Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Hyundai, Kia's eco-friendly vehicle sales in US more than double in Aug.
Hyundai Motor Co. and its affiliate Kia Corp.'s environment friendly vehicle sales in the United States more than doubled in August compared with a year ago, led by solid demand for their hybrid sport utility vehicles, industry data showed Wednesday. Hyundai and Kia sold a combined 8,312 eco-friendly cars in the US in August, a 124.4 percent jump from a year earlier, according to their data. Hyundai's eco-friendly car sales soared 245.4 percent on-year to 5,817 units in August, far surpassing
Sept. 22, 2021
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Airlines cut aircraft fleets amid pandemic-driven slump
South Korea's airlines have drastically reduced their aircraft fleets over the past two years as demand for air travel dried up due to the prolonged COVID-19 pandemic, industry data showed Wednesday. The total number of aircraft operated by the nation's 10 carriers currently stands at 372, down from 414 in 2019, according to the data compiled by the transport ministry. Korean Air Lines Co., the country's leading full-service carrier, operates 159 planes, down from 170 in 2019, and its smalle
Sept. 22, 2021
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[Feature] How fans are turning favorite K-pop songs into investments
K-pop fans have found a new way to support their favorite idols that could also fatten their wallets at the same time. A growing number of fans are experimenting with new investment methods by investing in shares of copyrights to songs by idols. This new combination of Korean culture and investing comes as K-pop fans seek alternative and meaningful ways to show support for their stars. For instance, Music Cow, a platform for investing in K-pop songs, allows fans to buy shares to own par
Sept. 21, 2021
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[Photo News] Apple unveils new lineup for 2021
On Sept. 14, Apple held a virtual “California Streaming” event unveiling the new iPhone 13 and Apple Watch Series 7. The Apple Watch will come in new sizes at 41 mm and 45 mm, departing from its standard 40 mm and 44 mm sizing. No new health features are expected. The most significant difference is its all-new flat-edged design, in line with the iPhone 12’s sleek design. Like previous models, the iPhone 13 will be offered in four different models – iPhone 13
Sept. 20, 2021
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Spring flowers bloom earlier, ice freezes later than before: report
Spring flowers in Korea are blooming earlier while ice is forming increasingly later in the last three decades, a recent report from the Korea Meteorological Administration showed. The KMA on Tuesday released the latest climatological averages from 1991 to 2020, comparing the data with the previous figures recorded from 1981 to 2010. Used for analyzing changes in the ecosystem over a long period of time, seasonal observation is a study of animals, plants and weather phenomena at the same spot e
Sept. 19, 2021
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NPS exposure to Japanese ‘war crimes companies’ reaches W1.57tr: lawmaker
The National Pension Service, Korea‘s largest public pension scheme, has 1.57 trillion won ($1.33 billion) exposure to stocks of what was labeled as “war crimes companies” during the World War 2, data showed Sunday. NPS was directly investing some 880 billion won in companies suspected to have contributed to Japanese ruling of the Korean Peninsula during Korea’s colonial era as of February, according to data compiled by the ruling Democratic Party of Korea‘s lawma
Sept. 19, 2021
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Disney+ likely to be introduced via LG U+ first and possibly KT later
Disney+, the US entertainment giant’s streaming service, is expected to land in Korea via LG U+ first, the smallest of the country’s three IPTV providers. Then, it may team up with KT, the largest of the three, to further expand its reach. Earlier, Disney officially announced the Nov. 12 launch of Disney+, with a monthly subscription fee of 9,900 won ($8.40). It, however, did not disclose who its local partner is, fanning market speculation that the two Korean telecommunications
Sept. 19, 2021
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[Feature] Will cosmetic refills take off in Korea?
Beauty products often come in extravagant packaging -- only to later end up in a landfill after a single use. Statistics show only 10 percent of cosmetics packaging is recyclable, due to the complex designs, colors and multilayer structures. Faced with growing criticism for its contribution to the global waste problem and in a bid to appeal to environmentally conscious consumers, cosmetics companies are turning to refilling stations where consumers can bring empty bottles and buy what they
Sept. 17, 2021
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Posco reaches 1 million ton in production capacity for high strength steel
Posco said Friday it has established a 1 million-ton production facility for giga steel, an ultrahigh-strength steel product used for cars. Amid the expanding global market for eco-friendly cars and rising demand for lightweight vehicles, Posco said it has invested about 500 billion won ($425 million) since 2017 to build and expand the production facility for the high-strength steel inside the Gwangyang steel mill in Gwangyang, South Jeolla Province. “Since its first production of steel
Sept. 17, 2021
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Eastar Jet submits restructuring plans to court
Eastar Jet Co., a debt-ridden South Korean budget carrier, said Friday it has submitted restructuring plans to a bankruptcy court to finalize an acquisition deal with a local property developer, aiming to resume flights next year. Eastar Jet submitted its debt repayment and other rehabilitation plans to the Seoul Bankruptcy Court, three months after Sung Jung Co. signed a deal to buy an 80 percent stake in the low-cost carrier for 108.7 billion won ($97 million). Eastar is required to first
Sept. 17, 2021
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FSS to appeal against court decision favoring Woori chairman
The Financial Supervisory Service said Friday it plans to appeal a Seoul court decision last month that nullified the watchdog’s penalty on the current Woori Financial Group chairman, which held him accountable for the misselling of high-risk funds. The Seoul Administrative Court ruled in favor of Sohn Tae-seung, revoking the heavy “reprimand” imposed upon him by the FSS in January 2020. If the warning had been finalized by the policymaking Financial Services Commission, Sohn
Sept. 17, 2021
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[Newsmaker] More than 30 crypto exchanges expected to announce shutdown on Friday
Time ran out Friday for cryptocurrency exchanges to announce the closure of their services if they would not be operable after Sept. 24, marking a critical time that will decide the fate of many cryptocurrency exchanges in the country. More than 30 cryptocurrency exchanges were expected to give notice for a service shutdown by the end of Friday, as 24 exchanges have not applied for the Information Security Management System and 10 failed to acquire a certificate, according to industry source
Sept. 17, 2021
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Shinhan acquires stake in ICT solutions provider for online corporate banking platform
Shinhan Bank said Friday that it has acquired a minority stake in a local information and communication technology solutions and services provider to bolster its partnership for development of a new corporate banking platform. Shinhan Bank acquired a 1.97 percent stake worth 72.3 billion won ($61.4 million) in Douzone Bizon for a strategic partnership, which would allow the lender to utilize the ICT solutions firm’s corporate accounting and e-commerce data. Shinhan and Douzone Bizon ha
Sept. 17, 2021
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Seoul stocks rebound ahead of Chuseok holiday
South Korean stocks closed higher Friday ahead of a three-day holiday as investors weighed the pace of the economic recovery from the pandemic. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 10.42 points, or 0.33 percent, to close at 3,140.51 points. Trading volume was moderate at about 575 million shares worth some 14.6 trillion won ($12.4 billion), with losers outnumbering gainers 491 to 380. Foreigners bought a net 46 billion won, while
Sept. 17, 2021
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Hyundai, Boston Dynamics unveil factory safety robot
Hyundai Motor Group has begun test operating a robot to inspect safety at its automotive plant, in collaboration with robotics startup Boston Dynamics, the group said Friday. Hyundai Motor Group, which operates two leading automotive companies Hyundai Motor and Kia, said it has deployed Spot, Boston Dynamics’ quadruped robot, to inspect safety at Kia AutoLand Gwangmyeong, Kia’s automotive plant facility in Gyeonggi Province. It is the first joint project between Hyundai and Bosto
Sept. 17, 2021
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SKC forges ties with Kuwait to expand eco-friendly plastic business
SKC, the chemical affiliate of SK Group, will cooperate with Kuwait’s state-operated petrochemical giant Petrochemical Industries Company to expand its environment-friendly plastic business in Kuwait, the company said on Friday. PIC is the world’s fifth petrochemical firm by production volume. SKC and PIC established the joint venture SK picglobal in March 2020. SKC said the company inked a memorandum of understanding with PIC and SK picglobal in Los Angeles on Thursday there to
Sept. 17, 2021
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KT creates investment arm for digital transformation
KT, one of South Korea’s leading telecom companies, said Friday it has created an organization dedicated to new investments and external partnerships in a bid to speed up the firm’s transformation into a digital platform business. The new organization is called “Group Transformation” and has been established under the CEO’s office. KT has appointed Yoon Kyung-lim, who had led KT’s media, future convergence and global businesses, as president of the new
Sept. 17, 2021
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S. Korea has larger classes, lower employment rates among college graduates than OECD averages: education ministry
South Korea has larger class sizes and lower employment rates among the highly educated than Organization for Economic Cooperation and Development (OECD) averages, the education ministry said Friday. According to the latest edition of the OECD's "Education at a Glance," released by the Ministry of Education, elementary and middle school classes had an average of 23 and 26.1 students, respectively, in 2019. The figures were lower than 23.1 and 26.7 from 2018 but still higher than the OE
Sept. 17, 2021
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BOK provides less money ahead of Chuseok
The Bank of Korea (BOK) said Friday it has injected a smaller amount of bank notes into circulation this year than a year earlier ahead of the Chuseok fall harvest holiday as private consumption has slumped amid the COVID-19 pandemic. The BOK provided a net 4.8 trillion won ($4.08 billion) worth of bills to financial institutions during the 10 working days before the holiday, down 4.8 percent compared with the same period last year. This year's Chuseok holiday, the Korean equivalent of Thanksgiv
Sept. 17, 2021
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Stock trading soars 70.5% in 2020 amid investment craze
Stock transactions in South Korea spiked more than 70 percent in 2020 amid an investment craze among retail investors, data showed Friday. The value of stock trading in Asia's fourth-largest economy stood at 35,397.3 trillion won ($30.2 trillion) last year, up 70.5 percent from a year earlier, according to the data from the Financial Supervisory Service. The on-year growth rate is much higher than the 6 percent increase recorded the previous year. In the first six months of the year alone, stock
Sept. 17, 2021