Most Popular
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Naver’s Line ownership in jeopardy as Japan ups pressure
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South Korea to launch space security center under spy agency
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[Herald Interview] Guggenheim Museum makes a push for technology-based art with LG
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Korean Air fails to attract bond investors on Hanjin Shipping woes
Korean Air failed to attract investors to its bonds due to growing risks stemming from its cash-strapped subsidiary Hanjin Shipping, according to news reports that cited investment banking sources.The listed Korean flag carrier, with a credit rating of BBB-plus, was seeking to issue bonds worth 250 billion won ($218 million) with a two-year maturity through its underwriters – Dongbu Securities, Kiwoom Securities, Korea Investment & Securities and Hyundai Securities.However, the company only saw
April 11, 2016
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[Photo News] Templestay for KEB Hana clients
TEMPLESTAY FOR KEB HANA CLIENTS -- A group of expats who joined KEB Hana Bank’s Templestay Tour pose in traditional temple attire at Woljeongsa Temple, Gangwon Province, on Saturday. The bank said Monday that nearly 30 customers from 14 countries have participated in the two-day program held in partnership with the Jogye Order of Korean Buddhism. (KEB Hana Bank)
April 11, 2016
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More South Korean bank branches shuttered in 2015
The number of bank branches in South Korea declined sharply in 2015 from the previous year as more users opted for mobile and Internet banking, data showed Monday.A total of 13 national and regional banks had a combined 5,890 branches and representative offices across the nation as of end-2015, down 165 from a year earlier. SC Bank Korea headquarters in downtown Seoul. (Yonhap)Standard Chartered Bank Korea, formerly SC First Bank, posted the largest drop by cutting 71 branches last year. In thei
April 11, 2016
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Samsung narrows market share gap with Intel
Samsung Electronics is steadily closing the gap with its global rival Intel Corp. in the semiconductor sector last year, data showed Monday.As the world‘s No. 2 supplier of semiconductor chips, Samsung had a 11.6 percent market share in 2015, up 0.9 percentage point from a year earlier, according to data from industry tracker IHS.U.S.-based Intel had 14.8 percent share in terms of sales, up 0.7 percentage point on-year. The data showed that the gap between the two firms is narrowing gradually fr
IndustryApril 11, 2016
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Momentum builds on steeper minimum wage hike
Momentum builds on steeper minimum wage hikeBy Kim Kyung-hoRepresentatives from labor, management and the public sector last week undertook negotiations on setting the mandatory minimum wage to be applied at workplaces across the country next year.Korea’s minimum wage has increased at a rapid pace in recent years, in particular under President Park Geun-hye’s administration, which has tried to bolster wage earners’ income as part of efforts to reinvigorate the economy by boosting domestic consum
April 11, 2016
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Hyundai Motor’s Sonata 4th best-selling hybrid in U.S.
South Korea’s leading automaker Hyundai Motor’s hybrid car sales in the U.S. grew just over 9 percent in the first quarter to become the fourth best-selling vehicle in the segment, industry data showed Monday.The Sonata -- the only hybrid model available from Hyundai in the U.S. -- sold a total of 4,436 units during the January to March period, according to U.S. website Hybridcars.com. Hyundai Motor’s Seoul headquarters confirmed the figures. Hyundai Motor’s Sonata hybrid (Yonhap)The Sonata hyb
IndustryApril 11, 2016
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Robo advisers help lower investment barriers
Automated financial advisory platforms, also known as “robo-advisers,” are making it easier for ordinary Koreans to invest in financial products, industry officials said Sunday. Unlike conventional asset management services that require a minimum deposit of 100 million won ($86,700) at banks, brokerages and asset management firms, robo-advisers ask for just 5-10 million won.They also incur less costs for investors by using big data and computer algorithms to analyze risks and rebalance portfolio
April 11, 2016
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Seoul shares open lower ahead of key Chinese data
South Korean share prices opened in the negative on Monday as investors remained cautious ahead of the release of major Chinese economic data due this week.The benchmark Korea Composite Stock Price Index fell 3.87 points, or 0.2 percent, to 1,968.18 in the first 15 minutes of trading. As of 10:24 a.m., the KOSPI was trading 0.4 percent lower at 1963.93. Traders monitor South Korean share prices at a local bank. (Yonhap)Analysts said traders are likely to stay in selling mode as they wait for a s
April 11, 2016
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Wild tiger population on rise
After years of concerted efforts by the international community, the number of wild tigers has increased to 3,890 last year from the 2010 estimate of 3,200, World Wildlife Fund said Monday.The figure compiled by International Union for Conservation of Nature can be attributed to multiple factors including an increase in tiger population in India, Russia, Nepal and Bhutan, and enhanced protection of the endangered animal in countries. (Wild Tiger, India © Joseph Vattakaven / WWF)“For the first ti
TechnologyApril 11, 2016
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LG Electronics to give early heads-up on Q1 earnings
LG Electronics plans to issue its very first “earnings guidance” Monday, giving investors an early heads-up on its first quarter results slated to be out later this month. According to industry sources, the company will unveil its official prediction on revenue and operating profits for the January-March period after Monday’s local stock market close at 3 p.m. The Seoul-based firm is scheduled to make a full report at the end of April. Forecasts from Korea’s 20 brokerage houses have its Q1 reven
TechnologyApril 10, 2016
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Green building conference kicks off in Seoul
Global experts will discuss the role of green buildings in reducing carbon emissions at a three-day conference that kicks off in Seoul on Thursday, officials said Sunday.Hosted by the Korea Green Building Council, the conference brings representatives from the Asia-Pacific region together to seek ways to promote the use of environmentally friendly buildings after a landmark agreement reached in Paris late last year.Global leaders urged the building sector to devise ways to cut down carbon emissi
IndustryApril 10, 2016
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Global automakers eye Korea as test bed
Heads of global carmakers are flocking to Korea recently, calling the nation’s fast-growing import car market an ideal test bed for their newest vehicles. Three chiefs of Infiniti, BMW and Volvo have chosen Seoul as the first destination for their trips to Asia this year. Last week, Roland Krueger, president of Infiniti -- the luxury vehicle division of Japanese automaker Nissan -- visited Seoul to unveil the company’s new hatchbacks Q60 and Q30 along with Q80 Inspiration concept. It was the fir
MobilityApril 10, 2016
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[Photo News] BMW's new X1 model
BMW’S NEW X1 MODEL -- BMW Korea launched its new X1 xDrive 18d model this month. It has a higher fuel efficiency compared to the previous model xDrive 20d launched in February. The new BMW X1 xDrive 18d is priced from 51.4 million won ($44,606). (BMW KOREA)
MobilityApril 10, 2016
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[Photo News] Ford introduces a mobile app for customers
FORD LAUNCHES MOBILE APP -- Ford Korea said Friday it is introducing a mobile application “Ford Owners App” for maximizing customer satisfaction. Using the app, drivers can obtain information on the location of Ford’s 27 service centers in Korea. It also provides service center call service, round-the-clock emergency dispatch service, and alerts drivers on regular check-ups. (Ford Korea)
MobilityApril 10, 2016
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Jaguar XE surpasses Audi A4 sales in Q1
Jaguar Land Rover’s premium compact sedan XE surpassed the Audi A4 in sales in the first quarter of this year, industry data showed. According to the Korea Automobile Importers and Distributors Association, the Jaguar XE was the third highest selling model in the segment of imported premium compact sedans, breaking into the top three position for the first time since its launch in Korea in September. Jaguar XE (Jaguar Land Rover Korea)XE’s sales figures came in at 534 units in the January-March
MobilityApril 10, 2016
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Allianz ‘bargain’ sale highlights troubles in life insurance sector
The stunningly low price of Allianz Life Insurance Korea being sold to China’s Anbang Insurance Group highlights the depth of troubles facing Korea’s life insurers, industry sources and experts said Sunday. Anbang has agreed to buy Korean operations of the German insurance group -- Allianz Life Insurance Korea and Allianz Global Investors Korea -- for $3 million, the two announced Wednesday. Allianz Life Insurance Korea's office building in SeoulThe news -- or more precisely the price at which A
April 10, 2016
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McDonald’s Korean unit up for sale
McDonald’s, the world’s largest restaurant chain, has put its Korean unit up for sale, industry sources said.The company has asked financial services company Morgan Stanley to look for potential buyers but how much stake it wants to sell is unknown, they said.The food chain announced on March 31 its plans to search for “strategic partners” in Asia and add more than 1,500 restaurants in China, Hong Kong and Korea over the next five years.“These actions build on our turnaround efforts and will adv
April 10, 2016
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Finance Ministry to accelerate policy push after general election
Korea is preparing a renewed push for economic recovery after this week’s general election in a desperate attempt to jump-start the economy after a worse than expected first quarter, government officials said Sunday.The Ministry of Strategy and Finance plans to announce a series of policies by the end of April to boost jobs for youth and women, and to issue up to five new licenses for duty-free shops in Seoul, they said. Ministry of Strategy and Finance in Sejong City (Yonhap)The ministry’s move
April 10, 2016
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CJ chairman absent from son’s wedding
The ailing CJ Group chairman didn’t attend his son’s wedding on Saturday, due to his health condition and the court’s order that bans him from leaving the hospital, officials said Sunday.Lee Jay-hyun’s 30-month jail term is currently suspended due to complications from a kidney transparent in 2013. “The chairman could have requested the court’s permission to attend his son’s wedding but didn’t even ask for it considering his health,” a CJ official said.Lee Sun-ho (CJ Group)The chairman’s son, Le
IndustryApril 10, 2016
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LG develops world’s first UHD TV chip
LG Electronics said Sunday it has developed the world’s first TV reception chip that allows streaming ultrahigh-definition content without a separate set-top box. The breakthrough comes as global broadcasters are bracing for the next-generation digital-based UHD terrestrial broadcasting that offers diverse additional services as well as boasting better picture quality. The Korean government plans to start the broadcasting from February next year. LG is a leading player in ROUTE, or real-time o
TechnologyApril 10, 2016