Most Popular
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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First-ever meeting of president, opposition chief set to finally happen
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NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
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Experts raise concerns about Japan putting pressure on Naver over Line
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Samsung mobile chief, Google device head meet in Seoul
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
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Korea reports 3rd-largest trade surplus in March
South Korea attained its third-largest trade surplus in March and extended the surplus streak to 50 months, as imports again fell at a faster pace than exports, customs data showed Friday.The country's trade surplus came to $9.86 billion last month, up from a surplus of $7.07 in the previous month, according to the data from the Korea Customs Service.The March figure marked the 50th consecutive month of a trade surplus, with an 18.6-percent on-year jump from $8.34 billion a year earlier.It is al
April 15, 2016
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Lawmakers vow efforts for lower mobile service fees
Lawmakers here said Friday they will continue efforts to cut mobile phone service rates in the upcoming session of the National Assembly.Last year, Rep. Woo Sang-ho of the main opposition Minjoo Party and 14 party colleagues proposed legislation on eliminating basic fees, standing at around 10,000 won ($8.60) a month.Chances are slim, however, the bill will pass the current parliament scheduled to finish at the end of May."I will first submit a bill on eliminating basic fees, returning to the Na
IndustryApril 15, 2016
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Bond funds favored over stock funds for stable returns
Investors have pumped in more cash in bond funds than stock funds so far this year as they seek more stable returns, a fund rating and consulting company said Friday. Domestic bond-focused funds have seen a cash inflow of 1.37 trillion won ($1.2 billion) this year through April 12, KG Zeroin said in a statement. In contrast, investors withdrew a total of 465 billion won from their stock funds. Cash outflows from the exchange traded funds were not included in the tally, it said. Investors are inc
April 15, 2016
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Korea's jobless rate drops to 4.3% in March
South Korea's jobless rate dropped to 4.3 percent in March from the previous month's 4.9 percent, with the number of newly employed people rebounding to over 300,000 last month, a government report showed Friday.The unemployment rate for young adults also edged down to 11.8 percent last month from an all-time high of 12.5 percent in February, but the figure is the highest youth unemployment rate on record for March, the report compiled by Statistics Korea said, raising concern that the sluggish
April 15, 2016
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Korean mobile game to feature Lee Kwang-soo as new character
A South Korean game will feature a character based on actor and TV personality Lee Kwang-soo, his management said Friday.Lee will be a new character in the mobile board game "Game of Dice" created by South Korean mobile game company Joy City Co., King Kong Entertainment said. Lee Kwang-soo (OSEN)"The character 'Kwang-soo' will reflect the star's cheerful characteristics loved by many Asia fans," it said.Nicknamed "Asia's Prince," Lee is widely popular in Asia for his delightful role on variety
IndustryApril 15, 2016
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Kia Motors to showcase Niro hybrid SUV at Beijing motor show
Kia Motors Corp., South Korea's No. 2 carmaker, said Friday that it plans to showcase its Niro hybrid SUV at a motor show to be held in China later this month in a bid to test customer response ahead of its official launch there.The Niro crossover SUV will be displayed at the Beijing International Automotive Exhibition, which kicks off on April 25, according to the company. The Niro is to be launched in China in October. (Yonhap)Kia Motors' first hybrid SUV whose production is based on its own
MobilityApril 15, 2016
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Koreans consume less meat than OECD average
Koreans’ meat consumption has surged nearly fivefold in the last 30 years, but still falls behind the average intake of other rich nations, a report by Food Ministry showed Friday. (123RF)According to the Ministry of Agriculture, Food and Rural Affairs, Koreans had 51.3 kilograms of meat on average in 2014, less than 63.5 kilograms consumed by the member countries of the Organization for the Economic Cooperation and Development.The U.S. topped the list with 89.7 kilograms per capita, followed by
IndustryApril 15, 2016
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Tobacco-makers, farmers oppose sale of foreign cigarettes at military bases
Local tobacco-makers and farmers on Thursday questioned the Defense Ministry’s approval of foreign cigarettes on Korean military bases, saying it hurts national pride.A welfare committee of the ministry approved the sale of foreign tobacco brands for the first time. They include Marlboro Gold Original by U.S.-based Philip Morris, and Mevius LSS Wind Blue by Japanese maker JTI, according to Defense Ministry sources.This will be the first time that foreign cigarettes are being sold at post exchang
IndustryApril 14, 2016
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Global intellectual property forum to open in Seoul
South Korea will host the Intellectual Property Business Congress, an annual forum for the global intellectual property industry, for the first time at JW Marriott Seoul Hotel in Seoul on Friday.Around 200 IP experts, patent agency officials and corporate executives will flock to the event, dubbed IPBC Korea, to discuss current issues and challenges facing the IP segment, such as how to develop strategies to boost the value of IP.Some of the speakers for the event include IBM’s Asia-Pacific IP l
TechnologyApril 14, 2016
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[Consumer This Week] Barbie, Able C&C, Uniqlo, GS25, Dongwon
Lotte Mart introduces realistic Barbie dolls to AsiaLotte Mart has introduced a new lineup of realistic “Fashionista” Barbie dolls that includes three new body types -- tall, curvy and petite -- in South Korea on Thursday.After decades of criticism, Barbie, a brand known for its unrealistically skinny figurines, introduced new dolls with diverse physiques and hairstyles in January this year. Seoul is the first Asian market where these realistic Barbies are being introduced. Available in seven ty
IndustryApril 14, 2016
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[Market Now] Bond yields rise as QE expectations ebb
Yields on Korea’s government bonds went up in Seoul on Thursday, as the ruling camp’s election defeat sapped market expectations for the Bank of Korea’s bond purchase program. The yield for the three-year government bond rose 3.7 basis points to 1.52 percent, the highest this month, while the five-year note’s yield closed 4.2 basis points higher at 1.607 percent. The yield on 10-year debt rose 4.5 basis points to 1.844 percent. President Park Geun-hye’s Saenuri Party lost its majority status in
April 14, 2016
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Coupang logs threefold jump in 2015 sales
Coupang, South Korea’s leading e-commerce operator, said Thursday its sales jumped more than threefold in 2015 due to its delivery service, but its operating loss widened due to big investments in logistics capacity. Coupang posted 1.13 trillion won ($ 976.66 million) in sales last year, becoming the first social commerce operator to break the 1 trillion mark in the nation, its regulatory filing showed. Despite the stellar sales growth, the firm logged 520 billion won in operating losses because
IndustryApril 14, 2016
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[Herald Interview] Korean whiskey market hungover
Whiskey consumption in Korea has always been tied to a very specific culture: drink-till-you-drop parties among businessmen who enjoy coupling the expensive drink with women in smoky underground bars.As that culture waned, so did whiskey sales. Its consumption in Korea has been falling by roughly three percent each year for the past five years, according to industry statistics. Golden Blue regional sales director Kim Ji-yeon speaks to The Korea Herald at the Golden Blue headquarters in Seoul.
IndustryApril 14, 2016
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Korean shares jump 1.7% to close above 2,000-point level
Korean shares rallied 1.74 percent Thursday amid growing expectations of a recovery in the Chinese economy. The local currency sharply fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) jumped 34.53 points to 2,015.85. Trade volume stood at 456 million shares worth 6.3 trillion won ($5.4 billion), with gainers outnumbering losers 472 to 337.The KOSPI's upswing came a day after China released strong trade data. Its exports soared 11.5 percent on-year in March.The
April 14, 2016
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Businesses call for new Assembly‘s efforts to restore economy
The nation’s major business associations called on the new National Assembly to make cooperative efforts to restore economic vitality beyond conflicts in ideology and distrust.“The business community hopes most that the newly elected lawmakers will make collective efforts to stabilize the livelihoods of ordinary citizens and restore the economy mired in a slump as the election result implies,” the Federation of Korean Industries, a business association of conglomerates, said in a statement Thurs
IndustryApril 14, 2016
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Asiana Airlines named top air carrier of 2015 by Incheon Airport
Asiana Airlines, the nation’s second-largest air carrier, was named the top airline of 2015 by Incheon International Airport on Thursday, the airport said.Asiana Airlines took top honors in the over 5-million-passenger category for Airline of the Year. T’way Airlines and Eastar Jet were named best for the 500,000-passenger group.In smaller categories, AirAsia X, Emirates, Delta Airlines, Lao Airlines, Hawaiian Airlines, and KLM Royal Dutch Airlines were named Airline of the Year.At the awards ce
IndustryApril 14, 2016
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Changed political landscape to have limited effect on stock market: analysts
The changed political landscape in the wake of Wednesday’s general election will have a limited impact on the Korean stock market, analysts here said Thursday.The benchmark Korea Composite Stock Price Index rose 1.34 percent to trade at 2007.77 as of 2 p.m. Thursday on China’s better-than-expected March trade data and gains on global stocks the previous day. The tech-heavy KOSDAQ inched down 0.24 percent to mark 691.78 at the time. KOSPI jumps 1.75 percent to close at 2015.93 Thursday. Yonhap Ne
April 14, 2016
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[Photo News] Environment Ministry, Starbucks join hands for coffee recycling
COFFEE RECYCLING - Vice Environment Minister Jeong Yeon-man (second from left) and Starbucks Coffee Korea CEO Lee Seock-koo (third from left) water a plant Thursday after signing an agreement to turn used coffee grounds collected across Starbucks outlets nationwide into eco-friendly compost, animal feed and other repurposed substances for local usage. This year, the two plan to collect roughly 3,500 tons of used coffee grounds for recycling purposes. (Starbucks Coffee Korea)
IndustryApril 14, 2016
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CJ Korea Express expands presence in global cargo delivery market
CJ Korea Express, the shipping unit of South Korean conglomerate CJ Group, is expanding its presence in the global cargo delivery market by securing major deals with clients around the world and partaking in global construction projects. In January, CJ secured a deal with GS Engineering & Construction to deliver its equipment to be used in building the Socar Turkey Aegean Refinery, to the Port of Aliaga in western Turkey, the company said.CJ Korea Express loads up cargo to be shipped to Turkey f
IndustryApril 14, 2016
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Impala sedan production sparks GM labor dispute
Whether to import the popular Impala sedan or manufacture it at home is becoming a seed of labor dispute between GM Korea‘s management and its union.Last week, the Korean unit of U.S. General Motors decided to continue importing Chevrolet’s premium sedan Impala instead of producing them here.But the automaker’s labor union said in its statement that the management’s decision is tantamount to breaking trust between labor and management, warning that the company “will have to pay a huge price for
MobilityApril 14, 2016