Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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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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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Monthly users on local streaming platforms outpace Netflix, Disney+
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Hyundai, Kia see China sales plunge in June
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. saw their combined sales in China plunge in June amid intensifying competition and a lack of new models, industry data showed Friday. Hyundai Motor, South Korea's largest carmaker, sold around 60,000 cars in China last month, down 30.8 percent from a year earlier. Kia Motors saw its China sales in June drop 26.5 percent on-year to some 38,000 units, according to the data. This comes in stark contrast with others, including Japanese
July 10, 2015
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Homeplus workers slam ‘secretive’ takeover
Unionized workers at Homeplus, owned by the U.K.’s Tesco, Thursday urged the company to ensure a transparent takeover for the nation’s second-largest supermarket chain and guarantee that the sell-off will not result in job losses. “Tesco is pushing a secretive acquisition deal with foreign private equity firms, which sparks concerns on possible massive restructuring and job losses,” a union member said during a press conference held at the headquarters of Homeplus in Seoul. The move comes after
July 9, 2015
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YG‘s Moonshot not just a showbiz spin-off
Min Boon-hong, director at Code Cosme, operator of beauty brand Moonshot, poses during an interview with The Korea Herald last week. (Chung Hee-cho/The Korea Herald)When YG Entertainment, the cradle of K-pop stars Big Bang, 2NE1, Psy and many others, attracted $80 million in investment from the global luxury giant LVMH Moet Hennessy-Louis Vuitton last year, it had the entertainment industry wondering what would become of the company. And the very first tangible project was introduced in October
July 9, 2015
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Lotte compares staff to ‘cows’
Lotte Group, South Korea’s fifth-largest conglomerate, has come under fire after disclosing a poster featuring cows symbolizing employees, initially designed to encourage workers. The poster, which was put up in March, shows “seonbi” asking a farmer which of his two cows is a harder worker, and the farmer replies “they are both my precious cows.” Lotte Group’s in-house campaign poster.A “seonbi” is a word used to refer to scholars during the Joseon dynasty, and the poster is a depiction of an an
July 9, 2015
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[Graphic News] Korean population to begin to fall in 2030
South Korea saw its proportion of young people to the total population sink to an all-time low this year due to the effect of low birthrates, data showed Wednesday.According to Statistics Korea, the number of people under age 14 made up 13.9 percent of the total population.It is lower than 14.3 percent recorded in 2014 and 21.1 percent in 2000, making it the lowest-ever figure.Korea’s fertility rate, or the average number of children that would be born to a woman over her lifetime, stood at 1.21
July 9, 2015
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Mother’s corn looks to global market with corn-based tableware
Mother’s Corn (www.motherscornworld.com) is an eco-friendly baby tableware brand whose products are made of corn instead of plastic, serving parents’ needs of looking after their children’s health.Kim Mi-jin, CEO of Mother’s Corn, started the company in 2011, and has now set up a multilingual website with help from Korea’s e-commerce solution provider cafe24 (www.cafe24.com). Screenshot of Mother‘s Corn international website (cafe24)The brand has raised its awareness in over 10 countries such as
July 9, 2015
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Samsung C&T CEO positive on NPS support for merger
Samsung C&T co-CEO Kim Shin said Wednesday that the proposed merger with Cheil Industries is certain to happen if the National Pension Service supports the move. The NPS, the nation‘s largest investor, holds 11.61 percent of Samsung C&T. Of that, 11.2 percent count for its voting rights. Samsung C&T co-CEO Kim Shin Samsung “If the NPS agrees, then I am certain the merger will happen,” he told reporters, adding that he anticipates the state-run fund to make a “positive conclusion.” Kim also said
July 8, 2015
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GE advises Korea to speed up innovation
U.S. tech giant General Electric on Wednesday called for Korea to speed up its innovation to keep up with rapidly changing global trends that could make the country “easily left out.” The company suggested that Korean society and businesses adopt “industrial Internet,” “advanced manufacturing” and a “global brain” to achieve stronger homegrown innovation, wider collaboration and education to become leaders in high-value industries. “In terms of putting a stronger emphasis on the speed of innova
July 8, 2015
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LG unveils measures to shore up economy
LG Group on Wednesday unveiled a set of new measures to boost the sluggish economy amid unfavorable conditions such as the Middle East respiratory syndrome outbreak, a prolonged drought and the latest Greek financial crisis. The measures come as the nation’s fourth-largest conglomerate joins other big business groups, including Samsung and Hyundai Motor, in spurring the dull domestic consumption. As part of the efforts, LG said it plans to purchase gift cards worth 7 billion won ($6.2 million) f
July 8, 2015
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Ferrari importer names new CEO
FMK Corp., the official exclusive importer for Ferrari and Maserati, said Wednesday that it had appointed Kim Gwang-cheol as its new CEO.Kim, 59, has worked in sales for Volvo and as a board member of sales and marketing at BMW Korea. He also served as CEO for The Class Hyosung, Hyosung Toyota and The Premiun Hyosung. FMK Corp CEO Kim Gwang-cheol.Kim has successfully established import cars such as Mercedes-Benz and Toyota in the Korean market, and is also credited for using his experience in ma
July 8, 2015
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Hyundai, Kia cars win U.S. satisfaction awards
South Korea's top carmaker Hyundai Motor Co. and its sister affiliate Kia Motors Corp. said Wednesday that their models have won satisfaction awards from a U.S. automotive research company. Hyundai's Sonata ranked No. 1 among different midsize sedan brands to win the AutoPacific Vehicle Satisfaction Award, and Kia's Soul city car and the Sportage crossover SUV also claimed the top in their segments, the carmakers said in a press release. The satisfaction award, given by U.S.-based AutoPacific
July 8, 2015
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[Photo News] Debut of Chrysler's luxury sedan
Models pose next to the new Chrysler 300C, Chrysler’s next generation full-size luxury sedan presented by Fiat Chrysler Automobiles Korea in Seoul on Tuesday. (FCA Korea)
July 8, 2015
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[Photo News] Green light for gas carrier
Hyundai Heavy Industries senior vice president Shin Hyun-soo (sixth from left) and GE Aviation Marine commercial marketing director Jeremy Barns (seventh from left) pose after receiving an approval in principle by Lloyd’s Register in the U.K. on Monday for developing an environmentally friendly, 174,000-cubic-meter liquid natural gas carrier with a gas turbine engine. (Hyundai Heavy Industries)
July 8, 2015
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LG Display is No. 2 supplier of panels to Apple in Q1
South Korea's LG Display Co. emerged as the No. 2 provider of display panels to U.S. tech giant Apple Inc. in the first quarter, moving a notch up from a year earlier, data showed Wednesday.The South Korean firm was responsible for 34.5 percent of the combined iPhone display panel shipments in the January-March period of 2015, up from the 28.8 percent posted last year, when it was the No. 3 provider, according to the data compiled by DisplaySearch.Japan Display Inc. was the No. 1 panel supplier
July 8, 2015
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Samsung C&T expects W60tr in synergies from Cheil Industries merger
Samsung C&T, the trading and construction unit of Samsung Group, has reiterated its goal to double its annual sales following its tie-up with Cheil Industries, the group’s de facto holding company.Samsung C&T claimed that synergies after the proposed merger with Cheil would bring in about 60 trillion won ($54 billion) in sales with net income before taxes reaching 4 trillion won by 2020.The company said the combined entity, if approved by shareholders in a meeting on July 17, would diversify its
July 7, 2015
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SMEs urge government to resume inter-Korean tour program
A group of South Korean firms that invested in an inter-Korean tour program urged the government Tuesday to resume the long-suspended project as soon as possible, as they are grappling with heavy losses.The South has suspended the joint tour program at Mount Geumgangsan on the North’s east coast since July 2008 when a South Korean tourist was shot to death by a North Korean solider at the resort.Hyundai Asan, the main operator of the tour project, reportedly invested $196 million in building fac
July 7, 2015
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Korea’s growth to slip to 2.6% this year: think tank
A leading South Korean think tank sharply lowered its 2015 forecast of the economy’s growth Tuesday, citing falling exports and the fallout from the Middle East respiratory syndrome outbreak. In its latest economic outlook, the LG Economic Research Institute revised down its growth prediction to 2.6 percent from an earlier 3 percent estimate made three months ago. The South Korean economy expanded 3.3 percent on-year in 2014.The downgrade was largely attributed to the country’s weak exports, as
July 7, 2015
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Preorders for Kia’s K5 sedan top 6,000
Kia Motors Corp., South Korea’s second-largest carmaker, said Tuesday that preorders for the latest version of the K5 midsize sedan have exceeded 6,000 in just two weeks since its launch.The new K5 was first unveiled on June 22 with two different models and five different engine types available to customers. Its official sale and delivery are expected to start in mid-July.Since its launch, Kia Motors said it has received over 6,000 preorders, more than twice the pace of monthly sales for its exi
July 7, 2015
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Sales of equity-linked securities hit record in H1
South Korea’s issuance of equity-linked securities soared to its highest level in the first half of this year as more investors opted to indirectly buy stocks in the low interest environment, data showed Tuesday. The issuance of ELS products amounted to 47.34 trillion won ($27.61 billion) over the past six months, up 71.4 percent from a year ago, according to the Korea Securities Depository. The amount is a new half-year record and surpasses the total issuance in 2012 and 2013. Equity-linked sec
July 7, 2015
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Asiana’s second budget carrier unlikely to take off this year
Asiana Airlines’ plan to set up its second low-budget carrier within this year is unlikely to be realized as the Middle East respiratory syndrome outbreak has dealt a blow to South Korea’s second-largest carrier, industry sources said Tuesday. A customer waits for her tickets at Asiana Airlines Inc. booth at Kimpo Airport in Seoul, South Korea. (Bloomberg)“It seems hard for the new budget airline to be established by the end of this year as it’s behind schedule in applying for the transportatio
July 7, 2015