Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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Hopes rise for possible Gaza truce deal
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Insurance funds score low on sovereign trust evaluation
Korea’s state-run funds that manage employment insurance, workers’ safety insurance, agriculture assets, and arts and culture businesses scored “low” in the government’s evaluation of sovereign management trusts, the Ministry of Strategy and Finance said Tuesday.In a report of over 140 funds to Cabinet members, the Finance Ministry said they performed below average in part due to a lack of professional human resources that can manage those funds worth some 14 trillion won ($12.4 billion).Meanwhi
May 28, 2013
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The right way to fail
The general perception about failure is that it is bad ― and rightly so. Failure incites negative feelings such as desperation, anxiety and a lack of self-confidence. People who do not cope well with failure tend to become risk averse, avoiding challenges and accepting only tasks that are easy to complete. Companies that operate in this manner can consistently achieve their goals in the short run, but will be overtaken by rivals in the long run because they fail to innovate. Innovative global co
May 28, 2013
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Hyundai Elevator vs. Schindler, round 2
The second round of legal battles between Hyundai Elevator, the nation’s leading elevator manufacturer, and Schindler Group, its No. 2 shareholder, is set to begin following Schindler’s appeal on a local court’s ruling that rejected its request to stop a planned capital increase in June. The rationale behind the Germany and Switzerland-based elevator and escalator maker is that the 110.9 billion-won worth of capital increase would lead to an up to 25 percent discount of stock value. Schindler al
IndustryMay 28, 2013
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Foreigner-only casinos thrive on Chinese influx
The nation’s 16 casinos exclusive to non-Koreans are enjoying a business boom, marking record-high sales reaching 1.3 trillion won ($1.2 billion) last year, according to the National Gambling Control Commission. Behind the growth of the casino business is the increased inflow of Chinese visitors. According to the Ministry of Culture, Sports and Tourism on Monday, the number of Chinese gamblers visiting Korean casinos surpassed that of Japanese high-rollers for the first time last year, making up
May 28, 2013
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Korean Air’s Cho sparks ‘maternity trip’ controversy
Cho Hyun-ah, Korean Air’s senior vice president, recently delivered twins in the United States, sparking speculation that her travel to Hawaii could have been intended to obtain U.S. citizenship for the children. Cho, the eldest daughter of Hanjin Group chairman Cho Yang-ho, has been in Hawaii since early last month and delivered twin sons last week. The company explained that Cho had already been transferred to the U.S. as of March 20 to oversee hotel projects that the air carrier’s U.S. branch
IndustryMay 28, 2013
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N. Korean carrier among worst airlines: report
An Australian news website announced a list of the worst airlines in the world for economy class, which included North Korea’s state-run airliner Koryo.According to a list of the “20 Worst Airlines in The World” by Business Insider Australia, Air Koryo provides the fifth-worst economy-class traveling in the world. The website used data ratings and reviews by Skytrax, a leading airline and airport review site.Receiving a score of 39.2 of 100, the world’s only one-star airliner Koryo offers “revol
IndustryMay 28, 2013
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Seoul shares edge up 0.32 pct on waned fears over yen's slide
South Korean stocks inched up 0.32 percent Tuesday, as concerns over the negative impact of the Japanese yen's fast descent on local exporters eased, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.25 points to finish at 1,986.22. Trading volume was light at 297.4 million shares worth 3.17 trillion won (US$2.82 billion) with gainers far outstripping losers 514 to 301. "It's a tight session as there are no vents thi
May 28, 2013
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“League of Legends” popularity dips over server glitches
“League of Legends,” the undisputed king in South Korea’s gaming industry, was dealt a major blow after a series of server problems in the past few days.According to game data provider Gametrics, the “League of Legends” Internet cafe share was 21.3 percent last week, a 15 percent drop from the week before.The game, however, retained a comfortable lead over its rivals. Runner-up “Sudden Attack,” for instance, had a 10 percent share.The Internet cafe share refers to the percentage of a certain gam
TechnologyMay 28, 2013
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Seoul shares up 0.3 pct in late-morning trade
South Korean stocks traded 0.3 percent higher late Tuesday morning, buoyed by gains in builders and IT services companies, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6 points to 1,985.97 as of 11:20 a.m. Daelim Industrial, a leading construction firm, climbed 2.6 percent and NHN Corp., the No. 1 Internet portal service provider, gained 1.6 percent. In contrast, utilities and brokerages lost ground. State-run Korea Electric Power Corp. sank more than 2 percent
May 28, 2013
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‘Samsung may showcase new Galaxy, ATIV devices in June’
Samsung Electronics Co. said Monday that it would hold an event called “Samsung Premiere 2013 Galaxy & ATIV” next month in London, prompting speculation that the tech heavyweight may introduce new products for its Galaxy and ATIV lines.The South Korea-based firm did not reveal the specifics in the invitation but tech journalists are suspecting that the name of the event indicates new gadgets for the Android-based Galaxy line and Windows-based ATIV line will be headlining the event.As Samsung ann
TechnologyMay 28, 2013
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Commission halts operation of two nuclear reactors due to fake parts
The nuclear safety commission halted the operation of two nuclear reactors Tuesday, while also suspending the scheduled operation of two other reactors for substandard parts used in the reactors.Neither the shutdown of the reactors nor the substandard parts used in them posed immediate threats to public safety, according to the Nuclear Safety and Security Commission.The commission said it has shut down two reactors -- the Shin Kori Reactor 2 and Shin Wolsong Reactor 1 -- after learning that subs
TechnologyMay 28, 2013
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8 firms get poor shared growth marks
Eight large companies including Homeplus, CJ O Shopping and STX Heavy Industries have received failing marks in promoting shared growth with smaller partner firms.The National Commission for Corporate Partnership, which grades large businesses based on their efforts to seek coprosperity with small firms, announced on Monday the scores for 73 companies belonging to the country’s major conglomerates. Kolon Global, Hyundai Homeshopping, Hyundai Department Store, KCC and LSIS also failed in the annu
IndustryMay 28, 2013
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Seoul shares open higher on waning yen fear
South Korean stocks opened higher Tuesday, as a slowdown in the yen's depreciation encouraged investors to make risky bets, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.25 points, or 0.27 percent to 1,985.22 in the first 15 minutes of trading. Large-cap chemical makers and heavy industries led the gain, with LG Chem climbing 1.4 percent and Hyundai Heavy Industries, the world's largest shipyard, moving up 0.3 percent.The Japanese currency slowed its fast-descend
May 28, 2013
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Samsung world's No. 1 smartphone seller in Q1: data
Samsung Electronics Co. regained its status as the world's largest smartphone seller in the first quarter of the year, dethroning Apple Inc. in terms of revenue, data showed on Tuesday.Samsung sold smartphones worth US$23.62 billion in the January-March period, regaining the top spot lost to the iPhone maker in the fourth quarter of last year, according to the data by market researcher Strategy Analytics.The first-quarter figure is up $952 million from the previous quarter's reading, they showed
TechnologyMay 28, 2013
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FSS to facilitate opening of foreign financial branches
Korea’s top financial supervisor has pledged to reduce inconveniences experienced by foreign financial services firms operating in the country.“We plan to simplify business licensing procedures, which would shorten the period between foreign firms’ application for opening branches and regulators’ endorsement,” said Financial Supervisory Service Gov. Choi Soo-hyun during an interview with The Korea Herald last week. He took office in March as the first FSS governor under the Park Geun-hye adminis
May 27, 2013
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[Graphic News] SNU tops energy use in Seoul
Seoul National University was the most energy-hungry building in Seoul, a report showed Sunday.From 2011 to 2012, the university devoured 4,403 tons of oil equivalent, surpassing major hospitals, department stores, hotels and office buildings, the Seoul Metropolitan Government said.According to the officials, frequent use of experimental apparatus in laboratories and high energy loss typical of old buildings mainly contributed to the high energy use. The officials also assume the 22 percent elec
May 27, 2013
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[Photo News] Protection from toxic materials
IndustryMay 27, 2013
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K-sure, Eximbank to finance U.S. LNG project
The state-run Korea Trade Insurance Corp., known as K-sure, and Korea Export-Import Bank will offer $1.5 billion in loans to the “Sabine Pass” liquefied natural gas project in the U.S., K-sure said on Monday.The LNG project refers to the LNG-related facility expansion project at Sabine Pass in the state of Louisiana, which will allow the U.S. to export LNG for the first time in its history. The U.S. government has stepped up lifting a ban on LNG exports in line with the rising supply of natural
May 27, 2013
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Hyundai-Kia recall based on data, not politics: NHTSA
The recent recall decision on 1.7 million Hyundai and Kia cars in the United States was based on data, not politics, the chief of the U.S. National Highway Traffic Safety Administration told The Korea Herald on Monday.“Our agency is based on data. We don’t care if it’s a company in Detroit or Korea. Our job is safety on the U.S. road,” said David L. Strickland, administrator at the U.S. traffic safety agency. He was visiting Seoul to attend the International Technical Conference on the enhanced
IndustryMay 27, 2013
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FTC probing No. 2 Internet portal operator Daum
SEJONG (Yonhap News) ― South Korea’s antitrust watchdog has launched an investigation into Daum Communications Corp. on suspicion that it might have been using its market power to force suppliers to accept unfair business deals, sources said Monday.Earlier in the day, the Fair Trade Commission sent a team of investigators to the headquarters of Daum, the country’s second-largest portal operator, to obtain necessary data and documents, according to the sources.The probe will likely focus on wheth
IndustryMay 27, 2013