Most Popular
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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Korean language teaching expert says demand has outstripped supply
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Conscripting women to lead to 'more babies,' claims military think tank
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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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Taking away phones during school hours not a human rights violation: watchdog
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Korea launches antidumping probe into Chinese steel
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[Grace Kao] Why K-pop lip-syncing doesn’t bother me
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Samsung targets 20% growth in smartphone sales next year
Samsung Electronics will aim for 20 percent growth in smartphone sales next year, the most conservative figure set since it started the business, as it focuses on the growing tablet market, industry sources said.Samsung’s information technology and mobile communications division reportedly set next year’s sales target of smartphones at 360 million units, a 20 percent increase from this year. Its tablet sales are expected to jump to 100 million from this year’s estimated 40 million units.“Samsung
Dec. 10, 2013
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Samsung’s Q4 operating profit forecast to hit record high
South Korean tech giant Samsung Electronics Co. is expected to set another record in operating profit in the fourth quarter, securities firms’ estimates showed Tuesday, due mainly to its robust sales of memory chips.Data from 25 securities firms projected Samsung Electronics’ operating profit at 10.5 trillion won ($10 billion) for the October-December period, according to market researcher FnGuide, up 3.5 percent from the previous record of 10.1 trillion won posted three months earlier.Brokerage
Dec. 10, 2013
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[Photo News] Hana branch in Indonesia
Dec. 10, 2013
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KDB cautious on GM pullout
The state-run Korea Development Bank, the second-largest shareholder of GM Korea, said Monday that it had asked the Detroit-based carmaker to submit additional financial data that supports its recent decision to pull its Chevrolet brand out of Europe.Following GM’s withdrawal announcement Thursday, concerns are growing in Korea that the move would lead to large-scale restructuring at its Korean unit, which manufactures 90 percent of the Chevy cars sold in Europe. “The decision on the Chevy pullo
Dec. 9, 2013
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Mahindra Korea launch planned for next year
Major multinational firm Mahindra & Mahindra is expected to launch Mahindra Korea early next year in a bid to further expand its presence in Korea, where Mahindra stands as the largest stakeholder of Ssangyong Motor Co., sources said. Mahindra’s senior vice president Dilip Sundaram is to be the first director based in the country. Sundaram has served as the chief finance officer of Mahindra since the India-based company acquired Ssangyong. Mahindra Korea is likely to handle the financial busines
Dec. 9, 2013
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Samsung ready to unveil cloud service
Samsung Electronics is planning to use the Tizen 3.0 operating system to feature a cloud service with its new smartphone in the second half of next year, according to industry sources. There has been speculation that Samsung had scrapped the plan to provide a cloud service ― to be called “S Cloud” ― as it repeatedly delayed the unveiling of the system, even for its much-anticipated Galaxy S3. “Though the attempts to launch it failed several times over the last few years, Samsung Electronics seem
Dec. 9, 2013
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KNOC discovers additional oil reserves in Iraq
A joint oil exploration project involving South Korea’s state-run oil company in Iraq has made another significant oil discovery in the Middle Eastern country, the company said Monday.The discovery was made at the Hawler minefield in Iraq’s northern Kurdish region, according to the Korea National Oil Corp.“The Zey Gawra-1 drill hole that made the latest discovery is the third exploration hole in the Hawler minefield, and it has successfully produced 4,800 barrels of light crude oil per day in a
Dec. 9, 2013
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Automobile output, exports expected to grow in 2014
South Korea’s automobile industry is expected to grow both in terms of its output and sales next year, the government said Monday.“Despite continuing global economic uncertainties, the automobile industry is expected to show slight gains in overseas sales, as well as its output and exports in 2014,” the Ministry of Trade, Industry and Energy said in a press release.The ministry said the combined domestic output by the country’s five automakers is expected to shrink 1.4 percent this year from 201
Dec. 9, 2013
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BOK likely to freeze key rate in December: poll
South Korea’s central bank is widely expected to freeze the key interest rate for the seventh straight month in December as the local economy is improving amid tame inflation, a poll showed Monday.All 17 experts forecast that the Bank of Korea will hold the benchmark seven-day repo rate steady at 2.5 percent Thursday, according to a survey by Yonhap Infomax, the financial news arm of Yonhap News Agency.Analysts said that the BOK is expected to freeze the key rate this month as a set of data poin
Dec. 9, 2013
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[Photo News] Multicultural weddings
Dec. 8, 2013
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Massive crowds, world leaders to honor Mandela
JOHANNESBURG (AP) ― South Africa expects overwhelming crowds and a host of world leaders to attend services honoring late President Nelson Mandela, though with the ceremonies only days away officials acknowledged Saturday they couldn’t offer any specifics yet. Across the country, South Africans already have begun honoring Mandela, who died Thursday at age 95, and officials expect tens of thousands to participate in this week’s official services. Official services honoring Mandela begin Tuesday w
Dec. 8, 2013
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KEMCO signs energy agreement with Peru
The state-run Korea Energy Management Corp. will step up cooperation with Peru, as it signed a memorandum of understanding with Peru’s Ministry of Energy and Mines on partnership for energy efficiency in Lima on Saturday, the company said. Based on the MOU, KEMCO will help Peru strengthen its energy efficiency capabilities, while helping Korean companies to develop projects in the Peruvian energy market. “KEMCO gained a foothold in South America with its partnership with Peru,” KEMCO CEO Byun Jo
Dec. 8, 2013
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Be your own boss
They defy rules and norms. They set no limits to destroying the old and creating the new. They have zero chance of succeeding in creating disruptive technologies in this market that is heavily reliant on and driven by conglomerates.They choose risk and rebellion over security because they believe that they can make the world a better place with game-changing technology or creative ideas.They are the entrepreneurs of tomorrow.Recognizing their true potential for the economy, the government has re
Dec. 6, 2013
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Universities help turn business ideas into reality
Kim Deok-hoon returned to university to set up a business. He enrolled in a start-up course and took advantage of the free office space the campus offered.“I think I’ve learned a lot over the past six months,” said the 37-year-old, who graduated from Hanyang University with an engineering degree in 2001.He had worked for nearly seven years as a consultant, but never had the chance to receive practical, hands-on training in starting and running a company until last summer, he said.“Every weekend
Dec. 6, 2013
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Roh’s ‘n’ rule: Create something new every 5 years
Entrepreneurs must be ready to stay ahead of the game through market foresight, and every five years they should try to create something new that can potentially disrupt existing technologies and markets, Chester Roh, one of Korea’s very few serial entrepreneurs, said in an interview with The Korea Herald.“We are living in an era that demands creative solutions and less complexity as we are seeing a shift in the economic paradigm where tedious traditional labor is being replaced by intelligent a
Dec. 6, 2013
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‘Clear motive, vision key to successful start-ups’
A noted Korean venture capitalist said that entrepreneurs must have a clear motive and a vision before starting a company.They must also have the ability to spot and solve problems. But above all, a great start-up must have a great team, said Jimmy Rim, CEO of K Cube Ventures, a venture capital fund established by Rim and Kim Beom-soo, founder of Kakao, the developer of mobile messenger KakaoTalk and other mobile communication platforms.“What we first look at before investing in start-ups is the
Dec. 6, 2013
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Korea ‘ideal’ place for foreigners to launch start-ups
Korea is the place to be for both nationals and foreigners looking to launch start-ups, especially in the fields of information technology and mobile technology, a foreign entrepreneur based in Seoul said.Ludolf Ebner-Chung, founder and CEO of Naldo, an online quick-delivery services platform, said that starting a company in Korea may often be a better career move than working at a conglomerate, especially for foreigners.“For Web-based IT and mobile start-ups, Korea is one of the ideal business
Dec. 6, 2013
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Art meets social venture
From Nov. 13-17 at a small gallery in Sagan-dong, a rather quiet area in central Seoul, a very different yet unique exhibition was held. Under the theme of “Hands,” four artists specializing in different forms ― ceramics, timepieces, handbags and dolls ― featured their products ranging from mugs and bowls to eco-friendly purses, handmade watches and ceramic dolls. The stories about the neighborhood were written on the wall. Sagan-dong was named after the librarians and royal historians that reco
Dec. 6, 2013
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Steelmakers turn to carmakers to break out of slump
While Korea’s steelmaking industry continues to struggle in a prolonged slump, the mid-sized auto-component providers are today’s cream of the crop, benefiting from the flourishing automobile market.When local steel companies reported on their management performance for the third quarter, the overall sales ranking was unsurprising, with POSCO taking the lead and Hyundai Steel trailing.The champion in terms of profits, however, was Hyundai Hysco, a subsidiary of Hyundai Motor Group specializing i
Dec. 6, 2013
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Allies still at odds over LG Uplus-Huawei deal
Korea and the United States are seemingly at odds over the latest deal LG Uplus signed with Huawei Technologies allowing the Chinese telecom equipment maker to build a mobile network here due to the sensitivity of the issue.From Washington, lawmakers are voicing their alarm about possible spy risks, but the Korean government so far are echoing Beijing’s stance by saying there will be no problems.The fact that there are over 28,000 U.S. troops stationed in Korea, not to mention that Seoul is one
Dec. 5, 2013