Most Popular
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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[Weekender] Geeks have never been so chic in Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US Air Force blames power loss, weather for F-16 crash in S. Korea in May 2023
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Samsung expected to introduce new Exynos processor in next Galaxy series
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Ex-president Moon recalls in memoir NK leader voiced will not to use nukes
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Yoon vows to advance freedom, welfare to uphold spirit of 1980 pro-democracy uprising
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Yuhan to market Samsung Bioepis’ Remicade, Enbrel biosimilars in Korea
South Korean pharmaceutical company Yuhan Corp. said Wednesday that it had become Samsung Bioepis’ exclusive marketing partner to sell two of Samsung’s biosimilar drugs in Korea, replacing the role of MSD Korea.The two companies have signed an agreement under which Yuhan will exclusively market and sell Samsung’s biosimilars referencing Enbrel and Remicade in Korea, Yuhan said. Previously, US-based MSD, or Merck & Co., had sold the two Samsung-developed biosimilars, which are marketed locally un
IndustryOct. 11, 2017
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Possible irregularities found in granting K-Bank's license
An independent panel in charge of drawing up financial reform measures said Wednesday it has found possible irregularities by financial authorities in granting a license to the nation's first Internet-only bank, K-Bank. The possible irregularities are centered on Woori Bank, one of the major shareholders of K-Bank with a 10-percent stake, according to the panel. Under banking laws, Woori Bank was required to have a capital adequacy ratio of more than the average ratio of banks when financial aut
MarketOct. 11, 2017
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Korea imposes stricter emission standards on new coal power plants: report
South Korea imposes emission standards on eight private coal power plants under construction that are stronger than those in Germany and Japan, a report said Wednesday.The government has set the permissible sulfur oxide emission level at 15 ppm, which compares with 39 ppm for Japan and 70 ppm for Germany, according to the report written by Rep. Lee Che-ik of the major opposition Liberty Korea Party and based on data obtained from the Ministry of Trade, Industry and Energy and state-run electrici
IndustryOct. 11, 2017
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Solid offloads Pantech's IoT biz
Pantech Co., formally South Korea's No. 3 smartphone maker until suspending its handset business last year, said Wednesday it decided to sell its Internet-of-Things division.The company was on the verge of facing bankruptcy before being acquired by local telecom device firm Solid Inc. Through a regulatory filing, Solid said it will sell Pantech's IoT business to Woori-Net, another South Korean telecom firm. (Yonhap)Pantech struggled to normalize its operations by releasing the IM-100 smartphone
TechnologyOct. 11, 2017
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Kia hires ex-PSA designer to beef up style, identity
Kia Motors Corp., South Korea's No. 2 carmaker, has hired Oleg Son, a former Peugeot Citroen Automobiles SA designer, to differentiate the styling of its vehicles, the company said Wednesday. Starting early November, the French-born Oleg Son, 57, will work with Vice President Pierre Leclercq, a former BMW designer, to develop Kia's long-term design strategy and lead design innovation, the company said in a statement. This photo, provided by Kia Motors, shows former PSA designer Oleg Son. (Yonha
MobilityOct. 11, 2017
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SK to acquire Dow Chemical’s PVDC unit
An affiliate of SK Innovation has signed a deal to purchase a chemical unit under Dow Chemical to expand its packaging product businesses, the company said Wednesday.The deal is the second transaction between SK Global Chemical and the US chemical company. The SK affiliate bought Dow Chemical’s ethylene acrylic acid business for $370 million earlier this year. (Yonhap)The sale price of Dow’s polyvinylidene chloride (PVDC) business is not revealed as the company has no obligation to make a public
IndustryOct. 11, 2017
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OECD advises Korea to use more advanced digital tools
South Korea needs to increase its use of more advanced digital tools to fully harness business opportunities going forward, according to a report released Wednesday by the Organization for Economic Cooperation and Development."Korea is above the OECD average for some types of usage, such as news reading and content creation, but could improve regarding more sophisticated online activities by individuals, such as cloud computing and job searches," the OECD said in the Digital Economy Outlook 2017
TechnologyOct. 11, 2017
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Agro-food exports to China rebound in September
South Korea's food and agricultural exports to China rebounded for the first time in six months in September, thanks to strong sales of gingseng, ramyeon and beer, the government said Wednesday. Outbound shipments of food and agricultural products to China was estimated at $108 million in September, up 1.1 percent from a year earlier, according to the data compiled by the Ministry of Agriculture, Food and Rural Affairs. Sea food products, such as dried laver, were not included on the list. Sales
EconomyOct. 11, 2017
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CJ Cheiljedang to spend W200b on instant food business
CJ Cheiljedang Corp., South Korea's leading processed foods maker, said Wednesday it will invest 200 billion won ($176 million) to further foster its instant meal business in the next three years to meet robust consumer demands.The affiliate of the country's food and entertainment giant CJ said it aims to post 3.6 trillion won in sales from its instant dishes, commonly referred to as home meal replacement products here, in 2020.Its sales from the instant meal business surpassed the 1 trillion-wo
IndustryOct. 11, 2017
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Goldman Sachs invests $30m in Korean food firm
Global investment giant Goldman Sachs has invested $30 million in a local bakery ingredients maker amid the rapid expansion of the country's dessert market, the Korean firm said Wednesday. Sun-in Co. said the investment will be spent to improve its manufacturing and distribution facilities, as well as to develop technology to optimize ordering and delivery experiences for clients. Founded in 1989, Sun-in is the largest bakery ingredients manufacturer and distributor in South Korea, according to
IndustryOct. 11, 2017
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Korean shares up in late morning trading
South Korea's bourse traded higher late Wednesday morning, buoyed by Samsung Electronics and foreign investors remaining net buyers of local stocks. The benchmark Korea Composite Stock Price Index rose 14.61 points, or 0.6 percent, to 2,448.42 as of 11:20 a.m.Large caps had a mixed morning of trading, with market kingpin Samsung Electronics adding 2.46 percent and global chipmaker SK hynix up 0.11 percent.Hyundai Motor rose 1.99 percent, and its smaller affiliate Kia Motors traded 2.19 percent h
MarketOct. 11, 2017
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Kyobo hires robot to recommend books
Kyobo Book Centre will hire a humanoid robot to improve on its services for readers.The Hapjeong branch of Kyobo Book Centre will introduce the android named Pepper starting Wednesday, for users’ guide on how to navigate the bookstore and for customized book recommendations. Pepper (SoftBank Robotics Corp.)Pepper, developed by SoftBank Robotics Corp. of Japan, is able to detect emotions and give different book recommendations according to readers.After introducing Pepper at its Hapjeong branch,
TechnologyOct. 11, 2017
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Chinese medical tourist numbers dip amid THAAD row
The number of Chinese medical tourists to South Korea declined sharply in the first half of this year, mainly due to the diplomatic row with China over the deployment of a US anti-missile system here, government data showed Wednesday.According to the data compiled by the Ministry of Health and Welfare, the number of Chinese people arriving South Korea for medical purposes declined 24.7 percent on-year during the January-June period. China has been banning package tours to South Korea since
EconomyOct. 11, 2017
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Samsung showcases 2 new image sensors
Samsung Electronics Co. showcased two new image sensors with reduced sizes and improved performance Wednesday to meet rising demand for bezel-less smarpthones.The South Korean tech giant said the 12-megapixel ISOCELL Fast 2L9 and the 24-megapixel ISCOCELL Slim 2X7 will provide solutions to the dilemma in which the size of image sensors must increase to apply higher resolution, while demand for simpler smartphone design restricts space. This image of Samsung Electronics Co.`s ISOCELL Fast 2L9 ima
TechnologyOct. 11, 2017
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Inflight DFS sales drop amid keen competition with Internet, airport stores: data
Sales at inflight duty-free shops operated by South Korea's national flag carriers have decreased in the past few years, industry data showed Wednesday, amid fierce competition with Internet and airport duty-free stores.Sales figures for South Korea's eight carriers dropped to 332.8 billion won ($293.7 million) last year from 346.6 billion won in 2014 and 337.8 billion won in 2015, according to the statistics compiled by Rep. An Ho-young of the ruling Democratic Party. (Yonhap)By airline, Korean
IndustryOct. 11, 2017
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Customs office eases regulations on small duty-free shops
South Korea's customs office said Wednesday it will ease regulations on small and medium-sized duty-free shops to allow them to more freely relocate within the same administrative district. The Korea Customs Service has limited small and medium- sized duty-free shops from moving to other locations as it grants license to operators as a way to attract foreign travelers and boost the local economy. The local duty-free industry had benefited from the influx of Chinese travelers over the past severa
EconomyOct. 11, 2017
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LG's OLED TV sales exceed 10,000 units in Sept. at home
LG Electronics Inc. said Wednesday its monthly sales of high-end organic light-emitting diode TVs surpassed the 10,000-unit mark on its home turf for the first time in September on the back of reasonable prices and good consumer responses.The South Korean tech giant said the figure indicates the company sold one LG OLED TV every four minutes last month.LG Electronics has been promoting OLED TVs, which boast improved resolution by having each pixel on the screen emit light. Such products are capa
TechnologyOct. 11, 2017
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Korea maintains top spot in global shipbuilding orders in Sept.
South Korean shipyards maintained the No. 1 position in new orders worldwide in September, while their order backlog also rose for the first time in 23 months, industry data showed Wednesday.According to the data compiled by global research firm Clarkson Research Institute, local shipbuilders clinched new orders equal to 1.46 million compensated gross tons last month to build a total of 26 vessels.South Korean shipyards clinched deals last month to build 11 very large container vessels, 10 very
IndustryOct. 11, 2017
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Korea ranks 22nd in per capita net financial assets: Allianz report
South Korea ranked 22nd in the per capita net financial assets among 53 major economies last year, a report said Wednesday.The average South Korean had 28,180 euros in financial assets including cash, bank deposits, stocks, insurance and pensions last year, according to a global wealth report by the German-based Allianz Group. It marks an increase of 809 euros from 27,371 euros the previous year, when the ranking was 21st. The United States had the largest amount at 177,210 euros last year due t
MarketOct. 11, 2017
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Chinese online games gaining success in Korea
Chinese online games are quickly infiltrating the South Korean market while South Korean games are virtually shut out of China due to diplomatic fallout, industry officials said Wednesday.The top 20 rankings in online games sales on Google Play Korea as of Tuesday showed five from China, with "Girls' Frontline" reaching No. 4. The game previously beat locally produced MMORPG games, which is a strong market for South Korea, to reach as high as No. 2. Officials said South Korean game companies, o
TechnologyOct. 11, 2017