Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul to more than double military drones by 2026 to counter NK threats
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Seoul alerts overseas missions to NK terror threats
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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LG, Samsung rev up connected car business
LG Electronics said Monday it had won safety certification for self-driving components by Germany-based testing service provider for quality and safety, TUV Rheinland, signaling the tech firm moving further into the automobile industry. LG said it received safety certification for advanced driver assistance and infotainment systems and vehicle display, to meet growing demand for the safety of self-driving vehicles. This is the second time the Korean tech firm has received safety certification re
TechnologyDec. 25, 2017
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Innovating service sector crucial to sustain growth
Korea needs to step up efforts to advance service industries to ensure sustainable economic growth amid mounting trade protectionism across the globe, economists here say.In terms of service sector competitiveness, the country remains near the bottom among member states of the Organization for Economic Cooperation and Development.According to OECD data, labor productivity of service industries was just 45.1 percent of that of manufacturing industries in Korea in 2014, far below 87.8 percent in F
EconomyDec. 25, 2017
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Homeplus holds charity events for those in need
Korean discount chain Homeplus is stepping up efforts to replace its year-end parties with charity events for those in need. “We decided to focus more on making social contributions to return the love we have received and to look after our neighbors in need. We will also make this social work last throughout next year,” said Lim Il-soon, chief executive of Homeplus. Lim Il-soon (first from left), chief executive of Homeplus, poses with Rep. Han Jung-ae of the Democratic Party of Korea and Choi D
IndustryDec. 25, 2017
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[Kosdaq Star] Crypto fear prompts Raonsecure recovery
This is the 47th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed.Raonsecure, a local mobile security solutions provider, had a year filled with a string of opportunities, as the government pushed to abolish the use of ActiveX from major websites and approved operations of mobile banks. But nothing seems to have pushed the price ceiling of the Kosdaq-listed company further than growing interest in one particular market -- cryptocurrency.On the back
MarketDec. 25, 2017
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Mirae Asset operates quarter of Korea's private pension fund
Mirae Asset Global Investment was managing over 300 private or retirement pension funds worth a combined 5.02 trillion won ($4.65 billion) as of November, a quarter of the domestic market, according to the firm Monday.The volume of the pension funds run by the asset management arm under Mirae Asset Group jumped more than fourfold in November from the end of 2010. The company managed private pension funds worth a combined 2.59 trillion won, while its retirement pension funds were worth
MarketDec. 25, 2017
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Jeju Air to operate more international flights in winter
Jeju Air will temporarily increase international flights for routes that tend to see a spike in demand during winter, the low-cost carrier said Monday. The flights will operate in and out of Jeju Airport and Cheongju Airport. There will be flights between Jeju and Manila in the Philippines between Friday and Jan. 1. (Yonhap)Three round trips between Jeju and Chiang Mai, Thailand, are scheduled in January. Five round trips between Jeju and Danang, Vietnam, are also planned in February.A total of
IndustryDec. 25, 2017
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Samsung C&T wins 455 bln won reclamation order in Hong Kong
Samsung C&T Corp., the construction unit of Samsung Group, said Monday it secured a 455 billion won ($420 million) land reclamation project in Hong Kong.In a joint venture with local company Build King, Samsung C&T received the order from Hong Kong's Civil Engineering & Development Department to reclaim land from the sea for a new town on northern Lantau Island, the company said in a statement. Mainland Chinese tourists pose for photos in front of Victoria Harbour and the skyline in Hong Kong on
IndustryDec. 25, 2017
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Total assets held by private insurers top 1,000 trillion won in 2016
Total assets held by South Korea's private insurers surpassed the 1,000 trillion won ($926 billion) mark in 2016, 94 years after the first firm started operations, industry data showed Monday.The 2016 insurance statistical yearbook released by Korea Insurance Development Institute, showed combined assets held by local insurance agencies reached 1,034.1 trillion won. The total includes 782.1 trillion won controlled by life insurers and over 252 trillion won in assets owned by non-life insurance c
IndustryDec. 25, 2017
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Lotte personnel appointments delayed after chief's suspended sentence
Lotte Group, a retail-to-chemical conglomerate, said Monday it will carry out its regular personnel appointments early next year after its chief received a suspended sentence for embezzlement and breach of trust. The delay comes as the Seoul Central District Court on Friday sentenced Lotte Group Chairman Shin Dong-bin to 20 months in prison with a two-year suspension of the charges.The court found the chairman guilty of letting his 95-year-old father's mistress run shops at Lotte Cinema movie th
IndustryDec. 25, 2017
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Korea's economy may achieve 3% growth in 2018: poll
South Korea's economy may be able to pull off 3 percent growth in 2018, although numbers may dip slightly from this year, a poll conducted on head of local think tanks predicted Monday.The six research institute chiefs said in the survey carried out by Yonhap News Agency, said exports that have fueled growth in2017 will likely trail off with facility investment and the construction sector also holding back the economy.New jobs to be created in the new year could reach around 300,000, which is a
EconomyDec. 25, 2017
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Monetary tightening to pose major challenge for S. Korea in 2018: experts
South Korea's six major economic institutes on Monday picked the global monetary policy tightening cycle as the biggest challenge for the economy next year. In Yonhap News Agency's poll of the heads of the country's six economic institutes, they expressed concerns that there might be an outflow of capital from emerging markets as the world's central banks look set to raise rates further as part of monetary tightening. "A massive amount of capital has been injected into emerging market
MarketDec. 25, 2017
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Flexible OLED sales surge fueled by market demand
Global sales of flexible organic light-emitting diode panels have surged amid strong market demand for premium mobile devices, industry watchers said Monday.According to business insiders here that checked data provided by IHS Markit, release of the newest smartphones that make use of curved screens is fueling recent growth.Numbers by the global market researcher showed that sales of flexible OLEDs have been breaking new records every quarter.Flexible displays are three times more expensive than
TechnologyDec. 25, 2017
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Petroleum refinery industry increasing investment, diversifying portfolio
South Korea's petroleum refinery industry is making large scale investments and diversifying their portfolios amid solid growth this year, market watchers said Monday.Observers said that the move comes as companies want to capitalize on recent gains and better insulate themselves from uncertainties going forward.S-Oil Corp., which is controlled by Saudi Arabia's Aramco, has set its eyes on completing its residue upgrading complex and olefin downstream complex in the first half of 2018. The compa
IndustryDec. 25, 2017
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S. Korea calls on U.S. to exclude S. Korean washers from remedy measure
South Korea has asked the United States to exclude South Korean washers from any remedy measure, noting that U.S. public interest will be hurt by the imposition of safeguard measures. “The Korean government would like to emphasize that safeguard measures should be taken with caution as they are imposed against fair trade,” said Yeo Han-koo, minister-counselor at the Korean Embassy in Washington, in a hearing brief that was submitted Dec. 11. He also said South Korean imports should be excluded f
IndustryDec. 24, 2017
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Growth of household financial assets hits record low
Growth of South Korean households’ financial assets reached an all-time low this year amid prolonged low interest rates, government data showed Sunday. The average financial assets of local households stood at 97.8 million won (US$90,600) as of the end of March, up a mere 1.5 percent from a year earlier, according to the data from Statistics Korea, the Financial Supervisory Service and the Bank of Korea. It marked the lowest on-year gain since 2012, when those agencies began compiling rel
EconomyDec. 24, 2017
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KOSPI forecast to stage new-year rally
South Korea‘s benchmark stock index is widely expected to stage a rally at the start of the new year following a recent downturn sparked by massive foreign selling, sources said Sunday. Foreign investors have been dumping South Korean shares this month to lock in gains in top-cap Samsung Electronics Co. and other tech issues, with their net selling reaching more than 1.8 trillion won (US$1.7 billion). Offshore investors’ heavy selling has sent the benchmark Korea Composite Stock Pri
MarketDec. 24, 2017
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Heads of major banks eye 3 pct growth for 2018: poll
The chiefs of South Korea‘s major commercial banks expect the economy to expand around 3 percent on-year in 2018 on brisk exports and a recovery in consumer spending, a poll showed Sunday. In written interviews with Yonhap News Agency, the heads of the lenders -- KB Kookmin, Shinhan, Woori, KB Hana and Nonghyup -- forecast Asia’s fourth-largest economy to continue its recovery pace in the coming year. South Korea‘s overseas shipments are projected to remain resilient thanks to
EconomyDec. 24, 2017
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Lotte chief gets suspended sentence, keeps leadership intact
Lotte Group chief Shin Dong-bin heaved a sigh of relief Friday as he was given a suspended sentence by a local court on charges of embezzlement and breach of trust, keeping in place his leadership over the nation’s largest retail giant. The court, however, sentenced his father and group founder Shin Kyuk-ho to four years in prison. He was not taken into custody because of his failing health. From left: Lotte Group Chairman Shin Dong-bin, Lotte founder Shin Kyuk-ho and former Vice Chairman Shin D
IndustryDec. 22, 2017
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Number of Chinese visitors dips for 9th straight month amid THAAD dispute
The number of Chinese tourists in South Korea declined 42.1 percent on-year in November, marking the ninth straight month of decrease following the diplomatic row between the two countries over the deployment of a US anti-missile system here, government data showed Friday.The tally of Chinese visitors came to 299,247 last month, according to the data by the Korea Tourism Organization.The overall number of visitors from the neighboring country in the January-November period stood at 3.83 million,
IndustryDec. 22, 2017
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Market views mixed over fate of chip boom
Debate on when the current boom in semiconductors will peak was refueled Friday, as Korean securities brokerages released lower-than-expected forecasts for Samsung Electronics’ fourth-quarter earnings. IBK Investment & Securities said in a report that Samsung would hit new highs in sales and operating profit in the fourth quarter, but the figures would be less than market expectations. IBK’s analyst Kim Un-ho forecast fourth-quarter sales of the tech titan would reach 65.8 trillion won ($61.2 bi
IndustryDec. 22, 2017