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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[Photo News] SK-Chongqing ties
SK Group Chairman Chey Tae-won (left) meets with Chongqing party secretary Sun Zhengcai in the Chinese city on Saturday to discuss business cooperation between the city and the South Korean conglomerate. (SK Group)
IndustrySept. 25, 2016
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KT&G emerges as global cigarette maker
KT&G is rising as the world’s fifth-largest tobacco maker as its overseas sales recorded 46.5 billion cigarettes last year, exceeding domestic sales of 40.6 billion cigarettes for the first time. The firm’s super-slim and low-tar product Esse is recognized as a contributor to sprawling growth to the sales, according to KT&G officials. A consumer buys TIME at convenience store in the US. (KT&G)In the 10 years that followed the company’s privatization in 2002, KT&G’s overseas sales saw a 15-fold j
IndustrySept. 25, 2016
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[Photo News] Global friendship tour hosted by Hyundai
Foreign students who attended the 2016 Global Friendship Tour hosted by Hyundai Motor pose at the auditorium of Inha University on Friday. Hyundai Motor provided 400 foreign students studying in Korea with opportunities to experience Korean culture through the tour. (Hyundai Motor)
MobilitySept. 25, 2016
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Georgia Gotica leads Korea’s canned coffee market
Coca-Cola has been leading a new market for the company here, for premium canned coffee, with its brand Georgia Gotica.The product has captured coffee lovers not only with its taste but also with its rich aroma since its market launch in May last year, the company said. South Koreans on average consume 428 cups of coffee a year, according to recent data by Statistics Korea. The country is the sixth-largest market for coffee in the world and its size is estimated to be 5.4 trillion won ($4.9 bill
IndustrySept. 25, 2016
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Economy headed for a long tunnel of low growth
Deteriorations in jobs and other recent economic data are stoking fears of a crisis in South Korea, but experts say the economy is more likely to enter a long and gradual spiral downward, rather than a short-term, cyclical crisis. Youth unemployment, long-term unemployment, bankruptcy and corporate credit ratings downgrades are some of the indicators that have fallen to levels last seen in the Asian financial crisis in 1997-1998, which sent Korea to near-bankruptcy. Some see them as reinforcing
Sept. 25, 2016
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[Behind the wheel] Comfortable and efficient SUV QM6 widens competition
JECHEON, North Chungcheong Province -- Motorists looking for affordable sport utility vehicles have a wider range of options now. Renault Samsung‘s latest SUV, the new QM6, has jumped into the fray, with a set of smart features designed to boost the driving experience.The QM6 inherited its “design DNA” from the SM6, Renault Samsung’s popular midsize sedan, the company said. And it does indeed look like a SUV version of the SM6, with daytime light-emitting diode headlights that have a unique futu
MobilitySept. 25, 2016
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LG Chem aims to achieve W7tr in EV battery sales by 2020
South Korea’s battery and chemical company LG Chem said Sunday it set a goal of reaching 7 trillion won ($6.3 billion) in sales for electric vehicle batteries by 2020. The battery-maker also plans to start the construction of its EV plant in Poland this year, marking its third global presence after the US and China. “We aim to become the No. 1 electric car battery-maker by 2018 in terms of market position, technology and profitability by leading the EV market poised to grow,” said Lee Woong-beom
TechnologySept. 25, 2016
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Korea’s household debt-to-GDP increases at a fast pace
Korea has one of the fastest growing levels of household debt as a percentage of gross domestic product among major economies in the world, a Switzerland-based international organization of central banks said Sunday. Between January and March this year, the ratio of Korea’s household loans to GDP stood at 88.8 percent, up from last year’s 84.3 percent. It was the third-biggest increase among the 42 countries surveyed by the Bank for International Settlements. “Korea’s household debt has reached
IndustrySept. 25, 2016
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Number of Chinese visitors falls after THAAD dispute
The number of Chinese tourists who visited South Korea in August decreased from the previous month, apparently due to political tension between the two countries over the deployment of a missile defense system here, data showed Thursday. The number of visitors from China stood at 873,771 in August, down from 917,519 in July, according to the report from the state-run Korea Tourism Organization. But it was also 70.2 percent higher than the same period in 2015, which saw a dramatic decrea
EconomySept. 25, 2016
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[Behind the Wheel] Powerful yet elegant BMW 750Li
JEJU CITY, Jejudo -- German auto giant BMW invited the press on Friday to get behind the wheel of its flagship model 750Li xDrive on Jejudo, a resort island off the southern coast of South Korea, to mark its 100th anniversary. The new gasoline model, which delivers maximum 450 horsepower with a 66.3 kilogram-meter torque, offered peppy acceleration, breaking the stereotype that the feel of a large sedan is slow and heavy. It offered comfort driving below 3,000 revolutions per minute.The highligh
MobilitySept. 25, 2016
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Competition between Korea, China intensifies in ASEAN market
Competition between South Korean exporters and their Chinese rivals has been intensifying in the 10-member Association of Southeast Asian Nations over the past years, a report showed Sunday.The report by the Korea Institute for Industrial Economics and Trade showed that Chinese exporters are steadily catching up with South Korean competitors in the ASEAN market, especially on technology goods.The report cited the "export competition index," which measures the extent to which two countries export
Sept. 25, 2016
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China begins reducing tariffs on 201 technology goods
China has begun reducing its tariffs on a range of technology goods imported from World Trade Organization members, South Korea's customs authorities confirmed Sunday. On Sept. 15, China started reducing import tariffs on 201 technology goods under the Information Technology Agreement of the WTO, according to the Korea Customs Service. China will eliminate import duties on the goods over the next three to seven years. The technology goods included TV cameras and set-top boxes for satellite TVs,
TechnologySept. 25, 2016
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More than half of Galaxy Note 7 owners get replacements in Korea
More than half of Galaxy Note 7 owners in South Korea have swapped their used phablets for new ones, six days after Samsung Electronics Co. began a replacement program as part of a global recall over battery problems, industry officials said Sunday. The number of Note 7 owners who have received replacements exceeded 200,000 as of Saturday, the officials said. About 429,000 Note 7s were said to have been sold in South Korea.Only 5 percent of Note 7 owners are said to have received a full refund,
TechnologySept. 25, 2016
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Hyundai Motor donates $115 mln over 18 years to help children fight cancer
South Korea's top automaker Hyundai Motor Co. said Saturday it has donated about US$115 million over the past 18 years to its social contribution program in the United States to help children fight cancer. Hyundai Motor launched the anti-cancer campaign, titled "Hope on Wheels," in 1998, in which $14 is raised every time a new Hyundai vehicle is sold. The automaker's accumulative donation topped the $100 million last year. Participants called for more efforts to help children fight cancer at
MobilitySept. 24, 2016
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Court rejects arrest warrant request for ex-KDB chief
A Seoul court on Saturday rejected a prosecution request to issue a warrant to arrest a former head of the state-run Korea Development Bank (KDB) who is facing a string of bribery allegations. On Wednesday, the prosecution filed for a writ to formally arrest Kang Man-soo, 71, on charges of bribery and breach of trust. The Seoul Central District Court, however, said it is hard to acknowledge the reason and necessity for the detention when Kang's major crime allegations are still disputable.
IndustrySept. 24, 2016
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Bank workers strike against merit pay system
Unionized bank employees staged an industry-wide strike Friday to protest against a plan to introduce a performance-based salary system.Banking sources said fewer than expected bank workers took part in the protest, leading to no major disruptions of banking operations nationwide.According to an estimate by the Financial Supervisory Service, as of noon, about 18,000 to 20,000 members of the Korean Financial Industry Union gathered at the Seoul World Cup Stadium in Sangam-dong, Seoul, in protest
Sept. 23, 2016
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18 investors bid for Woori Bank stakes
A total of 18 institutional investors submitted letters of intent to buy splinter stakes in Woori Bank in preliminary bidding on Friday, boosting the chance of success of the government’s fifth attempt to privatize the state-owned bank, officials said. According to the Financial Services Commission, the investors including private equity funds handed in the documents to the Korea Deposit Insurance Corp. as of 5 p.m. The number was far higher than had been expected in the financial market.Woori
Sept. 23, 2016
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[Weekender] Frustrated youth seek opportunities overseas, but reality is harsh
On an early September morning, Jung Yun-jin arrived in Seoul from her hometown of Busan. Clad in a black jacket and skirt with neatly combed hair, she was to attend a 30-minute job interview for a Korean-run company in New Zealand in the afternoon. The 24-year-old hoped that the interview would lead to the end of a year of unemployment. “I hope I stand a better chance abroad,” Jung told the Korea Herald after the interview on Sept. 6. A graduate from a four-year university in Busa
EconomySept. 23, 2016
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[Weekender] Cramming for a Samsung job
As the summer heat fades, the cooler weather heralds not just autumn but also the nation’s biggest hiring season. It’s a crunch time for college graduates and graduates-to-be, who have been polishing their resumes in hopes of landing a job at big companies like Samsung, LG and Hyundai. An impeccable resume, however, won’t guarantee the applicant an interview. One must first pass a written exam, for which previous successful applicants strongly recommend old-fashioned cramming, brushing up of one
IndustrySept. 23, 2016
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[Weekender] Elusive jobs, elusive dreams
Finding one’s first job can be a difficult task. But in a country where over 70 percent of high school graduates advance to four-year universities and the economy is visibly slowing with a bag of some serious problems, competition is reaching new heights. “With a gloomy business outlook, companies aren’t in a big hiring mood this year,” said Song Won-geun of the Federation of Korean Industries. According to its survey of some 201 major companies in Korea this week, nearly 50 percent plan a cut i
Sept. 23, 2016