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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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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[Robert J. Fouser] Social attitudes toward language proficiency
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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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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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
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President to meet top business leaders for beer, candid discussions
President Moon Jae-in was set to meet with the country's top business leaders Thursday for beer and frank discussions that may help fine-tune his economic policies, officials at the presidential office Cheong Wa Dae said.The meeting will begin at 6 p.m. with what the officials called a 20-minute beer time.The rare meeting involving beer comes at a suggestion from the president himself, according to the officials. "It will mark the first meeting with business leaders since the president's in
EconomyJuly 27, 2017
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Korea's economic growth slows in Q2 on weak exports: BOK
South Korea's economic growth slowed in the April-June period from a quarter earlier due to decreased exports, central bank data showed Thursday.In the second quarter, the country's gross domestic product increased 0.6 percent, down from the previous quarter's 1.1 percent gain, the Bank of Korea said in a statement.Exports -- one of the major pillars for the Korean economy -- fell 3 percent in the June quarter compared with three months earlier and declined 0.1 percent from the previous year, wh
EconomyJuly 27, 2017
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ABS issuance rises 15% in H1
The issuance of asset-backed securities in South Korea rose 15 percent on year in the first half of this year on the back of robust growth in sales of government-led mortgage funds, the financial regulator said Thursday. A combined 31.1 trillion won ($27.7 billion) worth of ABS were issued for the January-June period, compared with 27 trillion won for the same period last year, the Financial Supervisory Service said. ABSs are derived from underlying assets such as auto loans, home loans, credit
EconomyJuly 27, 2017
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Korea's 2nd Internet-only bank to begin operations Thursday
South Korea's second Internet-only bank, Kakao Bank, is set to begin operations Thursday, in the latest move by the government to reinvigorate the nation's banking sector suffering from weaker growth. The planned launch of Kakao Bank, led by Kakao Corp., operator of Korea's dominant messaging app KakaoTalk, came after the first Internet-only bank, K-Bank, gained wide consumer appeal. Consumers can open an account at Kakao Bank by downloading an app and verifying their personal information throug
TechnologyJuly 26, 2017
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SK Innovation to pay out 1st interim dividends
SK Innovation Co., South Korea's top oil refiner, said Wednesday that it has decided to pay out its first-ever interim dividends worth 149 billion won ($133 million) to boost shareholder value.In a regulatory filing, SK Innovation said it will pay out 1,600 won per one common and preferred share each.Last year, the refiner paid out 6,400 won per share following 4,800 won per stock each in 2015. (Yonhap)"After reviewing a variety of options for shareholder-friendly management, we decided to pay o
CompaniesJuly 26, 2017
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SK hynix to invest W9.6tr on DRAM, NAND facilities
SK hyinx Inc. said Wednesday it plans to allocate some 9.6 trillion won ($8.5 billion) this year to expand its production facilities for dynamic random-access memory and NAND chips.Through a regulatory filing, the South Korean chipmaker said it expanded the amount of investment originally estimated at 7 trillion won this year. (Yonhap)SK hynix said the investment is aimed at actively coping with changing market conditions while laying a firm foundation for its future growth. The investment will
TechnologyJuly 26, 2017
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Samsung, LG battery arms on alert on cobalt shortage
In response to a supply shortage of cobalt, a key ingredient used in lithium-ion batteries, South Korean battery makers Samsung SDI and LG Chem are stepping up development of new batteries and diversifying their material suppliers.Amid growing demand for the lithium-ion batteries that power electric vehicles and smartphones, cobalt, the key energy metal, has seen a decline in production this year driven mainly by the unstable political situation of the Democratic Republic of Congo, which account
IndustryJuly 26, 2017