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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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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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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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Will China's self-sufficient dream in HBM come true?
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India’s Tata Motors reports flourishing profits, led by JLR
MUMBAI (AFP) ― India’s top vehicle maker Tata Motors on Thursday reported a nearly fourfold increase in annual profit, boosted by booming sales and strong demand for British brands Jaguar and Land Rover.Net profit was 92.7 billion rupees ($2.04 billion) for the year to the end of March 2011, up from 25.7 billion rupees in the previous year, the company said in a statement to the Bombay Stock Excha
MobilityMay 29, 2011
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Jaguar draws customers with unique designs
Jaguar is targeting the Korean market by launching modern sedans and increasing the number of showrooms in major cities here.Its unique and beautiful designs are attracting Korean customers, especially people who want to buy a different type of car.“Many owners of BMW or Mercedes-Benz have replaced their cars with Jaguar models,” a Jaguar-Land Rover Korea spokesman said.“While vehicles of German o
MobilityMay 29, 2011
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Korea, Germany vie to be world’s No. 4 carmaker
Seoul is projected to capture 11% of the world’s auto production market within four yearsKorea has been striving to become one of the world’s four largest automakers, though the nation ranked fifth for six consecutive years between 2005 and 2010.Though Korea grabbed fourth place in the global auto manufacturing ranking in 1997, it suffered difficulties in the wake of the 1997-98 financial crisis.N
MobilityMay 29, 2011
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Coffee drinkers won’t get break on higher prices
Colombia, the second-largest producer of mild arabica coffee bought by companies such as Starbucks Corp. and Nestle SA, said consumers will have to get used to higher prices because of rising demand and reduced supply. Production next year will fall short of consumption, keeping the cost of arabica coffee in a range of $2 to $3 a pound for the next 12 months, according to Colombian National Coffee
IndustryMay 29, 2011
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Biden hails U.S. auto industry rebound
IndustryMay 29, 2011
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10 more savings banks to face probe
Watchdog likely to suspend around three more savings banksFinancial regulators plan to launch fresh investigations into 10 more savings banks that survived the probe earlier this year, brewing another round of major upheaval in the country’s scandal-ridden secondary banking sector.A taskforce of auditors from three state agencies ― Financial Supervisory Service, Financial Services Commission and K
May 29, 2011
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Aussie student finds universe's 'missing mass'
This NASA illustration photo shows stars that are forming in a dwarf starburst galaxy located about 30 million light years from Earth. A 22-year-old Australian university student has solved a problem which has puzzled astrophysicists for decades, discovering part of the so-called "missing mass" of the universe during her summer break. (NASA)SYDNEY (AFP) – A 22-year-old Australian university studen
TechnologyMay 29, 2011
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Staying in style with second-hand shops
Koreans’ love for labels keeps used-goods industry bustlingKim Hae-mi had been more than a little doubtful as to whether it was a good idea to pick out the first Chanel bag of her life from a second-hand store. She recalled how unenthusiastic she was when she made the trip to Myeong-dong, a popular local shopping district in downtown Seoul dotted with the second-hand and consignment shops. But she
IndustryMay 27, 2011
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Samsung SDI takes over battery business
Samsung Electronics Co., the world’s top memory chip maker, will unload its solar battery business to its affiliate Samsung SDI Co. for 160.8 billion won ($147.6 million), the companies said Friday, in an apparent bid to revitalize the team’s disappointing performance, The boards of the two companies each approved the plan, which calls for Samsung Electronics to hand over its solar battery workfor
IndustryMay 27, 2011
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STX supports volunteer projects
STX Group on Thursday selected three social contribution projects devised by employees of subsidiaries that will receive the company’s support.The selected projects each received 1 million won ($925) from the company to be used for funding the activities. STX Corp. president Choo Sung-yob (second from right) poses with winners of volunteer projects. (STX Corp.)The company said that the event took
IndustryMay 27, 2011
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Outbound travelers up 4.7% in first 4 months
The number of Korean travelers going overseas rose 4.7 percent in the first four months of 2011 from a year earlier despite a recent earthquake and tsunami that hit Japan, the top destination for outbound tourists, data showed Friday.According to the data released by the Justice Ministry and the Korea Tourism Organization, the number of Koreans going overseas came to 4.09 million in the January-Ap
IndustryMay 27, 2011
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Foreign investors banned from Woori Financial bidding
Foreign investors have apparently been banned from participating in the coming bidding for Woori Financial Group, the nation’s largest financial company by assets.Financial Services Commission chairman Kim Seok-dong clarified Friday that the authorities will hand over the state-run financial group to a Korean bidder.His remarks came during the FSC’s report to the National Assembly on the financial
May 27, 2011
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Samsung takes first steps on biologics
Venture breaks ground for plant in IncheonSamsung Biologics broke ground for its plant in Incheon on Friday.The company is Samsung Group’s biologics venture established in collaboration with the U.S.-based pharmaceuticals services provider Quintiles Transnational Corp. in April. Samsung Electronics Co. and Samsung Everland Inc. each own a 40 percent stake in the venture, with the remainder divided
IndustryMay 27, 2011
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Google turning mobile phone into a wallet
Google unveiled a free mobile application on Thursday that turns a smartphone into an electronic wallet and is designed to replace plastic credit cards.The Internet giant, at a press conference at its New York headquarters with financial partners Citibank, MasterCard and First Data and telecom ally Sprint, said "Google Wallet" is being field tested and will be available this summer.Google Wallet
TechnologyMay 27, 2011
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S. Korea's current account surplus hits 4-month high in April
South Korea's current account surplus rose to the highest level in four months in April as robust exports overshadowed an increase in dividend payouts by local firms to foreign investors, the central bank said Friday. The current account surplus reached US$1.88 billion in April, up from a revised $1.33 billion the previous month, according to the Bank of Korea (BOK). The current account is the
May 27, 2011
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Oil refineries fined W435b for collusion
The Fair Trade Commission said Thursday that it imposed 434.8 billion won ($402.5 million) in fines on four major oil refineries for anticompetitive practices and referred three of them ― SK Energy, Hyundai Oilbank, and GS Caltex ― to prosecutors for investigation. The corporate watchdog said it found evidence of the four colluding to prevent oil supplies to gas stations held by their competitors,
IndustryMay 26, 2011
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KAIST scientists use laser to inject drugs into brain
South Korean scientists said Thursday that they have developed a way to allow drugs to reach the brain that could lead to a safe and cheap treatment method for various neurological diseases.A Korea Advanced Institute of Science and Technology (KAIST) team led by bio and brain engineering professor Choi Chul-hee said it had used an ultra-high frequency laser to temporarily weaken the “blood-brain b
TechnologyMay 26, 2011
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Siemens taps Kim as Korean unit head
Siemens Korea will next month appoint Kim Jong-kap, former head of Hynix Semiconductor, to become the first Korean chief executive in its 60-year history, the company said on Thursday. Kim Jong-kapKim, 59, was most recently chief of Hynix, the world’s No. 2 memory-chip manufacturer. He completed a three-year term that started in 2007 and is currently head of the board of directors. Prior to Hynix
IndustryMay 26, 2011
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Merck Korea starts childbirth campaign
Merck Korea, the Korean unit of the Germany-based pharmaceutical group, said Thursday it has launched a campaign to promote childbirth in efforts to ratchet up the low birth rate in the country.The “Wishmom” campaign was designed to raise public awareness of infertility and help couples struggling to conceive in partnership with the Korean Society for Reproductive Medicine. Actress Song Sun-mee wi
IndustryMay 26, 2011
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KT to transition to IT convergence group
KT Corp. said Thursday it will make the transition to an information technology convergence group from a telecom service firm, with plans devised to have non-telecom businesses take up 45 percent of overall sales by 2015.The country’s largest fixed-line service operator also announced it targets 40 trillion won ($37 billion) in sales ― 6 trillion won in IT service and media, 8 trillion won in fina
IndustryMay 26, 2011