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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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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Ministry denies blame for Jamboree debacle
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Korea’s textile market share drops
South Korea’s textile exports continued to drop in 2010 with its global market share also stepping down four notches since 2000, a local industry group said Sunday.According to a report from the Korea Federation of Textile Industries, the country shipped $12.6 billion worth of textile products, including clothes, in 2010, compared with $17.7 billion worth of products exported in 2000.The country’s global market share in the industry also dropped to 2.1 percent, the world’s eighth-largest, in 201
IndustryJan. 1, 2012
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Samsung chief, son to attend CES 2012
Samsung Electronics chairman Lee Kun-hee will attend the annual consumer electronics show in Las Vegas next week to examine the global trend in consumer electronics for this year, an industry source said Sunday.Lee will be accompanied by his son Jae-yong, president of Samsung Electronics Co., and several other executives of the world’s biggest manufacturer of memory chips and flat-screen TVs, the source said.Lee Kun-hee last visited the Consumer Electronics Show in Las Vegas in 2010 while Jae-yo
TechnologyJan. 1, 2012
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KT to allow unlimited data use for LTE subscribers
KT Corp., which plans to start the fourth-generation Long Term Evolution network service from Tuesday, may offer unlimited data use for 4G faster smartphone service. Industry sources said Sunday that KT would allow 3G phone users to embed the user services identity module, or USIM, chip into their LTE phones, which is banned by SK Telecom. SK Telecom, which started LTE services in July, doesn’t offer limitless data plans for LTE subscribers. Despite little difference in standard charges, heavy d
IndustryJan. 1, 2012
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Tycoons to take on crisis with investment
Conglomerate leaders seek long-term growth, more job creation, boosting exports in 2012Leaders of some of the nation’s largest conglomerates have pledged to invest more in their businesses in the New Year to tide over economic woes as the eurozone debt crisis persists. Samsung Group chairman Lee Kun-hee is expected to emphasize greater investment in a bid to pull through tough economic conditions in 2012.The 69-year-old tycoon in charge of the country’s largest conglomerate has stressed the need
IndustryJan. 1, 2012
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Shares expected to decline on eurozone woes
South Korean stocks are projected to trend lower in the first week of the new year, weighed down by nagging concerns over the eurozone debt crisis, analysts said Saturday.The benchmark KOSPI fell 2.2 percent last week to close at 1,825.74 on Friday as continued worries over Europe’s problem outweighed positive economic data from the United States.Reports showed that U.S. consumer confidence and orders for U.S. durable goods and home sales increased, but they were not strong enough to convince in
Jan. 1, 2012
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Trade surplus stays at $33.3 billion in 2011
South Korea’s trade surplus grew from a year earlier to $4 billion last month, remaining in the black for the 23rd consecutive month, the government said Sunday.The country’s exports reached $49.7 billion in December, up 12.5 percent from the same period last year with imports growing 14 percent to $45.7 billion, according to the Ministry of Knowledge Economy.For the whole of 2011, the country’s exports gained 19.6 percent on-year to $557.8 billion with imports growing 23.3 percent to $524.5 bil
Jan. 1, 2012
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Meat imports rise 55% in 2011
South Korea’s meat imports in 2011 are expected to reach $3 billion, up nearly 55 percent from a year earlier, with imports of pork more than doubling, the country’s customs office said Sunday.In the first 11 months of the year, the country imported 850,000 tons of meat, including beef and chicken, worth over $2.95 billion, according to the Korea Customs Service. The 11-month total represents a 52.9 percent hike from $1.93 billion in the same period in 2010.The increase was largely led by pork i
Jan. 1, 2012
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Overseas construction orders top $50b for second straight year
Korean construction firms’ overseas orders topped $50 billion for a second straight year in 2011 in a healthy sign of their growing competitiveness, a report showed Sunday.According to the report by the International Contractors Association of Korea, local builders won a combined $59.1 billion worth of deals last year. That falls far short of a record $71.6 billion set in 2010. But it still substantiates Korea’s clout in the global engineering and construction market, the organization said, give
IndustryJan. 1, 2012
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IPO market expected to stage recovery in 2012
Hyundai Oilbank, KDB Financial, Caffe Bene aim for listing on stock market this yearThe IPO market in Korea is poised to attempt a recovery in 2012 with 70 companies led by Hyundai Oilbank waiting in the wings to go public following disappointing performances last year.According to the Korea Exchange, the domestic initial public offering market saw 21 new entrants on KOSPI in 2011, down from 24 in 2010. The number of IPOs on the tech-packed KOSDAQ went down 24 percent on-year to 57. For the new
Jan. 1, 2012
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Hyundai Motor selling more luxury cars than ever in Europe
The profitability of South Korea’s largest automaker Hyundai Motor Group is fast improving in the European market as the company is selling record numbers of large luxury vehicles there, market observers said Sunday.In 2009, the automotive group sold 579,780 vehicles in Europe,79.5 percent of which were small or medium-size cars. The company’s sales rose to 620,372 units in 2010, but the proportion of small and medium-size vehicles dropped 3.7 percentage points to 75.8 percent.Sales of small and
MobilityJan. 1, 2012
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Saab Auto said to attract interest from India’s Mahindra
Mahindra & Mahindra Ltd., India’s biggest sport-utility vehicle manufacturer, is interested in buying at least parts of bankrupt Swedish carmaker Saab Automobile, two people familiar with the situation said.Mahindra, based in Mumbai, is in the process of trying to set up meetings with the two court-appointed administrators who are overseeing Saab’s bankruptcy to possibly buy parts of the carmaker or the whole company, said the people, who declined to be identified because the plans are private.
MobilityJan. 1, 2012
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Kia, Renault compete for first electric cars on road
But EV cars unlikely to be a popular option even in a decade, analysts sayThe recently announced government support for electric vehicles has sparked a race to launch homegrown zero-emission cars between Hyundai Motor Group and Renault Samsung. Both have vowed to launch the country’s first mass produced electric car in 2013.Kia Motors Corp., an affiliate of Hyundai, rolled out the all-electric version of its compact car Ray earlier this month and said it will supply a total of 2,500 units to pub
MobilityJan. 1, 2012
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Britain releases UFO sighting and policy files
TechnologyJan. 1, 2012
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As sales soar, experts warn about energy drinks
TechnologyJan. 1, 2012
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BusinessJan. 1, 2012
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Google exploring digital newsstand
IndustryJan. 1, 2012
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Korea weighing anti-inflation measures
Jan. 1, 2012
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Hard year for AT&T after iPhone loss
TechnologyJan. 1, 2012
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Big tech expected to keep profit growth
TechnologyJan. 1, 2012
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Mobile broadband users hit 1b in 2011
IndustryJan. 1, 2012