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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Rapper jailed after public street fight with another rapper
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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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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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Samsung chief bolsters ties with Germany’s Zeiss
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KT launches new mobile plans for foreign residents
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[Exclusive] Gender issues cost Deloitte Consulting place in Asia-Pacific unit: sources
Deloitte Consulting Korea has failed to join Deloitte Asia Pacific, a single business entity that combines the operations of the global consulting firm in the region, partly due to gender disparity at its Seoul office, sources told The Korea Herald.Formed in September 2018, the firm’s Asia-Pacific umbrella combines operations in China, Japan, Southeast Asia and Australia as a unified business unit. India is expected to join the alliance this year, while Korea is still excluded from th
Jan. 13, 2020
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Visa Korea to launch new services amid changing fintech landscape
Visa Korea on Monday announced plans to launch new services this year, in an effort to grow its presence in the emerging segments of big data and contactless payment solutions.To help its corporate clients strengthen their marketing strategies, Visa Korea said it would provide marketing solutions based on big data analytics technology for a more diverse range of businesses. The global payment giant currently has a team of 500 data analysts and consultants who offer insights into data-based marke
Jan. 13, 2020
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Korean realty investments in Europe jump 122%
South Korean investments in European commercial real estate assets in 2019 jumped 122 percent on-year to 12.5 billion euros ($13.9 billion), on the back of Korean investors’ foreign exchange hedging against the euro and lower borrowing costs, data showed Monday.The acquisition binge also signals Korean investors’ need to digest the earlier deals in the region, according to global real estate consultancy Savills.By countries, France boasted the largest volume of Korean investments at
Jan. 13, 2020
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Kakao Bank co-CEO joins ruling party, forfeits W2.6b stock option
Lee Yong-woo, co-chief executive of South Korea’s largest neobank Kakao Bank, said Sunday he had agreed to join the ruling Democratic Party in an apparent bid to run in the general elections here in April.The accompanied move to quit the mobile-only lender comes at the cost of his stock option -- 520,000 shares in the commercial lender that may be converted to at least 2.6 billion won ($2.2 million) starting March 2021. “I’m confident that the Moon Jae-in administration&r
Jan. 12, 2020
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Lime Asset fund fiasco intensifies amid snowballing petitions, imminent lawsuit
The fiasco surrounding Lime Asset Management is likely to escalate further as investors have filed related complaints and banks which sold its fund options are gearing up to file a lawsuit.From end-October to Friday, the Financial Supervisory Service received over 100 investor petitions concerning the disputed fund sales by Lime Asset Management, according to the financial watchdog Sunday.“We are currently looking into individual cases,” said an official of the FSS. “Upon every
Jan. 12, 2020
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Hanjin KAL proxy fight looms as new investor comes to light
Hanjin KAL, the holding company of South Korea’s No. 1 air carrier Korean Air, is likely to face a proxy fight over its management, after it welcomed affiliates of builder Bando Group as major stakeholders.Eyes are fixed on whether Bando will act in favor of either of late Hanjin Chairman Cho Yang-ho’s scions in the shareholders meeting in March.Incumbent Chairman Cho Won-tae’s tenure is set to expire by March 2020. The successor’s reappointment appears to be facing uncer
Jan. 12, 2020
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Green Cross eyes W200b acquisition of EMR software vendor
A consortium led by South Korean biopharmaceutical company Green Cross has been selected as the preferred bidder for the majority stake sale of UBCare, the nation’s No. 1 electronic medical records system vendor. The investor group, composed of Green Cross and Synaptic Investment, is looking to buy some 52 percent stake in UBCare from venture capital firms STIC Investment and Kakao Investment, according to investment banking sources on Friday. The shares are roughly valued at 200 billion w
Jan. 12, 2020
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Samsung, SK hynix stocks to rally on chip market recovery: analysts
Shares of Samsung Electronics and SK hynix -- South Korea’s largest chipmakers -- which hit record highs last week should gain momentum this year on the back of the global semiconductor market’s recovery, according to analysts. Samsung shares closed at 59,500 won ($51.20) Friday, outperforming the previous all-time high of 58,600 won the previous day.Meanwhile, its crosstown rival SK hynix shed 0.1 percent from the previous trading to close at 98,900 won, failing to extend its rally
Jan. 12, 2020
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Seoul shares to trade higher on eased Mideast tension
South Korean stocks are expected to trade higher next week on eased concerns over a conflict between the United States and Iran, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,206.39 points on Friday, up 1.37 percent from a week earlier.Earlier this week, Seoul shares lost ground sharply after Qassem Soleimani, the head of Iran's elite Quds Force, was killed in a US drone strike, which led to a hike in global oil prices. Although South Korean shares rebounded
Jan. 11, 2020
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Investors accuse Lime, Shinhan, Woori of fraud after hedge fund debacle
Three individual investors have filed criminal complaints against representatives of Lime Asset Management, Shinhan Investment and Woori Bank, accusing them of fraud and capital market law violations in the sale of private equity funds, the investors’ legal representatives said Friday.Local law firm Hannuri said it had filed complaints with the Southern District Prosecutor’s Office against six officials from the three companies on behalf of the three investors.Lime Asset is accused o
Jan. 10, 2020
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Samsung Electronics again hits record high amid rosy outlook
Shares in Samsung Electronics again climbed to a record high Friday on an outlook for an earlier-than-anticipated recovery in global demand and prices for chips, while foreign investors continued to net purchase local stocks for a sixth consecutive session.Samsung, the world's No. 1 memory chipmaker, surged 1.54 percent to close at 59,500 won ($51.23), one day after spiking3.17 percent to reach the highest level since its listing in 1975. The broader KOSPI advanced 0.91 percent to close at
Jan. 10, 2020
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Foreigners turn net buyers of Korean stocks, but continue to dump bonds in Dec.
Foreign investors snapped a four-month selling streak to net purchase South Korean stocks in December but continued to reduce their investment in local bonds for a third month, central bank data showed Friday.Foreigners net bought $660 million worth of local stocks in the month, marking a sharp turnaround from a net selling of $2.44 billion the month before, according to the data from the Bank of Korea.Foreign investors had net sold local stocks for four consecutive months since August, dumping
Jan. 10, 2020
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Samsung Electronics shares hit all-time high on recovery hopes
Samsung Electronics shares hit a record high Thursday on expectations of a faster-than-expected recovery in global chip demand and prices. The world's largest chipmaker closed at 58,600 won ($50.53), up 3.17 percent from the previous session's close.The adjusted stock price is the tech giant's highest since it was listed on the Seoul bourse in 1975. The previous record was 57,220 won on Nov. 1, 2017. Samsung Electronics' preferred stocks jumped 3.64 percent to a yearly high of 48,400 won.
Jan. 9, 2020
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KOMSCO holds over 800 IP assets as of 2019
The state-run Korea Minting and Security Printing & ID Card Operating Corp. added 69 new intellectual property assets in 2019, bringing its total to 830, officials said Thursday. The affiliated technology research institute applied for 77 IP registrations, including 32 patents, 17 design rights, 16 computer programs, and nine trademarks in 2019. Of them, 69 were approved by the Korean Intellectual Property Office.The accumulated IP assets of KOMSCO as of end-December were up 9.1 percent from
Jan. 9, 2020
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Shinhan Financial kicks off tailor-made fund with KKR
Shinhan Financial Group said Thursday it has created a tailor-made fund worth $200 million with global private equity fund operator Kohlberg Kravis Roberts.The move reflected Shinhan’s efforts to grow beyond the local market and promote its global alternative investment capacity down the road.It also came in line with a memorandum of understanding on global alternative investment partnership that the two counterparts had signed in September 2018. The latest fund, tailor-made exclusively fo
Jan. 9, 2020
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KDB, K-Growth to earmark W400b fund for supply chain autonomy
South Korea‘s state-owned lender Korea Development Bank and state-led fund-of-funds management company Korea Growth Investment (K-Growth) are looking for partners to earmark a combined 400 billion won ($344.9 million) to support materials and components sectors here and ensure national self-sufficiency in manufacturing supply chains.With the state backing 220 billion won, the funds are intended to foster the growth of Korean firms dedicated to materials components and equipment and ultimat
Jan. 9, 2020
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Kakao hits yearly high on Q4 earnings hope
Shares of Kakao Corp., the operator of South Korea's largest messaging app, Kakao Talk, climbed to a yearly high on the Seoul bourse Thursday, helped by a rosy quarterly earnings outlook. Kakao stocks closed at 164,000 won ($141.56), up 2.82 percent from the previous session's close.The tech firm's stock rally came amid high hopes for the firm's earnings last year. NH Investment & Securities estimated Kakao's quarterly sales to grow 26.4 percent to 85.1 billion won in the October-December pe
Jan. 9, 2020
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[News Analysis] Can Delivery Hero-Woowa deal reshape Korea’s food delivery market?
For decades, free door-to-door food delivery service has been a common option for all kinds of South Korean restaurants.Not just pizzas, fried chicken and Chinese food, but also soups and meat dishes are just a phone call away – for delivery to homes, offices and even parks and other public spaces. The advent of digitalization, however, has led to the rise of online on-demand food delivery service platforms. Homegrown mobile apps, including Baedal Minjok, Yogiyo, Baedaltong, as well as exp
Jan. 8, 2020
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Stock market adds just 1 company to ‘W1tr club’ last year
The South Korean stock market saw only one listed firm join its 1 trillion won ($849 million) market capitalization club last year, reflecting the overall sluggish performance, according to the Korea Exchange on Wednesday.The local stock market operator said in its report that there were 194 listed companies in the exclusive club at the end of last year, just one more than the previous year.Seoul’s benchmark Kospi welcomed three new big caps, for a total of 168. The tech-laden secondary Ko
Jan. 8, 2020
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SK hynix hits all-time high on improved market outlook
Shares in SK hynix Inc., the world's second-largest DRAM maker, traded at an all-time high on Wednesday on expectations that the chipmaking sector is set to improve this year after bottoming out in the fourth quarter of last year.SK hynix finished at 97,400 won ($83.18) on Wednesday, up 3.62 percent from the previous session's close, bucking a 1.11 percent dip in the benchmark KOSPI. The shares touched a record high of 99,500 won at 11:15 a.m., the highest-ever quotation. Investors bet that the
Jan. 8, 2020