Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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FDA halts orange juice imports for test
The U.S. has temporarily halted shipments of imported orange juice from all countries while they’re being tested, and said it will destroy or ban products containing even low levels from a banned fungicide. If levels of the chemical, carbendazim, are found to be below trace amounts, the products may
IndustryJan. 12, 2012
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Alcohol releases addictive endorphin: study
Drinking alcohol helps to release endorphins in areas of the brain that produce feelings of pleasure and reward, a study found.According to the study led by researchers at the University of California, San Francisco, endorphin release in the nucleus accumbens and orbitofrontal cortex in response to
TechnologyJan. 12, 2012
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Samsung eyes 15% growth in TV sales this year
(Yonhap News)Samsung Electronics Co., South Korea's tech behemoth, said Thursday it aims to increase its sales of televisions by around 15 percent this year by boosting its entire lineup of TVs.Yoon Boo-keun, president of Samsung's TV business, was quoted as saying at a consumer electronics show in
TechnologyJan. 12, 2012
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Company announces low-cost DNA decoding machine
NEW YORK (AP) _ A biotechnology company announced it has developed a machine to decode an individual's DNA in a day for $1,000, a long-sought price goal for making the genome useful for medical care.Life Technologies Corp. said Tuesday it was taking orders for the technology, which it expects to del
TechnologyJan. 12, 2012
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Hana Financial CEO to quit
Hana Financial Group president & CEO Kim Jong-yeol expressed his intent to resign on Wednesday, even though his term was not to expire until the end of February.The sudden resignation of the group’s No. 2 figure is drawing interest as the financial group has been striving to acquire Korea Exchange Bank from Lone Star Funds.Kim was quoted by a news provider as saying that he “does not want to be a hurdle for the realization of the KEB takeover deal.”There is a possibility that the relations betwe
Jan. 11, 2012
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Silver industry, Asia, Arab world keywords for next ten years
Korea should swiftly draft measures to meet surging demand from the aging population and deep-pocketed Arab and Asian consumers to sustain growth for the next 10 years, a trade association urged Wednesday. Over the next decade, the growing elderly population will be a significant factor driving the market around the world and create niche products, the Korea International Trade Association said in a report. The United Nations forecasts the number of people aged 65 or older will rise from 530 mil
IndustryJan. 11, 2012
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Korean firms expect difficult financial situation in Q1: poll
South Korea’s businesses are bracing for unfavorable financial conditions in the first quarter of this year, mainly due to sluggish economic growth and falling sales and profits, a poll showed Wednesday.The survey of 500 companies by the Korea Chamber of Commerce and Industry showed the business survey index on corporate finance dropping to 79 for the January-March period from 92 three months earlier.It is the lowest reading since the organization started taking the poll in the third quarter of
Jan. 11, 2012
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‘LG will rise to top in 3-D TVs this year’
LAS VEGAS ― LG Electronics plans to increase its global television market share to 27 percent by the end of this year, up from 18 percent in 2011, according to its home entertainment business chief on Wednesday.Kwon Hee-won, president of the HE unit at the company, said that it also expects to see growth of 15-20 percent in sales of TVs throughout the year in a press conference held on the sidelines of the Consumer Electronics Show.The company will rise to the top of the ladder in 3-D TVs this y
IndustryJan. 11, 2012
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Antitrust regulator to probe beef prices
Fair Trade Commission Chairman Kim Dong-soo vowed on Tuesday to streamline the complicated distribution systems of consumer products this year, with beef the first target. The state-run antitrust regulator said it plans to reveal next week the result of its investigation into the whole distribution process of beef cattle and the selling prices at major retailers and restaurants.The nation’s cattle farms have been hit hard by the fall in beef cattle prices due to an oversupply of Korean-bred cows
IndustryJan. 11, 2012
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Shares end lower on tech losses, China woes
Korean stocks closed 0.41 percent lower Wednesday, as investors unloaded shares in large-cap tech issues amid worries over signs of a slowing economy in China, analysts said. The local currency fell against the U.S. dollar.After bobbing in and out of negative territory, the benchmark KOSPI lost 7.67 points to 1,845.55. Trading volume was light at 235.1 million shares worth 2.20 trillion won ($1.89 billion) with decliners outpacing gainers 428 to 358. “Tech blue-chips lost ground largely due to c
Jan. 11, 2012
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Korea’s yearly aid to emerging countries tops $1 billion
Korea’s financial aid to underdeveloped and developing countries has surpassed $1 billion per annum.The Export-Import Bank of Korea said Wednesday that the yearly amount of “official development assistance” has reached $1.17 billion.This means each Korean offered an average of 27,730 won to underdeveloped and developing countries, according to the state-run bank.Asia was the main target of the ODA, accounting for 65.2 percent, followed by Africa with 15.5 percent, and South & Central America wit
Jan. 11, 2012
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Korean companies suffer more credit downgrades in 2011: report
Korean companies suffered a series of credit downgrades last year, while three global rating agencies maintained their credit outlook for the nation at stable, the Korea Center for International Finance found Wednesday. According to a KCIF report, the world’s top three credit ratings agencies Fitch, Standard & Poor’s and Moody’s lowered the credit ratings of Korean companies 10 times last year. The companies included POSCO, Shinsegae, LG Electronics, Woori Investment & Securities, Citibank Korea
IndustryJan. 11, 2012
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Silver industry, Arab world, Asia: keywords for next decade
Korea should swiftly draft measures to meet surging demand from the aging population and deep-pocketed Arab and Asian consumers to sustain growth for the next 10 years, a trade association urged Wednesday. Over the next decade, the growing elderly population will be a significant factor driving the market around the world and create niche products, the Korea International Trade Association said in a report. The United Nations forecasts the number of people aged 65 or older will rise from 530 mil
IndustryJan. 11, 2012
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Tough rules on stocks linked to politicians
Korea’s financial authorities are moving to deal sternly with stocks that move drastically in tandem with politician-linked rumors and other artificial factors. The Korea Exchange, which runs the KOSPI and KOSDAQ, said Wednesday it is considering halting the trading of shares immediately when they receive official investment warnings.The plan comes as a series of local stocks climbed erratically mainly due to market rumors and speculation generating a wide range of “themes,” including the politi
Jan. 11, 2012
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Coupang to focus on customer satisfaction in 2012
Coupang, the country’s fastest-growing social commerce firm, is focusing on drafting customer satisfaction measures this year, with plans to have them take up 70 percent of its new services, said its chief executive.As an initial step, the company plans on opening a new call center and a self-owned logistics center by this month, Kim Bom-suk recently told The Korea Herald.“While we put an emphasis on completing our customer satisfaction scheme in 2012, we plan to unveil the measures step-by-step
IndustryJan. 11, 2012
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Jobless rate drops to 3.4% in 2011
Korea’s jobless rate fell last year from a year earlier, but its labor markets remain tough amid worries over a slowing economic recovery, a report showed Wednesday.The jobless rate stood at 3.4 percent in 2011, down 0.3 percentage points from a year earlier, according to the report by Statistics Korea. It is the lowest in three years.The report showed that the economy added 415,000 more jobs last year compared to the previous year, a jump from 323,000 jobs gained on-year in 2010.In December, ho
Jan. 11, 2012
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Regulator to step up inspection of big savings banks
South Korea’s financial regulator said Wednesday it plans to step up the inspection of the country’s major savings banks this year as part of its efforts to restructure the ailing sector.According to the Financial Services Commission, its executive body, the Financial Supervisory Service, is expected to sign an agreement with the state-run deposit insurer Korea Deposit Insurance Corp. to conduct annual inspections of savings banks with assets over 2 trillion won ($1.7 billion) or those who have
Jan. 11, 2012
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‘Korea-U.S. FTA will take economic ties to higher level’
A top U.S. Chamber of Commerce official said the Korea-U.S. free trade agreement, which is set to take effect soon, will further enhance economic relations between the two allies. “In this Korea-U.S. FTA, it’s a gold standard agreement, we already have a strong economic relationship, we got a great security relationship, a strong political friendship, but it takes the economic relationship to the next level,” said Tami Overby, vice president of the U.S. Chamber of Commerce. It is projected that
Jan. 11, 2012
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Sonata named car of the year in China
Hyundai Motor Co.’s Sonata has been named the best car of the year by two Chinese car publications, industry sources here said Wednesday.The Sonata, Hyundai Motor’s flagship mid-size sedan, was selected as 2011 car of the year by Auto Sohu, one of the most influential automobile Web sites in China with 70 million daily visitors, according to the sources.Based on Internet polls and expert advice, the Chinese media picked the Sonata as last year’s best car, citing the sedan’s stylish exterior desi
MobilityJan. 11, 2012
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Korean sovereign fund suffers loss
Losses blamed on KIC’s purchase of Merrill Lynch stakeKorea Investment Corporation, Korea’s sovereign wealth fund, suffered a net loss of 3.3 percent in terms of average yield last year, hurt by the turmoil in the global financial market and a massive loss linked to its investment in Merrill Lynch, industry sources said Wednesday. The main culprit for the deeper loss is KIC’s poor stock investment, particularly concerning its holdings in Merrill Lynch. In early 2008, KIC bought $2 billion worth
Jan. 11, 2012