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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Finance minister stresses gov't efforts to tackle structural problems, external risks
South Korea's finance minister on Friday highlighted ongoing government efforts to address security risks and a set of structural problems such as economic polarization so as to spur growth.Finance Minister Kim Dong-yeon, who doubles as the deputy prime minister for economic affairs, made the remarks during a meeting with former high-ranking officials, which was arranged to listen to their advice on how to revitalize Asia's fourth-largest economy. "We have been striving to address structura
EconomyOct. 27, 2017
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[Weekender] Tycoon’s unusual dream
For Chey Tae-won, chairman of SK Group, it all started with one question. For years, the second-generation chaebol scion was seeking a way to inherit his father’s legacy of nurturing scientists and scholars for the nation’s future. Though SK was making social donations and running corporate responsibility programs under his lead, Chey wasn’t sure whether those outreach efforts -- worth billions of dollars a year -- were making any progress in society, where problems of unemployment and the incom
IndustryOct. 27, 2017
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[Herald Interview] ‘Semiconductors still have so much room to grow’
DAEJEON -- In 2000, professor Yoo Hoi-jun of the Korea Advanced Institute of Technology predicted that cellphone screens would grow larger and users would play games on the phones. To prove his prophesy, he confidently showcased demos of mobile chips to tech titans like Samsung, Nvidia and Sony at the time, though to lukewarm responses. In 2006, Yoo came up with even more advanced argument: artificial intelligence would be the future. The expert on electrical and electronics engineering was insp
TechnologyOct. 27, 2017
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Korea’s semiconductor exports hit record high
Semiconductors export shares accounted for more than 16 percent of Korea‘s annual exports for the year, a record high for the industry, according to industry data on Friday. Led by Samsung Electronics and SK hynix, the world’s leading chipmakers, the data showed that chip exports reached $70.4 billion from January to September, an increase of 55.6 percent compared to last year. The figure accounts for 16.4 percent of Korea’s total exports of roughly $430.1 billion, representin
EconomyOct. 27, 2017
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iPhone 8 preorders begin in Korea amid weak global sales record
Apple opened up preorders for the new iPhone 8 and iPhone 8 Plus in South Korea on Friday amid skepticism over their market success here as the two devices have been posting a weak initial sales record in other global markets. Korea’s mobile carriers SK Telecom, KT and LG Uplus began receiving online reservations for the iPhone 8 and iPhone 8 Plus on Friday. Korea was included in the iPhone 8 series’ third wave of international releases following their official global debut on Sept. 22. The 4.
TechnologyOct. 27, 2017
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[Monitor] Consumer sentiment rebounds following reduced ‘North Korean risk’
Amid easing political tensions between Washington and Pyeongyang, South Korea’s consumer sentiment figures have rebounded in October, according to a survey by the Bank of Korea on Friday. The composite consumer sentiment index for October climbed to 109.2, marking a 1.5-point increase compared to September, the data shows. A reading above 100 means that more companies are expressing optimism over negative sentiments. During June and July, the index reached 111.1 and 111.2, respectively. Ho
EconomyOct. 27, 2017
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Seoul stocks at fresh record high on bargain hunting
South Korean stocks ended at a fresh all-time high Friday on bargain hunting. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index gained 16.00 points, or 0.64 percent, to close at 2,496.63. Trade volume was moderate at 504.56 million shares worth 6.25 trillion won ($5.5 billion), with gainers outnumbering decliners 554 to 245.Foreigners bought 96 billion won worth of stocks, offsetting the same value of stocks sold by institutions. Tech and steel stock
MarketOct. 27, 2017
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[Weekender] Heyground provides safe community for social ventures
Step into the lobby of Heyground and it‘s like falling through a rabbit hole.The building’s sleek tile floors, stylish neon signs and hoodied entrepreneurs zooming around on electric scooters seem worlds apart from the surrounding industrial sights of Seongsu-dong in eastern Seoul.“We call it the scrap metal view,” joked Jeong Da-hyun, a manager at impact ecosystem builder Root Impact, looking out the floor-to-ceiling window from the seventh floor. “It’s got its own charm.”The Heyground building
IndustryOct. 27, 2017
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SPC Group launches new pizza brand
SPC Group has launched a new fine casual pizza restaurant called Pizza Up, according to the group Friday.Pizza Up is the third fine casual dining line launched by SPC following hamburger chain Shake Shack and salad bar Pig in the Garden.Pizza Up (SPC)The restaurant, located near Hongik University Station, specializes in customized pizzas that diners can put together by choosing from roughly 60 toppings.Huh Jae-young of street lifestyle brand Stereo Vinyls, who worked with SPC to design the inter
IndustryOct. 27, 2017
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Asiana increases Incheon-Hawaii route frequencies
Asiana Airlines will operate its Incheon-Hawaii route every day from Sunday, an increase from five flights a week, the airline said Friday.Over 680,000 people have flown on the Incheon-Hawaii Asiana route since 2011. (Asiana Airlines)To promote the increased frequencies, Asiana is offering a 7 percent discount coupon to passengers who book the Incheon-Hawaii route via the airline‘s website or mobile app through Nov. 30.By Won Ho-jung (hjwon@heraldcorp.com)
IndustryOct. 27, 2017
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Moody's revises Posco’s rating outlook to positive
Global credit rating firm Moody‘s upgraded its outlook on steel company Posco’s Baa2 rating from stable to positive, according to the firm Friday.“The rating actions mainly reflect our expectation that Posco‘s financial profile will continue to improve over the next 1-2 years, underpinned by an increase in earnings and debt reductions,” Gloria Tsuen, a Moody’s vice president and senior analyst, said through a statement.The ratings firm said that profits from Posco‘s construction business was exp
IndustryOct. 27, 2017
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Once-hotshot Pantech sold for $9,000
Telecom equipment provider Solid that had acquired Pantech in 2015 said Friday it signed an agreement with special purpose company K&A Holdings to sell Pantech for 10 million won ($8,841), ending the history of the once-hotshot Korean mobile maker.Solid had a 100 percent stake of Pantech, which is around 110 billion won in debt as of June. Under the deal, Solid is set to ditch Pantech’s business after suspending its smartphone business in May and selling its Internet of Things business earlier t
IndustryOct. 27, 2017
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Air Busan to add bigger planes, build hangar in long-term strategy
Air Busan Co., a South Korean budget carrier, said Friday it will add bigger planes to its fleet and build its own hangar in the next 10 years to meet growing demand for low-cost flights. In its mid-term strategy, Air Busan plans to introduce midsize passenger jets with 300 to 400 seats after 2020 to serve on long-haul routes to destinations that include Hawaii, Australia and Europe, the company said in a statement.Air Busan, the budget carrier unit of Asiana Airlines Inc., currently operates 15
IndustryOct. 27, 2017
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Kia swings to Q3 net loss on costs, weak China sales
Kia Motors said Friday it swung to a net loss in the third quarter due to weak China sales and one-off provisions involving wages.The country’s second-largest carmaker shifted to a net loss of 291.8 billion won ($258 million) in the July-September quarter from a net profit of 664.3 billion won a year earlier. A traffic light turns red near the headquarters buildings of Hyundai Motor Co. and its affiliate Kia Motors Corp. in this photo taken on Sept. 10, 2017. (Yonhap)Kia reflected approximately
MobilityOct. 27, 2017
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Korea to create W85b global infrastructure venture fund
South Korea will create an 85 billion won ($75.2 million) global infrastructure development fund to address the key constraints of private investment in overseas projects, the land ministry said Friday. The Ministry of Land, Infrastructure and Transportation signed an agreement with the Korea Development Bank and the Export-Import Bank of Korea to shoulder 40 billion won, 25 billion won and 20 billion won, respectively, for the “Global Infra Venture Fund.”The state investors will rai
EconomyOct. 27, 2017
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Korea's air traffic edges up in Q3 on outbound travels
Air traffic in South Korea rose slightly in the third quarter on strong demand for outbound travel and increased routes to Southeast Asia, government data showed Friday. A total of 195,355 planes flew into and out of South Korea in the July-September period, up 1.2 percent from a year earlier, the Ministry of Land, Infrastructure and Transportation said. Air traffic was the busiest on Sept. 30, the first day of the long Chuseok holiday when local airports served 2,259 flights. The number o
EconomyOct. 27, 2017
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Seoul stocks extend gains late Friday morning
South Korean stocks extended gains late Friday morning as investors scooped up blue-chip stocks on bargain hunting.The benchmark Korea Composite Stock Price Index rose 11.97 points, or 0.48 percent, to 2,492.60 as of 11:15 a.m. Tech and steel stocks led gains, with market bellwether Samsung Electronics Co. rising 0.80 percent and leading steelmaker POSCO advancing 2.56 percent. Among other gainers, Naver Corp., the country's leading online portal operator, climbed 3.93 percent and No. 1 ch
MarketOct. 27, 2017
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Potential job seekers rise in Q3
The number of potential job seekers jumped in the third quarter of this year, data showed Friday, in an indication of a tougher employment market even though the nation's economy grew at a solid pace. Potential job seekers, who are not categorized as jobless but are looking for jobs, rose by about 194,000 people on year to some 1.6 million people during the July-September period, according to the data by the Statistics Korea. It was the first time that the quarterly number of potential job seeke
EconomyOct. 27, 2017
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Exports by startups to hit record $20b this year: KITA
Exports by South Korea's venture startups will likely hit a record $20 billion this year helped by surging shipments of instrumentation and control devices and semiconductor production equipment to China and Vietnam, industry data showed Friday.The amount reached $14.7 billion for the first nine months this year, up 14.6 percent from a year earlier, according to the statistics provided by the Korea International Trade Association.Exports by startups rose to $18 billion last year from $16.7 billi
EconomyOct. 27, 2017
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Cost to make kimchi to fall 11% this year
The cost to make kimchi, the traditional Korean side dish made from cabbage, radishes and hot peppers, is expected to fall this year thanks to stable supplies of major vegetables and ingredients, the agriculture ministry said Friday. The Ministry of Agriculture, Food and Rural Affairs said the cost to make kimchi, called "kimjang," for a four-member household was estimated at 244,070 won ($215.9) as of Oct. 20, down 10.8 percent from a year earlier. Many Koreans make large quantities of kimchi
IndustryOct. 27, 2017