Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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First snow to fall in Seoul on Wednesday
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Wealthy parents ditch Korean passports to get kids into international school
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S. Korea not to attend Sado mine memorial: foreign ministry
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Man convicted after binge eating to avoid military service
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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[Weekender] Korea's traditional sauce culture gains global recognition
![[Weekender] Korea's traditional sauce culture gains global recognition](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/21/20241121050153_0.jpg&u=20241123224317)
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BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
![[Weekender] Korea's traditional sauce culture gains global recognition](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/21/20241121050153_0.jpg&u=20241123224317)
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DDoS attack virus wipes hard drives
A malicious code embedded in personal computers to attack Internet sites in Korea began to destroy hard drives of their host computers on Sunday, communication authorities said. Key government agencies and financial institutions suffered cyber assaults Friday and Saturday with minor damage caused. On Sunday, the code for the so-called “distributed denial-of-service” attacks activated an order to d
March 6, 2011
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Hyundai wins $615m drillship order
Noble Corp., which has ordered construction of two of the industry’s most expensive drilling rigs this year, will buy a third ultra-deepwater vessel as contractors take advantage of higher crude prices and low shipyard costs.The rig, which will be able to drill in water as deep as 12,000 feet (3,700 meters), will cost $615 million, the Geneva- based drilling contractor said. Noble ordered all thre
March 6, 2011
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Revised savings bank rules to hit shareholders
New regulations mean major stakeholders face fines if banks take too many lending risksThe financial regulator plans to add new clauses to regulations on savings banks to enhance supervision and punish large shareholders for risky behavior, sources said Sunday.The Financial Supervisory Commission is rewriting rules governing the country’s embattled savings banks suffering the result of their inves
March 6, 2011
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BOK under growing pressure to hike rate
The Bank of Korea is under intense pressure to raise the benchmark interest rate for March after keeping the rate unchanged last month despite spiraling consumer prices.Analysts have widely criticized the Monetary Policy Committee of the central bank, accusing it of missing the opportunity to make timely increases in the interest rate since the latter half of 2010.Woori Futures research analyst Ch
March 4, 2011
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Regulator warns against excessive bank competition
FSS chief blasts Shinhan for stock options given to ex-chairFinancial Supervisory Service Gov. Kim Jong-chang on Thursday issued a strong warning against excessive competition and executive compensation among commercial banks.In a meeting with bank CEOs in Seoul the nation’s chief financial regulator cautioned that banks should refrain from behavior that could destabilize their finances and furthe
March 3, 2011
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Seoul shares rebound on recovery hopes
Korean stocks closed 2.2 percent higher on Thursday, recouping losses from earlier this week, as a series of encouraging economic data spurred strong foreign and institutional buying, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 42.42 points to 1,970.66. Trading volume was moderate at 277.2 million shares worth 5.13 t
March 3, 2011
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Hynix seeks delay of patent trial
Hynix Semiconductor Inc., Micron Technology Inc. and Nanya Technology Corp. asked a federal judge in California to delay a patent-infringement trial scheduled for May 2 over claims brought by Rambus Inc. Jared Bobrow, a lawyer representing the memory-chip makers, said in a letter Wednesday to U.S. District Judge Ronald M. Whyte in San Jose, California, that the trial should be taken “off calendar”
March 3, 2011
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Foreigners turn to big net stock sellers
Foreign investors swung to massive net selling of Korean stocks in February as mounting inflation threats and political uprisings in Arab countries put a damper on sentiment, the financial regulator said Thursday. Foreigners pulled 3.7 trillion won ($3.3 billion) of Korean shares out of the local bourse last month, compared with net buying worth 1.4 trillion in January, the Financial Supervisory S
March 3, 2011
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Korea urges 3-way FTA with Japan, China
Korea needs to sign a three-way free trade deal with Japan and China in a bid to boost prosperity in Asia and better prepare for external shocks, a senior finance ministry official said Thursday.“Economic integration should be pursued to help the East Asian countries flexibly deal with global uncertainties and realize their co-prosperity in this region,” Vice Finance Minister Yim Jong-yong told an
March 3, 2011
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S. Korea's foreign reserves hit fresh high in Feb.
South Korea's foreign exchange reserves climbed to a new high in February as a weaker U.S. dollar boosted the conversion value of assets in other currencies, the central bank said Thursday. The country's foreign reserves reached US$297.67 billion as of the end of February, up $1.71 billion from the previous month, according to the Bank of Korea. The reserves rose for the third consecutive mont
March 3, 2011
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Seoul shares open higher on auto, tech gains
South Korean stocks got off to a strong start on Thursday, fueled by advances in shares of automakers and technology firms, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose17.37 points, or 0.9 percent, to 1,945.61 in the first 15 minutes of trading. Autos propped up the KOSPI with Kia Motors rising more than 2 percent and Hyundai Mobis, the country's largest auto par
March 3, 2011
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Stagflation looms large on extended inflation: experts
Consumer prices rise 4.5% in Feb.Consumer prices in February rose above the government’s target for the second month in a row amid signs of slower growth, bolstering concerns of stagflation.The Consumer Price Index advanced 4.5 percent from a year ago to a 27-month high, following January’s 4.1 percent gain from last year. The Bank of Korea targets inflation rates to remain at 3 percent level for
March 2, 2011
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KB Kookmin Card targets No. 1 issuer
CEO says company will focus on product diversity and convergence with telecom sectorKB Kookmin Card set out its ambition to take the No. 1 position in the domestic market as the former Kookmin Bank unit, restarted as a separate corporation on Wednesday.KB Financial Group launched the stand-alone credit card firm eight years after the money-spinning unit was merged into the bank in 2003.The unit ha
March 2, 2011
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Ex-Shinhan chief given stock options
Shinhan Financial Group has granted stock options to its former chairman Ra Eung-chan, who resigned in October over alleged irregularities.Board members of the nation’s third-largest financial group recently endorsed a proposition that Ra be entitled to stock option rights, industry sources said on Tuesday.The stock options amounted to more than 300,000 shares. Considering the group’s stock price
March 1, 2011
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Securities companies’ earnings edge up
Securities companies in Korea saw their earnings inch up in the first three quarters of fiscal 2010 from a year earlier, the financial regulator said Tuesday.A total of 62 local and foreign brokerage houses operating in the country posted 2.09 trillion won ($1.8 billion) in net income for the April-December period, just 2.2 billion won more than a year earlier, the Financial Supervisory Service sa
March 1, 2011
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Think tanks revising inflation outlooks
Korea’s major think tanks are expected to revise up their 2011 inflation outlooks for the country as oil and commodity prices are rising at a faster-than-expected pace.Industry sources said Tuesday that the nation’s leading private-sector think tank Samsung Economic Research Institute will likely raise its inflation outlook to mid-3 percent from its previous forecast of about 3 percent.LG Economic
March 1, 2011
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[News Focus] Legislation stall hinders access to Islamic money
Korea’s recent failure to legislate tax benefits for sukuk, or Islamic bonds, is seen to begin taking a toll on the country’s access to one of the world’s fastest growing financial sources. The Malaysian government is said to have declined requests by Korean companies to grant issuance of corporate bonds in the country, spurring concerns that it may be the first reaction to Korea’s reluctance to g
Feb. 28, 2011
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[Herald Interview] Asia needs to reduce dollar use: UNCTAD chief
Asian countries should increase use of their local currencies in inter-regional trade settlements to avoid currency disturbances stemming from U.S. monetary policies, Supachai Panitchpakdi, secretary-general of the U.N. Conference on Trade and Development, said. “By creating more account settlement in, say Chinese renminbi, Indonesian rupiah, or the Korean won, the region could relax tension arisi
Feb. 28, 2011
![[Herald Interview] Asia needs to reduce dollar use: UNCTAD chief](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2011/02/28/20110228000618_0.jpg&u=20110228182215)
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Korea Exchange pushes to go public
Chairman Kim vows to enhance global networking, toughen against fraudThe Korea Exchange will push for an initial public offering to boost its competitiveness and expand its operations globally, its chairman Kim Bong-soo said.He also pledged to toughen penalties on trading irregularities, citing the recent controversy involving Deutsche Bank, which allegedly manipulated the stock market through mas
Feb. 27, 2011
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S&P remains negative on Hana Bank's expected acquisition of KEB
Standard & Poor's Ratings Services said Saturday that it continues placing Hana Bank on its "negative watch" list as the lender is getting closer tocomplete the acquiring of Korea Exchange Bank.Hana Financial clinched a deal last November with U.S. buyout fund Lone Star Funds to buy South Korea's fifth-largest lender for 4.69 trillion won ($4.19 billion), which it said would be paid with internal
Feb. 26, 2011
![[Herald Interview] Asia needs to reduce dollar use: UNCTAD chief](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2011/02/28/20110228000618_0.jpg&u=20110228182215)
