Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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Samsung wins patent war for tablet PC in Australia
Samsung Electronics will be rolling out its Galaxy Tab 10.1 in Australia in time for the holiday season as its High Court rejected Apple’s request on Friday to extend the sales ban on Samsung’s tablet PCs.The three-judge High Court panel said that Apple failed to convince them that the firm could win on appeal and denied the company a hearing, according to news reports. Chief Justice Robert French, representing the panel, supported the decision reached earlier by the Federation Court to overturn
IndustryDec. 9, 2011
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FSS chief stresses fair audit, accounting transparency
The nation’s top financial regulator on Friday urged accounting firms to commit to a rigorous audit of troubled savings banks to uproot accounting fraud.Financial Supervisory Service Gov. Kwon Hyouk-se pinpointed the lack of transparency in financial reports in the industry at a breakfast meeting with chiefs of the industry’s 13 biggest accounting firms.“Transparency is an essential element in a trusted relationship between banks and the public, and demand for honest reporting is growing,” Kwon
Dec. 9, 2011
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Many brokerage houses to get new CEOs in 2012
More than half of securities company chiefs in Korea are about see the end of their terms, signaling a wave of management changes in the brokerage industry.According to the Korea Financial Investment Association, 29 out of 49 securities firms will see their tenures end next year.In particular, most of the 10 major securities firms are affected. Samsung Securities replaced its CEO on Dec. 7.The current figures include Daewoo Securities CEO Im Kee-young, Woori Investment and Securities CEO Hwang S
Dec. 9, 2011
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Producer price growth hits 1-year low in Nov.
South Korea’s producer prices grew at the slowest clip in one year in November as prices of vegetables and fruits fell sharply, the central bank said Friday.The producer price index, a barometer of future consumer inflation, rose 5.1 percent in November from a year earlier, cooling from a 5.6 percent on-year gain in October, according to the Bank of Korea.Last month‘s data marked the slowest gain since a 4.9 percent gain tallied in November 2010, it added.Compared with the previous month, produc
Dec. 9, 2011
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Samsung permitted to roll out Galaxy Tab in Australia
Samsung wins legal battle in Australia, but fails to ban sales of iPhone 4S in FranceSamsung Electronics will be rolling out its Galaxy Tab 10.1 in Australia in time for the holiday season as its High Court rejected Apple’s request on Friday to extend the sales ban on Samsung’s tablet PCs.The three-judge High Court panel said that Apple failed to convince them that the firm could win on appeal and denied the company a hearing, according to news reports. Chief Justice Robert French, representing
IndustryDec. 9, 2011
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BOK cuts 2012 growth forecast to 3.7 percent
The Bank of Korea on Friday dimmed the country’s growth forecast for next year to 3.7 percent, down from its earlier estimate of 4.6 percent, citing uncertainty from Europe’s debt situation as lingering risks for the export-reliant economy.The downward revision narrowed gaps in the mid- to-high 3 percent range at private think tanks, in a sign that Asia’s fourth largest economy will grow at a slower pace than this year under sluggish global trade sentiment and weak domestic demand.The central ba
Dec. 9, 2011
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Hyundai, Kia top Russian car market
1.6-liter Gamma engine selected for the ‘Best 10 Engines’ list by U.S. auto mediaHyundai Motor and its affiliate Kia Motors became the No. 1 and No. 2 foreign carmakers, respectively, in Russian markets in November, according to industrial data.Hyundai posted sales of 17,283 units in Russia last month, maintaining the No. 1 position for the third consecutive month, according to the Association of European Businesses.Kia ranked second with sales of 15,115 units, overtaking GM Chevrolet with sales
Dec. 9, 2011
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FTC deliberating Google’s merger deal with Motorola
Korea’s antitrust regulator said Friday that it had launched a deliberation on U.S. search giant Google’s recent acquisition of Motorola Mobility, to decide whether the merger would undermine market competition. The California-based company filed on Tuesday for Korean clearance to complete the $12.5 billion deal announced in August, according to the Fair Trade Commission. “The purchase is expected to affect the nation’s smartphone market, including local handset makers Samsung and LG,” said Lee
IndustryDec. 9, 2011
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Shares sink 1.97% on eurozone fears
South Korean stocks fell 1.97 percent on Friday as investor sentiment was dampened by uncertainties over the eurozone debt crisis and a grim economic growth forecast, analysts said. The local currency declined against the U.S. dollar.The benchmark KOSPI lost 37.64 points to 1,874.75, sinking below the 1,900 point level for the first time since it finished at 1,847.51 on Nov. 30. Trading volume was moderate at 367.9 million shares worth 5.07 trillion won ($4.42 billion) with losers leading gainer
Dec. 9, 2011
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Drug combo boosts breast cancer survival: study
Postmenopausal women with a common type of breast cancer that thrives on estrogen survived longer when treated with a combination of two drugs rather than just one, a US study said Wednesday.The results of the phase III trial, released at a meeting of breast cancer experts in San Antonio, Texas, sho
TechnologyDec. 9, 2011
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Study links tropical cyclones to earthquakes
US researchers said Thursday they have found evidence that tropical cyclones in Haiti and Taiwan were followed by earthquakes, suggesting that heavy rains and landslides may unleash temblors."Very wet rain events are the trigger," said University of Miami scientist Shimon Wdowinski, an associate res
TechnologyDec. 9, 2011
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Study shows rats nice, not naughty
WASHINGTON (AP) _ New experiments show rats demonstrating compassion and helping other rodents. It is a trait some scientists thought was reserved only for humans and higher primates.And it is certainly not the sneaky, selfish rap that goes with calling someone a dirty rat.In repeated tests, rats fr
TechnologyDec. 9, 2011
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Samsung permitted to roll out Galaxy Tab in Australia
Samsung wins legal battle in Australia, but fails to ban sales of iPhone 4S in FranceSamsung Electronics will be rolling out its Galaxy Tab 10.1 in Australia in time for the holiday season as its High Court rejected Apple’s request on Friday to extend the sales ban on Samsung’s tablet PCs.The three-
IndustryDec. 9, 2011
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KT’s LTE network faces hurdle
The high-speed fourth-generation network service appears to be literally a “long-term evolution” for KT Corp., the nation’s No. 2 telecom carrier. KT was scheduled to halt its second-generation mobile service and to announce the beginning of the long-awaited LTE service at a press conference on Thursday. A Seoul court, however, scuppered KT’s plan on Wednesday, saying “Irreversible damages are expected to the remaining 2G users.”Under a plan to start the faster LTE service in the 1.8 GHz band th
IndustryDec. 8, 2011
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Korea, China, Japan to hold final FTA study meet
South Korea, China and Japan will hold their final joint study meeting next week on the feasibility of a free trade agreement between the three Northeast Asian countries, the Trade Ministry in Seoul said Thursday.The meeting, the seventh of its kind, will be held in Pyeongchang, some 180 kilometers east of Seoul, from Wednesday to Friday, according to the ministry. During the meeting, the three nations will discuss a draft covering commodities trade and other issues, such as service and investme
IndustryDec. 8, 2011
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Seoul, Tokyo stock exchanges to start cross-trading next year
Korea’s stock market operator said Thursday it has signed a preliminary agreement with its Japanese counterpart to begin cross-trading of listed stocks as early as next year, a move that is expected to speed up trading time and lower costs for investors in both countries.Through the deal, the Korea Exchange and Tokyo Stock Exchange will push for cross-trading between the bourses in addition to the listing of exchange-traded fund and derivatives products, the KRX said in a press conference.A cros
Dec. 8, 2011
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Samsung sees record sales of flat-screen TVs
Samsung Electronics Co., the world’s largest TV supplier, said Thursday it set a new record in monthly flat-screen TV sales in November, thanks to a demand spike during the holiday season in the United States. The company sold 5.7 million units of TVs in global markets last month, it said in a statement.The monthly sales record was largely driven by robust demand in the United States during the Thanksgiving holidays, Samsung said. The company saw more than a 40 percent surge in TV sales on Black
IndustryDec. 8, 2011
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Conglomerates expect exports to drop in 2012
South Korean conglomerates expect export conditions to worsen in 2012 mainly due to eurozone debt woes and a U.S. economic slowdown, a poll showed Thursday.The Federation of Korean Industries survey showed that of 22 major businesses polled, 15, or 68.2 percent, expected next year’s export environment to be less favorable than in 2011.The data also showed that 63.6 percent of the conglomerates, including Samsung, Hyundai Motor Co., LG and SK, are bracing for financing-related difficulties in the
Dec. 8, 2011
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SK Group eyes new Chinese oil refinery
HONG KONG (Yonhap News) ― South Korea’s SK Group is considering starting an oil refinery project in southern China, officials said Thursday, a move that would expand the company’s business in the world’s No. 2 economy.The city of Qinzhou is a potential site of the project, and located near the Pearl River Delta, the main hub of China’s economic growth. The city also established a Free Trade Port Area, which was approved by the State Council in May 2008 as a state-level free trade port area. The
IndustryDec. 8, 2011
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Yuhan-Kimberly, a model of joint venture success
Company leads innovation and fosters human resourcesAt a crowded hypermarket in Beijing, the shelves for diapers are filled with Huggies products.Even though their maker Kimberly-Clark has a Chinese branch, all the premium diapers sold in China are produced by Korea-based Yuhan-Kimberly at its Daejeon factory, some 160 kilometers south of Seoul. Yuhan-Kimberly is a joint venture established in 1970 between Korean company Yuhan Corp. and U.S.-based Kimberly-Clark Corp., that entered China’s premi
IndustryDec. 8, 2011