Most Popular
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Yoon's approval rating plunges to all-time low
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Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
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S. Korea votes in favor of Palestinian bid for UN membership
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[From the Scene] Monks, Buddhists hail return of remains of Buddhas
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Medical schools granted enrollment quota flexibility for next year
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Yoon offers first one-on-one meeting with opposition leader next week
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France rejects opening Paris flight routes to T'way Air, deals blow to Korean Air merger
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Chinese man behind drug scam targeting teens nabbed in Cambodia
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Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan
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[Graphic News] French bulldog most popular breed in US, Maltese most popular in Korea
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Creditors demand Kumho Petrochemical sell stake in Asiana
Creditors demanded Kumho Petrochemical sell off its stake in Asiana Airlines to facilitate the petrochemical company’s separation from Kumho Asiana Group.“We urged Kumho Petrochemical to dispose of some 14 million shares it holds in Asiana Airlines to meet the requirements for its separation from Kumho Asiana Group,” an official at one of the creditors said Monday. For this, the creditors decided to remove the collateral on the 7.72 percent of the airliner’s common stocks, or some 14.13 million
IndustryDec. 26, 2011
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New nuclear plants face public backlash
Civic groups, environmentalists, residents stage protests, voicing safety concerns The government’s plan to install new nuclear reactors in the country’s eastern shore faces stiff opposition from residents, stoking safety concerns in the aftermath of a Japanese disaster.Last week, the government picked two candidate sites for nuclear power plants --Yeongdeok in North Gyeongsang Province and Samcheok in Gangwon Province. The decision will be finalized by late next year after on-site inspections a
IndustryDec. 26, 2011
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FSC puts reins on credit cards to curb debt
New rules include imposition of age, income limit on customersKorea’s financial regulators said on Monday they would toughen qualifications for credit card issuance as part of efforts to stem excessive spending through plastic. The Financial Services Commission unveiled plans for the new credit card issuance guidelines and other measures aimed at reining in fast-rising credit card spending and ballooning household debt at a time when the country’s economy braces for an extended slowdown due to
Dec. 26, 2011
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Seoul shares drop on institutional selling
Korean stocks finished 0.56 percent lower on Monday as uncertainties about Europe overshadowed upbeat U.S. data, prompting institutional sell-offs, analysts said.The local currency fell against the U.S. dollar. After opening briefly higher, the benchmark KOSPI dropped 10.52 points to 1,856.70. Trading volume was moderate at 424 million shares worth 2.97 trillion won ($2.58 billion) with losers outpacing gainers 448 to 357. “Investors are not paying much attention to past economic data as they ar
Dec. 26, 2011
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Seoul shares end 0.56% down on institutional selling
South Korean stocks finished 0.56 percent lower on Monday as uncertainties about Europe overshadowed upbeat U.S. data, prompting institutional sell-offs, analysts said.The local currency fell against the U.S. dollar.After opening briefly higher, the benchmark KOSPI dropped 10.52 points to 1,856.70. Trading volume was moderate at 424 million shares worth 2.97 trillion won ($2.58 billion) with losers outpacing gainers 448 to 357.“Investors are not paying much attention to past economic data as the
Dec. 26, 2011
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KT to start long-awaited LTE service from next week
By Lee Ji-yoonKT Corp, the nation’s second-largest telecom operator, plans to start its long-awaited Long Term Evolution service from next week after a Seoul court gave it the green light on Monday to ditch its feature phone service.According to KT, it will shut down the second-generation network service in phases, first in Seoul at 10 a.m. on Jan. 3, starting faster LTE service straight away on that day. The Seoul High Court on Monday overturned a lower court ruling in favor of some 900 users w
IndustryDec. 26, 2011
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Earth has two moons now
The Earth has always had a second moon, new study has claimed. When astronomers in Arizona found a mysterious titanium white object orbiting the Earth in the fall of 2006, it looked like a spent rocket stage The full moon rises behind the ancient temple of Posseidon, in Sounio about 73 kilomet
TechnologyDec. 26, 2011
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KT to start long-awaited LTE service from next week
KT Corp, the nation’s second-largest telecom operator, plans to start its long-awaited Long Term Evolution service from next week after a Seoul court gave it the green light on Monday to ditch its feature phone service.According to KT, it will shut down the second-generation network service in phase
TechnologyDec. 26, 2011
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Kumho Petrochemical pressed to sell stake in Kumho Asiana
Creditors of Korea Kumho Petrochemical Co. are pressing the company to sell its stake in Asiana Airlines Inc., a major affiliate of Kumho Asiana Group, in order to separate the petrochemical firm from the group, industry sources said Monday.Park Chan-koo, chairman of Kumho Petrochemical, has been se
Dec. 26, 2011
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BOK under pressure to tighten this week
Dec. 26, 2011
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'Anonymous' hackers target US security think tank
LONDON (AP) _ The loose-knit hacking movement ``Anonymous'' claimed to have stolen thousands of credit card numbers and other personal information belonging to clients of U.S.-based security think tank Stratfor. One hacker said the goal was to pilfer funds from individuals' accounts to give away as
TechnologyDec. 26, 2011
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IT-related application sales nearly double
Sales of information technology-based applications in Korea have almost doubled on average over the past three years, driven by soaring demand for high-tech solutions to upgrade products, a poll showed Sunday. Five-hundred companies, chiefly non-IT, raked in more than 160 billion won ($139 million) collectively from the business-to-business transactions last year, according to the Ministry of Knowledge Economy. Total output has surged more than 28 percent to almost 50 trillion won between 2007 a
IndustryDec. 25, 2011
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Cleaning robots pep up slumping market for home appliances
Sales of robotic vacuum cleaners in Korea have more than tripled in three years, perking up the sluggish local market for home appliances, industry data showed Sunday.The market expanded at an average rate of 56 percent over the last three years, from a scant 36,000 units in 2008 to 130,000 this year, the data showed. That is expected to further grow to 170,000 units next year. The upbeat growth was driven by surging demand for easier, quicker and more fun solutions to household chores among Kor
IndustryDec. 25, 2011
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Demand for luxury goods still high in Korea
Foreign luxury brands continue to increase prices despite economic slowdownLee, a 29-year-old office worker, breathed a sigh of relief recently after she passed through the arrival gate at the Incheon International Airport without any tussle with customs officials.Coming back from a business trip to Paris, she was carrying a 1,660 euro ($2,160) Chanel bag within her luggage. But she didn’t report to customs the luxury item in excess of the $400 duty free allowance. “Because it’s a random check-u
IndustryDec. 25, 2011
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Regulators plan to fuel growth to ETF market
Retirement and pension funds may be allowed to engage in ETF to nurture long-term investmentKorea’s financial regulators plan to nurture the fledgling ETF market by allowing pension and retirement funds to engage in the investment vehicle in question as part of efforts to encourage long-term investment practices. The country’s financial regulators led by the Financial Services Commission are reviewing options aimed at giving an impetus to the ETF market starting from early next year. ETF, or exc
Dec. 25, 2011
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Self-employed biz lending accounts for 33.9 percent of SME loans
The amount of money borrowed by self-employed entrepreneurs accounted for 33.9 percent of all loans taken out by small and medium enterprises, data showed Sunday, raising worries it may weigh on government efforts to curb private sector debt.Korean lenders extended loans worth 157.9 trillion won ($137.4 billion) to self-employed business-people as of the end of November, from a total of all SME loans that reached 465.2 trillion won, according to the data from the Financial Supervisory Service.Th
Dec. 25, 2011
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Korean businesses bracing for escalating uncertainties
Korea is girding itself for a series of external uncertainties surrounding its economy that are expected to reach their peak in the first quarter of next year, officials said Sunday.Amid a global economic slowdown, the bulk of sovereign debts issued by five highly indebted eurozone countries will mature during the January-March period, the most serious risk factor that could rattle financial markets across the globe.Washington’s additional sanctions on Iran for the latter’s suspected nuclear arm
Dec. 25, 2011
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Shares likely to gain ground on improving U.S. data
South Korean stocks will likely continue to gain ground this week as improving U.S. economic indicators are expected to bolster investor sentiment, analysts said Saturday.The benchmark KOSPI rose about 1.5 percent last week to close at 1,867.22 on Friday. The rise came despite a plunge on Monday caused by news of the death of North Korean leader Kim Jong-il.Investors were spooked by heightened geopolitical risks, but soon turned their focus more to economic news coming from the U.S. and Europe.S
Dec. 25, 2011
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Major Korean firms’ hiring to edge down in 2012: poll
Major Korean companies are forecast to cut their hiring of new employees only slightly next year despite increasing economic uncertainties and a possible slowdown, a poll showed Sunday.According to the survey by the Korea Chamber of Commerce and Industry, 262 companies plan to hire a combined 28,412 people in 2012, down a mere 1.3 percent, or 365, from this year.The survey covered the country’s top 500 companies by sales, of which 325 responded, the KCCI said.“Despite all the negative economic f
Dec. 25, 2011
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Dividends to foreigners to top W9tr
Investors may demand bigger payments next year for losses from eurozone debt crisisForeign investors are expected to reap more than 9 trillion won ($8 billion) in dividends on the South Korean bourse this year, data showed Sunday. In contrast, Korean investors are likely to see their dividend income from foreign firms standing at less than 4 trillion won, illustrating the widening gap that raises the issue of lopsided dividend payout involving foreign investors. According to the Bank of Korea, o
Dec. 25, 2011