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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[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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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Med schools expect 1,500+ new admission slots next year
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Vaccine rollouts for major factories begin
Factory workers at Samsung Electronics, Hyundai Motor, SK hynix and other major manufacturers in South Korea began getting their vaccine shots on Tuesday, the health authorities said. They are part of the 303,159 workers from 43 large companies that operate large production facilities here and have in-house clinics, covered by the country’s first factory vaccine rollout program, according to the Korea Disease Control and Prevention Agency. The shots to be injected have changed from Mod
July 27, 2021
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Battery swapping: Stupid idea or next trend?
Plucking batteries from electric vehicles and popping in fresh ones. This idea has existed since at least the late 2000s, but has apparently not been taken seriously by leading players in the sector. In the lens of pessimists, the whiz-bang tech is nothing more than a relic of the early era of electric cars, when it used to take hours to recharge. Now, rapid chargers can juice batteries in less than 30 minutes and evolving technologies will make those times only shorter. Critics dismiss ba
July 27, 2021
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Hyundai Motor’s hydrogen trucks to start rolling in California from 2023
Hydrogen fuel-cell trucks from Hyundai Motor will hit the roads in California by 2023, said the South Korean automaker Tuesday, after it won a bid to provide clean-fuel vehicles for two clean-air projects in California. This will be Hyundai’s largest deployment of hydrogen vehicles in the United States. A consortium led by Hyundai and California’s Center for Transport and Environment, a government organization that promotes eco-friendly transportation projects, will roll out 30
July 27, 2021
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Seoul stocks rebound on strong corporate earnings
South Korean stocks rebounded Tuesday as investor sentiment improved on optimism for strong corporate earnings despite the spreading new coronavirus pandemic. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.58 points, or 0.24 percent, to close at 3,232.53 points. Trading volume was moderate at about 978 million shares worth some 12.1 trillion won ($10.5 billion), with gainers outnumbering losers 534 to 287. Foreigners bought a net 44 b
July 27, 2021
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S. Korea’s tax chief in Russia, Uzbekistan for talks
South Korea’s tax agency chief visited Russia and Uzbekistan to discuss ways to strengthen ties with their respective agencies for offshore tax evasion and pave the way to resolve tax-related difficulties for local companies doing business operations there, the tax authority said Tuesday. NTS Commissioner Kim Dae-ji met his Uzbek counterpart Sherzod Kudbiev for a bilateral meeting in the country’s capital Tashkent after meeting with the Federal Tax Service of Russia Commissioner Dan
July 27, 2021
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Korean equity market safe from emerging market trap: AllianceBernstein
Despite a gloomy outlook on emerging countries’ equity market due to the pandemic impact and corporate regulations hindering growth, prospects for South Korea remain positive, driven by quality companies’ exceeding performance on long-term growing industries, an analyst at global asset management firm AllianceBernstein said Tuesday. “Korea is quite sensitive to global growth. Since global growth especially in developed markets remain quite strong, we also have a fairly constr
July 27, 2021
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Kumho Tire renews sponsorship with Tottenham Hotspur
South Korean tire maker Kumho Tire said on Tuesday it has renewed its sponsorship contract with English football club Tottenham Hotspur. The long-term extension to a deal that was first signed in 2016 marks the third time the company has continued its support for the team as their official tire partner. The move comes after South Korean player Son Heung-min recently signed a new four-year contract with the team until 2025. Son’s presence means his team also has many fans in his home cou
July 27, 2021
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SK joins consortium for AirAsia’s digital banking business in Malaysia
South Korean conglomerate SK Group’s Southeast Asian investment arm has joined a consortium for AirAsia’s digital bank business in Malaysia, reports said Tuesday. SK South East Asia Investment has participated as a financial investor in a consortium led by the Malaysian budget airline’s financial technology unit BigPay vying for a digital banking license in the Southeast Asian country, according to Malaysian news reports. Due to SK’s nondisclosure agreement with BigPa
July 27, 2021
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Kakao Bank's IPO subscription draws relatively lukewarm response from retail investors
South Korean internet-only bank Kakao Bank Corp. is set to draw relatively low subscription from retail investors for its initial public offering (IPO), with deposits for the stock offering at a smaller-than-expected 22 trillion won ($19.1 billion) as of 11 a.m., its IPO managers said Tuesday. On the last day of the two-day subscription, retail investors may pour additional deposits to subscribe for one of the largest IPO deals. Kakao Bank's IPO subscription for individual investors closes at
July 27, 2021
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SK hynix's Q2 sales surpass W10tr
SK hynix, the world’s second-largest memory provider, surpassed the 10 trillion-won ($8.69 billion) mark in quarterly sales for the first time in three years amid a continuing chip boom. According to the chipmaker’s earnings announcement Tuesday, the company recorded 10.3 trillion won in sales in the April-June period, up 20 percent from the same period last year, owing to the improved conditions in the memory market since early this year. The chipmaker last breached the 10 trill
July 27, 2021
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Samsung's mobile chief vows to widen foldable phone market
Samsung Electronics will take the lead in widening the foldable smartphone market by offering more refined and durable products this year, the company‘s executive in charge of the mobile phone business said Tuesday. Roh Tae-moon, president of Samsung Mobile, pledged to provide improved foldable devices at the upcoming Samsung Galaxy Unpacked event slated for Aug. 11 through a message posted on the company’s newsroom homepage. “The upcoming Galaxy Z Fold combines the very be
July 27, 2021
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Samsung to launch industry's first Mini LED curved gaming monitor
Samsung Electronics Co. said Tuesday its new curved gaming monitor with Mini LED display will be launched this week. The Odyssey Neo G9 will hit the shelves in South Korea on Thursday with a price of 2.4 million won ($2,085). It will be globally available by Aug. 9, according to the tech giant. The latest product is the industry's first curved gaming monitor with Mini LED display, Samsung said. It uses the Quantum Mini LED light source that is 1/40 the height of a conventional LED, which is al
July 27, 2021
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Nearly 7 in 10 senior citizens want to work until 73: survey
Nearly 7 in 10 South Korean senior citizens want to keep working until the age of 73 amid a rise in life expectancy, a survey showed Tuesday. The survey by Statistics Korea showed 10 million, or 68.1 percent, of the 14.76 million South Koreans aged between 55 and 79, said in May they want to continue to work in the future, up 0.7 percentage point from a year earlier. The elderly said they want to keep working until an average of 73, unchanged from the previous year. As for the main reasons fo
July 27, 2021
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Finance chief to issue public message over housing market
Finance Minister Hong Nam-ki plans to issue a public message about the housing market Wednesday, the finance ministry said Tuesday, as the government seeks to stabilize high-flying home prices. Hong plans to hold a press briefing Wednesday to explain the government's assessment of the current housing market and state its housing policy goal, according to the Ministry of Economy and Finance. Hong has repeatedly warned that housing prices could fall at any time as prices of apartments in the gre
July 27, 2021
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Retail sales up 12% in H1 as consumers return to stores
Retails sales in South Korea rose 12 percent in the first half of 2021 from a year earlier, data showed Tuesday, as consumers were fatigued by the prolonged COVID-19 pandemic and became less reluctant to visit supermarkets and department stores. The combined sales of 25 major offline and online retailers reached 75 trillion won (US$64.9 billion) over the January-June period, up from 67 trillion won posted in 2020, according to the Ministry of Trade, Industry and Energy. The rebound mainly came
July 27, 2021
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Samsung expands royalty-free program for small firms
South Korea's top tech giant Samsung Electronics Co. will open another batch of royalty-free technologies in line with the government's efforts to promote shared growth among conglomerates and small and medium-sized firms, the industry ministry said Tuesday. Under the move, the world's top memory chip maker will allow 99 businesses to use its 172 cases of patents without paying royalties. The latest step will raise the number of patents shared by Samsung since 2015 to a whopping 784. Since 201
July 27, 2021
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S. Korea, ASEAN to upgrade their FTA
South Korea's trade ministry said Tuesday it has launched talks with ASEAN to update their free trade agreement (FTA) and further lower trade barriers, as the country seeks to diversify its trade portfolio and expand its presence in Southeast Asia. Officials from the two held a virtual meeting to discuss ways to expand their bilateral economic ties, according to the Ministry of Trade, Industry and Energy. Asia's No. 4 economy and ASEAN implemented their FTA in 2007. ASEAN currently stands as
July 27, 2021
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Regulator OKs takeover of Doosan Infracore by Hyundai Heavy
South Korea's antitrust regulator said Tuesday it has approved a deal by an affiliate of Hyundai Heavy Industries Holdings Co. (HHIH) to buy Doosan Infracore Co., the country's largest construction equipment maker. In February, HHIH inked a deal to acquire a 35 percent stake in Doosan Infracore for 850 billion won ($735 million) from its cash-strapped parent, Doosan Heavy Industries & Construction Co. In April, Hyundai Genuine Co., a wholly owned unit of HHIH, took over the parent's stake
July 27, 2021
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Seoul stocks post strong opening on earnings hope
South Korean stocks opened higher Tuesday as investor sentiment improved over optimism for strong corporate earnings. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.62 points, or 0.73 percent, to 3,248.57 points in the first 15 minutes of trading. Stocks rebounded after the KOSPI closed down nearly 1 percent the previous session on market jitters about China's clampdown on education tech firms and its property market. Local large caps of various sectors continued to report
July 27, 2021
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Hyundai's Xcient fuel cell trucks to hit the road in California
South Korean automaker Hyundai Motor Co. said Tuesday its fleet of 30 Xcient fuel cell trucks will hit roads in California by early 2023, which will be the largest deployment of zero-emission commercial vehicles in the United States. Hyundai Motor said it will team up with public and private partners to deploy 30 Xcient heavy-duty trucks for regional freight distribution in Northern California by the second quarter of 2023. A consortium jointly led by the Center for Transportation and the En
July 27, 2021