Most Popular
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Do Korean doctors make too much money?
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Korean industries gauge impact of Biden's steep tariffs on China
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Court refuses injunction on medical school expansion
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Why Korean crime stories typically feature nameless, faceless perpetrators
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Is FTC's conglomerate listing a boon or bane for Hybe?
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NewJeans to headline palace show
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Coupang's Kim Bom escapes chaebol chief designation again
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Debate on 'no-seniors zones' heats up
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S. Korea, Cambodia forge strategic partnership
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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Korean economy grows 1.5% on-quarter in Q3: BOK
South Korea's on-quarter economic growth in the July-September period was the fastest in nearly seven years on brisk manufacturing and construction, central bank data showed Friday.The country's gross domestic product expanded 1.5 percent in the third quarter from the previous three months, up 0.1 percentage point from earlier estimates, according to the preliminary data from the Bank of Korea.The on-quarter growth accelerated from a 0.6 percent quarterly expansion three months earlier and marke
EconomyDec. 1, 2017
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Korea's exports up 9.6% in Nov. on memory chips
South Korea's exports rose 9.6 percent in November from a year earlier to mark the 13th consecutive monthly gain, fueled by strong demand for memory chips and machinery, government data showed Friday.Outbound shipments came to $49.67 billion for November, up from $45.3 billion a year earlier, according to data compiled by the Ministry of Trade, Industry and Energy and the Korea Customs Service.The total value of exports in the first 11 months of this year hit a record high of $528.4 billion.Expo
EconomyDec. 1, 2017
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Govt. to pump in W2.2tr through 2022 for 4th industrial revolution
South Korea's government said Thursday it will allocate 2.2 trillion won ($2 billion) for research and development projects throughout 2022 to better prepare for what it calls the fourth industrial revolution.Under the project dubbed "I-Korea 4.0," the Presidential Committee on the Fourth Industrial Revolution said it will secure new growth engine for the country by expanding industries' productiveness and competitiveness under the idea of "intelligence, innovation, inclusiveness, and interactio
IndustryNov. 30, 2017
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[Monitor] South Korea‘s industrial output dips
South Korea’s industrial output dropped in October from the previous month, ending three consecutive months of a rise mainly due to a slump in the auto industry, data by Statistics Korea showed Thursday.Compared to the previous year, industrial output also dipped 5.9 percent as of last month.Production of vehicles dipped 11.3 percent last month from September.Production dropped 1.1 percent on-month in the mining, manufacturing, gas and electricity industries, while the service sector also
EconomyNov. 30, 2017
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Posco Daewoo signs $60m deal in Pakistan
Posco Daewoo, the trading arm of the South Korean steel giant, has signed a $60 million contract with a Pakistani paper manufacturing company, it said Thursday.Under the deal, Posco Daewoo will supply plant equipment to Century Paper & Board Mills, one of the largest paper making companies in Pakistan. Posco Daewoo CEO Kim Young-sang (left) shakes hands with Century Paper & Board Mills President Iqbal Ali Lakhani, after signing a $60 million contract in Karachi, Pakistan, Wednesday. (Posco Dae
MobilityNov. 30, 2017
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Korea’s ICT investment heavily reliant on Samsung: report
Investments in information and communication technologies in South Korea slightly grew in 2016 from a year earlier, but more than half of the investments were made by the country’s No. 1 conglomerate Samsung, a report found on Thursday. According to the report by the Institute for Information & Communications Technology Promotion, investments by Korean companies in ICT rose from $21.73 billion to $22.17 billion last year. Korea ranked fourth among top 10 countries in terms of the amount of ICT i
TechnologyNov. 30, 2017
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LG Electronics creates new convergence, B2B units
LG Electronics on Thursday announced the launch of a new business-to-business unit and a convergence business development center as part of an organization reshuffle for 2018. To accelerate preparations for future businesses, LG established the Convergence Business Development Center with the goal of planning the development of new technologies such as artificial intelligence, the Internet of Things and device-to-device connectivity solutions. The new entity can be compared to Samsung Research,
IndustryNov. 30, 2017
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Decision on LG OLED plant in China likely to be finalized in Dec.
The government‘s decision to approve an organic light-emitting diode plant in China for LG Display is likely to be finalized this year, according to a senior official at the Industry Ministry. On Thursday, the Ministry of Commerce, Industry and Energy held a closed-door meeting of a committee it had formed of private experts in the display sector to review LG’s plan to build an OLED plant in Guangzhou. “We will report the consensus made during today’s meeting to the minister and the final decisi
IndustryNov. 30, 2017
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SK Innovation to invest W1tr in EV battery
SK Innovation said on Thursday it plans to invest around 1 trillion won ($920 million) in building an electric vehicle battery plant in Hungary and in expanding production facilities for EV batteries in Korea. The battery maker said it would set aside 840 billion won for the Hungary plant that begins construction in February next year. By 2020, the plant will be capable of producing 7.5 gigawatt-hours per year of battery. With SK‘s latest decision, all three Korean battery makers have now advanc
IndustryNov. 30, 2017
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Kia Motors’ Stinger shortlisted for 2018 North American Car of the Year
(Yonhap)Kia’s Stinger sports sedan has been shortlisted as one of three finalists for the 2018 North American Car of the Year, the company said Thursday. The other two finalists are Honda Motor’s Accord sedan and Toyota Motor’s Camry sedan.The final result will be announced at the Detroit motor show in January. Kia Motors’ Stinger is the sixth model of Hyundai Motor Group to be listed as a finalist for the award. The group’s luxury sedan Genesis was its first model to be among the finalists, fol
MobilityNov. 30, 2017
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Mercedes-Benz bets on AMG models in Korea
Mercedes-Benz said Thursday it sees big growth potential in South Korea's high-performance vehicle market as local customers respond to distinct products and services. In a press conference held in Seoul to introduce a series of new models, Mercedes-Benz Korea President and Chief Executive Dimitris Psillakis said the German carmaker will provide "differentiated services" through its performance-based AMG models to meet the needs of customers in South Korea's rapidly growing performance car marke
MobilityNov. 30, 2017
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Samsung Securities’ PB managers expand frontiers through field trips
Field trips for Samsung Securities’ private banking managers, arranged by the fourth-largest securities firm in net worth in South Korea, have been the key to the PB managers’ deeper understanding of foreign investment destinations and their cultivation of investment opportunities, the firm said Thursday.The program dubbed “Samsung Securities Global Frontier” has made it easier for its private banking managers to get up-to-date issues in their investment destinations, it
MarketNov. 30, 2017
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[Photo News] Mercedes-Benz Korea celebrates AMG's 50th anniversary
50TH ANNIVERSARY -- Mercedes-Benz Korea CEO Dimitris Psillakis introduces the latest Mercedes-Benz AMG models and services at the event held to celebrate the 50th anniversary of the German luxury automaker‘s iconic performance division AMG in Seoul on Thursday. (Mercedes-Benz Korea)
MobilityNov. 30, 2017
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Kia Motors launches gasoline-powered Stonic in Korea
Kia Motors on Thursday began sales of the gasoline-powered Stonic in the Korean market in an attempt to counter its sales decline here and abroad. The price of the gasoline Stonic has been set at between 17 million won ($16,000) and 20 million won, 2.4 million won lower than the 1.6-liter diesel Stonic launched in July, according to the company. The gasoline version of the Stonic is also around 1.5 million won cheaper than other small SUV models here. Kia Motors' gasoline-powered Stonic /Kia Mo
MobilityNov. 30, 2017
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[Newsmaker] Amid rumors, GM Korea’s new CEO puts financial viability first
Amid persistent rumors of leaving South Korea, GM Korea’s new chief said Thursday he would focus on reviving the financial stability of the carmaker first by cutting down its costs and promoting sales next year. In his first meeting with Korea media, Kaher Kazem, president and CEO of GM Korea, said the carmaker will launch Equinox, a Chevrolet compact sports utility vehicle, next year to expand the carmaker‘s sales volume.Kaher Kazem, CEO and president of GM Korea, speaks at a press conference i
MobilityNov. 30, 2017
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IFM Investors opens Seoul office for institutional clients
Australian institutional asset manager IFM Investors announced Thursday it would open an office in Seoul to expand its client base in South Korea. The Melbourne-based company, which focuses on infrastructure equities and debts, will sell offshore long-term investment portfolios to institutional investors here. The Seoul office will be run by its in-house analyst Glenn Morey, Client Relationship Director Lee Ki-jeong and senior external adviser Hur Kyung-wook. The portfolios by IFM Investors
MarketNov. 30, 2017
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[Advertorial] Designer-friendly co-working space brings startup idea to life
Acquiring an office space for a fledgling startup is a grueling, if not impossible, task. Hence on the rise were co-working spaces that are shared and utilized by numerous freelancers, independent contractors and other professionals.Add to that a sense-stirring interior design, 3-D printers ready to use, recreational spaces, regular networking events and even shower booths, and the result is a hybrid version of co-working spaces operated by Hyundai Card.“Every piece of tableware,
MarketNov. 30, 2017
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SK Chemicals to adopt holding company structure
SK Chemicals, the chemicals and biopharmaceutical arm of South Korea’s SK Group, will officially take on a holding company structure from Friday, marking the biggest structural change for the company since its foundation 48 years ago. SK Chemicals will be split into a holdings company and a business operations company, in line with the board’s approval secured in June this year. The holdings firm will hold 48 percent of the initial SK Chemicals shares, while the operating firm will hold 52 perc
IndustryNov. 30, 2017
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[News Focus] Can Korea effectively investigate Google’s covert data collection?
South Korea has become one of the first countries to start questioning Google over recent reports confirming the firm has been collecting location data from Android phones even when GPS services were disabled. But will it be able to investigate with effective consequences?Experts here say that it is unclear whether Korean regulators can properly interrogate Google, as well as take punitive measures if needed, given the difficulties of investigating a foreign IT company whose servers and key exec
TechnologyNov. 30, 2017
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Moon vows all-out support for SMEs, new businesses
President Moon Jae-in promised to provide all-out support for small and medium-sized enterprises and startup businesses Thursday, calling them a second heart or engine for growth.The pledge came in a ceremony marking the launch of the newly created Ministry of SMEs and Startups. The ceremony came about a week after Hong Jong-haak was appointed its inaugural minister.Noting the new minister has promised to work as a salesperson for SMEs and new venture firms, the president said the government too
IndustryNov. 30, 2017