Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Korean labor force to shrink by 10 million by 2044: report
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Pandemic left Korea more depressed than before: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Gov't appears to shelve punitive measures against mass walkout by doctors
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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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Govt. asks hospitals to mitigate impact of medical professors' absence
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Samsung mocks Apple over iPhone alarm glitch
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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
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Mercedes-Benz unveils new S-Class models in Korea
Mercedes-Benz Korea released the New S-Class sedans in Seoul on Monday, starting with diesel-powered models.For two months, the German luxury carmaker‘s local sales unit will be selling eight models, including the Mercedes-AMG S 63 4Matic and Mercedes-Maybach, the company said. S-Class Coupe and S-Class Cabriolet models will be introduced next year, it added. The New Mercedes-Benz S-Class (left) and New Mercedes-Maybach S-Class (right) (Mercedes-Benz Korea)“Different engines will come not all t
MobilitySept. 5, 2017
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SME leaders call for govt. support ahead of high costs, low productivity
South Korea's small and medium-sized enterprise leaders called on the government Tuesday to provide more support in the face of an increased minimum wage and reduced working hours that will impact their businesses.In a meeting with Labor Minister Kim Young-joo, Park Sung-taek, chairman of the Korea Federation of Small and Medium Business, said its member companies will cooperate with the government's efforts to raise the minimum wage and reduce working hours, but stressed Seoul has to provide fi
IndustrySept. 5, 2017
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Samsung SDI technician to join international off-road motor race
A technician at South Korean battery maker Samsung SDI will join an international motorcycle race slated for early summer next year. Kim Sun-ho, assistant manager at a battery production line, is one of the three players in Team South Korea and one of 60 competitors from 20 countries who will take part in the International GS Trophy 2018 in Mongolia sponsored by BMW Motorrad. The nine-day challenge involves a 2,000-kilometer off-road motorcycle race for seven days, Samsung SDI battery technicia
TechnologySept. 5, 2017
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Stocks reel from nuke test impact
South Korea’s stock markets on Tuesday remained under the influence of North Korea’s sixth nuclear test Sunday.The main bourse index Kospi shed 0.13 percent and closed at 2,326.62, while the secondary market index Kosdaq took a 0.33 percent loss.Both markets opened higher Tuesday, but swung back to negative territory with foreign sell-offs emerging from late morning trade. The Kospi opened 0.37 percent higher, while the Kosdaq was up 0.69 percent at 9 a.m. The Kospi suffered fo
MarketSept. 5, 2017
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[News Focus] Why smartwatches failed to hit mainstream
It been three years since Apple CEO Tim Cook said “the Apple Watch is most personal device we’ve ever created,” and smartwatches have evolved to become smarter, sleeker and more stylish. They now sport fitness trackers, waterproof and payment services, with some of them being hybrids with luxury fashion brands including Emporio Armani, Fossil and Michael Kors. Despite the advances with fanfare, smartwatches have yet to grab the mainstream for now. The global smartwatch market saw a whopping 350
IndustrySept. 5, 2017
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[Monitor] Korea‘s longest submarine tunnel being constructed
Boryeong and Taean will be connected with the country’s longest submarine tunnel as well as a bridge, together spanning some 14.1 kilometers, in South Chungcheong Province.The construction plan is part of a tourism project pushed by the region that would include new large-scale resorts envisioned by Daemyung Group and Lotte Group. The construction is currently 38 percent and 67 percent complete for the tunnel and the bridge respectively.When completed, the tunnel will be the longest in South Kor
IndustrySept. 5, 2017
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Seoul shares close slightly lower on geopolitical concerns
South Korean stocks closed 0.13 percent lower Tuesday on concerns over North Korea's nuclear provocations, but the decline slowed compared to previous sessions as investors engaged in bargain hunting, analysts said. The Korean won sharply fell against the US dollar.The benchmark Korea Composite Stock Price Index dropped 3.03 points, or 0.13 percent, to 2,326.62. Trade volume was moderate at 317 million shares worth 4.81 trillion won ($4.25 billion), with losers outnumbering gainers at 569 to 239
MarketSept. 5, 2017
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Hyundai turns to Europe to pick up lagging business
Hyundai Motor Group Vice Chairman Chung Eui-sun delivers a presentation at the world premiere of the Kona, Hyundai Motor’s first small SUV, at the company’s studio in Goyang, Gyeonggi Province, in July. (Hyundai Motor Group)Hyundai Motor Group Vice Chairman Chung Eui-sun started a four-day business trip in Europe, seeking to expand the company’s presence there through its to-be-launched fuel cell electric vehicles, compact SUVs and luxury cars, the company said Tuesday.The first destination of C
MobilitySept. 5, 2017
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Kumho Tire creditors reject Doublestar‘s demand of price cut
(Yonhap)A yearlong negotiation between creditors of Kumho Tire and Qingdao Doublestar hit a major snag on Tuesday, as the former group rejected the Chinese company’s demand of cutting down its bid price for a controlling stake in the South Korean tiremaker.If the Chinese firm refuses to renegotiate, the deal is terminated automatically.“We were not able to accept, because Doublestar made an excessive demand,” said an official representing one of the creditors, including the state-run Korea Devel
IndustrySept. 5, 2017