Most Popular
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Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
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Korean industries gauge impact of Biden's steep tariffs on China
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Do Korean doctors make too much money?
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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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S. Korea to inject $70m into AI-powered public education
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Is FTC's conglomerate listing a boon or bane for Hybe?
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[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
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NewJeans to headline palace show
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Experts emphasize R&D for growth, integration
Academics and leaders in the industrial and public sectors around the world underscored Tuesday the significance of research and development in securing sustainable, mutual growth.Around 500 officials and experts in science and technology from more than 10 countries took part in the Global R&D Forum 2011 hosted by the Ministry of Knowledge Economy in Seoul. International scholars and experts atte
June 7, 2011
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Lunch with guru Buffett: $2 million and counting
Alert: if you want to have lunch with the Oracle of Omaha, it's going to cost you more than $2 million.The annual charity auction of a lunch with investment guru Warren Buffett got underway Monday, and just hours into the five-day bidding battle, the price was already at $2,000,111.The founder and wizard of investment house Berkshire Hathaway has put a meal with him on the auction block every year
June 7, 2011
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Three-way ties can create level playing field
A tripartite tie-up between multinational companies, conglomerates and small- and mid-sized firms is one way the Korean government can attempt to cope with the daunting task of leveling the corporate playfield, says the head of the Korean CEO’s Association of Multinational Corporations.“We may have the drive and means for helping these small- and mid-sized companies, but it can’t be done without a
June 6, 2011
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3-D LCD panel sales surge in first quarter
Sales of locally made three-dimensional liquid crystal displays surged 104 percent in the first quarter compared to the last three months of 2010, mainly fueled by a rise in global demand, an industry report showed Monday.According to the report by market research firm DisplaySearch, Korean-made 3-D LCD shipments reached 1.90 million units in the three-month period. It said the size of the market
June 6, 2011
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Volvo recalls trucks with faulty steering
Volvo Group Korea is recalling 49 FH and FM truck models due to a fault in the steering system, the Ministry of Land, Transport and Maritime Affairs announced Monday. According to the ministry, the bolt keeping the steering arm in place in FH 6X4, FH 6X2 and FM 6X2 trucks produced between Dec. 13 and Jan. 14 may come loose. The recall applies to 39 FH 6X2 trucks, and five each of FH 6X4 and FM 6X2
June 6, 2011
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Koreans still favor instant coffee fix
Although the country’s thriving coffee market has stoked demand for espresso and drip coffee in recent years, instant coffee remains Korea’s preferred drink, a recent survey showed. Last year, Koreans consumed 22.8 billion cups of coffee collectively, according to the survey by Nielson Korea and Dongsuh Foods Corp., the top local instant coffee maker. That translates as 452 cups for every Korean o
June 6, 2011
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POSCO to begin work on magnesium smelting plant
POSCO will begin work on its first magnesium smelting plant on Friday.The plant, to be located within an industrial complex in Gangneung, Gangwon Province, is scheduled for completion in June 2012. Once complete, the plant will be capable of producing 10,000 metric tons of magnesium ingots on an annual basis, reducing imports by an estimated 35 billion won ($32 million) each year.According to indu
June 6, 2011
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More firms plow money into solar energy
Samsung SDI, LG Chem, Hanwha participate in solar power projectsAn increasing number of firms are betting on solar energy projects as solar power is figured to be one of the fastest-rising new growth engines in the country.Large businesses, such as Samsung SDI, LG Chemical, Hanwha and SK subsidiary SKC, are gearing up to increase production to prepare for the rising demand for solar energy.Accordi
June 6, 2011
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Nexon, Bluehole Studio set up at L.A. game trade show
The Electronic Entertainment Expo 2011, the world’s largest game trade show participated in by local players Nexon and Bluehole Studio, will take place at the Los Angeles Convention Center from June 7-9.Nexon and Bluehole Studio will set up their own booths throughout the exhibition to make public their line-up of online games.Nexon, which took part in the show for the first time last year, will f
June 6, 2011
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China shops for Latin American oil, food, minerals
CARACAS, Venezuela (AP) ― Latin America is blessed with a wealth of natural resources such as oil, copper and soy, and seeks investment and loans to capitalize on them. China needs the commodities to keep its economy growing and has about $3 trillion in reserves to burn.Those interests have come together in a burgeoning and unorthodox partnership, as China lends and invests tens of billions of dol
June 6, 2011
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FBI partner attacked by hackers, passwords taken
People walk by Sony Building in Tokyo's Ginza shopping district in Tokyo. Another massive data breach at Sony has left hackers exulting, customers steaming and security experts questioning why basic fixes haven't been made to the company's stricken cybersecurity program. (AP-Yonhap News)LONDON (AP) _ Nearly 180 passwords belonging to members of an Atlanta-based FBI partner organization have been s
June 6, 2011
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Chrysler under control of Fiat
NEW YORK (AFP) ― Iconic American carmaker Chrysler has officially come under the Italian flag with Fiat announcing it had obtained a majority share after buying out the U.S. government’s stake.The takeover comes two years after Fiat took a 20 percent stake in exchange for sharing its technology and providing trusted leadership as Chrysler emerged from a government-backed bankruptcy.President Barac
June 5, 2011
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Greek workers in new protest against cuts
ATHENS (AFP) ― Hundreds of people from Greece’s two main private and public sector unions protested in central Athens Saturday to condemn the government’s new bailout deal with international lenders.Around 1,500 people marched to the capital’s main Syntagma Square, in front of the Greek parliament, with banners proclaiming: “No to the new memorandum” and “Resist!”Protesters from a communist-backed
June 5, 2011
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IMF frees up $225m for Iceland
WASHINGTON (AFP) ― The International Monetary Fund said Friday it had okayed a sixth tranche of $225 million in financing for Iceland, citing Reykjavik’s “impressive progress” in post-crisis restructuring.The IMF said Iceland’s economy would likely return to growth this year, but still faced risks from inflationary pressures, delays in investment projects, joblessness and slow private sector debt
June 5, 2011
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Kia pushes U.S. expansion as market-share gain leads industry
Kia Motors Corp., South Korea’s second-largest automaker, announced plans this week to raise output at its Georgia plant by 20 percent, underscoring the U.S. industry’s biggest market-share gain this year.Kia, an affiliate of Hyundai Motor Co., raised its U.S. share 0.8 percentage point to 3.8 percent through May, topping gains of 0.7 point for General Motors Co. and 0.6 point for Hyundai, accordi
June 4, 2011
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Kumho Petrochem chief grilled in slush fund case
Kumho Petrochemical Chairman Park Chan-koo was on Friday summoned by prosecutors over allegations that he created slush funds and gained illegal profit on the back of exclusive, internal information.The prosecution believes the slush funds may amount to up to 30 billion won ($27.7 million).Park, however, denied any wrongdoing, saying he would “clear everything” during the questioning session. Park
June 3, 2011
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Cabinet submits corrected U.S. FTA bill to parliament
The government approved an updated ratification bill for the Korea-U.S. free trade agreement after fixing translation errors and submitted it to the National Assembly to seek parliamentary approval.The agreement had been retracted in April over multiple translation errors in the Korean version. Prime Minister Kim Hwang-sik urged the early parliamentary approval of the deal.“The KORUS FTA is an ine
June 3, 2011
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Samsung's new Galaxy Tab to go on sale in U.S. next week
Samsung Electronics Co., the world's second-largest mobile phone maker, said Thursday that its new Galaxy Tab tablet computer will hit U.S. shelves next week, mounting a challenge on Apple Inc.'s iPad 2.The wireless-fidelity (Wi-Fi) version of the Galaxy Tab 10.1 will be launched on June 8 through the U.S. retailer Best Buy Co., Samsung said in a statement.The upcoming Android-based tablet, which
June 2, 2011
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CJ Group to bid for Japan’s Hayashibara
CJ Group, the country’s largest food company, is bidding to take over Japan’s biggest food-additive maker, Hayashibara, reportedly in consortium with Japanese private equity firm Unison Capital.CJ confirmed the bidding scheduled for July but declined to comment on its consortium with Unison capital.Acquiring Hayashibara is part of CJ Group’s plan to expand into amino acids and other biochemical fo
June 2, 2011
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Volvo recalls 192 cars for faulty fuel, steering systems
The Ministry of Land, Transport and Maritime Affairs announced Thursday that Volvo Cars Korea is recalling the S60 and XC90.The recall applies to 182 S60 vehicles produced between June 22, 2010 and May 18, 2011 that have faulty fuel pump controlling software that could cause the engine to be switched off while driving.Further six S60 vehicles produced between Jan. 20, 2010 and Jan. 28, 2011 found
June 2, 2011