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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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Robert J. Fouser] Social attitudes toward language proficiency
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[Graphic News] How much do Korean adults read?
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Korean firms target EV charging market in US
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S. Korea's agriculture-forestry output edges up in 2014
South Korea's agriculture and forestry output edged up in 2014 from a year earlier, fueled by a solid gain in the livestock sector, government data showed Thursday. Total production of the farm and forestry sector reached 47.29 trillion won (US$39.84 billion) last year, up 1.4 percent from the year before, according to the data by the Ministry of Agriculture, Food and Rural Affairs. "Production of grains, vegetables, fruits and flowers backtracked in 2014 compared to the previous year, but su
Sept. 3, 2015
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SK Telecom to be suspended 7 days for illegal subsidies
South Korea's telecom watchdog said Thursday it has slapped a seven-day business suspension on SK Telecom Co. for providing retail stores with cellphone subsidies exceeding the legal limit. Early this year, the Korea Communications Commission said it would impose a business suspension on the country's top mobile carrier for illegal subsidies to its vendors meant to lure new subscribers away from its two rivals: KT Corp. and LG Uplus Inc. The suspension will be in effect from Oct. 1-7, accord
Sept. 3, 2015
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Former POSCO chief summoned over alleged corruption
The former chief of the country's top steelmaker POSCO appeared before prosecutors Thursday to face questioning over alleged corruption. Chung Joon-yang showed up at the Seoul Central Prosecutors' Office in southern Seoul at 10:00 a.m. to undergo an interrogation as a suspect in the snowballing case. "I am sorry for causing worry to the people who cherish POSCO, people concerned with the firm, and family members," Chung told reporters. For the past six months, the prosecution has been investi
Sept. 3, 2015
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World’s 1st organic expo to be held in Goesan
About 600 businesspeople and 5,000 organic lifestyle experts will gather in Goesan, North Chungcheong Province, for the ISOFAR 2015 Goesan International Organic Expo and Industry Fair from Sept. 18 through Oct. 11.Under the theme of “Organic Life, Science Meets the Public,” the world’s first expo on organic lifestyle is expected to raise public awareness toward environmentally-friendly and organic way of living.Organic farming refers to a technique replacing the use of chemical pesticides and fe
Sept. 2, 2015
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Hyundai Heavy to join shipbuilding project for Indian Navy
Hyundai Heavy Industries is reportedly joining a project by India’s Defense Ministry to build fleet support ships for the country’s navy with India’s state-run shipyard.India’s Ministry of Defense is planning to place an order this year for one of the five fleet support ships to be built by Hyundai Heavy, a deal valued at about 350 billion won ($297 million). India’s largest state-run Hindustan Shipyard Ltd. will build the other four with technical advice from the Korean shipbuilder, according t
Sept. 2, 2015
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Brand power of Korean goods and services continues to improve
The brand competitiveness of Koreans goods and services continued to improve in 2015 from a year ago, the state-run Korea Productivity Center said in a press release Monday. The National Brand Competitiveness Index, a key indicator for the brand power of Korean goods and services, stood at 72.3 points, up from 70.3 points last year. “Competitiveness of Koreans brands has continued to improve, proven by the fact that the index has shown a significant rise in 2015 from 2004, the year the survey wa
Sept. 2, 2015
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LGE, SK Energy top rankings
LG Electronics has got a lot of positive customer feedback for the “Whisen Dual Air Conditioner” that was launched in January.The air conditioner expels wind from two outlets, whose strength and direction can be individually controlled to adjust to various needs. Users can also just use one outlet, thereby saving electricity by up to 50.3 percent.The air conditioner has an innovative “HomeChat” function, by which users can use mobile messenger app LINE or KakaoTalk to check on its status and rem
Sept. 2, 2015
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BASF Korea ups use of eco-friendly chemicals
Global chemicals company BASF is seeking to lead the way in increasing the use of less environmentally hazardous materials to manufacture chemical products in South Korea. BASF Korea said Tuesday that it had become the first in the industry to use a new chemical compound with a superior environmental profile to produce its flagship insulating polystyrene foam Neopor. The German firm now produces Neopor using a newly-developed polymeric flame retardant, instead of hexabromocyclododecane or HBCD
Sept. 2, 2015
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Doosan joins race for downtown duty-free shop
Doosan Group, a South Korean machinery and power equipment conglomerate, said Wednesday that it has decided to submit a bid to win a license for a duty-free store in downtown Seoul, joining a tough race for the lucrative business. Doosan's decision was influenced by the heavy industry-focused business group's drive to diversify its business portfolio, while other contenders are eager to enter the fast growing duty-free market estimated at some 8.3 trillion won last year. Doosan Group currently
Sept. 2, 2015
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Samsung C&T vows to create synergy, listen to shareholders
Top executives of Samsung C&T Corp., the merged entity of two key units of Samsung Group, said Wednesday they will strive to create synergy by integrating different businesses, as the group's de facto holding firm began operating early this week. Samsung C&T, the newly created entity through a merger between a construction and fashion unit of the same name and Cheil Industries Inc., was officially launched Tuesday, after a tough battle with a U.S. hedge fund that opposed the move. "We thank ev
Sept. 2, 2015
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Korea Post, eBay join forces for promotion of S. Korean goods
South Korea's postal service said Wednesday it has agreed to join hands with U.S. e-commerce giant eBay Inc. to promote South Korean smaller firms' products on the world's leading sales platform. Under the agreement, the Korea Post will provide a 5 percent discount in shipping to small local firms selling their goods on the platform. The postal service said the move will help local firms build an overseas sales network, as eBay boasts around 300 million users in 200 countries. Local small and
Sept. 2, 2015
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Samsung showcases IoT device for better sleep
South Korea's top tech giant Samsung Electronics Co. unveiled a device on Wednesday that connects to the Internet and home appliances to provide a better environment for sleeping, in its latest effort to diversify its product lineup amid ailing handset sales. The device, dubbed SLEEPsense, can analyze movement, heartbeat and respiration during users' sleep and connects to various home electronics, such as TVs and air conditioners, to provide an optimized sleep environment, Samsung said. For ex
Sept. 2, 2015
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S. Korea's travel account deficit hits 7-year high on MERS
South Korea's travel account deficit reached a seven-year high in July on the fallout from the Middle East Respiratory Syndrome outbreak, while its current account surplus narrowed from the previous month, data showed Wednesday. July's travel account deficit stood at $1.45 billion, the worst reading since a $1.65 billion shortfall in July 2008, and widening from a $1.04 billion deficit in the previous month, according to the provisional data released by the Bank of Korea. The MERS outbreak, w
Sept. 2, 2015
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Lotte shares bullish despite leadership feud
Shares of Lotte Group units have been trading bullish since the outbreak of a family feud over group leadership, data showed Wednesday, apparently due to high hopes the fight will eventually boost its governance structure. Since Japan-based Lotte Holdings Co., the de facto holding firm of Lotte Group, decided to sack founder Shin Kyuk-ho from his post in the conglomerate in late July, shares of eight listed Lotte subsidiaries have advanced 6.94 percent on average through Monday. The move to re
Sept. 2, 2015
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Korean Air's first B747-8i jumbo jet
Korean Air’s cabin attendants give a demonstration of its newest Boeing 747-8 Intercontinental’s prestige class during an opening event held at the airliner’s maintenance hangar in Incheon. The plane is the first of 10 such aircraft that the airline has on order. (Korean Air)
Sept. 1, 2015
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Shinsegae to hire over 20,000 new employees
Major South Korean retailer Shinsegae Group will hire over 20,000 workers from the second half of this year through next year, the group said Tuesday. “It’s time to work together to resolve the worst youth unemployment rate since the 1997 Asian financial crisis,” Shinsegae vice chairman Chung Yong-jin said. Under “Vision 2023,” a management plan unveiled by Shinsegae last year, the company pledged to recruit more than 10,000 employees every year for 10 years. This year, Shinsegae plans to employ
Sept. 1, 2015
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KRC’s global exchange center to open in 2017
(Korea Rural Community Corp.)The Korea Rural Community Corp. vowed to spread Korea’s advanced agricultural technologies to developing countries by establishing a new global education center in Ansan, Gyeonggi Province. The KRC on Tuesday hosted a groundbreaking ceremony of the Rural Community-International Education Exchange Center, or RC-IEEC, set to open by January 2017. The center aims particularly at sharing the know-how that Korea has accumulated in developing the rural regions, best exem
Sept. 1, 2015
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New Samsung C&T adopts collective leadership
The new Samsung C&T, the construction and trading arm of Samsung Group, was officially launched on Tuesday under a collective leadership led by four top executives.The new entity, given outright shareholder approval on July 17 to merge with Cheil Industries, is expected to serve as the group’s de facto holding company, with estimated sales of 60 trillion won ($50.9 billion) by 2020. Market insiders believe the new Samsung C&T will be one of the group’s core affiliates alongside Samsung Electroni
Sept. 1, 2015
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[SUPER RICH] Business tycoons shun payroll disclosure
More and more high-level “registered” executives at business conglomerates are resigning from their official positions at corporate affiliates, apparently fearing a public backlash following the disclosure of their salaries. Registered executives have the legal power to participate in the overall management of the companies while unregistered executives have less power in the boardroom.According to Chaebul.com, a website devoted to tracing the wealth of the superrich, among the country’s top 30
Sept. 1, 2015
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Korea mulls more Iranian crude imports
Iran is expected to become a solid business partner of Korea in the near future as officials of both governments vowed to beef up ties. Once U.S.-led sanctions against Iran are lifted, Seoul will likely increase the import of Iranian crude oil and help companies invest more in the natural resources-abundant country that has had a rocky relationship with Korea since 2010. Still, Iran is Korea’s third largest export destination in the Middle East with exports of $4.2 billion in 2014. Iran exported
Sept. 1, 2015