphones to pay or use royalty points. In addition to mobile payments, an NFC door at a theater puts smartphones in vibration mode automatically, while lining up for an order is also unnecessary at some caf
Nov. 22, 2011
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Construction orders from Saudi Arabia top $100b
Construction orders won by South Korean builders from Saudi Arabia topped a landmark $100 billion this week for the first time in nearly four decades, a trade association said Tuesday.According to the International Contractors Association of Korea, deals in Saudi Arabia that South Korean builders won reached a cumulative $100 billion as of Tuesday, 38 years after a South Korean company first clinched an order from the Middle Eastern country in 1973.It is also the first time that South Korean bui
Nov. 22, 2011
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Samsung in final talks for Google TV: president
SEOUL, Nov. 22 (Yonhap) -- Samsung Electronics Co.'s president said Tuesday it is in the final stage of negotiations with Google Inc. to manufacture Internet-connected TVs powered by the U.S. company's software. Yoon Book-keun, president of Samsung's digital media business, said talks between the tw
Nov. 22, 2011
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Samsung, LG grab top spots in global flat-panel TV market
Samsung Electronics and LG Electronics, the country’s television makers, took the top two positions as flat-panel TV vendors in the third quarter, according to an industry report Monday.A report released by market research firm DisplaySearch said that Samsung came in No. 1, taking over 19 percent of the global flat screen TV market in terms of total units sold, while its rival LG followed closely behind in second place with 12 percent.The report also said a total of 55.68 million units of flat-p
Nov. 21, 2011
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Chaebol choose not to chase domains named after tycoons
Korea’s major conglomerates are reminiscing about their failures to secure Internet domains named after their founders and scions as eBay put the domain leebyungchull.com up for auction.The starting price for the domain named after the Samsung founder is $21 million, or about 23.9 billion won on the American auction and shopping site.The chaebol, however, has no plans to purchase domain names for high prices from the so-called domain hunters. “There is no reason to spend so much money to buy the
Nov. 21, 2011
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Telecom carriers to block voice phishing calls
The government plans to oblige local telecommunication companies to block official-looking voice phishing calls from abroad starting as early as 2013, the Korea Communication Commission said Monday. Under a pending revision to the Telecommunications Business Act, the agency said, international phone calls would be cut off when they display the numbers of public organizations such as police stations and banks. When con artists use local, random numbers, telecom operators will offer calling identi
Nov. 21, 2011
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10 largest conglomerates’ net earnings tumble in Q3
Third-quarter net earnings of the nation’s 10 largest conglomerates plunged from three months ago thanks to the weak domestic currency and slowing demand in the U.S. and Europe, with LG Group posting an unprecedentedly large net loss of over 400 billion won.Apart from SK Group, Korea’s nine other top conglomerates saw their profits drop in the July-September period as the fiscal crises in advanced economies deepened global economic woes.Ten listed subsidiaries of LG Group, excluding the financia
Nov. 21, 2011
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LG employees participate in winter charity activities
LG Group said Monday that 12,000 employees at its seven affiliates will participate in 30 different kinds of year-end social contribution activities.With a theme focusing on love and sharing, the LG Welfare Foundation will be taking part in making kimchi and delivering the group’s electronic products to the underprivileged throughout this week, according to LG officials.The group’s other affiliates, including employees of LG Electronics’ Pyeongtaek plant, will also participate in making kimchi a
Nov. 21, 2011
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Tax dodgers named online
Former JU Group CEO owes most in unpaid taxesThe National Tax Service on Monday revealed a list of 1,313 tax dodgers, with their names made public via the Internet for the first time here.Names on the list, including 686 individuals and 627 corporate bodies, failed to pay taxes of 700 million won ($615,000) or more over the past two years. The taxation agency said the number of tax dodgers decreased by more than half compared to last year’s 2,797, while the amount of unpaid taxes declined from 5
Nov. 21, 2011
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Philip Morris files claim against Australia on packaging law
Nov. 21 (Bloomberg) -- Philip Morris International Inc. served an arbitration notice against the Australian government to claim 'millions of dollars' in damages after the nation passed the world's first plain-packaging law for cigarettes.The passage of the law today violates Australia's Bilateral In
Nov. 21, 2011
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Telecom market for overseas Koreans to reach W1.5 trillion by 2015: report
The telecommunication market for overseas Koreans will see a boost in sales as more of them want to stay connected to their roots, an industry report concluded Sunday. According to DigiEco, a KT Corp.-affiliated think tank, the telecom market for overseas Koreans is expected to reach 1.5 trillion won ($1.3 billion) by 2015, a 36 percent increase from 1.1 trillion won this year. The report, which analyzed the influence of 90 million overseas Koreans in the IT sector, found the market for mobile p
Nov. 20, 2011
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LG, Woongjin clash over water purifier commercial
A water purifier commercial has become the latest source of tension between LG and Woongjin over air purifiers and cosmetics.Woongjin Coway requested LG Electronics to stop airing its Healthcare water filter commercial, accusing it of slandering Woongjin products.The LG television commercial says: “Water put in a plastic tank is for washing, not drinking.”LG Electronics water purifiers use water tanks made of stainless steel, while Woongjin’s are fitted with plastic tanks.“The use of the express
Nov. 20, 2011
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Hyundai Heavy launches transformer plant in U.S.
Hyundai Heavy Industries Co. said Sunday it had opened a transformer factory in Alabama to get a toehold in the North American electric equipment market. Located near Montgomery, the state’s capital, the $100 million facility is capable of producing some 200 power transformers of up to 500 kilovolt annually. The world’s largest shipyard broke ground in September last year. The new plant will save the Korean company costs and time on shipping and provide a starting point to branch out into Latin
Nov. 20, 2011
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Tefal still hungry for growth
Company aims to boost Rowenta brand to the level of TefalIn the late 1990s, the French cookware and home appliance brand Tefal was preparing to show its first TV commercial for “non-stick” frying pans in Korea. The Korea Broadcast Advertising Corporation refused to approve it, saying the slogan “the pan that really doesn’t stick” was an exaggeration. Kay Paeng, then marketing manager for the brand, visited the advertising regulator’s office on a Saturday and cooked eggs without using oil in fron
Nov. 20, 2011
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POSCO develops own steel welding equipment
POSCO has developed a steel welding machine as part of its efforts to cut costs and localize equipment, the company said Sunday.The latest welder, which will be used to sever and fuse steel plates together, is designed to offer clean sheared edges with precision and prevent corrosion during the process using lasers, officials said.The world’s fourth-largest steelmaker said it embarked on a project early last year to craft a substitute for pricey welding tools it has sourced from Germany for deca
Nov. 20, 2011
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LG Electronics readies for comeback
LG Electronics, the world’s No. 3 handset maker, is striving to bounce back by the first half of next year with smartphones running on fourth-generation Long Term Evolution technology.On Friday, shares of LG Electronics rose 1,600 won, or 2.44 percent, from the previous day to close at 67,200 won per share. The stock price had plunged to 61,600 won when the announcement came on Nov. 3 that the company would issue new shares for the first time in six years.The main reason for issuing new shares w
Nov. 20, 2011
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Dongwon to buy cannery in Senegal
Korean food and financial conglomerate Dongwon Group said Friday it plans to take over a Senegalese cannery for $21 million as part of efforts to expand its presence in Africa and Europe.Dongwon said it will establish a new entity in the African nation after purchasing SNCDS, one of the largest canneries in Senegal.SNCDS produces 25,000 tons of canned tuna and other fishery products per year.Dongwon Group’s affiliates include Dongwon Industries Co., the world’s biggest tuna fishing company, and
Nov. 18, 2011
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SK Telecom buys 7.47% stake in Hynix
SK Telecom Co., South Korea’s largest mobile operator, said Friday that it bought a 7.47 percent stake in Hynix Semiconductor Inc. for 1.08 trillion won ($949.32 million), a move that followed the carrier’s contract to buy the chipmaker from its creditors. SK Telecom bought 44.25 million existing shares of Hynix at a price of 24,500 won each in the after-hours trading session on Thursday, it said in a regulatory filing.On Monday, SK Telecom agreed with eight creditors of Hynix led by Korea Excha
Nov. 18, 2011
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Hyundai-led group applies for 4th telecom slot
IST consortium to vie with KMI, seek investment from small businessesThe Korea Communications Commission announced Friday that Internet Space Time, a consortium invested by Hyundai Group, submitted its application to be the country’s fourth telecom, staging a fight against rival Korea Mobile Internet.“We plan to service true fourth generation wireless communication networks that put users at the center of the services, and create networks which are demanded by the users to open the Web 3.0 era,”
Nov. 18, 2011
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Builders face bankruptcy amid property slump
Limkwang Engineering & Construction’s application for court receivership Thursday sent jitters across similar-sized builders in a liquidity crisis due to excessive project financing amid a prolonged property market slump.A reduction in public construction orders and the inability to redeem project financing loans have pushed scores of construction companies to the verge of bankruptcy.Pressed by surety obligations on project financing loans and a lack of new orders, Limkwang, ranked 40th in the c
Nov. 18, 2011