Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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Tensions heighten ahead of first president-opposition chief meeting
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Seoul to provide housing subsidy to married couples with newborns
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[Music in drama] An ode to childhood trauma
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Rapper jailed after public street fight with another rapper
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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New head of doctors' association vows war in case of disadvantage to medical professors
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Lotte launches governance reform task force
Lotte Group launched a task force on governance reform Wednesday following criticism over its murky ownership structure that was laid bare in a bitter family squabble over control of the retail giant.The task force, which comprises 20 executives as well as outside attorneys and accountants, is charged with mapping out plans to list Hotel Lotte, the group's de facto holding firm in South Korea, and enhance corporate transparency, Lotte said in a press release.Lotte, the country's fifth-largest fa
Aug. 26, 2015
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Hana Financial names new CEO of KEB Hana Bank
Hana Financial Group Inc., South Korea's third-largest banking group, said Monday that it nominated a retail banking expert as the first president of its new integrated bank unit set to be launched next week.The move came after the financial regulator gave its final nod for the integration of Hana Financial's two bank units, Hana Bank and Korea Exchange Bank, last week. The integrated bank, named KEB Hana Bank, is scheduled to set sail on Sept. 1.Ham Young-joo, a vice president of Hana Bank, was
Aug. 24, 2015
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Daum Kakao names new head to speed up mobile business
South Korea's top mobile messenger operator Daum Kakao Corp. said Monday it has named a new single head, ending its co-CEO system that has been maintained since its launch last year after the merger between the two IT firms. Rim Ji-hoon, 35, head of investment firm K Cube Ventures, will become the new CEO of Daum Kakao, the merged entity of South Korea's two most-tracked IT firms at the time, Kakao Corp. and Daum Communications Corp. K Cube Ventures is an investment firm that focuses on startu
Aug. 10, 2015
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E-Land Group to open large shopping mall in China
South Korean retail giant E-Land Group said Monday that it plans to open its first shopping mall in mainland China later this year in a joint venture as part of its strategy to tap deeper into the world's biggest market. E-Land Group and Malaysia-based Parkson Group have agreed to establish a joint venture and open "Parkson-New Core Mall" in Shanghai in November. The South Korean company said it will be in charge of management of the joint venture, with a 51-percent share. Parkson Group is on
Aug. 10, 2015
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Lotte founder taking medication for Alzheimer‘s disease: sources
Lotte founder Shin Kyuk-ho, whose mental and physical health have emerged as the center of focus amid a succession feud between his two sons, was diagnosed with Alzheimer's disease a few years ago, sources said Monday, a key factor which could impact the high-profile family dispute as the two sides are sparring to win favorable shareholders. Sources at Lotte, the country's fifth-largest conglomerate, said that Shin was diagnosed with the condition that is known to incur memory impairment and de
Aug. 10, 2015
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Shin Dong-bin listed as head of Lotte's Japan investment arm
Shin Dong-bin, the chairman of Lotte Group in South Korea, has been registered as the head of an investment unit in Japan that is believed to be at the apex of the conglomerate's complex ownership structure, data showed Thursday.The documents issued by the Japanese justice ministry showed that Shin was registered as the chief executive of 10 subsidiaries of the investment unit, dubbed "L Investment Company," as of July 31.Previously, the investment affiliate was headed by Lotte founder Shin Kyuk
Aug. 6, 2015
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Daum Kakao opens IT center for handicapped in Vietnam
South Korea's top mobile messenger operator Daum Kakao Corp. said Wednesday it has opened an education center in Vietnam to provide information technology courses for the mentally handicapped.The company said the education center in Hanoi aims to narrow the digital divide in the country in cooperation with the Korea International Cooperation Agency."While employers demand handicapped jobseekers have ICT capabilities, the education infrastructure (in Vietnam) is poor," Daum Kakao said, adding it
Aug. 5, 2015
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E-Mart to rev up China business, ends store closures
E-Mart Inc., South Korea's largest discount grocer, said Wednesday it aims to end the restructuring of its Chinese business and focus on improving it, but skeptics remained negative on the company's operations in China.The retail giant, which once operated as many as 27 branches in the country, has been shutting down stores in the past five years, spurring speculation it may even exit from the Chinese market."With the Aug. 3 closure of a branch in Shanghai, there will be no additional shutdowns
Aug. 5, 2015
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Hana Financial set to begin merger process in earnest next week
Hana Financial Group Inc., South Korea's third-largest banking group by assets, is rolling up its sleeves to begin the process of merging its two flagship banks in earnest next week, a company official said Wednesday.Hana Financial has tried to merge Hana Bank and the Korea Exchange Bank since it acquired the KEB from U.S. buyout fund Lone Star in 2012. Its efforts have dragged on for years as the KEB had strongly opposed the merger until recently, citing its earlier promise to remain independen
July 15, 2015
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Samsung most reputable tech firm in U.S.: report
South Korea's Samsung Electronics Co. ranks as the most reputable technology company in the United States, a report showed Sunday, on the back of its strong products and services appealing to American consumers. Samsung, the world's largest smartphone maker, has topped such tech peers as Microsoft, Google and Intel in terms of products and services, citizenship and governance, according to the report by U.S.-based corporate appraiser Reputation Institute. Samsung ranked eighth last year. He
July 5, 2015
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U.S. hedge fund appeals court's refusal to stop Samsung merger
A U.S. hedge fund, opposing a proposed merger of two Samsung Group units, has filed an appeal against a Seoul court's dismissal of its request to block the deal, the latest in a series of legal rows unfolding against South Korea's top conglomerate over the high-profile merger. Nexus, a Seoul-based law firm representing Elliott Associate L.P., submitted a notice of appeal Friday to the Seoul Central District Court, according to the court. The objection came as the hedge fund has been seeking
July 3, 2015
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Samsung wins trademark for 'S6 EDGE+'
Samsung Electronics Co. is presumed to be putting more focus on its latest smartphone, the Galaxy S6 Edge, the variant of the Galaxy S6, documents showed Thursday, as it won a trademark for the "S6 EDGE+" earlier this week. According to the documents posted by the United States Patent and Trademark Office, Samsung Electronics has won the trademark, which indicates that the South Korean tech giant may roll out an updated edition of the quirky flagship smartphone that has drawn keen attention fro
July 2, 2015
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Bakery brand Paris Baguette opens 2nd store in Paris
South Korean confectionery giant Paris Baguette said Wednesday it has opened its second Paris store in the city's Opera district, a move that comes as the company is stepping up its overseas expansion. The opening comes roughly 11 months after it opened its first Paris store in the Chatelet district of the French capital, which is in the vicinity of key tourist attractions, such as Notre Dame Cathedral and Louvre Museum. "We opened our second branch in France at an earlier-than-expected schedu
July 1, 2015
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Cheil Industries pitches for merger deal with higher dividends
Cheil Industries Inc., the de facto holding company of the country's top conglomerate Samsung Group, pledged Tuesday to deliver more dividends to shareholders, as it seeks to convince investors ahead of a crucial shareholders meeting for a proposed merger with the group's construction arm. The company at the top of the group's cobweb-like governance structure also promised to set up a committee tasked with boosting shareholders value and improving governance after its 8.9 trillion-won ($7.92 bi
June 30, 2015
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Orion submits bid for Homeplus
SEOUL (Yonhap) – South Korean confectionery maker Orion Corp. said Thursday it has submitted a bid for Homeplus, the local unit of British retailer TESCO."(We) have submitted a preliminary bid for the Homeplus acquisition to the potential seller," the company said in a regulatory filing posted after the stock market closing. Local media reported that private equity firms, such as Affinity Equity Partners, Carlyle Group and local buyout fund MBK Partners have also submitted bids to buy the countr
June 25, 2015
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KB Financial to wrap up LIG takeover next week
KB Financial Group Inc., South Korea's No. 2 banking group by assets, said Friday it plans to wrap up its acquisition of LIG Insurance Co. next week in a move that is anticipated to bolster its non-banking profit.KB Financial said in a statement that it plans to close the deal in a temporary shareholder meeting scheduled for June 24 and rename the insurer KB Insurance.The plan comes after the U.S. Federal Reserve Board approved the group the right to operate as a financial holding company in the
June 19, 2015
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Samsung, Elliot clash in court over merger plan
Lawyers for Samsung C&T Corp. and a U.S. hedge fund clashed in court Friday over a plan to merge the builder with another key affiliate of Samsung Group, with both sides sticking to their guns over the controversial move.The high-profile court battle came as Elliot Management applied for two court injunctions to block a May 26 offer by Cheil Industries Inc., Samsung's de facto holding firm, to take over Samsung C&T for 8.9 trillion won ($8.06 billion), claiming the deal is "unlawful and goes aga
June 19, 2015
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iPhone tops customer satisfaction list in S. Korea
Apple Inc.'s iPhone has topped a customer satisfaction list for smartphones in South Korea, trumping Galaxy smartphones made by archrival Samsung Electronics Co., a report showed Thursday. The U.S. smartphone maker garnered 759 marks in terms of product satisfaction by local consumers at the end of 2014, according to the biennial report by Seoul-based Consumer Insight. Samsung Electronics was even beaten by its smaller home rival LG Electronics Inc., placing third with a score of 580. LG gained
June 18, 2015
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Incheon airport to help run new Istanbul hub
The operator of Incheon International Airport, South Korea's main gateway, said Thursday it has signed a deal to provide operations consulting to the world's largest airport currently under construction in Turkey.Incheon International Airport Corp. said it has been chosen alongside Denmark's Copenhagen Airport for the 10.8 million euro ($12.3 million) project to provide consulting services to IGA, the operator of Istanbul New Airport, for the next five years. IIAC will take the lion share at a 5
June 18, 2015
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Samsung inks MOU with U.S. broadcasters for digital TV biz
South Korean tech giant Samsung Electronics Co. said Thursday it has struck a deal with U.S. broadcasting companies to work together for the adoption of the next-generation broadcasting standard for digital TVs. It signed a memorandum of understanding with Pearl LLC and Sinclair Broadcast Group in Washington on Wednesday (U.S. time) to promote the Advanced Television System Committee 3.0, the company said in a statement. The ATSC 3.0 refers to a set of standards developed by the committee for di
June 18, 2015