Most Popular
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Do Korean doctors make too much money?
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Korean industries gauge impact of Biden's steep tariffs on China
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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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Is FTC's conglomerate listing a boon or bane for Hybe?
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NewJeans to headline palace show
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Coupang's Kim Bom escapes chaebol chief designation again
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Debate on 'no-seniors zones' heats up
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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S. Korea, Cambodia forge strategic partnership
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Korea's int'l air passenger traffic jumps 12.1% in Jan.
South Korea's international air passenger traffic jumped 12.1 percent from a year earlier last month, helped by a sharp increase in passengers to and from Japan and other Asian countries, the government said Monday.International air passengers to and from the country came to about 6.96 million in January, compared with 6.21 million in the same month last year, according to the Ministry of Land, Infrastructure and Transport. (Yonhap)Air passengers between South Korea and Japan spiked 19.7 percent
Feb. 27, 2017
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Korea's retail sales up 8.3% in Jan.
Sales of major South Korean retailers soared in January from a year earlier on strong sales by convenience stores and big chain supermarkets, government data showed Monday.The combined sales of department stores, large outlets and online malls gained 8.3 percent last month, snapping a three straight monthly drop since October last year, according to the data by the Ministry of Trade, Industry and Energy. (Yonhap)The ministry said the growth in sales was driven by brisk sales of convenience stor
Feb. 27, 2017
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Teaser shows Samsung will debut Galaxy S8 on March 29
A teaser video released by Samsung Electronics Co. showed Monday that its new flagship Galaxy S8 smartphone will be unveiled on March 29 in New York. Announcing the date of the new smartphone at the annual Mobile World Congress event in Barcelona, Samsung also said the S8 smartphone will offer a high-quality earphone featuring Harman's AKG technology. The earphone would become the first cooperative project between Samsung and Harman since the Korean electronics giant acquired the US audio and au
TechnologyFeb. 27, 2017
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Korea's crude oil imports up 5.1% in 2016
South Korea's imports of crude oil climbed 5.1 percent last year from a year earlier driven by a surge in inbound shipments of Iranian oil following the removal of international trade sanctions on the Middle Eastern country, government data showed Monday. The combined inbound purchase of crude oil reached 1.78 billion barrels at the end of December, compared with 1.26 billion barrels the previous year, according to the Ministry of Trade, Industry and Energy. (Yonhap)The import of petroleum prod
Feb. 27, 2017
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Samsung chief tops ranking of dividend income earners
Lee Kun-hee, the ailing chief of South Korea's top conglomerate Samsung Group, again topped the ranking of dividend income earners, data showed Monday. Dividend payouts to Lee, chairman of the group's flagship Samsung Electronics Co., stood at 189.9 billion won ($167.6 million) so far this year, according to the data compiled by market tracker FnGuide. (Yonhap)Lee, who owns a 3.5 percent stake in Samsung Electronics, is set to earn 137.1 billion won in dividends from the electronics giant.Hyunda
IndustryFeb. 27, 2017
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KAI extends parts supply deal with Airbus
Korea Aerospace Industries Ltd. said Monday it has agreed with Airbus of the United Kingdom to extend a contract to supply wing parts for five more years until the end of 2030. South Korea's sole airplane manufacturer had contracted to provide wing panels for the A320 passenger carrier until the end of 2025. (Yonhap)The company said in a statement the two sides signed a revised deal for a five-year extension, estimated to be worth 381.15 billion won ($336 million).KAI won the $600 million deal i
IndustryFeb. 27, 2017
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Local drug firms largely managed by young owners
Young owner members of major South Korean pharmaceutical manufacturers, such as sons and grandsons of company founders, are on the fast track to management positions, industry sources said Monday. Lim Jong-hoon, third son of Hanmi Pharmaceutical Chairman Lim Sung-ki, is set to be registered as a member of the board of directors during the shareholder meeting scheduled for March 10, the sources said.(Yonhap)Lim Jong-hoon, 40, who has so far served as the company's director, will join the manageme
IndustryFeb. 27, 2017
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SMEs have trouble hiring workers amid high youth unemployment
Despite South Korea's high youth unemployment, local smaller firms are struggling to hire new workers as young job seekers prefer higher-paying jobs at big businesses, financial firms and state-run companies, data showed Monday.According to a survey conducted by the Korea Small Business Institute in 2015, more than 80 percent of local small and medium enterprises replied they were facing troubles in recruiting workers.This photo, taken on Nov. 28, 2016, shows job seekers pack the site of a job f
IndustryFeb. 27, 2017
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Korea's market cap ranked 15th in 2016
South Korea's stock market capitalization was ranked 15th in the world last year, down one notch from a year ago, according to the nation's stock market operator on Monday.The nation's market cap rose 4.1 percent on year to $1.28 trillion at the end of 2016, data by Korea Exchange showed.(Yonhap)Last year, global stock market capitalization gained 4.5 percent on year to $70.1 trillion at the end of last year, according to the data. Buoyed by solid economic growth and expectations about US Presid
Feb. 27, 2017
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GM Korea VP to lead organization for women leadership
Hwang Jina (WIN)GM Korea Vice President Hwang Jina was inaugurated as the chairwoman of Women in INnovation, a local organization aimed at strengthening women’s leadership in business, the organization said Thursday.Hwang replaces Sohn Byoung-ok, CEO of Prudential Life Korea who led WIN for the past 10 years. WIN is a nonprofit organization under the Ministry of Gender Equality and Family. GM Korea Vice President Hwang Jina (center, left) shakes hands with Sohn Byoung-ok, the CEO of Prudential L
IndustryFeb. 27, 2017
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Per capita rice consumption forecast to hit fresh low in 2017
South Korea's per capita rice consumption is forecast to hit a new low in 2017 due to people's changing eating habits, a report showed Monday.The average annual consumption of rice per person is likely to reach 59.6 kilograms this year, compared with 61.9 kg a year earlier, according to the report by the Korea Rural Economic Institute.(Yonhap)It will mark the first time for the country's per capita rice consumption to fall below the 60-kg mark. It will also be equal to 40 percent of the record h
Feb. 27, 2017
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Banks' daily FX turnover down 0.1% in 2016
The daily foreign exchange turnover by local and foreign banks in South Korea dropped 0.1 percent in 2016 from a year earlier, the central bank said Monday.The daily FX turnover averaged $48.38 billion in 2016, down from $48.43 billion in 2015, according to the Bank of Korea.(Yonhap)The daily trading volume of foreign exchange spots reached $19.43 billion in 2016, down 2.7 percent from a year earlier.By currency type, the daily dollar-won trading volume came to $14.52 billion in 2016 while the d
Feb. 27, 2017
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Google assistant goes beyond the pixel to take on Apple's Siri
Five months after introducing its digital assistant, Google is sharing the feature with Android partners, hoping the service can boost its odds to win customers from Apple Inc.'s iPhone. Alphabet Inc.'s Google is making its intelligent assistant -- a service that answers queries, plays music and completes tasks -- available for smartphones using the two newest versions of its Android software. It's showcasing the service with a closer partnership with LG Electronics Co. announced Sunday at the M
TechnologyFeb. 26, 2017
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New LG phone influenced by Samsung's Note 7 troubles
NEW YORK (AP) -- Samsung's fiasco with its fire-prone Note 7 phone has pushed its rival LG to take additional precautions with its next smartphone.Samsung recalled millions of Note 7 phones after dozens overheated and caught on fire . Samsung blamed numerous problems with its batteries and announced tighter quality controls and more rigorous testing. LG G5 (Yonhap)LG said it's doubling the separation between the battery's positive and negative chambers to reduce the risk of a short. Samsung's in
TechnologyFeb. 26, 2017
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Sharp vision: New glasses help the legally blind see
SAN FRANCISCO (AP) -- Jeff Regan was born with underdeveloped optic nerves and had spent most of his life in a blur. Then four years ago, he donned an unwieldy headset made by a Toronto company called eSight.Suddenly, Regan could read a newspaper while eating breakfast and make out the faces of his co-workers from across the room. He's been able to attend plays and watch what's happening on stage, without having to guess why people around him were laughing. (eSight)"These glasses have made my l
TechnologyFeb. 26, 2017
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US business leaders in Korea to visit Washington in May
The American Chamber of Commerce in South Korea said Sunday its delegation plans to visit Washington in May for talks with US officials and policymakers on trade issues with South Korea.The annual doorknock delegation is meant to inform US officials of the effects of the free trade deal between South Korea and the United States and to explain Seoul's deregulation campaign, it said. (123RF)The free trade deal, which went into effect in 2012, has widely been considered a symbol of the economic all
IndustryFeb. 26, 2017
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LG unveils larger, Google AI-powered G6
LG Electronics unveiled its latest flagship smartphone G6 equipped with a larger display and Google’s machine-learning software, stealing the spotlight on the eve of the Mobile World Congress that kicks off in Barcelona on Monday. The archrival of South Korea’s top smartphone maker strategically launched its newest model, taking advantage of the postponed release of Samsung’s Galaxy S8 series. LG’s latest smartphone was released at Sant Jordi Club in the southern part of the city, with ab
TechnologyFeb. 26, 2017
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CJ gears up for chairman’s return
South Korea’s food and entertainment giant CJ Group is set to expand investments and speed up its delayed plans to tap more markets around the world by carrying out a personnel reshuffle in March, the group said Sunday, hinting at chairman Lee Jay-hyun’s return to management. “Sales grew slightly last year but the group’s sales remained at 20-something trillion won for the last three or four years,” an official at CJ Group said. “We need to spur growth in or
CompaniesFeb. 26, 2017
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SsangYong partners Posco for safe, high performance SUV
SsangYong Motor has partnered with South Korea’s largest steelmaker Posco to roll out a premium sport utility vehicle that boasts safety and performance. The tie-up between the two firms was highlighted at the SUV Tech Forum, organized by SsangYong and Posco in Seoul on Friday, with industry experts in attendance. Slated for launch in May, SsangYong’s upcoming SUV Y400 uses Posco’s advanced high-strength steel for its vehicle frames. “Posco has researched and developed light yet safe steel pr
IndustryFeb. 26, 2017
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[Health-tech Korea] Korea's Healcerion introduces ‘next stethoscope’
The Korea Herald is publishing a series of articles highlighting South Korea’s promising start-ups in the emerging sectors of digital healthcare and next-generation medical devices. This is the second installment. –Ed.In the medical world, the stethoscope -- used to listen to the internal sounds of the human body -- has long been a symbolic tool for doctors. But a Seoul-based startup has come up with a pocket-sized ultrasound imaging device that connects to smartphones and tablets, in the hope t
TechnologyFeb. 26, 2017