Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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'Queen of Tears' riding high on Netflix chart
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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Korean airlines to hire 3,000 pilots by 2022
Local South Korean airline carriers plan to train and hire 3,000 pilots by 2022 to meet growing demand, the transport ministry said Monday.The move is designed to help meet rising demand for airline service as an increasing number of Koreans opt to travel abroad. Currently, low-cost carriers offer flights mainly on Asian routes at reasonable prices, driving up overseas travel demand. (Yonhap)As the country's eight airlines plan to add 152 planes to their fleets during the 2018-2022 period, they
IndustrySept. 26, 2017
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Hyundai, Kia to debut new cars in China to tackle sliding sales
South Korea's leading automakers Hyundai Motor Co. and Kia Motors Corp. are poised to unveil a series of new cars in China in a bid to help revive slumping sales in the world's top auto market, sources said Tuesday.Industry leader Hyundai Motor and its smaller affiliate Kia Motors have been struggling with plunging sales in China since late last year due to a Seoul-Beijing row over the deployment of an advanced US missile defense system here, which China considers a security threat. This photo p
MobilitySept. 26, 2017
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Korean stocks open lower on US losses
South Korean stocks opened lower Tuesday, tracking overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index fell 7.14 points, or 0.3 percent, to 2,373.26 in the first 15 minutes of trading. Most large caps traded mixed, with market kingpin Samsung Electronics losing 1.72 percent and global chipmaker SK hynix shedding 2.78 percent.In contrast, leading steelmaker POSCO gained 1.46 percent, and No. 1 automaker Hyundai Motor gained 2.13 percent.US stocks d
MarketSept. 26, 2017
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S. Korea's commerce minister allays fear over N. Korea
South Korea's commerce minister said Tuesday the nation's economic fundamentals remain sound despite North Korea's provocations, and called on foreign enterprises doing business here to increase their investments. Paik Un-gyu, the chief of the Ministry of Trade, Industry and Energy, said in a meeting with local directors of international companies, including Boeing, 3M, IKEA, BMW and Oracle, that there is no need to be overly worried about Pyongyang's latest provocations. The policymaker then ex
EconomySept. 26, 2017
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Consumer sentiment drops in Sept. on geopolitical risks
South Korea's consumer confidence fell for the second month in a row in September on the North Korea risk and Seoul's row with Beijing over a missile defense system, a central bank poll showed Tuesday.The composite consumer sentiment index for September stood at 107.7, down 2.2 points from the previous month, according to the survey by the Bank of Korea. In August, the index fell 1.3 points from July. A reading above 100 means optimists outnumber pessimists."The issue of North Korea's nucle
EconomySept. 26, 2017
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Corporate direct financing dips 24% in Aug.
South Korean companies' equity and debt sales plunged more than 24 percent in August from the previous month due mainly to one-off and seasonal factors, government data showed Tuesday. Local companies raised 10.9 trillion won ($9.6 billion) by selling stocks and bonds last month, down 24.4 percent from July, according to the data from the Financial Supervisory Service. Stock sales, including seven initial public offerings, tumbled 69.4 percent on-month to 389.3 billion won in August.The fin
MarketSept. 26, 2017
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Anti-graft law has limited impact on domestic economy: data
The Improper Solicitation and Graft Act has continuously been questioned over the crippling effect it allegedly holds over domestic consumption, but after a year in implementation, its impact on most sectors of the economy turned out to have been limited, according to the latest data.The anti-graft law, often dubbed the Kim Young-ran law after its initiator, did weigh down on upmarket restaurants, floricultural industries and liquor shops but key economic indexes displayed little fluctuation, th
EconomySept. 25, 2017
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LG Electronics taps further into car components, energy businesses
South Korean electronics giant LG Electronics is moving to increase its investments in vehicle components and energy businesses to equip itself with future growth engines.LG Electronics first launched its vehicle components division in July 2013 and it has posted sales growth for nine consecutive quarters. Starting last year, the vehicle components unit has been supplying a total of 11 auto parts and systems, including electric drive motors, power invertor modules, battery cells and high power d
TechnologySept. 25, 2017
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Home meal replacements, health food production rise with shifting lifestyle
Production of health food products and home meal replacements rose significantly in 2016, as Koreans are cooking less at home and focusing on healthy living, according to data released Monday.According to the Food and Drug Safety Ministry, products in the home meal replacement category rose in production across the board. Production of ready-to-cook and ready-to-eat products rose from 1.04 trillion won ($920.5 million) to 1.55 trillion won, while boxed meals like those sold at convenience stores
IndustrySept. 25, 2017
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McDonald's to run safety checks on stores nationwide
McDonald’s Korea said Monday that it will be cooperating with the Korea Food Safety Association to run an independent nationwide safety check on its stores.(McDonald's)The inspections, to cover 80 items including compliance with food sanitation laws, store facilities, employee sanitation and ingredient inventory management, will come as part of McDonald‘s previously announced plans to strengthen safety at its stores following allegations of products leading to adverse health effects.The unannoun
IndustrySept. 25, 2017
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[Reshaping Semicon Map] Samsung's next task: AI chips to empower devices
A new, urgent task of Samsung, the world’s unrivalled memory chip provider, seems to be developing chips for artificial intelligence applications on devices, including the company’s AI program Bixby on smartphones and connected home appliances, an emerging cash cow sought by many chip ventures around the world.Though belatedly compared to its major rivals such as Qualcomm, the South Korean tech behemoth has embarked on research and development of so-called “AI chips” with a goal of commercializa
TechnologySept. 25, 2017
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LG jumps into home beauty market
LG Electronics on Monday announced its surprise entry into the growing home beauty market by launching four skin care devices.By combining the company’s hardware manufacturing capabilities and the cosmetics business of affiliated LG Household & Healthcare, the tech titan said it aims to expand into the beauty device market. Branded as Pra.L, LG’s home beauty appliance lineup consists of the Derma LED Mask, the Total Lift-up Care, the Galvanic Ion Booster and the Dual-Motion Cleanser. Models int
TechnologySept. 25, 2017
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Additional stimulus mulled to bolster weakening economy
The growing signs of the Korean economy weakening amid deteriorating conditions at home and abroad are prompting the government to work on additional stimulus measures.Economic indicators have taken a steep downturn in recent months.The on-year increase in the number of employees remained at 212,000 in August, the lowest in four and a half years, according to Statistics Korea.Output in the sector of restaurants and accommodating facilities fell 4.3 percent from a year earlier in July, reflecting
EconomySept. 25, 2017
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Half of stock trades made within day: data
Nearly half of the entire trade volume in South Korea’s stock market this year until mid-September stemmed from day trading, indicating individual traders’ growing tendency to seek instant profit from stocks with high price volatility, data showed Monday. From January to Sept. 15, day traders bought or sold some 48 percent of shares, or 89.5 billion shares, on the first-tier and second-tier markets, according to data by the sole market operator the Korea Exchange. This comes in contr
MarketSept. 25, 2017
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[ITU 2017] Global leaders vow united efforts to address ICT issues
BUSAN -- ITU Telecom World 2017, one of the largest UN-backed information and communication technology events, kicked off in Korea’s southern port city of Busan on Monday.Hundreds of ministers, government officials, and business leaders from ITU’s 193 member states packed the auditorium of Bexco, an exhibition center and the main event venue for the conference, to celebrate the opening of the quadrennial event.The conference, which is being held under the theme “Better Sooner,” gives participant
TechnologySept. 25, 2017
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[Monitor] Youth unemployment worse than during financial crisis
While the world economy is on a recovering trend, South Korea continues to suffer from aggravating unemployment, particularly among the youth, data showed Monday.The average unemployment rate among the member countries of the Organization for Economic Cooperation and Development has steadily declined over the past six months. However, that of South Korea has continued to surge for the past four years.South Korea’s youth unemployment rate is 0.9 percentage points higher than the 9.8 percent
EconomySept. 25, 2017
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S. Korean shares end lower on foreign selling amid tensions over N. Korea
South Korean stocks ended lower Monday as foreign investors and institutions sold local stocks amid escalating tensions between North Korea and the United States. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index lost 8.31 points, or 0.35 percent, to 2,380.40.Foreign investors offloaded shares worth more than 33.6 billion won ($29.6 million) and institutions sold more than 47.8 billion won. Park Chun-young, an analyst at Daishin Securities, said the d
MarketSept. 25, 2017
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Hyundai, Kia's brand value up on technology, innovation
The brand value of South Korea's top two automakers -- Hyundai Motor Co. and Kia Motors Corp. -- rose this year due to their investments in future car technologies and design innovation, respectively, industry data showed on Monday.In the Interbrand Best Global Brands 2017 rankings, Hyundai Motor ranked 35th, with its brand value rising 5.1 percent to $13.2 billion this year from $12.5 billion a year earlier. (Yonhap)"Hyundai Motor is working incredibly hard to realize its vision for Future Mobi
MobilitySept. 25, 2017
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BOK says half of manufacturing firms to hire recruits next year
About half of South Korea's manufacturing firms have hiring plans next year, the central bank said in a report Monday.The Bank of Korea said 52 percent of 279 firms across the country said they plan to hire new recruits next year and among them, 38.9 percent said they will increase the number of recruits in 2018 compared with this year.By sector, 52.6 percent of information technology firms said they could hire more people in the new year vis-a-vis 2017. On the other hand, 10.5 percent of IT com
EconomySept. 25, 2017
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Hyundai Mobis supplies parts worth $4.8b for US, China
Until August this year, Hyundai Mobis, South Korea’s biggest auto parts maker by sales, has sealed orders worth a total $4.8 billion in the US and China between, up about five times compared to last year, the company said Monday. “The orders are meaningful in that they were made on quality recognition of our products among partners in North America and China,” said an official of Hyundai Mobis.Last year’s annual total had reached $1 billion. The company does not have more orders to close in the
MobilitySept. 25, 2017