Most Popular
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Court refuses injunction on medical school expansion
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Is NewJeans headed for a long 'break'?
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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LG Display’s OLED plant in China approved by government
LG Display’s plan to build an organic light-emitting diode plant in China was conditionally approved by the South Korean government after a five-month-long review, giving the green light to the firm amid growing demand for OLED TVs in the global market.The Ministry of Trade, Industry and Energy said Tuesday it approved LG Display’s OLED plant for televisions in Guangzhou, considering its positive ramifications, including market expansion and job creation at LG Display’s partner companies. The ap
IndustryDec. 26, 2017
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[Photo News] Massive Move-in
Final-stage works are being done at Raemian brand apartments in Seocho district, Seoul, Tuesday. Residents will start to move in from January next year. According to local market research company Real Estate 114, a total of 43,066 households will move in, a record high for the month of January. Throughout next year, some 440,000 households are expected to settle into new apartments, surpassing a record-high figure marked in 1990s when five new metropolitan towns opened, the report added. (Yonhap
IndustryDec. 26, 2017
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Korean biopharma firms see mixed results in drug licensing
South Korea’s biopharmaceutical companies have had a mixed licensing record this year, with some striking major license-out deals and others losing their contracts over reporting issues related to clinical trials. Last week, HanAll BioPharma — an affiliate of Seoul-based Daewoong Pharmaceutical — and Genexine both sealed licensing deals for their drug candidates with foreign pharma firms, raising market expectations for the two Korean drugmakers.HanAll Biopharma has licensed out the development
IndustryDec. 26, 2017
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Korea panel approves LG Display's factory plan in China
A government panel on Tuesday greenlighted LG Display Co.'s 5 trillion-won ($4.4 billion) project to build its first large organic light-emitting diode plant in China.The panel under the Ministry of Trade, Industry and Energy had been reviewing the plan since July when LG Display asked the government to approve its investment in the southern Chinese city of Guangzhou.The panel gave the condition that LG Display must increase the localization of its equipment and its investment at home. A model s
IndustryDec. 26, 2017
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LG distributes AI development tool to all divisions to speed up growth
LG Electronics Inc. said Tuesday it has distributed its artificial intelligence development tool to all business divisions in line with its efforts to speed up the release of new products equipped with the latest technology.The South Korean tech giant said the development platform, dubbed DeepThinQ 1.0, will help researchers easily apply deep-learning technologies to electronics products. The announcement came a week after the company introduced the new AI brand named ThinQ, which will be used i
TechnologyDec. 26, 2017
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Govt., steelmakers discuss ways to tackle US trade protectionism
South Korea's trade ministry and local steelmakers have discussed ways to cope with the United States' growing trade protectionism including adjusting steel exports, officials said Monday.The ministry held a meeting with trade experts and local steelmakers, including top player POSCO and its rival Hyundai Steel Co., on Thursday to discuss how to tackle Washington's move to restrict the imports of South Korean steel products.Some experts proposed the need for local companies to reduce steel expor
EconomyDec. 26, 2017
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[From the scene] At T2, speed and efficiency are key
Tile floors gleam and sunlight streams in overhead through the glass-paneled ceiling at the second passenger terminal of Incheon Airport, which is in the last stages of preparation to open to the public on Jan. 18.The terminal represents the culmination of a nine-year project worth 5 trillion won ($4.63 billion).The first thing that catches the eye is the ceiling, about 5 meters taller than that of the first terminal. The high ceiling is one of the ways in which the second terminal has tried to
IndustryDec. 25, 2017
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Bad weather affects 1,400 flights at Incheon Airport over Christmas holiday
Heavy fog in the west coast of Gyeonggi Province and other inland parts of Korea on Saturday and Sunday led to a massive volume of flight cancellations and delays at Incheon Airport, causing a three-day chain effect lasting to Christmas Day. The fog is now gone, but the impact is still reverberating at the country’s biggest airport. According to airport authorities, on Monday, 280 flights were delayed due to rescheduling and two were canceled due to a lack of reservations, as of 1 p.m. Incheon A
IndustryDec. 25, 2017
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[Monitor] S. Korea’s quarterly growth rate third-highest in G-20
South Korea’s quarterly growth rate of gross domestic product in volume grew 1.5 percent in the third quarter of the year, according to data compiled by the Organization for Economic Cooperation and Development.The country’s growth rate between July and September was the third-highest on-quarter increase among G-20 countries, after China and India. China’s GDP in volume grew 1.7 percent, while India saw 1.6 percent of growth in the same period.
EconomyDec. 25, 2017
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Users look for emotional aspects when using AI: report
South Korean customers expect emotional responses from artificial intelligence programs more than technological benefits, a survey showed Monday. (Innocean Worldwide)Innocean Worldwide, an advertising agency under Hyundai Motor Group, analyzed some 480,000 AI-related keywords online. Its big data analysis team found that customers sought more for interaction and understanding from artificial intelligence, considering them friends and assistants.Related keywords when sharing experiences with AI
TechnologyDec. 25, 2017
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Hyundai Engineering to start sales of Hillstate apartments in Gumi
Hyundai Engineering will start sales of its new Hillstate brand apartments in Songjeong, Gumi, the company said Monday. Lot sales will start in January next year, and residents will be able to move in around May 2020, according to the company’s officials. The complex consists of seven apartment buildings as high as 20 stories. It will hold 526 households, mostly small or medium-sized, the company added An artist’s drawing of the Hillstate apartment complex in Songjeong, Gumi, North Gyeongsang Pr
IndustryDec. 25, 2017
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Economic recovery without wage hikes picked among top 10 trends next year
Economic recovery without a wage increase has been picked as one of top 10 global trends next year, a local think tank said Monday. In the 2018 Global 10 Trends report, the Hyundai Research Institute (HRI) said an economic recovery without wage hikes is widely expected globally as employers in advanced countries prefer hiring low-paying temporary workers to regular employees. The research institute expected the number of low-paying jobs in the food and housing industry will increase but that of
EconomyDec. 25, 2017
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LG, Samsung rev up connected car business
LG Electronics said Monday it had won safety certification for self-driving components by Germany-based testing service provider for quality and safety, TUV Rheinland, signaling the tech firm moving further into the automobile industry. LG said it received safety certification for advanced driver assistance and infotainment systems and vehicle display, to meet growing demand for the safety of self-driving vehicles. This is the second time the Korean tech firm has received safety certification re
TechnologyDec. 25, 2017
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Innovating service sector crucial to sustain growth
Korea needs to step up efforts to advance service industries to ensure sustainable economic growth amid mounting trade protectionism across the globe, economists here say.In terms of service sector competitiveness, the country remains near the bottom among member states of the Organization for Economic Cooperation and Development.According to OECD data, labor productivity of service industries was just 45.1 percent of that of manufacturing industries in Korea in 2014, far below 87.8 percent in F
EconomyDec. 25, 2017
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Homeplus holds charity events for those in need
Korean discount chain Homeplus is stepping up efforts to replace its year-end parties with charity events for those in need. “We decided to focus more on making social contributions to return the love we have received and to look after our neighbors in need. We will also make this social work last throughout next year,” said Lim Il-soon, chief executive of Homeplus. Lim Il-soon (first from left), chief executive of Homeplus, poses with Rep. Han Jung-ae of the Democratic Party of Korea and Choi D
IndustryDec. 25, 2017
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[Kosdaq Star] Crypto fear prompts Raonsecure recovery
This is the 47th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed.Raonsecure, a local mobile security solutions provider, had a year filled with a string of opportunities, as the government pushed to abolish the use of ActiveX from major websites and approved operations of mobile banks. But nothing seems to have pushed the price ceiling of the Kosdaq-listed company further than growing interest in one particular market -- cryptocurrency.On the back
MarketDec. 25, 2017
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Mirae Asset operates quarter of Korea's private pension fund
Mirae Asset Global Investment was managing over 300 private or retirement pension funds worth a combined 5.02 trillion won ($4.65 billion) as of November, a quarter of the domestic market, according to the firm Monday.The volume of the pension funds run by the asset management arm under Mirae Asset Group jumped more than fourfold in November from the end of 2010. The company managed private pension funds worth a combined 2.59 trillion won, while its retirement pension funds were worth
MarketDec. 25, 2017
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Jeju Air to operate more international flights in winter
Jeju Air will temporarily increase international flights for routes that tend to see a spike in demand during winter, the low-cost carrier said Monday. The flights will operate in and out of Jeju Airport and Cheongju Airport. There will be flights between Jeju and Manila in the Philippines between Friday and Jan. 1. (Yonhap)Three round trips between Jeju and Chiang Mai, Thailand, are scheduled in January. Five round trips between Jeju and Danang, Vietnam, are also planned in February.A total of
IndustryDec. 25, 2017
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Samsung C&T wins 455 bln won reclamation order in Hong Kong
Samsung C&T Corp., the construction unit of Samsung Group, said Monday it secured a 455 billion won ($420 million) land reclamation project in Hong Kong.In a joint venture with local company Build King, Samsung C&T received the order from Hong Kong's Civil Engineering & Development Department to reclaim land from the sea for a new town on northern Lantau Island, the company said in a statement. Mainland Chinese tourists pose for photos in front of Victoria Harbour and the skyline in Hong Kong on
IndustryDec. 25, 2017
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Total assets held by private insurers top 1,000 trillion won in 2016
Total assets held by South Korea's private insurers surpassed the 1,000 trillion won ($926 billion) mark in 2016, 94 years after the first firm started operations, industry data showed Monday.The 2016 insurance statistical yearbook released by Korea Insurance Development Institute, showed combined assets held by local insurance agencies reached 1,034.1 trillion won. The total includes 782.1 trillion won controlled by life insurers and over 252 trillion won in assets owned by non-life insurance c
IndustryDec. 25, 2017