Most Popular
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Sought by prosecutors: Key man in Yoon presidential couple’s political drama
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First lady to keep low profile as Yoon’s ratings hit new low
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Murder charge sought over death of mentally disabled student who was pushed into sea
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N. Korea jams GPS signals, affecting ships, civilian aircraft: JCS
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2 dead, 12 missing after fishing boat sinks near Jeju Island
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NewJeans to appear on biggest year-end festival in Japan
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Starbucks to open store on North Korea's doorstep
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[Editorial] Brace for changes
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Supreme Court to weigh SK Group chief's W1.3tr divorce suit
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Police nab 20 suspects connected to ‘international sender’ phishing texts
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S. Korea's economy grows faster than expected in Q1, heralding rebound this year
South Korea's economy expanded at a faster-than-expected pace in the first quarter, buoyed by a modest recovery of exports and fiscal policy support, amid signs that the economy is inching closer to pre-pandemic levels, the Bank of Korea (BOK) said Tuesday. Gross domestic product expanded 1.8 percent in the three months ended March 31 from a year ago, the BOK said. On a quarterly basis, Asia's fourth-largest economy expanded 1.6 percent, accelerating from a 1.2 percent expansion in the final qu
April 27, 2021
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SKIET’s blockbuster IPO busts Korean book building records
Amid expectations of surging global demand in the battery separators market, SK ie technology has gained keen attention from investors both at home and abroad ahead of its market debut next month, setting a record Monday in South Korean initial public offering market history. The battery materials subsidiary under SK Innovation wrapped up its two-day book building process Friday. While institutional investors placed bids for new shares for the IPO, a total of 1,734 domestic and foreign institu
April 26, 2021
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[Advertorial] Mercedes-Benz Korea stands as major donator among imported car brands
Mercedes-Benz Korea is steadily growing its social outreach programs to support local communities here, cementing its position as a corporate social responsibility leader among imported car brands. In the past six years following the launch of the programs in 2014, the Korean unit of the German automaker has donated a total of 30.1 billion won ($27 million), it said. That is among the top donations made by an imported car brand here, the company added. In 2020, Mercedes-Benz Korea donated ab
April 26, 2021
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Mind the gap: Navigating regional varieties in APAC private debt investing
While the demand for private debt investments in the Asia-Pacific region is expected to continue to soar, private credit investors -- which offer nonbank financing to companies or development projects there -- should take advantage of opportunities and be mindful of gaps in between countries, experts said. During the two-day PDI APAC Summit Virtual Experience 2021 that ended Thursday, international investors, asset managers and other investment professionals flocked to discuss opportunities tha
April 26, 2021
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[Behind the Wheel] Ioniq 5, a safe and pleasant interior space on the road
For Hyundai Motor, the Ioniq 5 is not only the first all-electric vehicle adopting its exclusive electric vehicle platform, but also a key indicator of the company’s business outlook in the fast-growing battery-operated vehicles space. Vying against global competitors such as Tesla, the automaker chose to optimize user experience through high-end interior materials, user-friendly interface and, most of all, an unrivaled, ultrafast charging system. The Korea Herald has recently take
April 26, 2021
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FSC head’s Bitcoin warning backfires, prompts calls to resign
A warning from the head of the nation’s financial regulator about the risks of investing in crypto assets has sparked criticism from traders of virtual coins, who reject his opinion that digital tokens are speculative tools. Financial Services Commission Chairman Eun Sung-soo on Thursday voiced concern about the recent crypto frenzy, saying “cryptocurrencies, which have no intrinsic value, are not a real currency,” during a meeting of the National Assembly’s National P
April 26, 2021
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Celltrion reports progress in phase 3 trial of COVID-19 drug candidate
Celltrion has completed administration of an experimental COVID-19 antibody treatment to a total of 1,300 people participating in its phase 3 clinical trial, the company announced Monday. The final stage of human tests of the drug candidate, known as Regkirona or CT-P59, is being conducted in 13 countries, including Korea, the US, Spain and Romania, the firm added. The treatment has cleared an emergency use authorization in Korea in February. The Seoul-based drug developer, specializing in
April 26, 2021
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Local company develops smart livestock management solution for pigs
South Korean livestock health management firm uLikeKorea announced the launch of an information and communication technology-based solution to detect symptoms of swine diseases, including African swine fever. Kim Hee-jin, CEO of uLikeKorea, claimed it is the world’s first and only such solution developed for pig farming. According to the firm’s press release, it uses a device that is inserted in a pig’s uterus to keep track of its activities, hormone levels and body temper
April 26, 2021
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SK E&C to ramp up efforts to secure emission rights
South Korean construction company SK E&C is speeding up the process to secure certified emission reduction credits in Korea and Vietnam, paving the way for potential renewable business opportunities in the future, the firm said Monday. The Seoul-based builder has so far committed to two Programs of Activities, one that is a modality of project development under the Clean Development Mechanism of the United Nations Framework Convention on Climate Change and the other organized by the Enviro
April 26, 2021
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KT, Samsung Electronics launch world’s 1st nationwide emergency telecom network
Mobile carrier KT teamed up with Samsung Electronics to launch the world’s first emergency telecommunications network that covers the whole nation, KT said Monday. The system, based on wireless LTE technology, integrates the networks of 335 state institutes, such as the police, railway defense and firefighting agencies, and is available anywhere in Korean territory -- land or sea -- allowing for a swifter, coordinated response against major natural disasters and accidents. “The
April 26, 2021
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Seoul stocks up for 3rd day on recovery hopes, vaccination campaign
South Korean stocks closed up for a third consecutive session Monday, as progress in the local vaccination campaign and strong US economic data fueled hopes of a quick economic rebound from the pandemic. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 31.43 points, or 0.99 percent, to close at 3,217.53 points. Trading volume was moderate at about 1.3 billion shares worth some 15.4 trillion won ($13.8 billion), with gainers outnumbering lo
April 26, 2021
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Assessment system for ESG lacks consistency: FKI
Appraisals for ESG -- the management trend that focuses on environmental, social and governance factors -- tend to lack consistency as different rating agencies apply different standards, a major business representation here said Monday. According to a report by the Federation of Korean Industries, about 40 percent of businesses witnessed a conspicuous variation in the ESG ratings they have received from key evaluation agencies. The given study included 55 companies among the nation&rsquo
April 26, 2021
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Shinhan’s green fund invests in wind farm project
Shinhan Financial Group said Monday it has dedicated its first chunk of a 240 billion-won fund ($215 million) into a wind turbine project, as part of an ongoing initiative to support the government’s New Deal programs. The Shinhan Green New Deal Fund was designed to double down investments in the renewable energy sector for the country to achieve sustainable development after the COVID-19 pandemic. Affiliates of Shinhan Financial Group including Shinhan Bank and Shinhan Life Insurance
April 26, 2021
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Kakao Pay heads to Kospi
Kakao Pay, the financial technology arm of mobile giant Kakao, is finally heading to the country’s main stock board, defying market expectations that it was considering the tech-heavy secondary market or even overseas listings. The company filed for a preliminary review for its listing to KRX , the stock market exchange, on Monday, a regulatory filing showed. According the the disclosure, the IPO is expected to be priced between 73,700 won ($66.32)and 96,300 won per
April 26, 2021
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[Herald Interview] ‘Education should be a balanced combination of teaching and coaching’
The education business is often equated with “teaching” -- that is, delivering facts and figures to students to advance their academic output. But according to the founder of an education-based business here, the concept should be understood in a more comprehensive way to encompass “coaching” -- addressing the detailed needs and emotions of students and trainees. “One of the key goals of my business is to convey to young people and our employees that education
April 26, 2021
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“We Can Do”: Vine Group’s corporate social responsibility programs
Since 2017, education services firm Vine Group has been running a social contribution project named “We Can Do” -- a free program designed to help teenagers with building confidence, leadership and communication skills. The company’s youth self-improvement program began in 2017, offering free learning materials to participants as part of the company’s wider corporate social responsibility efforts. The program launched an online program last year due to the COVID-19 pan
April 26, 2021
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Insurers' risk-based capital ratio falls in Q4 last year
Insurance firms in South Korea saw their risk-based capital fall in the fourth quarter of last year, data showed Monday. The risk-based capital (RBC) ratio of local insurance firms stood at 275.1 percent at end-2020, down 8.8 percentage points from three months earlier, according to the data from the Financial Supervisory Service (FSS). Their RBC ratio fell in the fourth quarter as their funds to hedge against risks increased, the FSS said. A key yardstick of financial stability, the RBC rati
April 26, 2021
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Overseas branches of Korean insurers report 34.8% drop in 2020 profit
Overseas branches of South Korean insurance firms reported a 34.8 percent drop in their combined net profit for 2020, mainly due to economic pains from the COVID-19 pandemic, data showed Monday. The overseas branches posted a combined net profit of $45.6 million last year, compared with a net profit of $69.9 million in 2019, according to the data from the Financial Supervisory Service (FSS). "COVID-19's impact on the life insurers' business and the increased losses of nonlife insurance co
April 26, 2021
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Samsung's new QLED TV sales top 10,000 units in S. Korea
Samsung Electronics Co. said Monday sales of 2021 QLED TV models have topped 10,000 units in South Korea less than two months since its release as the company expects more premium TV sales amid the pandemic-induced stay-at-home trend. The world's largest TV maker said new QLED TVs, launched on March 3 here, achieved the milestone twice as fast as its predecessors last year. The domestic sales of total QLED TVs stood at around 40,000 units between March 3 and April 23, according to the company.
April 26, 2021
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Samsung to launch new budget smartphone in S. Korea this week
Samsung Electronics Co. said Monday its Galaxy M12 budget smartphone will be sold in South Korea this week as the tech giant eyes to expand mobile sales here by introducing more price-competitive models. The M12 will hit local shelves Wednesday through online sales channels at 198,000 won ($180), the company said. The M12 has been already released in select markets including Vietnam, India and Britain. The smartphone with a 6.5-inch screen comes with a quad-rear camera setup, featuring a 48-m
April 26, 2021