Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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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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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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Hopes rise for possible Gaza truce deal
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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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Kumho Tire releases new winter tires for sedans, SUVs
Kumho Tire, the nation‘s second-largest tiremaker, has released new tires designed for safer driving in the winter, the company said Sunday.The Wintercraft WP72 and WS71 are the sequels to Kumho’s signature winter tire products Wintercraft KW27 and I’Zen RV KC15, with the tiremaker having strengthened design elements and improved functionality. Kumho Tire's new Wintercraft WP72 and WS71 are presented. (Kumho Tire)Wintercraft WP 72 is a premium winter tire set for sedans that makes less noise, bu
IndustryOct. 15, 2017
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Samsung CEO’s sudden departure signals change, challenge
A surprise farewell announcement by a Samsung Electronics chief executive officer on the day the tech giant paraded another record-quarterly profit last week signals a generational shift within the tech giant leadership and also a change into a technology-focused, business-to-business company from a copycat appliance maker, experts in Seoul said Sunday.Kwon Oh-hyun, who led Samsung Electronics’ thriving chip business and has recently emerged as the public face of the tech giant, said Friday that
IndustryOct. 15, 2017
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[Kosdaq Star] Clinical-stage SillaJen rises to Kosdaq powerhouse
This is the 43rd in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdWhile the top-tier stock market is riding on the global IT boom, the second-tier bourse is strongly dominated by the biopharma technology sector, with pharmaceutical players accounting for seven out of the top 10 shares in market cap.Among the local pharmaceutical powerhouses, a clinical-stage biotech firm SillaJen is noted for its signature oncolytic virus Pexa-Vec.Less than 11 months
IndustryOct. 15, 2017
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Partnership for future
KT Chairman Hwang Chang-gyu (right) and SpaceX Chairman Elon Musk hold hands after a talk on co-launching the Mugunghwa 5A satellite later this month at the headquarters of SpaceX in Hawthorne, California on Thursday. KT announced Sunday the Korean mobile carrier and the US spacecraft builder will further cooperate on advancing autonomous driving and energy-related technologies. (KT)
TechnologyOct. 15, 2017
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Google adopts Korean firm’s fingerprint recognition module for Pixel 2 smartphones: sources
Google has adopted a fingerprint recognition module exclusively developed by CrucialTec based in South Korea for its upcoming Pixel 2 smartphone series, according to sources on Sunday. “CrucialTec is preparing to supply its fingerprint solution Biometric TrackPad for Google’s Pixel 2 series,” a source told The Korea Herald. “The Korean company has been a major supplier for past Google phones from the Nexus series to the predecessor Pixel 1.”CrucialTec is a biometric solution developer that was t
TechnologyOct. 15, 2017
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Card spending soars 35% during Chuseok holidays
Credit and debit card spending in South Korea soared more than 30 percent over the recent extended Chuseok holiday season from a year ago, industry data showed Sunday.A daily average of 191.8 billion won ($170.1 million) worth of purchases were made through credit and debit cards during the Sept. 30-Oct. 9 holidays, up 35.8 percent from the 141.2 billion won average tallied during the Chuseok holidays last year, which fell mid-September, according to the data compiled by KB Kookmin Card Co. The
EconomyOct. 15, 2017
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Korean, US financial chiefs discuss North Korea, FTA
The top financial policymakers of South Korea and the United States met Saturday on the sidelines of the Group of 20 Finance Ministers Meeting in Washington D.C. Finance Minister Kim Dong-yeon and Treasury Secretary Steven Mnuchin discussed pending issues including North Korea, the bilateral free trade agreement and the US report on currency manipulation, according to Seoul officials.They expressed concerns over Pyongyang's nuclear and missile provocations and agreed to enhance policy coordinati
MarketOct. 15, 2017
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Korea struggles to achieve 3% growth target amid signs of feeble recovery
South Korea is struggling to achieve its goal of 3 percent growth this year as skepticism grows over sluggish domestic demand and investment. Officials said the government is not considering stimulus measures for now, as it has already injected an extra 11 trillion won ($9.76 billion) into the economy in August. But it may come up with microeconomic measures to support vulnerable sectors if third-quarter growth is less than expected, they said. The data will be released late this month. "Th
EconomyOct. 15, 2017
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Hyundai, Kia's US market share drops to 8-yr low
Hyundai Motor Co. and Kia Motors Corp. saw their combined market share in the United States drop to an eight-year low, as their sales fell more than 10 percent in the first nine months of the year, industry data showed Sunday.The two leading automakers in South Korea sold 969,670 cars in the United States over the January-September period, down 10.2 percent from a year earlier.Their market share fell 0.7 percentage point on-year to 7.5 percent, marking its lowest level since 2009, when it hit 7
MarketOct. 15, 2017
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Duty-free shops still reeling from THAAD impact
South Korean duty-free shops are still smarting from China's retaliation against Seoul over the deployment of a US defense shield here with their profitability worsening despite rising sales, industry sources said Sunday.In mid-March, China banned the sale of group tours to Seoul in retaliation against the installation of a Terminal High Altitude Area Defense (THAAD) battery in southeastern South Korea, which Beijing sees as a security threat. The move has dealt a harsh blow to local duty-free s
IndustryOct. 15, 2017
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Nearly 190 firms delisted over 5 years
Nearly 190 companies have been delisted from the South Korean stock market over the past five years due to poor financial health or other reasons, data showed Sunday.A total of 189 firms, including the country's top shipping line Hanjin Shipping Co., were delisted from the country's main KOSPI and secondary KOSDAQ markets between 2012 and July this year, according to the data by the Korea Corporate Governance Service.Hanjin Shipping was delisted in March after being declared bankrupt the previou
MarketOct. 15, 2017
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MMFs see huge capital outflow amid stock rally
Investors in South Korea are scrambling to withdraw their money from short-term investment vehicles amid a recent stock market rally, data showed Sunday.Money market funds (MMFs) here had a combined 106.3 trillion won ($94 billion) under their management as of Tuesday, according to the data from the Korea Financial Investment Association.The withdrawals represent a 23 percent tumble -- worth 31.7 trillion won -- from an all-time high recorded May 17 this year amid high political uncertainties. (
IndustryOct. 15, 2017
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THAAD-hit S. Korean retailers turn to Southeast Asia
South Korean retailers are accelerating their push to tap deeper into the Southeast Asian market after they suffered a serious setback in China in the face of Beijing's economic retaliation over Seoul's deployment of a US anti-missile system, industry watchers said Sunday. On Tuesday, Lotte Group, South Korea's fifth-largest conglomerate, opened an online shopping mall in Indonesia together with local conglomerate Salim Group. The Korean firm said it set up a joint venture to combine Lotte's ret
IndustryOct. 15, 2017
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Samsung BioLogics becomes 7th-largest firm on main bourse
Samsung BioLogics Co. emerged as the seventh-largest firm on the main bourse in terms of market value, data showed Saturday, apparently bolstered by its brighter export outlooks.The South Korean biopharmaceutical company closed at 388,500 won ($344) on Friday, up 2.91 percent from the previous session, with its combined market capitalization estimated at 25.7 trillion won, the bourse operator Korea Exchange said. (Samsung BioLogics)Samsung BioLogics is the third-largest Samsung unit listed on th
IndustryOct. 14, 2017
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Moody's Analytics expects BOK to hold policy rate steady in October
South Korea's central bank is likely to hold its key rate steady this month as soft domestic demand could keep monetary policy accommodative in the near term, a leading provider of economic analysis said Saturday.The Bank of Korea is set to hold its rate review session Thursday to decide whether to keep or adjust the all-time low rate of 1.25 percent. Still, Moody's Analytics said in a report that the South Korean government's stimulus measures such as the proposed 7.1 percent on-year spending i
MarketOct. 14, 2017
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S. Korean shipyards forecast to report weak Q3 net on fewer orders
South Korea's major shipyards, led by Hyundai Heavy Industries Co., are projected to report weak earnings for the third quarter of the year, as they received fewer orders in recent years and built low-priced ships, industry sources said Saturday.According to the data compiled by FnGuide, a financial service provider, Hyundai Heavy is expected to report an operating income of 95.8 billion won ($85 million) during the July-September period, compared with the previous year's operating earnings of 3
IndustryOct. 14, 2017
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[Photo News] Shopping fever remains
Korea has a number of seasonal festivals for visitors to enjoy, but for shoppers and Hallyu fans, one golden opportunity may be the Korea Sale Festa, a monthlong shopping festival taking place through October.In recent months, a sharp drop in the number of Chinese group tourists here was considered a serious threat to this annual event, but popular shopping districts are seeing business pick up again.Taking the place of Chinese tourists are visitors from Southeast Asia and North America. Many ar
IndustryOct. 13, 2017
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US court temporarily dismisses Medytox’s BTX theft case against Daewoong
A US court has temporarily dismissed a lawsuit that South Korea’s botulinum toxin maker Medytox filed against its domestic rival Daewoong Pharmaceutical and its US partner Alphaeon Corp., claiming intellectual property theft.The Superior Court of California in Orange County on Thursday ruled that the case should be settled in Korea, the country where the issue initially emerged. It will review the case again on April 13, 2018, after Korea’s courts makes a decision on the case.Medytox released a
IndustryOct. 13, 2017
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Korea, China renew currency swap deal worth W64tr
Despite still-unresolved political and economic tensions over an anti-missile system deployment, Seoul and Beijing have agreed to renew their currency swap deal worth 64 trillion won ($56.9 billion) for another three years, Bank of Korea Gov. Lee Ju-yeol and Finance Minister Kim Dong-yeon told reporters in Washington on Friday. The two finance officials are currently in Washington to attend a meeting of G-20 finance ministers and the annual meeting of the International Monetary Fund and the Wor
MarketOct. 13, 2017
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[Herald Interview] Analytic tools crucial in improving regulatory practices: US adviser
Amid Korea’s continued strive for increased transparency and regulatory business reforms, the Fair Player Club and US Embassy Seoul hosted a joint seminar on better regulatory compliance in Seoul on Thursday. The seminar invited keynote speaker Aaron Szabo, senior adviser for International Regulatory Cooperation of the Office of Information and Regulatory Affairs in Washington, who shared the US’ approach for establishing analytic tools for regulatory design and review. “The
EconomyOct. 13, 2017