Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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Hopes rise for possible Gaza truce deal
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Korea eyes exports of signature green tea
South Korea is pushing to export its most famous organic green tea brand to tap fast growing markets in the United States and other countries, officials said Tuesday.The Ministry of Agriculture, Food and Rural Affairs said it signed a contract with Handong County on the south coast and tea exporter Vision Korea Corp. on exports of "Hadong organic green tea." (Yonhap)Under the contract, the county, which accounts for half the country's organic green tea output, will create a 482-hectare cultivati
IndustryFeb. 21, 2017
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Fund market size close to W500tr
South Korea's fund market looks set to exceed 500 trillion won ($436 billion) on the growth of real estate and other alternative funds, data showed Tuesday.Funds under management totaled 498.6 trillion won, the largest-ever amount here, according to Korea Financial Investment Association. An image of real estate funds in a photo provided by Yonhap News TV. (Yonhap)It marks an increase of 43.1 trillion won from a year earlier.The volume stood at 317.2 trillion won at the end of 2012 and rose to 3
Feb. 21, 2017
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Hyundai Heavy bags order to build 2 oil tankers
Hyundai Heavy Industries Co., a major shipyard in South Korea, has received an order to build two oil tankers, industry sources said Tuesday.Under the deal with a Greek shipowner, Hyundai Heavy will build two very large crude carriers with 320,000 DWT by the end of 2018, the sources said, adding that the two sides have been in negotiations since January this year. (Yonhap)The value of the deal and other terms were not revealed, but an oil tanker with such a capacity is roughly priced at $82 mill
IndustryFeb. 21, 2017
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Korea's exports jump 26.2% in first 20 days of Feb.
South Korea's exports continued their upbeat mode in the first 20 days of February, underscoring a recovery in the country's outbound shipments, the latest customs data showed Tuesday.Exports amounted to $27.7 billion from Feb. 1-20, up 26.2 percent from the same period last year, according to the data from the Korea Customs Service. (Yonhap)The increase was led by a 51.5-percent on-year gain in exports of semiconductors and a 64.5-percent surge in petroleum products.Imports jumped 26 percent to
Feb. 21, 2017
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Govt. to encourage public firms to increase dividend payouts
The South Korean government said Tuesday that it will revise its performance evaluation criteria for state-run companies in a way to encourage them to increase dividend payouts.Their dividend payout ratio, referring to a percentage of earnings paid to shareholders in dividends, will be reflected in the government's annual business performance evaluation for state-run companies, according to the Ministry of Strategy and Finance. (Yonhap)All 321 public agencies, including the Korea Electric Power
IndustryFeb. 21, 2017
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Digital information level low among underprivileged
The level of digital information among underprivileged people in South Korea improved in 2016 from the previous year, but it remained far lower than the national average, a poll showed Tuesday.According to the survey of 15,000 people nationwide, the digital information level among the so-called information have-nots stood at 58.6 percent of the average for all South Koreans, up 6.2 percentage points from a year earlier. This undated file photo shows a handicapped child participating in an inform
TechnologyFeb. 21, 2017
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Insurers' net income falls 2.3% in 2016
The net income of South Korea's insurance companies dropped 2.3 percent on-year in 2016 due to low performance by life insurers, data showed Tuesday.They reported a combined net profit of 6.16 trillion won ($5.37 billion) for the year, versus 6.3 trillion won in 2015, according to the Financial Supervisory Service. An image of car insurance in a photo provided by Yonhap News TV. (Yonhap)Life insurers' net income decreased 25 percent to 2.69 trillion won, while that of nonlife ones jumped 27.7 pe
Feb. 21, 2017
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LG Display to start LCD supply to Samsung from July: CEO
(Yonhap)LG Display CEO Han Sang-beom on Feb. 20 hinted that the firm could start supplying liquid crystal displays to its cross town rival Samsung Electronics from as early as July this year. The two firms have been in talks on LCD supplies since Sharp, owned by Taiwan’s Hon Hai Group, notified its supply cuts to Samsung in November last year. Sources say the panel shipments are being delayed as they adjust different manufacturing technologies. “Nothing has been set in stone, regarding the suppl
TechnologyFeb. 20, 2017
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[News Analysis] Samsung's defense against widened allegations
Special investigators last week used fresh evidence to find their way through Samsung Group’s de facto leader Lee Jae-yong’ legal defense and arrest him on suspicion of bribery, embezzlement and perjury.The approval came a month after a district court had rejected the special prosecutors’ request to arrest him, citing a lack of evidence of Lee’s involvement in the scandal. Lee Jae-yong, vice chairman of Samsung Electronics Co., leaves the special prosecutor's office in southern Seoul on Feb. 20,
IndustryFeb. 20, 2017
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What smartphones mean to LG
LG Electronics is sometimes incessantly posed questions from outsiders as to why it holds on -- so fervently -- to its money-losing smartphone business. For the tech giant, smartphones are more than just a number, they are key to the new mobility era.However, the books look far from rosy. LG Electronics’ handset unit has suffered operating losses for seven straight quarters, with a cumulative operating loss of 1.2 trillion won ($1.05 billion) last year alone.Experts say the situation may not tur
IndustryFeb. 20, 2017
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More households under excessive debt burden
A growing number of households in South Korea are exposed to debt risks, especially people in their 30s and the elderly, data showed Monday.The number of "marginal households," whose debt-to-disposable income ratio is over 40 percent, came to 1.81 million last year, up 14.7 percent from 1.58 million recorded in 2015, according to National Assembly Speaker Chung Sye-kyun's policy office. An image of rising household debts. (Yonhap)It analyzed data compiled by Statistics Korea.Among the country's
Feb. 20, 2017
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Korea keeps watchful eye on US currency moves
South Korea needs to take more proactive and comprehensive measures to reduce risks from US President Donald Trump’s push to make major trading partners with the world’s largest economy pay the price for their alleged currency manipulation, experts here say.The immediate task for the country is to avoid being included in a list of currency manipulators when the US Treasury Department releases a biannual report on foreign governments’ currency policies in April. (Openas)Finance Minister Yoo Il-ho
Feb. 20, 2017
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Samsung’s reputation drops to No. 49 in the US: survey
Samsung’s reputation in the US slid to No. 49, marking the biggest drop in the recent years, a survey showed Monday. According to 2017 Reputation Quotient Ratings by Harris Poll, Samsung ranked No. 49 among 100 corporates surveyed. The firm’s reputation quotient fell 46 spots compared to 2015 when it ranked No. 3 and topped Apple and Google. Samsung came in at seventh place last year and has secured a spot in the top 10 in the last three years. (Yonhap)The Harris Poll Reputation Quotient measure
IndustryFeb. 20, 2017
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Posco expands electrical steel production
South Korea’s top steelmaker Posco held a ceremony to mark the increased capacity of its steel mill for the production of high-end Hyper No, a grain-oriented electrical steel, the firm said Monday. Posco Chairman Kwon Oh-joon (sixth from left) attends a ceremony held in Pohang, North Gyeongsang Province, Monday. (Posco)The ceremony took place at the company’s steel mill in Pohang, North Gyeongsang Province, and was attended by some 100 related officials including Posco Chairman Kwon Oh-joon. The
IndustryFeb. 20, 2017
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Korea to sell W300b worth of 50-year state bonds
South Korea will sell 300 billion won ($260.8 million) worth of the longest 50-year state bonds next month in a bid to meet growing market demand for safer assets, the Finance Ministry said Monday.“When we first introduced the longest Treasury last year, we planned to float some 1 trillion won in 2017,” Vice Finance Minister Song Eon-seog told reporters in a briefing in Sejong. “The first batch of 300 billion won will be put on auction in late March.” (Yonhap)The detailed timing and the amount o
Feb. 20, 2017
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Banks' exposure to major shipbuilders sharply down
South Korean banks' credit exposure to the country's three major shipbuilding companies was reduced by 5.4 trillion won ($4.7 billion) in 2016 due to their restructuring efforts, data showed Monday.According to the data by the Korea Enterprise Data, eight state-run and commercial banks' credit exposure to the three shipbuilding companies -- Hyundai Heavy Industries Co., Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. -- came to 46.35 trillion won as of the end of 20
Feb. 20, 2017
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Producer price rises reach 2-year record
South Korea’s producer prices rose sharply to a two-year high in January due mainly to hikes in agricultural products prices, central bank data showed Monday.The producer price index came to 102.17 last month, up 3.7 percent from 98.48 a year earlier, according to preliminary data from the Bank of Korea. Producer prices serve as an indicator of future consumer inflation. (Yonhap)The January reading marks the highest in 25 months, while the on-year gain also marks the steepest since December 2011
Feb. 20, 2017
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Average age of main stock investors increasing
South Korea’s stock investors are aging as the younger generation, partly from lack of extra money and disappointing profit rates, shuns active participation, data indicated Monday.According to securities information portal SEIBro operated by the Korea Securities Depository, the age of the main investors in the country’s top 10 market cap companies has been increasing over the past 10 years. (Yonhap)For Samsung Electronics, 2.77 percent of the investors were in their 20s as of the end of last ye
Feb. 20, 2017
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Hyundai Heavy remains in 3rd spot in order backlog
Hyundai Heavy Industries, a major shipyard in South Korea, maintained its status as the third-largest player in order backlog in January, after being relegated to the spot the previous month, industry data showed Monday.According to the data compiled by global research firm Clarkson Research Services, Daewoo Shipbuilding & Marine Engineering, another South Korean shipbuilder, ranked first in terms of order backlog as of January with 6.6 million compensated gross tons to build 99 ships, followed
IndustryFeb. 20, 2017
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Kospi’s turnover rate down sharply in 2016
South Korea’s main stock market posted a sharp drop in the share turnover rate in 2016, with the benchmark index stuck in a tight range, data showed Monday.The Kospi’s turnover rate stood at 247.15 percent, down 39.84 percentage points from 2015, according to the Korea Exchange. (Yonhap)A stock turnover rate is a measure of stock liquidity, calculated by dividing the total number of transactions by the number of listed stocks. A higher turnover rate indicates high transaction levels relative to
Feb. 20, 2017