Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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North Korea fires several short-range ballistic missiles into sea: JCS
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Samsung, SK hynix investors dump shares on Nvidia crash
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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‘Agricultural sector should go after high-end’
Riding the Korean Wave is not enough. For local farm products to cater to a bigger international audience, they must find ways to become premium, high-end brands, according to a man who has devoted his life to developing Korea’s agricultural sector. “If Psy can do it, why not our cuisine?” asks Kim Jae-soo, president of the state-run Korea Agro-Fisheries & Food Trade Corp., or aT, in an interview with The Korea Herald. “Hallyu definitely helped boost Korea’s image, but the agricultural sector mu
BusinessFeb. 12, 2013
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Energy think tank calls for gas cooperation in Northeast Asia
Natural-resource-poor South Korea has been sensitive to changes in the global energy landscape for its energy security. One of the latest major trends in the global energy sector is the emergence of natural gas in the global energy mix, boosted by the shale gas revolution in the U.S.In line with the trend, Korea, the world’s second-largest buyer of liquefied natural gas, is advised to develop a strategy in preparation for the “golden age of gas.”“The upcoming shale gas boom will reduce natural g
BusinessFeb. 12, 2013
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Conglomerates boost charitable activities
Some South Korean family-controlled conglomerates have either created or strengthened their organizations handling corporate social responsibility, officials said Tuesday, in what could be an attempt to soothe widespread corporate bashing.The move comes as many South Koreans have called for corporate social responsibility in recent years amid widespread perception that conglomerates are to blame for the wealth gap.GS Group plans to unveil programs meant to provide social contributions after its
Feb. 12, 2013
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Top 20 listed companies’ market cap soars in 2012
South Korea’s top 20 listed companies saw their combined market capitalization jump over 16 percent in 2012 from a year earlier, accounting for more than half the total value of companies listed on the main bourse, data showed Tuesday.The combined market cap of the top 20 companies reached 605.5 trillion won ($553.3 billion) in December 2012, up 16.3 percent from a year earlier, according to the data compiled by the bourse operator Korea Exchange.The figure takes up 52.46 percent of the aggregat
Feb. 12, 2013
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Lee Jay-yong to serve as director on Boao Forum
Samsung Electronics vice chairman Lee Jay-yong is expected to be appointed this April as director of a key Asian economic forum, according to industry sources on Tuesday. Lee is to be named as director of the Boao Forum for Asia at their 12th assembly meeting which is scheduled to be held in Boao, Hainan province, China, in early April, sources said. Chey Tae-won, the embattled chairman of SK Group, currently serves as director but his four-year term expires this year. The Boao Forum for Asia is
IndustryFeb. 12, 2013
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Facebook sued over use of ‘like’ button
The widow of a Dutch programmer is suing Facebook over its use of a “like” button and other patented technology she says was developed by her husband.Patent-holding company Rembrandt Social Media, acting on behalf of the widow of Joannes Jozef Everardus van Der Meer, has filed a suit in U.S. District Court in Virginia.The suit charges Facebook is using two of Van Der Meer‘s patents without permission.Rembrandt now owns those patents for technologies Van Der Meer utilized in creating a fledgling
TechnologyFeb. 12, 2013
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China reports 2 bird flu cases in humans
China‘s Health Ministry said Sunday two human cases of H5N1 bird flu in the southwestern city of Guiyang.The patients were identified as a 21-year-old woman and a 31-year-old man, who developed symptoms Feb. 2 and Feb 3, respectively.“They are in critical condition and medical workers are carrying out emergency treatment,” the ministry said in a statement. “No epidemiological connections have been found between the two cases.”The ministry said an investigation found o evidence the two had contac
TechnologyFeb. 12, 2013
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61% of U.S. adults have no living will
Fewer than 1-in-3 U.S. adults say they have a living will indicating whether they want life-sustaining medical care if incapacitated, a survey indicates.The survey by FindLaw.com, a legal information website, found 61 percent of U.S. adults said they have no living will, also known as a healthcare directive or directive to physicians. A living will is a document in which a person can indicate his or her instructions in advance as to what medical treatments he or she wishes to receive in the even
TechnologyFeb. 12, 2013
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Seoul shares slip 0.26 pct on program selloff
South Korean stocks closed 0.26 percent lower Tuesday, driven by foreign-led program selling, with North Korea's nuclear test having little effect on the market, analysts said. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 5.11 points to finish at 1,945.79. Trading volume was light at303.5 million shares worth 2.81 trillion won (US$2.56 billion) with losers outstripping gainers 465 to 311. “Foreigners went on a net selloff in
Feb. 12, 2013
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Seoul shares edge down in late-morning trade
South Korean stocks traded marginally lower late Tuesday morning, led by losses in utilities and insurance companies, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) inched down 0.11 points, or 0.01 percent to 1,950.79 as of 11:20 a.m.State-run electricity provider Korea Electric Power Corp. slid nearly 2 percent, with No. 1 life insurer Samsung Life Insurance falling 1.2 percent. In contrast, tech and construction firms gathered ground, with flat panel giant LG Display ga
Feb. 12, 2013
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Computer helping save lost languages
Canadian computer scientists say a computer can reconstruct lost languages by analyzing the sounds uttered by those who speak their modern successors.Alexandre Bouchard-Cote at the University of British Columbia in Vancouver and colleagues report a machine-learning algorithm can suggest the most likely phonetic changes behind a language‘s evolution as words mutate and sounds shift.As an example of sound shifting, the researchers cite a recent change known as the Canadian Shift, where many Canadi
TechnologyFeb. 12, 2013
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Planet color may suggest alien life
The light signatures of lichens and algae reflected in a distant planet's distinctive coloring could be evidence of alien life, German researchers say.Seen from space, Earth gives off a large amount of near-infrared light reflected off the chlorophyll in plants, and similar light wavelength might be seen on distant exoplanets if they also host green vegetation, they said.However, Siddharth Hegde and Lisa Kaltenegger of the Max Planck Institute for Astronomy in Heidelberg, Germany, said they thin
TechnologyFeb. 12, 2013
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Korea logs surplus in cultural trade in 2012
South Korea posted the first-ever surplus in trade of cultural products and services last year on the back of the popularity of its pop culture in overseas countries, data showed Tuesday.The account tracking exports and imports of cultural products and contents logged a surplus of US$85.5 million last year, a turnaround from a shortfall of $94 million in 2011, according to data by the Bank of Korea (BOK).This marks the first time that this account posted a surplus since the central bank began to
Feb. 12, 2013
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Dogs may understand human point of view
Domestic dogs are more likely to steal food if they think nobody's watching, suggesting they understand a human's point of view, a British researcher says.Psychologist Juliane Kaminski of the University of Portsmouth has demonstrated when a human forbids a dog from taking food, the dog is four times more likely to disobey in a dark room than a lighted one, suggesting they're taking into account what the human can or cannot see."That's incredible because it implies dogs understand the human can't
TechnologyFeb. 12, 2013
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Local households' consumption falls on debt
South Korean households' consumption fell in the third quarter of 2012 from a year earlier, data showed Tuesday, apparently as the country's rising household debts gave limited leeway in their spending.Local households with more than two members saw their consumption-to-income ratio reach 59.6 percent in the third quarter, down 3.13 percentage points from a year earlier, according to the data by Statistics Korea.The number marks the lowest rate since the agency started to compile such data in 20
Feb. 12, 2013
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Seoul shares open tad higher on large-cap gains
South Korean stocks opened a tad higher on Tuesday, driven by gains in large-cap firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) added 2.36 points, or 0.12 percent, to 1,953.26 in the first 15 minutes of trading. Top-cap Samsung Electronics climbed nearly 1 percent, with second-largest listed company Hyundai Motor advancing 0.8 percent and chipmaker SK hynix rising 1.2 percent. The local currency was trading at 1,096.20 won against the U.S. dollar as of 9:15 a.m.,
Feb. 12, 2013
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Chinese women largest group of marriage immigrants
Korea saw the highest number of international marriages between Korean men and Chinese women over the last 10 years, while more Korean women married Japanese men.According to Statistics Korea, the number of marriages between Korean men and Chinese women reached 130,230 between 2002 and 2011. Observers speculate that the high rate is related to the increase in the number of ethnic Koreans in China who visit or stay in Korea.This figure is followed by Korean marriages with Vietnamese women at 59,6
Feb. 11, 2013
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Korea-EU trade balance in the red despite FTA
Despite the anticipated effects of the Korea-EU Free Trade Agreement, the nations trade balance for the European Union last year posted a deficit for the first time in 15 years, according to the Korea Customs Service.Korea-EU exports, since they turned positive in 1998, had always remained in the black until the second half of last year.The key reason for the loss was the effects of the European financial crisis and a fall in the export of key strategic items such as ships, mobile phones and sem
Feb. 11, 2013
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[Power Korea] Lotte snacks, drinks tickle taste buds worldwide
With all-time favorites like the Choco Pie and Milkis, Lotte Confectionery and Lotte Chilsung Beverage have dominated Koreans’ tastes for the nibbles.The two are not just the largest Korean companies in their respective industries, but their stocks are also the two most expensive on the local bourse, traded at over 1.5 million won per share.And they are now pleasing the palates of people worldwide.Lotte Confectionery’s overseas sales are estimated to have grown from 450 billion won ($410 million
IndustryFeb. 11, 2013
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[Power Korea] Leap from chewing gum maker to nation’s No. 1 retail empire
When Shin Kyuk-ho founded Lotte in 1948, he began with selling chewing gum to children in post-war Japan.Dispelling doubts over the sweetened chicle business at a time when people were starving, Shin’s bubble gum became a major hit in Japan.He went on to start a trading firm, a real estate company and outstretched to the retail business, eventually building one of the biggest conglomerates in Japan.Shin, also going by Takeo Shigemitsu, then expanded business to his native Korea by establishing L
IndustryFeb. 11, 2013