Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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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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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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[Robert J. Fouser] Social attitudes toward language proficiency
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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PUBG, Lineage 2: Revolution propel Korea's game industry expansion
South Korea's game industry has expanded dramatically this year with the growing popularity of PlayerUnknown's Battlegrounds and Netmarble's Lineage 2: Revolution industry sources said Wednesday.Sales of the game industry is expected to hit 11.5 trillion won ($10.6 billion) this year, up 6.2 percent from last year, according to statistics provided by the Korea Creative Content Agency.PUBG, a multiplayer online battle royale game developed and published by Bluehole subsidiary PUBG Corporation, ha
IndustryDec. 20, 2017
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Samsung overcomes crisis, LG remains in doldrums in 2017 smartphone industry
Samsung Electronics Co. successfully launched new smartphones throughout 2017 to overcome last year's crisis sparked by the suspended production of Galaxy Note 7, while LG Electronics Inc. failed to turn around its handset business, industry watchers said Wednesday.In April, Samsung Electronics released the Galaxy S8 smartphone, which was its first premium device after the production of its phablet Note 7 was removed from the market due to safety issues surrounding the batteries. Despite concern
TechnologyDec. 20, 2017
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Excavators on sale at large discount chain
Apart from shopping for groceries and daily necessities, local customers also have the chance to buy heavy equipment at a local hypermarket warehouse store. Hyundai Construction Equipment announced Monday that four mini excavators are now on sale at Emart Traders’ Gunpo branch in Gyeonggi Province, through Monday, with prices ranging from 26.5 million won ($24,400) to 45 million won, based on size. (Hyundai Construction Equipment)On the first day of the event, Friday, a customer purchased a 1.7
IndustryDec. 20, 2017
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Govt. eyes economic growth in 3% range in 2018
The government expects the economy to grow in the 3 percent range in 2018 following an estimated expansion of more than 3 percent this year, informed sources said Wednesday.It would mark the first time in seven years that Asia's fourth-largest economy will likely achieve a growth rate of 3 percent or more for two straight years.According to the sources, the finance ministry is slated to unveil its 2018 economic policy a week later, which may target an economic growth rate of 3 percent or higher.
EconomyDec. 20, 2017
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Hyundai Motor labor, management reach tentative wage agreement
Hyundai Motor Co.'s union and management reached a tentative wage deal, ending concerns that protracted talks, possibly extending into the new year, could further hurt the company already struggling to cope with tough times, corporate sources said Tuesday. After 39 rounds of negotiations, union leaders at South Korea's No. 1 carmaker accepted a revised wage package offered by the company, union spokesman Hong Jae-gwan said over the phone. (Yonhap)In its revised offerings, the company said it wil
IndustryDec. 19, 2017
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Cryptocurrency exchange Youbit shuts down after hack attack
One of South Korea’s cryptocurrency markets, YouBit, was forced to shut down on Tuesday after a hacking attack, the exchange said. Hackers stole about 17 percent of YouBit’s cryptocurrency in the attack, which happened at 4:35 a.m., the exchange said in a statement posted on its website. YouBit did not reveal the value of the stolen cryptocurrency. “To minimize the damages to our customers, we will allow them to withdraw about 75 percent of their balance,” the state
MarketDec. 19, 2017
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SK Holdings receives $10m dividend from shale gas investment
SK Holdings, the holding unit of SK Group, said Tuesday that the company has received fourth-quarter dividends worth $10 million from the company‘s investment in Eureka Midstream Holdings. In September, SK Holdings purchased shares worth $100 million in Eureka Midstream Holdings, a US-based shale gas gathering and processing company owned by Morgan Stanley. (Yonhap)Houston-based Eureka currently operates midstream assets in the Marcellus and Utica Shales, the area where North America’s largest
IndustryDec. 19, 2017
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[Photo News] Korea's largest Starbucks
The largest Starbucks branch in Seoul, named “The Jongno branch,” is set to open Wednesday at Jongno Tower in Seoul. The 1,100-square-meter store is divided into six zones including a lounge zone and open stage and offers exclusive premium services such as Teavana products made with the Siphon brewing method to enhance flavor. Customers can enjoy over 100 beverages and 60 types of food at The Jongno branch. (Starbucks Korea)
IndustryDec. 19, 2017
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CJ seeks to simplify governance structure
CJ Cheiljedang, the food arm of CJ Group, will secure 20 percent of shares of the group’s logistics unit to become a sole affiliate under CJ Corp., the holding company of the conglomerate, it said Tuesday. The logistics arm of CJ Group will also merge with the conglomerate’s construction unit to create synergy in building logistics centers and other related businesses, it added.The company has decided to secure 20.1 percent of CJ Logistics’ shares currently held by KX Holdings, formerly known as
IndustryDec. 19, 2017
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G4 Rexton takes lead in large SUV market
SsangYong Motor’s G4 Rexton led the growth of the large sport utility vehicle segment in South Korea this year, according to market data Tuesday.As of October, a total of 77,516 units of large SUVs were sold, a 29 percent increase from last year, according to data compiled by the Korean Automobile Manufacturers Association. SsangYong`s Rexton G4 (SsangYong Motor)Since its debut in May, more than 13,000 units of the G4 Rexton have been sold, taking the top position in the market segment.The G4 Re
MobilityDec. 19, 2017
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Korea-Vietnam trade soars by 43 percent this year on FTA
Bilateral trade between South Korea and Vietnam increased by 43 percent on-year to reach $58.5 billion this year, making Vietnam South Korea’s fourth-largest trading partner, according to a report by the Trade Ministry on Tuesday. Bilateral trade has increased for three consecutive years since the free trade agreement between the two nations took effect in 2015. (Yonhap)According to the report by the Ministry of Trade, Industry and Energy, Korea’s combined exports to Vietnam reached $43.7 billio
IndustryDec. 19, 2017
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7.3-magnitude earthquake possible in Korea: expert
South Korea needs to set up a contingency plan in preparation for a possible 7.3-magnitude earthquake, a local expert said Tuesday. In a seminar arranged by the Federation of Korean Industries, Lee Kie-hwa, a professor at the Seoul National University's College of Natural Sciences, advised the country to prepare in advance for a big quake. "There might be an earthquake in any areas adjacent to Pohang and Gyeongju hit by earthquakes with magnitudes of over 5.0 in the past two years. A 7.3-magnitu
IndustryDec. 19, 2017
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Finance minister vows to support innovative industries with W10tr fund
INCHEON -- South Korea's chief economic policymaker said Tuesday that the government plans to support small and mid-sized companies with innovative technologies with a 10-trillion won ($9.2 billion) fund.In a meeting with officials at a electric vehicle parts maker, west of Seoul, Finance Minister Kim Dong-yeon said the government will listen to voices from various industries.Last month, the government unveiled a plan to inject a combined 30 trillion won in the next three years to foster innovat
IndustryDec. 19, 2017
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Tech firms set pace in mobile payment race
The competition for the mobile payment market is heating up in South Korea as tech firms move to outdo each other with more convenient and safer banking services on smartphones that they hope replace physical banks.Samsung Electronics’ payment service Samsung Pay launched in August 2015 is currently a dominant player with more than nine million domestic subscribers here. Samsung Pay is a mobile service allowing users to use their premium Galaxy series devices as they would use cash or credit car
IndustryDec. 19, 2017
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Samsung launches Galaxy A8 with dual front camera
Samsung Electronics announced Tuesday the new mid-end Galaxy A series with the first dual front camera and a new brand number sequence resembling the premium Galaxy S series, in a move to raise the brand’s profile and boost global sales.“With the release of the Galaxy A8 and A8 Plus, we’re bringing our customers’ favorite features from our flagship smartphones, such as the infinity display and our first dual front camera with live focus, to our Galaxy A series,” said Park Jun-ho, vice president
TechnologyDec. 19, 2017
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Korea allocates 538.4 million ton emissions rights for 2018
In an effort to tackle global warming, the South Korean government has decided to allocate 538.4 million tons of greenhouse gas emissions rights to 591 companies across 26 industries in 2018, the Ministry of Strategy and Finance said Tuesday. The government will also announce an emissions allocation for 2018 - 2020 in the first half of next year, which is a year behind the initially scheduled deadline of this June.Relevant authorities have not yet reached a consensus for the later time frame due
IndustryDec. 19, 2017
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Audi Volkswagen Korea prepares full-fledged comeback
In a bid to reclaim the No. 3 spot in the local auto market, Audi Volkswagen Korea, importer and distributor of the German vehicles, has signaled a comeback after a more than yearlong sales suspension resulting from the diesel gate emissions scandal.Last month, Audi Korea launched the R8 V10, a flagship high performance sports car, its first release in one year and three months since the S8 Plus sedan was rolled out in June last year. Models widely expected to be launched in early 2018 are Volks
MobilityDec. 19, 2017
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FTC to reinvestigate humidifier sterilizer firms over misleading info
South Korea's antitrust watchdog said Tuesday that it has decided to reopen its probe into local humidifier sterilizer firms as its task force found some procedural loopholes in the previous investigation regarding their failure to inform consumers of possible health hazards.In 2016, the Fair Trade Commission closed an inspection of two local humidifier sterilizer manufacturers, citing a lack of evidence, amid a ballooning toxic disinfectant scandal that has resulted in numerous deaths and illne
EconomyDec. 19, 2017
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Korea calls for China's fair anti-dumping probes
South Korea called on China on Tuesday to carry out its ongoing anti-dumping investigations into South Korean chemical products in a fair manner.The commerce ministry said it made the request at a bilateral free trade meeting here, which was attended by senior trade officials from both countries. A bilateral free trade agreement took effect in December 2015.In June, China launched an anti-dumping probe into South Korean exports of styrene monomer used to make polystyrene, which in turn is used t
IndustryDec. 19, 2017
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LCD TVs wane amid growth of OLED TVs in 2017: WitsView
The global market for liquid-crystal display TVs lost ground this year, while shipments of organic light-emitting diode TVs sharply increased, industry data showed Tuesday.According to the data compiled by industry tracker WitsView, global shipments of LCD TVs are expected to reach 210 million units in 2017, down 4.1 percent from a year earlier.By company, Samsung Electronics Co. accounted for 42.9 million units, followed by LG Electronics Inc. with 28.3 million units and China-based TCL Corp. w
TechnologyDec. 19, 2017