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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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Hopes rise for possible Gaza truce deal
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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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Makgeolli exports shrink 22.4%
Overseas shipments of South Korea’s traditional rice wine, makgeolli, shrank sharply in the first eight months of the year in the midst of a deepening global slowdown, customs data showed Sunday.According to the data by the Korea Customs Service, makgeolli exports totaled US$29 million in the first eight months of the year, down 22.4 percent from a year earlier. The volume of the beverage fell 24.1 percent on-year to 22 million liters over the eight-month period.Exports of makgeolli had jumped 8
IndustrySept. 23, 2012
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Shares expected to take recess this week
South Korean stocks are expected to take another breather this week, moving only in a tight range due to the lack of any major drivers to spur the market, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 2,002.37 last week, down 0.6 percent from a week earlier when the key index surged to a five-month high of 2,007.58.Foreign investors purchased a combined net 1 trillion won ($895 million) worth of shares, while institutional investors sold off a net 800 billion
Sept. 23, 2012
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Borrowings for stock investment surge
A growing number of small investors are investing in stocks on the secondary KOSDAQ market, particularly by applying for loans as they bet on a bullish market ahead of the Dec. 19 presidential election.According to the Financial Investment Association, stock investment-oriented outstanding loans to individuals increased by 29.8 percent over the past three months ― from 1.33 trillion won ($1.18 billion) at the end of June to 1.73 trillion won as of Sept. 20.The sort of lending means that investor
Sept. 23, 2012
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Top 10 big firms hiring fewer staff than they can afford
Hyundai Heavy, Hyundai Motor, POSCO had the lowest employment rateKorea’s top ten companies have been slow and reluctant to hire new employees despite a sharp increase in revenue over the years, according to media reports citing data by the Financial Supervisory Service and the Korea Chamber of Commerce and Industry.The number of people employed by the top 10 in their respective sectors such as consumer electronics, automobile, steel and retail only stood at 294,652 last year, up from 222,995 in
IndustrySept. 23, 2012
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Yongsan development plan in jeopardy
Korea’s historic property project faces another feud among largest shareholdersKorea’s largest-ever urban development plan in Seoul is falling into further disarray as its two major shareholders clash over control of the 31-trillion won ($27 billion) project. Yongsan, located in the heart of Seoul, is planned to receive a large-scale facelift and transformation into an international business hub by 2016. The project includes the construction of the world’s second-tallest building and 22 other sk
IndustrySept. 23, 2012
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Porsche, Daimler indicate Europe’s car crisis spreading
Daimler AG and Porsche AG provided evidence that the worst European car market in 17 years has started to spread to the luxury brands, mirroring a broader recession that has spilled from southern Europe to Germany. Stuttgart, Germany-based Daimler said yesterday that operating profit at Mercedes-Benz Cars will fall this year, lowering a previous target of matching the 2011 figure, while Porsche plans to build fewer than the 155,000 cars and sport- utility vehicles originally planned for next yea
MobilitySept. 23, 2012
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Hyundai Motor targets Africa, Brazil markets
Indian plant takes on exports to Africa; Brazilian plant starts car productionHyundai Motor is expanding its presence in Africa and Brazil ― two of the several automobile markets with mammoth growth potential ― by diversifying export models.While the largest carmaker in Korea is making the most of its manufacturing factory in India for its vehicle exports to African nations, it launched regular operation of its Brazilian factory over the weekend.Hyundai Motor has been closely competing with Toy
MobilitySept. 23, 2012
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Lee ranks 100 in Bloomberg rich list
Lee Kun-hee, the chairman of Samsung Group, Korea’s largest family-run conglomerate, has been ranked 100th in the Billionaires Index by Bloomberg, a U.S. media firm.It said that Lee owns assets worth some $10 billion (11 trillion won), joining the world’s 100 wealthiest individuals for the first time. The index has been expanded to 100 from 40.Carlos Slim, the Mexican telecom magnate, remains the richest man with a $74.5 billion fortune, followed by Bill Gates, founder of Microsoft, with $64.8 b
IndustrySept. 23, 2012
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Sense of smell, psychopathic traits linked
People with psychopathic tendencies -- callousness, manipulation and anti-social behaviors -- have an impaired sense of smell, Australian researchers say. Mehmet Mahmut and Richard Stevenson of Macquarie University in Australia said studies showed people with psychopathic traits have impaired functioning in the front part of the brain -- the area largely responsible for functions such as planning,
TechnologySept. 23, 2012
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Rice self-sufficiency rate to fall below 90 percent this year
South Korea's self-sufficiency rate of rice, one of its staple grains, is expected to drop below 90 percent this year due to a decline in land available for rice cultivation, the government said Sunday. The country's rice self-sufficiency rate is likely to reach 86.5 percent this year, based on the median output of 4.88 million tons over the past five years, according to the Ministry of Food, A
Sept. 23, 2012
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Apple, Samsung demand changes to $1B verdict
Neither side in a bitter patent battle is satisfied with Apple Inc.'s $1 billion jury verdict over Samsung Electronics Co. after a three-week trial this summer. Samsung wants a new trial. Apple is seeking an additional $707 million in damages and interest. The two companies filed a blizzard of legal papers late Friday and early Saturday with their demands that a federal judge in San Jose significa
IndustrySept. 23, 2012
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Samsung to release Galaxy Note 2 on Sept. 26
Samsung Electronics Co., the world's largest manufacturer of mobile phones, said Friday that it will release its brand new Galaxy Note 2 phablet in Seoul next week.The official launch is earlier than the October date given by Shin Jong-kyun, head of Samsung's IT and mobile unit, at the IFA 2012 trade fair in Berlin last month when the phablet was first unveiled.The company said the start of sales
TechnologySept. 22, 2012
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Shares gain on foreign buying
South Korean stocks advanced 0.60 percent on Friday as foreigners sought after risky assets, buoyed by the recent stimulus measures from major economies, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index closed up 12.04 points to 2,002.37. Trading volume was heavy at 641.9 million shares worth 4.91 trillion won ($4.38 billion) with gainers outpacing losers 461 to 354. “At least, the expectations on the third quantitative easing from W
Sept. 21, 2012
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Apple cuts LCD orders from Samsung Display
Apple Inc. has been scaling back purchases of liquid crystal display panels for tablet computers from Samsung Display Co., data showed Friday, amid speculation the iPhone maker is trying to rely less on the affiliate of its archrival Samsung Electronics Co. Samsung Display’s shipments of 9.7-inch LCD panels, which are only used in Apple’s iPad tablets, claimed 13 percent of total August shipments, plunging from 41.3 percent in May, according to data by market researcher DisplaySearch.Samsung Dis
Sept. 21, 2012
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GS Caltex starts work on polymer compounds plant
GS Caltex Co., South Korea’s second-largest oil refiner, said Friday it broke ground for a polymer compounds plant in the southern part of the country. The plant to be built in Jinju, 434 kilometers south of Seoul, is slated to start commercial operations in 2015 with an annual production capacity of 120,000 tons, the company said in a press release. Polymer compounds are functional plastics widely used for making cars and home appliances.GS Caltex currently has two polymer compounds plants in C
Sept. 21, 2012
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KB unveils plans to recover trust, brace for contingencies
KB Financial Group said Friday it will open an exclusive counter to offer financial consultations for people in the low- to middle-income brackets, expand support for small companies and create more jobs.KB unveiled the package of new measures as follow-up to a meeting of the nation’s largest financial groups and Financial Services Commission chief Kim Seok-dong last month. Other financial groups such as Woori, Shinhan, Hana and Nonghyup also revealed similar plans Friday.KB said its six new maj
Sept. 21, 2012
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Congressmen present U.S. flag to Hyundai Motor for charity
A group of 96 U.S. congressmen helping children suffering from cancer presented the star-spangled banner which had been hung in the Capitol in Washington D.C. to Hyundai Motor Co., in appreciation of the Korean carmaker’s support for the campaign, company officials said on Friday.Hyundai Motor is currently the only private company that the U.S. organization Childhood Cancer Caucus has invited for two consecutive years as an official partner for the community service program, the officials said.
MobilitySept. 21, 2012
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Samsung didn’t violate Apple patent: German court
A German court on Friday found Apple Inc.’s patent infringement claim on Samsung Electronics Co. invalid, giving an upper hand to the South Korean company that suffered a crushing defeat in an earlier U.S. jury verdict.The district court in Mannheim ruled Samsung didn’t infringe the iPhone maker’s patent on multi-touch flags. The patent is one of the six intellectual properties Apple addressed in its June 2011 claim against the South Korean tech titan.Samsung welcomed the German court ruling, pl
TechnologySept. 21, 2012
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IMF cuts Korea’s growth outlook to 3%
High level of household indebtedness remains serious concern, it saysThe International Monetary Fund cut its 2012 growth estimate for South Korea to 3 percent on Thursday, down 0.25 percentage point from its June forecast. It also revised its 2013 forecast to 3.9 percent from 4 percent in June. The IMF said that Asia’s fourth-largest economy is slowing in the face of strong global headwinds, with growth projected to bottom out during the course of 2012, regaining momentum toward the end of the y
Sept. 21, 2012
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Samsung didn't violate Apple patent: German court
A German court on Friday found Apple Inc.'s patent infringement claim on Samsung Electronics Co. invalid, giving an upper hand to the South Korean company that suffered a crushing defeat in an earlier U.S. jury verdict.The district court in Mannheim, one of the three German courts the two rivals have been facing off in, ruled Samsung didn't infringe the iPhone maker's patent on multi-touch flags.
IndustrySept. 21, 2012