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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Rapper jailed after public street fight with another rapper
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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[Weekender] How DDP emerged as an icon of Seoul
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[KH Explains] No more 'Michael' at Kakao Games
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Woman gets suspended term for injuring boyfriend with knife
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Med schools expect 1,500+ new admission slots next year
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S. Korean snack firms log brisk overseas sales in 2020
South Korean confectionary companies enjoyed brisk overseas sales in 2020 thanks to the high popularity of Korean pop culture and food abroad, industry sources said Tuesday. Overseas sales of industry giant Orion Corp. stood at approximately 1.5 trillion won ($1.34 billion) last year, accounting for 65.6 percent of its overall top line. Last year's figure was up from 1.3 trillion won in 2019, 1.2 trillion won in 2018 and 1.06 trillion won in 2017. China was Orion's largest overseas market, wi
May 11, 2021
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Exports soar 81% in first 10 days of May
South Korea's exports soared 81.2 percent on-year in the first 10 days of May as shipments of chips, autos and petroleum goods remained robust amid a global economic recovery, customs data showed Tuesday. The country's outbound shipments stood at $12.5 billion in the May 1-10 period, compared with $6.9 billion a year earlier, according to the data from the Korea Customs Service. Imports rose 51.5 percent on-year to $14.6 billion, resulting in a trade deficit of $2.1 billion during the cited pe
May 11, 2021
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[Market Close-up] Korean brokerages in race to lure sleepless US stock traders
South Korea’s securities brokerage houses are in a heated race to attract retail stock investors with an interest in the US stock market, providing more cost-competitive services and enhancing those services with technology. Their services sweeten the deal for day traders here, who are increasingly fond of US stocks such as Tesla, Apple, Amazon.com, Alphabet, Nvidia and Microsoft, as the brokerages even buy and sell stocks overnight. With the start of daylight saving time in the US, regu
May 10, 2021
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Moon admits failure of real estate policy
South Korean President Moon Jae-in on Monday said that the government’s efforts for the past four years have fallen short of cooling down the heated real estate market. His remarks come after the government rolled out more than 20 sets of real estate regulations to rein in the overheated property market for the past years. “Real estate is one of the issues that I wish I had solved in the past four years,” said President Moon, in a media interview to mark his fourth year in
May 10, 2021
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[Herald Interview] Cosmetic surgery review app aims to capitalize on K-beauty boom
When walking into a restaurant, people usually have a sense about how expensive the food would be. But when it comes to cosmetic surgery clinics here, it is a different story. Not many -- perhaps none -- openly display the price of their services or procedures, not to mention the specs of medical equipment they use. “Say that I want to receive a skin toning laser treatment and there are two hospitals. One uses equipment that costs 200 million won (about $180,000), and the other uses o
May 10, 2021
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Celltrion to export COVID-19 treatment to Pakistan
South Korean pharmaceutical giant Celltrion clinched the first overseas supply deal for its COVID-19 antibody treatment Regkirona, according to Celltrion Healthcare’s announcement on Monday. Celltrion Healthcare, which is in charge of Celltrion‘s overseas business, signed a contract with a state-run company in Pakistan to export 100,000 vials of Regkirona, enough for around 30,000 people. The firm will dispatch its experts to Pakistan to train medical workers who will administer t
May 10, 2021
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GM Korea denounces exit ban on CEO Kazem
US carmaker General Motors and its domestic affiliate GM Korea on Monday blamed the South Korean government for handing down another exit ban on the GM Korea chief. Calling the ban an abuse of power and discrimination against foreign businesses here, the carmaker vowed to take legal countermeasures. “(The government’s exit ban order) is an arbitrary administrative measure which may lead to an abuse of legal procedures,” said GM Korea in a statement. “In order to respe
May 10, 2021
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Advisory panel gives nod to Moderna vaccine
A panel of medical experts here gave a nod to US pharmaceutical company Moderna’s COVID-19 vaccine, according to the Ministry of Food and Drug Safety, Monday. The advisory panel’s review is the first of the three-stage evaluation process before South Korea gives final approval. The next stage of the evaluation is scheduled on Thursday. If finally approved, Moderna’s COVID-19 vaccine would become the fourth COVID-19 vaccine to receive an approval from the South Korean govern
May 10, 2021
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Kospi closes at fresh high of 3,249.30
South Korea’s benchmark Kospi set a fresh record at Monday’s closing, backed by foreign and institutional investors’ massive buying on eased inflation worries around the globe. The key stock index closed 1.63 percent higher at 3,249.30 points, breaking its previous record of 3,220.70 points from April 20. The Kospi got off to a solid start at 3,201.46 and soared to 3,255.90 at one point during Monday’s trading. It was the second time the index surpassed the 3,250-poin
May 10, 2021
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Postech introduces LiDAR sensor smaller than thumb
Pohang University of Science and Technology has developed a nanotechnology that can reduce the size of a LiDAR sensor to smaller than that of a thumb. LiDAR, short for light detection and ranging, is considered a key device to enable self-driving technologies. Typically mounted on the roofs of autonomous vehicles, conventional LiDAR sensors rotate and emit lasers to surrounding objects. By measuring the return time of light pulses, the sensors construct a 3D image of the surrounding environm
May 10, 2021
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Ashley Madison reveals dating trends among married people amid pandemic
Global dating site Ashley Madison announced that despite the ongoing COVID-19 pandemic, interest and desire for married people to find new relationships grew over the last year. In addition, the dating site plans to strengthen customer service in Korea with a goal of achieving 1.2 million domestic users by the end of 2022. According to the company‘s 2020 Membership Report, 5.5 million new members joined the service last year. In Korea, an average of 512 new members joined each month. In
May 10, 2021
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Seoul stocks at all-time high on eased tapering jitters
South Korea's stock market closed at an all-time high Monday as weaker-than-expected US jobs data quelled concerns over the rollback of easing monetary policy and other stimulus measures. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) went up 52.1 points, or 1.63 percent, to close at 3,249.3 points. The previous record closing was 3,208.99 points on April 20. Trading volume was moderate at about 996 million shares worth some 16.9 trillion won
May 10, 2021
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SK hynix promises more efforts to cut carbon emissions
SK hynix, the world’s second-biggest memory provider, vowed Monday to make more efforts to cut greenhouse gas emissions. The pledge was made alongside the chipmaker’s announcement of its social value figures for 2020. Since 2019, major affiliates of SK Group have been quantifying the values they created in three areas of “indirect contribution to the economy,” “social performance,” and “social contribution.” SK hynix put its indirect con
May 10, 2021
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Naver, SNU to form 100-strong AI research arm
Naver, South Korea’s largest portal site, said Monday that the company will create a joint research arm with Seoul National University to delve into the field of artificial intelligence. The two sides held an online signing ceremony, agreeing on the need for research on Korean-based AI and the establishment of the SNU-Naver Hyperscale AI center. Around 100 AI researchers from Naver and the university will take part in the project for the next three years. The cooperation aims to de
May 10, 2021
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Moon’s subtle tone shift revives hopes for Samsung chief’s early release
In a subtle but noteworthy change of tone, President Moon Jae-in on Monday spoke of the mounting challenges facing South Korean chipmakers when asked about the fate of the jailed Samsung Electronics chief Lee Jae-yong. “It is a clear fact that we need to further enhance the competitiveness of our semiconductor industry, with global competition on chips intensifying,” Moon told reporters in a nationally televised press conference. He then added that he also has to consider the
May 10, 2021
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Banks’ association raises red flag over growing altcoin influence
South Korea’s bank association has recently advised its members to count the number of altcoins in order to gauge the trading capacity of an exchange, in an apparent move to reduce exposure to risks the minor cryptocurrencies are witnessing, industry sources said Monday. “One of the criteria that we recommend is the safety of digital assets and that can be measured by the number of digital coins on an exchange. If an exchange deals with too many digital assets, it takes on more risk
May 10, 2021
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Designer behind controversial GS25 poster, accused of ‘misandry,’ breaks silence
The designer behind a controversial image used by South Korean convenience store chain GS25 -- accused of being “misandrist” -- has apologized to customers, store owners and colleagues for the inconvenience her work caused but rejected claims that she was part of a group known for mocking men online. In a post uploaded on Blind, an anonymous forum designed for employees of a corporation to discuss internal affairs, the designer, who remains anonymous, said she was breaking her silen
May 10, 2021
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Income inequality widens over women losing jobs during COVID
South Korea’s income inequality has worsened after the outbreak of the COVID-19 pandemic last year, with rising female unemployment and pay cuts widening the gap, a report from the central bank showed Monday. The average income earned by the bottom 20 percent here in the April-December period last year declined by 17.1 percent on-year, data compiled by the Bank of Korea showed. The income loss is larger than those of other income groups, such as the top 20 percent, which shed an average
May 10, 2021
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SC Bank Korea launches digital wealth management platform
Standard Chartered Bank Korea said Monday it had launched a new digital platform within its mobile banking application to provide wealth management information, targeting the under-40s. Branded as Wealth Care Lounge, the app-based information channel introduces recent investment trends, money management tips, advice from experts on financial planning and information regarding upcoming finance webinars. The bank also set up its own KakaoTalk Channel as well as webpage on Naver Pos
May 10, 2021
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Resumed short selling’s impact ‘limited’
The partial reactivation of short selling in South Korea, which kicked off last week, weakened investor sentiment among day traders, but the overall impact on the market was limited, according to industry sources on Monday. The key stock index maintained its upward trend. Short selling is a trading tactic where investors immediately sell borrowed stocks on a bet that share prices will fall, allowing them to profit by later repurchasing the stocks and returning them to the lender.
May 10, 2021