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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Nongshim launches new instant rice noodles
Nongshim, the nation’s leading food maker, has produced a diverse range of instant rice noodle products since 2010 when the company’s Noksan factory was completed in Busan. Rice noodles, unlike flour-based noodles, make consumers feel full despite being low in calories. They are also a digestible, light food that can be enjoyed by all age groups. The noodles, produced in the new factory line, are unprecedented, the company said. By applying Korea’s traditional food to instant noodles, Nongshim h
Nov. 13, 2011
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Businesses target style-conscious men
On a weekday afternoon, men populate the sixth floor of Shinsegae Department Store in Banpo-dong, southern Seoul, which has recently been renovated in a push for more male customers. Many of them shop alone or with their male friends ― a rare scene in Korea where mothers, wives or girlfriends still dominate purchases of men’s fashion.“Women used to stroll through the men’s floor on weekdays and then bring their sons or husbands on weekends for a quick purchase,” said Lee Sang-heun, a sales manag
Nov. 11, 2011
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Probe targets chaebol heiresses’ bakery businesses
The Fair Trade Commission has launched a probe into allegations that some bakery businesses run by heiresses of conglomerate families have received preferential treatment from those business groups’ affiliates.Industry sources said Friday that antitrust authorities raided the head office of Bliss, owned by Jang Sun-yoon, daughter of Lotte Shopping president Shin Yong-ja, on Oct. 16 and probed transaction details. The Korean license of the French gourmet food company Fauchon has opened 12 shops a
Nov. 11, 2011
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SKT becomes sole bidder for Hynix
SK Telecom, the nation’s top mobile carrier, submitted its final bid on Thursday to take over Hynix Semiconductor, becoming a sole bidder, creditors said.Credit Suisse, one of the co-sale brokers for the deal, received SKT’s bid to acquire a 15 percent stake in the world’s No. 2 memory chip maker, said officials at Korea Exchange Bank, the main creditor.The creditors plan to select a preferred bidder on Friday and conduct price negotiations with the selected company. SKT tendered the last-minute
Nov. 10, 2011
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Earnings
NCsoft’s Q3 net dives 29% on weak overseas salesNCsoft Corp., a leading online game developer in South Korea, said Thursday its third-quarter income plunged 29 percent from a year earlier on lower revenues from overseas markets. Net profit reached 27.88 billion won ($24.92 million) in the July-September period, compared with 39.5 billion won on year ago, the company said in a regulatory filing.Sales fell 6 percent on-year to 147.6 billion won in the three months, while operating profit slumped 3
Nov. 10, 2011
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Hyundai rush on U.S. demand boosts airline
Hyundai Motor Co.’s race to meet U.S. demand for Elantra and Sonata cars is helping South Korean air-cargo carriers withstand a global freight slump.Korean Air Lines Co., the nation’s biggest carrier, boosted U.S. auto-part shipments 16 percent in the first 10 months as Seoul-based Hyundai and affiliate Kia Motors Corp. ramped up U.S. production because of surging sales. Second-ranked Asiana Airlines Inc. has also seen a pick-up in component shipments that has slowed an overall decline in volume
Nov. 10, 2011
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Samsung donates ‘smart classroom’
Samsung Electronics has established a “smart classroom” and donated it to Nohwa Elementary School on Wando in South Jeolla Province, the company said Thursday.The smart classroom offers an electronic board and dozens of Galaxy Tab 10.1, a tablet PC manufactured by Samsung.The establishment of a smart classroom is part of Samsung’s efforts to boost the learning environment for children living on remote islands in Korea. The digitalized classroom works by connecting students’ Galaxy Tabs and an el
Nov. 10, 2011
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NEXON to join venture with China game firm
BUSAN ― NEXON announced Thursday that it will set up a joint venture in Korea with Chinese online game developer Perfect World Co.NGL, an abbreviation of Next Game Life, will be headed by NEXON’s Cho Sung-won and will be given priority when choosing among a pool of the Chinese developer’s games to service, Cho said at a press conference held on the sidelines of G-Star 2011.“NGL will be in charge of localizing the contents of games chosen to release by NEXON along with its operations and customer
Nov. 10, 2011
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In Myeong-dong, mobile phones replace credit cards
Telecom operators, credit cards, KCC team up to provide mobile payment systemThe nation’s busiest shopping street in Myeong-dong has been designated as a trial zone for near field communication-based mobile payments from Thursday for three months. It is unprecedented in the world, said the Korea Communication Commission’s Choi See-joong during the launching event held at the popular tourist spot in central Seoul. Visitors who have cell phones with a NFC chip will no longer need to carry their cr
Nov. 10, 2011
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Korea braces for winter power shortage
The government on Thursday mapped out a set of measures to ensure stable electricity supply for this winter including mandatory usage cuts for large firms and maximum temperature limits for commercial buildings.The package is aimed at coping with demand spikes during the winter months and averting the recurrence of nationwide blackouts that battered Korea in mid-September amid an unseasonable heat wave. Knowledge Economy Vice Minister Kim Jung-gwan said his agency will be struggling to maintain
Nov. 10, 2011
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G-Star launches with an array of mobile games
BUSAN ― As the country’s largest game trade show G-Star launched on Thursday, it showcased games designed exclusively for smartphones, the most attention-grabbing trend for this year.Mobile game firm Com2us, which set up its booths at G-Star for the first time, featured up to 15 new mobile games, including “Tiny Farm,” “Escape the Ape,” “Puzzle Family” and “MiniGame Paradise.”“The competitiveness and graphic quality of mobile games are now meeting users’ expectations,” said a Com2us official.Wem
Nov. 10, 2011
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Samsung introduces new Slate PC
Samsung Electronics on Wednesday unveiled its brand new “Slate PC Series 7,” the combination of a tablet and a laptop.The Samsung’s latest PC, running Microsoft’s Windows operating system, offers the key functions of tablet PCs such as e-books and mobile applications, the tech giant said.“The Slate PC reflects the consumer demands for a device that puts together the benefits of tablets and laptops,” Samsung’s executive vice president Nam Seong-woo said during a media event at the company’s headq
Nov. 9, 2011
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KONEPA to host art festival during 2012 nuclear summit
The Korea Nuclear Energy Promotion Agency and the 2012 Seoul Nuclear Security Summit Preparatory Secretariat will co-host the International Children’s Peace Art Festival in celebration of the summit forum in Seoul early next year, KONEPA officials said Wednesday.The event will be held on the sidelines of the global summit in March and it is expected to raise the next generation’s awareness of the peaceful use of nuclear energy, the officials said. Participants will be creating paintings on given
Nov. 9, 2011
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Business backing helps Korean sports flourish
Conglomerate chiefs bring funds, facilities and passion to sportsSports in Korea, as with many other areas of Korean society, have advanced at a rapid pace.In some fields such as archery, golf and wrestling, the country has grown to be a force to be reckoned with on the international stage in a relatively short period of time.While the sports themselves are very different, they have one common theme: backing from a business tycoon.Archery in the Olympic Games has been dominated by Korea for dec
Nov. 9, 2011
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Samsung top mobile phone vendor in 3 of 6 regions
Samsung Electronics Co., the world’s No. 2 handset maker, was the biggest mobile-phone vendor in three out of six regions in the third quarter, including Western Europe, a market report showed Wednesday.The report released by Strategy Analytics also noted that Samsung is closely competing with Nokia Corp., the world’s top handset maker, for global dominance as the Finnish firm lost ground in America and Western Europe. Samsung shipped 89.5 million handsets worldwide in the July-September period,
Nov. 9, 2011
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SK tries to keep calm over probe
SK Group has come under pressure once again to explain a string of scandals surrounding its chairman Chey Tae-won and his younger brother and vice chairman Jae-won after prosecutors raided the conglomerate’s headquarters in Seoul on Tuesday.Investigators are trying to untangle a web of suspicion involving the chairman’s 100 billion won ($89.4 million) loss from futures trading, group subsidiaries’ 280 billion won investment in a financial firm owned by a former executive and an alleged slush fun
Nov. 9, 2011
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Toyota recalls 550,000 cars globally
TOKYO (AP) _ Toyota Motor Corp. is recalling about 550,000 vehicles worldwide _ mostly in the United States _ for possible problems related to the crankshaft pulley on the engine that could make it harder to steer.Toyota's U.S. sales unit said in a statement Wednesday that if the problem isn't corre
Nov. 9, 2011
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Hyundai Heavy raises bet on earth-moving equipment
Hyundai Heavy Industries Co. is raising its bets on the construction equipment business as it begins making compact wheel loaders at its new factory in China.The world’s top shipyard said Tuesday it had completed the $49 million plant in Tai’an in eastern China with an annual capacity of 8,000 five-ton and three-ton wheel loaders, which are used to scoop up and move materials such as dirt and sand.“The company plans to set the plant as another base for growth in the world’s largest wheel loader
Nov. 8, 2011
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Samsung drops development of active shutter 3-D TVs
Samsung Electronics Co., the world’s top TV maker, said Tuesday that it has scrapped its plan to develop 3D TVs with RealD Inc. amid lingering uncertainties in the global TV market. A Samsung spokesman said that the company is no longer pursuing the development of the active shutter 3D TVs in a deal that was announced earlier this year with RealD, a 3D technology licensor based in California in the United States. Samsung Electronics plans is focusing on development and production of active shutt
Nov. 8, 2011
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Korea Post to slash banking fees
Korea Post, the state-run postal service agency, said Tuesday it plans to abolish or sharply reduce fees for financial transactions at post offices nationwide.To be implemented later this month, the new policy entails an exemption of all banking costs for low-income Koreans, people with disabilities, teen heads of household, college students, veterans and patriots.The agency also said it will scrap or cut 35 types of charges by up to 54 percent, such as for automated teller machines, wire transf
Nov. 8, 2011