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Business
Hyundai Motor chairman calls for emergency mode
Hyundai-Kia Automotive Group Chairman Chung Mong-koo Monday urged heads of the group’s overseas branches to find ways of minimizing any impact the eurozone debt crisis could have on the group’s sales across Europe and other regions. “We should prepare for measures in advance to cope with the possibility that the…
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Seoul, Moscow to discuss 6-way talks today
A senior Russian nuclear negotiator will hold talks in Seoul today to discuss how to handle North Korea amid ongoing tensions over its nuclear program, officials said. Grigory Logvinov, deputy chief envoy to the stalled six-party talks on Pyongyang’s nuclear program, will meet with Lim Sung-nam, Seoul’s top nuclear envoy…
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Business
LG CNS, HP team up for China business
LG CNS, a local provider of technology solutions, said Monday that it has struck a business tie-up with U.S.-based Hewlett-Packard (HP) to boost the Korean firm’s profile in China. In a statement, LG said it signed a non-binding memorandum of understanding (MOU) with HP for closer collaboration on smart-related businesses…
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Uncertainty lingers on future of Hi-Mart
MBK Partners, the country’s largest private equity fund (PEF), has been selected as the preferred bidder for Hi-Mart ahead of retail giant Lotte Group. But analysts say it would have been better for the country’s largest electronics retailer to be acquired by Lotte because the marriage would create much-needed synergy…
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Society
2,000 truckers go on strike
Some 2,000 unionized truck drivers went on strike Monday, raising fears that the country’s cargo transportation will suffer serious disruption if prolonged. No major disruptions were reported at major ports, but the Korean Cargo Transport Workers’ Union has threatened to block traffic coming in and out of them. The government vowed…
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Social Media and the Arab Spring
[The East-West Wire] SEOUL — Speaking at a pace that mirrored the speed of a Twitter feed, Riyaad Minty, head of social media for Al Jazeera, shared lessons from the Arab Spring with more than 300 journalists at the East-West Center’s 2012 International Media Conference on 22 June at Yonsei…
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Business
Property market swooning
The government has introduced new policies to stimulate the housing market seven times in the past 18 months in an unapologetic display of desperation and kitchen-sink policymaking. But the ongoing dearth of transactions has critics wondering whether officials have been operating on a dead patient. To get across the sorry…
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Business
‘Visible hand’ beaten
Court rules against government measure to regulate large retailers The government is under fire for its hasty measures to limit the operating hours of large retailers in an attempt to protect small stores, as the court has ruled that the new regulation is illegal. The government introduced a series of…
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Business
Blade & Soul gets even with Diablo 3
NCsoft’s new massive multiplayer online role-playing game (MMORPG) Blade & Soul started an open beta test Thursday and was virtually level with Blizzard’s Diablo 3 in popularity over the weekend. According to game research firm Gametrics, as of Sunday morning, Blade & Soul held 17.38 percent for Internet cafe user…
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Politics
US, N. Korea sowed seeds of doubt
Six decades ago, the U.N. forces led by the United States fought against the North on Korea battlefields, not only with guns but also with thought tactics to defeat the enemy with fewer causalities. Psychological warfare such as propaganda leaflets, posters, and radio shows were widely used during the bloody…
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