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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[Weekender] How DDP emerged as an icon of Seoul
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Tensions heighten ahead of first president-opposition chief meeting
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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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Seoul to provide housing subsidy to married couples with newborns
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[Music in drama] An ode to childhood trauma
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Rapper jailed after public street fight with another rapper
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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New head of doctors' association vows war in case of disadvantage to medical professors
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Apple unlikely to win German ban on Samsung Galaxy 10.1N
Apple Inc. is unlikely to win a ban on sales of Samsung Electronics Co.’s Galaxy 10.1N tablet computer, a modified version introduced after sales of the original tablet were blocked, a German court said.The Dusseldorf court that banned sales of the Galaxy 10.1 on Sept. 9 is unlikely to grant Apple an injunction against the Galaxy 10.1N, presiding judge Johanna Brueckner-Hofmann said at a hearing Thursday. Samsung has changed the device’s design sufficiently to distance it from the iPad, she said
TechnologyDec. 23, 2011
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Ex-BMW official to head design for Hyundai cars
Hyundai Motor tops German quality report for second consecutive yearHyundai Motor said Friday that former BMW designer Christopher Chapman will lead the carmaker’s global design initiative as chief designer at the Hyundai America Technical Center Inc. in the U.S.Chapman takes over from Philip Zak, who joined Hyundai Motor from General Motors in 2009 and recently returned to GM.The company expects that Chapman will strengthen Hyundai’s new automobile design and support the ongoing regeneration o
MobilityDec. 23, 2011
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Hanjin Group’s shipping unit selling shares of affiliates
Hanjin Shipping said Friday it sold off its entire stake in Hanjin Group’s de facto holding company Jungseok Enterprise Ltd., raising speculation over the shipping firm’s possible separation from the conglomerate.Hanjin Shipping has been selling its shares in major affiliates of Hanjin Group such as Hanjin Travel, which holds a 22.26-percent stake in Jungseok Enterprise.After selling a 14-percent stake in Hanjin Travel for 12 billion won earlier this month, Hanjin Shipping sold a 2.22-percent st
IndustryDec. 23, 2011
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N.K.’s economic dependence on China expected to deepen
North Korea’s economic dependence on China is expected to deepen following the death of its leader Kim Jong-il, making the North’s economy more “subordinate” to its strongest ally, experts said Friday.North Korea’s reliance on China for trade already increased in the past few years after South Korea cut almost all business relations with its communist neighbor and the international community banned commercial trade with the country because of its nuclear ambitions.According to the report by the
Dec. 23, 2011
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Ministry, BOK share need to reduce market volatility
South Korea should reduce currency market volatility and expand trade-related financing in order to help local exporters better cope with toughening overseas business conditions, the Finance Ministry and the central bank said Friday.The view was shared at a monthly meeting between the ministry and the Bank of Korea on the nation’s macroeconomic policy direction. They have held the monthly meetings since July.“We shared the view that policy authorities need to work to improve export conditions fo
Dec. 23, 2011
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Forex market faces bumpy road ahead
Korea’s foreign exchange market is expected to undergo a tough first quarter in 2012 as the Korean won is likely to weaken amid lingering eurozone woes and a current account deficit, market watchers said Friday.Global uncertainties stemming from Europe’s debt crisis and a U.S. economic slowdown weighed on the local currency this year.After strengthening to a yearly high of 1,050 won to the U.S. dollar on July 27, the won depreciated 12.2 percent to a yearly low of 1,196 won on Sept. 26.Experts s
Dec. 23, 2011
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Orion to expand production facilities in China
HONG KONG (Yonhap News) -- Orion Corp., South Korea‘s second-largest confectionery company, will expand its production facilities in China to meet growing demand there, company officials said Friday.China now accounts for more than 80 percent of the company’s overseas sales, thanks to the robust growth of confectionery sales in the world‘s No. 2 economy.The company, best-known for its hallmark “Choco Pie,” will increase its production lines in China from the current 46 to 150 by 2015. Of that 15
IndustryDec. 23, 2011
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Regulator approves 12 homegrown hedge funds
Korea’s financial regulator said Friday it has given the green light to the establishment of the country’s first 12 homegrown hedge funds, a move designed to nurture the sector.A total of nine local asset managers, including Mirae Asset Global Investments Co. and Shinhan BNP Paribas Asset Management Co., will manage funds worth around 150 billion won ($130 million), according to the Financial Services Commission.Five securities firms, including top-tier players Daewoo Securities Co. and Samsung
Dec. 23, 2011
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Moody’s: Korea’s credit rating outlook remains stable
HONG KONG (Yonhap News) ― Global credit appraiser Moody’s Investors Service said Thursday that the outlook for South Korea’s credit rating remains stable despite the death of North Korean leader Kim Jong-il. Kim ruled the communist nation for 17 years after inheriting power from his father and died of a heart attack on Saturday. He ruled with an iron fist and pursued nuclear weapons programs during his regime.Moody’s released a report on South Korea saying geopolitical risks will not constrain t
Dec. 23, 2011
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Samcheok, Yeongdeok new sites for nuke plants
Korea named two possible locations -― Yeongdeok, North Gyeongsang Province and Samcheok, Gangwon Province ― to build new nuclear power plants, speeding up its policy to expand the atomic power supply. The Korea Hydro and Nuclear Power Co. on Friday announced the two candidates, ruling out a third in Uljin, North Gyeongsang Province.Four atomic power plants will be built in each of the two locations after the Ministry of Knowledge Economy completes on-site inspections and environmental surveys by
IndustryDec. 23, 2011
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LGE’s new shares sale seen as success
Hope rises for company to turn around next year on LTE, home appliancesLG Electronics, the world’s No. 3 handset maker, is currently in the process of successfully listing their new shares in the market, raising expectations that the firm may see a turnaround next year.The company said on Friday that the subscription rate in the first stage of its new share selling process ― offering the new shares to its existing stakeholders ― recorded 97.77 percent. The process, which was conducted for two da
IndustryDec. 23, 2011
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IBK Securities likely to acquire Kumho Industrial
A private equity fund of IBK Securities is expected to take over a large portion of Kumho Industrial worth 1 trillion won ($877 million), according to creditors of the Kumho Asiana Group’s unit.On Friday, creditor banks selected IBK Securities, a brokerage unit of the state-run Industrial Bank of Korea, as the preferred bidder for a package of Kumho Asiana’s transportation units.The M&A targets included Kumho Industrial’s 100 percent stake in Kumho Buslines, 38.74 percent in Seoul Express Bus Te
Dec. 23, 2011
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Shares rise 1.07% on U.S. optimism
Korean stocks closed 1.07 percent higher on Friday as upbeat U.S. economic data eclipsed concerns over the eurozone debt crisis, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark KOSPI jumped 19.73 points to 1,867.22. Trading volume was moderate at 459.1 million shares worth 4.25 trillion won ($3.7 billion), with gainers outnumbering decliners 584 to 248.“Positive U.S. job data and consumer sentiment index bolstered hopes on a strengthening U.S. economy and
Dec. 23, 2011
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Ex-BMW official to head design for Hyundai cars
A captured photo from SBS`s TV drama "Secret Garden" (SBS)Hyundai Motor tops German quality report for second consecutive yearHyundai Motor said Friday that former BMW designer Christopher Chapman will lead the carmaker’s global design initiative as chief designer at the Hyundai America Technical Ce
MobilityDec. 23, 2011
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HIV trial is 'breakthough' of 2011
WASHINGTON, Dec 22, 2011 (AFP) - A landmark clinical trial that showed HIV drugs can be as effective as condoms in preventing transmission of the virus that causes AIDS was declared Science magazine's breakthrough of the year on Thursday.Other top achievements of 2011 included a Japanese spacecraft'
TechnologyDec. 23, 2011
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Apple unlikely to win German ban on Samsung Galaxy 10.1N
Dec. 22 (Bloomberg) -- Apple Inc. is unlikely to win a ban on sales of Samsung Electronics Co.’s Galaxy 10.1N tablet computer, a modified version introduced after sales of the original tablet were blocked, a German court said.The Dusseldorf court that banned sales of the Galaxy 10.1 on Sept. 9 is un
TechnologyDec. 23, 2011
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Hyundai’s Chung No. 2 in world auto power list
Hyundai Motor Group chairman Chung Mong-koo was selected as the second-most influential figure in the world’s automotive industry by U.S.-based publication Motor Trend.Last year, Chung ranked fifth on the “power list” named by the auto magazine.Over the past few years, Hyundai Motor and its affiliate Kia Motors have achieved all of the goals Chung set, the magazine said. It also said competitors, including Toyota Motor, Volkswagen, Ford Motor and General Motors, are paying keen attention not to
MobilityDec. 22, 2011
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Samsung expected to record all-time high operating profit in 2012: analysts
Median consensus of analysts forecast 2012 operating profit at near 20 trillion wonSamsung Electronics, the world’s top smartphone maker, is expected to record an all-time high operating profit figure next year, amounting to nearly 20 trillion won ($17.27 billion), analysts said Thursday.The firm’s operating profit in 2012 was forecast to reach 19.98 trillion won, about 28 percent higher than Samsung’s projected operating profit figure of 15.62 trillion won this year, said a median consensus of
IndustryDec. 22, 2011
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Hana Financial to take over two savings banks
Hana Financial Group is expected to take over Jeil 2 Savings Bank and Ace Mutual Savings Bank, beating another bidder Kiwoom Securities, according to government officials.An official of the Korea Deposit Insurance Corp. said Thursday that the state-run agency will unveil the preferred bidder as early as Friday. He added that “there is a high possibility that Hana Financial will be picked.”Jeil 2 Savings Bank, which is headquartered in Seoul, has assets of 503.7 billion won ($441.8 million). Ace
Dec. 22, 2011
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Dutch no-smoking drive on the wane
AMSTERDAM (AP) ― It’s getting surprisingly easy to light up in the Netherlands these days ― cigarettes, that is.Even as the Dutch government hardens its famous tolerance policy on marijuana, it is taking an increasingly relaxed stance toward tobacco, bucking the trend in nearly every other developed country.Last year it exempted some bars from a smoking ban and now it has unveiled plans to reduce spending on anti-smoking advertising campaigns and end funding for health care programs to help peop
TechnologyDec. 22, 2011