Most Popular
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[KH Explains] Why Korea's so tough on short selling
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[Weekender] Geeks have never been so chic in Korea
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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‘Kim desperately wanted to denuclearize,’ Moon writes in memoirs
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Actors involved in past controversies return first via streaming service originals
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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Korea set to finalize medical school expansion plans
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Seoul City to open 'hotel' on river bridge
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Mediation for victims of Samsung's work diseases behind schedule
The settlement process to resolve the dispute between Samsung Electronics Co. and its former employees suffering from work-related illnesses is behind schedule, industry sources said Wednesday, apparently as their mediation committee is still contemplating details on compensation.In July, South Korea's top chipmaker and an advocacy group representing victims of work-related diseases, the Supporters for the Health and Rights of People in the Semiconductor Industry, inked an agreement to uncondit
Oct. 24, 2018
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Samsung BioLogics Q3 operating profit down 55.7% on production changes
Samsung BioLogics said Tuesday that its third-quarter operating profit fell 55.7 percent on-year to 10.5 billion won ($9.23 million), attributing the decline to production changes at two of its biologics manufacturing plants.The company’s revenue in the July-September period reached 101.1 billion, down 19.4 percent from the previous year. The drop in revenue was also accredited to production changes at the firm’s No. 1 and No. 2 plants.Samsung BioLogics headquarters in Songdo, Incheon (Park Hyun
Oct. 23, 2018
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[Photo News] Industry visit to Samsung BioLogics
SONGDO VISIT -- Participants of the 17th World Korean Business Convention, an annual event celebrating the achievements of overseas Korean businessmen and traders and exploring new business opportunities, listen to a presentation at Samsung BioLogics’ headquarters in Songdo, Incheon, Tuesday. The theme of this year’s World Korean Business Convention is “United Hansang.” Hansang means “Korean merchants” in Korean. (Yonhap)
Oct. 23, 2018
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LG Household & Healthcare posts record-high Q3 performance
LG Household & Healthcare, South Korea’s No. 2 cosmetics and household goods maker in terms of sales, reported a record-breaking quarterly performance for its third quarter Tuesday. The company said it recorded 1.7 trillion won ($1.49 billion) in sales and 277.5 billion won operating profit in the third quarter this year. By sector, its cosmetics business saw 23.5 percent increase in sales year-on-year and 30.6 percent increase in operating profit. The performance was mainly driven by luxury cos
Oct. 23, 2018
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Posco’s Q3 operating profit hits record high
Posco, South Korea’s largest steelmaker, flagged its best ever quarterly operating profit between July and September at 1.5 trillion won ($1.32 billion), showing a sharp 36 percent on-year surge, on the back of improved performance across most businesses, the company said Tuesday.Posting over 1 trillion won in operating profit for the fifth consecutive quarter, this is the company’s highest operating profit since the Korea International Financial Reporting Standard was implemented in 2011.The fi
Oct. 23, 2018
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Diageo launches brand campaign for low-alcohol W Signature
South Korean branch of British spirits maker Diageo Korea said Tuesday that it has launched a brand campaign for its low-alcohol W Signature spirit drink to encourage consumers to better understand it.(Diageo Korea)Under theme of “How Old Are You,” the campaign aims to encourage consumers to find out the age and value of the spirit drink they choose, so they can learn the meaning and importance of the age of low-strength spirit drink.The company said it expects consumers to better determine the
Oct. 23, 2018
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Lotte Group announces W50tr investment plan for next five years
Lotte Group announced plans Tuesday to invest 50 trillion won ($44 billion) over the next five years, a move intended to quickly normalize the group’s business after its Chairman Shin Dong-bin returned to the helm after eight months away, upon being released from jail earlier this month.The retail-to-chemicals giant said it plans to invest 12 trillion won in 2019, the largest investment amount for a single year. Lotte Group Chairman Shin Dong-bin enters Lotte Group headquarters in Lotte World To
Oct. 23, 2018
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Lawmakers divided over inter-Korean economic cooperation
South Korean lawmakers from ruling and opposition parties were divided over the prospects of economic cooperation with the North during the parliamentary audit sessions on Tuesday.While the lawmakers from the ruling Democratic Party of Korea said economic cooperation with the North would help South Korean companies make a U-turn and create more jobs here, representatives of opposition parties were pessimistic, saying such cooperation would impose financial burdens on the public.Rep. Park Jung of
Oct. 23, 2018
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Online malls planning big sales for November
Online shopping malls are planning big sales for November, a month that used to be a slow season but is turning out record sales from discounts, industry officials said Tuesday.EBay Korea racked up sales in November last year through its "Big Smile Day" discounts. Although it did not disclose details, sales of home appliances are said to have increased 15 percent from the same month the previous year, clothing and fashion accessories 18 percent, beauty products 19 percent and food 14 percent. (Y
Oct. 23, 2018
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K-water succeeds in pilot water management project in Vietnam
The Korea Water Resources Corporation, or K-water, said it succeeded in its pilot project of smart water management customized for Vietnam that was carried out together with Korean companies and Vietnam’s National Center for Water Resources Planning and Investigation.They shared the performance of the pilot project during a meeting in Hanoi, Vietnam last week, according to K-water on Monday.A Korean company employee explains the equipment to monitor underground water to Vietnamese employees in H
Oct. 22, 2018
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KIPO, WIPO to hold global IP certificate course
The Korean Intellectual Property Office, jointly with the World Intellectual Property Organization, is holding a special certificate course in Seoul this week for intellectual property practitioners and learners, officials said Monday.The Advanced International Certificate Course kicks off Tuesday and runs throughout the week at the Korea Intellectual Property Service Center building in Yeoksam-dong. The event comes as part of KIPO’s sustainable efforts to promote the use of intellectual propert
Oct. 22, 2018
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LCCs to lead capacity growth for Korean aviation industry: Boeing
Low-cost carriers will continue to drive capacity growth in the Korean flight industry, which has expanded into the largest market in Northeast Asia, US aircraft manufacturer Boeing said Monday. According to Boeing, more than 70 percent of new Northeast Asian flight routes in the past three years were established by Korean LCCs. Randy Tinseth, vice president of marketing for Boeing commercial airplanes, speaks during a press conference held in Seoul, Monday. (Boeing)“LCCs are currently responsib
Oct. 22, 2018
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FTC chief to reduce legal uncertainties, urge CEOs to make fair corporate environment
The nation’s antitrust watchdog chief said Monday the agency will make efforts to reduce regulatory uncertainties while urging large companies to create a fair business environment.Fair Trade Commission Chairman Kim Sang-jo spoke at the Korea Chamber of Commerce &Industry in Seoul before around 150 executives and employees from large and small companies, including Samsung, Hyundai Motor and LG, to explain the upcoming overhaul of the fair trade law and the revision of subcontract law that was en
Oct. 22, 2018
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Cosmetics exports continue to surge
Beauty products are becoming a very important export driver, with shipments growing by leaps and bounds, a report by a local trade promotion agency said Monday. According to the Korea Trade-Investment Promotion Agency, South Korea exported $4.96 billion worth of cosmetics last year, four times more than in 2013. (Yonhap)K-beauty exports for January-September this year came to $4.6 billion, up 31.4 percent from the same period last year, the report said.Cosmetics exports last year were equal to 1
Oct. 22, 2018
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Online malls losing visitors
Online shopping sites are losing visitors, with the number falling by some 14 percent over the past two years, industry data showed Monday.The data counted 77.97 million people visiting the six major online shopping malls in September, down from 83.86 million in the same month last year. Compared with 90.89 million in September 2016, the latest figure is a 14.2 percent drop. (Yonhap)By company, TMON showed the biggest decline of 25.6 percent during the two-year period, followed by 11st, which lo
Oct. 22, 2018
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Samsung showcases new ultrasound system
Samsung Medison, a health care instrument manufacturer under Samsung Electronics Co., on Monday unveiled a new premium ultrasound system, HERA W10, which delivers improved image quality for more accurate diagnoses of patients.Samsung said HERA W10, which stands for Hyper-aperture Enhanced Reconstruction Architecture, boasts an elevenfold increase in processing power and is 10 times faster compared with its previous system, the company said.The product was introduced at the 28th World Congress of
Oct. 22, 2018
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Korea Gas Corporation confident of retaining leadership in natural gas
The Korea Gas Corporation, a public natural gas company, is seeking to solidify its leadership in the natural gas and liquefied natural gas business with continued investment at home and abroad. The company currently provides natural gas to more than 90 percent of the nation’s regions with its four LNG terminals, 72 natural gas storage facilities, and pipes measuring a combined 4,848 kilometers in length. Liquefied natural gas is widely considered a “clean” fuel because dust, sulfur and nitrogen
Oct. 21, 2018
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French students learn innovation, market pioneering at Coupang
A group of students from French business school ESCP Europe in Paris visited South Korean e-commerce company Coupang last week to learn about the local e-commerce market and gain insight into the rapid growth of Coupang, the company said Sunday.Fifteen MBA students from ESCP visited Coupang’s headquarters Thursday during their five-day trip to Korea to meet with representatives of leading Korean e-commerce, beauty and automotive companies. Coupang’s Senior Director Patxi Gueracague speaks with s
Oct. 21, 2018
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Amorepacific expands business in Australia, New Zealand
South Korea's cosmetics giant Amorepacific Group said Friday it has launched one of its brands in Australia and New Zealand as the company moves to expand its presence in the overseas market.Products of Amorepacific's luxury brand of the same name are now available at 44 MECCA Cosmetica stores in the two countries, as well as at two local online malls, it said. (Yonhap)The brand Amorepacific made its first overseas expansion in 2002 by entering the United States and is now also present in Canada
Oct. 19, 2018
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Angry franchisers sue Skinfood
Store operators of the financially struggling budget cosmetics brand Skinfood filed a lawsuit seeking compensation from the company in August, it was revealed Thursday. Four Skinfood franchisers asked the court to order Skinfood to compensate franchisers, citing poor management by Skinfood CEO Cho Yoon-ho, Skinfood confirmed. (Yonhap)In early October, Skinfood filed for court receivership because of its poor financial status. According to the regulatory filing, the company has been losing money
Oct. 18, 2018