Most Popular
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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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Debate on 'no-seniors zones' heats up
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Is NewJeans headed for a long 'break'?
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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S. Korea, Cambodia forge strategic partnership
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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What's next for the government's push in quota hike?
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[Advertorial] SK changes up way with new ad campaign
SK Innovation, South Korea’s top oil refinery, recently hosted a unique event, inviting consumers and the press to join its pre-ad production featuring artist Garip Ay of ebru painting.Garip Ay, of Turkey, is a marbling artist who has recreated masterpieces such as Van Gogh’s Starry Night on oily water using ebru, one of the oldest Turkish arts, by sprinkling and brushing color pigments. Turkish artist Garip Ay works on a piece during an event organized by SK Innovation on March 24. (SK Innovat
CompaniesMarch 30, 2017
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[Monitor] Youths glued to YouTube
Those in their teens and 20s use YouTube far more than other age group, a survey by Nielson Korean Click showed, reflecting the younger generation‘s preference towards videos and images.KakaoTalk maintained the top spot among all mobile applications by all age group.
TechnologyMarch 30, 2017
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[Seoul Motor Show] BMW highlights speed, luxury and energy efficient vehicles
BMW Group Korea unveiled the new M760Li xDrive, the fastest model in the company’s flagship 7 Series, and showcased the power of its trademark M Performance driving system at the 2017 Seoul Motor Show on Thursday. For the first time in Korea, the German carmaker exhibited the M760Li xDrive’s V12 M Performance twin-turbo power adder engine, which can reach speeds of up to 304 kph. Delivering up to 602 horsepower, the new luxury sedan can reach 100 kph in 3.7 seconds. The engine time is half a s
MobilityMarch 30, 2017
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Seoul shares tad down on institutional selling
South Korean stocks closed slightly lower Thursday, as institutional investors opted to cash in profits from the recent rally amid a lack of fresh momentum in the market, analysts said. The local currency fell against the US dollar. After starting up some 0.3 percent at the opening bell, the benchmark Korea Composite Stock Price Index soon turned lower, closing down 2.34 points, or 0.11 percent at 2,164.64.Trading volume was moderate at 633.5 million shares worth 4.31 trillion won ($3.84 billion
March 30, 2017
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[Seoul Motor Show] Toyota takes hybrid to next level
Among Toyota’s ambitious lineup for the Seoul Motor Show that is set to kick off Friday, much attention is being geared toward the Korean premiere of the LC500h and Prius Prime.Prius Prime is a plug-in hybrid version of Prius that has drawn Toyota’s hybrid technology and style up to a new level. Prius Prime (Toyota Korea)The model, which had its world premiere at the New York Motor Show last year, is praised for having around a 60 percent better fuel efficiency than the hybrid version. The exter
MobilityMarch 30, 2017
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KT, Hyundai Motor shows home-to-car service
South Korea’s mobile carrier KT demonstrated how homes can be connected with cars in partnership with Hyundai Motor Company at a warm-up event for the Seoul Motor Show on Thursday.KT presented its voice assistant-based GiGA Genie platform to Hyundai Motor’s electric vehicle Ioniq, which enabled remote controlling of the vehicle with a driver’s voice, including starting the engine and searching for a destination.KT's GiGA Genie (KT)GiGA Genie is a voice-controlled home entertainment platform laun
TechnologyMarch 30, 2017
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Naver unveils cognitive self-driving technology, AI infotainment platform
South Korean web portal giant Naver on Thursday unveiled intelligence-based self-driving technologies and an infotainment platform for connected cars at the Seoul Motor Show that is set to kick off Friday.At a press day event held a day prior to the show opening, Naver Labs demonstrated a deep learning-based image recognition technology under works at a 1,000-square-meter booth under the theme of “All Ways Connected, Always Intelligent” at Kintex in Ilsan, Gyeonggi Province. Naver is the country
TechnologyMarch 30, 2017
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Regulator to conduct special audit on Samsung BioLogics
South Korea's financial regulator said Thursday that it will conduct a special audit on Samsung BioLogics Co., a biopharmaceutical unit of Samsung Group, over alleged accounting irregularities.The Financial Supervisory Service made the decision on Wednesday, an FSS official said. (Yonhap)The FSS official, who spoke on the condition of anonymity, said the regulator found "unclear parts" in an audit report of Samsung BioLogics, which was revised by the Korean Institute of Certified Public Account
IndustryMarch 30, 2017
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Think tank ups Korea's 2017 growth estimate
The South Korean economy is likely to grow at a faster pace than previously expected in 2017 on the back of rising exports, a leading private think tank said Thursday.In its latest economic outlook, the Korea Economic Research Institute (KERI) projected Asia's fourth-largest economy to grow 2.5 percent this year, up from its earlier 2.1 percent estimate made in December. (Yonhap)The think tank forecast the South Korean economy to expand 2.3 percent in the first half of this year and 2.7 percent
IndustryMarch 30, 2017
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Korea sets up 100 super charging stations EVs in Q1
South Korea has set up 100 hundred super charging stations for electric vehicles in the firs three months of the year as part of the government-led efforts to expand overall infrastructure for green cars, the energy ministry said Thursday.The total numbers built this year alone is equal to all super charging stations in the country at present, and up from zero in the first quarter of last year, according to the Ministry of Trade, Industry and Energy. This photo, provided by Hyundai Motor Co., sh
MobilityMarch 30, 2017
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Korea increases US dollar share of foreign exchange reserves in 2016
South Korea's central bank said Thursday it increased the portion of US dollar-denominated assets in its foreign exchange reserves in 2016 from a year earlier amid the greenback's strength.The Bank of Korea said that its dollar-denominated holdings accounted for 70.3 percent of its overall foreign reserves at the end of 2016, up from 66.6 percent a year earlier. (Yonhap)"The BOK expanded the portion of US dollar holdings in its portfolio of foreign assets in expectation of a strong US dollar," t
BusinessMarch 30, 2017
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Rates for household loans inch down in February
Bank lending rates on new household loans edged down in February and interest rates paid by banks on new deposits also fell, central bank data showed Thursday.The average interest rates on fresh household loans extended by local banks came to 3.38 percent in February, down 0.01 percentage point from the previous month, according to the Bank of Korea.(Yonhap)The BOK data came amid South Korea's efforts to tackle rising household debt. South Korea's outstanding household credit -- which is compose
March 30, 2017
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Korea's fisheries farming output falls in 2016
South Korea's output from fisheries farms fell slightly last year from a year earlier due mainly to a drop in demand for seafood, government data showed Thursday.Local fishing farms produced 80,151 tons of fishery products in 2016, down 6.2 percent from the previous year's 85,448 tons, according to the data by Statistics Korea.(Yonhap)But the total value edged up 0.9 percent on-year to 904.6 billion won last year on the back of a gain in flatfish prices.The statistics office said seafood consump
IndustryMarch 30, 2017
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Korea to invest 260 bln won in system semiconductor sector
South Korea will invest a combined 260 billion won ($233.1 million) in the system semiconductor sector to develop core technologies and foster experts in the coming four to six years as part of a broader effort to keep up with the fourth industrial revolution, the government said Thursday.The Ministry of Trade, Industry and Energy unveiled the investment plan at a meeting with a group of system semiconductor businesses in Seoul. (Yonhap)The fourth revolution is characterized by many technologie
TechnologyMarch 30, 2017
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Seoul shares down 0.26% in late-morning trade
South Korean stocks snapped earlier gains and turned bearish late Thursday morning, as widening losses in airlines and foodmakers pushed down the main index, analysts said. The benchmark Korea Composite Stock Price Index lost 5.74 points, or 0.26 percent, to move to 2,161.24 as of 11:20 a.m.Shares of Korean Air Lines, the country's top air carrier, tumbled nearly 3 percent, with those of Lotte Confectionery dipping 2.7 percent. LG Electronics, the smaller rival of tech giant Samsung Electronics,
March 30, 2017
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Samsung's Galaxy S8 boasts advanced voice recognition AI agent Bixby
The new Galaxy S8 flagship smartphone unveiled for the first time in New York and London boasts an advanced voice recognition system, dubbed Bixby, which stands out from other existing programs in the market, the phone's manufacturer Samsung Electronics Co. said Thursday.Samsung showcased the Galaxy S8 and the Galaxy S8 Plus, the first flagship series to be launched since the suspended production of the ill-fated Galaxy Note 7 last year, with an emphasis on promoting Bixby. Samsung Electronics C
TechnologyMarch 30, 2017
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Samsung's Galaxy S8 lighter, more compact than LG G6
South Korean companies issued bonds worth 13.8 trillion won ($12.4 billion) last month, up 72.8 percent from a month earlier, data showed Thursday, as they capitalized on record-low interest rates. Sales of debts by non-financial firms more than doubled to 4.9 trillion won last month from a month earlier, according to the data by the Financial Supervisory Service. Samsung Electronics Co.'s Galaxy S8 (Yonhap)Sales of debts by financial firms also shot up 35.9 percent on month to 7.5 trillion won
TechnologyMarch 30, 2017
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Kakao's Internet bank to get final approval on April 5
The Internet bank of Kakao Corp., South Korea's dominant chat app, is expected to win a final regulatory approval early next month, an industry source said Thursday, clearing the final hurdle for Kakao to launch the nation's second Internet bank. The Financial Services Commission will hold a meeting on April 5 to grant the final approval for Kakao's Internet bank, the source said on the condition of anonymity. (Yonhap)An Internet bank offers banking and financial services without any branch netw
March 30, 2017
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Scholars preferred as outside directors amid bribery scandal: data
South Korea's major business groups prefer scholars to retired government officials as outside directors, data showed Thursday, as local companies move to cope with alleged bribery involving former President Park Geun-hye and some conglomerates.As many as 57 out of 126 outside directors appointed by the country's 10 biggest conglomerates this year were professors, according to the data by market researcher Chaebul.com. (Yonhap)The comparable figure for last year was 45 professors, or 33.8 percen
CompaniesMarch 30, 2017
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KDB informs creditors of outcome of due diligence on Daewoo Shipbuilding
The main creditor of Daewoo Shipbuilding & Marine Engineering Co. on Thursday informed private creditors and bondholders of the outcome of due diligence on the troubled shipbuilder, as part of its efforts to persuade them to agree on a debt-for-equity swap.The state-run Korea Development Bank, the main creditor, was holding a meeting with stakeholders of Daewoo Shipbuilding, including the National Pension Service and the Korea Post, to discuss the financial arrangements that have to be undertake
March 30, 2017