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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Corporate direct financing hikes 23 pct in Sept.
Direct financing by South Korean companies soared 23 percent in September from a month earlier, as large firms opted to raise funds through bond sales on the back of lower borrowing costs, the financial regulator said Monday. Local companies raised a combined 10.8 trillion won ($10.1 billion) via selling stocks and bonds last month, compared with 8.8 trillion won the previous month, according to the Financial Supervisory Service (FSS). The on-month rise came as large companies increased bond sal
Oct. 28, 2013
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Korea remains strong in industrial competitiveness
Korea’s strong trade and industrial competitiveness stayed intact last year, while there was a wide gap between Korea and developed nations in the labor and social sectors, according to a statistics book released by the Korea International Trade Association on Sunday. According to “Korea Mirrored in Statistics,” based on a variety of international data and publications, Korea was the world’s 12th largest economy based on gross domestic production and 8th largest global trade powerhouse last year
Oct. 27, 2013
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Hyundai under pressure to open Mexico plant: source
Hyundai Motor is faced with mounting pressure from the Mexican government to build a new manufacturing plant in the Latin American country or face restrictions on importing its vehicles, an industry source said.“The Mexican government is considering imposing an import restriction on foreign carmakers that do not produce cars in the country. Hyundai, together with BMW, is the main target of the recent push,” the Mexico-based source said on condition of anonymity.The site of a new plant could be t
Oct. 27, 2013
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[Photo News] Park plays ball
Oct. 27, 2013
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Louis Vuitton most counterfeited: data
Louis Vuitton is the most counterfeited foreign luxury brand in Korea, according to data compiled by the Korea Customs Service. There were 616 cases involving fake Louis Vuitton items worth 487.5 billion won from 2009 to September 2013 during a customs crackdown, KCS said in its report submitted to Rep. Jung Sung-ho of the main opposition Democratic Party.The French luxury brand, which is owned by luxury goods giant LVMH Moet Hennessy Louis Vuitton SA, has long been one of the most popular luxur
Oct. 27, 2013
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French chain to take on Paris Baguette
SPC Group better watch out as its leading bakery brands Paris Baguette and Paris Croissant are about to face some stiff competition from a new kid on the block by the name of Brioche Doree. Brioche Doree, which literally means golden brioches, is a major French chain of bakery and caf restaurants.It’s now preparing to launch officially in Korea ― before the year is out ― meaning Koreans will soon get to taste real French croissants and pastry. “Brioche Doree will become major competition for the
Oct. 27, 2013
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[Photo News] Cuisine class in France
Oct. 27, 2013
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GE chairman hopes to build stronger presence in Korea
Jeffrey Immelt, Chairman of GE, on Friday spoke of his hopes to build a stronger presence in Korea, mostly in the marine, aviation and health care sectors where the company already has a strong global foothold. “I see a couple of opportunities in Korea,” he said, saying his two days in Korea meeting with government officials and business partners were productive, and that GE wanted to “continue to build a strong presence here.” Immelt declined to elaborate, but said there was much room for inves
Oct. 25, 2013
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Hyundai Motor chief pins hopes on Europe for new Genesis
Hyundai Motor Group chairman Chung Mong-koo stressed a rebranding strategy for Hyundai Motors and Kia Motor in Europe in his trip to the region on Thursday, pinning especially high hopes on the long-anticipated second-generation Genesis. According to group officials, the Hyundai chief visited the group’s European headquarters in Offenbach, near Frankfurt in Germany, to be briefed on the carmaker’s recent car sales and the market outlook overall.“The next-generation Genesis marks the culmination
Oct. 25, 2013
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Samsung begins mass producing new-generation LCDs in China
Samsung Display Co., a flat-panel unit of Samsung Electronics Co., started mass production of 8th-generation liquid crystal display panels on Friday at its new plant in China, as it seeks to meet the demand for large-size panels from Chinese television manufacturers. The $300 million new facility in Suzhou, a city one hour by car from China’s commercial hub of Shanghai, is capable of churning out as many as 80,000 standard LCD panels per month, Samsung officials said. It took 17 months for Samsu
Oct. 25, 2013
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Samsung Electronics sets earnings record
Samsung Electronics, the world’s No.1 maker of computer memory chips and smartphones, posted a record-high third-quarter profit on stellar performances by the semiconductor and mobile divisions, the company said on Friday.Net profit came to 8.24 trillion won ($7.76 billion), up from the 6.56 trillion won a year earlier, while revenue grew 13.2 percent on-year to 59.08 trillion won.Operating profit surged 26 percent to 10.16 trillion won. During the July to September period, Samsung sold over 10
Oct. 25, 2013
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[Photo News] Asiana VIP lounge revamped
Oct. 24, 2013
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South Koreans deemed ‘workaholics’ on comics map
A foreign comics site labeled South Korea as a country of workaholics, a fresh indicator that the country’s workers are indeed working hard for too many hours.The site, Dog House Diaries, unveiled a world map showing the strengths and key characteristics of various countries. While the representative word for South Korea was “workaholics,” North Korea earned “censorship” and Japan got “robots.”There were two key words for China: “CO2 emissions” and “renewable energy.”The key words for the map ar
Oct. 24, 2013
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LG Electronics Q3 net drops 34 percent
South Korean consumer electronics giant LG Electronics Inc. said Thursday its third-quarter earnings declined 34 percent from a year earlier largely due to increased marketing costs and growing competition.Net profit reached 109 billion won ($103 million) in the July-September period, compared with a profit of 165 billion won a year earlier, LG Electronics said in a regulatory filing.Revenue jumped 4.6 percent on-year to 13.9 trillion won over the cited period, and operating profit surged 27 per
Oct. 24, 2013
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S. Korea, Finland sign nuclear cooperation pact
(Yonhap) -- South Korea and Finland officially signed a deal on Wednesday to expand cooperation in the nuclear energy field and to ensure its peaceful use, Seoul officials said. The signing ceremony, which followed their preliminary deal in July, took place in the Finnish capital of Helsinki, with South Korean Prime Minister Chung Hong-won and his Finnish counterpart, Jyrki Katainen, attending. The nuclear energy accord with Finland will become South Korea's 28th, following similar agreem
Oct. 23, 2013
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[Newsmaker] KT CEO becomes yet another political target
KT Corp. has long been cut from the strings of the government apron, but it seems the fate of its chief executives remains in the hands of the administration. KT chairman Lee Seok-chae has been plagued with rumors of his imminent departure from the moment President Park Geun-hye took office.The allegations about his mismanagement aside, the biggest strike against Lee is that he started his term under former president Lee Myung-bak. “We thought the chairman would be able to carry out his term, bu
Oct. 23, 2013
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Samsung Display to become Corning’s largest shareholder
Samsung Display and Corning reached a deal Wednesday to pave the way for the Samsung unit to become the largest shareholder of the New York-based glassmaker, Samsung officials said.Under the agreement, Samsung Display will acquire Corning’s convertible preferred shares that can be converted into ordinary shares in seven years. The deal is scheduled to be signed early next year. Samsung Display said it will invest a total of $2.3 billion to gain a 7.4 percent stake in the U.S. firm.According to t
Oct. 23, 2013
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TPP talks likely to drag on until next year: ministry
Despite the initiative of the participating countries, the ongoing negotiations for the Trans-Pacific Partnership are not likely to reach a conclusion within the year, according to the Ministry of Trade, Industry and Energy.“It will be a highly complicated task for the parties to round off the TPP talks within the year, due to the number and range of unsolved pending issues,” said Choi Kyung-lim, assistant vice minister of trade, on Wednesday.As for Korea’s participation in the United States-led
Oct. 23, 2013
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Hyundai Motor chairman urges readiness for Europe turnaround
Hyundai Motor Group chairman Chung Mong-koo, in his trip to Europe this week, on Tuesday urged local employees to prepare for an imminent recovery of car sales in the region. “Now, when the European car market shows some signs of recovery, we should strengthen our brand awareness by promptly offering vehicles that meet local tastes,” said the Hyundai chief. In the process, Chung called to further elevate brand awareness of Hyundai Motor and Kia Motors, among other things. “Despite our increased
Oct. 23, 2013
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Hyosung seeks to bolster leadership in Chinese spandex market
Hyosung Corp., a leading textile manufacturer in Korea, will speed up its market expansion into the fast-growing Chinese spandex market as part of its efforts to bolster its global market leadership, the company said Wednesday. “The Chinese spandex market, which makes up 57 percent of total global demand, has annually grown more than 6 percent. Hyosung continue to expand business activities to lead the fast-growing Chinese spandex market and so to reinforce its global market leadership,” Cho Hyu
Oct. 23, 2013