Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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Hyundai Motor to recall 15,000 SUVs in China
Hyundai Motor, South Korea’s top carmaker, will recall more than 15,000 sport utility vehicles in China because of an engine defect, according to China’s quality watchdog Friday. Subject to the recall in mainland China are 15,373 Veracruz SUVs, which were produced between Jan. 8, 2007, and March 12, 2013, in South Korea and imported to China, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement Thursday. An “improper design of the cylinder head cover g
Nov. 7, 2014
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Death of ex-Samsung employee linked to work environment: court
A Seoul court ordered the government Friday to compensate a woman who died of a brain tumor after working at a Samsung Electronics Co. plant, recognizing her as an industrial disaster victim as her death was linked to the plant's work environment. Lee Yun-jeong, 32, died in 2012. She was diagnosed with a malignant brain tumor in 2010 after having worked at a Samsung semiconductor plant in central South Korea from 1997 to 2003. The Korean Workers' Compensation & Welfare Service (KCOMWEL), a go
Nov. 7, 2014
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Foreign bond ownership climbs back over 100 tr won
Bond ownership by foreign investors in the South Korean equity market surpassed 100 trillion won (US$91.5 billion) again after more than a year despite concerns about a possible rate hike in the United States, financial data showed Friday. According to the data compiled by the Financial Supervisory Service (FSS), offshore investors held a total of 100.42 trillion won worth of local bonds as of Tuesday, piercing the 100 trillion won level for the first time since it hit 100.25 trillion won on S
Nov. 7, 2014
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US trade watchdog finalizes antidumping duties for Korean NOES products
The U.S. trade watchdog ruled Thursday that imports of non-oriented electrical steel (NOES) products from South Korea are harming the domestic industry, finalizing 6.89-percent antidumping duties on Korean products. The U.S. International Trade Commission said it has determined in a 4-1 decision that the U.S. industry "is materially injured" by NOES imports from China, Germany, Japan, Korea, Sweden and Taiwan at less than fair value. As a result, the U.S. Department of Commerce will issue cou
Nov. 7, 2014
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Showbiz agencies splash into fashion
With the surging rise of the “Hallyu Wave” ― especially the unprecedented popularity of K-pop globally ― local entertainment agencies have been riding high for some years now. However, concerned at its sustainability amid future uncertainties, they now appear to be tactically diversifying their business portfolios.In particular, South Korea’s top three entertainment agencies ― YG Entertainment, SM Entertainment and JYP Entertainment ― who have been the driving force behind this cultural sweep.As
Nov. 6, 2014
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Samsung SDS IPO exceeds subscription expectations
The initial public offering for Samsung SDS Co., an IT service unit of South Korea’s top conglomerate Samsung Group, was 134.19 times oversubscribed by retail investors before it closed its order book Thursday. More than 15.5 trillion won ($14.3 billion) in subscription deposits were accepted for shares in the IT solutions firm, according to Korea Investment Securities Co., one of Samsung SDS’s book runners. About 20 percent of the shares to be sold on the country’s main bourse had been availabl
Nov. 6, 2014
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Mid-tier firms set sights on succession planning
A group of mid-tier South Korean companies underlined the growing need for the separation of ownership and control for a company’s longevity.“Time is nigh for Korean companies to study a model succession plan for their longevity, separating ownership and managerial control,” Kolmar Korea founder and chairman Yoon Dong-han said during a forum to discuss how to nurture South Korea’s model mid-tier champions. The Association of High Potential Enterprises of Korea, a newly created business associati
Nov. 6, 2014
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S-Oil supports wounded firefighters
S-Oil, a leading refinery in Korea, said Thursday that it delivered incentives worth 60 million won ($55,200) to 30 firefighters who were injured while extinguishing fires and in emergency rescues.Among these firefighters, Kim Min-ha was offered 2 million won by the company for getting wounded in a fall while trying to rescue a trapped citizen in a building in June. “By stepping up our ‘Hero Firefighters Support Program,’ we hope to offer our support for helping to boost the morale of our firefi
Nov. 6, 2014
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IATA responds to questions on intervening in Asiana sanctions
The following are excerpts of an email from Antony Tyler, CEO of the International Air Transport Association, on the association’s decision to petition the Korean government for lighter sanctions on Asiana Airlines for crashing a passenger jet in San Francisco last year. The IATA represents 240 airlines around the world. ― Ed. KH: Why did all the member airlines, excluding Korean Air, decide to support Asiana Airlines?IATA: Safety is our industry’s top priority. The accident investigation proces
Nov. 6, 2014
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Imported car sales up 16.1% in Oct.
Imported car sales in South Korea jumped 16.1 percent on-year in October, accounting for more than one-tenth of all new cars sold in the country, a local trade association said Thursday.The monthly sales figure of 16,436 vehicles is a solid gain from the 14,154 units sold a year earlier, the Korea Automobile Importers and Distributors Association said. The tally, however, represents a 3.5 percent fall from last month, when sales hit 17,027 units.“The dip compared to the month before comes as com
Nov. 6, 2014
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Hankook Tire launches new brand Laufenn
Hankook Tire Co., South Korea’s top tiremaker, said Thursday that it has launched the brand new “strategic” brand Laufenn to better cater to the specific needs of various overseas markets. The Laufenn will offer a wide range of tires that meet consumer demands and road conditions of individual countries, by focusing on essential performance areas, the company said. It said with 80 percent of the company’s sales being generated from abroad, the launch of the Laufenn brand can strengthen Hankook’s
Nov. 6, 2014
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APEC summit cars to be powered by SK batteries
A Chinese electric car, equipped with a power pack featuring lithium-ion batteries supplied by SK Innovation, has been selected as one of the official vehicles for the APEC summit in Beijing next week.SK Innovation announced Thursday that 50 Shenbao electric vehicles, produced by China’s state-run Beijing Automotive Group, would be deployed for the upcoming Asia-Pacific Economic Cooperation summit slated for Nov. 10-11. “The selection of Shenbao as the official car for world leaders at APEC woul
Nov. 6, 2014
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‘Shanghai-H.K. connect a disaster for Korea’
The launch of the Shanghai-Hong Kong stock connect scheme will be a disaster for South Korea’s stock market, according to a local professor specializing in Chinese finance and business.“In the short term, there will be massive capital outflows from local investors who have not been able to make a profit here on account of the low interest rates and weak stock market,” said Jeon Byeong-seo, a professor at Kyung Hee University, in an interview with The Korea Herald. The Shanghai-Hong Kong stock co
Nov. 6, 2014
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Hyundai Motor shares dip on weak sales, exchange rate: analysts
Hyundai Motor’s share price on the Seoul bourse has plunged to its lowest level in four years, raising concerns about the carmaker’s fundamentals amid weak sales and unfavorable exchange rates, analysts said Thursday. “There are many unfavorable conditions that are pushing down the prices of Hyundai Motor stocks right now,” said Song Sun-jae, an analyst at Hana Daetoo Securities.Share prices of the carmaker nosedived to 149,000 won ($137) during Wednesday’s trading session at the main local bour
Nov. 6, 2014
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Creditors to shoulder potential debts of Taihan Electric: sources
Creditors of Taihan Electric Wire Co., one of South Korea's largest electrical materials manufacturers, have agreed to take responsibility for potential future liabilities in a bid to speed up the sale of the company, industrial sources said Thursday. The creditors, including Hana Bank, will take on Taihan Electric's potential debts, which have hampered the sales of the financially troubled company, with the aim of finalizing selling the company by January 2015, the sources said. Creditors
Nov. 6, 2014
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Samsung to revamp recruiting system
Samsung Group said Wednesday it would segment its recruitment procedures by job category instead of the written test-oriented system starting in 2015, amid mounting criticism that the current hiring method was stoking overly high social costs in the job market. Starting in the second half of next year, all Samsung applicants will be asked to hand in an essay on their desired field, along with their resume, as a prerequisite to the written test, known as the Samsung Aptitude Test, Lee Jun, Samsun
Nov. 5, 2014
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Ministry fires back at ‘Choinomics’ critics
The Ministry of Strategy and Finance issued a statement on Wednesday to refute claims that expansionary economic policies promoted by Finance Minister Choi Kyung-hwan to boost the economy are confusing the market. The statement came after the Wall Street Journal published an article titled “South Korea’s Confused Growth Plan” on Monday. The U.S. business daily said Choi Kyung-hwan’s road map for growth, dubbed “Choinomics,” is as disappointing as Japan’s “Abenomics” has proven to be.The article
Nov. 5, 2014
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Korean Air chairman criticizes IATA’s support for Asiana
Hanjin Group chairman Cho Yang-ho on Wednesday criticized the International Air Transport Association’s public support for Asiana Airlines at a time when the Korean government has been considering sanctions against the air carrier over a crash-landing accident last year.“Imposing sanctions on Asiana is the job of Korea’s Land, Infrastructure and Transport Ministry,” Cho told reporters while attending a Korea-U.S. Business Council meeting in Seoul. The Hanjin chairman is also leading the nation’s
Nov. 5, 2014
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BAT launches Dunhill superslim capsule cigarette
The Korean branch of British American Tobacco launched Dunhill’s first superslim cigarette that contains natural extracts on Monday. Dunhill master blenders created the cigarette, called Dunhill Fine Cut Switch 1MG, using only Dunhill’s finest-quality tobacco leaves grown in Maryland.It offers Dunhill’s unique premium flavor that makes a smooth transition into a cool and clean taste with just one quick crush of the capsule inside the filter. Its soothing fresh taste and pleasant aroma were espec
Nov. 5, 2014
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[Herald Interview] HanmiGlobal to enter U.S., Europe with wider portfolio
HanmiGlobal, South Korea’s leading construction management firm, is focusing on acquiring domestic and foreign engineering and architecture firms to widen its service portfolio. The firm, already a big name in Southeast Asia with multiple projects in the region, plans to enter the U.S. and Europe in the long term.Based on the growing global client base, HanmiGlobal’s ultimate goal is to become a total solutions provider offering a wider range of services in engineering and construction. “Our rec
Nov. 5, 2014