Most Popular
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[Weekender] Geeks have never been so chic in Korea
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[KH Explains] Why Korea's so tough on short selling
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Actors involved in past controversies return first via streaming service originals
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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‘Kim desperately wanted to denuclearize,’ Moon writes in memoirs
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KT, NHN to join hands for Wi-Fi ad
Korea’s telecom titan KT Corp. and NHN Corp., the operator of Korea’s most-visited Web search engine, will set up a joint venture next month to offer mobile ads for wireless-fidelity users, the companies said Tuesday. KT and NHN Business Platform Corp., NHN’s affiliate providing ad sales and information technology infrastructure, will each invest 3 billion won ($2.76 million) in the joint venture,
June 14, 2011
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POSCO opens 1st overseas facility for processing steel thick plates
POSCO opened its first overseas thick-plate processing center in China on Tuesday. These are steel plates thicker than 6 millimeters used in shipbuilding and heavy equipment production.The center, POSCO-China Dalian Plate Processing Center or POSCO-CDPPC, is located on Changxing Island of the coast of Dalian in Liaoning province, Northeast China. “China was chosen for the site of the company’s fir
June 14, 2011
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Korea to build unmanned boats for research, surveillance
Korea plans to develop unmanned boats for maritime research and surveillance by investing 20 billion won ($18.5 million) over the next five years, the government said Tuesday.The automated boats will sail at a speed of up to 90 kilometers per hour within a 16 kilometers radius and avoid collisions with other vessels or obstacles, the Ministry of Land, Transport and Maritime Affairs said in a state
June 14, 2011
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Hyosung develops high-strength carbon fibers
Hyosung Corp., a Korean maker of chemicals and automatic teller machines, said Tuesday it has developed the country’s first high-strength carbon fibers, paving the way for the next-generation fabrics that are lighter, stronger and more elastic.The ultra-thin materials have stepped into the limelight in recent years as their low weight, high-tensile strength and temperature tolerance made them desi
June 14, 2011
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Samsung Electronics begins Olympic promotion
Samsung Electronics announced on Tuesday that it has begun its London Olympics promotion campaign. The promotion campaign sponsored by Samsung Electronics, which is the event’s official mobile telecom sponsor, will be held under the theme “Everyone’s Olympic Games.”The company also began the process of selecting the runners for the torch relay. Samsung Electronics plans to select young people from
June 14, 2011
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IMF bars Fischer from race for top job
June 14, 2011
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Hanwha, Merck sign license deal on biosimilar drug
Hanwha Chemical Corp., the country’s leading petrochemical firm, said on Monday it has reached a license agreement worth $720 million for its arthritis biosimilar with Merck Sharp & Dohme Research Ltd., a subsidiary of U.S. drugmaker Merck & Co.Under the deal, the two companies plan to develop and commercialize the drug candidate named HD 203 together. Merck secures its sales rights in all countri
June 13, 2011
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Korea Aerospace Industries celebrates its first export
Korea Aerospace Industries on Monday held a reception marking the export of its T-50 trainer jets to Indonesia.The T-50 is the country’s first supersonic jet developed in collaboration with the U.S. defense giant Lockheed Martin. The project took 2 trillion won ($1.8 billion) and 13 years to produce the T-50. T-50. (Korea Aerospace Industries)Under the $400 million contract, signed last month, wi
June 13, 2011
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Samsung Electronics, SKT most favored workplaces
Samsung Electronics and SK Telecom were picked as the best companies for people to work in a survey released by an economic consulting firm on Monday.The Korea Management Association Consultant said Samsung Electronics received the highest marks in manufacturing and SKT was rated No. 1 in service providers when selecting the top company to work for in Korea in a survey answered by 5,214 people.Sam
June 13, 2011
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POSCO’s China subsidiary completes plant expansion
Zhangjiagang Pohang Stainless Steel, a China-based stainless steel subsidiary of POSCO, on Monday completed the facility expansion project that pushes up its annual production capacity to 1 million metric tons.Located in Zhangjiagang, Jiangsu Province, Zhangjiagang Pohang Stainless Steel or ZPSS is 82.5 percent held by POSCO. The remaining 17.5 percent is held by China’s Shagang Group. POSCO also
June 13, 2011
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LGE commits to basics, quality
Electronics maker pledges further greenhouse gas emission cuts, labor rights promotionLG Electronics vice chairman and CEO Koo Bon-joon called for the electronics maker to commit to the basics in its sixth sustainability report issued last month, the Seoul-based company said on Monday.“The most important principle for a company to maintain its sustainability is essentially to secure competence in
June 13, 2011
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Machinery orders drop in Japan
Japan’s machinery orders fell for the first time in four months in April, an indication that companies are reluctant to spend after the March 11 earthquake and tsunami. Factory orders declined 3.3 percent in April from March, when they rose 1 percent, the Cabinet Office said Monday in Tokyo. Orders, an indicator of capital spending in three to six months, were projected to increase 1.7 percent, ac
June 13, 2011
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SKT short of savvy in overseas markets
Unsuccessful ventures eat into mobile carrier’s valueSK Telecom, the nation’s No.1 wireless service provider, has proved to be far from savvy when it comes to overseas ventures. After unsuccessfully knocking on the doors of numerous overseas markets including the U.S. and China for six years, the company was forced to call it a day. The failure was such that former SKT chief executive Chung Man-wo
June 12, 2011
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Hyundai Heavy to build world’s 1st offshore LNG storage unit
Hyundai Heavy Industries announced Sunday that it would build the world’s first floating storage and re-gasification unit for liquefied natural gas.A floating storage and re-gasification unit or FSRU is a vessel for storing liquefied natural gas at sea. It is connected to facilities on land by pipelines, through which re-gasified LNG is transferred.According to the company, it was awarded a $500 m
June 12, 2011
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Hyundai family eyeing Hynix Semiconductor
Hyundai powerhouses are reportedly interested in acquiring the 15 percent stake in Hynix Semiconductor that will be put up for sale later this month, financial sources said on Sunday. Among them, Hyundai Heavy Industries is seen as one of the most viable candidates, industry sources said. The biggest motivation for the company is its undying desire to gather all the Hyundai affiliates under one ro
June 12, 2011
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Shares likely to be range-bound
South Korean stocks are expected to trade in a narrow range this as investors step to the sidelines amid a lack of upward momentum and signs of a slowdown in the U.S. economy, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed last week at 2,046.67, down 3.16 percent from a week earlier.The KOSPI got off to a weak start at the beginning of the weak, as downbeat j
June 12, 2011
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Korea to pull out all stops against inflation
The government plans to make all-out efforts to stem growing inflationary pressure as South Korea faces potential difficulties in taming inflation in the second half, officials said Sunday.Finance Minister Bahk Jae-wan presided over a meeting with ministers on Friday to discuss ways to stabilize consumer prices where he suggested 22 policy steps, including the stable management of macroeconomic fa
June 12, 2011
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Seoul mulls public funds to rescue savings banks
South Korea is mulling injecting public funds to rescue ailing local savings banks in an effort to overhaul the troubled sector in the second half, sources said Sunday.The government is seeking to put seven teetering savings banks up for sale this year, whose operations have been suspended since January due to a pile-up in soured construction loans and weak capital positions.The Financial Services
June 12, 2011
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Emirates passengers slam response to delay
Emirates Airlines is in hot water over its response to a delayed flight from Incheon to Dubai.While the flight was delayed due to unforeseen circumstances, passengers for the flight complained that the company’s response was inefficient and unprofessional. According to one passenger, the company did not make a public announcement explaining the situation, and the explanations provided at the airpo
June 12, 2011
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U.S. urges Korea to press on Iran sanctions
The United States urged South Korea to press on Iran sanctions during a meeting of senior financial officials from the two countries Friday, a Seoul official said.Undersecretary David Cohen of the U.S. Treasury Department met Deputy Minister Choi Jong-ku of the South Korean Finance Ministry at the ministry building in Gwacheon, south of Seoul.The United States, along with the International Atomic
June 10, 2011