Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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US expert says N. Korea might ignore Trump if he returns to White House
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[Photo News] Seoul seeks 'best sleeper'
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Yoon vows to advance freedom, welfare to uphold spirit of 1980 pro-democracy uprising
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Sales at duty-free stores decline during golden holiday
Sales at South Korean duty-free stores fell during the extended holiday season compared to a year ago mainly due to a sharp drop in incoming Chinese travelers, industry officials said Monday. Local duty-free shops have prepared a wide range of promotional events to woo shoppers at home and abroad as China's Oct. 1-8 National Day holidays overlaps with the this year's 10-day long Chuseok holiday in South Korea that kicked off on Sept. 30.Despite the rise in outbound travelers, this year's holiday
IndustryOct. 9, 2017
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Export of ramyun, beer, dried laver to China surge despite THAAD row
Exports of South Korean ramyun instant noodles, beer and dried laver to China have surged despite the diplomatic row over the deployment of an advanced anti-missile system here, government data showed Monday.According to data provided by the Ministry of Agriculture, Food Rural Affairs exports of the three products from January through August of this year reached to around $150 million. This is equivalent to 18 percent of the country's processed food and farm exports in the same period that was v
EconomyOct. 9, 2017
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Samsung Electronics to launch smart building IoT system
Samsung Electronics Co. will launch an Internet of Things system that can incorporate artificial intelligence into the management of buildings, industry sources said Monday.Business insiders said the South Korean tech giant will unveil its smart building the system at its headquarters in southern Seoul on Oct. 18.The so-called b.IoT can be used to automatically control the temperature and lighting of buildings by using various sensors and other information provided by closed-circuit TVs.IoT is a
TechnologyOct. 9, 2017
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Large retailers post sales growth during long Chuseok holiday
South Korea's large retailers posted solid sales ahead and during this year's Chuseok holiday helped by all out marketing efforts to attract customers, industry sources said Monday.Data provided by local retailers showed double digit growth by some companies as the country celebrated the longest holiday in decades. Chuseok, or the Korean autumn harvest celebration, that fell on Wednesday this year is one of the most important in the country, along with Lunar New Year. During the holiday people v
IndustryOct. 9, 2017
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[News Focus] US safeguard likely to hurt Samsung, LG washer sales
The US International Trade Commission’s latest ruling in favor of Whirlpool to impose safeguard restrictions on Samsung Electronics and LG Electronics will deal a blow to the Korean tech giants, who together sell $1 billion worth of washing machines every year in the US. Whirlpool filed a petition with the ITC in May, seeking restrictions to stop Korean firms from flooding the US market with cheaper washers. A safeguard law is a restraint on international trade to protect home industries from fo
IndustryOct. 8, 2017
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iPhone 8 likely to hit S. Korea on Nov. 3: sources
Apple’s latest iPhone 8 series is expected to be released in South Korea on Nov. 3, with reservations starting at the end of the month, according to industry insiders Sunday. Apple Korea is expected to open reservations for the new iPhone 8 via the country’s top three mobile carriers on Oct. 27, they added. Korea will be among the iPhone’s third installment of international releases, following its global debut on Sept. 22. iPhone 8 (Apple) The new iPhone 8 is Apple’s first phone series to be e
IndustryOct. 8, 2017
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Number of Korea’s self-employed fourth-highest in OECD
The number of self-employed South Koreans who run businesses without any employees is the fourth-largest among the world’s major nations, according to data from the Organization for Economic Cooperation and Development on Sunday. According to the OECD’s Entrepreneurship at a Glance 2017 report, the number of self-employed workers in Korea was 3.98 million, the fourth-highest among all 35 OECD member countries as well as Lithuania, Romania and South Africa. The country’s numbe
EconomyOct. 8, 2017
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[Herald Interview] Bayer eyes Korea’s ‘deep tech’ startups for digital health care push
In the age of “digital health care,” high-tech wearables, cutting-edge medical devices and integrated apps combined with major breakthroughs in data computing and analytics capabilities are set to pave new frontiers in the health care sector. And in the global race to take over this emerging industry, South Korea’s innovative tech startups with an expertise in so-called “deep tech” involving complex engineering skills and software expertise could gain an upper hand, according to the founding chi
TechnologyOct. 8, 2017
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[Monitor] Korea Ginseng, SPC join W1tr club
The number of food and beverage companies in South Korea surpassing the 1 trillion won mark in terms of sales increased to 21 last year, with Korea Ginseng Corp., a red ginseng processing company, and SPC Samlip, the nation’s largest bread maker, joining the group.According to data compiled by Ministry of Agriculture, Food and Rural Affairs and Korea Agro-Fisheries and Food Trade Corp., CJ Cheiljedang topped the list with 4.86 trillion won of sales, followed by Lotte Chilsung Beverage and Ottogi
IndustryOct. 8, 2017
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‘Male homeowners are 7.2 times more likely to marry’
Korean men who own houses are 7.2 times more likely to get married than those who do not, a report showed Sunday.According to a joint study by Joo Hwi-jeong, a researcher at Korea Research Institute for Vocational Education and Training, and Kim Min-seok, a Ph.D. student at Chungbuk National University, men and women with regular jobs have 4.6 times and 4.9 times higher chances of tying the knot respectively than those with irregular jobs. The report tracked 1,642 single men and women aged betwe
IndustryOct. 8, 2017
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Kona I, AirPlus to offer biometric corporate cards
Korean fintech firm Kona I has partnered with payment services provider AirPlus International to offer cards using biometric authentication technology, according to the firm Sunday. The technology will enable cardholders to use fingerprints for verification instead of personal identification numbers or signatures. The firm expects to “speed up transaction time and provide increased convenience and security” through the biometric authentication. Cardholders will not need to char
MarketOct. 8, 2017
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Kospi rises 5th-fastest among major indices of G-20
South Korea’s main bourse index Kospi rose the fifth-fastest among the major indices of Group of 20 economies this year, data compiled by Korea Exchange showed Sunday.The Kospi soared 17.1 percent this year from 2,026.46 to 2,372.57 as of Sept. 27, following those of Argentina, Turkey, Brazil and Italy. Argentina’s Merval Index topped the list by jumping 49.4 percent over the cited period. This came in sync with the rallies in the G-20 countries. Nine of them saw their major indices
MarketOct. 8, 2017
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Korean chaebol's overseas subsidiaries increase gradually in recent years: report
The number of local subsidiaries established abroad by South Korea's 30 biggest business groups rose gradually in recent years, a report said Sunday, as they actively made inroads into overseas markets to survive the keen competition.The figure surged to 3,332 last year from 2,650 in 2013 and 3,053 in 2015, according to market researcher Chaebol.com. Chaebol refers to South Korea's major business groups.By country, China accounted for the biggest share with 753 or 22.1 percent of the total. 
EconomyOct. 8, 2017
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Mobile shopping sales forecast to top W40tr this year
The sales volume of South Korea's mobile shopping market is expected to top 40 trillion won ($34.9 billion) this year, the Korea Online Shopping Association said Saturday.The association forecast that purchases made through smartphones and other mobile devices in South Korea are expected to grow 19.5 percent from the previous year to reach 42.53 trillion won this year, as consumers spend more time with their handsets.In 2016, the nation's mobile shopping sales surged 45.7 percent from the previo
IndustryOct. 8, 2017
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Gov't, firms to discuss countermeasures over US finding on Korean washers
The South Korean government and tech giants Samsung Electronics Co. and LG Electronics Inc. plan to discuss ways next week to counter a possible safeguard action by the US against their washing machines, industry sources said Saturday.The move comes as the US International Trade Commission (ITC) said Thursday that imports of Samsung and LG's washing machines made in foreign countries were harming the US industry following its four-month probe prompted by a safeguard petition filed by Whirlpool C
TechnologyOct. 7, 2017
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Samsung, LG express disappointment in US ITC's remark on washers
South Korea's top tech giants Samsung Electronics Co. and LG Electronics Inc. on Friday expressed disappointment in the US International Trade Commission's (ITC) announcement that they are having an adverse impact on its washer industry.On Thursday (US time), the ITC claimed the two South Korean firms' washing machines made in foreign countries were harming the US industry. The trade body announced the result of its four-month investigation prompted by a safeguard petition Whirlpool Corp. filed
IndustryOct. 6, 2017
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Forbes launches French edition to chart 'startup nation'
Business magazine Forbes, famous for its annual ranking of the world's wealthiest, is launching a French edition to chart President Emmanuel Macron's progress in turning his country into a "startup nation".Forbes is a fortnightly magazine but the French-language edition, which will hit newsstands Friday, will be published only every three months.The first issue will retrace the 100-year history of the publication and look ahead to the next 100 through interviews with business magnates
MarketOct. 6, 2017
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Korea's imports of Vietnamese beverages jumps three-fold in 2016
South Korea's imports of beverages from Vietnam jumped three-fold in 2016 on-year, data showed Friday, apparently helped by the rising popularity of tropical fruits in the country.According to the data compiled by the Ministry of Agriculture, Food and Rural Affairs, South Korea imported $10.3 million worth of beverage products from Vietnam in 2016, rising sharply from $3.2 million posted a year earlier.Last year's figure marks a whopping 7.5-fold growth from $1.3 million posted in 2012, the data
IndustryOct. 6, 2017
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[News Focus] Securities firms seek new lending rights
Financial authorities in South Korea are set this month to grant investment-banking licenses to local equity firms and allow short-term corporate lending, but concerns are emerging as that it might undermine the firms’ financial stability.The authorities are reportedly making final touches to their three-month screening process to grant licenses as part of the push to foster big investment banks. Investment banks in excess of 4 trillion won ($3.5 billion) in equity capital will be eligible
MarketOct. 6, 2017
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US trade commission finds Korean washers hurt domestic industry
The US International Trade Commission determined Thursday that two South Korean companies' washing machines manufactured in foreign countries were harming the US industry. The trade body announced the result of its four-month investigation prompted by a safeguard petition Whirlpool Corp. filed May 31 against Samsung Electronics Co. and LG Electronics Inc. The appliance giant accused the Korea rivals of moving manufacturing operations to Vietnam and Thailand, respectively, to circumvent US anti-d
IndustryOct. 6, 2017