Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Pandemic left Korea more depressed than before: report
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Gov't appears to shelve punitive measures against mass walkout by doctors
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Govt. asks hospitals to mitigate impact of medical professors' absence
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Samsung mocks Apple over iPhone alarm glitch
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Talent search needs ‘fundamental’ shift
ManpowerGroup CEO stresses diversity in corporate talent sourcesKorean companies will need to reinvent their strategies to hire graduates from different talent sources, according to Jeff Joerres, chief executive of ManpowerGroup, the largest U.S.-based staffing company.Criticizing the university culture of developing the same skill sets and studying the same language materials here, the ManpowerGroup chief of 12 years emphasized the importance of prioritizing diversity for Korean companies reach
IndustryNov. 13, 2011
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Samsung to remain top smartphone vendor in Q4
Samsung Electronics will continue to edge out Apple Inc. to stay on top of the ever-fierce smartphone market in the fourth quarter, a U.S. market research firm said.Though Apple’s iPhone 4S is triggering a new consumer frenzy worldwide, Samsung would benefit from its larger display panels, richer product lineup and capability for the faster LTE (Long-Term Evolution) network, according to Strategy Analytics.“Apple will rebound tremendously but it won’t be enough to catch up with Samsung,” Thomas
IndustryNov. 13, 2011
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Hynix to add momentum to SK Group
Uncertainties remain with regards to benefits of acquisitionThe acquisition of Hynix Semiconductor, the world’s No. 2 memory chip maker, will consolidate SK Group’s position as Korea’s third-largest conglomerate and add momentum to its growth.In growing to be the country’s third-largest conglomerate, SK Group has developed petrochemicals and telecommunications businesses as the pillars that support the group.In the 1970s, about 20 years after SK Group’s foundations were laid, the conglomerate br
IndustryNov. 13, 2011
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Local banks’ earnings could fall more than 10% next year
South Korean banks’ earnings are likely to fall 11 percent next year from this year as the cooling economic growth and slowing loan expansion will undercut their bottom lines, data showed Sunday.The combined net income of four major banking groups and two lenders are likely to reach 11.5 trillion won ($10.2 billion) for next year, down from 12.9 trillion won projected for this year, according to an estimate made by financial information provider FnGuide.Korean banks are expected to post stellar
Nov. 13, 2011
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Banks’ long-term foreign borrowing soars in Oct.
South Korean banks’ mid- and long-term foreign borrowing sharply increased in October as lenders rushed to secure foreign currency in a bid to brace against global financial woes, the financial watchdog said Sunday.A total of 12 local banks refinanced 299.3 percent of their maturing mid- and long-term foreign debt through fresh borrowing last month, up from 186.6 percent in September, according to the Financial Supervisory Service.The rollover rate gauges the percentage of fresh overseas borrowi
Nov. 13, 2011
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Regulator set to curb individuals’ derivatives trading
South Korea’s financial watchdog said Sunday it is mulling a set of measures to limit retail investors’ trading of derivatives in a bid to keep them from suffering heavy losses.Currency margin trading is viewed as one of the riskiest derivatives for retail investors as losses from their excessive bets on currency volatility have increased, prompting the financial watchdog to study steps to curb it.Margin trading allows investors to place heavy bets on currency volatilities with a relatively smal
Nov. 13, 2011
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Shares expected to climb as Italy moves to stabilize fiscal woes
South Korean stocks are forecast to gain ground next week as Italy moves to stabilize its fiscal woes, analysts here said Saturday.Stock market analysts said the move by Italian lawmakers to reform its pension plan and dispose of state assets will send the right message to investors and help reduce the European country’s debt that stands at 120 percent of its gross domestic product.The effort follows similar action taken by Greece, Portugal and Spain to ward off disasters that could destabilize
Nov. 13, 2011
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More than 100 senior Korean Air workers let go
Korean Air said Sunday it had dismissed more than 100 senior employees in its volunteer retirement scheme aimed at cutting costs and streamlining operations.The country’s largest carrier brought the program back in five years as it combats eroding profitability in the face of soaring fuel prices and currency issues.The program targets workers who are 40 years old or older and have served for at least 15 years, the company said, but excludes flight attendants and those at overseas units.Although
IndustryNov. 13, 2011
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Card sales competition resurges despite warning
Samsung, Hyundai, Shinhan in campaign to attract more customersCredit card companies are fighting another marketing war despite financial regulators’ warnings against signing up too many customers.The industry’s big three ― Shinhan Card, Hyundai Card and Samsung Card ― have taken the initiative in the issuance competition. Other companies, such as KB Kookmin, Lotte and Hana-SK, are set to follow the move. In particular, Samsung Card, the third-largest issuer, has been aggressive in developing ne
Nov. 13, 2011
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Nongshim launches new instant rice noodles
Nongshim, the nation’s leading food maker, has produced a diverse range of instant rice noodle products since 2010 when the company’s Noksan factory was completed in Busan. Rice noodles, unlike flour-based noodles, make consumers feel full despite being low in calories. They are also a digestible, light food that can be enjoyed by all age groups. The noodles, produced in the new factory line, are unprecedented, the company said. By applying Korea’s traditional food to instant noodles, Nongshim h
IndustryNov. 13, 2011
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Hyundai Motor unveils all-new Genesis Coupe
Hyundai Motor Co., South Korea’s largest automaker, on Sunday unveiled its all-new premium Genesis sports coupe that features more power, a dynamic exterior and passenger comfort.The vehicle, which shares the same external dimensions with the older model launched in October 2008, has a large radiator grill, aggressive head lamps and rear light combinations with liberal use of light emitting diode lights.The car, shown for the first time at the Korea International Circuit in Yeongam, South Jeolla
MobilityNov. 13, 2011
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Hyundai, Kia set milestone in U.S. exports
Hyundai Motor Co. and its affiliate Kia Motors Corp. saw their cumulative sales in the U.S. surpass 10 million units as of October.In the North American market, Hyundai Motor sold about 7.13 million units over the past 25 years and Kia Motors’ sales came to about 3.68 million units over 17 years.Hyundai, which was established in 1967 and experienced first exported of the Pony sedan in 1976 to Ecuador, finally entered the U.S. market in 1986.The company has actively expanded its presence there wi
MobilityNov. 13, 2011
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Mercedes dealer names new CEO
Han Sung Motor, the official Mercedes-Benz dealer in Korea, announced Friday that it will name Ulf Ausprung as its new chief executive.The new CEO’s 18 years of experience in automobile industry, which mainly focuses on sales and marketing, were decisive factors for him to be selected, the company said in a statement.His experiences encompass working in a variety of regions including China, where he worked as a senior manager at a local deaer for six years. The CEO also spent few years in the Mi
MobilityNov. 13, 2011
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Apple not to outdo Samsung in Q4 smartphone sales: report
Apple Inc. may find it difficult to overtake Samsung Electronics Co. as the top global smartphone vendor in the fourth quarter of this year, a market report showed Sunday.Samsung, the world's No. 2 handset maker, dethroned Apple in the third quarter in smartphone shipments, becoming the top smartpho
TechnologyNov. 13, 2011
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Korean wave has impact on overseas product sales: poll
(Yonhap News)The popularity of Korean pop culture is exerting a positive influence on overseas sales of locally made products, a poll conducted by an international traders association showed Sunday.The Korea International Trade Association (KITA) said a survey conducted on 1,173 people from Japan, C
Nov. 13, 2011
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Apple customers complain software update didn’t fix battery
Apple Inc. customers say devices with the new iOS 5 operating system are still suffering from weak battery life, even after the company issued a software update meant to fix the malfunction. An advertisment for the Apple Inc. iPhone 4S is displayed at a Sprint Nextel Corp. store in Palo Alto, Califo
TechnologyNov. 13, 2011
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Monti tipped to lead Italy after Berlusconi quits
ROME (AFP) - Italy starts forming a new government Sunday after the momentous resignation of Silvio Berlusconi, with economist Mario Monti tipped as the man to lead the country through its debt crisis.In this July 17, 2002 file photo, European Union Commissioner for Competition Mario Monti speaking
Nov. 13, 2011
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Innovative cholera vaccine receives WHO stamp of approval
An innovative oral vaccine that can be used to prevent and control cholera around the world has received a stamp of approval from the World Health Organization (WHO), a Seoul-based international health research institute said Friday. The International Vaccine Institute (IVI) said its joi
TechnologyNov. 11, 2011
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Businesses target style-conscious men
On a weekday afternoon, men populate the sixth floor of Shinsegae Department Store in Banpo-dong, southern Seoul, which has recently been renovated in a push for more male customers. Many of them shop alone or with their male friends ― a rare scene in Korea where mothers, wives or girlfriends still dominate purchases of men’s fashion.“Women used to stroll through the men’s floor on weekdays and then bring their sons or husbands on weekends for a quick purchase,” said Lee Sang-heun, a sales manag
IndustryNov. 11, 2011
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Household finance squeezed with growing debt: report
A government report showed Friday a steep deterioration in household finances, citing a much faster rate of debt growth than asset increases.A joint report by the Statistics Korea, the Bank of Korea, and the Financial Supervisory Services said the average household debt expanded 12.7 percent to 52.05 million won ($46,143) for a year ending March, outgrowing the 7.5 percent expansion of total assets to 297.65 million won per household on average.People with mortgages saw a particularly tight sque
Nov. 11, 2011