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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US expert says N. Korea might ignore Trump if he returns to White House
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SKT to fully own ICT solution subsidiary amid restructuring speculations
SK Telecom, the No.1 mobile carrier by subscriber numbers in South Korea, announced Friday it will fully own SK Telink, a total ICT solution providing subsidiary, widely seen as a move by the telecom giant to turn itself into a mid-level holdings firm.At a board meeting on Thursday, SKT’s board of directors made a decision to acquire a 14.14 percent stake in Telink, in addition to the 85.86 percent already owned by the telecom business, for 270,583 won ($236.2) per share. Telink, at the same tim
TechnologySept. 29, 2017
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Artistry sponsors BIFF for 6th consecutive year
Premium skincare brand Artistry said Friday that it will be a Diamond Sponsor for the 22nd Busan International Film Festival. This is the sixth consecutive year that Artistry has sponsored the film festival. Since 2012, the brand, run by wellness company Amway, has operated brand booths at the festival and conducted promotional events for festival visitors and consumers. Amway Korea CEO Kim Jang-hwan (right), Vice President of Global Beauty Brand of Amway Kelli Templeton (center), and BIFF Chair
IndustrySept. 29, 2017
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Toshiba deal still facing hurdles: SK head
NEW YORK -- The chief of South Korean conglomerate SK Group said Thursday its chipmaking unit's participation in a deal to acquire Toshiba Corp.'s memory business still has many hurdles to clear, adding he will keep the company on its toes until the deal is finalized.Japanese tech giant Toshiba signed a deal Thursday to sell its memory business to a global consortium which includes participants from South Korea, the United States, and Japan. The consortium also includes US-based Bain Capital, Ap
IndustrySept. 29, 2017
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Korean stocks extend gains
South Korean stocks extended gains late Friday morning as institutions turned buyers offsetting foreign selling. The benchmark Korea Composite Stock Price Index rose 13.14 points, or 0.55 percent, to 2,386.28 as of 11:20 a.m.The main index rose for a second consecutive session after a week-long losing streak due to foreign selling. Foreigners continued to sell local stocks for a fifth straight session, offloading about 830 billion won ($725 million) stocks in the past four sessions amid ris
MarketSept. 29, 2017
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Korea to ban digital currency offerings
South Korea's financial authorities said Friday they will ban all forms of initial coin offerings, joining a wave of global regulations against the popular fundraising scheme with cryptocurrencies. The decision came after a meeting of senior officials from relevant ministries, led by the Financial Services Commission, the regulator said in a statement. Initial coin offerings allow start-ups or individuals to raise funds by offering cryptocurrencies. It has fueled a surge in values of digital cur
EconomySept. 29, 2017
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Retail sales in Korea rise 4.3% in August
Retail sales in South Korea increased 4.3 percent in August from a year earlier, driven by strong sales posted by online malls and convenience stores, government data showed Friday.Sales of 13 major online stores and marketplaces jumped 13.1 percent on-year last month as more people bought airline tickets and travel packages, as well as clothing and fashion items via the Internet, according to the data from the Ministry of Trade, Industry and Energy.In contrast, sales of 13 offline-based retaile
EconomySept. 29, 2017
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IKEA Korea to launch mobile app ahead of second store opening
The local unit of global furniture giant IKEA said Friday it will launch an augmented reality technology-based mobile application next week to provide a better chance for customers to shop for its products, with its second outlet set to open in October.IKEA Place, where people can virtually place furniture in their homes or offices using the AR technology, will be available on the Apple's App Store starting Thursday, the company said. This photo provided by IKEA Korea on Sept. 29, 2017, shows it
TechnologySept. 29, 2017
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KTX bullet train attendants strike over pay
DAEJEON -- Unionized cabin crewmembers of South Korea's KTX bullet trains began a two-day strike Friday following the collapse of their wage talks with management, union officials said.The labor union of KORAIL Tourism Development Co., a unit of the state rail operator Korea Railroad Corp., said unionized workers walked off the job early Friday morning in protest over the failed wage negotiations."Labor and management continued their negotiations into late Thursday, which broke down as the compa
IndustrySept. 29, 2017
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FTC antitrust watch list increases by one in Sept.
South Korea's corporate watchdog said Thursday the number of affiliates belonging to large business groups on its antitrust watch list went up by one, as of the end of September.The Fair Trade Commission said 1,966 firms were on its monitoring list compared to 1,965 from a month earlier.Companies subject to greater oversight and restrictions belong to the country's 31 largest conglomerates, including Samsung Group and Hyundai Motor Group, with assets of 10 trillion won ($8.5 billion) or more, an
IndustrySept. 29, 2017
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Korea's current account surplus widens in August
South Korea's current account surplus widened last month from a year earlier thanks to brisk semiconductor exports, central bank data showed Friday.The country's current account surplus reached $6.06 billion in August, compared with a surplus of $5.03 billion a year earlier, according to the preliminary data from the Bank of Korea.The figure represents a surplus for 66 months in a row. The current account is the biggest measure of cross-border trade. The goods account surplus widened to $9.
EconomySept. 29, 2017
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Korean autoparts firms hold trade show in Detroit, Toronto: KOTRA
South Korean autoparts companies held a trade show in Detroit and Toronto this week to promote their products in the North American market, a state-run trade and investment promotion agency said FridayKorea Autoparts Plaza was held in Toronto Tuesday and Detroit Thursday with the participation of 51 South Korean autoparts firms that make information technology, new materials and powertrain parts for car engines, transmissions, drive shafts, suspension and wheels, the Korea Trade-Investment Promo
MobilitySept. 29, 2017
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LG to release V30 in US next week
LG Electronics Inc. said Friday it plans to release its new flagship smartphone, the LG V30, in the United States next week, kicking off fully fledged global sales of the device.The South Korean tech giant said the LG V30 will be released through major US mobile carriers starting Thursday.While the price will vary on depending on the carrier, industry watchers say it will not be much different from the local price of 949,300 won ($826.90). (Yonhap)Consumers preordering the device will be provide
TechnologySept. 29, 2017
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Seoul stocks open higher on foreign buying
South Korean stocks opened higher Friday on a wave of bargain hunting. The Korean won rose against the dollar. The benchmark Korea Composite Stock Price Index rose 10.04 points, or 0.42 percent, to 2,383.18 in the first 25 minutes of trading.Foreigners became net buyers after dumping more than 830 billion won ($725 million) worth of stocks in the past four sessions due mainly to rising tensions between North Korea and the United States over the former's nuclear and missile development programs.&
MarketSept. 29, 2017
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Korea's industrial output up for 2nd month in Aug.
South Korea's industrial output gained ground slightly for the second straight month in August on a rise in output in the chipmaking and electronic sectors, but the uptick was offset by sluggish retail sales and corporate investment, government data showed Friday.Production in the mining, manufacturing, gas and electricity industries climbed 0.4 percent on-month in August, following an adjusted 1.7 percent rise in the previous month, according to the data by Statistics Korea.It is the first time
IndustrySept. 29, 2017
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FTC charges Airbnb with expediency on refund rules
The Fair Trade Commission said Thursday that it decided to charge the Irish office of global lodging giant Airbnb for ignoring the corrective orders on its contractual terms on cancellation penalty.This is the first time that the watchdog is to file a charge against a foreign business operator over noncompliance with the domestic act on the regulation of terms and conditions.In November last year, the FTC ordered Airbnb to correct the damage compensation clause which imposes a 50 percent penalty
IndustrySept. 28, 2017
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Creditors to OK restructuring plan for Kumho Tire Fri
Creditors of Kumho Tire Co. are set to agree on a debt restructuring plan for the financially troubled tiremaker as the company's self-rescue plans failed to meet their expectations, main creditor Korea Development Bank said Thursday. On Sep 12, Kumho Asiana Group submitted a self-help plan for its tire unit to the KDB-led creditors following the collapse of a deal to sell the country's No. 2 tiremaker to China's Qingdao Doublestar. "After reviewing the self-help program, creditors found it
IndustrySept. 28, 2017
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Hyundai tops J.D. Power quality rankings in China
South Korea's top carmaker Hyundai Motor Co. said Thursday it took the top spot in J.D. Power's Initial Quality Study for cars sold in China for a second consecutive year, despite its sales being hit hard by diplomatic rows between the two countries. Hyundai Motor was able to retain its No. 1 position this year due to improved vehicle quality and services, beating 42 competitors, such as Volkswagen Group, Toyota Motor Corp. and Nissan Motor Co., the company said in a statement. Hyundai hopes the
MobilitySept. 28, 2017
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Samsung, SKT stream live video with 4G, 5G
South Korean tech leaders SK Telecom and Samsung Electronics announced Thursday their completion of the world’s first end-to-end network interworking trial of fourth- and fifth-generation networks, which will allow consumers to enjoy immersive media content while driving in the early stages of the commercialization of 5G. The trial took place in the Euljiro area of central Seoul, where SKT is headquartered. A 360-degree virtual reality video clip was streamed live between a user in a traveling c
TechnologySept. 28, 2017
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[ITU 2017] ITU Telecom World ends with 5G in focus
BUSAN -- ITU Telecom World on Thursday wrapped up its four days of exchanges on opportunities and risks stemming from the emergence of new technologies. Thousands of ICT ministers, government officials and business leaders visited the southern port city of Busan to attend the event.The participants of the UN-backed ICT conference also discussed ways to address challenges in the global ICT segment, including the digital divide and the adoption of standards for next-generation networks.At this yea
TechnologySept. 28, 2017
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SK hynix to build W200b R&D center for NAND, future techs
South Korean memory chipmaker SK hynix announced Thursday it will invest more than 200 billion won to build a research and development center for its emerging cash cow NAND in the company’s headquarters in Icheon, Gyeonggi Province. When completed in September 2019, dispersed R&D crews across the Icheon campus will move in to the new center, including researchers and developers of the company’s flagship 3-D NAND chips and future technologies. The new R&D center will break ground next month on ab
TechnologySept. 28, 2017