Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Local brewery exports ‘bokbunja’ wine to China
Baesangmyun Brewery Co. has recently started exporting wine made with Korean blackberries ― called bokbunja ― to China.The company said Tuesday it clinched a contract worth 200 million won ($174,000) last month with Qingdao Hongbo Import & Export Co., a trading firm, to supply 60,000 bottles of the wine throughout this year. “The deal signifies the upbeat outlook for the Korean alcoholic beverage industry as China is emerging as one of the world’s biggest wine consumers, spurred by the rising in
IndustryJan. 4, 2012
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GS E&C aims to triple sales, operating profit by 2020
GS Engineering & Construction Corp. aims to more than triple its sales and operating profit and secure 35 trillion won ($30.4 billion) in overseas orders by 2020 as part of its long-term roadmap to become a global player.Korea’s third-largest builder on Monday unveiled ambitious goals of making 27 trillion won in sales and 2 trillion won in operating profit by 2020, both up more than 330 percent from 2010. Its orders totaled 14 trillion won in 2010. The company said it will also boost internatio
IndustryJan. 4, 2012
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Household debt, savings bank woes threaten finance sector
Rising household debt and trouble-laden savings banks pose a threat to Korea’s financial sector, which has long been protected and pampered by government-led bailouts and injections of public funds, analysts said Tuesday. The country’s banks and other financial companies confront a toxic mix of slower global growth and the protracted sovereign debt crisis in Europe, a precarious situation that could potentially increase the chance of bankruptcies here. “Banks handle a lot of loan-related busines
Jan. 4, 2012
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Foreign reserves fall for 2nd month in December
South Korea’s foreign exchange reserves declined for a second consecutive month in December as a weaker euro and a softer pound reduced the conversion value of non-dollar assets, the central bank said Tuesday.The country’s foreign reserves reached $306.4 billion last month, down $2.23 billion from the previous month, according to the Bank of Korea. The December reading marked the second straight monthly decline since the foreign reserves hit $310.98 billion in October. “The biggest reason was th
Jan. 4, 2012
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[MEET THE CEO] Seoul gateway to growth for Cushman & Wakefield
Global brokerage pins high hopes on retail market in AsiaFrom New York to London to Tokyo, any newcomer business seeks sound and effective investment in office, industrial or retail space to lay a firm footing in the market. Behind the bets was Cushman & Wakefield Inc., which has been consulting corporate clients on leasing, sales and management services for real estate across the globe for nearly a century.Since the 1997 opening of its Korean unit, the New York-based brokerage has witnessed th
IndustryJan. 4, 2012
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AhnLab’s price to earnings ratio breaks 100
Speculation over company founder’s presidential bid drives up stock priceThe stock price to earnings ratio of AhnLab Inc. soared over 100 Tuesday as the founder of the anti-virus software company continues to be counted as a strong presidential hopeful for the opposition bloc.It is the first time a company of this size has seen its PER, or the price paid for a share divided by the annual net income earned by the firm per share, reach 110 since the dotcom bubble about 10 years ago. AhnLab’s stock
IndustryJan. 3, 2012
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SK chairman steps up to normalize management
SK Group chairman Chey Tae-won instructed chief executives of affiliate companies to promptly normalize management on Tuesday, a day after other chaebol chiefs announced their business plans for the new year.The nation’s third largest conglomerate in asset value put off its annual year-end personnel reshuffle and finalizing of investment plans for 2012 as Chey and his younger brother went through prosecutorial investigation on charges of embezzlement to make up for losses in futures trading. Vic
IndustryJan. 3, 2012
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Shares end up 2.69 percent on Europe optimism
South Korean stocks jumped 2.69 percent Tuesday as investor sentiment was boosted by better-than-expected European economic data that showed signs of recovery, analysts said. The local currency rose against the U.S. dollar.The benchmark KOSPI jumped 49.04 points to 1,875.41. Trading volume was heavy at 437.9 million shares worth 4.8 trillion won ($4.2 billion), with gainers outnumbering losers 572 to 261.“Positive economic data in Europe provided a boost to a new-year rally,” said Um Tae-woon, a
Jan. 3, 2012
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GS E&C aims to triple sales, operating profit by 2020
GS Engineering & Construction Corp. aims to more than triple its sales and operating profit by 2020 and secure 35 trillion won ($30.4 billion) in overseas orders as part of its long-term roadmap to become a global player.Korea’s third-largest builder on Monday unveiled ambitious goals of making 27 trillion won in sales and 2 trillion won in operating profit by 2020, both up more than 330 percent from 2010. Its orders totaled 14 trillion won in 2010. The company said it will also boost internatio
IndustryJan. 3, 2012
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Samsung rolls out printers designed for smartphones
Samsung Electronics said Tuesday it rolled out a printer that does not need to be connected to a computer and can connect to a smartphone for printing and scanning.The wireless model of the printer series ML-2160 and SCX-3400 is installed with Wi-Fi Direct, allowing it to be controlled from a smartphone or other smart gadget, according to company officials.By downloading “Samsung mobile printing” applications from the Android or Apple mobile application stores, people can print files saved on th
IndustryJan. 3, 2012
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LG targets N. America 3-D audio market
LG Electronics said Tuesday it is launching three different 3-D home theater products in the North American area beginning in March as the firm aims to gain shares in the region’s 3-D audio and video markets.With plans to encourage people to think of LG when it comes to 3-D, the local electronics giant will display its new 3-D home theater lineup together with the firm’s Cinema 3-D TV at stores across the region in the first half of this year, said company officials.The three different models th
IndustryJan. 3, 2012
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Ssangyong targets 123,000 unit sales
Ssangyong Motor Co., South Korea’s smallest automaker, said Tuesday that it aims to sell 123,000 vehicles this year with sales reaching 3.19 trillion won ($2.77 billion) in order to overcome deepening market uncertainties.The automaker sold 113,000 vehicles last year, a 38.2 percent surge from the previous year.Of the total, 38,651 vehicles were sold at home and 74,350 in overseas markets.The company said it set an ambitious sales target for 2012 despite the global economic slowdown, and vowed t
MobilityJan. 3, 2012
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Korean automakers to keep momentum this year
HONG KONG (Yonhap News) - South Korean automakers are likely to maintain upward momentum this year, driven largely by brisk overseas demand, experts said Tuesday.Hyundai Motor Co. and Kia Motors Corp. expect weaker growth in sales this year, citing a slow-down in the global auto industry.The two flagship companies of Hyundai Motor Group saw their combined sales pass 6.59 million units last year, exceeding the 6.33 million sales target set in early 2011.“Hyundai and Kia are aiming for combined sa
MobilityJan. 3, 2012
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Foreign IBs forecast Korea to cut key rate this year
Foreign investment banks predict South Korea’s central bank will slash its key rate this year as exports and domestic demand are likely to cool on the persistent eurozone jitters, data showed Tuesday.Deutsche Bank and other major IBs have projected that the Bank of Korea will likely lower the benchmark 7-day repo rate to 3.15 percent by the third quarter of 2012, or 0.1 percentage point lower than the current figure, according to the data by the Korea Center for International Finance. The BOK fr
Jan. 3, 2012
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Seoul hints at stricter controls on capital flight
Supplementary budget possible to prop up the economy: vice finance ministerThe government is considering fresh measures to prevent sudden capital flight as a “complex set of growing external uncertainties” could destabilize the market, the Finance Ministry said Tuesday.“Capital control measures currently in place have been reasonably effective, but we’re studying the imposition of additional measures in case of excessive cross-border capital flows,” Vice Finance Minister Shin Je-yoon said in a
Jan. 3, 2012
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20% of ‘Buffett tax’ payers salaried workers
About 65,600 people with more than W300 million yearly income to be affected by new tax High-paid salaried workers would make up only 20 percent of those paying the “Buffett tax,” while the others are expected to be payers of comprehensive income or capital gains tax, a government report found Tuesday. The National Assembly on Saturday passed a controversial bill raising income taxes for the rich. The tax is named for American billionaire Warren Buffett, who has suggested that those in his incom
IndustryJan. 3, 2012
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Korean banks to expand presence in Asia
Major lenders look beyond China, Southeast Asia for growth in 2012Korea’s four major commercial banks plan to expand their business networks in Asia’s emerging markets this year.In particular, their 2012 targets include countries in central and Southern Asia as well as those in Southeast Asia, China and Japan.“Aside from markets like China, Vietnam and Singapore, the banking industry began actively tapping Kazakhstan, India and Bangladesh,” a local banker said.But he stressed that banks will sti
Jan. 3, 2012
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Tax agency to intensify probe into big firms, wealthy individuals
SEOUL, Jan. 3 (Yonhap) -- South Korea's tax agency said Tuesday it will beef up its investigation into large companies and wealthy citizens this year, in a bid to toughen its crackdown on tax evasion and expand the nation's overall tax revenue base. The National Tax Service (NTS) plans to intensify
Jan. 3, 2012
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Hormone linked to Alzheimer's diseases: study
A hormone found in body fat could develop the risk of dementia and Alzheimer's disease in older women, a study found."It is well established that insulin signaling is dysfunctional in the brains of patients with AD, and since adiponectin enhances insulin sensitivity, one would also expect beneficial
TechnologyJan. 3, 2012
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Critics assail crime laws aimed at people with HIV
NEW YORK (AP) -- A man in Texas is serving a 35-year prison sentence for spitting at a police officer _ because he has the virus that causes AIDS and his saliva was deemed a deadly weapon. In Michigan, an HIV-positive man who allegedly bit a neighbor during an argument faced a bioterrorism charge. C
TechnologyJan. 3, 2012