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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Most ICT firms rosy about 2018 outlook
A majority of South Korean ICT companies are sanguine about the country's economic and their business conditions in 2018, a poll showed Tuesday.According to the survey of 300 domestic ICT firms, 35 percent of the respondents expect Asia's fourth-largest economy to turn for the better next year.Another 50 percent predict the country's economic conditions to remain similar to those of this year, with the remainder anticipating worsening conditions.Optimists are far more this year than 2016 in the
IndustryDec. 19, 2017
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Labor disputes remain unsettled at Hyundai Motor, GM Korea
The Korean auto industry is still reeling from unsettled labor disputes that are likely to extend into next year amid sluggish sales as well as the fallout from a diplomatic row with China this year. Hyundai Motor, the nation’s largest carmaker, and GM Korea, the Korean branch of the US carmaker, are unlikely to reach agreements with their respective labor unions over wages this year, according to industry watchers Monday. (Yonhap)If they fail to narrow differences in the remaining two weeks of
MobilityDec. 18, 2017
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Dyson officially claims LG’s A9 descriptions are misleading
UK-based Dyson Technology Limited said Monday in an official statement that it will actively deal with a legal process against South Korea’s LG Electronics, claiming that the company’s cordless vacuum cleaner is described in a misleading manner. LG Electronics` cordless A9 vacuum cleaners. (LG Electronics)“Dyson embraces fair competition but we believe advertising and claims should be accurate and true in order that consumers can make informed choices when they select a product,” the company sa
TechnologyDec. 18, 2017
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Korea aims to attract more tourists from Southeast Asia
The South Korean government said Monday it will focus on attracting more visitors from Southeast Asia as part of its efforts to diversify its tourist portfolio after it suffered a sharp drop in inbound foreigners in the face of a diplomatic row between Seoul and Beijing.The government will concentrate its policy efforts on promoting the country's tourism to people from Indonesia, Vietnam and India, as well as those from Taiwan and Hong Kong, and seek ways to simplify their entry into the country
IndustryDec. 18, 2017
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Seoul expects US pressure on auto, steel in FTA talks
South Korea’s Trade Ministry said Monday that it will seek to start talks with the United States on amending the bilateral free trade deal as early as within a month, and take guard against Washington’s anticipated pressure in the auto and steel sectors.The Ministry of Trade, Industry and Energy submitted its Korea-US Free Trade Agreement road map to the National Assembly, wrapping up the domestic procedure that precede the actual renegotiation of the trade deal.“There is a pos
EconomyDec. 18, 2017
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KT&G exports to break W1tr in 2017
Cigarette maker KT&G is expected to see record high exports in 2017 as it pushes ahead in foreign markets in pursuit of becoming one of the top four global tobacco companies by 2025.As of the end of the third quarter, KT&G had seen 802.5 billion won ($737.2 million) in cigarette sales abroad, with overseas sales making up 36 percent of the company‘s total earnings. Industry analysts are expecting overseas sales to break 1 trillion won for the first time this year. A consumer buys Esse cigarettes
IndustryDec. 18, 2017
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LG Uplus partners with Naver to enter artificial intelligence speaker market
LG Uplus, South Korea’s third-largest mobile carrier by revenue, on Monday announced its entry into the growing artificial intelligence speaker market in partnership with the country’s No.1 search engine Naver in order to take on bigger players SK Telecom and KT. Naver’s AI platform Clova-based speaker Friends Plus edition will connect to LG Uplus’ set top box for Internet Protocol TV and home Internet of Things services, enabling users to control the mobile carrier’s services with voice command
TechnologyDec. 18, 2017
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Coupang opens Christmas promotion
E-commerce platform Coupang has opened special Christmas promotion running until Dec. 25, the company said Monday. (Yonhap)Special discounts up to 20 percent for some 56,000 toys for children from brands such as Lego, Yong Toys, Bandai and Mimi World. Under the special gift category, the company has also listed products for adults such as digital and home appliances, kidult toys, food, books and CDs/ DVDs. All purchases under the category are subject to Rocket Delivery to be competed the next da
IndustryDec. 18, 2017
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Exports of traditional Korean rice wine plunge
South Korea’s exports of traditional rice wine, or makgeolli, plunged by more than 75 percent last year compared to five years ago, according to a market report Monday. Last year, outbound shipments of Korean rice wine fell to $12.87 million, down by 75.6 percent from 2011, when combined shipments reached their highest level of $52.74 million, according to data compiled by Korea Agro-Fisheries and Food Trade. (Yonhap)The figure for this year is expected to go down further, as exports of Korean
IndustryDec. 18, 2017
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SK completes acquisition of Dow Chemical packaging business
SK Global Chemical on Friday completed its acquisition of Dow Chemical’s packaging product business, the company said in a statement Monday. SK Global Chemical, the chemical unit of SK Innovation, signed a deal with Dow Chemical to acquire the US chemical firm’s polyvinylidene chloride (PVDC) unit in October. PVDC is used for clear film packaging including plastic food wrap. (Yonhap)With the deal completed, SK Global Chemical now has full control of properties previously owned by Dow Chemical. T
IndustryDec. 18, 2017
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Korean convenience store to install Tesla EV chargers
Convenience store chain CU will provide charging stations for Tesla’s electric vehicle at four of its stores. CU announced Monday that a total of seven chargers will be installed at Gapyeong Sangcheon, Cheongpyeong Daein, Uiwang Ojeongongdan, Bibong Premium stores.The stores have been selected based on their less-than-an-hour distance from Seoul, the parking capacity, access to the high way and the suitability as a leisure driving path. (BGF Retail)Tesla Korea installed its exclusive charging e
MobilityDec. 18, 2017
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Samsung, Hyundai confronted major challenges throughout 2017
South Korea's top two family-controlled conglomerates, Samsung and Hyundai, faced never-before-seen challenges throughout 2017, casting a cloud over the nation's long-term economic outlook.On the surface, Samsung Group enjoyed one of its best years in 2017 due to the boom in the chip industry. Samsung Electronics Co.'s operating profit came to 14.53 trillion won ($13.3 billion) in the July-September period, rising sharply from 5.2 trillion won posted last year.The Samsung companies, however, suf
IndustryDec. 18, 2017
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Korea to embrace next key technology trends for growth
South Korea will step up investment in the next key technology trends to create quality jobs and improve an industrial structure heavily reliant on large conglomerates and the manufacturing sector, the commerce ministry said Monday. The Ministry of Trade, Industry and Energy submitted the industry development plan to parliament, which aims to create over 300,000 jobs with increased investment in innovative industries by 2022."The industrial structure's heavy dependence on certain industries, com
TechnologyDec. 18, 2017
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Govt. set up W1tr fund for restructuring of SMEs
The government will set up a 1 trillion-won ($918 million) fund to restructure struggling small and medium-sized enterprises as part of its drive for "market-oriented" corporate restructuring, officials said Monday. Under the scheme, eight state-run and retail banks, including Korea Development Bank, will raise 500 billion won by the end of next February as a "mother" fund, the Financial Services Commission said in a statement. The remaining 500 billion won will be rais
MarketDec. 18, 2017
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Korea expects US pressure on auto industry in FTA talks
South Korea's trade ministry said Monday it will push to start talks to amend the free trade agreement with the United States within a month or so and expected Washington to engage in hardball tactics, especially in autos.The Ministry of Trade, Industry and Energy reported its FTA plan to the National Assembly, wrapping up the domestic procedures required for beginning the renegotiation of the five-year-old trade deal. The latest move comes as Seoul accepted US President Donald Trump's demand to
EconomyDec. 18, 2017
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Koreans to spend less on gift buying amid weak employment conditions: poll
South Koreans plan to spend less on year-end and new year holiday gifts in the coming few weeks compared to the year before amid rising unemployment and unstable job security, a poll showed Monday.The average South Korean plans to spend about 203,000 won ($183) buying gifts toward the end of the year, down 58,000 won from 2016, according to the survey of 240 people done between Nov. 21-24 by market researcher DMC Media.The survey attributed the fall to growing joblessness, decreasing job securit
IndustryDec. 18, 2017
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One in 10 units of top groups listed as foreign-invested firms
Slightly over 1 in 10 subsidiaries of South Korea's top 10 business groups are listed as foreign-invested companies eligible for tax and other benefits, a market tracker said Monday.As of end-November, 91 of the groups' 665 units, or about 14 percent of the total, were registered with the government as foreign-invested corporations, according to Chaebul.com.Those companies include Hotel Lotte Co., Lotte Chemical Corp., Hotel Shilla Co. and Hyundai Glovis Co. The number is up 34 from 2017.Under S
IndustryDec. 18, 2017
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Korea's ratio of domestic demand to GDP ranks low: report
South Korea's ratio of domestic demand to its gross domestic product ranks low among major advanced and emerging markets, which could come as a hurdle to its sustainable growth, a report showed Monday.South Korea's domestic demand accounted for an average 61.9 percent of its GDP between 1996 and 2015, according to the report from the National Assembly Budget Office.The figure ranks 27th among the 35 member nations of the Organization for Economic Cooperation and Development, and six major emergi
IndustryDec. 18, 2017
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Stepping into the webtoon world, literally
Reading a webtoon, or digital comics, has long been a passive experience. We read the story by scrolling down the screen of a smartphone. But this is on the verge of change in tech-forward South Korea, where the marriage of cutting-edge technology and web comics is creating a unique and interactive storytelling model that invites the reader into the picture -- in a literal sense. Leading the push is Naver Webtoon, Korea’s biggest webtoon platform, operated by portal website Naver. It recently pa
TechnologyDec. 17, 2017
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More than 1 in 10 Korean workers underpaid: data
More than 1 out of 10 South Korean workers were paid below the minimum wage in 2016, with many being teenagers, elderly or female workers, government data showed Sunday. Out of 19.62 million workers, 2.66 million, or 13.6 percent, were paid below the minimum wage as of August 2016, up from 1.89 million in 2007, Statistics Korea said.The ratio of the underpaid workers stood at 4.9 percent in 2003, but the level has steadily risen to over 10 percent over the past decade, the national statistics of
EconomyDec. 17, 2017