Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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KEPCO opens electric vehicle charging stations on highway
Korea Electric Power Corp. said Tuesday that it has established electric vehicle charging stations on a highway, a first time for the nation. The six new charging stations are located at rest areas on Jungbu Expressway near Icheon, Eumseong and Ochang ― both northbound and southbound, the firm said. Another was launched at the KEPCO Research Institute in Daejeon. A total of 12 charging machines a
Jan. 25, 2011
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LG CNS to join with Japan’s SBI Group
LG CNS will become the first South Korean firm to forge a cross-border partnership with a Japanese financial company to provide IT services, the Seoul-based company said Tuesday.With Japan’s SBI Group, LG CNS said it would be forming a joint entity called SBI-LG Systems that would handle all of the IT services related to SBI, a top Japanese financial company with assets worth 13 trillion won ($11.
Jan. 25, 2011
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India’s central bank might raise rates
India’s central bank said reducing inflation is the “dominant” goal at the moment, signaling the possibility of an interest-rate increase on Tuesday. “The anti-inflationary focus of monetary policy would have to continue,” the Reserve Bank of India said in a report on Monday. “Since a lower inflation regime is essential for sustainable high growth, containing inflation becomes the dominant policy
Jan. 25, 2011
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Bank of Japan raises growth forecast
Central bank keeps key rate between zero and 0.1%The Bank of Japan raised its growth forecasts for the year through March as strong overseas demand supports the economy. Policy makers predicted an expansion of 3.3 percent for the 2010 fiscal year, compared with the 2.1 percent estimated in October, the central bank said in a statement Tuesday in Tokyo. The BOJ also held the key interest rate betwe
Jan. 25, 2011
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30 groups unveil record-high investment plan
Lee, CEOs agree to cooperate for 5 percent growthThe nation’s 30 largest business groups unveiled plans to invest more than 110 trillion won ($98.2 billion) and create 100,000 new jobs this year during their meeting with President Lee Myung-bak on Monday.Leaders of Samsung, Hyundai Motor and other groups said they would increase their investment to 113.2 trillion won for 2011, which will mark an a
Jan. 24, 2011
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Hiscot offers liquor gift sets for Lunar New Year
Hiscot Co., a subsidiary of Korea’s largest liquor maker Hite-Jinro Group, offers a range of gift sets for the Feb. 3 Lunar New Year’s day, the firm said Monday.“This year’s New Year gift sets were prepared for consumers who look for practical gifts. A variety of quality gift sets will be offered at affordable prices for consumers to choose from,” Hiscot executive director Jang Byeong-seon said. T
Jan. 24, 2011
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KT&G renews Esse Golden Leaf design
KT&G Corp., Korea’s largest tobacco manufacturer, will roll out a repackaged version of its Esse Golden Leaf product at the end of January, the firm said Monday. The cigarette packaging was created in collaboration with Najeonchilgi master Park Jae-seong, the firm said. Najeonchilgi is a traditional mother of pearl craft where colorful pieces of shellfish are inlaid on an object and then applied w
Jan. 24, 2011
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KB Asset wins nod for investment in China
HONG KONG (Yonhap News) ― Korea’s KB Asset Management Co. said Monday it has obtained approval from Chinese authorities to invest up to $100 million in local securities, gaining greater access to one of the world’s most rapidly growing stock markets.The approval, granted by China’s State Administration of Foreign Exchange (SAFE) last week, will allow KB Asset Management to launch a collective inve
Jan. 24, 2011
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Companies splurging on iPads could be sign of recovery
NEW YORK (AP) ― The news last week that Apple’s Steve Jobs is taking a leave of absence was a big story. But something else about the company got far less attention and could be even more important to investors this year.Corporations “are adding iPads to their approved device list at an amazing rate,” Peter Oppenheimer, Apple Inc.’s chief financial officer, told analysts Tuesday. Apple’s products,
Jan. 24, 2011
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GS head stresses innovation, collaboration
GS Group chairman Huh Chang-soo recently stressed executives’ dedication to growth and innovation as key to its ambition to become a leading global firm. Despite the good results the group has been achieving over the past few years in an unfavorable local business environment, Huh said the group should not be satisfied with its performance. GS Group chairman Huh Chang-soo “Based on the performance
Jan. 24, 2011
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SKT introduces multi-gadget content platform
SK Telecom, the nation’s No. 1 telecom operator, launched on Monday a “numerous screen” (n-Screen) platform that allows users to access the same content from multiple devices based on cloud computing technology. The “hoppin” service allows subscribers to use media content in its server on smartphones, computers, tablet PCs and televisions through a Wi-Fi network with a one-time payment. For instan
Jan. 24, 2011
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Yuhan-Kimberly exports top W230 billion
Yuhan-Kimberly, Korea’s leading hygiene products manufacturer, said its exports increased 28.7 percent to 237.6 billion won ($211.8 million) last year, thanks to strong sales of its diapers and feminine sanitary pads.Shipments to China, Russia and Turkey accounted for 63 percent, the company said. Products like diapers, sanitary pads and paper towels make up 82 percent.“Such items could succeed in
Jan. 24, 2011
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Citi picks Korea, Taiwan stocks amid inflation
Citigroup Inc. recommended stocks in Korea, Taiwan and Hong Kong as manufacturing companies gain in an inflationary environment amid global economic growth.“Higher inflation and higher rates benefit growth- sensitive markets, such as Korea and Taiwan and general asset plays like Hong Kong,” according to a report by Citigroup analysts led by Markus Rosgen. “Inflation shifts profits from consumption
Jan. 24, 2011
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Kia aims to dominate city car market
No. 2 carmaker releases new Morning with upgraded safety, convenience featuresJEJU ― Kia Motors Corp. launched the latest version of its Morning city car on the local market Monday.The company aims to sell 100,000 units on the domestic market and 120,000 units overseas this year.From next year, the company hopes to raise the overseas figure by 20,000, pushing up the overall sales figure to 240,000
Jan. 24, 2011
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Apollo-led group bidding for Sara Lee
Sara Lee Corp. received a takeover bid from Apollo Global Management LLC, Bain Capital LLC and TPG Capital that is higher than the food company’s current share price of $18.70, said three people with knowledge of the matter. The offer gets close to the $20 a share that Sara Lee’s board is seeking, said one of the people, who declined to be identified because the process is private. JBS SA, the Bra
Jan. 24, 2011
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Australia producer prices rise in Q4
Prices paid to Australian producers rose less than forecast in the fourth quarter, recording the smallest increase in a year as a stronger currency lowered the cost of imports. The producer prices index advanced 0.1 percent in the October-December period from the prior quarter, when it gained 1.3 percent, the Bureau of Statistics said in Sydney Monday. The median estimate of 19 economists surveyed
Jan. 24, 2011
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SK Telecom to unveil smartphone-cum-set-top box
South Korea's largest mobile carrier SK Telecom Co. said Monday that it will release a smartphone that can also serve as a set-top box, playing content on personal computers, tablet PCs and TVs. The smartphone named "Galaxy S hopping," made by Samsung Electronics Co., will hit shelves in the local market this week, SK Telecom said in a statement. The new phone represents the company's effor
Jan. 24, 2011
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Samsung Heavy develops system to fend off pirates
Samsung Heavy Industries announced Sunday that it has developed a high-tech anti-pirate system providing enhanced security for ships sailing through danger zones.The system includes remotely controlled water cannons, night vision and an advanced radar system.The shipbuilder said the system will be fitted as standard equipment in all ships built at its yard in Geoje, South Gyeongsang Province.The n
Jan. 23, 2011
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Korean iPhone users hit 2m
Apple has something to celebrate despite its CEO Steve Jobs’ medical leave. The number of iPhone users in South Korea reached 2 million and Apple pulled off more than 10 billion app downloads at its App Store worldwide. KT, the sole service provider for Apple’s iPhone and iPad, said it has signed up 2 million iPhone users in a little more than a year after its debut, marking a fresh milestone for
Jan. 23, 2011
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Kia’s global share hits record
Kia Motors Corp. saw its global market share come to 2.9 percent, the highest ever for the company, in 2010, industry data showed Sunday.According to the carmaker, it sold about 2.09 million units ― about 485,000 units domestically and 1.605 million units overseas ― in 2010. Comparing the figure to the world market volume of 71.35 million units calculated by J.D. Power and Associates, Kia’s global
Jan. 23, 2011