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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[KH Explains] No more 'Michael' at Kakao Games
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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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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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POSCO founder in critical condition
POSCO founder Park Tae-joon was in critical condition Tuesday at Severance Hospital in western Seoul after developing an acute lung injury, officials said.Park, 84, underwent an operation to remove one of his lungs and pulmonary pleura on Sunday, the hospital said in a statement. He has been suffering from side effects related to a 2001 surgery in the U.S. for a large tumor. “The surgery results are not very good,” said Han Jin-ho, a hospital spokesperson. “We can’t conclude how long he has left
IndustryDec. 13, 2011
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NTS probes 10 companies over suspected tax evasion
South Korea’s tax agency said Tuesday that it is investigating 10 mid-sized domestic companies on suspicions they evaded taxes in transferring wealth from owners to their children through funds in tax haven countries.According to the National Tax Service, the companies are suspected of evading taxes in the process of wealth transfer by selling shares of their affiliates at well below their market value to the funds that were created under the children’s names.The companies under investigation in
Dec. 13, 2011
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Brokerages lower target share price for Samsung Card over stake sale
Samsung Card Co.’s decision to sell a 17 percent stake in its unlisted affiliate Samsung Everland Inc. to KCC Corp. prompted local brokerages to lower their target share prices for the card firm Tuesday, expressing disappointment over the lower-than-expected final transaction value. In a regulatory filing on Monday, Samsung Card said its board gave the green light to a plan to sell 425,000 shares in Samsung Everland, the de facto holding company of Samsung Group, to KCC, a local maker of constru
Dec. 13, 2011
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Public agencies to hire 44% more in 2012
Public agencies plan to expand graduate hiring by 44 percent next year to help ease youth unemployment and encourage corresponding efforts in the private sector, the Finance Ministry said Tuesday.The ministry said a total of 14,400 new jobs will be created across 285 public agencies next year, up from about 10,000 for this year. It decided to increase jobs set aside for high school graduates from 3.4 percent to 20 percent next year, in a decision to encourage private firms to follow the move.“It
Dec. 13, 2011
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SKT sells first LTE tablet PC
SK Telecom began selling the Galaxy Tab 8.9 LTE by Samsung Electronics on Tuesday, the first tablet PC in Korea running on the fourth-generation long term evolution network service.With the entry of the tablet PC, the nation’s No. 1 telecom operator said it has completed its full line up of devices for LTE service. SK Telecom, which started the faster network service in July, also launched Samsung’s Galaxy Note, which has characteristics of both a smartphone and tablet PC, in November for the fi
IndustryDec. 13, 2011
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Samsung‘s DRAM market share hits record high in Q3
Samsung Electronics Co., the world’s leading memory chipmaker, expanded its portion in the global dynamic random access memory market to a record quarterly high in the third quarter, industry data showed Tuesday. The company accounted for 45 percent of global DRAM revenues in the July-September period, IHS iSuppli said, widening its lead over other suppliers despite the memory industry‘s downturn. While third-quarter global DRAM revenues dropped 16 percent from the previous three months, Samsung
TechnologyDec. 13, 2011
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Biggest-ever promotion at Samsung
More than 500 get vice president-and-higher executive postsSamsung Group announced its biggest-ever year-end promotion of vice presidents on Tuesday, with 501 company executives at its affiliates moving up the ladder.The country’s largest conglomerate completed its management reshuffle by announcing 48 new executive vice presidents, 127 senior vice presidents and 326 vice presidents, even more than the 490 executives promoted last year, its officials said.“We have awarded those who have led in t
IndustryDec. 13, 2011
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Nearly 20% of women quit jobs after marriage
Nearly two out of five married women in South Korea were forced to stop working due to marriage, having children, child education and other family-related obligations, data showed Tuesday.According to the data by Statistics Korea, the number of women who gave up their jobs due to marriage and other family-related reasons came to 1.9 million as of June. That made up 19.3 percent of all married women aged 15-54 here. Of them, 47 percent cited marriage as the major reason why they quit their jobs.
Dec. 13, 2011
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Banks‘ short-term foreign borrowing dips in Nov.
South Korean banks’ short-term overseas borrowing declined in November as Europe‘s debt crisis prompted them to repay foreign debt to brace for the worsening of the turmoil, the financial watchdog said Tuesday.A total of 16 local banks refinanced 95.9 percent of their maturing debt with fresh foreign borrowing last month, down from 108 percent tallied in October, according to the Financial Supervisory Service.A bank’s short-term refinancing rate measures the percentage of its new borrowing again
Dec. 13, 2011
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Korea‘s exports to exceed record $600b in 2012
South Korea’s exports are expected to exceed the $600 billion mark for the first time ever in 2012, thanks mainly to steady demand from developing economies, a local trade organization said Tuesday.The Korea International Trade Association said outbound shipments may reach $600.5 billion with imports hitting $565.5 billion for a trade surplus of $35 billion in the new year compared to a favorable balance of $33 billion estimated for 2011.This translates into the country shipping out an average o
IndustryDec. 13, 2011
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Seo Tae-ji tops celebrity property owners
Singer Seo Tae-ji, one of Korea’s biggest pop culture icons, owned the most expensive building among entertainers here, Chaebul.com found Tuesday. The online portal, devoted to following the activities of rich and large companies, conducted a survey on 28 buildings in Seoul owned by 26 of the most famous celebrities in Korea. With nine of them exceeding 10 billion won ($8.6 million) in value, Seo’s building was the most expensive, worth 29.53 billion won. The 3,729.4 square-meter building, which
IndustryDec. 13, 2011
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LG Chem to set up joint venture with German firm
LG Chem Ltd., South Korea’s leading chemical maker, said Tuesday that it has agreed with a German chemical firm to set up a joint venture in South Korea to produce a cathode material for rechargeable batteries.Under a memorandum of understanding with Sud-Chemie Inc., the joint venture will produce 2,500 tons of lithium iron phosphate cathode material annually from 2014, said LG Chem.LG Chem did not give specifics on the deal, including how much it will spend on the project.Cathode materials are
IndustryDec. 13, 2011
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FP College runs financial camp for graduates
FP College, a private education institution for finance, will hold months-long camps on weekends for those looking to become investment and financial professionals, it said Tuesday.The institution will run customized consulting programs for a group of 20 selected candidates studying to attain financial qualifications such as Associate Financial Planner Korea and Certified Financial Planner. “The 20 students are selected from a pool of about 200 applicants eager to enter the industry. Financial e
Dec. 13, 2011
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GE Korea gets new chief
General Electric Co. said Tuesday it has appointed Chris Khang, a former executive of Cisco Systems Inc., as the new head of its Korean unit.Kang, 50, will orchestrate the U.S. conglomerate’s expansion in the Korean market by crafting growth strategies, fostering synergies between different divisions and upgrading the workforce, culture and operation systems, company officials said.He will take office on Jan. 1.Prior to GE, Kang led Cisco’s Asia Pacific business from 2002. He also held various e
IndustryDec. 13, 2011
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Smoking strongly associated with non-melanoma skin cancers in women: study
Women who smoke are more likely to suffer from skin cancer, a study found, reported Science Daily.According to the study, women who have smoked for 20 years or more are twice likely to suffer from the disease. A woman smokes a cigarette in New York (Bloomberg)Study results showed that cigarette
TechnologyDec. 13, 2011
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Fish may have started walking underwater: study
TechnologyDec. 13, 2011
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Vaccine attacks breast cancer in mice: study
WASHINGTON, Dec 12, 2011 (AFP) - Scientists in the United States said Monday they have developed a vaccine that attacks tumors in mice, abreakthrough they hope will help fight breast, colon, ovarian and pancreatic cancer in humans. (Bloomberg)Although studies on mice often do not translate directly
TechnologyDec. 13, 2011
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Samsung Card to sell 17 pct stake in Everland to KCC
Samsung Card Co. said Monday it has decided to sell a 17 percent stake in its unlisted affiliate Samsung Everland Inc to KCC Corp. for 773.9 billion won (US$674.4 million).Samsung Card said in a regulatory filing that its board has approved a plan to sell 425,000 shares in Samsung Everland, the de f
IndustryDec. 13, 2011
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Korea honors 4 foreigners for boosting exports
The Korean government on Monday awarded 31 people, including four foreigners, for their special contributions in helping Korea boost exports, days after the country logged more than $1 trillion in annual trade for the first time.On top of the list of awardees was Scotsman William John Duncan, a shipbuilding engineer who provided technical assistance to Hyundai Heavy Industries in the 1970s.The late Duncan was awarded the Gold Tower Order of Industrial Service Merit for his contributions to the K
IndustryDec. 12, 2011
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Korea cuts outlook for 2012 economy
GDP outlook for 2012 lowered to 3.7%, inflation projected to ease to 3.2%The government slashed its growth forecast for this year and next, backing off from its ambitious growth plan due to weakening consumption and persistent risk stemming from slumps in major economies, the Finance Ministry said Monday.In a downbeat assessment of Asia’s fourth-largest economy, it said the economy will grow 3.7 percent in 2012, down from its 4.5 percent projection in June, the ministry said in its 2012 econo
Dec. 12, 2011