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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Volvo Korea aspires to sell 8,000 units in 2018
Volvo Car Korea, the local importer and distributor for the Swedish automaker, on Friday said it plans to sell 8,000 units here next year riding on the popularity of XC60 midsize SUV, XC90 large SUV and soon-to-be-launched XC40 compact SUV. “To invest in dealer networks, we need to sell about 10,000 units annually,” said Lee Yoon-mo, Volvo Car Korea CEO, during a lunch meeting with the media. “Our target sales for next year is 8,000 units. We view it as a moderate goal considering recent growth.
MobilityDec. 15, 2017
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[Weekender] South Korea’s skyscraper dream
Cloud-piercing skyscrapers filling the skylines are often held up as a symbol of a country’s economic power and technological development.Korea’s first high-rise 63 Building located in Yeouido, western Seoul, opened doors to the public in July 1985 during the country’s rapid economic growth.The 274 meter high, 63-floor building is no longer the tallest building here. But it stands as a landmark and a symbol of the so-called Miracle on the Han River. After the 1997 Asian financial crisis the Kore
IndustryDec. 15, 2017
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Phillip Morris to hike e-cigarette price by 4.7%
The South Korean unit of Philip Morris International Inc. said Friday it will jack up the price of its heat-and-burn electronic cigarette by nearly 4.7 percent next week.The per-pack price of HEETS, the tobacco units used with its electronic tobacco heating device IQOS, will go up to 4,500 won ($4.13) starting Wednesday, a 4.65 percent increase from the current 4,300 won.The envisioned price raise is to reflect a recent jump in the individual consumption tax imposed on heat-and-burn products and
IndustryDec. 15, 2017
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Samsung to start sales of limited Galaxy Note 8 case
Samsung Electronics Co. said Friday it will start sales of a smartphone case exclusively designed for the flagship Galaxy Note 8 next week in South Korea.Samsung said if users place the Galaxy Note 8 inside the case, a special theme will automatically be applied to the smartphone, displaying a unique skin in the background. The case is jointly produced by 99AVANT, a local design firm. (Yonhap)The South Korean company said only 99 units of the case will be available for sale, which kicks off Tues
TechnologyDec. 15, 2017
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Air Busan to launch charter flights to Kumamoto
Air Busan Co. said Friday it will launch three weekly charter flights to Kumamoto from Busan this month through February so tourists can enjoy the hot springs and golf courses in the central Japanese city.A 195-seat A321-200 jet will depart Gimhae International Airport early in the morning every Tuesday, Friday and Sunday between Friday and Feb. 27.The city is the capital of Kumamoto Prefecture on the west coast of Japan's Kyushu Island and is famous for its old castle and recreational infrastru
IndustryDec. 15, 2017
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Samsung BioLogics completes 3rd plant in Songdo
Samsung BioLogics has completed the construction of its third plant boasting an annual production capacity of 180,000 liters in Songdo of South Korea.The Korean contract drug manufacturer announced that it has finished building its third production plant, which stands as the biggest single-site biologics drug manufacturing facility in the world.The facility is a four-square building that spans across 118,618 square meters, which is the size of around two football fields, according to Samsung Bio
IndustryDec. 15, 2017
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[Eye Plus] ‘LP bars’ shine in tech-saturated Korea
As the world delves further into the digital revolution led by new, cutting-edge technologies, many South Koreans are seeking solace from the mainstream by embracing the simpler times of the past. A key manifestation of this countertrend is the rise of “LP bars” -- retro music bars where visitors can listen to LP records of old music with an analog sound.Surprisingly, these bars are most popular among not older generations, but people in their 20s and early 30s who have found a new way of enjoyi
IndustryDec. 15, 2017
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Gov't mulls introducing punitive damages to tech extortion
The South Korean government is considering a string of measures, including a punitive damages system, to resolve the technology extortion issue as part of its efforts to root out the unfair business practice by large corporations, officials said Friday.There have been persistent reports of big companies stealing technology from their subcontractors that have little means to fend off unfair business practices for fear of losing supply contracts. "Relevant parties, including the Ministry of Small
TechnologyDec. 15, 2017
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State utilities to expand drone use for facility maintenance
South Korea's state-run utilities companies will expand the use of drones in checking power stations and other facilities to improve efficiency and safety, the energy ministry said Friday. The Ministry of Trade, Industry and Energy announced the plan in a meeting of drone developers, state utility firms and research institutes to expand use of the unmanned aerial vehicles in the energy sector.The Korea Power Electric Corp., which has been using 37 drones for system maintenance since May 2016, sa
IndustryDec. 15, 2017
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Antitrust chief urges voluntary change of conglomerates
The head of South Korea's antitrust watchdog said he expects the country's large businesses groups to voluntarily reform their cobweb-like family-run governance structures to meet market expectations and promote fair competition."I once again reaffirm that I will never be pushy and coercive in carrying out reform on conglomerates," Fair Trade Commission Chairman Kim Sang-jo said in a meeting with reporters on Thursday. "They are fully aware of what they have to do and I hope they will change the
IndustryDec. 15, 2017
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Korean washers popular in US despite trade row
South Korean washers are receiving top-notch reviews from US tech evaluators, industry watchers said Friday, amid actions being taken by Washington's trade watchdog to slap tariffs on some products.US-based industry tracker Reviewed said in its latest report that LG Electronics Inc.'s washer with the model name LG WM9000HVA won the Best Washers for Large Families category."LG's TurboWash feature is remarkable. It mixes up the spray pattern of a wash cycle in order to speed things up while still
IndustryDec. 15, 2017
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Turnover of derivatives market gains 9% in H1
The trading volume of South Korea's derivatives market expanded nearly 9 percent in the first half of the year on the back of a bullish stock market, the financial regulator said Friday.The combined turnover of derivatives, such as stock options and futures, reached 20,047 trillion won ($18.4 trillion) in the January-June period, up 8.6 percent from a year earlier, according to the Financial Supervisory Service.Exchange trading jumped 11.4 percent on-year to 13,267 trillion won, while the turnov
MarketDec. 15, 2017
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Carmakers ordered to recall nearly 320,000 vehicles
Six carmakers will recall nearly 320,000 vehicles in South Korea due to faulty parts, the transport ministry said Friday.This is the latest in a series of recall orders issued by the Ministry of Land, Infrastructure and Transport to both domestic and foreign carmakers.Six carmakers -- Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Maserati, Mercedes-Benz and Toyota Motor Corp. -- plan to recall 12 different models totaling 319,264 vehicles, the ministry said in a statement. (Yonhap)The model
MobilityDec. 15, 2017
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Senior Korean official to protest EU's tax haven blacklisting
A senior foreign ministry official will protest the European Union's recent blacklisting of South Korea as a tax haven country during a meeting in Brussels Friday, a government source said.Deputy Foreign Minister for Economic Affairs Yun Kang-hyeon left for Brussels on Thursday to attend a regular Korea-EU meeting, a ministry official told Yonhap on the condition of anonymity."It is an annual gathering that marks the 14th of its kind. But as it comes after the blacklisting decision, the iss
MarketDec. 15, 2017
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Samsung, LG to debut new laptops
Samsung Electronics Co. and its smaller rival LG Electronics Inc. debuted their latest laptops on Thursday.Samsung Electronics' latest product is a follow-up to a pen-equipped laptop, the Notebook 9 Pen, that was released earlier this year.Bringing its S Pen technology to the company's notebook lineup, the new model will include Intel's latest eighth generation processor, the company said. Like the previous Notebook 9 series, the model has a 360-degree hinge with a touch screen and includes Sams
TechnologyDec. 14, 2017
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SK Incheon Petrochem forecasts another record-breaking year
SK Incheon Petrochem, the petrochemicals unit of the nation‘s top refiner SK Innovation, is expected to post record-high operating profits this year, largely backed by swift sales of the company’s paraxylene products used to produce polyester textiles and plastic bottles. SK Incheon Petrochem's plants in Incheon (SK Incheon Petrochem)SK Incheon Petrochem expects to log operating profit that could surpass the record number achieved last year, the company‘s officials said. The petrochemicals unit
IndustryDec. 14, 2017
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[Photo News] Korea Importers Association celebrates 47th anniversary
CELEBRATING IMPORT -- Participants attend a ceremony marking the 47th anniversary of the Korea Importers Association at Westin Chosun Hotel in Seoul on Wednesday. From front row fifth from left are Ghana Ambassador to Korea Difie Agyarko Kusi, Canadian Ambassador Eric Walsh, KOIMA Chairman Shin Myoung-jin, wife of Chairman Shin Lee Kyung-hee, Czech Ambassador Tomas HUSAK and South African Ambassador Nozuko Gloria Bam. (KOIMA)
IndustryDec. 14, 2017
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S-Oil rewards heroic firefighters
S-Oil has presented awards and prizes worth 90 million won ($82,700) to eight heroic firefighters at a ceremony held at the Yeongdeungpo fire department in Seoul on Thursday, the company said. S-Oil CEO Othman al-Ghamdi (left) poses with firefighter Kim Mee-hee during an award ceremony at Yeongdeungpo fire department in Seoul on Thursday. (S-Oil)After receiving nominations from the National Fire Agency and the Korea National Council on Social Welfare, the company decided to reward firefighter Ki
IndustryDec. 14, 2017
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SK-Sinopec JV highlighted amid Moon‘s visit to China
Wuhan Petrochemical, the SK-Sinopec joint venture, has been highlighted as a successful case of a cooperative project between the two countries during President Moon Jae-in’s state visit to China this week.The Korea-China petrochemical joint venture was forged by SK Global Chemical and Sinopec, China‘s largest petrochemical firm in 2013 with the two investing 3.3 trillion won ($2.91 billion) with the ratio of 35 percent to 65 percent, largely backed by SK Group Chairman Chey Tae-won’s vision to
IndustryDec. 14, 2017
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Korea's annual trade volume tops $1tr
South Korea's annual trade volume surpassed the $1 trillion mark for the first time in three years, driven by upbeat exports of memory chips and petrochemical products, the government said Thursday.The total amount of trades by Asia's fourth-largest economy reached the threshold as of Thursday afternoon, according to the data from the Ministry of Trade, Industry and Energy and the Korea Customs Service.Annual trade volume surpassed the $1 trillion mark for four consecutive years from 2011, but i
EconomyDec. 14, 2017