Most Popular
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Samsung under pressure after Intel's foundry spin-off: analysts
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Yoon leaves for Prague to cement nuclear energy push
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Heavy rain to fall nationwide over weekend, but warmer fall expected
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Seoul chastises predatory pricing claims over Czech nuclear export deal
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YouTuber under fire for consoling former singer accused of bullying
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NK newspaper 'unusually' silent on new missile tests: Seoul
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Samsung CEO introduces ‘bold growth’ as new target
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Bank of Korea eyes rate cut after US Fed's historic pivot
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3 suspects apprehended for selling celebrity deepfake porn: police
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Hyundai Motor officially becomes KT’s largest shareholder
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Seoul shares jump 2.62 percent on ECB chief's pledge
South Korean stocks rallied 2.62 percent Friday as cheering remarks by the European Central Bank (ECB) chief offered investors a sense of reassurance against the persistent eurozone crisis, analysts said. The local currency gathered ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) rose 46.69 points to close at 1,805.92. Trading volume was moderate at 393.4 mil
July 27, 2012
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Seoul shares open higher on Draghi remark
South Korean stocks got off to a strong start Friday, as the eurozone central bank chief's pledge to save the euro boosted investor confidence, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) rose 27.57 points, or 1.55 percent to 1,810.04 in the first 15 minutes of trading.Shares gathered ground across the board, with top-cap Samsung Electronics rising nearly 2 percent and le
July 27, 2012
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SME biz outlook hits over 3-year low for August
The business outlook by small and medium enterprises for August fell to an over three-year low, reflecting persistent global economic uncertainties, a poll showed Thursday.The Korea Federation of Small and Medium Business survey on 1,354 businesses showed the small business health index dropping to 80.8 for next month, down 4 percentage points from July and the lowest since 77.4 tallied in April 2009.An index reading below 100 means pessimists outnumber optimists.“The drop is due to problems fac
July 26, 2012
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Korea to expand financing support for shipbuilders
Korea will expand financing support for local shipbuilders struggling with cash shortages caused by less global demand and tightened credit lines, the finance ministry said Thursday.Shipbuilders are facing bleak business conditions as the eurozone debt problems and global economic slowdowns result in less demand. Financing needed to produce ships has also been squeezed as European banks reduced lending in the wake of their recent credit downgrades. Korea is home to world leading shipbuilders, in
July 26, 2012
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Korea inspires Indian government officials
A group of mid-level Indian government officials is visiting Seoul to learn about Korea’s economic development.The Korea Development Institute School said on Thursday that the officers from the Indian Administrative Service are attending the 7th Mid-Career Training Program.KDI School has been in cooperation with India’s leading research institute ― LBS National Academy of Administration ― to operate the training program for Indian government officials. Since 2007, officials from India have visit
July 26, 2012
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FTAs open up Korea’s law market
For many attorneys licensed outside of Korea, the nation’s ratification of free trade agreements with the European Union and the United States in the past year represent new opportunities. The real competition, however, may have to wait for five years.Prior to the agreements, lawyers from the U.S. and EU member countries could work in Korea, but under the designation of “foreign legal consultants.” An FLC may assist a client in matters relating to foreign or international law, and potentially in
July 26, 2012
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Global demand for senior executives still high
Stanton Chase International picks ‘diversity’ as top skill global executives must haveTop officials from a leading global executive search firm said the senior executive consultant market is still in high demand around the world despite the global economic slowdown.Speaking in an interview with The Korea Herald this week, the board members of Stanton Chase International stressed that the senior executive search business has become more competitive to satisfy the clients’ needs. “The trend in the
July 26, 2012
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Seoul shares gain 0.74 percent on institutional buying
South Korean stocks closed 0.74 percent higher Thursday as investors hunted for bargains following a recent plunge, analysts said. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.16 points to 1,782.47. Trading volume was moderate at 398.9 million shares worth 3.63 trillion won ($3.16 billion), with gainers outpacing losers 502 to 3
July 26, 2012
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Seoul shares turn lower after strong start
South Korean stocks turned lower after a strong start on Thursday as poor U.S. corporate earnings raised concerns over a global economic downturn, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.24 points, or 0.13 percent, to trade at 1,767.07 in the first 15 minutes of trading.Market heavyweights traded mixed, with top-cap Samsung Electronics rising 0.35 percent and f
July 26, 2012
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Korean economy grows 0.4 percent on-quarter in Q2
The quarterly growth of the South Korean economy more than halved in the second quarter from three months earlier as the persisting eurozone debt crisis eroded exports, the central bank said Thursday.Asia's fourth-largest economy grew 0.4 percent in the April-June period, slowing from a 0.9 percent on-quarter expansion tallied in the first quarter, according to an advance estimate by the Bank of K
July 26, 2012
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Hansae donates 3,000 clothes to Indonesia
Hansae, a top global exporter of clothing, celebrated Indonesia Children’s Day by giving away some 3,000 articles of clothing to the local needy children in South Jakarta on July 14. The donation event was sponsored by the international humanitarian and development NGO Good Neighbors. The celebration saw over 600 participants, ranging from the local children to Indonesia’s Child Protection Commission, company officials said. Entertainment was provided by the young recipients, who delighted in pr
July 25, 2012
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Companies join blood donation rush
Some business conglomerates are putting much effort into donating blood, aiming to help society as well as heighten their brand reputation.Kumho Asiana Group, a composite business specializing in chemicals, construction and shipping, has been promoting blood donation since 2004 in cooperation with the Korea Red Cross. It holds a blood donation drive once a year and stresses the importance of the campaign during its recruiting session to encourage more people to donate.The corporate will hold a b
July 25, 2012
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Electricity consumption hits record highs: KPX
The state-run supervisor of electricity supply and consumption warned on Wednesday that power consumption nationwide has been hitting new records in the past couple of days, mostly due to the scorching summer heat. The Korea Power Exchange reported on Wednesday that the maximum consumption rate hit 73.3 million kilowatts between 2 p.m. and 3 p.m., slightly higher than the day before. Between these hours, the average temperature nationwide reached 33 degrees Celsius, or 91.4 Fahrenheit. According
July 25, 2012
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International air passenger traffic jumps 14.6% in H1
Korea’s international air passenger traffic jumped 14.6 percent on-year in the first half due to a sharp rise in foreign visitors and more Koreans traveling abroad, the government said Wednesday.The number of international air passengers came to 22.87 million, the highest number ever for the six-month period, according to the Ministry of Land, Transport and Maritime Affairs.The previous first-half record was reached in January-June of last year, when numbers hit 19.95 million.The ministry said c
July 25, 2012
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Seoul shares fall 1.37 pct on Spain, Greece woes
South Korean stocks hit a yearly low on Wednesday as worries over debt-mired Spain and Greece further weighed on investor sentiment already dampened by a worsening global economy, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) retreated 24.62 points to 1,769.31, the lowest close for the year.Trading volume was moderate
July 25, 2012
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France to request surveillance of EU-Korea free trade deal
France is to ask the European Union to put its Free Trade Agreement with South Korea under surveillance as part of a recovery plan for its auto sector, according to elements of the plan obtained by AFP.The plan, to be presented to cabinet Wednesday, will also boost purchasing bonuses for buying environmentally friendly cars and see the government committing to 25 percent of its new vehicles being
July 25, 2012
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Seoul shares open sharply lower on eurozone fear
South Korean stocks began sharply lower Wednesday, as signs of a worsening debt crisis in Spain and Greece unnerved investor sentiment, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) fell 28.60 points, or 1.59 percent to 1,765.33 in the first 15 minutes of trading.Shares lost ground across the board, with market bellwether Samsung Electronics slumping more than 2 percent and
July 25, 2012
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Anti-dumping duties extended on Chinese, Taiwanese yarn
Korea has decided to extend anti-dumping duties on polyester yarn products from China and Taiwan for two years to protect local manufacturers from unfair price-cutting practices, the Finance Ministry said Tuesday.The decision comes a month after the Korea Trade Commission requested slapping punitive duties of up to 6.26 percent on polyester filament partially oriented yarn from the two countries. POYs are used in clothing, cars, sofas and curtains. The domestic POY market is worth about 220 bill
July 24, 2012
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Top 10 players account for 35% of market cap: data
Korea’s top 10 market heavyweights increased their presence in the local stock market with their portion reaching 35 percent against total market capitalization, data showed on Tuesday.According to the data compiled by the Korea Exchange, the local bourse operator, the combined market cap of the top 10 players, including Samsung Electronics Co., reached 396.59 trillion won ($345 billion) on Monday.The portion has been rising steadily since reaching 33.6 percent in January, a huge jump from 28.8
July 24, 2012
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Chaebol pressured to curb circular shareholding
Cutting chains of circular investment would cost at least W4.3tr for Samsung, W6.1tr for Hyundai MotorBoth ruling and opposition politicians have been critical of the practice of circular equity investment among the affiliates of large conglomerates, which allows chaebol families to control the companies despite holding a small stake.The main opposition Democratic United Party has laid out a bill banning cross-shareholding among chaebol affiliates after a grace period of three years to get rid
July 24, 2012