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Single malt whisky, what is all the fuss about?

Food&BeverageJan 27, 2012

In South Korea, whiskey has long held onto a steadfast position as a popular libation for business and social gatherings. Mixed with beer as a “poktan” drink or served up on the rocks or straight, the spirit maintained a secure position in the alcohol market that appeared unshakable. Then the makgeolli boom took off several years ago and the shift from whiskey-formulated “poktan” drinks to soju-based concoctions took a chunk out of the industry pie. Rather than proclaim the imminent death of the
Monty Python members to re-unite for new film

FilmJan 27, 2012

LOS ANGELES (AFP) ― Members of iconic British comedy group “Monty Python” will re-unite for a new film, a science fiction farce, ex-Python Terry Jones said in comments published Thursday.“Absolutely Anything” will not be a Python film as such, but key members of the gang, John Cleese, Michael Palin and Terry Gilliam, are involved, said Jones, who will direct the movie.U.S. comic Robin Williams will also lend his voice to the film, which will combine animation and live action, while producers are
CJ E&M brings curtain down on successful Chinese version of ‘Mamma Mia’

TheaterJan 27, 2012

HONG KONG (Yonhap) ― South Korea’s CJ E&M Corp. said Wednesday its Chinese joint venture has brought the curtain down on the Chinese version of the global hit musical “Mamma Mia!” after successfully running for the last six months in China.United Asia Live Entertainment Co., a joint venture established among CJ E&M, China Arts and Entertainment Group, and Shanghai Media Group, staged the Chinese version of “Mamma Mia!” in the six Chinese cities of Shanghai, Beijing, Guangzhou, Wuhan, Chongqing a
Tampa Bay Bucs hires new coach

More sportsJan 27, 2012

TAMPA, Florida (AP) ― The Tampa Bay Buccaneers hired Greg Schiano as head coach on Thursday, counting on the former Rutgers college coach to lead them back to respectability and transform the team into consistent winners.The 45-year-old was hired Thursday ― a media conference was scheduled for Friday ― three weeks after the Buccaneers fired Raheem Morris following a 4-12 finish that included letting in the most points in the NFL this season.“Coach Schiano is a bright, meticulous teacher who know
Valencia eliminates Levante, to face Barca

SoccerJan 27, 2012

VALENCIA, Spain (AP) ― Valencia advanced to a meeting with Barcelona in the Copa del Rey semifinals after beating Levante 3-0 thanks to Pablo Piatti’s double on Thursday for a 7-1 aggregate score.Piatti, who has had a subdued role for Unai Emery’s side since his arrival this summer from Almeria, played his best game of the season.The Argentine forward provided a constant threat for the visitors at Ciutat de Valencia Stadium and drew various fouls from Levante’s frustrated defense.Piatti saw his
Soccer executive offers to resign over scandal

SoccerJan 27, 2012

A high-ranking football official offered to resign on Friday over a corruption scandal involving a dismissed junior colleague.In a statement, Kim Jin-kook, executive director at the Korea Football Association, said he had “no intention of staying in his post” if it hindered development of local football or unity of the KFA.On Thursday, Kim came under fire for paying a former KFA employee a large settlement on his way out, after the employee threatened to disclose corruption within the KFA.The em
Nadal downs Federer again

More sportsJan 27, 2012

Spaniard continues dominating his archrival, realizes finals ‘dream’MELBOURNE (AFP) ― Spain’s Rafael Nadal extended his mastery over Roger Federer Thursday when he came from a set down to win a gripping Australian Open semi-final.In a rematch of the 2009 final, Federer opened like a train but he was gradually reeled in by the tenacious Nadal to suffer his fifth straight grand slam defeat to his great rival, 6-7 (5/7), 6-2, 7-6 (7/5), 6-4.“For me it’s a dream to be back in the final,” said a smil
Travel retail market shows no sign of abating

IndustryJan 27, 2012

Incheon Airport tops duty free sales globallyLouis Vuitton conducted an unprecedented experiment in Korea last year, opening its first airport store at Incheon International Airport. The French fashion house with 158 years of history had long refused to be situated at any airport, citing difficulties in offering the best shopping experience to its customers. The airport’s quality facilities and services aside, the luxury ambience of Korean duty free shops and the geographical proximity to the so
Confidence for Feb. manufacturing up

Jan 27, 2012

South Korean manufacturers’ business confidence for February inched up on the back of easing eurozone fears but still remained close to a more than 2-year low amid lingering uncertainties, the central bank said Friday.The index of manufacturers’ outlook on business conditions reached 81 for February, up from 79 for January, according to a monthly survey by the Bank of Korea. The index measures manufacturers’ expectations for the coming month.The figure marks a recovery from January when it hit i
Korea’s consumer sentiment hits 10-month low in Jan.

Jan 27, 2012

South Korean consumer confidence fell to its lowest level in 10 months in January as persistent public debt concerns in Europe and the standoff over Iran’s nuclear ambitions fueled economic uncertainties, the central bank said Friday. The consumer sentiment index, which gauges consumers’ overall economic outlook, living conditions and future spending, fell 1 point from the previous month to 98 for January, according to a survey by the Bank of Korea. The January figure marked the lowest level sin
LG Display’s loss narrows in Q4

IndustryJan 27, 2012

LG Display Co., the world’s second-largest maker of liquid crystal display (LCD) panels, said Friday that it logged a smaller net loss in the fourth quarter from a year earlier.Net loss amounted to 6.25 billion won ($5.57 million) in the October-December period, smaller than a 268.4 billion won loss a year ago, the company said in a regulatory filing.The fourth-quarter figure also narrowed from a record net loss of 688 billion won in the third quarter, according to LG Display, which vies with to
Hynix well-positioned for new era of mobile devices: report

IndustryJan 27, 2012

HONG KONG (Yonhap) -- South Korea‘s Hynix Semiconductor Inc. is well-positioned for the new era of mobile devices driving the growth of memory chip markets, as it can supply a total memory solution for mobile gadgets, a report said Friday.BNP Paribas said in its report that Hynix Semiconductor is one of the few manufacturers that fit that new era, raising the target price for Hynix to 34,000 won ($30.2) to 30,000 won. “The three decades of personal computer (PC)-driven dynamic random access memo
Gov‘t, central bank concerned about slowing export growth

Jan 27, 2012

South Korea’s exports will likely grow at a much slower pace in 2012 than last year as the eurozone debt problems and the global economic slowdown could weaken demand, the finance ministry and the central bank said Friday.The government needs to push for export-boosting measures tailored to each country and beef up efforts to diversify its export markets, according to a statement unveiled after the ministry and the Bank of Korea held a consultation meeting.The meeting was attended by Vice Financ
Seoul shares end up 0.39% on increased foreign buying

Jan 27, 2012

South Korean stocks finished 0.39 percent higher on Friday, as overseas investors extended their buying spree despite the country’s weak growth data, analysts said.The local currency fell against the U.S. dollar. Extending a winning streak for a fifth consecutive session, the benchmark KOSPI rose 7.65 points to 1,964.83. Trading volume was moderate at 442 million shares worth 6.03 trillion won ($5.37 billion) with gainers leading losers 492 to 331. Even though the KOSPI has posted gains for five
Samsung Q4 profit surges 17% on smartphones

TechnologyJan 27, 2012

Samsung Electronics said Friday its fourth-quarter earnings surged 17 percent from a year earlier on the back of stronger sales in smartphones and flat screens.The technology giant’s net income reached 4 trillion won ($3.5 billion) in the October-December period, registering the largest gain since the third quarter of 2010. Revenue went up 13 percent to an all-time high of 47.3 trillion won and operating profit climbed 75.8 percent to 5.3 trillion won in the same period. The figures were largely