Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Robert J. Fouser] Social attitudes toward language proficiency
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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Britons most active traders of Korean stocks in June
British investors were most active stock traders among foreigners in South Korea in June, with Americans holding the largest amount of local shares, the financial watchdog said Tuesday.The value of local stocks traded by offshore investors came to slightly upwards of 78 trillion won ($69.7 billion) in June, accounting for nearly 30 percent of the total market turnover, according to data by the Financial Supervisory Service.Turnover by British investors stood at 25.8 trillion won that month, taki
MarketAug. 1, 2017
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Samsung's average handset prices up on Galaxy S8
The average sales price of Samsung Electronics Co.'s handsets rose in the second quarter to the highest level in three years, data showed Tuesday, helped by the robust shipment of the Galaxy S8 flagship.According to the data compiled by Strategy Analytics, the average sales price of Samsung handsets came to $235 over the April-June period, marking the highest figure over the past three years.The average price has been falling as Samsung continued to roll out various budget models to tap deeper i
TechnologyAug. 1, 2017
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Institutions log massive net stock buying in July
South Korean institutional investors loaded up on stocks in the final sessions of July, helping the local stock market keep its bullish run, data showed Tuesday.In a turnaround from their net selling position, local institutions turned net buyers in the final four days of last month, purchasing a net 1.78 trillion won ($1.59 billion) for all of the month, according to the data by the bourse operator Korea Exchange.Institutional investors had been net sellers till last Tuesday.In contrast, foreig
MarketAug. 1, 2017
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Head of major drug maker to be summoned for verbal abuse allegations
South Korean police said Monday that they will call in the head of a major pharmaceutical company in connection with an ongoing investigation into allegations of verbal abuse involving multiple private car drivers.Rhee Jang-han, chairman of Chong Kun Dang Pharmaceutical Corp., will be summoned on Wednesday, according to the Seoul Metropolitan Police Agency. Chairman of Chong Kun Dang Pharmaceutical Corp. Rhee Jang-han (Yonhap)hee is suspected of verbally harassing four private car drivers with s
BusinessJuly 31, 2017
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Home appliances with movie themes appeal to kidults
Home appliance makers are releasing new devices with superhero and movie themes to stand out in the increasingly saturated market and appeal to a growing number of “kidults,” adults with interests similar to children. Local firm Dongbu Daewoo Electronics said Monday it had launched limited edition Marvel Comics-themed refrigerators in partnership with the US entertainment firm The Walt Disney Co. The small refrigerators feature the characters Iron Man, Spider-Man and Captain America, fictional s
IndustryJuly 31, 2017
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FTC set to review alleged cartel by German carmakers
A Seoul law firm has requested the nation’s antitrust agency look into allegations that German carmakers colluded on diesel control and other parts for decades, raising concerns such a cartel could have restricted the principle of free market competition here.Ha Jong-sun, a lawyer at Barun Law Firm, said Monday that he had filed a petition against five German car brands operating here for an investigation. The list included Volkswagen, Audi, Porches, Mercedes-Benz and BMW.A spokesman at the Fair
MobilityJuly 31, 2017
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[Monitor] Online sales surge while offline sales sluggish
The distribution market is undergoing a rapid shift from offline to online, with major offline retailers suffering sales declines while offline sellers enjoy a rise, data by the Ministry of Trade, Industry and Energy showed.In the first half of this year, large retailers and department stores saw no increase in their sales while convenience stores and online retailers saw two digit surges in sales.Convenience stores also showed a12.8 percent increase in the number of branches.Online sellers part
IndustryJuly 31, 2017
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Fallout from minimum wage hike spreading
President Moon Jae-in’s administration is pushing for a steep increase in the minimum wage as a key stepping stone for its income-led growth policy.But critics say sharp pay increases detached from the reality faced by most businesses in the country might drag down the economy.Complaints are simmering especially from small business owners over last month’s decision by a commission of representatives from the government and labor and management circles to raise the minimum wage for 20
EconomyJuly 31, 2017
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Samsung begins official distribution of Harman products
Samsung Electronics will start selling Harman International’s consumer audio products from Tuesday through its local distribution channels, the company announced Monday. It is the first official business move since the South Korean tech titan completed its acquisition of the 70-year-old US-based audio system manufacturer for $8 billion in March. Consumers look at audio products displayed at Samsung Digital Plaza in Nonhyeong-dong, southern Seoul, on Monday. (Samsung Electronics)Samsung will off
TechnologyJuly 31, 2017
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Is Korea’s stock market seeing end to tech run?
South Korea’s main bourse index on Monday saw a recovery from Friday’s drop of 1.73 percent, the largest in nearly 13 months.The Kospi edged up 0.07 percent from Friday to close at 2,402.71 on Monday. Tech giants Samsung Electronics and SK hynix rose 0.92 percent and 2.17 percent, slight recoveries compared to slides of 4.1 percent and 5.56 percent, respectively, Friday.While viewing Friday’s plunge of the Kospi as “short-term noise,” local analysts said time is rip
MarketJuly 31, 2017
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Kakao Bank attracts more than 1 million accounts in 5 days
Kakao Bank, South Korea's second Internet-only bank, said Monday it has attracted more than 1 million accounts in five days since its launch, a potential game-changing development in the country's financial sector.The bank said the number of clients hit the milestone as of 1 p.m. on Monday, with deposits and loans being estimated at 344 billion won ($307 million) and 323 billion won, respectively.It means that the lender has attracted customers at the pace of 9,800 accounts an hour. (Yonhap)Kaka
TechnologyJuly 31, 2017
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S. Korean stocks close mildly higher amid N. Korean tensions
South Korean stocks finished slightly higher Monday with institutions going on a buying spree as foreign and individual investors dumped local shares to lock in recent gains, amid growing geopolitical tensions caused by North Korea's intercontinental ballistic missile launch, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index edged up 1.72 points, or 0.07 percent, to close at 2,402.71. Trade volume was modest at 273.94 million shares worth 5.
MarketJuly 31, 2017
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‘Starcraft: Remastered’ prelaunches in Korea
“Starcraft: Remastered,” a high-definition remake of Blizzard Entertainment’s hit PC strategy game “Starcraft” is now available at selected PC cafes in South Korea as part of a prelaunch event exclusive to Korea. As of Sunday evening, “Starcraft: Remastered” has become available at local PC bang -- internet cafes where one can play computer games -- that are licensed with Blizzard Korea, the company said Monday. The game is slated for official worldwide release on Aug. 15. Blizzard Korea hoste
TechnologyJuly 31, 2017
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2 major policy lenders receive improved rating in management assessment
South Korea's financial regulator said Monday that the performance of two major policy lenders has improved as the restructuring of shipbuilders and two major shipping lines have been concluded.The Financial Services Commission said it has raised the rating of the Korea Development Bank and the Export-Import Bank of Korea by one notch from C to B in its annual assessment of five public financial organizations. The five public financial organizations are rated one of six categories, with S being
EconomyJuly 31, 2017
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Banned items at Incheon Airport to be separately shipped
Incheon Airport (Yonhap)Travelers using Incheon Airport will be able to keep prohibited items by storing them at the airport or sending them to an address of their choice, the Ministry of Land, Infrastructure and Transportation said Monday. Products that can be kept at the airport starting Tuesday are daily supplies, including food, cosmetics and knives. The service is not offered for guns and swords, the ministry said.Travelers can fill out a form to store or send the belongings from 6 a.m. to
IndustryJuly 31, 2017
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Korail to simplify ticket system for foreign travelers
(Yonhap)Korail, the state-run railway operator, will simplify its rail pass for foreign customers to improve their convenience, the company said Monday.The Korail Pass is a voucher designed for use on all trains operated by Korail.A total of six rail passes with the same price and validity period will be offered from Tuesday, the company said. Previously, foreign customers had to pay a different price for the rail pass depending on when they entered the country.Foreign customers will also be abl
IndustryJuly 31, 2017
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Celltrion’s Herceptin biosimilar accepted for review by US FDA
South Korean biopharma company Celltrion said Monday that the US Food and Drug Administration has accepted for review the firm’s biologics license application for Herzuma, its cheaper biosimilar copy of Roche’s blockbuster anticancer drug Herceptin.Celltrion submitted Herzuma to the US FDA in May. The US regulator is slated to announce its approval decision in the first half of 2018, according to the Korean drugmaker.Developed by Roche-owned Genentech, Herceptin is a monoclonal antibody drug pri
IndustryJuly 31, 2017
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Corporate hiring hits 7-year low
The number of employees at some of the country’s largest firms hit a seven-year low in the second quarter of the year, according to data compiled by Statistics Korea on Monday. Government data showed that the number of employees at companies with workforces of more than 300 reached 2.46 million workers in the second quarter of this year, a decrease of 25,000 compared to a year ago. The fall is the largest since the third quarter of 2010, when the number of employees at large companies pl
EconomyJuly 31, 2017
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Budget carriers face high complaints last year
The number of consumer complaints lodged against South Korea's budget carriers was nearly twice as high as complaints leveled on full-service airlines last year, a consumer rights agency said Monday. In 2016, low-cost carriers received a total of 417 consumer complaints, while Korean Air Lines Co. and Asiana Airlines Inc. received a combined 213, according to the Korea Consumer Agency. (Yonhap)By company, Jeju Air Co., the country's biggest budget carrier by sales, reported the highest number of
IndustryJuly 31, 2017
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Number of new corporations in H1 hits record high
The number of new corporations set up in the first half of this year reached nearly 50,000, setting a new record amid steady overseas demands for local products, the government said Monday.The number of new corporations set up came to 49,424 in the January-June period, up 2.4 percent from the same period last year, according to the Ministry of SMEs and Startups.Among the total, 10,107 companies were in the manufacturing industry, followed by 10,057 firms in the wholesale and retail sector, the m
EconomyJuly 31, 2017