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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Samsung doubles down on Vietnam
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[Grace Kao] American racism against Stray Kids
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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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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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[Graphic News] Over 80% of people filing bankruptcy in Seoul in their 50s and older
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Number of smartphone users tops 20m
The number of smartphone subscribers in South Korea surpassed the 20 million mark last week, with nearly 40 percent of South Korean residents carrying such mobile devices, according to data from the country’s telecom regulator released Sunday. South Korean smartphone subscribers numbered slightly more than 20 million as of Friday, including 10 million users with industry leader SK Telecom Co., 6.8 million at KT Corp. and 3.3 million at LG Uplus Corp., the data compiled by the Korea Communication
Oct. 30, 2011
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Ningbo Baoxin inks cooperation deal with LGE
HONG KONG (Yonhap News) -- Ningbo Baoxin Stainless Steel Co., a Chinese steelmaker, said Friday that it has signed a business cooperation agreement with South Korea’s LG Electronics Co., in a bid to boost their competitiveness in the global market.Under the deal, Ningbo Baoxin Stainless Steel and LG Electronics will strategically cooperate in developing new products and enhance their common vision and interests, the Chinese stainless steelmaker said. Also, the deal calls for Ningbo Baoxin to sup
Oct. 30, 2011
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SK Group supports social enterprises
U.N. chief Ban praises conglomerate as spearhead of social contributionLike most Korean conglomerates, SK Group has been placing increasing emphasis on corporate social responsibility programs in recent years.While most have chosen to do their part through donations, SK Group has focused its efforts on social enterprises under the guidance of chairman Chey Tae-won.According to SK Group officials, Chey believes that simple donations have limited efficacy in solving social problems and that social
Oct. 30, 2011
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SK Group seeks efficient mutual growth
Large and small companies need to break out of the traditional boundaries of the contractor-subcontractor relationship to bring about shared-growth, SK Group chairman Chey Tae-won said Friday.Chey and the heads of major SK Group firms including SKC and SK Networks met with the CEOs of 70 SK Group subcontractors to discuss means to bring about shared growth at a conference in Yongin, Gyeonggi Province.According to SK Group officials, chief executives of SK Group subsidiaries were included in the
Oct. 30, 2011
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Daelim Industrial inks $1.22b power plant deal in Saudi Arabia
Daelim Industrial Co., a South Korean builder, said Sunday that it has signed a $1.22 billion deal to build a power plant in Saudi Arabia.Under the deal with state-controlled Saudi Electricity Co., Daelim Industrial will build the combined-cycle plant by September 2014, the company said.The power plant, with a capacity of 1,200 megawatts, will be built in Shoaiba, some 120 kilometers south of Jeddah.Daelim will design, build and operate the plant, it added.The SEC’s power plant project is aimed
Oct. 30, 2011
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Shinsegae Group chief’s Twitter account hacked
Shinsegae Group vice chairman Chung Yong-jin’s Twitter account appears to have been hacked by an unknown entity. The hacker sent commercial tweets and spam messages to more than 119,000 of Chung’s followers and even changed the account ID to “@Acaiberry56” from “@yjchung68.”The vice chairman was not aware of the incident until he checked his account the next day on Oct. 29, according to news reports.About an hour after Chung’s explanation, an anonymous Twitter user joined the website again with
Oct. 30, 2011
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Hanwha to operate leisure resort in China
Hanwha China is to go into the hot-spring resort business in China in collaboration with a local company, Hanwha Group announced Sunday.Hanwha China is the Korean conglomerate’s subsidiary in charge of its operations in China.According to the conglomerate, Hanwha China signed a memorandum of understanding with China’s Yida Group to establish a joint venture for building and operating a leisure resort compound within the Longmen complex in Dalian, Liaoning Province. The Longmen complex is a 265-s
Oct. 30, 2011
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Watchdog fines LCD makers for price fixing
The Fair Trade Commission on Sunday levied a fine of 194 billion won ($175.9 million) on 10 flat panel makers including Samsung Electronics, for price-fixing their flat TV and notebook computers.The fine is the largest ever slapped on an international cartel, of which Korea’s LG Display and Taiwan’s liquid crystal display makers AU Optronics, Chimei Innolux Corp., Chunghwa Picture Tubes and HannStar Display Corp. are members, the watchdog said. The watchdog said the collusion included adjusting
Oct. 30, 2011
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Samsung's presence in U.S. 3D TV market weakens in Sept.
Samsung Electronics Co., the world's largest flat-screen TV maker, lost ground in the 3D TV market in the United States due mainly to increased competition, industry data showed Sunday.Samsung Electronics' market share stood at 49 percent in terms of 3D TVs sold in the U.S. last month, falling below
Oct. 30, 2011
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Samsung ordered to compensate local designer for copyrights infringement
Samsung Electronics Co., Korea's electronics giant, has been ordered to compensate a local designer for illegally using the designer's flower pattern creation on its refrigerator models, court records showed Saturday. The Seoul Western District Court recently delivered the order for the
Oct. 29, 2011
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Samsung posts forecast-beating quarterly earnings
But quarterly net income reaches 3.44 trillion won, 23 percent down on-yearSamsung Electronics on Friday posted 41.27 trillion won ($37.35 billion) in sales and 4.25 trillion won in operating profit for the third quarter of this year, a better-than-expected performance on the strength of record-breaking sales of mobile handsets.The world’s top memory chip supplier and second-biggest handset maker also recorded 3.44 trillion won in quarterly net income, representing a 23 percent decrease year-on-
Oct. 28, 2011
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Samsung to introduce flexible displays for mobile handsets in 2012
Samsung Electronics said Friday that it expects to introduce flexible displays for mobile handsets during the first half of 2012.“We’re looking to roll out flexible displays sometime in 2012, hopefully the earlier part rather than the latter,” Robert Yi, vice president of investor relations at Samsung Electronics, said during its quarterly earnings conference call.“We will start with handsets and migrate to tablet PCs and other devices.”Kang Bong-ku, vice president of the firm’s television busin
Oct. 28, 2011
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iPhone 4S gets radio approval
Apple’s latest smartphone iPhone 4S has gotten radio approval in Korea, the National Radio Research Agency said Friday. The radio approval, however, does not necessarily indicate imminent sales of iPhone 4S in Korea. The Apple handset will have to receive approval from the Korea Broadcasting Commission, with the launch date to be decided among local telecom providers. Considering that it took more than a month for the previous model iPhone 4 to be marketed here after radio approval, industry sou
Oct. 28, 2011
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Samsung Electronics Q3 net plunges 23 percent
Samsung Electronics Co., the world's top memory chip supplier and second-biggest handset maker, said Friday that its third-quarter earnings declined 23 percent from one year ago, hurt by a slow recovery in consumer electronics markets worldwide. Net profit reached 3.44 trillion won (US$3.09 billion)
Oct. 28, 2011
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Merck files pigment patent suit against two Korean companies
Merck Patent GmbH, the intellectual property arm of the chemicals and pharmaceutical group, said Thursday it has filed a lawsuit in Korea against CQV Co. and Sungmin Chemicals, claiming the two local firms infringed upon its patents for pigment technology.The Darmstadt, Germany-based company had attempted to resolve the patent issue with CQV after claiming that the Korean firm’s pearl luster pigments used to create unique gold color effects for cosmetics copied its products. Sungmin distributes
Oct. 27, 2011
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POSCO pledges W260 billion for ventures and small firms
POSCO will set up a 260 billion won ($230 million) fund to support shared-growth between large and small companies.The plans were announced at the company’s Idea Marketplace event in Seoul on Thursday.Of the 260 billion won, 160 billion won will be used for profit sharing and 50 billion won will be operated by the Large and Small Business Cooperation Foundation. The fund will also include 30 billion won for supporting establishment of venture companies and 20 billion won to help companies with d
Oct. 27, 2011
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KT tablet targets middle-aged
KT, the nation’s No. 1 telecom services provider, said Thursday that it will launch a new Samsung tablet PC specially designed for middle-aged users, housewives in particular, on Oct. 31. KT has developed the Smart Home Pad with Samsung Electronics and inked an exclusive deal to stock the new Galaxy Tab 8.9 for the next year. “People in their 40s and 50s may have had difficulty using smart devices,” said Seo Yu-yeol, president of home business at KT, in front of about 100 invited housewives. “Sm
Oct. 27, 2011
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GS Caltex finishes polymer plant in China
GS Caltex Co., South Korea’s second-largest refiner, said Thursday that it has completed a polymer compound plant in eastern China that will help the company further tap into the world’s second-largest economy.The plant, located in Suzhou, Jiangsu Province, has begun commercial operations with an annual output of 37,000 tons of polymer compounds, the company said. Polymer compounds are functional plastics widely used for making cars and home appliances.GS Caltex said that global manufacturing fi
Oct. 27, 2011
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Software development plan unveiled
The government announced Thursday that it will build the country’s first meister high school specializing in software and create a software bank as part of its efforts to boost the nation’s competitiveness in the software industry.In a meeting chaired by President Lee Myung-bak, the Ministry of Knowledge Economy unveiled its plan, divided into 11 policy tasks, to establish an ecosystem for the software industry.The announcement takes place after global players like Apple and Google Inc. have bee
Oct. 27, 2011
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Chinese Vice Premier Li meets LG, Kumho chairmen
China’s Vice Premier Li Keqiang met LG Group chairman Koo Bon-moo during Li’s visit to the flagship unit’s research and development campus in southern Seoul on Thursday.Becoming the only company on Li’s list during his two-day visit to Seoul, Li exchanged views with Koo on LG’s high-end IT products, such as the Cinema 3-D television which is among the products gaining popularity in China, according to LG officials.Li also viewed the research facilities for LG’s home appliances, including smart r
Oct. 27, 2011