Most Popular
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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OpenAI in talks with Samsung to power AI features, report says
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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Two jailed for forcing disabled teens into prostitution
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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S. Korea not to attend Sado mine memorial: foreign ministry
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South Korean military plans to launch new division for future warfare
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Kia EV9 GT marks world debut at LA Motor Show
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Gold bars and cash bundles; authorities confiscate millions from tax dodgers
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Registered automobiles to top 18 million in Feb.
The number of registered automobiles in South Korea could top 18 million as early as next month.The Ministry of Land, Transport and Maritime Affairs said the number of registered automobiles in the country came in at 17.94 million units at the end of last year.The ministry expects the number of registered automobiles to rise above the 18 million mark in February if the pace is maintained at last y
MobilityJan. 6, 2011
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Asiana Airlines to introduce 6 Airbus A380-800s by 2017
Asiana Airlines, the country’s No. 2 air carrier, said on Thursday that it sealed a deal with Airbus to introduce six A380-800 planes by 2017.Starting from 2014, Asiana Airlines will bring in European manufacturer Airbus’ upgraded and environmentally friendly airplane which is planned to be used for long-term routes to the Americas and Europe. A380-800 airplane (Asiana Airlines)“The introduction o
IndustryJan. 6, 2011
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KEPCO targets $26b in overseas sales by 2020
Korea Electric Power Corp. CEO Kim Ssang-soo pledged to boost the firm’s overseas sales to $26 billion by 2020 by improving the profitability and efficiency of its nuclear power and “green” businesses, the firm said Thursday.“We must carry out the construction of nuclear power plants in the United Arab Emirates as planned and win another nuclear reactor contract from abroad this year,” Kim said in
IndustryJan. 6, 2011
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Big firms aggressive for 2011
Hyundai Motor to invest W12tr, Hynix W3.4tr following Samsung’s W43trThe country’s large firms are unveiling their big investment plans for this year, hinting that many of them will take a more aggressive stance in expectation of a recovery in global demand.This week, a number of big firms and conglomerates, such as Hyundai Motor Group, LG, Samsung and Hynix Semiconductor, announced their larger i
IndustryJan. 6, 2011
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Samsung to unveil Q4 earnings guidance this week
Samsung Electronics Co., the world's largest supplier of memory chips, flat-screen panels and TVs, is scheduled to announce an estimate of its earnings for the October-December quarter this week, a company official said Thursday. Samsung will report its guidance of the fourth-quarter earnings on Friday, the official said. The company is estimated to have posted 3.39 trillion won ($3.02 billio
IndustryJan. 6, 2011
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LG Electronics to unveil new smartphone with improved display
LG Electronics Inc., the beleaguered world's third-largest handset maker, said Thursday that it will introduce a new smartphone model with an enhanced screen display that has significantly lowered power consumption.The Optimus Black is the company's first model to use a "NOVA" display, which cuts power consumption in half in comparison to previous products and features an enhanced visibility even
IndustryJan. 6, 2011
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S. Korea's registered cars jump in 2010
The number of registered cars in South Korea jumped last year as consumers purchased more vehicles amid recovering economic conditions, the transportation ministry said Thursday.The number of registered cars reached 17.94 million at the end of last year, up 616,000 from a year earlier, according to the ministry. The increase was the second largest following a jump of 637,000 in 2003.The ministry a
Jan. 6, 2011
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S. Korean home mortgage loans soar in Dec.
Mortgage loans extended by South Korean financial firms grew by the largest amount in four years in December, as low borrowing costs and eased rules on home-backed lending spurred demand, data showed Thursday.Home-backed loans handled by local financial institutions grew by 4.9 trillion won (US$4.36 billion) on-month to 379.3 trillion won in December, according to data by the Financial Supervisory
Jan. 6, 2011
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Hynix set to invest 3.4 tln won in 2011
Hynix Semiconductor Inc., the world's second-largest maker of computer memory chips, said Thursday that it will spend 3.4 trillion won (US$3.03 billion) on plants and equipment in 2011, around the same level as last year.The investment plan is subject to change depending on market conditions, the company said in a regulatory filing.Hynix, which trails its bigger industry rival Samsung Electronics
IndustryJan. 6, 2011
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Samsung scales up investment, hiring scheme for 2011
Samsung Group plans to spend a record 43.1 trillion won ($38.4 billion) this year to consolidate its global leadership in electronics and shore up its charge into growing fields. Korea’s largest conglomerate on Wednesday announced its plan to increase investment by 18 percent year-on-year, which analysts say reflects its expectation of global demand recovery.The conglomerate also said that it woul
IndustryJan. 6, 2011
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TV stakeholder in violation of medical law
A shareholder of recently licensed Yonhap News Television has no stipulation regarding broadcast business in its articles of association. Critics note that Eulji General Hospital’s participation in television business is in violation of the law requiring a medical corporation to carry out business activities within the boundary of its articles of association.They also point out that the violation
IndustryJan. 6, 2011
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Hyundai Motor Group to invest W12 tr in 2011
Chung Mong-koo, chairman of Hyundai Motor Group, said Wednesday his company plans to invest about 12 trillion won ($ 10.64 billion) this year, up 15 percent from last year.The nation‘s second-largest conglomerate also plans to employ “a large number of staff” this year when its steel-making unit, Hyundai Steel, is set to complete its third blast furnace, Chung said in a New Year meeting of financi
IndustryJan. 5, 2011
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GM Daewoo retooling branding strategy
Newly confident carmaker readies all-Chevrolet lineup for 2011 GM Daewoo Auto and Technology is pushing for a new branding strategy which could see it attaching the Chevrolet brand to all its new vehicles this year. The bold move reflects its newfound confidence from debt repayment and improved performance but has gotten mixed reactions from market watchers.The Korean unit of the U.S. auto giant p
IndustryJan. 5, 2011
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Hyundai Motor set to win battle over top builder
Hyundai Motor Group looks set to win its months-long competition with Hyundai Group to take over Korea’s top construction company. Creditors of Hyundai Engineering & Construction, including Korea Exchange Bank, launched their preparations Wednesday to sign a memorandum of understanding with the automobile giant by as early as next week.Their move followed a court ruling Tuesday which supported the
Jan. 5, 2011
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TV makers draw swords on Google, Apple in war over living rooms
Television makers will use the Consumer Electronics Show in Las Vegas to introduce new Internet services and blunt efforts by Google Inc. and Apple Inc. to dominate home entertainment. Samsung Electronics Co., LG Electronics Inc. and Cisco Systems Inc., the set-top box supplier, will unveil applications, signaling they won’t cede leadership to Google, Apple or other upstarts angling to get consume
IndustryJan. 5, 2011
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Nearly half of foreign firms have no hiring plans: survey
Nearly half of foreign companies with branches in South Korea have no plans to recruit university graduates this year, a survey showed on Wednesday.A survey of 58 foreign firms conducted by the online recruiting agent JobKorea found that 26, or 44.8 percent, do not have plans to hire any new graduates this year.Of the remainder, 24 companies responded that they will be looking for new employees th
IndustryJan. 5, 2011
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Seoul shares end slightly lower after rally
Korean stocks finished 0.12 percent lower on Wednesday as investors sat on the sidelines following recent rallies that had set fresh record highs, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 2.59 points to 2,082.55 after reaching a new intra-day high of 2,087.14 at one point. Trading volume was moderate at 379.1 million shares
Jan. 5, 2011
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Economic gap between Koreas widens further
The economic gap between South and North Korea remained wide across the board with differences in income level and trade more apparent than in other areas, data showed Wednesday. According to the data by Statistics Korea, South Korea’s per-capita gross national income amounted to $17,175 at the end of 2009, about 18 times larger than the $960 tallied for the North. During the cited year, the South
Jan. 5, 2011
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Asus hopes tablet variety will lure fans
LAS VEGAS (AP) ― Taiwan’s AsusTek Computer Inc. plans to start selling an array of tablet computers ― including hybrids that sit somewhere between a laptop and a tablet ― with the hope that variety is the best weapon against Apple Inc.’s iPad and other similar gadgets.Asus chairman Jonney Shih unveiled the new devices Tuesday ahead of the International Consumer Electronics Show in Las Vegas. They
IndustryJan. 5, 2011
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Hyundai raises export prices of steel products
Hyundai Steel on Wednesday further raised the export price of bar and section products by up to $50 per metric ton.With the changes, H-shape section steel has been raised to between $800 and $810 per ton, including freight costs, for the Middle East and Southeast Asia, respectively.Products bound for Europe and the U.S. will be priced at between $830 and $840 per ton in line with the changes imple
IndustryJan. 5, 2011
