Most Popular
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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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[Music in drama] Rekindle a love that slipped through your fingers
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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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Seoul Metro to seek legal action against malicious complaints
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Illit, mired in controversy, remains on Billboard charts for 5th week
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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Korea to spend 342.5 trillion won in 2013
Next year’s budget aims to support public welfare and revitalize economyThe government plans to spend 342.5 trillion won ($305.6 billion) in 2013, an increase of 5.3 percent compared to the previous year, with the aim of boosting the sagging economy while maintaining fiscal health.The Finance Ministry announced on Tuesday the final budget proposal to be presented to the National Assembly for approval.According to the budget plan, the government will designate 10.8 trillion won to create about 60
Sept. 25, 2012
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Bosch to invest W200b in Korea
Bosch Group will spend 200 billion won ($178.7 million) on facility expansion in South Korea by next year and hire 300 workers, the head of the German auto part manufacturer’s local unit said Tuesday.Hermann Kaesse, president of Robert Bosch Korea Ltd., told reporters that the planned spending is based on the belief that the South Korean car industry will further develop.Bosch Group has Korean units such as Robert Bosch Korea, Bosch Electrical Drives Co., Bosch Rexroth Korea Ltd., and ETAS Korea
IndustrySept. 25, 2012
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Shares fall on foreign selloff
South Korean stocks closed 0.6 percent lower Tuesday as foreigners snapped a 12-day buying streak to opt for profit-taking, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index slid 12.03 points to finish at 1,991.41. Trading volume was moderate at 523.9 million shares worth 4.55 trillion won ($4.06 billion) with decliners outpacing advancers 570 to 257. “Foreigners chose to take profits, but the amount is not big, meaning that they are
Sept. 25, 2012
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Hyundai Motor sells $1b in global bonds
South Korea’s top automaker Hyundai Motor Co. said Tuesday its U.S. financial unit has raised a combined $1 billion by selling dollar-denominated bonds in New York in a bid to secure funds for marketing promotions.Hyundai Capital America issued two kinds of $500 million bonds denominated in dollars due in either three or five years, Hyundai Motor said in a statement.The three-year bond has a coupon rate of 1.625 percent, 1.3 percentage points above U.S. treasury bond yields, while the five-year
IndustrySept. 25, 2012
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Korean Air to resume direct flights to Saudi Arabia
South Korea’s top air carrier Korean Air Lines Co. said Tuesday that it will resume direct flight services to Saudi Arabia in November after a 15-year break.Korean Air said it will offer three weekly flights to the Saudi capital of Riyadh and the country’s largest port city of Jeddah starting from Nov. 9 with the 218-seat A330-200 passenger jet.The flag carrier operated direct flight services to Saudi Arabia from 1977 to 1997.The planned resumption of direct flights to Saudi Arabia is designed t
IndustrySept. 25, 2012
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Hyundai to supply hydrogen Tucson ix to Copenhagen
Hyundai Motor said Tuesday that it will provide its hydrogen fuel cell electric car Tucson ix to the city of Copenhagen next year with the aim of joining Denmark’s initiative for environmentally friendly transportation. Fifteen Tucson ix sport utility vehicles will be leased for official use by the Danish city government in the first half of next year, following a memorandum of understanding for a pilot program that was signed in May last year. While Hyundai has recently joined hands with Europe
IndustrySept. 25, 2012
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Consumer sentiment stays below par for 2nd month
South Korean consumers’ confidence stayed below par for the second straight month in September as the protracted eurozone debt crisis heightened economic uncertainties, the central bank said Tuesday.The consumer sentiment index ― a gauge of consumers’ overall economic outlook, living conditions and future spending ― came in at 99 for September, unchanged from the previous month, according to a survey by the Bank of Korea.The September figure marked the lowest level since the index hit 98 in Janu
Sept. 25, 2012
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Politics-driven stocks fluctuate ahead of presidential election
Volatility marked the politics-driven stocks listed on the stock exchanges of South Korea where election season has rolled around.Investors who bet on these so-called “political” stocks lost 1.55 trillion won ($1.3 billion) between June 11 last year and May 31 this year, according to the Financial Supervisory Service. The FSS had recently conducted a survey on some 35 stocks that appeared to be moving in tandem to the current political climate or the three central figures running in the presiden
Sept. 25, 2012
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2013 budget allocates more for welfare, small businesses
Government promises over 100,000 jobs for youth, greater budget to fight sex crimes and school violenceThe government’s 2013 budget plan appears to focus on support for more welfare programs to stabilize the livelihood of ordinary people, while maintaining a budget balance. The budget plan includes expanded support for small and mid-sized companies from 69.5 trillion won this year to 78 trillion won, and an additional 10 billion won for companies that open branches overseas. The government plans
Sept. 25, 2012
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Samsung SDS offers glimpse of 2013 IT mega trends
List includes big data, cloud services and IT consolidationSamsung SDS, the country’s IT services provider, announced its selection of IT mega trends for next year, in order to help different industries prepare for the future.While categorizing the 2013 mega trends into four categories ― new values, new threats, new creativities and new growth ― the company said the nine elements of next year’s trends are valuable big data, progress in cloud services, IT consolidation, advanced cyber attacks and
IndustrySept. 25, 2012
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Newest expansion for ‘World of Warcraft’ unveiled
Blizzard Entertainment on Tuesday showcased its latest edition “World of Warcraft: Mists of Pandaria” at a press conference held in Seoul. Launched three years after its predecessor “World of Warcraft: Cataclysm,” "Mists of Pandaria" premiered in Korea as Blizzard’s the fourth expansion set. The game company will give the public a chance to try out the new "Mists of Pandaria" for free starting on Thursday. "Mists of Pandaria" will begin nationwide charged service on Oct. 1. The new game involves
IndustrySept. 25, 2012
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Hyundai Capital taps China’s auto financing market
Hyundai Motor Group announced Tuesday that its automobile financing subsidiary has successfully made inroads into the Chinese market through a joint venture.“Hyundai Capital Services launched Hyundai Capital China, a joint venture firm in collaboration with Beijing Automotive Industry Group Investment,” the automotive group said in a statement.It said the joint entity, headquartered in Beijing, will provide Chinese consumers with auto financing for Hyundai and Kia vehicles.The group’s initial in
IndustrySept. 25, 2012
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Asia drives global shopping center revival
Asia and Latin America’s economic growth has fueled an upturn in retail activity, with increasing rent reflecting high demand for the limited amount of prime retail opportunities in both regions.Changes in consumer preferences, spending patterns and technological advances have impacted owners and retailers in all regions. Owners of prime shopping centers throughout the world are constantly repositioning their properties to provide consumers with their desired full shopping “experience.” With the
Sept. 25, 2012
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Solvay looks to Korea future with R&D center
Belgian CEO speaks on business, new entity to replace EUCCKAndre Nothomb has two official work titles: one is chief executive of Solvay Korea Co. and the other is finance officer of Solvay Special Chemicals global business unit.He earned the latter title as the Belgian chemical company with a history of 149 years chose Seoul as the headquarters for its special chemicals business last year.A Solvay research and development center is under construction within the Ewha Womans University campus in S
IndustrySept. 25, 2012
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Minors to be banned from revealing too much on air
Minors will soon be subject to costume regulations when they go on air, said the Korea Communications Standards Commission Tuesday.The commission stated on its website that it will push for a new rule to regulate revealing clothing for teen and child performers in order to control exposure.“Broadcasters must pay attention to and refrain from excessively exposing female minors during program recordings. Overly suggestive screen shots of girl groups composed of a large number of minors must also b
Sept. 25, 2012
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Did rock-swapping bring life to Earth?
(123rf)Microorganisms embedded in fragments of distant planets that crashed to Earth might have been seeds of life on our planet, U.S. and European researchers say.Scientists from Princeton University, the University of Arizona and the Centro de Astrobiologia in Spain, writing in the journal Astrobiology, said there is a possibility that life came to Earth -- or spread from Earth to other planets
TechnologySept. 25, 2012
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History of Earth‘s oxygen studied
SEATTLE (UPI) -- Microbial life may have migrated from Earth’s oceans to land by 2.75 billion years ago, producing oxygen earlier than previously thought, U.S. scientists say.Research reported from the University of Washington suggests the land-based microbes were producing oxygen well in advance of what geologists refer to as the “Great Oxidation Event” about 2.4 billion years ago that initiated
TechnologySept. 25, 2012
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Safe data storage for millions of years?
TOKYO (UPI) -- Japanese electronics firm Hitachi says it has invented a way of storing data that could keep it safe and stable for hundreds of millions of years.The technology behind the long-term storage capability involves a laser that is employed to encode data into a piece of quartz glass with dots corresponding to binary code that can be read back by an optical microscope, ZDNet reported.Hita
IndustrySept. 25, 2012
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NASA sees ‘gateway’ for space missions
NASA has proposed a candidate for its next major mission, a “gateway” spacecraft on the far side of the moon as a staging base for moon and Mars missions.The spacecraft would hover in orbit on the far side of the moon, support a small permanent crew and function as “stepping stone” for missions to the lunar surface and possible flights to Mars.NASA Administrator Charles Bolden briefed the White House earlier this month on details of the proposed “gateway,” but it was unclear if any administratio
TechnologySept. 25, 2012
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On Apple Maps, all roads lead to Google
CUPERTINO (UPI) -- U.S. technology giant Apple’s foray into mobile maps with its iPhone 5 had to do with advertising and a growing rivalry with Google, industry observers said.Apple’s iPhone 5, which went on sale Friday included a new online maps service that was “littered with flaws, some laughable,” The New York Times reported Monday.But behind the effort to compete with Google is the lucrative
TechnologySept. 25, 2012