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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Jung's paternity reveal exposes where Korea stands on extramarital babies
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Samsung entangled in legal risks amid calls for drastic reform
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Opposition chief acquitted of instigating perjury
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[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
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Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
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[Health and care] Getting cancer young: Why cancer isn’t just an older person’s battle
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Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push

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Start your day with a roundup of key stories from The Korea Herald with news and comment on all that’s happening in Korea.

Korea to increase number of cheaper gas stations
South Korea will open more “bargain” gas stations in 2012 as part of efforts to ease the pain of ordinary citizens from heavy energy costs, the Finance Ministry said Wednesday.The bargain gas stations, which were launched in December, usually receive their fuel from state-run agencies at cheaper prices than other existing gas stations. The government plans to increase the number from 369 to 430 by the end of March.In a related move, the government will also unveil a comprehensive package of meas

Feb. 29, 2012
Intel makes more mobile inroads with new phones
SAN JOSE, California ― Further demonstrating its resolve to expand beyond the personal computer market, Intel Corp. on Monday announced that three more new smartphones incorporating its microprocessors will be introduced in other countries this year.The smartphone makers are Orange, Lava International and ZTE. Intel CEO Paul Otellini, who made the announcement at the Mobile World Congress in Barcelona, Spain, said more smartphones containing Intel’s brainy chips will be unveiled in the next year

TechnologyFeb. 29, 2012
KT mobile chief focuses on service quality
BARCELONA, Spain ― Pyo Hyun-myung, president of the mobile business unit at KT Corp., said Tuesday that the company would not compete with other telecom carriers to be the first to offer voice calls on the Long Term Evolution network. “Goals like starting the voice-over-LTE within the year are more like rhetoric from the perspective of service providers. What’s more important is the service quality regardless of whether it’s 3G or 4G,” he told reporters at the Mobile World Congress being held in

IndustryFeb. 29, 2012
Samsung vows to stamp out collusion
Amid simmering criticism over collusion and price fixing among industry giants, Samsung on Wednesday mapped out a set of measures to head off the rampant illicit practices within Korea’s largest conglomerate.The package, a follow-up to its November program, is aimed at establishing “systemic safeguards against any temptations to collude in tough business environments,” Samsung Group said in a statement. Under the plan, the company will conduct regular monitoring on all affiliates, expand its e-m

IndustryFeb. 29, 2012
Livestock farmers to get cash subsidies over FTA
Livestock and dairy farmers who are hurt by free trade pacts will be eligible to receive direct cash assistance from the government, the Farm Ministry said Wednesday.The ministry said it has set up an evaluation system to measure fallout in the livestock sector caused by opening the domestic market to cheaper meat and dairy products from abroad.It said cash assistance will be given if prices of locally produced farm products such as meat, milk and eggs fall noticeably after a free trade agreemen

Feb. 29, 2012
Hyundai Motor family firms up grip on group
Hyundai Motor Group chairman Chung Mong-koo and his son Eui-sun have been expanding their presence in the group’s subsidiaries.Chairman Chung is to take on the role of a standing director in Hyundai Engineering & Construction, which was acquired by the automotive group in March 2011, Hyundai Motor said Wednesday.Last Friday, Chung Eui-sun, Hyundai Motor vice chairman and Kia Motors president, was named a standing director of Hyundai-Steel.According to Hyundai spokespeople, their direct involveme

MobilityFeb. 29, 2012
Industrial output shrinks 2 percent on-year in January
Korea’s industrial output shrank on-year for the first time in 31 months in January as its export-driven economy is under growing pressure from persistent global market uncertainties, a government report showed Wednesday.According to the report by Statistics Korea, production in the mining and manufacturing industries contracted 2 percent last month from a year earlier, compared with a 2.8 percent gain in December.This marked the first contraction since June 2009 when the output inched down 0.6

Feb. 29, 2012
Homeplus chief’s remarks against SSM regulation get mixed reaction
Major discount store chains oppose rules that limit business hoursA sharply worded remark by the chief of the nation’s second largest supermarket chain against politicians over the regulation of the retail giants’ business hours aroused mixed views across the industry Wednesday. The central and local governments are pushing for banning large retail outlets’ activities from midnight through 8 a.m. and making them close for a day or two a month under a law that passed the National Assembly late la

IndustryFeb. 29, 2012
Samsung, KT, LG win at trade show
Samsung Electronics’ Galaxy S2 was chosen as the best smartphone at the Mobile World Congress in Barcelona on Wednesday.Presented by the Global System for Mobile Association, Samsung’s flagship smartphone Galaxy S2 competed with other handsets like Galaxy Nexus, Apple’s iPhone 4S, HTC’s Desire S and Nokia’s Lumia 800. It was also given the Device Manufacturer of the Year award at the event.It was the first time for the firm to take home the best device manufacturer award and the third time it w

TechnologyFeb. 29, 2012
[News Focus] Will Samsung chief take legal action against siblings?
Industry sources say Samsung is on the lookout for lawyerAll eyes are on the future course of action Samsung Electronics chairman Lee Kun-hee will take in response to inheritance suits from his sister and brother.Industry sources close to the matter raised the possibility that Lee will refuse compromise and seek to end the dispute through a legal means. The sources said the country’s largest conglomerate is currently on the lookout to hire a lawyer who would officially take charge of the legal p

IndustryFeb. 29, 2012
Shares spike 1.33 percent on broad market gains
Korean stocks surged 1.33 percent Wednesday, boosted by a rally in chipmakers and shipbuilders as well as broad gains in large caps, analysts said.The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index advanced 26.56 points to end at 2,030.25. Trading volume was moderate at 555 million shares worth 6.71 trillion won ($5.99 billion) with gainers leading losers 542 to 289.The market rally was fueled by hopes that the global economy is on a recovery track. U

Feb. 29, 2012
Samsung, BMW to partner on batteries, software
Samsung president Lee Jae-yong in Germany to meet executives at BMW, SiemensSamsung Electronics Co. will partner with BMW to combine more of its technology with the German vehicles’ battery and in-car software, Samsung said on Wednesday. A team of Samsung executives led by CEO Lee Jae-yong left for Munchen earlier in the day for a series of meeting with counterparts at BMW and Siemens, including Norbert Reithofer, CEO of BMW, according to Samsung.“COO Lee had a meeting with Dr. Reithofer and bot

IndustryFeb. 29, 2012
Standard Chartered avoids labor strike
Bank and union agree on pay raise, creation of task force on other issuesStandard Chartered Bank Korea has reached a compromise with its union on a wage hike, though there are still unsettled aspects to their talks.The two sides agreed to pay raises of 2 percent and 4.1 percent for 2010 and 2011 salaries, respectively, late Tuesday.Their talks on the salary hike have continued over the past two years amid the possibility of a general strike of unionized workers.They also tentatively compromised

Feb. 29, 2012
Fukushima contamination 'chronic and lasting': French agency
Radioactive contamination levels from Japan's crippled Fukushima nuclear plant have fallen sharply since the accident but will be "chronic and lasting" for many years, a French watchdog said Tuesday."The initial contamination linked to the accident has greatly declined," Didier Champion, crisis mana

TechnologyFeb. 29, 2012
US Navy getting close on making super-powerful gun
A super-powerful gun that shoots rounds more than 100 miles (160 kilometers) away _ at several times the speed of sound _ is being developed for Navy warships.The weapon is known as an electromagnetic railgun. It consists of parallel rails and uses a magnetic field and electric current, instead of c

TechnologyFeb. 29, 2012
Is the pen mightier than the finger?
Samsung, LG unveil stylus devices at Barcelona mobile fairBARCELONA, Spain ― At the Mobile World Congress in this Barcelona, tech geeks from around the world were often spotted checking out new gadgets at the exhibition booths of Samsung and LG. They were tackling something believed to have died off in the tech scene ― writing with a stylus. Both Korean tech giants had unveiled stylus devices as new strategic products on Monday with the opening of the telecom industry’s largest trade show. Inste

IndustryFeb. 29, 2012
KCCI advises companies to cut prices in U.S. market
The Korea Chamber of Commerce and Industry advised Korean businesses to preemptively lower prices in the U.S. market to make good use of the free trade agreement with the world’s largest economy, which goes into effect on March 15.“The United States is our second largest export market after China, but it is actually the most important strategic point for exports,” the KCCI said in report released Tuesday.“Korean businesses should take the FTA as an opportunity to raise their U.S. market share ―

Feb. 28, 2012
Trade balance swings to deficit
Korea’s trade balance swung to a deficit in January for the first time in nearly two years on falling demand from Europe, underscoring concerns about how sharply the trade-dependent economy is hurt by external risks.The country’s current account posted a deficit of $772 million in January, logging the first monthly loss since February 2010, from a revised surplus of $2.8 billion in December, the Bank of Korea said on Tuesday. The drop in exports has been exacerbated by economic turmoil in Europe

Feb. 28, 2012
KT gearing towards globalization of NFC service
Firm jointly features NFC roaming coupon service with DoCoMo in BarcelonaBy Cho Ji-hyunKT Corp. announced Tuesday that it will launch the near field communication roaming coupon service for the first time together with Japan’s NTT DoCoMo beginning in April.Demonstrating the NFC coupon service at the Mobile World Congress in Barcelona, the firm said owners of its NFC mobile phones will be able to download discount coupons by placing their handsets on smart posters or reading the QR codes displaye

IndustryFeb. 28, 2012
Kia reveals K9 design
Kia Motors unveiled the exterior design of the K9, a luxury premium sedan, on Tuesday.“Its design features futuristic and high-end technology,” the company said in a statement. The car will officially be launched sometime before July.The sedan, which is expected to compete with Hyundai Motor’s Equus and Genesis sedans in sales, is an upper series of Kia Motors’ K7 and K5 sedans. K9 is the latest product of Kia’s evolving design approach, carrying its signature radiator grille, bold “high-tech lu

MobilityFeb. 28, 2012

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