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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Battery problems persist in exchanged Samsung Galaxy Note 7
Samsung Electronics has been replacing its Galaxy Note 7 devices that have faulty batteries which might explode, but the new handset still has battery issues, according to a news report Friday. News channel YTN reported that a Galaxy Note 7 buyer, surnamed Choi, had received a new Note 7 through the tech firm’s recall program, which began on Sept. 19 in Korea. His new phone, however, had a battery that drained quickly, with its battery level dropping almost 1 percent every second. It also overhe
TechnologySept. 23, 2016
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Samsung heir Lee Jae-yong ranks 18th on ‘Most Influential’ list
Samsung Electronics Vice Chairman Lee Jae-yong ranked 18th on Bloomberg’s annual list of the “50 Most Influential People in the World of Finance” published Thursday. Bloomberg’s 50 Most Influential list -- now in its sixth edition -- highlights prominent figures who command the most power and influence over global financial markets, as chosen by Bloomberg’s senior reporters and editors worldwide.Lee made the Bloomberg list alongside other chiefs of major tech companies such as Tesla Motors co-fo
TechnologySept. 23, 2016
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Daewoo Shipbuilding nixes negotiation to sell headquarters building
Troubled shipbuilder Daewoo Shipbuilding & Marine Engineering Co. has terminated its negotiation to sell off its headquarters building in downtown Seoul due to drawn-out procedures, industry sources said Friday.In May, the shipbuilder picked a local property developer as the preferred bidder to sell its building, a deal estimated at some 180 billion won ($163 million).The shipyard is currently in talks with other potential investors to complete the asset sale, which is part of its self-rescue pa
IndustrySept. 23, 2016
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Seoul shares extend slight gains
South Korean stocks traded slightly higher late Friday morning, extending gains to six sessions in a row, as the US Federal Reserve has decided to keep its key rate unchanged.The benchmark Korea Composite Stock Price Index gained 3.57 points, or 0.17 percent, to 2,053.27 as of 11:20 a.m.The Fed on Wednesday maintained its target range for the federal funds rate unchanged at 0.25 percent to 0.5 percent.Large-cap stocks traded mixed across the board.Market bellwether Samsung Electronics Co. lost 1
Sept. 23, 2016
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Korea Exchange wins int'l award for Azerbaijan's trading system
South Korea's stock exchange said Friday it has received an international award for its innovative trading system exported to Azerbaijan.The Korea Exchange installed the new information and trading system on the Baku Stock Exchange last year.It was selected as the 2016 Best Technology Innovation by an Exchange in a Singapore ceremony hosted Thursday by the Futures and Options World, a global capital data service provider, according to the KRX.It added the award demonstrates the superiority of th
Sept. 23, 2016
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Park attends ceremony to launch gov't-led finance agency
President Park Geun-hye on Friday attended a ceremony to launch a government-led institution handling micro-financing services in a show of resolve to pay greater attention to the underprivileged.Based on a law enacted in March, the Korea Inclusive Finance Agency was launched to serve as a "one-stop" lending center for financially strained citizens, including workers, young entrepreneurs and college students. The agency has integrated a set of existing micro-credit and other loan service program
Sept. 23, 2016
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100 mln households to have HDR TVs by 2020: data
More than 100 million households in the world will have Ultra HD TVs equipped with the High Dynamic Range technology in five years, a U.S.-based industry tracker said Friday.A total of 107 million households with over 250 million viewers will watch shows on TVs using the latest technology, HDR, according to the Strategy Analytics.The HDR technology allows screens to deliver vivid displays by optimizing brightness depending on colors, boasting improved quality compared with previous Ultra HD TVs.
TechnologySept. 23, 2016
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Hanjin Shipping vessels allowed to unload in Germany
Cash-strapped Hanjin Shipping Co. said Friday that a German court has accepted its stay of proceedings, paving the way for its ships to unload or take on containers at ports in the European country.Vessels operated by Hanjin Shipping, South Korea's No. 1 shipper, have been stranded at sea out of fears that they would be seized by creditors or port workers. Also, service firms have refused to work for the world's seventh-largest shipping line.Hanjin Shipping sought bankruptcy protection in the U.
IndustrySept. 23, 2016
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Small-scale cosmetics firms target made-to-order manufacturing business
South Korea's small-scale cosmetics firms are targeting niche markets by launching made-to-order manufacturing for other firms, a way of expanding their businesses without the cost of having to develop their own brands and marketing them, industry officials said Friday. K-beauty has caught on globally, allowing these companies to gain the trust of foreign cosmetics brands, the officials said. They are seeking business on an original equipment manufacturing and original development manufacturing
IndustrySept. 23, 2016
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Smartphone shipment to China drops 27%
South Korean companies' exports of mobile handsets, including smartphones, to China dropped by more than 27 percent in the first eight months of the year from a year earlier amid the rising presence of Chinese rivals there, a report said Friday.According to the Institute for Information & Communications Technology Promotion, shipment of mobile handsets and related parts to the neighboring country reached $2.74 billion in the January-August period, down 27.2 percent from the same period last year
TechnologySept. 23, 2016
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Korea's exports to China shrink for 14 consecutive months
South Korea's exports to China continued to drop for the 14th consecutive month in August, the longest streak in history, data showed Friday.Outbound shipments to China came to $10.3 billion last month, down 5.3 percent from the same month last year, according to the data from the Korea International Trade Association.The rate marked the slowest on-year drop since the country's exports began to dwindle in July 2015. The rate of decline peaked at a 21.5 percent on-year plunge in January.The cut i
Sept. 23, 2016
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Bank workers stage strike against merit pay system
Around 18,000 unionized bank workers in South Korea joined a walkout Friday to protest the planned expansion of a performance-based pay system in the nation's financial industry, the government said.It marks a far lower participating rate than the Korean Financial Industry Union expected.Especially of note is that most of the employees at the four leading local banks -- Kookmin, Shinhan, KEB Hana and Woori -- stayed at work, according to the Financial Services Commission.The KFIU, an umbrella un
IndustrySept. 23, 2016
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Korean shares open tad higher
South Korean stocks opened slight higher Friday as the US Federal Open Market Committee meeting results were in line with market expectations, analysts said.The benchmark Korea Composite Stock Price Index gained 0.88 point, or 0.04 percent, to 2,050.58 in the first 15 minutes of trading.The FOMC on Wednesday maintained its target range for the federal funds rate unchanged at 0.25 percent to 0.5 percent.Large-cap stocks were mixed across the board. Market bellwether Samsung Electronics Co. shed 2
Sept. 23, 2016
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Railway services to run without disruption despite walkout: gov't
Railway services will run without any major disruption despite a scheduled strike by unionized railroad workers next week, the government said Friday.All KTX trains will run as scheduled as the government will use temporary workers, with the military also providing their skilled drivers, the Ministry of Land, Infrastructure and Transport said.Operations of other passenger train services, including Saemaul trains, will likely be reduced to around 60 percent of their normal levels should unionized
IndustrySept. 23, 2016
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[Graphic News] Overseas orders for Korean builders may hit lowest level in 10 years
Overseas orders won by South Korean builders this year is expected to drop to the lowest level in a decade possibly due to the impact of low oil prices and a protracted global economic slump, a trade association said Thursday.This year’s combined overseas orders came to $18.47 billion by Wednesday, according to data compiled by the International Contractors Association of Korea.The figure represents 53.7 percent of the $34.59 billion posted during the same period of last year, and also compares
Sept. 22, 2016
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[Monitor] Agencies under Trade Ministry hit by nearly 12,000 hacking attacks
There were nearly 12,000 hacking attempts over the past five years on organizations under the Trade Ministry, a report submitted to the parliament said Thursday. During the period, 1,119 attempts were carried out against Korea Hydro & Nuclear Power Co., including 91 so far this year.
Sept. 22, 2016
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Hyundai Engineering to unveil Hillstate Chojeon in Jinju
South Korean construction company Hyundai Engineering Co. plans to unveil a new apartment complex in the newly developed residential town Chojeon District in Jinju, South Gyeongsang Province, the company said Thursday. The company will open a model house for Hillstate Chojeon on Friday and begin sales on Sept. 27. Hillstate Chojeon will consist of nine 33-story apartment buildings with a total of 1,070 houses ranging in size from 84 square meters to 91 square meters. The Chojeon District in Jinj
IndustrySept. 22, 2016
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Hanwha Life serves society’s marginalized through CSR
In carrying out corporate social responsibility programs, Hanwha Life Insurance sticks to this principle: It should serve marginalized individuals in society and cultivate a true spirit of caring among employees. Leading the insurer’s corporate social responsibility efforts are the Hanwha Life Volunteer Corps set up in 2004. Comprised of 144 units in seven provincial divisions and the Seoul headquarters, the volunteer corps work to realize their vision of protecting everyone’s life and respectin
Sept. 22, 2016
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Renault Samsung recalls 1.8 cars per vehicle sold
Renault Samsung Motors Co., the South Korean unit of French carmaker Renault S.A., has recalled nearly two vehicles per car it sold in the last five years, according to data compiled Thursday.According to Rep. Yoon Hu-duk of the main opposition Minjoo Party of Korea, the carmaker has recalled 765,435 units between 2011 and the first half of this year, 1.8 times more than the number of vehicles it sold. A separate report by the Korea Automobiles Manufacturers Association showed that Renault Samsu
MobilitySept. 22, 2016
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Korean stock market shows ‘relief rally’ at US rate freeze
A sigh of relief was heard in the South Korean stock market on Thursday as investors here hold onto expectations that Korea could have another rate cut within the year after the US Federal Reserve decided to keep its fund rates at least until before December. The news of a rate freeze at the current range of 0.25 percent to 0.50 percent by the Federal Open Market Meeting in Washington arrived in Seoul early Thursday, sending its benchmark securities index to near the 2,060 mark thanks to a buyin
Sept. 22, 2016