Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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KT launches new mobile plans for foreign residents
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Imported car sales jump 10% in August on German, Japanese models
Sales of imported vehicles in South Korea jumped 10 percent last month compared to a year earlier on robust demand for German and Japanese vehicles, industry data showed Wednesday. The number of newly registered foreign vehicles rose to 17,547 in August from 15,932 a year earlier, the Korea Automobile Importers and Distributors Association said in a statement. The three best-selling models were the BMW 520d, Lexus ES300h and Mercedes-Benz E 220d 4MATIC sedans, the statement said. BMW`s 10 milli
MobilitySept. 6, 2017
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Samsung sees share of China's cellphone market slip in Q2
Samsung Electronics Co. saw its share of China's cellphone market drop in the second quarter as more Chinese customers preferred cheaper local brands over its high-end devices, a report said Wednesday.According to the report by the Korea International Trade Association, Chinese customers owned 48 million Samsung cellphones as of end-June, making the company the sixth-largest player in the world's No. 2 economy. It was down two notches from its standing in the first quarter of last year.US rival
TechnologySept. 6, 2017
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Kumho Tire turnaround main focus after deal collapses: biz leader
The chief of Kumho Asiana Group said Wednesday the airline-to-construction conglomerate will consider asset sales in China to help turn around its tiremaking affiliate after the deal to sell it collapsed. In March, China's Qingdao Doublestar signed a 955 billion-won ($844 million) contract with the creditors led by the state-run Korea Development Bank to buy a 42.01-percent stake in South Korea's No. 2 tiremaker. The deal fell through Monday when the creditors rejected Doublestar's demand to cut
IndustrySept. 6, 2017
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Korea‘s economic recovery remains feeble: KDI
South Korea's economic recovery pace remains weak and feeble due mainly to the prolonged slump in private consumption, a state-run think tank said Wednesday."Signs of a slowdown have stabilized on the production side, but the overall economy is not showing hints of a steady recovery,"the Korea Development Institute said in its monthly evaluation of the country's economic conditions. "The improvement trend in domestic demand appears to be unsteady."Concerns have been rising as
EconomySept. 6, 2017
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Korea, Thailand agree to expand bilateral flights
South Korea and Thailand have agreed to double the number of designated airlines on their bilateral routes as Seoul tackles declining travel demand from China, the transport ministry said Wednesday. At the aviation talks held in Busan, 450 kilometers south of Seoul, Koo Bon-hwan, director general of the Aviation Policy Bureau at the Ministry of Land, Infrastructure and Transportation, and his Thai counterpart, Chula Sukmanop, agreed to increase the number of airlines on Korea-Thailand routes fro
IndustrySept. 6, 2017
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Korean stocks down late Wednesday morning
South Korean stocks traded lower late Wednesday morning on overnight losses from Wall Street coupled with the rising concern over North Korean provocations.The benchmark Korea Composite Stock Price Index shed 6.99 points, or 0.3 percent, to 2,319.63 as of 11:20 a.m.Carmakers lost ground, with Hyundai Motor Co. falling 2.17 percent and its sister Kia Motors moving down 3.81 percent. Hyundai Mobis, the country's largest car parts producer, shed 2.1 percent. No. 1 mobile carrier SK Telecom bac
MarketSept. 6, 2017
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Doosan Group taps collaborative robot market
Heavy machinery and power equipment conglomerate Doosan Group said Wednesday that it is planning to enter the so-called collaborative robot market soon with a plan to start selling such robots next year.Doosan set up a robot-developing unit in 2015, which recently showcased four collaborative robot models. (Yonhap)Rather than replacing human laborers, collaborative robots are commonly used to help people with their work.The company said it plans to produce such collaborative robots this year and
TechnologySept. 6, 2017
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KDB, Export-Import Bank of Korea return to black in H1
South Korea's two state-run policy banks -- Korea Development Bank and the Export-Import Bank of Korea -- bounced back into the black in the first-half of this year with their loan-loss provisions falling as the restructuring of the shipbuilding industry nears an end.In a regulatory filing on Wednesday, KDB said it posted a net profit of 1.27 trillion won ($1.12 billion) for the January-June period, compared to a loss of 289.6 billion won a year earlier. The Export-Import Bank of Korea said
MarketSept. 6, 2017
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Japanese tourists to S. Korea feared to dip on NK nuke test
The number of Japanese visitors to South Korea may decrease in the wake of North Korea's latest nuclear test, industry sources said Wednesday.Japanese tourists to Seoul have tended to slip whenever tensions on the Korean Peninsula escalate due to Pyongyang's atomic tests or other geopolitical risks. The isolated North carried out its sixth and most powerful nuclear test on Sunday, drawing strong condemnation from the international community.According to the Korea Tourism Organization, the number
EconomySept. 6, 2017
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LG opens pop-up shops to promote V30
LG Electronics Inc. on Wednesday said it kicked off full-fledged marketing in South Korea for its new flagship, the LG V30, ahead of its release slated for later this month.The South Korean tech giant said it displayed the LG V30 at 3,000 retail shops throughout the country, along with 13 exclusive pop-up shops at five major cities, including Seoul, Busan and Daegu.Showcased last month, the LG V30 features the V series' first organic light-emitting diode display and top-notch camera. (Yonhap)The
TechnologySept. 6, 2017
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Galaxy Note 8 to be equipped with Korean document app
Hancom Inc., a South Korean software developer, said Wednesday that Samsung Electronics Co.'s Galaxy Note 8 smartphones to be sold in the United States will adopt its document-editing program.The company said the app, named Hancom Office S, will be installed on Samsung's latest phablet. The program allows users to edit not only PDF files but also those made in MS Office Word, Excel and PowerPoint. (Yonhap)The company also provided the Hancom Office S application for the Galaxy S8 smartphones rel
TechnologySept. 6, 2017
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Corporate watchdog chief vows to reform unfair biz practices
The chief of South Korea's corporate watchdog pledged Wednesday to carry out sweeping reforms of the local distribution and retail industry to root out unfair business practices and strengthen consumer protection.Fair Trade Commission Chairman Kim Sang-jo made the comment at a meeting in Seoul with business leaders representing the Korea Chainstore Association, the Korea Online Shopping Association and the Korea TV Home Shopping Association.Last month, the FTC unveiled a plan to impose punitive
IndustrySept. 6, 2017
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US lawmakers voice opposition to withdrawal from Korea trade deal
WASHINGTON -- A group of bipartisan US lawmakers on Tuesday voiced opposition to President Donald Trump's plans to weigh a possible withdrawal from the US free trade agreement with South Korea.In a statement, House Ways and Means Committee Chairman Kevin Brady (R-TX), ranking member Richard Neal (D-MA), Senate Finance Committee Chairman Orrin Hatch (R-UT) and ranking member Ron Wyden (D-OR) highlighted the importance of the bilateral deal in the wake of North Korea's latest nuclear test. Py
EconomySept. 6, 2017
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Seoul stocks open lower on N. Korean nuke woes
South Korean stocks opened lower Wednesday as North Korea's sixth nuke test continued to weigh down on investor sentiment.The benchmark Korea Composite Stock Price Index shed 4.19 points, or 0.18 percent, to 2,322.43 in the first 15 minutes of trading.Steelmakers got off to a weak start, with No. 1 player POSCO falling 1.61 percent and second-largest Hyundai Steel losing 1.05 percent. Top carmaker Hyundai Motor decreased 0.72 percent, and its sister Kia Motors moved down 1.32 percent. Auto
MarketSept. 6, 2017
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Credit finance firms' combined profit falls 7.3% in H1
South Korea's credit finance firms saw their combined net profit fall 7.3 percent on-year for the first half of this year, hit by a rise in loan-loss provisions, data showed Wednesday. The combined net income of 78 credit finance companies was 890.1 billion won ($786.9 million) for the January-June period, compared with 959.7 billion won a year earlier, according to data compiled by the Financial Supervisory Service. The companies include capital financing firms and leasing companies, but e
EconomySept. 6, 2017
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Families of conglomerate heads enjoy fast track
Families of South Korean conglomerates' heads are on the fast track as they usually get promoted to the executive level in about four years after entering the company, a corporate tracker said Wednesday.Announcing a survey on 185 members of families controlling the 77 leading business groups, CEO Score said it took an average of 4.2 years for them to get promoted to executive-level positions after admission. In contrast, it took an average of 21.7 years for ordinary employees to rise to an execu
IndustrySept. 6, 2017
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Korea's tourism balance hits historic low in July
South Korea saw its greatest deficit ever in tourism balance in July this year, with the imbalance expected to continue amid tensions with China and North Korea, and the upcoming Chuseok holiday luring Koreans to travel abroad.According to numbers from the Bank of Korea on Tuesday, the travel trade balance hit a $1.79 billion deficit in July this year, representing the lowest point ever. The balance fell by 40.8 percent compared to July last year.Travelers leaving Korea wait to check-in at Inche
IndustrySept. 5, 2017
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[Photo News] Bayer kicks off health care startup acceleration program
BAYER KICKS OFF STARTUP PROGRAM -- German pharmaceutical giant Bayer kicked off Tuesday its Grants4Apps Accelerator program, which aims to support innovative digital health care startups worldwide. This year, the company selected four startups to receive 50,000 euros ($59,400) in funding and mentorship from the Bayer headquarters on business development and strategizing. This included South Korea’s Sky Labs, which developed a heart rhythm detection wearable device to monitor signs of atrial fibr
TechnologySept. 5, 2017
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KORUS FTA withdrawal may lead to anti-American sentiment: AmCham
Following US President Donald Trump’s statements over the weekend regarding the US’ possible withdrawal from the Korea-US Free Trade Agreement, the American Chamber of Commerce in Korea said it fears the move may lead to anti-American sentiment here. “Termination of the agreement will have a severe damaging effect on the economy, and we are also concerned about a deterioration of the relationship between the US and Korea, leading to anti-American sentiment,” said a press
EconomySept. 5, 2017
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KT&G offers W3b to young entrepreneurs
Cigarette maker KT&G is offering 3 billion won ($2.65 million) to help fund young entrepreneurs creating social enterprises, according to the company Tuesday. From left: KT&G chief of sustainability management HQ Lee Sang-hak, Social Solidarity Bank CEO Kim Yong-deog and Underdogs CEO Kim Jeong-heon sign the KT&G SangSang Startup Camp memorandum of understanding at Seoul Innovation Park on Tuesday. (KT&G)KT&G signed an agreement Tuesday with Social Sustainability Bank and Underdogs to start the
IndustrySept. 5, 2017