Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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[Grace Kao, Meera Choi] Has money displaced romance on dates?
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Former state auditor arrested in influence-peddling scandal
A former state auditor and aide to President Lee Myung-bak was arrested Monday on charges of taking bribes from a now-suspended savings bank that was seeking his influence to avoid punishment for extending illegal loans and other irregularities.Eun Jin-soo, who resigned last week as a ranking member of the Board of Audit and Inspection (BAI), is accused of accepting 70 million won ($64,635) in cas
TechnologyMay 30, 2011
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Soldiers under probe for posting pro-Pyongyang messages on Internet
Korean military intelligence officials are investigating seven officers and soldiers for posting pro-Pyongyang messages on an online community that praises North Korea, military officials said Monday.About 70 military personnel were registered as members of the online community, called the "Cyber Command for Defense of Fellow Countrymen," and seven of them posted pro-North Korea messages there, of
TechnologyMay 30, 2011
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3 more pro football players arrested in match-fixing scandal
CHANGWON (Yonhap News) -- Prosecutors in this southern coastal city said Sunday they arrested three pro football players for alleged involvement in a widening game-fixing scandal.The three, all from Daejeon Citizen football club based in the central city of Daejeon, were the latest to be arrested by prosecutors in the probe that began earlier this month. Two other Daejeon Citizen players and two b
TechnologyMay 30, 2011
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Toyota president to visit S. Korea to shore up morale
The chief of Toyota Motor Corp., the world's biggest carmaker, is likely to visit South Korea later this week to shore up support here for the brand, industry sources said Sunday. Akio Toyoda will arrive here around Saturday for his first South Korean trip since becoming president of the company in 2009, the sources said, adding he will meet with Toyota dealers at their shop in Seoul among ot
IndustryMay 29, 2011
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Foreigners’ land ownership up 0.7%
Foreigners’ ownership of South Korean land edged up 0.7 percent in the first quarter from three months earlier, posting a much slower growth rate seen before the recent global financial crisis, the Land Ministry said Sunday.As of the end of March, foreigners owned a combined 225.3 million square kilometers of land, 1.57 million square kilometers more than at the end of 2010, the Ministry of Land,
May 29, 2011
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Airlines set to hike fuel surcharges
Korean airlines are expected to jack up their fuel surcharges on international flights for July and August, but the increase rate will likely slow amid easing fuel prices, officials and industry sources said Sunday.The average price of jet fuel hovered at about $3.16 a gallon on the Singaporean spot market from April to May 28, compared with $3.02 per gallon between February and March, according t
May 29, 2011
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U.S. consumers give 3-D two thumbs up
Almost 90 percent of U.S. consumers have given high ratings to the picture quality of 3-D televisions and did not mind the battery-charged eyewear used to watch the three-dimensional images.Up to 88 percent of some 3,065 3-D-capable set owners who participated in a poll commissioned by The Digital Entertainment Group said last week that they were satisfied with their 3-D home viewing experience an
IndustryMay 29, 2011
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Drug makers fined W3b for illicit rebates
The Fair Trade Commission imposed a combined 3 billion won ($2.78 million) in fines on nine pharmaceutical companies for unfair trade practices, including the provision of illegal rebates to doctors and wholesalers, it said Sunday.The toughest punishment of 753 million won was slapped on Pacific Pharma Corp., for paying kickbacks to doctors in forms of gift cards, golf tours and cash.Those involve
May 29, 2011
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S-Oil Corp. expands petrochemical agent facilities in Ulsan
S-Oil Corp., the country’s third-largest oil refinery, said Sunday its expanded plant for paraxylene and benzene is now in full operation, taking a step forward in cultivating the petrochemical business as a future growth engine. Paraxylene and benzene are aromatic hydrocarbons generated by catalytically reforming naphtha, a petrol derivative. The two substances are key for production of polyester
IndustryMay 29, 2011
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Hyundai E&C seeks edge with aluminum cables
Hyundai Engineering and Construction is looking to boost efficiency and cut costs by using aluminum cables in place of copper ones.According to the company, it has been working with a cable manufacturer to develop aluminum cables for low voltages that meet Korean standards since last year. The company was able secure a source of aluminum cables that passed Korea Electrical Safety Corp.’s safety st
May 29, 2011
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LG aims W50tr to go from smokestack to high-tech
OCHANG/CHEONGJU, North Chungcheong Province ― LG Group’s chemical affiliates is targeting 50 trillion won ($46 billion) in sales by 2016 in a bid to complete the firms’ transition from smokestack to high-tech.The combined sales target of LG Chem, LG Household & Healthcare, LG Hausys and LG Life Sciences would mean double the 24.8 trillion won they raised last year. The growth, LG said, would be dr
IndustryMay 29, 2011
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Hyundai Mobis in world’s top 10 suppliers
Hyundai Mobis, Korea’s leading auto parts maker, was named one of the world’s top 10 suppliers on the back of robust sales, an industry report showed Sunday.According to the report by Detroit-based Automotive News, Mobis was ranked as the eighth-largest parts manufacturers in 2010 in terms of sales, up four notches from the previous year.Its revenue jumped 28.7 percent to $14.43 billion last year
IndustryMay 29, 2011
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Low birthrate to maim Korea’s growth: OECD
A low birthrate and rapidly aging population is projected to pull South Korea’s economic growth rate from second place to ninth among Organization for Economic Cooperation and Development members by 2026.A report by the club of 34 major economies said the annual rate of growth in the South Korean economy will fall to 2.4 percent after 2026, a sharp downturn from its 6.2 percent expansion in 2010,
May 29, 2011
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Seoul shares likely to gain ground this week
The Korean stock market is forecast to maintain its upward momentum this week, but the growth pace may be slow due to lingering concerns about the global recovery, analysts said.The benchmark KOSPI wrapped up last week at 2,100.24, down 0.53 percent from a week earlier.The KOSPI lost ground earlier last week as weaker U.S. economic data and the eurozone debt crisis raised concerns about the global
May 29, 2011
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N.K. trade up 22% in 2010: report
North Korea’s trade volume soared 22 percent in 2010 from a year earlier as the communist state boosted exports of minerals to earn hard currency and increased imports of fuels, mostly oil, a local trade agency said Friday.North Korea’s imports and exports, excluding those with South Korea, jumped 22.3 percent on-year to $4.17 billion last year, according to the state-run Korea Trade-Investment Pr
May 29, 2011
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Business sentiment remains positive for June
Korea’s major companies remain positive about their business conditions for June on expectations of growing exports and improving economic conditions, a poll showed Sunday.The monthly Business Survey Index for the upcoming month came in at 104.3, unchanged from May when the reading turned positive after it dipped to 98.4 the previous month, according to the Federation of Korean Industries, the cou
May 29, 2011
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Listed firms change CEO every 31 months: data
The average term of a chief executive officer at listed firms was 31 months, data showed on Sunday.It was also found that a single firm reseated its CEO an average of 3.7 times over the past 10 years, according to data released by Chaebul.com, a website that provides information on the country’s conglomerates. The survey was conducted on 992 listed firms.A firm that changed its chief executive in
May 29, 2011
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More foreigners take insurance
Top Korean firms see surge in foreign customers here The loan default rate of KoreanThe number of foreigners subscribed to insurance in Korea last year doubled from 2005, mainly due to relaxed application procedures and the rising number of international marriages, industry sources said Sunday.The number of foreigners who have subscribed to insurance offered by the country’s top three insurance fi
May 29, 2011
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Lamborghini to launch new ‘everyday’ model
MobilityMay 29, 2011
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Volkswagen sees new U.S. plant as key to topping Toyota Motor
MobilityMay 29, 2011