Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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Medical profs at top hospitals suspend surgeries, clinics
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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Police to open alleged stalking probe over pastor over Dior bag scandal
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Roubini sees spread of EU debt crisis as key 2011 risk
Nouriel Roubini, the New York University economist who predicted the global financial crisis, said a key risk to the world economy in 2011 is the likely spread of Europe’s debt crisis. “One of the most important risks is financial contagion in Europe if the euro zone’s problems spread, as seems likely, to Portugal, Spain and Belgium,” Roubini wrote in an article in the Australian Financial Review
Jan. 18, 2011
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Foreign investment in China rises to record
Foreign direct investment in China rose to a record $105.7 billion last year, underscoring confidence that rising incomes will boost demand in the world’s fastest-growing major economy. Investment climbed 17.4 percent from a year earlier, the Ministry of Commerce said in a statement in Beijing to Tuesday. Spending in December rose 15.6 percent from a year earlier to $14 billion. Estimates of five
Jan. 18, 2011
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Singapore’s export growth slowed in Dec.
Singapore’s exports rose at a slower pace in December, ending a year in which shipments jumped the most since 2003 as the global economic recovery boosted demand for the island’s goods. Non-oil domestic exports climbed 9.4 percent from a year earlier, after a revised 9.9 percent gain in November, the trade promotion agency said in a statement in Singapore Monday. The median forecast of 14 economis
Jan. 18, 2011
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Ssangyong to build mall in Singapore
Ssangyong Engineering & Construction has won a 35 billion won ($31 million) deal to build a premium shopping center in Singapore, the latest boost to its growing presence in one of Asia’s hottest construction markets.The builder signed the contract with City Development Ltd., the largest property developer of Singapore, on Thursday. Ssangyong will design and construct a two-story luxury mall with
Jan. 18, 2011
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Apple CEO Steve Jobs takes medical leave
SEATTLE _ Apple Inc. CEO Steve Jobs, the charismatic frontman for the company that overturned the smart phone industry and invented a new category of tablet computers, is taking a second medical leave of absence in two years.In the last decade, Jobs, 55, has survived a rare but curable form of pancreatic cancer and undergone a liver transplant. The news that he will again step down from his day-to
Jan. 18, 2011
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GS Caltex closes plant on power outage
GS Caltex Co., Korea‘s second-largest refiner, said Monday that it had shut down all of its crude distillation units and its No.1 residue fluid catalytic cracker in the southern part of the country due to power failure. Power at the Yeosu complex was cut off at 4:10 p.m. local time and resumed 23 minutes later, according to the official“The affected facilities could not restart within today, thoug
Jan. 17, 2011
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Korean firms aim for further gains at Detroit Motor Show
DETROIT (AFP) ― Korean automakers Hyundai and Kia made a strong showing at this year’s Detroit auto show, turning heads with new models and vowing to build on last year’s gains.Both Kia and Hyundai ― which share manufacturing and engineering facilities but sell their vehicles separately in the U.S.― are looking for more growth this year after setting sales records in 2010, with Hyundai having fini
Jan. 17, 2011
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Russian company builds Web empire at home and abroad
MOSCOW (AFP) ― It is a company with a stake in Facebook, the leading position in one of the world’s fastest-growing Internet markets and a listing on the London Stock Exchange.But this is not a firm from Silicon Valley or a high-tech Asian economy. It is from Russia, in recent years not a place known for cutting-edge corporate innovation.While President Dmitry Medvedev ploughs on with his state-sp
Jan. 17, 2011
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State R&D chief to speak at CeBIT
Hwang Chang-gyu, head of Ministry of Knowledge Economy’s Strategic R&D Planning office, has been chosen as one of the three speakers for a conference to be held during German IT exhibition CeBIT from March 1 to 5, the organizers of the event said Monday. Hwang Chang-gyuThe former Samsung Electronics chief, who was appointed to the government post early last year, is the first Korean to give a spee
Jan. 17, 2011
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Hyundai Mobis eyes spot in top 10 car parts makers
Hyundai Mobis Co. plans to invest 1.15 trillion won ($1.02 billion) this year aiming to become one of the world’s 10 largest auto parts makers, the company said on Monday.The company affiliated with Hyundai Motor Group will earmark 360 billion won for research and development for high-tech systems this year.It will diversify its R&D personnel to include more engineers specializing in information t
Jan. 17, 2011
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Telecoms bet on cloud computing
Local carriers look to take share of global market expected to reach $44.2b in 2013Korea’s telecom carriers are jumping on the cloud computing market to meet growing demand for software, platform and data storage in service. SK Telecom Co., Korea’s top wireless carrier, said Monday it will open a cloud service center that will allow small and mid-sized firms to use high-capacity computing resource
Jan. 17, 2011
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Global forum seeks to promote clean energy
World Future Energy Summit opens in Abu DhabiABU DHABI ― Ministers and industry experts from around the world gathered in the capital of the United Arab Emirates to discuss ways to promote the use of clean energy for sustainable growth. The 4th annual World Future Energy Summit kicked off Monday hosted by Abu Dhabi-based power company Masdar, wholly owned by the state-run Mubadala Development Comp
Jan. 17, 2011
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Korean Air to start A380 flights in June
Korean Air said Monday it would take delivery of five Airbus A380 superjumbos this year, with the first flight scheduled for June.The Korean flag carrier said the A380 service between Incheon International Airport and Tokyo’s Narita would start on the morning of June 1, with the plane departing for Hong Kong once it returns from Narita.It said in a statement the service would be expanded to Bangko
Jan. 17, 2011
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Hyundai Motor scales down target share of domestic auto market
Hyundai Motor Co. aims to boost its domestic market share to 47 percent this year with its upgraded vehicles lineup, the company said Sunday. The country’s top automaker took 45.2 percent of the Korean market in 2010, falling short of its 52 percent target for the year and the 50.7 percent it secured in 2009. In contrast to a strong overseas performance, Hyundai’s domestic sales in 2010 fell 6.1 p
Jan. 16, 2011
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LG bets on leadership to stay ahead
LG Group plans to foster strong leadership among younger employees to fulfill the growing need to secure new human resources and a new organization to stay ahead of the markets, the company said Sunday. “People and their organization must first change if they are to persistently face challenges to lead the markets,” LG Group chairman Koo Bon-moo was quoted as saying. Koo said LG will select 500 em
Jan. 16, 2011
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Oilbank launches new refining facility
Hyundai Oilbank Co. has recently completed the construction of its second heavy oil upgrading plant as local refineries are racing to get an edge in the high value-added market.The country’s smallest refiner said on Sunday the new facility located in Daesan, South Chungcheong Province, will enter full operation in mid-May after a four-month test run. The company has invested 2.6 trillion won ($2.3
Jan. 16, 2011
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Korea steps up restructuring of savings banks
Financial authorities are quickening their moves to restructure savings banks struggling with growing bad debts to prevent their troubles from destabilizing the broader financial system.The state-run Korea Asset Management Corp. said on Saturday it will conduct a sweeping investigation into all construction-related project financing schemes involving domestic savings banks. Sources said the Financ
Jan. 16, 2011
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U.S. automakers draw big crowds
DETROIT (AP) ― Sharp designs with pizzazz, power and elegance helped pull in crowds during the public opening Saturday of the North American International Auto Show, with U.S automakers doing their best to impress consumers looking for signs of the industry’s recovery.Thousands of people from around the world filed from exhibit to exhibit inside the sprawling Cobo Center in Detroit. They perused t
Jan. 16, 2011
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News Corp.'s launch of iPad newspaper is delayed
(News Corp. and iPad maker Apple Inc. have decided to delay the launch of The Daily.)NEW YORK (AP) _ News Corp. is pushing back the launch of the world's first iPad-only newspaper.The company declined to comment on why. But a person familiar with the matter, who spoke on condition of anonymity because the person was not authorized to disclose details, said Friday that News Corp. and iPad maker A
Jan. 16, 2011
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Refiners wary of political pressure to cut oil prices
Following Lee comments, officials move to rein in petroleum pricesThe presidential office and the antitrust regulatory body are poised to turn up the heat on major oil refiners in a drive to tame inflationary pressures.President Lee Myung-bak said Thursday that the prices of petroleum products need to be “carefully analyzed” to determine whether they are at “reasonable levels.”In addition, the Fai
Jan. 14, 2011