• 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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  • 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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  • Credit cards with bio-info to debut

    The state-run disaster control agency is working with a credit card company to issue cards that will contain biological information about holders to enable a quick and effective treatment in the event of an emergency. Heated debate concerning possible privacy violation and the consequences a leakage of such information could…

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  • Business

    Horse race parks become tourist attraction

    Horse racing tracks here have become a family-oriented leisure destination for both Koreans and foreign tourists as they offer not only races, but also a wide range of fun-packed events for people of any age. The Korea Racing Authority (KRA), the sport’s local governing body, organizes flat races with thoroughbreds,…

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  • Consumers yet to get full FTA benefit

    Six out of nine popular products imported from the Europe Union and nine of thirteen imported from the United States are available at cheaper prices thanks to Korea’s free trade pacts with the two giant markets, according to the state fair trade regulator. The Fair Trade Commission (FTC) underscored Thursday…

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  • Business

    Small biz struggle to make ends meet

    Poor self-employed emerge as time bomb Korea’s self-employed population is swelling like a balloon due to a decaying job market that has sidelined millions of people and forced them into starting their own businesses. With economic activity squeezed to a pulp, there is a rapidly growing intersection between low-income earners,…

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  • Business

    EU leaders at G20 vow to restore stability

    EU leaders at the G20 summit say they are committed to providing a detailed plan for stabilizing the eurozone. The G20 summit opened in the Mexican resort of Los Cabos on Monday with leaders of industrialized and developing countries discussing the global economy. Eurozone leaders said various measures have been…

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  • Business

    IMF ready to lend economic support to Greece

    WASHINGTON, June 17 (Xinhua) — The Washington-based International Monetary Fund (IMF) said on Sunday that it was ready to continue lending support to Greece’s economic growth and job creation efforts. “We take note of the election results in Greece and stand ready to engage with the new government on the…

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