Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Korea added to key bond index
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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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North Korea notifies UN Command of plans to fortify border with South
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Taking away phones during school hours not a human rights violation: watchdog
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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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Dong-A Pharm split-up plan passes shareholders’ meeting
Dong-A Pharmaceutical’s controversial plan to put its cash cow energy drink business Bacchus under an unlisted firm wholly owned by a new holding company passed the shareholders’ meeting on Monday.Present shareholders of 73 percent of the firm’s stake approved Dong-A’s plan to split itself into two business corporations that make prescription drugs (Dong-A ST) and over-the-counter drugs (Dong-A Pharm), and set up a holding company (Dong-A Socio Holdings) that holds a 100 percent stake in Dong-A
Jan. 28, 2013
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Mercedes commercial criticized as too sexy
A Mercedes-Benz commercial spotlighting model Kate Upton is too sexy, the Parents Television Council said.The commercial features the “Sports Illustrated” swimsuit model wearing cutoff shorts and a cleavage-revealing, skin-tight tank top in slow motion as she prepares to wash the 2014 Mercedes CLA-Class. In reality, she points out that a group of young football players “missed a spot” as they wash the vehicle.“This ad [reinforces] for millions of wives, daughters and sisters across the country t
Jan. 28, 2013
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Hana Financial to buy additional shares in KEB
Hana Financial Group Inc. said Monday it plans to buy an additional 40 percent stake in the Korea Exchange Bank (KEB) in April by swapping shares, taking firmer control of South Korea's No. 5 lender.Hana Financial completed the deal to buy a 51.02 percent stake in KEB from Lone Star Funds for 4.69 trillion won ($4.34 billion) in February 2012, making it Korea's No. 3 banking group. It also bought further stakes to raise its holdings to 60 percent last year.The group said it plans to buy the rema
Jan. 28, 2013
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Male workers taking paternity leave surge in 2012
The number of male workers taking paternity leave soared nearly 30 percent last year, but their rate still came far behind that of their female counterparts, government data showed Monday.According to the data compiled by the Ministry of Employment and Labor, the number of male employees getting paternity leave in2012 came to 1,790, up 27.6 percent from a year earlier.Since the measure was introduced in 1987, the number of fathers applying for the time off has been on a steady rise, with only tw
Jan. 28, 2013
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Outdoor gear and clothing market bulging
The Korean market for outdoor gear and clothing was expected to continue growing on the burgeoning demand for outdoor activities, Samsung Fashion Institute said Sunday. This year, the market for such products is expected to grow to 6.4 trillion won, up 11 percent from 2012, the think tank said in a forecast. Last year, the market had reached 5.75 trillion won, up from 4.35 trillion won in 2011 and 3.25 trillion won in 2010. Major outdoor brands have vowed to take advantage of the situation to ag
Jan. 27, 2013
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Foreign low-cost carriers pushing to tap Korea
Several foreign budget carriers are setting their sights on South Korea as the country’s low-cost air travel market is expected to continue to grow considerably, industry sources said Sunday.Japanese low-fare airline Jetstar Japan has recently decided to offer flights to South Korea and China and conducted a field study of Gimhae International Airport on the outskirts of Busan, South Korea’s second-largest city, according to the sources.Singapore’s budget carrier Tiger Airways is reportedly cons
Jan. 27, 2013
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Hanwha to upgrade 2,000 workers
Hanwha Group has become the first of the nation’s top 10 industrial groups to upgrade the employment status for a substantial number of its non-regular workers.On Sunday, the company said a total of 2,043 individuals of non-regular status would be elevated to regular employee status to receive benefit packages and equal promotion opportunities.The figure included those who had been hired as contracted workers but were promised to be upgraded to regular worker status after two years. More than ha
Jan. 27, 2013
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Foreign investors scurry to leave Seoul
Foreign investors are scurrying to exit the South Korean stock market with a net selling binge, possibly shifting to the Japanese market as a weaker yen whets their investor appetite, analysts said.Overseas investors sold off local stocks worth a combined net 1.54 trillion won (US$1.45 billion) in the Seoul bourse for the last two weeks, according to the data by the Korea Exchange (KRX).They sold off a net 490 billion won last Friday, the largest daily net selling since 498 billion won tallied o
Jan. 27, 2013
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Heavy industries’ market cap slides on cheap yen
Despite the ambitious goals of local shipbuilders to attract more orders based on technological breakthroughs and more offshore plants, Korea’s heavy industries appear to have been hit by the rapid fall of the Japanese yen.During the past four months, automakers and shipyards saw their combined market capitalization plunge 34 trillion won ($32 billion), industry data showed Sunday.Companies selling to Japanese counterparts earn less due to a stronger won, while those who vie with Japanese firms
Jan. 27, 2013
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Kyobo Life not to go public in 2013: sources
Kyobo Life not to go public in 2013: sourcesKyobo Life Insurance Co., South Korea’s second-largest life insurer, is unlikely to seek an initial public offering (IPO) this year due to worsening market conditions at home and abroad, industry sources said Sunday.Citing no need to raise funds and a global economic slowdown, Kyobo Life Insurance has decided not to list its shares on the domestic stock market, according to the sources.It marks the second consecutive year that Kyobo Life Insurance has
Jan. 27, 2013
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Galaxy S4 rumored for March release
Samsung Electronics, the world’s top cellphone maker, is expected to organize a major ceremony to unveil its latest Galaxy S4 in the U.S.The “Mobile Unpacked” event for the newest Galaxy phone is likely to be held on March 22, according to media and industry sources last week. SamMobile, an online community dedicated to delivering news involving Samsung, also cited insiders who said that the Korean electronics firm will ship the new Galaxy S4 beginning in April. It also said Samsung was planning
Jan. 27, 2013
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Heavy industries' market cap tumbles on weaker yen
South Korea's listed heavy industry companies saw their market capitalization plunge by 34 trillion won ($32 billion) in the last four months, hit by the Japanese yen's rapid descent, industry data showed Sunday. The combined market cap of local heavy industry firms, including automakers and shipyards, tumbled 19.2 percent to 142.8 trillion won as of last Friday, compared with the 176.8 trillion won tallied on Sept. 17, 2012, the highest number recorded for the second half of last year, accor
Jan. 27, 2013
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Hyundai’s Santa Fe named safest car in Europe
South Korean automaker Hyundai Motor Co.’s sports utility vehicle Santa Fe has received top scores to be named the safest car in its segment by a European car assessment program, the company said Friday.At the latest test by the European New Car Assessment Program, the Santa Fe garnered 96 percent in adult occupant protection and 89 percent in child occupant protection categories, which measure how stable the passenger compartment remains in the case of frontal impact.The Hyundai SUV also earned
Jan. 25, 2013
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Korea to develop leading indicator for trade
SEJONG (Yonhap News) ― South Korea is considering developing a new leading indicator for trade conditions this year to better predict the economic trends of Asia’s fourth-largest economy, officials said Friday.Statistics Korea said the government is thinking of developing an indicator that would measure economic outlooks by tracking the trends of the country’s exports and imports.The index will be made by calculating an on-month growth rate of customs-cleared exports and imports, according to of
Jan. 25, 2013
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KOGAS gains license from Cyprus for gas search
An international consortium, including Korea Gas Corp., or KOGAS, signed a joint exploration and production contact with the Cyprus government to search for gas in three offshore blocks, KOGAS said. “The consortium is composed of KOGAS and Italy’s ENI. KOGAS secures a 20 percent stake in the consortium, while ENI holds the remaining 80 percent stake,” a KOGAS official said Friday. “Operations for gas search on blocks 2, 3, 9 off the east Mediterranean island will be led by ENI for the next three
Jan. 25, 2013
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Hyundai E&C net drops 18 percent in 2012
Hyundai Engineering & Construction Co., South Korea’s leading builder, said Friday that its 2012 earnings dropped 18 percent from a year earlier.Its consolidated net profit came to 560 billion won ($521 million) last year, compared with 685.1 billion won in 2011, the company said.Sales, however, jumped 11.8 percent on-year to 13.3 trillion won in 2012, and operating profit increased 3.4 percent on-year to 760 billion won. (Yonhap News)
Jan. 25, 2013
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Renault Samsung to lead SM5, QM5 development
Renault Samsung Motors said Friday that it would play a leading role in developing new versions of SM5 and QM5 cars that will be marketed globally. Thus far, the role of the Korean unit of France-based Renault Group has been largely limited to car production. Even though Renault plans to resume its Chinese production to cover the world’s largest car market, there would be no major changes in the neighboring Korean operation, said Gilles Normand, Renault chairman for the Asia-Pacific region. “For
Jan. 25, 2013
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Samsung posts record Q4 earnings
Samsung Electronics said Friday its 2012 fourth-quarter operating profit jumped 89.4 percent from a year before on strong exports of its Galaxy S3 and Galaxy Note 2 smartphones. Its net profit grew 75.6 percent on-year to 7.04 trillion won ($6.59 billion) in the three months to December, the company said in a regulatory filing.The world’s top smartphone maker achieved its largest-ever quarterly sales of 56.1 trillion won, up 18.51 percent from a year earlier, and operating profit of 8.84 trillio
Jan. 25, 2013
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Samsung posts record Q4 earnings
Samsung Electronics said Friday its 2012 fourth-quarter operating profit jumped 89.4 percent from a year before on strong exports of its Galaxy S3 and Galaxy Note 2 smartphones. Its net profit grew 75.6 percent on-year to 7.04 trillion won ($6.59 billion) in the three months to December, the company said in a regulatory filing.The world’s top smartphone maker achieved its largest-ever quarterly sales of 56.1 trillion won, up 18.51 percent from a year earlier, and operating profit of 8.84 trillio
Jan. 25, 2013
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Pension fund to vote against Bacchus spinoff
The National Pension Fund said Thursday that it will vote against Dong-A Pharmaceutical’s plan to spin off its core business unit at the coming shareholders’ meeting on Jan. 28.The pension fund, a main shareholder of the drug producer with a stake of 9.5 percent, pointed to “uncertainty” in terms of securing shareholders’ rights under the possible spinoff.Dong-A Pharmaceutical is seeking to establish a holding company and put its cash cow energy drink business, Bacchus, under an unlisted firm.Th
Jan. 24, 2013