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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In Beijing, S. Korean top diplomat aims to jumpstart ties with China
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[Grace Kao] American racism against Stray Kids
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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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NewJeans' members' parents complained to Hybe, email shows
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[Graphic News] Over 80% of people filing bankruptcy in Seoul in their 50s and older
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Thai flood impact on air travel limited
Thailand’s flood crisis deepened this week as floodwaters advanced into Bangkok, forcing authorities to shut down the capital city’s second-largest airport, but its impact on Korean travelers will likely remain limited, airline officials said Thursday.Major Korean carriers have not seen delays or cancellations of flights due to floods and have not experienced noticeable drops in occupancy rates, officials said, although they have been closely following the Southeast Asian country’s worst natural
Oct. 27, 2011
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Writer Isaacson on Steve Jobs: 'I just listened'
NEW YORK (AP) — Steve Jobs told Walter Isaacson he wanted him to write his biography because he's good at getting people to talk. Jobs, it turns out, didn't need much prodding, secretive as he was about both his private life and the company he founded."I just listened," said Isaacson, whose bo
Oct. 27, 2011
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Samsung donates mobile classroom to S. Africa
Samsung Electronics donated the first solar-powered internet school for use in South Africa on Tuesday.The equipment was handed over to the Nelson Mandela Foundation in Boksburg, located in the northeastern region of the country. The solar-powered Internet school is a mobile classroom created from a shipping container. The classroom can hold up to 21 students at a time, and is features include a 50-inch electronic blackboard, solar-powered laptop computers with wireless internet connection and
Oct. 26, 2011
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Korean firms brace for economic uncertainties
Companies cut costs, postpone investment to secure liquid capitalAs uncertainties over next year’s economic outlook increase, fueled by fluctuating exchange rates and Europe’s financial instability, domestic firms are tightening their purse strings.The executives of the country’s largest shipping firm Hanjin Shipping Co. recently decided to return 10 percent of their annual salaries this year, while Korean Air is taking applications for voluntary redundancy in an effort to cut costs.The country’
Oct. 26, 2011
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Samsung, Ambarella expand partnership in digital camera chips
Samsung Electronics Co. said Wednesday that it began to supply digital camera chips for Ambarella Inc., an image-processing semiconductor company in the U.S., further expanding their cooperation in the foundry business.Samsung’s foundry team started manufacturing Ambarella’s 32-nanometer System on Chips and A7L for high-definition digital cameras, Samsung said in a statement.The company’s foundry business, which fabricates chip designs of other companies that do not have a semiconductor fabricat
Oct. 26, 2011
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SKT to become sole bidder for chipmaker Hynix
Telecom giant may gain upper hand in price negotiations with Hynix creditorsSK Telecom is expected to become the sole bidder for the world’s second biggest computer memory chipmaker Hynix although the bidding process was seemingly deferred twice to trigger competition.According to industry sources, lead manager Credit Suisse has delivered statements on how to take part in Hynix bidding to about 12 large firms, but none of them have yet responded.The outlook for increased competition looks grim s
Oct. 26, 2011
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Gmarket opens virtual fashion store
Gmarket, the nation’s No. 1 online marketplace owned by eBay, opened Wednesday a virtual fashion store at a subway station in central Seoul. Gmarket said it will display fall and winter fashion items via the eight screen doors at Myeongdong Subway Station through Nov. 14.Customers can purchase the products by scanning the Quick Response Code, or QR Code, on the photographs, the company explained. Gmarket said customers can check the complete look of specific items and share reviews of other user
Oct. 26, 2011
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Telecoms to ban wireless access to foreign porn sites
The government and telecom companies have agreed to ban access to foreign pornography via wireless devices such as tablet PCs and smartphones from as early as November, communications authorities said.According to the Korea Communications Commission, the nation’s top three telecom services providers ― KT, SK Telecom and LG Uplus ― are pushing to revise their policy terms to block access to obscene content.“We are preparing a revised policy that contains the measures to block lewd materials. Afte
Oct. 26, 2011
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LG Electronics swings back into the red
LG Electronics posted operating losses of 32 billion won ($29.57 million) in the third quarter, swinging into the red for the first time this year.In its quarterly earnings report, the company said it recorded 12.9 trillion won in sales, a 4 percent decrease from the same period last year, largely due to its sluggish sales of mobile phones.The company posted operating losses of 185.2 billion won and 245.7 billion won in the third and fourth quarters of last year, respectively, but managed to get
Oct. 26, 2011
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KT to deliver K-pop content via Ustream
KT, the nation’s major telecom services provider, said Wednesday that it has agreed with U.S.-based live video streaming site Ustream to set up a joint venture to spread K-pop content around the world. The tentatively named “Ustream Korea” will support the distribution of Korea’s diverse cultural contents into the global market and offer business opportunities for smaller producers, KT said.KT said that the joint company will be established within the year and start providing Korean services via
Oct. 26, 2011
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LG Electronics swings to Q3 loss on smartphone woes
SEOUL, Oct. 26 (Yonhap) -- LG Electronics Inc., the world's third-largest mobile phone maker, said Wednesday that it swung to a net loss in the third quarter of this year due to its struggling smartphone business.Net loss amounted to 413.9 billion won (US$366.7 million) in the July-September period,
Oct. 26, 2011
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IBM names its first female CEO
SAN FRANCISCO (AP) — IBM Corp. ushered in Virginia Rometty as the company's first-ever female CEO on Tuesday, as Sam Palmisano stepped down from the position.Palmisano, who turned 60 this year, has been CEO for nearly a decade. He will stay on as chairman. Virginia "Ginni" Rometty, 54, is in c
Oct. 26, 2011
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Samsung, LG showcase new products in Iraq show
Two local electronics giants said Tuesday they are taking part in the four-day trade show in Iraq until Thursday to display their cutting-edge technologies in the Middle East.Samsung Electronics and LG Electronics said they have set up booths at the Erbil International Fair, which is the largest trade show in Iraq, participated by about 850 global firms. Their lineup of smartphones, 3D televisions and home appliances will be displayed throughout the show, according to companies’ officials. With
Oct. 25, 2011
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Department stores charge small vendors double
The Fair Trade Commission said Tuesday that smaller vendors pay almost 32 percent of their profits as commission fees for using the floor space of three major department stores. The antitrust regulator over the past two weeks surveyed 73 small- and medium-sized companies that supply products to Lotte, Shinsegae and Hyundai department stores. Shirt and tie vendors were found to have paid the highest rate of 37 percent, followed by those selling children’s clothes with 36.7 percent, men’s clothes
Oct. 25, 2011
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AmorePacific eyes gain in China market share
HONG KONG (Yonhap News) ― AmorePacific Corp., South Korea’s No. 1 cosmetics manufacturer, will likely see its share of the Chinese market rise this year from a year ago, company officials said Tuesday. The market share is expected to rise to 2 percent in 2011 from 1.6 percent last year, the officials said, adding that the 0.4 percentage point rise in a year is quite an advancement for a cosmetics firm in China.They attributed the rise to growing confidence among the Chinese consumers in South Ko
Oct. 25, 2011
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World Ocean Forum opens in Busan
The fifth World Ocean Forum kicks off in Busan on Wednesday.The three-day forum will focus on the spread of “smart” technologies and the changes these developments have had on marine industries. The event, organized by the Ministry of Land, Transport and Maritime Affairs, Busan city government and the Korea Association of Marine Industry, will bring together 3,000 academics, business people and marine industry experts from across the world. The forum will be divided into five sessions ― smart sh
Oct. 25, 2011
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E-Mart launches ultra-cheap LED TV
Retail giant threatens Samsung and LG with half-priced setsE-Mart will launch an ultra-cheap TV set on Thursday in a bold move to enter the electronics market that has long been dominated by Samsung and LG. E-Mart said its Dream View is a 32-inch full HD LED TV priced at 499,000 won ($443), up to 42 percent cheaper than those with similar specifications produced by local electronics giants.Even when compared to Chinese brands, the price is about 28 percent cheaper, the company said. “We have red
Oct. 25, 2011
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LG likely to ink patent agreement with Microsoft next month
Vice chairman Koo may meet Microsoft counterpart at APEC CEO SummitLG Electronics will likely ink an agreement on patent loyalties with U.S. software giant Microsoft as early as next month, industry sources said Tuesday.The move is expected to further burden the Korean firm which is currently suffering from a sparse smartphone line-up. It could incur losses that amount to millions of dollars as the source noted that the firm is most likely to offer $3 per every Android device to Microsoft. A big
Oct. 25, 2011
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Oil prices expected to slip 8 percent next year: report
SEOUL, Oct. 25 (Yonhap) -- International crude oil prices are expected to fall up to 8 percent in 2012 from this year's levels as demand for oil products decline in line with the global economic slump, a report showed Tuesday.The price of Dubai crude, South Korea's benchmark, would trade at a range
Oct. 25, 2011
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63 Building to undergo major renovation
The 63 City Building, the nation’s second-tallest building, will undergo a five-year renovation including the replacement of its 13,400 gold-tinted windows, industry sources said Monday. The 249-meter-high skyscraper in Yeouido, Seoul’s financial district, is currently home to more than 10,000 employees of Korea Life Insurance and other companies. The landmark building also houses a number of foreign companies operating in Korea.The large-scale renovation, including the remodeling of vacant offi
Oct. 24, 2011