Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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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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Kakao Bank goes online, users suffer lag
Kakao Bank officially began operations Thursday at 7 a.m., becoming the second online-only bank to be launched in South Korea, but it was quickly met with complaints due to the server failure of the bank’s mobile app. Within eight hours of the launch, some 230,000 users had downloaded the mobile app, through which some 103,000 new bank accounts were created, according to the bank. It also drew 26 billion won ($23.3 million) in deposits and savings accounts, while extending loans worth 14 b
MarketJuly 27, 2017
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[Monitor] Korea’s growth slows on weak exports
South Korea’s economic growth slackened in the second quarter of this year from a year ago due to slower exports, mainly in shipments of transportation equipment, petrochemicals and chemical products, data from the Bank of Korea showed Thursday.Exports declined 3 percent from the previous quarter and 0.1 percent from the previous year.But demand for semiconductors remained strong.Meanwhile, consumer sentiment improved under the Moon Jae-in government, with more spending on durable goods, s
EconomyJuly 27, 2017
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Samsung Heavy swings to black in Q2 on cost-saving measures
Samsung Heavy Industries Co., a major shipyard here, said Thursday that it swung to the black in the second quarter of the year from a year earlier on cost-saving measures.Net profit reached 23 billion won ($21 million) in the April-June period, compared with a loss of 212 billion won a year earlier, the company said in a regulatory filing.Operating income reached 21 billion won in the second quarter, also turning around from an operating loss of 284 billion won a year earlier.Its sales dropped
IndustryJuly 27, 2017
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Seoul stocks edge up on US gains after Fed announcement
South Korean stocks finished higher Thursday, taking a cue from overnight gains on Wall Street as the Federal Reserve left interest rates unchanged, analysts said. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 8.73 points, or 0.36 percent, to close at 2,443.24. Trading volume was moderate at 420 million shares worth 5.3 trillion won ($4.7 billion), with gainers outpacing losers 430 to 356.The local stock market opened higher on US gains and
MarketJuly 27, 2017
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Ministry, ruling party agree to focus tax revision on jobs
The Moon Jae-in government and the ruling liberal Democratic Party of Korea on Thursday agreed that the incoming tax law revision should focus on creating jobs and supporting small businesses.But the two sides failed to settle on how to raise extra tax from the rich. While the party viewed the hike as a crucial step to reform the nation’s economic inequality, the government remained reluctant to impose a direct burden on local businesses. The Democratic Party and the Finance Ministry
EconomyJuly 27, 2017
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Samsung expected to continue record-breaking profit in Q3
Samsung Electronics, which posted record-high revenue, operating profit and net profit in the second quarter, is expected to post another top profit number in the next quarter on a continued chip boom and its new OLED panel supply for Apple’s new iPhones. The South Korean electronics giant said Thursday it posted 61 trillion won ($54 billion) in sales and 14 trillion won in operating profit between April and June, rising 19 percent and 72 percent, respectively, from the previous year. Samsung sa
IndustryJuly 27, 2017
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Miracles in pairs
Twins share more than their mother’s womb. They share tears, laughter, failures, achievements, envy and even at times prejudice.Korea is among countries seeing an increasing number of twins, triplets and more, as more women are having children at a later age, which often leads to higher chances of conceiving multiple babies, such as through artificial insemination. Some couples even work on conceiving multiple babies at one time for the sake of efficiency or due to time constraints. Tomorrow’s w
IndustryJuly 27, 2017
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LG Uplus reaps larger growth than bigger players in Q2
LG Uplus, South Korea’s smallest mobile carrier in terms of subscription, revenue and profit, reaped bigger growth in its second-quarter earnings than the top two players SK Telecom and KT, according to earnings announcements Thursday. LG Uplus posted 15.5 percent growth in operating profit in the second quarter compared to the same period last year, due to growth in its wireless and telecommunications service businesses. The company’s second-quarter sales stood at 3 trillion won ($2.7 billion),
TechnologyJuly 27, 2017
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Korea's vaccination rates for children higher than US, Britain: data
South Korea's vaccination rates for hepatitis B and several other major diseases are higher than those of the United States, Britain and Australia, government data showed Thursday.South Korea's vaccination rates for HepB, BCG, DTaP, IPV, Hib and MMR stood at 96.6 percent, according to the statistics by the Korea Centers for Disease Control which analyzed the vaccination records of 440,000 children born in 2013 in the four countries.(Yonhap)The comparable figures were 90.9 percent for the US, 94.
TechnologyJuly 27, 2017
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Hyundai Engineering Q2 net jumps 14%
Hyundai Engineering & Construction Co. on Thursday posted a 14 percent on-year jump in its second-quarter net profit as major projects began to be reflected in the bottom line. Net profit for the April-June quarter rose to 216 billion won ($194 million) from 189.4 billion won a year earlier, the company said in a statement. Hyundai E&C headquarters in northern Seoul. (Yonhap)"The company has focused on winning plant and infrastructure projects in overseas markets. Initial payments for the proje
IndustryJuly 27, 2017
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SsangYong Motor workers OK wage deal
SsangYong Motor Co.'s union has accepted a wage deal to avoid any production losses amid tough competition from rivals, the company said Thursday."The company and its union shared the view that a stable labor-management relation is essential in increasing sales of the G4 Rexton SUV and maintaining its leading status in the subcompact SUV market," the company said in a statement. The 3,451-member union held a vote to decide whether to accept this year's wage deal or not. A total of 3,295 workers
MobilityJuly 27, 2017
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Kia Motors Q2 net plunges 53% on China woes
Kia Motors Corp. said Thursday its second-quarter net profit plunged 53 percent from a year earlier on weaker demand for its vehicles in China and the United States.For the three months that ended on June 30, net profit declined to 389.6 billion won ($350 million) from 825.8 billion won a year earlier, the company said in a statement. "On top of political tension with China over the installation of a US missile defense system in South Korea, which Beijing objects to, high US incentive costs and
MobilityJuly 27, 2017
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Korean stocks up late Thursday morning
South Korean stocks traded higher late Thursday morning, after Samsung Electronics, the top cap here, reported its all-time high earnings for the second quarter. The benchmark Korea Composite Stock Price Index rose 6.73 points, or 0.28 percent, to 2,441.24 as of 11:20 a.m.Market kingpin Samsung Electronics gained 0.32 percent, while SK hynix, a major chipmaker, was up 3.89 percent.LG Chem, South Korea's top chemicals firm, rose 0.77 percent, while AmorePacific, the country's leading cosmet
MarketJuly 27, 2017
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KT&G Q2 net dips 3.8% despite strong sales
KT&G Corp., South Korea's leading tobacco producer, said Thursday its second-quarter net profit fell 3.8 percent from a year ago due to factors other than sales. (Yonhap)Net profit came to 274.7 billion won ($247 million) on a consolidated basis in the April-June period, compared with 285.6 billion won a year earlier, the company said in a regulatory filing. Operating income, meanwhile, jumped 11.7 percent on-year to 386.5 billion won and sales also rose 6.8 percent to 1.16 trillion won over th
IndustryJuly 27, 2017
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Korea's seaport cargo up 5.2% in H1
Cargo processed at South Korean seaports rose more than 5 percent during the first six months of the year on brisk outbound shipments, government data showed Thursday. (Yonhap)Cargo handled at the country's ports came to 789.16 million tons in the January-June period, up 52 percent from 750 million tons tallied a year earlier, according to data by the Ministry of Oceans and Fisheries.Non-container cargo gained 2.3 percent on-year to 548.11 million tons over the cited period, while container frei
IndustryJuly 27, 2017
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Samsung posts best quarterly profit amid chip boom
Samsung Electronics posted its best quarterly profit in the second quarter due to a boom in memory chips. The South Korean electronics giant said Thursday that it posted 61 trillion won ($ 54 billion) in sales and 14 trillion won in operating profit in the April-June period, rising 19 percent and 72 percent, respectively, from the previous year. Samsung said its record-high earnings were mainly buoyed by the booming chip market amid rising demand for storage products. Samsung’s chip unit posted
IndustryJuly 27, 2017
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Govt. set to receive W16tr in extra tax revenues for 5 yrs: report
The government will be able to collect about 16 trillion won ($14.3 billion) in additional tax revenues for the coming five years if the tax rate hike for the superrich and top conglomerates advocated by the ruling party are implemented, a parliamentary report said Thursday.Rep. Choo Mi-ae, leader of the ruling Democratic party, has proposed raising tax rates for the super-rich and top-earning conglomerates to help finance the Moon Jae-in administration's welfare and job creation agenda estimate
EconomyJuly 27, 2017
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LG Display to focus capital spending on OLED
LG Display Co. said Thursday it will suspend making investments in liquid-crystal display panels for TVs, and instead focus its efforts on developing the next-generation organic light-emitting diode panels."There will be no additional investment on LCD TVs," said Han Sang-beom, the head of LG Display. "There still will be investment for LCD products in the IT sector as there is demand for high-end monitors and laptops," Han said. LG Display said Tuesday it will invest 7.8 trillion won ($6.9 bill
CompaniesJuly 27, 2017
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SK Telecom reports modest growth in Q2
South Korea's No. 1 mobile carrier SK Telecom Co. said Thursday its second-quarter operating income increased nearly 4 percent from a year earlier, helped by improved performance of its subsidiaries.Operating profit came to 423.3 billion won ($380.3 million) in the April-June period, the mobile carrier said in a regulatory filing. This represents a 3.9 percent on-year gain. Sales also increased 1.8 percent on-year to reach 4.34 trillion won during the cited period, the company said. The figures
IndustryJuly 27, 2017
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Stocks open higher on Samsung Electronics' strong earnings
South Korean shares opened higher Thursday, boosted by market bellwether Samsung Electronics' strong earnings report.The benchmark Korea Composite Stock Price Index rose 12.75 points, or 0.52 percent, to 2,447.26 in the first 15 minutes of trading.Market kingpin Samsung Electronics gained 1.2 percent after releasing its second-quarter earnings through a regulatory filing. The tech giant said it racked up 14.1 trillion won ($12.6 billion) in the April-June period, up 72.7 percent from 8.14 t
MarketJuly 27, 2017