Most Popular
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Yoon rebuffs opposition's call for special probe into wife
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Ador CEO's dismissal to be decided on last day of May
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[Graphic News] Beer the most favored alcoholic drink by Koreans
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Science Ministry expresses regret over Japan’s pressure on Naver
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Haeundae Beach to become sand art museum in late May
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Suzy, Park Bo-gum star in AI fantasy romance ‘Wonderland’
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Medical professors set to take day off amid protracted walkouts by junior doctors
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Hostilities get out of hand as YouTuber murders another outside courthouse
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Dog goes on incredible journey to make it back home, 41 days after going missing
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BASF to invest $3.1 billion in Asia by 2015
BASF chief executive Jurgen Hambrecht speaks during the firm’s yearly press conference in Ludwigshafen, Germany on Thursday.(BASF)LUDWIGSHAFEN, Germany ― Leading global chemical firm BASF plans to expand its presence in Asia by investing 2.3 billion euros ($3.1 billion) over the next five years, company officials said Thursday.The Germany-based firm’s aggressive investment plan comes as the Asia-P
Feb. 25, 2011
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Samsung Group breaks into biomedical sector
South Korea's top conglomerate Samsung Group said Friday that it will establish a biomedical joint venture with U.S. drugmaker Quintiles Transnational Corp. as part of its efforts to find new growth engines. The joint venture will be capitalized at 300 billion won (US$265.5 million) and be established sometime in the first half of this year, Samsung said, adding work will begin on a plant in Inche
Feb. 25, 2011
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Samsung establishes first social enterprise
Samsung Group established its first social enterprise in downtown Seoul on Thursday.The enterprise called the “Hope Network” will hire about 70 teachers and offer education services to about 1,000 children from underprivileged families, company officials said.It will start with the children registered in 30 different study rooms in the regions of Seoul and Gyeonggi Province.The instructors, who ha
Feb. 24, 2011
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SKT to release iPhone 4
SK Telecom, Korea’s top mobile operator, will start selling the iPhone next month in a break from Apple’s practice of selling the smartphones via a single distributor in each major market, industry source said Thursday.“Negotiations between SK Telecom and Apple are in the final stage,” said the source who is familiar with the matter. “As the negotiations are going smoothly, it is virtually decided
Feb. 24, 2011
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BMW to set up social contribution fund
BMW Group Korea announced Thursday that it will set up BMW Korea Future Fund, the first social contribution foundation operated by a foreign carmaker in South Korea.The foundation will be established by BMW Group Korea and the seven official dealers later in the year with an initial investment of 3 billion won ($2.7 million), 2 billion won of which will be raised by the dealers and BMW Group Korea
Feb. 24, 2011
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Renault Samsung most efficient sales staff
Renault Samsung Motors Co.’s sales staff recorded the highest average monthly sales figure among local carmakers, the company announced Thursday.According to the company, the 2,342 sales staff working at its 195 sales agents sold 155,696 last year, putting the average monthly sales figure per person at 5.4. The figure per sales agent came in at 65 units per month. The company did not disclose figu
Feb. 24, 2011
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Big banks must be broken up: Hoenig
Federal Reserve Bank of Kansas City President Thomas Hoenig said U.S. regulators should avert another crisis by breaking up large financial institutions that pose a threat “to our capitalistic system.”“I am convinced that the existence of too-big-to-fail financial institutions poses the greatest risk to the U.S. economy,” Hoenig said Wednesday in a speech in Washington. “They must be broken up. We
Feb. 24, 2011
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Foreigners' land ownership in S. Korea grows in 2010
Foreign ownership of South Korea's land rose slightly last year, but its growth rate remained relatively slow compared with levels tallied before the financial crisis, a government report showed Thursday. Foreigners owned a total of 223.72 million square meters of land in the country at the end of last year, up 2.4 percent from a year earlier, according to the report by the land and transport
Feb. 24, 2011
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SK Telecom to release Apple's iPhone 4 next month in S. Korea
South Korea's top mobile carrier SK Telecom Co. will release Apple Inc.'s iPhone 4 in the local market next month, ending the exclusive distribution by its rival wireless operator, an industry source said Thursday. SK Telecom Co. will release Apple Inc.'s iPhone 4 (Bloomberg)"Negotiations between SK Telecom and Apple are in the final stage," said the source who is familiar with the matter. "As th
Feb. 24, 2011
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BP deal to boost India’s energy output: analysts
MUMBA (AFP) ― BP’s multi-billion-dollar tie-up with Reliance will accelerate fuel-hungry India’s exploration for energy and hand the Indian giant the skills to develop hard-to-exploit reserves, analysts say.The British energy group on Monday agreed to pay $7.2 billion for a 30-percent stake in Reliance’s 23 largely unexplored deepwater oil and gas fields off the coast of India, which cover an area equivalent to the North Sea.The tie-up with embattled BP, which this month reported its first annua
Feb. 23, 2011
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Russia may extend grain export ban
Deputy P.M. says export ban could be extended after July 1MOSCOW (AFP) ― Russia on Tuesday said it may extend a ban on grain exports that has been blamed for triggering global food price rises beyond its provisional expiry date of July 1.The Russian government’s pointman on agriculture emerged from a closed-door cabinet meeting chaired by Prime Minister Vladimir Putin to announce that such an opti
Feb. 23, 2011
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Samsung makes breakthrough in color display technology
Samsung Electronics said on Wednesday that it has developed the world’s first full-color quantum dot display, paving the way for the next-generation products that are cheaper but more vivid and energy-efficient.Quantum dots are semiconductor nanocrystals that become luminous in reaction to current or light. They have emerged as a next-generation photonic method due to its finer color expressions a
Feb. 23, 2011
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KT to support mobile app developers
KT Corp., the country’s biggest wireless Internet zone operator, announced Wednesday that it plans to launch a project to help mobile application developers sell their products overseas.The “global frontier project” is a measure for the telecom giant to establish mutual growth with smaller venture firms. It supports talented mobile application developers from the development stage to when items ar
Feb. 23, 2011
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Index to gauge treatment of suppliers
Government and private-sector representatives will introduce a new index to gauge large companies’ relationship with smaller suppliers as part of its efforts to promote broad-based growth, officials said Wednesday.The shared growth index will be announced once annually, starting with 56 companies including Hyundai Motor Co., POSCO and Samsung Electronics next year, the Commission on Shared Growth
Feb. 23, 2011
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Lotte Mart bargain TVs are a sell-out success
Lotte Mart’s ultra-cheap television has proved to be a hot item, with some of its branches selling out within hours of opening Wednesday.Lotte Mart officials said it began selling the 24-inch TVs, which cost less than 300,000 won ($268), at 89 of its branches across the nation from 9-10 a.m. Ultra-cheap 24-inch televisions on display at a Lotte Mart branch in Seoul (Yonhap News)Some customers queu
Feb. 23, 2011
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AD Motors to build electric car plant in Yeonggwang
AD Motors, a Seoul-based electric car maker, announced Wednesday that it will build a mass production facility in Yeonggwang Country in South Jeolla Province. Once complete, the facility will be capable of producing 43,000 electric vehicles on an annual basis.The company signed an agreement for the project with the governments of Yeonggwang county and South Jeolla Province on Tuesday. It will inje
Feb. 23, 2011
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Australian Chamber gets new chief
The Australian Chamber of Commerce in Korea has elected Jim Lim, regional manager of Meat & Livestock Australia, as the new chairman for its executive committee this year. Lim will replace Sean Rodrigues, who has held the post for the last three years. Jim Lim“I am honored to have been elected chairman and intend to work closely with all our stakeholders to continue the growth and development of
Feb. 23, 2011
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Kia names new domestic sales chief
Kia Motors Corp. named Lee Sam-ung as its new president for domestic sales and production on Wednesday.He had been serving as a vice president at the country’s second largest carmaker. Lee Sam-ungThe company said that Lee is a labor expert, and that he is expected to make significant contributions to developing the company into a global player by improving its labor management system, thereby esta
Feb. 23, 2011
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Global economy can survive oil price surge, for now: IMF
The world economy can withstand the surge in oil prices sparked by unrest in the Middle East and North Africa so long as the increase proves short-lived, said the International Monetary Fund’s No. 2 official, echoing Deutsche Bank AG and Bank of America Merrill Lynch. Futures for April delivery climbed to within $2 of $100 a barrel in New York Tuesday, and London-traded Brent rose to $108.57, clos
Feb. 23, 2011
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Ssangyong launches first new vehicle in three years
JEJU ― Ssangyong Motors Co. launched the compact sport utility vehicle Korando C, its first new vehicle in three years, on the local market Tuesday.Since the company launched the luxury sedan Chairman W in February 2008, Ssangyong has run into a series of critical problems that at points pushed the company to the brink of collapse delaying plans for the new vehicle.In February 2009 Ssangyong enter
Feb. 23, 2011