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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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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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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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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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Citibank Korea’s retail biz sell-off faces rocky road
Multiple financial companies have expressed interest in acquiring Citibank Korea’s retail business by submitting letters of intent, but they have taken a negative stance toward retaining all employees, the lender recently said. It has also put a complete pull-out of its retail business “in phases” as a viable option on the table as well, hinting that it would rather pursue an exit than carry out a subpar deal. In an email sent to reporters, Citibank Korea said its “e
June 4, 2021
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Samsung's share in SSD market to jump in Q3, backed by increasing chip prices
Samsung Electronics is expected to enjoy price increases of solid-state drives in the forthcoming months, due to robust demand from data center providers, market data showed Friday. According to the latest report from Taiwan-based market researcher TrendForce, contract prices of enterprise SSDs for the third quarter this year are expected to jump 10-15 percent on-quarter. The report attributed the price hike to the cloud service providers in the North American region that have recently been
June 4, 2021
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Seoul stocks snap 5-day winning streak on profit-taking
South Korean stocks snapped a five-day winning streak Friday, as investors took to the sidelines to lock in gains amid increased valuation pressure. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 7.35 points, or 0.23 percent, to close at 3,240.08 points. Trading volume was moderate at about 1.4 billion shares worth some 15.8 trillion won ($14.2 billion), with losers outnumbering gainers 483 to 371. Foreigners bought a net 162 billi
June 4, 2021
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Korea Investment’s ESG fixed income fund raises W1.5tr
Korea Investment Management, the fund operating unit of Korea Investment Holdings, said Friday that its fixed income fund dedicated to environmental, social and governance-related investments has surpassed 1.5 trillion won ($1.34 billion) by the size of assets it manages. The size of the product, dubbed KIM Credit Focus Feeder ESG Bond 1, has rapidly increased, backed by investors’ appetite for stable profits amid possible changes in interest rates, the company said. The amount of assets
June 4, 2021
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Woori Financial picks 17 startups to join its startup incubator
Woori Financial Group said Friday it selected 17 companies to join its startup incubation program, beefing up its effort to find new partners and accelerate digital transformation. Established in 2019, “Dinno Lab” -- an abbreviation for “digital innovation lab” -- is a training program provided by the banking group to nurture tech startups. From among 274 applications for this year’s program, startups from seven sectors, including ecommerce, blockchain, artificia
June 4, 2021
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Samsung Electro-Mechanics’ Busan plant certified for zero waste
Samsung Electro-Mechanics, an electronic part manufacturing affiliate of Samsung Electronics, said Friday the company’s Busan plant has received international certification for its efforts to minimize industrial waste. Underwriters Laboratory, a global safety certification institution, has validated the Samsung affiliate’s Busan plant that manufactures key components including multilayer ceramic capacitors with a gold grade for its efforts to reduce landfill waste. Underwriters
June 4, 2021
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Samsung to hold 1st online show to present network solutions
Samsung Electronics said Friday that it has sent out official invitations to global media and business partners across the world for the upcoming online event to present its network business to a global audience. Entitled “Unleashing the Full Power of 5G,” the show slated for June 22 is the first public event to showcase Samsung’s network solutions. President Jeon Kyung-hoon, Samsung’s network business head, is expected to appear on the stage to introduce a lineup o
June 4, 2021
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S. Korea considers another extra budget without debt sale: finance minister
South Korea's chief economic policymaker said Friday the government is reviewing another extra budget with larger tax revenue in a bid to help support vulnerable people hit hard by the pandemic. Minister Hong Nam-ki said the country will not sell more government bonds to finance the extra budget as it is expected to collect more tax revenue this year amid an economic recovery. "The government will focus its policy efforts on helping restore the job market and achieve an inclusive growth,&
June 4, 2021
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Enterprise SSD prices to rise over 10 pct in Q3, boding well for Samsung: report
Prices of enterprise solid state drives (SSDs) are likely to increase sharply in the third quarter of the year due to robust demand from server companies, a report showed Friday, boding well for top memory chip producer Samsung Electronics Co. Contract prices of enterprise SSDs for the July-September period are expected to go up 10-15 percent from the previous quarter, according to the latest report from market researcher TrendForce, which revised its previous forecast of a 5-10 percent increa
June 4, 2021
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Seoul stocks open lower amid high valuation pressure
South Korean stocks opened lower Friday on increased valuation pressure after gaining for the past five sessions. The benchmark Korea Composite Stock Price Index (KOSPI) fell 16.73 points, or 0.52 percent, to reach 3,230.7 points in the first 15 minutes of trading. The KOSPI got off to a weak start after finishing only an inch away from its all-time high the previous session. A tech slump led the KOSPI's retreat. Market bellwether Samsung Electronics declined 0.72 percent, and No. 2 c
June 4, 2021
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Seoul apartment prices near peak, finance minister says
Apartment prices in Seoul have risen to the levels where they were before the global financial crisis of 2008, which prompted a severe market correction, Finance Minister Hong Nam-ki said Thursday. “I have a serious concern about one-sided anticipation that the housing market will become unstable again in the second half of this year because of new regulations that will come into effect from June,” the minister said during a policy meeting. Along with the government’s hous
June 3, 2021
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Samsung Life invests W20tr in ESG projects
Samsung Life Insurance has set up a plan to invest 20 trillion won ($17.98 billion) in financial projects linked to environmental, social and governance initiatives by 2030, the company said Thursday. After holding ESG meetings among executives recently, the insurer announced its long-term plan to make investments in renewable energy businesses and ESG bonds while cutting carbon emissions in half and reducing paper use by 60 percent by the end of 2030. The company said it will also try to pu
June 3, 2021
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KakaoBank launches task force to beef up lending
Online-only KakaoBank has launched a task force to expand its lending services for customers with low and midrange credit scores, the company said Thursday. The bank is planning to roll out various loan services this year, lower interest rates for credit loans and increase credit lines, offering up to 70 million won ($62,927) for customers with low and midrange credit scores. In addition, its new credit rating model will factor in both financial and nonfinancial information, such as data on
June 3, 2021
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[Herald Interview] German direct selling for readies Asia foray --- from Korea
Germany’s leading multi-level marketing and direct sales firm LR Health & Beauty is building its business presence here, in hopes of expanding beyond Korea into the Asia region, its chief executive said. “It is great to see how LR has developed over the last few years. We have reached decisive milestones,” Andreas Friesch, who has led the company since 2018, said in an interview with The Korea Herald. “The expansion to South Korea is one of them,” he added.
June 3, 2021
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AI bankers foreshow the future of retail banking
An image of a neatly dressed man welcomes visitors and answers questions on finance services on a monitor at KB Kookmin Bank in Yeouido, western Seoul. The male character, powered by artificial intelligence and modelled on TV personality Kim Hyun-wook, explains the difference between a debit and a credit card in a tone and manner identical to a real human staffer. He is a prototype of the AI bankers set to work alongside human bank staff in the near future. KB plans to test the AI ba
June 3, 2021
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Tesla Y top-selling foreign car in May
Tesla’s Model Y dethroned longtime favorite the Mercedes-Benz E-Class to become the top-selling imported car in South Korea in May, industry data showed Thursday. According to market tracker CarIsYou, 3,461 Y vehicles were newly registered with local authorities that month, compared with 2,387 E-Class vehicles. Sales of the Y, the all-electric compact sport utility vehicle and the latest release from the American electric car brand, began in earnest here last month. From January thro
June 3, 2021
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S. Korea’s labor laws too strict: think tank
South Korea’s penalties for violating labor regulations are exceptionally strict compared with those in other major economies, think tank data showed Thursday. According to the Korea Economic Research Institute, affiliated with the Federation of Korean Industries, employers in Asia’s fourth-largest economy face jail terms of up to two years or fines of up to 20 million won ($17,976) if they violate the law that sets a maximum number of working hours. The United States has no san
June 3, 2021
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Lime Korea offers 40% discount for monthly membership Lime Prime
Lime Korea said Thursday it has cut the price of the company’s monthly subscription plan Lime Prime to 7,500 won ($6.70) from 12,500 won to make its service more accessible to daily commuters. Lime Korea currently charges a fixed rate of 1,200 won to unlock an e-scooter and then a per-minute fee from 160 won to 230 won to ride. For 7,500 won a month, the company waives the initial fee for Lime Prime subscribers. Also, Lime Prime members can reserve a vehicle up to 30 minutes at no cost
June 3, 2021
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SK invests in world’s 1st ‘turquoise hydrogen’ producer Monolith
SK Inc., the holdings firm of SK Group, said Thursday that it has acquired a stake in Monolith, the world’s first company to have successfully mass-produced “turquoise hydrogen.” The strategic investment was made by a consortium led by SK Inc., of which NextEra, a leading clean energy company in the US, was also a participant. SK did not disclose the investment amount, but industry sources said it would likely be in the range of tens of millions of dollars. Although hydro
June 3, 2021
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Seoul stocks up for 5th day on easing inflation jitters
South Korean stocks advanced for a fifth straight session Thursday, backed by the US Federal Reserve's economic diagnosis that partially eased market jitters over early post-pandemic inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.2 points, or 0.72 percent, to close at 3,247.43 points, just shy of its all-time high close of 3,249.3 points on May 10. Trading volume was moderate at about 1.6 billion shares worth some 16.7 tri
June 3, 2021