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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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Seoul City to open 'hotel' on river bridge
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CJ Group chief wins Van Fleet Award
CJ Group Chairman Sohn Kyung-shik won Van Fleet Award from the Korea Society on his contribution in strengthening ties between South Korea and the United States, the company said Wednesday.The award was accredited to his work on introducing Korean culture to the US and bridging the two countries as the former head of the Korea Chamber of Commerce and Industry, it added. CJ Group Chairman Sohn Kyung-shik receives the Van Fleet Award from Korea Society Chairman Thomas Hubbard (left) and Korea Soci
Sept. 26, 2018
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Conglomerates dominate duty-free market
South Korea’s duty-free shops run by family-controlled conglomerates such as Lotte and Shilla posted some 10 trillion won ($8.95 billion) in combined sales last year, nearly 99 percent of total sales, data showed Wednesday. (Yonhap)According to Korea Customs Service data quoted by Rep. Park Young-sun of the ruling Democratic Party of Korea, sales of chaebol duty-free stores -- Lotte, Shilla, SK Walkerhill, Shinsegae, Doota, HDC Shilla and Galleria -- came to 10.6 trillion won in the last year,
Sept. 26, 2018
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Poinix’s close-proximity method grabs attention
A senior researcher of local tech company Poinix grabbed attention at the international noise control conference with her study on the close-proximity method, according to the company Wednesday. Kim Hyun-jin, senior researcher at Poinix, presented her research on comparing measurement on noise reduction of quiet pavement at the International Congress and Exposition on Noise Control Engineering that took place from Aug. 26 to 29. Dr. Ulf Sandberg (left), an author of Tyre/Road Noise Reference Boo
Sept. 26, 2018
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[Herald Interview] ‘Transparency key to Nutrilite’s product safety’
Illnesses arising from poorly stored or cooked food frequently make headlines worldwide, despite repeated calls for higher sanitation standards.That is why designing and managing traceability systems are critical for producers of not only food but other categories of consumable products, according to Sam Kilgore, Nutrilite quality engineering manager.Sam Kilgore, Nutrilite quality engineering manager, speaks during an interview with The Korea Herald. (Amway Korea)“For dietary supplement products
Sept. 26, 2018
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Samsung Electronics tipped to log record Q3 profits on solid
Samsung Electronics Co. is expected to post a record operating profit of 17.2 trillion won (US$15.4 billion) in the third quarter, backed by firm demand for memory chips, market sources said Tuesday. The consensus by major brokerage firms marks an 18.5 percent on-year increase in the tech behemoth‘s profit for the July-September period. The revenue is forecast at 65.2 trillion won, up 5.1 percent from a year ago. The company is expected to release its third-quarter earnings preview next Friday
Sept. 25, 2018
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Louis Vuitton the most-counterfeited foreign brand in S. Korea: report
Louis Vuitton was the most frequently counterfeited foreign brand in South Korea over the past five years, a report showed on Saturday.According to data from the Korea Customs Service, government regulators uncovered imitation Louis Vuitton products valued at 183.1 billion won ($163.99 million) between 2014 and June this year, which is the largest value among counterfeited foreign luxury brands. (Yonhap)The value assessment was in terms of genuine Louis Vuitton goods.Given that more than 41.1 b
Sept. 22, 2018
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LG Chem holds event for horizontal work culture
LG Chem, South Korea’s leading chemicals company, held an event to bolster communication and understanding between millennial employees and executives, the company said Friday.The event was led by six new employees under the topic “happy companionship with millennials” during a workshop for some 300 executives, factory managers and chief researchers at its leadership center in Osan City, Gyeonggi Province, earlier this week. The participating newbies talked openly about the millennial generation
Sept. 21, 2018
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US FDA delays approval of GC Pharma’s IVIG-SN again
South Korean biopharma company GC Pharma said Friday that the US Food and Drug Administration has delayed the approval of the firm’s immunodeficiency drug IVIG-SN, demanding additional data related to the drug’s manufacturing procedures.The company had initially expected the US FDA to grant final approval for IVIG-SN, short for human normal immunoglobulin G for intravenous administration, this month.The company noted that the drug’s safety and efficacy are solid, as the product is already being
Sept. 21, 2018
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Hanwha Energy, Korea Midland Power to develop US solar plant
Hanwha Energy Corp. and Korea Midland Power Corp. will build a solar power plant in the United States by 2020, Hanwha Group said Friday. The construction of a 150-megawatt solar power plant is scheduled to begin in December 2019 and to be completed a year later in Boulder City, southeast of Nevada, the conglomerate said in a statement. (Yonhap)Hanwha Energy will be responsible for development and power generation of the plant, with Korea Midland Power contributing its know-how in power generati
Sept. 21, 2018
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Dunamu releases beta version of blockchain app builder ‘Luniverse’
Dunamu, the operator of South Korea’s leading cryptocurrency exchange Upbit, said Friday its blockchain tech research lab Lambda256 has released a beta version of its decentralized app, or dApp, builder solution “Luniverse.”Luniverse is the Dunamu-owned research unit’s proprietary blockchain service development platform that lets developers build various dApps and run token economy systems in an easier and faster manner. Using Luniverse, developers can immediately launch their planned blockchain
Sept. 21, 2018
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Korea permits 2-year regulatory sandbox period for novel ICT innovation
The National Assembly on Thursday passed a bill that grants a regulatory sandbox for new businesses in the information and communication technology sector, a development that is expected to speed up the adoption and commercialization of next-generation technologies in Korea. The bill to amend the Special Act on Promotion and Vitalization of Convergence of Information and Communications Technology was passed into law on Thursday, according to the Ministry of Science and ICT.The changes include th
Sept. 21, 2018
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OECD cuts S. Korea's economic growth forecast to 2.7% in 2018
South Korea's economy is expected to grow at a slower than expected pace this year, a Paris-based international organization said Thursday.In its interim economic outlook, the Organization for Economic Cooperation and Development expected Asia's fourth-largest economy to grow 2.7 percent this year, lower than its previous estimate of 3 percent growth made in May.For next year, the OECD also slashed its growth outlook to 2.8 percent from the previous 3 percent. (Yonhap)The OECD said the Korean ec
Sept. 20, 2018
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Biz leaders glad to have seen NK up close
The business leaders who accompanied South Korean President Moon Jae-in to North Korea this week returned to Seoul full of emotion, saying the trip had been worthwhile for the chance to see the North with their own eyes, but at the same time maintaining that it was premature to discuss doing business there. “It can be said that we went (to the North) to hear what they had to say. It was significant to have been able to witness North Korea with our own eyes. We tried to take in as much as possibl
Sept. 20, 2018
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Celltrion partners with Emory University for new atherosclerosis drug R&D
Celltrion said Thursday that it had signed an “incubation” agreement with US-based Emory University to jointly research and develop new drug candidates for atherosclerosis. An incubation agreement is an open innovation arrangement in which a firm provides its resources and business capabilities, such as research facilities, workforce and operations consulting, to an external research institute.The arrangement aims to ensure the autonomy of the research while obtaining preferential rights to disc
Sept. 20, 2018
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US exempts Korean steel from import tariff, in positive signal for local steel industry
Steel products made by South Korea’s SL Tech has been excluded from the US’ steel tariffs, marking the first case of exemption since the US imposed a quota on Korean steel shipments this May, industry sources said Thursday.The US Commerce Department earlier this week accepted US medical device manufacturer Micro Stamping’s request for a tariff exemption on ultrafine steel tubes imported from Korean steel company SL Tech.Micro Stamping uses ultrafine steel tubes made by SL Tech to produce medical
Sept. 20, 2018
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Lee Jae-yong’s lip balm ‘closed’ before camera
Is it the massive media attention he received for his copious use of lip moisturizer that’s making him shy? Samsung Electronics Vice Chairman Lee Jae-yong was seen reaching for a dab of his lip balm, but upon noticing a camera filming him, Lee withdrew his outstretched pinky, stony-faced.Lee was spotted with his ever-famous lip balm at the May Day Stadium in Pyongyang, where he was attending the Mass Games next to SK Group Chairman Chey Tae-won as part of a group of South Korean chaebol leaders
Sept. 20, 2018
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Korean trade minister says US-China trade dispute 'new normal'
South Korea's trade minister Thursday urged local companies to develop high-value-added technologies and seek new growth drivers to embrace the protracted trade tension between the United States and China, calling it a "new normal."Kim Hyun-chong expressed worries over the changing trade environment after Washington imposed a third wave of tariffs on $200 billion worth of Chinese goods and China responded with $60 billion duties on US imports. The US tariff is set at 10 percent and will rise to
Sept. 20, 2018
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S. Korean chaebol to mull NK biz opportunities upon return
South Korean business moguls are expected to start considering potential business projects in North Korea after their Pyongyang trip, according to the industry on Wednesday. According to news reports, the chiefs of the country’s three-biggest family-run conglomerates -- Samsung Electronics Vice Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo and 14 others -- are expected to hold meetings with top executives on the results of the trip after arriving in Seoul
Sept. 19, 2018
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Hyundai Engineering bolsters business in Indonesia
Hyundai Engineering signed memorandums of understanding with Indonesian officials on the expansion of its industrial facilities and the construction of a hydroelectric power plant there, an effort to increase its presence in the country’s growing market, the company said Wednesday.The industrial facilities specialize in the production of vinyl chloride monomer and polyvinyl chloride. “Based on our experience with the perfectly constructed Asahimas vinyl chloride monomer production plant in Indon
Sept. 19, 2018
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[News Analysis] North’s willingness to denuclearize raises hope for economic cooperation of two Koreas
With North Korea reaffirming its willingness to denuclearize, such as by agreeing at the third inter-Korean summit Wednesday to allow in nuclear inspectors, expectations have been raised for economic cooperation between the two Koreas, including the resumption of operations at a joint industrial park and the connection of railways.At a joint news conference in North Korea on Wednesday, the two leaders, Moon Jae-in and Kim Jong-un, vowed to end hostilities and move toward a nuclear weapons-free p
Sept. 19, 2018