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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Starbucks set to post record operating profits in Korea in 2017: sources
Operating profits of Starbucks Coffee Korea are expected to exceed 100 billion won ($88.4 million) this year amid growing popularity of the US coffeehouse chain here, industry sources said Tuesday.The 50-50 joint venture between retail conglomerate Shinsegae and the US coffee giant posted 52.8 billion won in operating profits on 593.5 billion won in sales during the first six months this year.It is the first time Starbucks recorded over 50 billion won in operating profits since it opened its fir
IndustrySept. 12, 2017
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Korea aims to export more than $1b worth of seaweed annually by 2024
South Korea said Tuesday that it aims to export more than $1 billion worth of seaweed products annually by 2024 as part of its effort to diversify its overseas shipment portfolio.According to the report submitted to the Cabinet, the Ministry of Oceans and Fisheries said the country is expected to ship 380,000 tons of dried laver and other seaweed products in 2024, up from the 250,000 tons -- worth $350 million -- sold overseas in 2016.Dried laver, called "gim" in Korean, is usually roa
EconomySept. 12, 2017
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Seoul stocks open higher on US gains
South Korean stocks opened higher Tuesday, taking a cue from overnight Wall Street gains.The benchmark Korea Composite Stock Price Index rose 8.17 points, or 0.35 percent, to 2,367.25 in the first 15 minutes of trading.Market kingpin Samsung Electronics was up 0.28 percent, while SK hynix, a major chipmaker, gained 0.54 percent.Hyundai Motor, the No. 1 automaker, climbed 0.74 percent, while AmorePacific, the country's top cosmetics maker, advanced 0.95 percent.The local currency was trading at 1
MarketSept. 12, 2017
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Nearly 40% of province-based public agency staff live alone
Nearly 40 percent of workers at public institutions based in provincial cities in South Korea live away from their families, a report said Tuesday, while calling for measures to help more live with their families.A decade ago, South Korea designated 10 "innovation cities" across the nation and relocated the headquarters of 115 public organizations to those cities to promote balanced regional growth.According to the report from the office of Rep. Song Ki-heon of the ruling Democratic Pa
EconomySept. 12, 2017
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Korea's tax revenue continues to grow in 2017
South Korea's national tax revenue continued to grow in the first seven months of 2017 amid a steady growth pace of Asia's fourth-largest economy, the finance ministry said Tuesday.The government collected 168.7 trillion won ($149.2 billion) in taxes in the January-July period, up a solid 13.4 trillion won from a year earlier, according to the Ministry of Strategy and Finance.The amount collected is equal to 67.2 percent of this year's tax revenue target of 251.1 trillion won, including some 11
EconomySept. 12, 2017
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Foreign investors turn to net sellers of Korean stocks in August
Offshore investors turned to net sellers of South Korean stocks in August, official data showed Tuesday, marking the first monthly outflows in eight months amid worries about North Korea's nuclear and missile provocations. Foreign investors sold a net 2.4 trillion won ($2.12 billion) worth of local stocks last month, according to the data by the Financial Supervisory Service.Investors from the US, Singapore and Britain were among net sellers of local stocks last month, the data showed. 
MarketSept. 12, 2017
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Kumho prepares fateful plan to buy back tire unit
The fate of Kumho Tire, the nation’s second-largest tiremaker, hangs in the balance as Kumho Asiana Chairman Park Sam-koo has prepared a management plan to be submitted to creditors on Tuesday to persuade them to keep him on board as top brass, and to open another opportunity to buy back the beleaguered tire company.Creditors of the tire company led by Korea Development Bank have asked Park to submit a proposal to revive the flailing finances of the tire company, which saw a 50.7 billion won ($4
IndustrySept. 11, 2017
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Hyundai, Kia suspend US plants to avoid damage from Irma
Hyundai Motor Co. and its affiliate Kia Motors Corp., South Korea's two biggest carmakers, will temporarily shut down their plants in the United States to avoid any damages from Hurricane Irma, the companies said Monday.Hyundai Motor will suspend operation of its Alabama plant for two days from 4:45 a.m. on Sept. 12 (US time) and Kia Motors will also stop operation of its Georgia plant for one day from 6:45 a.m. on Sept. 11, a company spokesman said over the phone. The plants will be suspended a
MobilitySept. 11, 2017
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[Monitor] Spending soars on health care
Private spending on health-related items and services surged drastically among households in South Korea, surpassing 10 trillion won ($8.86 billion) for the first time in the second quarter this year, data from the Bank of Korea showed Monday.It was a 4.8 percent increase from the previous quarter.The health care spending includes hospital fees not covered by health insurance. Spending on health care has nearly doubled in the past decade, from 5.24 trillion won in the same quarter of 2007, a tre
IndustrySept. 11, 2017
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LIG Nex1 steps up Europe advancement
LIG Nex1, a South Korean defense company participated in the Miedzynarodowy Salon Przemysly Obronnego 2017 held in Poland last week, as part of its efforts to step up its foray into the European market. The exhibition, which took place in Targi Kielce Exhibition & Congress Center in Kielce, Poland on Sept. 5-8, was a first for LIG Nex1, which the company believes will be a significant milestone in tapping the global defense market. Norwegian Defense and Security Industry Association President To
IndustrySept. 11, 2017
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UNSC’s vote on NK to pose little impact on stocks: analysts
A vote by the United Nations Security Council to implement further sanctions on North Korea would have limited impact on South Korea’s stock market, analysts here said Monday, amid signs of geopolitical risks abating on the market.The stock market in Korea bounced back from Friday losses. The first-tier Kospi closed at 2,359.08, up 0.66 percent, while the secondary Kosdaq rose 0.34 percent.Shares of tech giants and financial sectors saw an upturn. Handset maker Samsung Electronics jumped 1
MarketSept. 11, 2017
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Korea’s export industry outperforming domestic businesses: BOK
Despite ongoing disparities in Korea’s export market concerning China’s business blackballing tactics and continued ambiguity regarding the Korea-US Free Trade Agreement, the BSI for the export industry reached 84 points last month, according to the Bank of Korea’s Business Survey Index on Monday. The index shows that the export industry outperformed domestic companies by nine points. The BSI is an economic indicator compiled to grasp business conditions for the current month
EconomySept. 11, 2017
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S. Korean economic prospects bright despite external challenges: IMF chief
Christine Lagarde, managing director of the International Monetary Fund, on Monday expressed optimism on South Korea’s economy for the upcoming years, despite external challenges including the North Korean military provocations.While assenting to President Moon Jae-in’s economic drive for inclusive growth, the IMF chief also raised some concerns that the nation’s structural reform should take guard against overpacing.“(The IMF) has a good and strong impression on the Kore
EconomySept. 11, 2017
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Seoul stocks end higher on institutional buying
South Korean stocks closed higher Monday as institutional buyers scooped up large-cap tech shares, recouping last week's losses sparked by concerns over North Korea's nuclear provocations. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index advanced 15.36 points, or 0.66 percent, to close at 2,359.08. Trade volume was low at 238 million shares worth 4.8 trillion won ($4.3 billion), with losers outnumbering gainers 416 to 396.Institutions purchased a net 345.
MarketSept. 11, 2017
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THAAD reprisals undermine China FTA
China has shown no hesitation in disregarding its obligations under the free trade agreement with South Korea to take retaliatory measures against the deployment of a US missile defense system here.This behavior is reinforcing the perception that Beijing cannot be expected to abide by international norms, such as the separation of politics from economic affairs, when it feels the need to advance or defend its interests.China is threatening to intensify retaliation against South Korea after addit
EconomySept. 11, 2017
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Korean banking giants lag behind in global capital standard
South Korean banks failed to make it into the global top tier in capital volume last year, data showed Monday.According to an estimate by Korea Ratings, none of the country’s banking groups were among the top 60 in terms of core capital as of the end of 2016.Five banking groups -- KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Bank and the state-run Korea Development Bank -- were part of the top 100, but none made it on the top 50 list.The estimate was based on a
MarketSept. 11, 2017
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[Newsmaker] Korea’s FTC head faces flak for calling Naver founder ‘visionless’
The chief of South Korea’s antitrust watchdog, who built his reputation as a “chaebol sniper,” is facing flak from local IT industry leaders after calling Naver founder Lee Hae-jin a figure who “lacks vision for the future,” unlike Apple founder Steve Jobs. Fair Trade Commission Chairman Kim Sang-jo criticized the Naver founder, who he had recently met over the Korean internet giant’s listing on a new corporate watch list, in a recent interview with local newspaper Kookmin Ilbo. “A company of
TechnologySept. 11, 2017
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American Airlines appoints new head in Korea
American Airlines appointed Jang Eun-seok to head its business unit in Korea, the company said Monday. The US air carrier has operated its local business office here since 2013, starting with its nonstop flight between Incheon Airport and Dallas-Fort Worth International Airport in the US. Early this year, the company also started to fly new Boeing 787-9 aircrafts for its routes to Korea.“It is my great pleasure to lead the local unit of the world’s biggest airline company, said Jang. “I will try
IndustrySept. 11, 2017
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BAIC pressuring Hyundai seen as intended to foster parts unit: report
Hyundai Motor’s headquarters in southern Seoul (Hyundai Motor Group)The latest reports on BAIC Motor hinting that the company might end its joint venture with South Korea’s Hyundai Motor appear to be part of a plan to foster the Chinese company’s parts making unit, a local analyst suggested Monday.Lee Jae-il, an analyst in charge of automobiles at Eugene Investment & Securities, said in a report that there also has been a recent change in the Chinese government’s approach to the auto market and
MobilitySept. 11, 2017
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Renault Samsung launches upgraded SM5 sedan without price hikes
Renault Samsung Motors Corp. has launched an upgraded SM5 sedan but didn't raise the price in order to boost sales, the company said Monday.The SM5 midsize sedan powered by a 2.0-liter gasoline engine has been a long-running best seller for the South Korean unit of French carmaker Renault S.A. in the past 20 years. The SM5 is priced at 22 million won ($19,500) in the domestic market. Renault Samsung Motor`s upgraded SM5 sedan (Photo courtesy of Renault Samsung) (Yonhap)Last week, Renault Samsun
MobilitySept. 11, 2017