Most Popular
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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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[KH Explains] No more 'Michael' at Kakao Games
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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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Samsung chief bolsters ties with Germany’s Zeiss
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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KT launches new mobile plans for foreign residents
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Manufacturing sentiment drops to more than 2-year low
South Korean manufacturers’ business confidence for November fell to an over 2-year low as dimmer global economic prospects heightened uncertainty, the central bank said Monday.The index of manufacturers’ outlook on business conditions reached 82 for November, down from 86 tallied for October, according to the Bank of Korea. The index measures manufacturers’ expectations for the coming month.The November outlook marked the lowest level since the index came in at 80 for August 2009.A reading belo
Oct. 31, 2011
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Credit card spending jumps in first half
Proportion of credit card purchases to household spending surpasses 60%Korea’s credit card spending jumped nearly 10 percent on-year to 261.7 trillion won ($237.5 billion) in the first half of this year, data showed Monday, amid concerns that a credit card bubble might be in the offing again. The latest data from credit card companies suggests that the total spending through plastic would top 500 trillion won by year-end. The figure was 493.8 trillion won last year, and 622 trillion won in 2002,
Oct. 31, 2011
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Minister rebuffs DP’s claims on ISD
Renegotiating the Korea-U.S. Free Trade Agreement is impossible and the investor-state dispute or ISD settlement clause is a long-standing international practice, Trade Minister Kim Jong-hoon said Monday, rejecting the opposition parties’ call for the clause to be removed from the accord.Speaking on a local radio station, Kim said Korea has been including ISD settlement clauses in agreements with other nations since 1976 and that the clause has not proved damaging to Korea since.The “ISD clause
Oct. 31, 2011
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Hyundai, Kia No. 2 in China
Hyundai Motor and its affiliate Kia Motors ranked No. 2 in sales of small vehicles in China during the first nine months of 2011, automotive data showed.It said the two carmakers saw their ranking climb by four notches on a year-on-year basis by grabbing 10.9 percent of the Chinese market. They placed sixth during the same period last year.The data showed that Hyundai-Kia sold a combined 162,472 units in the compact car segment between January and September.The companies saw their sales jump 52.
MobilityOct. 31, 2011
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Korean innovation more than ‘fast following’: GfK
Research firm expands operations here with new custom unitOver the last couple years Korea Inc. has been caught up in a fierce debate over its capability to spearhead the kaleidoscopic global market for technology rather than remain a copycat.While going-global firms such as Samsung, LG and Hyundai Motor enjoy their ever-expanding clout across continents, vocal critics including Ahn Cheol-soo pointed to their fundamental lack of innovation and creativity that give birth to products that customer
IndustryOct. 31, 2011
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Samsung to pursue bold M&A
Tech giant vice chairman urges workers to be daring, open-mindedSamsung Electronics vice chairman Choi Gee-sung said Monday that the company must proceed with bold mergers for new growth engines, concentrating on fresh projects such as health care.In a ceremony organized to celebrate its 42nd anniversary, Choi urged its employees to open up to voices and resources within and outside of the company. He also suggested they need a daring mind for challenges that go beyond stereotypes.“Let’s harness
IndustryOct. 31, 2011
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Seoul shares drop 1.06 percent on institutional profit-taking
South Korean stocks finished 1.06 percent lower Monday as institutional investors reduced shares in banks and manufacturers after their gains last week, analysts said.The local currency fell against the U.S. dollar. Snapping a three-day winning streak, the benchmark KOSPI lost 20.45 points to 1,909.03.Trading volume was moderate at 387 million shares worth 6.3 trillion won ($5.71 billion) with losers leading gainers 535 to 291. “Investors locked in profit after short-term surges,” said Lee Jae-m
Oct. 31, 2011
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SK fined for ownership of financial unit
The Fair Trade Commission said Monday that it has imposed 5.08 billion won ($4.59 million) in fines on SK Group for violating a law banning a holding company from possessing a financial unit. Under the current antitrust law, a holding company with 100 billion won or more in assets is not allowed to own a financial affiliate. When SK turned into a holding company in March 2007, the group’s trading arm SK Networks should have dumped its 22.7 percent share of SK Securities, its “daughter company.”
IndustryOct. 31, 2011
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Government unveils measures to support renewable energy industry
South Korea announced a package of measures Monday to support the renewable energy industry, pledging to expand export financing for companies, boost investment in research and development and relax regulations.The Presidential Committee on Green Growth unveiled the measures during a meeting presided over by President Lee Myung-bak, saying South Korea should increase government support for the sector to strengthen its position in the global renewable energy industry.Under the plan, the governmen
Oct. 31, 2011
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Brokerages under pressure to cut fees
Financial authorities are considering instructing securities firms to slash service fees, including those on transactions for stocks and equity funds.Over the past five years, the local brokerage sector has enjoyed huge gains ranging between 6 trillion won ($5.2 billion) and 9 trillion won per annum by charging financial consumers a variety of fees.“We plan to review the service charge structure of the overall brokerage sector. Then, we will map out guidelines (to cut the fees),” said an officia
Oct. 31, 2011
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Ssangyong E&C creates Singapore’s new symbol
Ssangyong Engineering & Construction would like to express deep gratitude to the judging committee and officials at The Korea Herald for this award.Commemorating the 34th anniversary of its establishment, Ssangyong is the No. 1 builder in terms of overseas premium construction, having built structures including the Raffles City Complex, the tallest hotel in the world as recorded in the Guinness Book of World Records; the Jumeirah Emirates Tower and Grand Hyatt Dubai, two of Dubai’s top three hot
IndustryOct. 31, 2011
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SNU researchers transplant pig’s pancreas to monkey
A group of doctors here has successfully transplanted parts of a pig’s pancreas to a monkey, opening the way for new treatments for diabetes in people.Professor Park Sung-heo of Seoul National University College of Medicine and his team said Monday they transplanted the islets of Langerhans, a region of the pancreas, of a number of pigs to eight monkeys, of which four have survived for more than six months without complications. “It is rare even among the same species to experience no noticeable
Social AffairsOct. 31, 2011
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‘Angry Birds’ creator will open its first retail stores in China this year
Rovio Entertainment Oy, the creator of the “Angry Birds” mobile-phone games, will open its first retail stores this year in China, its fastest-growing market. The company aims to hit $100 million in retail sales in China in the first year of store operations, Chief Marketing Officer Peter Vesterback
IndustryOct. 31, 2011
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Korean TV makers nab 50 pct of U.S. market share
SEOUL, Oct. 31 (Yonhap) -- Samsung Electronics Co. and LG Electronics Inc. clinched a combined 50 percent share of the U.S. TV market in the July-September period, an industry report showed Monday, thanks to strong demand for their premium TVs with 3D features and Web connectivity. It marked t
TechnologyOct. 31, 2011
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Heavy drinking tied to higher stomach cancer risk
TechnologyOct. 31, 2011
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Skeptic finds he now agrees global warming is real
WASHINGTON (AP) -- A prominent physicist and skeptic of global warming spent two years trying to find out if mainstream climate scientists were wrong. In the end, he determined they were right: Temperatures really are rising rapidly.The study of the world's surface temperatures by Richard Muller was
TechnologyOct. 31, 2011
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Credit card spending up 10 percent in H1
SEOUL, Oct. 31 (Yonhap) -- South Korea's credit card spending increased nearly 10 percent in the first half of this year from a year earlier, data showed Monday, raising concerns over a possible recurrence of a credit card bubble.Credit card spending by South Koreans reached 261.7 trillion won ($237
Oct. 31, 2011
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S. Korea's industrial output grows 6.8 percent in Sept.
SEOUL, Oct. 31 (Yonhap) -- South Korea's industrial output continued to grow in September from a year earlier, despite persistent uncertainties in the global economy, a government report showed Monday.According to the report by Statistics Korea, production in the mining and manufacturing industries
IndustryOct. 31, 2011
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Number of smartphone users tops 20m
The number of smartphone subscribers in South Korea surpassed the 20 million mark last week, with nearly 40 percent of South Korean residents carrying such mobile devices, according to data from the country’s telecom regulator released Sunday. South Korean smartphone subscribers numbered slightly more than 20 million as of Friday, including 10 million users with industry leader SK Telecom Co., 6.8 million at KT Corp. and 3.3 million at LG Uplus Corp., the data compiled by the Korea Communication
IndustryOct. 30, 2011
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Korea mulls hiking highway, train fares
South Korea will likely raise highway and train service fares by the end of this year following years of unchanged rates aimed at curbing inflation, a source said Friday.The finance ministry and the transportation ministry are currently in the last phase of talks to determine when and by how much they will increase fares for the two major means of transportation, he said.Highway fares will likely increase by less than 3 percent, while those for trains will go up about 3 percent. The hike is expe
Oct. 30, 2011