Most Popular
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Court refuses injunction on medical school expansion
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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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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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[Robert J. Fouser] Social attitudes toward language proficiency
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Naver’s Papago to help police communicate with foreigners
South Korean internet giant Naver said Wednesday that it has entered a partnership with the Seoul Metropolitan Police Agency, agreeing to help the public agency communicate more effectively with non-Korean speakers. The two have signed a memorandum of understanding, under which Naver has introduced a new section on its translation app Papago that provides translations of common Korean phrases that the local police use to carry out their duties.(Naver)Launched in August 2016, Naver’s Papago is a
TechnologyFeb. 1, 2017
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Seoul-based automakers‘ global sales fall 1.2% in January
Global sales of cars produced by five South Korea-based automakers shrank slightly from a year earlier in January due to a decline in overseas sales and a slump in domestic sales, data released by the carmakers showed Wednesday.The combined global sales of the five automakers came to 618,930 cars last month, down 1.2 percent from a year earlier, according to the data. (Yonhap)The January tally marks a decline for two consecutive months on a year-on-year basis. In December, the automakers' sales
IndustryFeb. 1, 2017
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7 out of Seoul's 10 most expensive houses located in Itaewon
Seven out of the 10 most expensive houses in South Korea are located in the popular foreigner-heavy neighborhood of Itaewon in the heart of Seoul, government data showed Wednesday.Among them, Lee Myung-hee, chairwoman of South Korea's retail giant Shinsegae Group, owns the most expensive house, according to the survey by the Ministry of Land, Infrastructure and Transport. This file photo shows the house of Lee Myung-hee, chairwoman of South Korea's retail giant Shinsegae Group. (Yonhap)Lee's 2,8
Feb. 1, 2017
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Hyundai Motor's global sales for January edge up 1.3% on-year
South Korea's largest carmaker Hyundai Motor managed a 1.3-percent increase in global sales in January from a year ago, the company said Wednesday, while its performance at home slackened. Hyundai sold 342,607 cars in the month, including 297,507 overseas and 45,100 domestically. The figures represent a 3.1-percent hike for overseas but a 9.5 percent slide at home. Of the cars sold abroad, 56,200 were manufactured in the country and 241,307 out of the country. Hyundai's new Grandeur (Hyundai Mot
IndustryFeb. 1, 2017
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Kia Motors' sales drop on-year in January at home, abroad
Kia Motors suffered on-year sales drops both at home and abroad in January, the company said Wednesday, citing aged models and lost production from holidays as the main reasons.Sales at home totaled 35,012 cars for the month, down 9.1 percent from the same month last year, according to the country's second-largest carmaker. Overseas sales came to 163,793 cars, down 6.5 percent from a year earlier. Kia's global sales in January fell 7 percent on-year to 198,805 units.The number of factory working
IndustryFeb. 1, 2017
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‘Lack of savings limit monetary easing effect on consumption’
A member of the Bank of Korea’s monetary policy committee said a shortage in Korea’s accumulated savings in the past decade seems to have limited the central bank’s current monetary easing effect on consumption.“While we have to prepare for aging, it seems that our accumulated savings (since the 1997 Asian financial crisis) have been in shortage. This could be the reason why boosting consumption through monetary easing did not work normally as we expected,” Lee Il-houng, one of seven member of t
Feb. 1, 2017
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Business tycoons to testify at court over influence-peddling scandal
The heads of South Korea's leading conglomerates will attend a court hearing later this month to give testimony over a high-profile influence-peddling scandal that has led to President Park Geun-hye's impeachment, legal sources said Wednesday.Hanwha Group Chairman Kim Seung-youn, SK Group Chairman Chey Tae-won and Hanjin Group Chairman Cho Yang-ho have been designated witnesses to testify at the hearing on President Park's friend Choi Soon-sil at the Seoul Central District Court on Feb. 28, acco
IndustryFeb. 1, 2017
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Korea's trade agency hires US lobbying firm for Trump govt.
South Korea's state-funded trade agency has signed a contract with a US lobbying company to deal with the Donald Trump era, officials said Wednesday.Ever since Trump has stated his protectionist policies, a sense of alarm has grown here over trade pressure from the new US administration. Kim In-ho, chairman and CEO of the Korea International Trade Association, in a photo provided by KITA (Yonhap)"(We) recently inked a contract with the US lobbying firm K&L Gates," an official at the Korea Intern
Feb. 1, 2017
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Renault Samsung's January sales up 34.8%
Renault Samsung Motors Co. said Wednesday it sold 20,256 cars in January, up 34.8 percent from the same month last year, pushed by strong sales at home.The company, which is the local unit of French automaker Renault S.A., sold 7,440 units in the domestic market, 254.1 percent higher than January of last year despite production days lessened by the Lunar New Year holidays that fell at the end of the month. The company said the January performance is the second highest for the month after 2011, w
IndustryFeb. 1, 2017
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Ssangyong Motor's January sales up 3.4% on-year as Tivoli rolls on
Ssangyong Motor Co.'s January sales increased 3.4 percent on-year to 10,420 cars on strong domestic sales, with its popular SUV Tivoli taking the lead, the automaker said Wednesday.Domestic sales accounted for 7,015 units, up 6.8 percent, and exports 3,405, down 3 percent from same month last year. The company said the overall sales increase came despite negative factors such as less number of working days from the Lunar New Year holiday and the end of the grand sale period. Crossover SUV Tivoli
IndustryFeb. 1, 2017
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GM Korea's January sales down 4.8% on-year
GM Korea Co. said Wednesday it sold 46,842 cars in the month of January, 4.8 percent less than a year ago although its local sales increased by some 25 percent. The Minicar Spark, the mid-sedan Malibu and the crossover SUV Trax led the overall sales, according to the South Korean unit of U.S. automaker General Motors Co. The company sold 3,564 units of the Malibu, up 581.5 percent from January last year, while the Trax sales were also up 162 percent to 1,436 units. Malibu from GM Korea (GM Kor
IndustryFeb. 1, 2017
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Financial watchdog to address unfair auto lease contract terms
Consumers here will shoulder less financial burden for canceling car lease contracts under the related authorities' drive to address unfair business practices, the state financial watchdog said Wednesday.The number of people leasing cars instead of buying ones has been on a constant rise. Consumers' complaints have increased as well. A file photo about leasing a car (Yonhap)A total of 192 civilian petitions related to car leases were filed with the Financial Supervisory Service last year, up fro
Feb. 1, 2017
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Incheon Airport opens to T2 duty-free bids
Incheon International Airport Corp. said Wednesday it has officially begun accepting bids for duty-free operators hoping to open stores in its second terminal, which is set to open later this year.The call for bids comes about three months later than initially planned, in the midst of tensions between the airport and the Korea Customs Service about the way in which licenses are granted.“We could not hold off any longer on the bids. If we do not choose the operators by April, we may face a crisis
IndustryFeb. 1, 2017
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Dongwha Duty Free may be up for sale
Doubts are growing over the future of Dongwha Duty Free, as industry speculation grows that it is unlikely to meet an extended debt repayment deadline amid heated competition among duty-free stores in central Seoul.The country’s first downtown duty-free store, which opened its doors in 1973, is currently in crisis, as it has failed to meet a December deadline to pay back Hotel Shilla in a put option. (Yonhap)In May 2013, Hotel Shilla acquired a 19.9 percent stake in Dongwha Duty Free with a put
IndustryFeb. 1, 2017
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Mercedes-Benz takes students to German headquarters
Select students of Mercedes-Benz’s Mobile Academy visit the Mercedes-Benz headquarters in Stuttgart, Germany. (Mercedes-Benz Korea)Select students from the annual Mercedes-Benz Mobile Academy won the opportunity to visit the luxury auto giant’s headquarters in Stuttgart, Germany, the company said Tuesday. The Mobile Academy is an industry-academy joint project run by the carmaker, aimed to nurture and develop students looking to pursue a career in the automotive industry. Fifteen students were
MobilityFeb. 1, 2017
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[Herald Interview] Mosaicoon out to revolutionize video marketing
We’ve all been there. Waiting to binge watch fun videos on YouTube, we’ve zoned out while enduring a painful 15-second commercial and clicked the “skip ad” button as soon as it appeared. What does this say about today’s digital consumers? It means a lot of people love to watch online videos that are interesting or relevant but they will shut off videos they dislike or have no interest in – which means most corporate advertisements on the web. Eyeing the rise of online video and relevant consumpt
TechnologyFeb. 1, 2017
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AmCham heads to sell Trump on ‘win-win’ KORUS FTA
Following the recent inauguration of US President Donald Trump, economic tensions are soaring as the new US administration’s tougher trade policy stance and “America first” approach may drastically impact the terms of the current Korea-US Free Trade Agreement. This year is already shaping up to be a monumental period for the two countries' economic and political relationship with a new US president, the pending election of a new South Korean president, as well as a new US Ambassador to Korea fo
Feb. 1, 2017
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Samsung to unveil Galaxy Tab S3 at MWC
Samsung Electronics sent out press invitations Wednesday to showcase its new tablet Galaxy Tab S3 at the upcoming Mobile World Congress. According to the invitation, Samsung said it would unveil its new product at the Samsung Press Conference to take place in Barcelona on Feb. 26, a day before the MWC’s opening ceremony. Although Samsung did not elaborate on details of its new product, the photo attached showed the bezel in the bottom of the tablet and the contour of the home button, indicating
TechnologyFeb. 1, 2017
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Samsung loses top spot to Apple in Q4 smartphone sales
Korean tech giant Samsung Electronics lost the top spot to Apple in smartphone sales in the fourth quarter on 2016 for the first time in five years, according to US research firm Strategy Analytics. SA’s latest report showed that Samsung grabbed a 17.7 percent market share in the global smartphone market in the fourth quarter. It sold 77.5 million smartphones, a 5 percent drop on-year and its lowest quarterly sales figure in six years. Samsung’s archrival Apple captured 17.8 percent market share
IndustryFeb. 1, 2017
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Internet-only K-Bank joins banking federation
The internet-only K-Bank, which is expected to launch operations in late February, has become a new member of the Korea Federation of Banks as of Tuesday, the KFB said.It is the first time that the KFB added a new bank member in 25 years since Pyeonghwa Bank joined the association in 1992. K-Bank‘s head office in Gwanghwamun in Seoul. (K-Bank)The number of KFB members is now 21 with the joining of K-Bank.Among nonbanking financial institutions, the Korea Housing Finance Corp. and the Korea Finan
Feb. 1, 2017