Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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FSS chief apologizes over irregularities in hiring
The chief of the Financial Supervisory Service apologized Tuesday over the financial regulator's alleged irregularities in hiring employees with ties to influential figures, including politicians and bankers.The FSS has been under fire after state auditors found last month that a senior FSS official gave a special favor to some job candidates who are relatives of a then lawmaker and a top financial executive between late 2015 and early 2016. Choe Heung-sik, governor of the FSS, made the apology
EconomyOct. 17, 2017
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Passengers to have security interview at airport for US visit
All passengers bound for the United States will be required to undergo a security interview at airports in their countries amid growing concerns about terrorist attacks, the transport ministry said Tuesday.On June 28, the US Transportation Security Administration asked airlines across the world to carry out a thorough security check of passengers bound for the US through interviews and screening, the Ministry of Land, Infrastructure and Transport said in a statement."Local passengers who travel
IndustryOct. 17, 2017
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LG Electronics donates voice-command washers to visually impaired
South Korea's major home appliances maker LG Electronics Inc. said Tuesday it donated washers equipped with voice-recognition systems to the visually impaired.Under the agreement with the Korea Blind Union, LG said its high-tech washers were installed at 15 welfare centers for the blind across the country.The donation comes in line with the international White Cane Safety Day, which falls on Oct. 15 every year, to raise social awareness of the rights of the visually impaired, LG added. An image
TechnologyOct. 17, 2017
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Koreans rank 8th in mobile data usage among OECD member states: report
South Koreans used an average 3.83 gigabytes of data with their smartphones per month last year to rank eighth among member states of the Organization for Economic Cooperation and Development, a report showed TuesdayAccording to the OECD report, Finland was No. 1 with the monthly data usage by smartphones standing at 10.95 GB in 2016, followed by Latvia with 8.21 GB, Austria with 6.28 GB, Sweden with 4.38 GB, Denmark with 4.37 GB, Estonia with 4.13 GB and Iceland with 3.92 GB.Among the surveyed
TechnologyOct. 17, 2017
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Stocks open higher on overnight US gains
South Korean stocks opened higher Tuesday, taking a cue from overnight gains on Wall Street, with market leader Samsung Electronics Co. continuing to increase.The benchmark Korea Composite Stock Price Index climbed 4.64 points, or 0.19 percent, to 2,484.69 in the first 15 minutes of trading. Market kingpin Samsung Electronics was 0.93 percent up after it released upbeat earnings guidance for the third quarter.SK hynix, a major chipmaker, also soared 1.54 percent.In contrast, Hyundai Motor, the N
MarketOct. 17, 2017
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Regulator to check financial health of securities firms aspiring
The head of South Korea's financial regulator said Monday that financial health is one of key requirements in allowing five leading securities firms to start investment banking businesses. Choi Jong-ku, chairman of the Financial Services Commission, made the comments during a parliamentary session after being asked about concerns that a massive amount of funds could flow into large investment banks that sell investment management accounts (IMAs).
MarketOct. 16, 2017
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Former French minister visits border station
GWANGMYEONG -- The city of Gwangmyeong, just south of Seoul, said Monday former French Minister for Government Reform and Simplification Jean-Vincent Place expressed support for South Korea's efforts to build a railway connection with North Korea and Eurasia. Gwangmyeong Mayor Yang Ki-dae (L) talks with former French Minister for Government Reform and Simplification Jean-Vincent Place during their trip to Dorasan Station, South Korea's northernmost station, which lies in the border town of Paju,
IndustryOct. 16, 2017
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Air traffic growth in NE Asia to be driven by LCCs: Boeing
Air traffic growth in the Northeast Asian region will be mainly driven by LCCs, according to an executive from airplane maker Boeing.“As we look at growth in the future, we expect that growth to be driven by airlines in the emerging and developing economies, as well as low-cost carriers,” Randy Tinseth, vice president of marketing for Boeing Commercial Airplanes, told reporters at Boeing‘s offices in Seoul on Monday.Together, the air travel traffic in Korea, Japan and Taiwan are expected to grow
IndustryOct. 16, 2017
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New iPhones to reach Korean market on Nov. 3
US tech giant Apple Inc. plans to start sales of the iPhone 8 in South Korea on Nov. 3, industry sources said Monday, with preorders kicking off later this month.According to the sources, South Korea's three mobile carriers plan to start preorders for the iPhone 8 on Oct. 27.Apple earlier started sales of the new smartphones in the United States, Japan and China last month.While the local price has not been released yet, industry watchers said the 64 GB iPhone 8 is expected to come with a price
TechnologyOct. 16, 2017
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Crucial chance for Samsung to acquire tech breakthrough
(Samsung Electronics Newsroom)The Samsung Developer Conference scheduled for this Wednesday in San Francisco is drawing more attention than ever from industry observers with questions about how the hardware-oriented tech titan will break through current technological limits in the face of a sudden leadership change. This will be also the first major global event for the tech giant since its Vice Chairman Kwon Oh-hyun announced his surprise resignation Friday, citing the firm’s need to break from
TechnologyOct. 16, 2017
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[Monitor] How will this administration do?
According to data by the Bank of Korea and Statistics Korea, the economic growth rate has continued to decrease in the past decades throughout three different administrations, dropping significantly from around 5 percent of growth rate recorded in the 2000s. The Moon Jae-in administration has vowed to surpass the 3 percent growth rate, with experts advising strategic moves to enable new growth engines beyond the lagging competition in the auto and steel industries.
EconomyOct. 16, 2017
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[News Focus] Can Lee Jae-yong control Samsung from behind bars?
With the resignation of Samsung Electronics’ practical commander in chief Kwon Oh-hyun on Friday signaling a large-scale personnel reshuffle, eyes are zeroing in on the group’s jailed heir Lee Jae-yong and how possible it would be for him to strategize, control and direct future steps from his cell.According to experts who have studied Samsung and South Korean chaebol closely for years, there were cases of so-called “in-prison management” in the recent past, and it is highly likely for the 49-ye
IndustryOct. 16, 2017
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Seoul stocks rise to new all-time high
South Korean stocks rose to a new all-time high Monday on gains in steelmakers and telecoms, market analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index gained 6.43 points, or 0.26 percent, to close at 2,480.05, after rising to as much as 2,487.71 at one point.Trade volume was moderate at 223 million shares worth 6.1 trillion won ($5.41 billion), with losers outnumbering gainers 411 to 394.The local stock market opened higher as top market cap
MarketOct. 16, 2017
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Moon urges efforts to reduce work hours, create more jobs
President Moon Jae-in reiterated the need to reduce the country's working hours Monday, noting that long hours not only reduce people's quality of life but also cause unnecessary accidents.The president's remarks came in a weekly meeting with his top aides at the presidential office Cheong Wa Dae."We must no longer accept a society that thinks long work hours and overwork are natural. Among countries with an employment rate of more than 70 percent, no country has annual working hours of mor
EconomyOct. 16, 2017
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Investment abroad soars amid domestic slump
South Korean manufacturing companies’ investments abroad have been increasing at a rapid pace in contrast to sluggish corporate activity at home.Overseas investments by local manufacturers in the first quarter of this year jumped 115.2 percent from a year earlier to $11.4 billion, according to recent data from the Organization for Economic Cooperation and Development.The increase rate exceeded 75 percent for Germany, 56.2 percent for Japan and 41.3 percent for the US, as well as the OECD a
EconomyOct. 16, 2017
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US congressmen urge Trump against ‘drastic’ changes to FTA
Following Seoul and Washington’s decision to begin talks on possibly modifying certain aspects of the Korea-US Free Trade Agreement, US congressmen appeared unanimous that the US president should avoid making any drastic amendments that would jeopardize bilateral relations, though the trade deal has its flaws. According to the US House of Representatives on Monday, the House Ways and Means Committee launched a hearing on “Opportunities to expand US trade relationships in the Asia-Pa
EconomyOct. 16, 2017
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Over 1 in 10 Korean stocks hit records: KRX
More than 1 in 10 stocks in South Korea’s markets hit an all-time high in closing price this year, while losers outnumbered gainers on both the Kospi and Kosdaq, amid unprecedented rallies mainly led by giants, according to data from market operator Korea Exchange on Monday. Of 2,023 active common and preferred shares listed through 2016 on both the broad-based Kospi and tech-heavy Kosdaq, 237 had hit record-highs as of Wednesday.Among the 237 shares, about two-thirds, or 157, were o
MarketOct. 16, 2017
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Human-aiding robotics take center stage at Naver conference
From an autonomous robot that collects books displaced by customers from bookstore shelves to cable-based robotic arms with humanlike flexibility and control, cutting-edge robotics technologies took center stage at Naver Corp.’s annual developer’s conference Deview 2017 which kicked off in Seoul on Monday. Naver, which dominates Korea’s mobile and internet scene as the operator of Korea’s biggest portal website, has been looking to transform itself into a tech platform company that develops and
TechnologyOct. 16, 2017
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Daesung chairman hosts WEC assembly in Lisbon
Daesung Group Chairman Younghoon David Kim is hosting an executive assembly of the World Energy Council, a group of energy leaders around the world, in Lisbon, officials said Monday.As the chairman of WEC, Kim will preside over summits and conferences scheduled to be held for the four-day gathering. The assembly runs through Thursday, they added. Daesung Group Chairman Younghoon David Kim (World Energy Council)Kim will also deliver an opening speech to stress the role of the energy sector in tra
IndustryOct. 16, 2017
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Hyundai strengthens Genesis lineup to boost sales
Hyundai Motor Co., South Korea's largest carmaker by sales, said Monday it has strengthened its sub-brand Genesis lineup by adding a new model to help stimulate sales. The standalone brand launched the latest version of the G80 sedan equipped with either a 3.3-liter, a 3.3-liter turbo-charged, or a 3.8-liter gasoline engine, the carmaker said in a statement.The newly added model to the G80 lineup is a 3.3-liter powered car that fields a sporty look. The refreshed Genesis comes with all the safe
MobilityOct. 16, 2017