Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Medical feud leaves hospitals in financial crisis
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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'Queen of Tears' riding high on Netflix chart
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Speaker floats dual citizenship as solution to falling births
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Corporate mergers jump amid economic slump
Mergers among South Korea’s listed companies have surged this year as a growing number of firms tighten their belts to weather a protracted economic slump, the bourse operator said Sunday.A total of 83 mergers were announced on the country’s main and secondary stock markets in the first 10 months of the year, up 51 percent from the same period a year earlier, according to the Korea Exchange.The figure has already topped the 71 merger filings recorded in all of last year.Reasons for mergers inclu
Nov. 4, 2012
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Exporters face growing origin verification requests
South Korean exporters are being confronted with growing requests to verify the country of origin on their products as major economies toughen import rules amid a prolonged economic slowdown, the customs office said Sunday.According to the Korea Customs Service, 153 such requests from foreign importers were filed this year, accounting for nearly 60 percent of the total 258 requests submitted between 2008 and 2012.In particular, requests from the European Union more than tripled to 135 cases in t
Nov. 4, 2012
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SMEC launches new LTE security solution
SMEC, a South Korean communications solution provider, announced the launch of a new Long-Term Evolution security solution. The SP Series LTE Security Solution provides security for wireless data networks such as LTE, picocell, femtocell, and WiFi. It is a carrier-grade solution based on SMEC’s optimized design technology, built using AdvancedTCA platforms. It is designed to enable operators to protect their core networks from data loss and malicious attacks as they upgrade their 3G mobile netwo
IndustryNov. 4, 2012
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Asan Nanum launches internship program for U.N. affiliates
The Asan Nanum Foundation said on Sunday it has launched an internship program for U.N. affiliates by forming a partnership with the United Nations Volunteers, or UNV, headquartered in Bonn, Germany. The ANF signed a memorandum of understanding with the UNV on Saturday to offer Korean youths an internship program for international organizations under the United Nations. UNV is a U.N. organization that contributes to peace and development through volunteerism worldwide. Under the agreements with
Nov. 4, 2012
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Shares likely to rebound this week
South Korean shares may gather ground next week as stimulus hopes build up ahead of impending leadership changes in the U.S. and China, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1918.72 last week, up 1.4 percent from a week earlier, boosted by improved consumer sentiment in the U.S.Foreign investors purchased a combined net 170 billion won ($155.7 million) worth of shares, while institutional investors purchased a net 130 billion won. Individual investors
Nov. 4, 2012
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Hyundai tries to contain mileage fallout
Hyundai Motor Group is making all-out efforts to address a possible backlash for overstating the fuel economy of some 900,000 vehicles it sold in the United States over the past two years. On Friday, Hyundai apologized to customers that “procedural errors” in testing had caused inaccurate mileage estimates that were one to six miles per gallon higher than what Hyundai and Kia brand cars were actually capable of. “Given the importance of fuel efficiency to all of us, we’re extremely sorry about t
IndustryNov. 4, 2012
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Korea’s debt holdings near $3tr mark
South Korea’s total debt in the private and public sectors neared the 3,000 trillion won ($2.75 trillion) mark in the second quarter of this year, spawning concerns that high indebtedness will undercut economic growth, data showed Sunday.Combined debt held by the government, companies and households amounted to 296,2 trillion won as of end-June, accounting for 233.8 percent of the nominal gross domestic product, according to data.The ratio of such debt to the GDP stood at 231.1 percent as of the
Nov. 4, 2012
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Final parting for LG and GS
Two of Korea’s best known family-owned conglomerates ― LG and GS ― have finally severed their ties for good after more than six decades.Last week, LG group’s corporate trading arm LG International, sold off its remaining 11.97 percent stake in GS Retail worth 287.6 billion won ($250 million). The move comes seven years after the two groups went their separate ways by splitting up the affiliates under the names of LG and GS.LG is led by the Koo family, and GS by the Huhs. “It was widely expected,
IndustryNov. 4, 2012
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BMW narrows Mercedes’ lead in U.S.
BMW’s U.S. sales rose 21 percent in October, narrowing the lead of Daimler AG’s Mercedes-Benz in luxury-auto deliveries this year. Sales for BMW climbed to 26,451 vehicles last month, boosted by a 26 percent gain for its 3-Series. Mercedes yesterday reported a 5.9 percent increase from a year earlier to 23,978, helped by updated versions of the C-Class small sedan. Toyota Motor Corp.’s Lexus rose 9.7 percent to 19,850.The October results trimmed Mercedes’s lead to 2,748 vehicles, from 5,221 at t
MobilityNov. 4, 2012
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Renault Samsung Motors eyes leap with new midsized sedan SM5
Renault Samsung Motors’s flagship mid-size sedan, the SM5, was introduced in 1998 and has been one of the best-selling models in the segment here. On Friday, the Korean unit of the France-based Renault Group unveiled the New SM5 Platinum, a facelift for the third generation 2010 model. The new SM5 has fresh styling with a new chrome grille and a more voluminous bumper. The overall exterior represents the steady-seller car’s futuristic and dynamic makeover. Especially, the newly-equipped LED head
MobilityNov. 4, 2012
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VW threatens to end GM’s 8-year China lead
After trailing General Motors Co. in China for eight years, Volkswagen AG edged ahead in the third quarter, putting it one step closer to its goal of becoming the world’s biggest automaker. VW’s deliveries in the country jumped 21 percent last quarter, almost triple GM’s growth, to 704,991 vehicles, according to figures the company reported.That beat the 664,765 that GM reported earlier this month. At stake is supremacy in the world’s biggest auto market, which analysts say will likely exceed th
MobilityNov. 4, 2012
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FTAs boost import vehicle sales: KAMA
Korea’s import car industry’s sales growth is rapidly rising mainly thanks to the nation’s free trade agreements with the United States and the European Union, according to a local car industry lobby group.In its report last week, the Korea Automobile Manufacturers’ Association said that import brands saw their vehicle sales increase by 15.5 percent for the first three quarters of 2012 on a year-on-year basis.Their brisk performance was “on the back of the Korea-EU FTA and the Korea-U.S. FTA,” t
MobilityNov. 4, 2012
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Age of happiness for men
A British study revealed that men feel happiest at around the age of 37.Menswear brand “Jacamo” said it is stability, routine and long term commitment that satisfies the male species. The happiest time of a man’s life is around age 37 -- when they have climbed the career ladder and started a family, a new study has found. Phillip Hodson, fellow of the British Association for Counselling and Psychotherapy said “It would be logical to think that men would be happier when they are younger, when the
TechnologyNov. 4, 2012
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Watchdog fines 20 brokerages for fixing bond rates
South Korea's antitrust watchdog said Sunday it has decided to fine 20 local securities firms a combined 19.2 billion won ($17.6 million) for colluding to fix rates on some small-denomination bonds.The Fair Trade Commission also said it plans to lodge a complaint with the prosecution against six securities firms, including industry leader KDB Daewoo Securities, which are viewed as being deeply involved in the rate-fixing.Korean consumers are required to buy small bonds including national housing
Nov. 4, 2012
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Future health can be predicted by reaction to daily stressors
U.S. researchers have found that people’s reactions to daily stressors determine their heath consequences 10 years in the future. “Our research shows that how you react to what happens in your life today predicts your chronic health conditions and 10 years in the future and your future stress,” said David Almeida, a professor of human development and family studies. Almeida and his colleagues surveyed by phone 2,000 individuals every night for eight consecutive nights regarding what had happened
TechnologyNov. 4, 2012
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NASA rover doesn’t detect methane on Mars
LOS ANGELES (AP) -- Scientists say initial sampling of Mars‘ atmosphere by the NASA rover Curiosity did not definitively detect methane, a gas that can be a clue to determining if the red planet ever was hospitable to microbial life.Test results released Friday in a teleconference from Jet Propulsion Laboratory are not conclusive but are in line with past studies that found no regular methane on Mars.The results do stand in contrast to other research such as observations by Earth-based telescope
TechnologyNov. 4, 2012
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EPA finds Hyundai, Kia overstated gas mileage
Hyundai and Kia, Korea's two biggest automakers, overstated the gas mileage on 900,000 vehicles sold in the past three years, a discovery that could bring sanctions from the U.S. government and millions of dollars in reimbursements to car owners.The inflated mileage was uncovered in an audit of test results by the Environmental Protection Agency, which ordered the Korean automakers to replace fuel economy stickers on the affected cars. The new window stickers will have figures that are one-to-si
MobilityNov. 3, 2012
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Android flaw can permit text phishing
Researchers at North Carolina State University say a vulnerability discovered in Android could lead to text message phishing for personal information.The vulnerability affects devices running Gingerbread, Ice Cream Sandwich, and Jelly Bean versions of the Android operating system, Slash Gear reported.The vulnerability would allow a downloaded app infected with malware to make it appear the phone receive texts messages from someone on the phone user's contact list.Such fake messages can be used t
TechnologyNov. 3, 2012
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S. Korea, India to provide $1.1 bln financial support for biz cooperation
South Korea and India agreed to provide a combined US$1.1 billion worth of financial support for their bilateral business cooperation, the finance ministry said.The agreement was signed during the finance minsters' meeting held in central Seoul earlier in the day between the two countries, according to the ministry.Under the agreement, both will provide the financial support through their own export-import banks over the next five years to companies seeking to join in infrastructure construction
BusinessNov. 3, 2012
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Samsung may delay completion of chip-making factory
Samsung Electronics Co. said it is considering delaying the completion of a factory to produce system semiconductors due to macroeconomic headwinds.Samsung Electronics said that it is considering pushing back the completion of a 2.25 trillion won (US$2.06 billion) factory due to the global economic slowdown and market conditions. The factory, located in Hwaseong, 60 kilometers south of Seoul, is under construction.The world's top maker of computer memory chips originally planned to finish the co
TechnologyNov. 3, 2012