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Chinese nationals, company indicted in US over NK sanctions evasion
US voices strong support for S. Korea, Japan after 'airspace incursions' by...
Boris Johnson wins race to become UK's next prime minister
BOK chief says another rate cut possible
Foreign visitors to S. Korea jump 15 pct in June
2 Koreas to discuss Japan’s wartime forced labor, sexual slavery in Manila
S. Korea fires warning shots at intruding Russian warplane
Seoul lodges complaint with Russia over airspace intrusion
LG Display plans W3tr investment to push forward OLED TVs
[Graphic News] Eco-friendly car exports soar in part 7 years

Jul 23, 2019 Finance

BOK chief says another rate cut possible

Bank of Korea (BOK) Gov. Lee Ju-yeol hinted at an additional rate cut Tuesday, less than a week after the central bank slashed the key rate to help spur growth in Asia's fourth-largest economy."(BOK) maintains its stance that it will take measures if necessary, depending on the (rate of) economic growth," Lee said while speaking in front of the parliamentary finance committee. Lee's remarks came five days after the central bank cut the key rate by 25 basis points to 1.50 percent despit

LG Display plans W3tr investment to push forward OLED TVs

LG Display announced Tuesday it has invested an additional 3 trillion won ($2.5 billion) in the 10.5-generation line for organic light-emitting diode panels at its P10 factory in a bid to expand the market presence of large-sized OLED screens. The world’s biggest OLED panel maker will execute the investment with an aim to increase the monthly production capacity of the newest line located in Paju, Gyeonggi Province, to 45,000, starting from 2023. The Gen 10.5 plant was built to manufacture

Today
Technology
[Graphic News] Eco-friendly car exports soar in part 7 years

South Korea’s shipments of environment friendly vehicles jumped an average of 33 percent annually in the past seven years on growing overseas demand, an auto business lobby group said.Local carmakers exported 196,000 eco-friendly vehicles in 2018, up from 35,000 units in 2012. Eco-friendly cars accounted for 8 percent of the country’s overall vehicle exports last year, up from 1.1 percent six years earlier, according to data from the Korea Automobile Manufacturers Association.

Jul 23, 2019
Automode
AI tech used to battle spycam video crimes

The South Korean government has begun to use artificial intelligence technology in its fight against illegal sex videos.The state agencies said Monday that they have started applying the AI technology to search and delete illicit sex videos shared on the internet. The technology has been adopted by the Gender Equality Ministry’s center for supporting victims of cybersex crimes.The center expects the new AI solution to help shorten the time in finding and removing sex crime videos, also kno

Today
Technology
Foreign investors on buying spree of Korean stocks amid trade row with Japan

Overseas investors have been on a buying spree of South Korean stocks this month, despite a dampening mood from the escalating Seoul-Tokyo trade row, data showed Tuesday. According to the Korea Exchange, foreign investors net purchased stocks on the benchmark Kospi worth nearly 1.8 trillion won ($1.5 billion) from July 1 to Tuesday. Separate data compiled by local brokerage Yuanta Securities showed that Korean stocks were the most popular among those categorized as emerging markets. Foreign inve

Today
Finance
Posco’s operating profit down 15% in Q2

South Korean steelmaker Posco posted an operating profit of 1 trillion won ($848 million) in the second quarter this year, buoyed by its lucrative infrastructure and trade operations despite the sluggish steel business, the firm said Tuesday. The company also posted 16.3 trillion won in sales, with a net profit of 681 billion won. Sales rose 1.5 percent, but operating profit and net income declined 14.7 percent and 14.7 percent on-year, respectively. The decline was mainly due to its sluggi

Today
Industry
Sale process of Asiana Airlines to begin this week

Creditors and Kumho Industrial, the largest stakeholder of Asiana Airlines, will post a public notice to sell the nation’s second-largest air carrier on Thursday, which is likely to be the largest deal of the year.After completing a financial review of the air carrier, creditors said they would speed up the bidding process, if no additional insolvent factors or problems that would complicate the company’s operations are found. Officials at Asiana Airlines confirmed that there’s

Today
Industry
Celltrion prepares for direct sales in Australia

Korean biopharmaceutical company Celltrion’s distribution arm Celltrion Healthcare said Tuesday that it has joined Australia’s Generic and Biosimilar Medicines Association to prepare for direct sales of its biosimilars Truxima and Herzuma in the country.Celltrion Group’s three main biosimilars -- Remsima, Truxima and Herzuma -- are currently estimated to be worth 330 billion won ($280 million) in the Australian market. Autoimmune diseases treatment Remsima was launched as Infle

Today
Industry
LG CNS teaches coding to young people

LG CNS will provide free coding training to elementary and middle school students from Tuesday at Sejong University as part of its corporate outreach, the company said Tuesday.The four-day, three-night “IT Dream Project” is LG CNS’ yearly summer project that began in 2017. LG CNS has so far provided the program to some 7,500 middle school students across 60 schools in Korea.“The advent of mandatory coding classes from elementary school has led to a market for costly priva

Today
Industry
Market analysts forecast retail industry sales dip in Q2

Market saturation, competitive delivery service cited as reasons

Today
Industry
BOK chief hints at additional cut of growth outlook amid Japan factor

Bank of Korea Gov. Lee Ju-yeol said Tuesday that the central bank could consider an additional cut of the country’s growth outlook for this year, should the ongoing trade tensions with neighboring Japan expand.“If (Japan’s export curbs) worsen and such consequences have not sufficiently been reflected in the (recently revised) economic outlook, they will certainly deliver a negative impact on our economy,” Lee said in a briefing session of the parliamentary strategy and f

Today
Economy
LG Chem recruiting innovative tech ideas from around world

LG Chem said Tuesday the company is holding the second Global Innovation Contest to discover new technologies and ideas from universities and institutes around the world. The South Korean petrochemicals and energy solutions developer started receiving innovative ideas in the fields of petrochemicals, electronic batteries, advanced materials and biotechnology. Recruitment will run until Sept. 30. Graduates and professional researchers in the aforementioned fields are eligible to apply for the con

Today
Technology
[Herald Interview] Royal Salute goes younger with modern twist to lineup

It is no easy decision for a brand to abandon its original concept and transform a product lineup, especially when it comes to a luxury whisky.Royal Salute, whose distillery dates back to 1801, is best known for being the only scotch whisky in the world with a lineup that begins from 21 years of maturity. The Royal Salute 21 Year Old was launched in 1953 to commemorate the coronation of Queen Elizabeth II, named after the traditional 21-gun salute.Making a twist to its rich heritage, the br

Jul 23, 2019
Industry
S. Koreans use social media more for entertainment than communication: survey

More South Koreans are utilizing social media for sources of entertainment contents than as a means of communications with friends, according to a report released by DMC Media on Monday.According to the survey conducted on 1,000 people here aged between 20 and 60 over the last month, “viewing casually entertaining contents,” selected by 64 percent of the respondents, was the most popular reason for using social media. Other popular reasons for visiting social media platforms included

Jul 23, 2019
Technology
S. Korea gears up for financial market contingency plan amid Japan factor

In response to the escalating economic conflict between South Korea and Japan, financial authorities here are establishing a contingency plan in case Tokyo expands its trade restrictions to the financial sector, officials said Monday.The preemptive gesture came out of concern about the apparent dependency of local financial companies on Japanese lenders, which have been offering a low interest rate for years. The total amount of Japanese money circulating in Korea’s financial market was es

Jul 23, 2019
Economy

The Korea Herald by Herald Corporation

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Date of registration : 2015.04.28
Publisher. Editor : Kwon Chung-won
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