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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Korean firms target EV charging market in US
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Samsung-AstraZeneca JV initiates clinical trials of Rituxan biosimilar in Korea
Archigen Biotech Ltd., a 50-50 joint venture between Samsung BioLogics and UK-based AstraZeneca, has initiated the clinical trials for a new Rituxan biosimilar in South Korea, Samsung BioLogics said Tuesday.According to the Korean Ministry of Food and Drug Safety, Archigen’s SAIT101 was granted approval to begin phase 1 and phase 3 clinical trials at eight local hospitals on Nov. 11. The trials in Korea are currently ongoing, the Samsung unit said.The Samsung BioLogics headquarters in Songdo, In
TechnologyNov. 22, 2016
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Asiana Airlines wins Mecenat Award
Asiana Airlines, Korea’s second-largest air carrier, has won the airline division award for this year’s Mecenat Awards, the company said Tuesday.The Mecenat Award, given by the Korean Standards Association, is based on a two-month survey of 258 companies and consumers between the ages of 20 and 59 in Korea’s five largest cities. The survey includes 22 factors including business performance, human resource operations, creative management and leadership. Kim Soo-cheon, president of Asiana Airlines
IndustryNov. 22, 2016
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Lotte Duty Free signs memorandum with major entertainment agencies
Lotte Duty Free has teamed up with 11 major entertainment companies in Korea to work on connecting Hallyu content and tourism, the company said Tuesday. The companies include Hallyu heavyweights such as S.M. Entertainment, JYP Entertainment, and YG Entertainment. Under the agreement, Lotte Duty Free will incorporate Hallyu into its marketing by signing Korean stars as its spokesmodels, while the entertainment agencies will give support by providing models and content to the company. A promotiona
IndustryNov. 22, 2016
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Samsung says no confirmed cases of faulty batteries in Galaxy S7
Samsung Electronics Co. has said there has been no confirmed cases of faulty batteries with the Galaxy S7 smartphone, amid foreign media reports that some of the devices caught fire while charging. The statement by Samsung's American unit, issued last Friday, came as Samsung is trying to limit the damage done by the unprecedented discontinuation of the Galaxy Note 7 over safety concerns. "Samsung stands behind the quality and safety of the Galaxy S7 family. There have been no confirmed cases of
TechnologyNov. 22, 2016
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Korea to diversify financial derivative products
South Korea's financial authorities announced a package of measures Tuesday aimed at enhancing the global competitiveness of the local derivative market.Since introducing derivative products two decades ago, South Korea has been a leading player in the field among Asian economies. A computer-generated imagery of a exchange-traded note (ETN). (Yonhap)But its market remains heavily dependent on stock index-linked instruments.The volume of such products traded here last year accounted for 68.9 perc
Nov. 22, 2016
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Korea's deficit in intellectual property rights narrows in Q2
South Korea's deficit in the trade of intellectual property rights narrowed in the second quarter from a year earlier on reduced shortfalls from the trademark and franchise sector, the central bank said Tuesday.In the April-June period, South Korea posted a trade deficit ofUS$160 million in intellectual property rights, compared with $580 million a year earlier, showed data from the Bank of Korea (BOK).South Korea exported $2.34 billion and imported $2.5 billion in intellectual property rights i
IndustryNov. 22, 2016
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Sales for Korean firms drop for 2nd consecutive year in 2015
Total sales for South Korean companies dropped for two straight years in 2015 from a year earlier amid a protracted economic slump and low oil prices, government data showed Tuesday.The combined sales from 12,181 companies, excluding financial firms, reached 2.16 trillion won ($1.84 billion) last year, down 3.2 percent from a year earlier, according to the data compiled by Statistics Korea. It is based on a survey of 12,460 companies with more than 50 regular workers and a paid-in capital of mor
IndustryNov. 22, 2016
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Korea leads world in penetration of fast broadband Internet
South Korea ranked first worldwide in terms of the penetration rate of fast broadband Internet, which transmits data at a speed of over 100 Mbps (megabits per second), according to a report by KT Corp. on Tuesday.About 14.9 percent of South Korea's total population, or 7.58 million people, subscribed to the fast broadband Internet services, KT said, citing a recent survey by market researcher Ovum. KT Corp.'s ultra-fast broadband Internet service (Yonhap file photo)Singapore came in second with
TechnologyNov. 22, 2016
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Alipay opens first overseas customer center in Korea
Alipay, China's largest online payment service provider, opened its first-ever overseas customer center here in Seoul on Tuesday, a move that will help boost the Chinese firm's market presence while also helping to attract more Chinese visitors to the country, a local trade agency said.The Alipay service center is located at Seoul's COEX exhibition center, and will provide various customer services to Chinese visitors ranging from online payment services to luggage storage and business lounge se
TechnologyNov. 22, 2016
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[Herald Interview] Ronan by Clinet adds refined touch to Korea’s affordable wine market
Affordability is the recent trend in South Korea’s alcoholic beverage industry. And to break away from the luxurious yet costly image, a growing number of wine and whisky brands are rolling out lower-cost drinks.Having pioneered the trend, Korea’s retailer HomePlus unveiled a lineup of red and white wines made by Ronan by Clinet. They are produced in Bordeaux, France, and sell for 18,900 won ($16) per bottle. Ronan Laborde, the CEO of a prestigious wine brand Chateau Clinet, promotes Ronan by Cl
IndustryNov. 22, 2016
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Hanjin Shipping sells Pacific route, related assets for 37 bln won
Hanjin Shipping Co. said Tuesday it has decided to sell parts of its container shipping businesses, including the US-Asia route and related assets, to Korea Line Corp. for 37 billion won ($31.4 million) as it struggles to secure much needed cash.In a regulatory filing, Hanjin, once the country's No. 1 shipper, said it would hand over its Pacific shipping route business and related customer management and operation information, and subsidiaries and logistics management systems in the US, China, V
IndustryNov. 22, 2016
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Consumers giving up spending on gloomy economic outlook
Third-quarter household spending shows a persistent slump in consumption, including in basic foodstuffs, the state statistics office said Tuesday.Expenditures for foodstuffs and non-alcoholic beverages by households of two persons or more fell 3.2 percent in the July-September period compared to the same months last year, according to Statistics Korea. It marks the fourth straight quarter of a fall, the longest since the agency started keeping records in 2003."Real" household spending, which inc
Nov. 22, 2016
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Savings banks' net widens 72%: FSS
South Korea's savings banks improved their financial soundness in the first nine months of this year partly thanks to a sharp increase in their net profits, official data showed Tuesday.The aggregate net income of 79 savings banks here jumped 71.8 percent on-year to 764.5 billion won ($644 million) during the January-September period, according to the Financial Supervisory Service (FSS). It added the figure is a provisional one.Their total assets came to 49.9 trillion won as of Sept. 30, up 6 tr
Nov. 22, 2016
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Korea, MERCOSUR hold preliminary talks on FTA
South Korea and the South American trade bloc MERCOSUR had preliminary talks on launching official negotiations on a trade deal, as Asia's fourth-largest economy is seeking to tap deeper into the populous region, the trade ministry here said Tuesday.At the two-day exploratory dialogue held in Buenos Aires, Argentina, on Monday (local time), representatives of South Korea and four members of MERCOSUR, which means the Southern Common Market in Spanish and consists of the countries of Argentina, Br
Nov. 22, 2016
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Korean economy intact from Choi scandal
The South Korean economy remains "on track" despite the influence-peddling scandal which rocked the country over past few weeks, an official from the Organization for Economic Co-operation and Development (OECD) said Monday.Randall Jones, the OECD's Japan and Korea desk head, said there has been no significant change in the country's stock and foreign exchange market in relation to the scandal surrounding President Park Geun-hye's confidante Choi Soon-sil, who allegedly exerted influence on stat
Nov. 21, 2016
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‘Samsung’s acquisition of Harman is not about carmaking’
Samsung Electronics on Monday reaffirmed its intention of becoming a Tier 1 car supplier instead of becoming an automaker, denying rampant speculation that had followed its surprise announcement to acquire a leading maker of connected car solutions“Over the last week since the Samsung-Harman deal, we have visited many key automotive clients globally and made sure that we wanted to become primary solution provider, Tier 1,” said Harman International Industries’ CEO Dinesh Paliwal at the press bri
TechnologyNov. 21, 2016
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[Behind the wheel] Mercedes-Benz targets SUV market with GLS, GLE Coupe
Mercedes-Benz has recently launched two sport utility vehicles, GLS and GLE Coupe, in South Korea to target the growing premium SUV market. “We have achieved the goal of doubling SUV sales this year thanks to the continued rollout of upgraded models,” Mercedes-Benz Korea CEO Dimitris Psillakis said at a recent launch event. The chief also added that the SUV market in Korea is expected to continue growing, despite the saturated vehicle market here.The German auto giant had sold 7,454 SUVs this y
MobilityNov. 21, 2016
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[Kosdaq Star] Amotech’s technical expertise in materials brightens growth prospects
Market watchers have their eye on Amotech, a leading firm in the integrated part materials field, as its long-term growth prospects look bright with the backing of outstanding capabilities to develop new materials. Founded in 1994, the company’s technical expertise has been strengthened in light of the development of the country’s telecommunication products, information technology-based home appliances and energy-related products. It owns a total of 549 domestic and overseas patents, as of Janua
Nov. 21, 2016
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Hanwha E&C stresses safety management
South Korea’s Hanwha Engineering and Construction stressed the importance of safety and preventing disasters at construction sites at its annual safety event, the company said Monday. Hanwha E&C held its annual promotion of occupational health and safety at an apartment construction site in Suwon, Gyeonggi Province, which was designated by the company as an excellent example of a safe construction site. Hanwha E&C CEO Choi Kwang-ho (second from left) looks at a construction site with the chiefs
IndustryNov. 21, 2016
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GS Caltex becomes first Korean company to import US crude oil in 41 years
GS Caltex has become the first South Korean company to import US crude oil in 41 years, the company said Monday. Korea’s second-largest oil refiner said the large crude carrier IZKI loaded with 1 million barrels of US Eagle Ford Crude arrived Sunday at a port in Yeosu, South Jeolla Province. The company purchased the crude in July. The unloading work will be finished by Tuesday. Unloading work is underway for the crude oil imported from the US, at a port in Yeosu, South Jeolla Province, Monday.
IndustryNov. 21, 2016