Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Robert J. Fouser] Social attitudes toward language proficiency
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[Graphic News] How much do Korean adults read?
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Hankook Tire net jumps near 30% in 2016
South Korea's leading tire maker Hankook Tire Co. said Friday its net profit jumped nearly 30 percent from a year earlier in 2016, helped by a slight increase in sales and an apparent drop in costs.Net profit came to 853 billion won ($743.5 million) last year, up 29.9 percent from the previous year, the company said in a regulatory filing. (Yonhap)Sales gained 3.1 percent on-year to 6.63 trillion won, while operating profit spiked 24.7 percent to a little over 1.1 trillion won.In the fourth quar
IndustryFeb. 3, 2017
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[Weekender] The dangers of caffeine addiction
It is a well-known fact that Koreans love coffee. The dependence on caffeine to get though the day is spread among all age groups -- even teenagers reach for energy drinks to help them survive a stressful day of studying. However, such habits come at a cost.Research conducted by the Korea Consumer Agency revealed that approximately 60 percent of students that consumed energy drinks with a high caffeine content suffered various side effects.The intake of caffeine irritates the linings of the smal
IndustryFeb. 3, 2017
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[Weekender] A history of coffee in Korea
The history of caffeination in Korea is long and winding, beginning with a tragic king who became the country‘s first coffee lover while fleeing in wartime. After decades of serving as a vehicle of socialization at coffee shops, coffee moved into offices and homes with the introduction of instant coffee mixes. People went back out to coffee shops to get their java once Western-style takeout cafes were introduced and now coffee is coming back into the home with small, inexpensive espresso machine
IndustryFeb. 3, 2017
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[Weekender] Korea, caffeinated
Daniel Kim, a 26-year-old banker, is not a morning person.“I have a hard time getting my system started in the morning. So I always drop by this small cafe for a cup of large Americano on my way to the bus station,” Kim said.Choi Yoo-rim, a 17-year-old high school student, is an avid Red Bull drinker.“I can’t go a day without a Red Bull. It’s like the best invention ever. I can focus on my studies without dozing off. Getting good grades is really important for me right now, so I’ll worry about t
IndustryFeb. 3, 2017
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[Photo News] Dream performance
Students sponsored by LG Display introduce themselves at a performance staged at the Paju factory of the display provider in Gyeonggi Province on Friday. Since 2012, the company has supported a total of 74 students with talents in arts, music and engineering with about 500 million won. (LG Display)
TechnologyFeb. 3, 2017
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SK Innovation's 2016 net almost doubles on petrochemical biz, refining margin
SK Innovation Co., South Korea's top oil refiner, on Friday said its earnings nearly doubled last year from a year earlier, thanks to better-than-expected results from its petrochemical business and expanded refining margin.Net profit stood at 1.72 trillion won ($1.49 billion) last year, compared with a profit of 868 billion won a year earlier, the company said in a regulatory filing. (Yonhap)Operating income surged 63 percent on-year to reach a record 3.23 trillion won, while sales sank 18.3 pe
IndustryFeb. 3, 2017
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Lotte's board defers final decision on land exchange for THAAD
Lotte Group, which is to provide the site for South Korea to host an advanced US missile defense system, on Friday deferred a final decision on accepting a government-proposed land exchange.Group officials said the board of directors for Lotte International, the owner company of the golf course picked as the site, met for two hours to review exchanging the lot for land near Seoul. There was no decision from the meeting, they said. There was also no announcement of a second meeting. (Yonhap)"The
IndustryFeb. 3, 2017
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SKT profit tumbles 10 percent on slowing growth
South Korea’s No.1 mobile carrier SK Telecom’s operating profit tumbled around 10 percent last year due to soaring costs amid a sluggish growth in the telecommunication industry, according to its corporate earnings announcement on Friday. SKT reached 17.09 trillion won ($14.9 billion) in revenue on a consolidated basis in 2016 and 1.54 trillion won in operating profit. While the revenue slipped 0.3 percent on-year, the profit slid 10.1 percent, reflecting a rise in depreciation expenses incurred
TechnologyFeb. 3, 2017
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Asiana Airlines swings to black in 2016
Asiana Airlines Co., South Korea's No. 2 flag carrier, said Friday that it swung to the black last year with its operating profit surging more than fivefold from a year earlier, aided by low oil prices and cost-cutting efforts.Net profit came to 54.3 billion won ($47.3 million) in 2016, a turnaround from a loss of 139.2 billion won in the previous year, the company said in a regulatory filing. (Yonhap)Sales gained 4.5 percent on-year to 5.79 trillion won, but operating profit spiked 444.5 percen
IndustryFeb. 3, 2017
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Korea launches probe on P&G diapers for toxic chemicals
The South Korean government on Friday began a safety probe on diapers from Proctor & Gamble after allegations arose that they contain toxic chemicals.The Korean Agency for Technology and Standards is taking action on rising fears at home after French media reported that the diapers had dioxin, an insecticide substance. (Yonhap)"We will investigate if there are actually toxic chemicals, and if so, how dangerous they are," an agency official said. The agency will randomly take samples of the prod
IndustryFeb. 3, 2017
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Green Cross posts record revenue of W1.19tr
South Korean biopharmaceutical company Green Cross said Friday that it posted a record high revenue of 1.19 trillion won ($1.04 billion) in 2016, up 14.3 percent from the year before. However, the company said its operating profit dropped 14.4 percent on-year to 78.5 billion won, mainly due to increased spending on research and development. Its 2016 net profit reached 65.2 billion won, down 31.9 percent from 95.7 billion posted the previous year, according to the company.Green Cross credited it
IndustryFeb. 3, 2017
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Samsung, Japan's Murata in discussion over batteries for Galaxy S8
Samsung Electronics Co. has been in discussions with Murata Manufacturing about whether the Japanese company could supply batteries for Samsung's next flagship GalaxyS8 smartphone, an industry source said Friday. (Yonhap)The Galaxy S8 smartphone will replace Samsung's Galaxy Note 7, which was discontinued last year due to battery problems that caused some of the devices to catch fire. The discussions between Samsung and Murata recently took place, according to the source. After a months-long pr
IndustryFeb. 3, 2017
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Investment guru under probe for alleged stock price manipulation
South Korea's prosecutors are investigating alleged stock price rigging involving a local investor, known for his stellar investment records on the secondary KOSDAQ market, sources at the financial industry said Friday.The prosecutors are tracking the man, only identified as his surname Won, after securing an arrest warrant from a Seoul court. A file photo of the KOSDAQ index (Yonhap)He is suspected of having taken huge profits by manipulating the share price of Homecast Co., a set-top box maker
Feb. 3, 2017
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Online shopping in Korea hits record high in Dec.
Online shopping in South Korea reached a fresh record high in December on the back of a steady upbeat trend of buying goods through computers and mobile phones, government data showed Friday.Total online transactions reached a record 6.2 trillion won ($5.4 billion) in December, up 15.4 percent from a year earlier, according to the data compiled by Statistics Korea. (Yonhap)It marked the highest monthly amount of online purchases, breaking the earlier record of 6.1 trillion won set in the previou
IndustryFeb. 3, 2017
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KT to showcase virtual reality luge at tech show in Spain
KT Corp., a South Korean telecom company, will showcase virtual reality luge at this month's annual technology fair in Spain, an industry source said Friday. The event appeared to be aimed at drumming up a marketing campaign for KT's technology ahead of the 2018 PyeongChang Winter Olympics, in which luge is a sport. (Yonhap)With a virtual reality headset, the device allows visitors to enjoy the sport of luge.KT also plans to introduce virtual reality contents on K-pop during the Mobile World Co
IndustryFeb. 3, 2017
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Kakao Corp. to open map tool to game developers
Kakao Corp., an internet company that operates the country's top mobile messenger KakaoTalk, said Friday it will provide its map tools to local game developers from the first half of this year to help them produce a megahit like Pokemon Go.The move was disclosed by Namkoong Whon, the company's chief game officer, through Facebook. Namkoong Whon, chief game officer at Kakao Corp. (Yonhap file photo)Kakao "will provide the software development kit so that the developers can use Kakao Map to more
TechnologyFeb. 3, 2017
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Govt. under fire for losing policy control
The government is facing criticism for losing control of major policies amid a political maelstrom stemming from the impeachment of President Park Geun-hye over a corruption scandal in December, analysts said Friday.As if defying a government vow to rein in inflation, businesses are scrambling to jack up product prices. Also, the government has irked small merchants and self-employed people by requiring them to stick to stricter rules on the safety of electric appliances and daily goods. People
Feb. 3, 2017
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Top court clears railway strike leaders of obstruction charges
South Korea's top court on Friday upheld a lower court's decision to exonerate four former railway union leaders from charges of obstruction of business in connection with the 2013 railway strike against the privatization of railway services.The defendants, including Kim Myung-hwan, former chief of the Korean Railway Workers' Union, were indicted and detained in February 2014 on charges of disrupting railway operations by leading an illegal strike for 23 days in December 2013. (Yonhap)The bone o
IndustryFeb. 3, 2017
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Illegal private lending on rise amid economic slump
A growing number of South Koreans are seeking help from the state financial watchdog for damages caused by loan sharks amid a prolonged economic slump, official data showed Friday.A total of 2,306 relevant cases were reported to the Financial Supervisory Service last year, up 89 percent from a year earlier. The FSS operates a call center for damages due to illicit private finance.A composite photo of bank lending and leaflets on private loans. (Yonhap)Unregistered loan sharks usually target cash
Feb. 3, 2017
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Watchdog to release info on price-fixing cases
South Korea's antitrust watchdog will make public a set of data on price comparison regarding price-fixing cases to help customers take legal action, government officials said Friday.The information contains data on prices before and after suspected companies engage in price collusion collected by the Fair Trade Commission, according to the officials. (Yonhap)Customers who seek compensation from the price-rigging practices can submit the price comparison data as powerful evidence to the court, t
Feb. 3, 2017