Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Hyundai Steel Q2 net plunges 46 pct on lower China demand
Hyundai Steel Co., South Korea's second-largest steelmaker by sales, said Friday its net profits plunged 46 percent on-year in the second quarter on lower demand in China.In the three months that ended June 30, the company's net slumped to 341.1 billion won ($304 million) from 254.6 billion won a year earlier, the company said in a statement.(Yonhap)"As the company's supply of automotive steel to Hyundai Motor Co. and Kia Motors Corp.'s plants (in China) has fallen sharply, it deeply cut into th
IndustryJuly 28, 2017
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[Weekender] The ins and outs of twinhood
Wherever they go, they naturally draw attention. One day they may fight like there’s no tomorrow, but in the end they are each other’s best friend. Twins, whether identical or fraternal, are becoming more common in Korea, partly because more women are getting married at an older age, increasing the likelihood of having children via medically assisted reproduction, which raises the chances of multiple births. The latest data from Statistics Korea shows that 16,166 twins were born in 2015, account
IndustryJuly 28, 2017
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Seoul stocks crash 1.73% on foreign sell-offs
South Korean shares dropped to their lowest level in over two weeks Friday, as foreign investors heavily sold off market heavyweights, mostly tech stocks, a move seen as cashing in recent gains, analysts said. The local currency fell sharply against the US dollar.The benchmark Korea Composite Stock Price Index plunged 42.25 points, or 1.73 percent, to close at 2,400.99, after dipping to as low as 2,399.06 at one point. The closing price marks the lowest since July 13, when the comparable fi
MarketJuly 28, 2017
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[Weekender] Twin bliss
“Four out of 10 kids that I saw today at a kids cafe were twins, and they were all fraternal,” wrote an anonymous mom in a post on an online community that has 2.6 million moms and wannabe moms as members.Another mom replied to the post, saying, “It’s because more women are having babies through in vitro fertilization these days. I envy those mothers who got two birds with one stone.” Such dialogue is common nowadays in South Korea, which faces a decreasing economically productive population.Ind
IndustryJuly 28, 2017
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Kakao Bank poses challenges to conventional banks
The successful first day of Kakao Bank, South Korea’s second internet-only bank, not only signaled a new era of mobile banking but is also pushing conventional banks to depart from their loan-focused business model.While recognizing Kakao Bank’s expanded interest benefits, financial supervisors have recently been adding pressure on leading banks to take more risks and boldly invest in new industries.KaKao Bank, a mobile platform-run banking service, attracted over 300,000 accounts af
MarketJuly 28, 2017
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Korea’s industrial output decreases in June
(Yonhap)South Korea’s overall domestic industrial output decreased again in June, recording a three-month decline for the first time since July 2013, largely due to decreases in the refining and semiconductor sectors. But consumption increased by 1.1 percent compared with the previous month, according to data released by Statistics Korea on Friday.The country’s overall output in June fell by 0.1 percent, with the semiconductor sector posting a 3.9 percent decline in production, following an 8.9
IndustryJuly 28, 2017
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Hyundai Mobis Q2 net drops 43 pct on China woes
Hyundai Mobis Co., South Korea's largest auto parts company, said Friday its second-quarter net profit plunged 43 percent from a year earlier on lower demand in China. Net profit for the three months that ended on June 30 fell to 481.24 billion won ($431 million) from 848.83 billion won a year earlier, the company said in a regulatory filing. (Yonhap)In the second quarter, the parts manufacturer's main buyers -- Hyundai Motor Co. and Kia Motors Corp. -- suffered sharp declines due to political
IndustryJuly 28, 2017
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BOK chief warns of drop in potential growth rate due to aging population
South Korea's potential growth rate for the foreseeable future could significantly decline because of a shrinking workforce caused by a rapidly aging population, the Bank of Korea chief warned Friday.At a forum with business executives on the southern resort island of Jeju, BOK Gov. Lee Ju-yeol called for deregulations and a search for new growth engines to mitigate the impact of the aging population. The BOK expects South Korea's potential growth rate to stay at 2.8 or 2.9 percent between
EconomyJuly 28, 2017
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Moon to hold second round of 'beer talks' with business leaders
President Moon Jae-in is set to hold the second round of "candid beer" talks with top business leaders Friday, his office Cheong Wa Dae said, as he seeks to elicit their support for his economic agenda and listen to their difficulties.The meeting will come a day after Moon met with top executives from seven business groups -- Hyundai Motor, LG, POSCO, Hanwha, Shinsegae, Doosan and CJ, along with the head of Ottogi, a leading but comparatively small food company. Friday's dinner gatheri
EconomyJuly 28, 2017
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Lobby for smaller businesses opposes minimum wage hike
A business lobby representing small-sized businesses on Friday filed a complaint against the government's decision on next year's minimum wage hike. Earlier this month, a tripartite commission of the government, labor and management reached an agreement to increase the minimum hourly wage to 7,530 won ($6.68) in 2018, up 16.4 percent from the current 6,470 won. While the decision was hailed by the labor circle and part-time workers, small business owners immediately expressed concerns, saying it
EconomyJuly 28, 2017
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Samsung Electronics beats Intel, takes world's largest chipmaker title in Q2
Samsung Electronics Co. emerged as the world's No. 1 chipmaker in terms of sales and operating profits in the second quarter, beating behemoth Intel Corp. market data showed Friday.The rise of Samsung is significant as Intel has been standing as the leading computer chip producer for some 24 years.Industry watchers said the rise is the result of the South Korean tech giant's successful developed next-generation technologies for dynamic random-access memory chips and NAND flash memory and quickly
IndustryJuly 28, 2017
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KT reports modest growth in Q2
South Korea's No. 2 mobile carrier KT Corp. said Friday its second-quarter operating profit rose nearly 5 percent from a year ago, helped by improved revenue in its media business. (Yonhap)Operating profit came to 447.3 billion won (US$400.6 million) for the April-June period, compared with a profit of 426.9 billion won for the same quarter last year, the company said in a regulatory filing. This represents a 4.8 percent on-year gain. Second-quarter net income inched up 1.1 percent on-year to 25
IndustryJuly 28, 2017
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LG Electronics wins 7 awards in US consumer evaluation study
LG Electronics Inc. said Friday it won seven awards in a US consumer evaluation study on home appliances, highlighting its position as one of the most popular brands in the North American market. (Yonhap)According to the findings released by industry-tracker J.D. Power, LG Electronics won top titles for its front-load and top-load washers, clothes dryers, dishwashers, freestanding ranges, French door refrigerators and top-mount freezer refrigerators."LG has clearly delivered on all these measure
IndustryJuly 28, 2017
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Industrial output backtracks 0.2% in June
South Korea's industrial output dropped slightly in June from a month earlier due to the dip in petroleum refinery and chip businesses, but consumption made a turnaround to offset the sluggish production, government data showed Friday. (Yonhap)Production in the mining, manufacturing, gas and electricity industries edged down 0.2 percent on-month in June, backtracking from a 0.2 percent on-month gain in the previous month, according to the data by Statistics Korea.From a year earlier, output also
IndustryJuly 28, 2017
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Korea's business confidence steady at low levels in July
Business sentiments among South Korean manufacturers remained flat at low levels in July, a survey by the Bank of Korea showed Friday, with the auto industry's confidence plunging over sluggish exports. The monthly business survey index, an indicator of the manufacturers' outlook for the coming month, was 78 in July, flat from a month earlier, according to the BOK survey. The index fell for a second straight month in June after rising to 83 in April. A reading above 100 means that more com
EconomyJuly 28, 2017
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SsangYong Motor’s G4 Rexton diversifies SUV market
SsangYong Motor, the local unit of India’s Mahindra & Mahindra, has added diversity to South Korea’s sport utility vehicle market with its latest premium full-size G4 Rexton SUV, the company said Thursday. The G4 Rexton replaced the Mohave SUV made by Kia Motors as the best-selling large-size SUV here for two straight months since its release in May. The model recorded sales of 2,703 units in May and 2,708 units in June, according to the company. SsangYong Motor’s premium large-size SUV, the G4
MobilityJuly 27, 2017
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SK Innovation’s Q2 earnings fall 58%
SK Innovation, South Korea’s biggest oil refiner in terms of market share, saw its second-quarter earnings drop by more than half on-quarter, largely due to the slump in international oil prices, according to a regulatory filing Thursday. SK Innovation’s sales in the second quarter reached 10.5 trillion won ($9.4 billion), up 2.7 percent, but its operating profit dropped to 421 billion won, down by 62.4 percent on-year from 1.1 trillion won. (Yonhap)Compared with the previous quarter, the compa
IndustryJuly 27, 2017
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Kogas completes safety checks for LNG facilities
The Korea Gas Corporation said Thursday that the company conducted safety inspections at its two local liquefied natural gas facilities from July 11-12. The safety checks were conducted as a part of the government’s summer electricity supply plan, it added. A Kogas gas supply facility in Busan (Kogas)With Kogas Senior Executive Vice President Kim Young-do in charge, the nation’s largest gas buyer checked the storage and supply equipment at its facilities.“With thorough safety inspections, Kogas
CompaniesJuly 27, 2017
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Korea to sell W6.7tr won in state bond in Aug.
South Korean plans to sell a combined 6.7 trillion won ($6 billion) in state bonds next month, the finance ministry said Thursday. The government will issue 1.45 trillion won in bonds with a maturity of three years, and 1.65 trillion won in five-year bonds in August.It also plans to sell 1.5 trillion won in 10-year Treasurys and a combined 2.1 trillion won of bonds with a maturity of between 20 and 30 years. (Yonhap)
EconomyJuly 27, 2017
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Samsung Securities' long-term model portfolio boasts stability
Samsung Securities’ model portfolio, which guides global investment distribution of the equity firm‘s funds, has boasted stability, the firm said Thursday. The core-A type of Samsung Securities’ model portfolio saw a cumulative return of 19.68 percent over the last three years as of the end of June. Of the last 12 quarters, the model portfolio saw a positive rate of return in nine quarters, it explained.The longer the asset was managed, the higher the return was, accordin
MarketJuly 27, 2017