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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Korean stocks down late Tuesday morning
South Korean stocks traded lower late Tuesday morning, as investors opted to cash in recent gains after the market closed at a fresh-high level in the previous session.The benchmark Korea Composite Stock Price Index shed 3.83 points, or 0.16 percent, to 2,447.70 as of 11:15 a.m.Market kingpin Samsung Electronics fell 0.98 percent, while major chipmaker SK hynix declined 1.92 percent.LG Chem, the country's top chemical company, fell 1.19 percent, while AmorePacific, the No. 1 cosmetics maker, was
MarketJuly 25, 2017
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Moon urges swift execution of extra budget for maximum output
President Moon Jae-in on Tuesday urged swift execution of the extra budget recently approved by the parliament, also stressing the need to maximize the efficiency and effectiveness of the additional spending."Regarding the supplementary budget, the issue is now to execute it with speed. I want you to now show that the extra budget will in fact lead to new jobs, a reduction in the youth jobless rate and economic growth with actual proof," the president said at the start of a weekly Cabi
EconomyJuly 25, 2017
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Chinese visitors in Korea drop for 4 straight months on THAAD spat
The number of Chinese tourists in South Korea more than halved last month on-year, marking a decline for four straight months following China's ban on sales of Korea-bound trips amid a diplomatic row over a US anti-missile system here, government data showed Tuesday.The tally of Chinese visitors came to 254,930, down 66.4 percent from 758,534 recorded the previous year, according to the data by the Korea Tourism Organization. The combined number of Chinese visitors in the January-June period sto
IndustryJuly 25, 2017
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Kia wins 2,500 orders for Stonic subcompact SUV
Kia Motors Corp., South Korea's No. 2 carmaker by sales, has received 2,500 orders for its new subcompact SUV since its launch two weeks ago, the company said Tuesday.Kia Motors came up with the Stonic subcompact SUV to absorb growing demand for recreational vehicles amid a global economic recovery and low oil prices.The B-segment SUV market has grown more than five times in the past five years since 2013 to 110,000 units in South Korea, the carmaker said. Kia Motors` Stonic subcompact SUV (Yonh
MobilityJuly 25, 2017
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Govt. to keep better track of migratory birds to help prevent avian influenza
The state quarantine agency said Tuesday it will work with a number of different organizations that monitor migratory birds for systematic prevention of avian influenza.The Animal and Plant Quarantine Agency said it signed memorandums of understanding with the National Institute of Biological Resources, the National Science Museum and other related organizations to share their studies and research results. (Yonhap)Migratory birds are believed to bring in AI strains to South Korea, causing a majo
TechnologyJuly 25, 2017
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Refiners' exports hit record high in H1
Exports of oil and related goods by South Korean refiners reached an all-time high in the first half of the year on firm demand and higher oil prices, industry data showed Tuesday.According to the data compiled by the Korea Petroleum Association, oil and petrochemical goods exported by SK Innovation Co., GS-Caltex Co., S-Oil Corp., Hyundai Oilbank Co. and others reached 229 million barrels in the January-June period, rising 0.4 percent from a year earlier.In terms of volume, the tally marks the
IndustryJuly 25, 2017
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Department stores see sales to Chinese drop amid THAAD row
South Korean department stores saw Chinese customers drop in the first half of the year, industry data showed Tuesday, following a sharp decline in the number of Chinese visitors amid Seoul's diplomatic tension with Beijing over a missile deployment. Lotte Department Store, the country's leading retailer, said its revenue from Chinese customers at its main store in central Seoul plunged 49 percent on-year in the first half of 2017. Shoppers are seen at Lotte Department Store in central Seoul on
IndustryJuly 25, 2017
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Effective corporate tax rate falls under official rate, data shows
The effective corporate tax rate for the country's largest companies fell below the official rate of 22 percent last year due to various adjustments, data from a conglomerate research firm showed Tuesday.Chaebul.com analyzed 131 companies who earned over 200 billion won ($179.37 million) in pre-tax profits and found their average corporate tax rate came to 18.9 percent after deductions.The selected companies included 11 affiliates of Hyundai Motor Group, nine from Samsung Group, seven under SK,
EconomyJuly 25, 2017
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Fed‘s move to cut asset holdings to increase rates in emerging markets
The move by the US Federal Reserve to reduce its massive asset holdings is expected to increase interest rates in emerging markets as a strong US dollar could spark equities fund outflows, a local think tank said Tuesday. The Fed is widely predicted to begin gradually scaling back the size of $4.5 trillion in Treasury bonds and other bond assets from September, as it has already raised interest rates from record lows set following the 2008 financial crisis. According to a report by local think t
EconomyJuly 25, 2017
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Samsung Heavy set to suspend another floating dock
Samsung Heavy Industries Co., a major shipyard here, is set to suspend work on another floating dock as it feels the pinch in the drop of new orders over the last few years, industry sources said Tuesday.According to the sources, Samsung Heavy shut down one of three on-road docks last month. The shipyard is also planning to shut down another dock later this month. Samsung Heavy runs eight docks, including four floating docks.The shipyard has been suspending part of its production facilities in g
IndustryJuly 25, 2017
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Korea revises up economic growth forecast to 3% for 2017
South Korea on Tuesday raised its growth forecast for 2017 by 0.4 percentage point to 3 percent as Asia's fourth-largest economy has been basking in brisk exports led by the global economic recovery. For the next year, the government expects the economy to pull off around 3 percent growth, according to the new economic policy plan endorsed by the Cabinet."In 2017, the economy will likely grow an improved 3 percent on the back of an upturn in exports and investment and fiscal expansion broug
EconomyJuly 25, 2017
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Samsung Bioepis‘ Renflexis hits US
South Korean biopharmaceutical firm Samsung Bioepis Co. said Tuesday that its biosimilar drug Renflexis was launched in the United States following the approval of the US Food and Drug Administration. In April, the FDA approved Renflexis -- a biosimilar referencing Janssen Biotech, Inc.'s blockbuster immunology medicine Remicade -- marking the first time that a product made by Samsung Bioepis has been given the green light to be marketed in the US, the company said.(Yonhap)The drug will be intro
IndustryJuly 25, 2017
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Korean firms step up US lobby as trade issues take center stage
S. Korea's big name exporters have stepped up their lobbying activities in the United States after the Donald Trump administration took office, data showed Tuesday, apparently to smooth out potential trade issues.US Senate Lobbying Disclosure Database showed that tech giant Samsung Electronics spent $1.47 million on lobbying activities in the first half of this year, triple the $490,000 spent in the same period in 2016. The total this year breaks down to $680,000 in the first quarter and $790,00
EconomyJuly 25, 2017
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Seoul stocks open nearly flat on profit-taking
South Korean stocks opened nearly flat Tuesday as investors sought profit-taking after the market closed at a record-high level in the previous session.The benchmark Korea Composite Stock Price Index rose 0.35 point, or 0.01 percent, to 2,451.88 in the first 15 minutes of trading.Market kingpin Samsung Electronics was 0.63 percent down, and SK hynix, a major chipmaker, also fell 1.23 percent.Hyundai Motor, the No. 1 automaker, moved up 1.03 percent.The local currency was trading at 1,117.00 won
MarketJuly 25, 2017
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SK hynix's Q2 net hits record high on strong chip sales
South Korea's No. 2 chipmaker SK hynix Inc. said Tuesday its second-quarter net profit shot up nearly ninefold, apparently helped by a strong average sales price of dynamic random-access memory and NAND chips.The record-breaking net profit came to 2.46 trillion won ($2.2 billion), soaring from 286 billion won a year earlier, the company said in a regulatory filing. Operating profit also advanced 573.7 percent over the cited period to reach a record 3.05 trillion won. Sales came to an all-time hi
MarketJuly 25, 2017
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Corporate direct financing jumps 34.8% in H1
South Korean companies' equity and debt sales jumped 34.8 percent on year in the first half, due mainly to a rise in corporate bond issuance, government data showed Tuesday. Local companies raised 82.1 trillion won ($73.5 billion) by selling stocks and bonds in the January-June period, compared with 60.3 trillion won in April, according to the data from the Financial Supervisory Service. Stock sales, including three initial public offerings, reached some 4.9 trillion won, up 39.2 percent on-year
MarketJuly 25, 2017
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Korea suggests US carry out joint study on FTA‘s economic effect
South Korea suggested the United States carry out a joint study on the economic impact of the Seoul-Washington free trade agreement before starting talks on its amendment, Seoul's trade ministry here said Tuesday."Regarding your request to convene a special session of the Joint Committee under the KORUS FTA, Korea agrees to hold the requested Joint Committee in accordance with the due procedures set in the agreement," Minister of Trade, Industry and Energy Paik Un-gyu said in a letter
EconomyJuly 25, 2017
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Consumer sentiment jumps to more than 6-year high in July
Korea's key consumer sentiment index improved for a sixth consecutive month in July to reach more than a six-year high, a central bank survey showed Tuesday, as the economy shows signs of improvement.The composite consumer sentiment index for July came to 111.2, up from 111.1 a month earlier, according to the survey from the Bank of Korea. The July figure marked the highest since January 2011 when the index stood at 111.4.A reading above 100 means optimists outnumber pessimists.Korea's exports h
EconomyJuly 25, 2017
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Moon to meet biz leaders in two groups this week
President Moon Jae-in will meet with business leaders to exchange opinions on various economic issues later this week, dividing them into two groups, the local chamber of commerce said Monday.On Sunday, the presidential office announced that the meetings with representatives from the top 14 business groups along with mid-sized food producer Ottogi will be held on Thursday and Friday at Cheong Wa Dae.The Korea Chamber of Commerce and Industry said Hyundai Motor, LG, POSCO, Hanwha, Shinsegae, Doos
IndustryJuly 25, 2017
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Cafe MangoSix CEO found dead
The CEO of the local dessert cafe franchise MangoSix has been found dead in his house in southern Seoul, police said Tuesday. (Yonhap) The body of Kang Hoon, known for his sprawling coffee franchise business, was discovered by his subordinate in a bathroom in his house in Seocho-dong at 5:46 p.m. on Monday, investigators said. No suicide note was found. His death came after he recently filed for corporate rehabilitation. (Yonhap)
CompaniesJuly 25, 2017