Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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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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Korean firms target EV charging market in US
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Top 10 biz groups take up more than half of stock market cap
South Korea's top 10 conglomerates by assets take up over half of the country's stock market capitalization, data showed Monday, pointing to their huge clout in Asia's fourth-largest economy.According to the data by corporate tracker Chaebul.com, listed subsidiaries of the 10 largest family-controlled business groups, known as chaebol here, had a combined market capitalization of 793.9 trillion won ($680 billion) as of Wednesday, or 51.6 percent of the value of all shares traded on the main bour
Jan. 30, 2017
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Korean stock market's return rate far below those of foreign rivals
South Korea's stock market has risen 11 percent in the past five years, far lower than other global markets' yield rates, as the local stock market has been locked in a tight range, data showed Monday.According to the data compiled by the Korea Exchange, the country's benchmark index, the KOSPI, closed at 2,026.46 points on the last trading day of 2016, up from 1,825.74 points five years ago. (Yonhap)Japan's Nikkei 225 index came at the top of the performance list by surging to 19,114.37 points
Jan. 30, 2017
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Korea's used car sales hit record in 2016
More than 3.7 million used cars were traded in South Korea last year, hitting a record high, data showed Sunday.The number of used cars newly registered with the authorities during the year totaled 3.78 million, according to the Ministry of Land, Infrastructure and Transport. It marks an increase from 3.66 million in 2015, 3.46 million in 2014, 3.37 million in 2013 and 3.28 million in 2012. Used cars are for sale in this file photo. (Yonhap)The continued expansion of the second-hand car market i
IndustryJan. 30, 2017
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Korean cosmetics exports rise on Chinese consumption in 2016
South Korea's cosmetics industry saw its exports rise by more than 40 percent last year in large part thanks to Chinese consumers' bigger spending power and their increasing interests in grooming and beauty products, industry experts said Sunday.According to data from the Korea International Trade Association, exports of skincare and makeup products amounted toUS$3.97 billion last year, up 44.3 percent from US$2.75 billion.The number doubled from the 2014 figure of US$1.79 billion. Among the exp
IndustryJan. 29, 2017
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Samsung Electronics widens gaps with other giants in 2016
Samsung Electronics Co. saw its earnings overwhelm other South Korean companies in 2016, data showed Friday, expanding its presence in the country's economy.The South Korean tech giant posted sales and operating profit of 201 trillion won ($172 billion) and 29.2 trillion won, respectively, in 2016, market data showed. (Yonhap)SK hynix Inc., the No. 2 player on the main bourse in terms of market capitalization, managed to post sales and operating profit of 17.1 trillion won and 3.2 trillion won,
BusinessJan. 27, 2017
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Korean stocks up on Samsung's rally
South Korean shares ended higher Thursday as foreigners went on a buying spree of market heavyweights, such as top cap Samsung Electronics. The local currency rose against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) added16.65 points, or 0.81 percent, to 2,083.59. Trade volume came to254.64 million shares worth 4.26 trillion won ($3.67 billion), with advancers outnumbering decliners 560 to 255.Foreigner investors bought a net 348.21 billion won worth of local stocks, wh
BusinessJan. 26, 2017
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Rates for household loans inch up in December
Bank lending rates on new household loans edged up in December while interest rates paid by banks on new deposits also increased, central bank data showed Thursday.The average interest rates on fresh household loans extended by local banks came to 3.29 percent last month, up 0.09 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. The country's overall household debt reached a record high
Jan. 26, 2017
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Korea set to expand imports from US
South Korea said Thursday that it will consider importing more US products this year as part of its efforts to adjust its trade schemes to new trade policies by the Donald Trump administration.The government unveiled the 2017 overseas economic policy plans at a minister-level meeting in Seoul chaired by Finance Minister Yoo Il-ho, focusing on increasing policy resilience against rising uncertainties and trade protectionism.A container ship carrying import goods is anchored in Seattle in the Unit
Jan. 26, 2017
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SK Group to spend record W17tr this year
SK Group, South Korea's No. 3 conglomerate, said Thursday that its affiliates plan to invest a combined 17 trillion won ($14.7 billion) this year, up 21 percent from last year, although economic uncertainty still persists at home and abroad.Energy and telecom giant SK said its 16 affiliates will newly hire 8,200 this year, up 200 from last year. (Yonhap)SK's aggressive investment plan is accelerating as group chief Chey Tae-won came back to the management last year.In 2014, the group chief stepp
BusinessJan. 26, 2017
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LG’s 2016 performance improves except for smartphone
LG Electronics on Wednesday announced its performance improved last year, although its mobile device unit performed worse than a year earlier. According to a regulatory filing, LG said it posted 55.4 trillion won ($47.5 billion) in sales and 1.34 trillion won in operating profit in 2016. While its annual sales dropped 2 percent on-year, LG saw a 12.2 percent gain in its operating profit, owing to the largest-ever profits from its home appliance and TV businesses. The company’s home appliance
TechnologyJan. 25, 2017
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[Advertorial] Samsung Fire & Marine offers reliable service for customers
Samsung Fire & Marine’s insurance risk consultant program offers a win-win system that provides stable jobs for women and reliable services for customers. The company offers a six-month training course for a beginner RC in order to provide a systemic education for its RCs. The job offers stability both in career and income, making it particularly helpful for women seeking to re-enter the job market after raising children, the company said.A Samsung Fire and Marine Insurance Co. Risk Consultant i
CompaniesJan. 25, 2017
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Minister calls for more robust restructuring of troubled industries
South Korea’s finance minister vowed Monday to carry on restructuring and supporting troubled industries this year, urging two state-owned policy lenders to continue their efforts. Finance Minister Yoo Il-ho led a ministerial-level meeting in Seoul to discuss detailed plans on revamping four key industrial sectors -- shipbuilding, shipping, steelmaking and petroleum. “We have to carry out sweeping reform in earnest based on the principle and framework we set last year,&rdquo
IndustryJan. 25, 2017
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Hyundai Motor’s profit lowest in 7 years
Hyundai Motor, the nation’s biggest carmaker, posted an operating profit of 5.19 trillion won ($4.45 billion) last year, the lowest since 2010 when the carmaker started to comply with international financial reporting standards.The carmaker, in a regulatory filing Wednesday, also posted a net profit of 5.76 trillion won, a 12.1 percent decrease from 6.51 trillion won in the previous year. (Yonhap)For the entire year, Hyundai’s sales grew 1.8 percent on-year to 93.65 trillion won, selling a total
MobilityJan. 25, 2017
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[Newsmaker] Posco chief assumes second term amid scandal, growing uncertainty
Amid growing uncertainty over the global competitiveness of the Korean steel industry and an intensifying probe into an influence-peddling scandal, Posco Chairman Kwon Oh-joon was given another three-year term as the head of the world’s fourth-largest steelmaker Wednesday.The board of directors was briefed on an independent panel’s assessment on Kwon that he is qualified to seek a second term, and agreed to recommend him as the sole candidate for Posco’s next chairman during a shareholders’ meet
IndustryJan. 25, 2017
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Weakening consumption drags down Korean economy
Concerns are deepening that weakening domestic consumption will further drag down South Korea’s sluggish economy this year, offsetting any positive effect of a rebound in exports.Experts caution that Asia’s fourth-largest economy may suffer from the worst slump in domestic demand since the 2008 global financial crisis. (123rf)According to the Korea Economic Research Institute, a private think tank, the country’s private consumption is projected to grow 1.7 percent in 2017, down from 2.4 percent
Jan. 25, 2017
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McDonald’s Korea joins Herald campaign
McDonald’s Korea is participating in The Korea Herald’s campaign to provide newspapers to military units in isolated regions as part of its social responsibility program, the company said Wednesday.The units are located in areas including Hwacheon in Gangwon Province and Icheon and Yeoju in Gyeonggi Province. Some 50 editions will be provided to the units for a year. (Yonhap)McDonald’s have been exerting continuous CSR efforts under its corporate philosophy of contributing to the development and
CompaniesJan. 25, 2017
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Korea, Malaysia extend $4.2b currency swap deal
South Korea's central bank said Wednesday it has agreed with its Malaysian counterpart to extend their bilateral currency swap line, a move that could further strengthen bilateral financial cooperation.Under the deal that will last until January 2020, the two countries can exchange 5 trillion won ($4.2 billion) for 15 billion ringgit ($3.3 billion) or vice versa, which could also be used to settle payments linked to their bilateral trade, the Bank of Korea said in a statement. (Yonhap)"This arra
Jan. 25, 2017
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SKT develops smart watch identity verification technology
SK Telecom has developed an identity verification technology using smart watches and won an international certification from the Fast Identity Online Alliance, the company said Wednesday. The FIDO certified technology enables users to replace existing USB flash drives or one-time password tokens with a smart watch for verification required for online financial transactions. (SK telecom)All a user needs to do is tap the screen of his or her smart watch that has been registered for verification w
TechnologyJan. 25, 2017
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STX Shipbuilding ordered to compensate shareholders for accounting fraud
A lower court has ordered cash-strapped STX Offshore & Shipbuilding Co. to compensate its minority shareholders for losses they suffered due to its accounting fraud, court records showed Wednesday.The Seoul Central District Court ruled in favor of 290 plaintiffs who sued the shipbuilder, former STX Group Chairman Kang Duk-soo and the accounting firm Samjong KPMG, and ordered the defendants to pay a total of some 4.9 billion won ($4.2 million) in damages. (Yonhap)The court said Kang, who led the
IndustryJan. 25, 2017
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Korea says illegal imports up 8% in 2016
South Korea's customs agency said Wednesday that it has caught illegal imports in 89,336 cases in 2016, up 8 percent from a year earlier.The Korea Customs Service said it seized imports of foods that contain harmful substances in 9,033 cases, up 315 percent from 2,867 cases in 2015. (Yonhap)Among the items seized by the agency include dietary supplements that could cause hallucination and stomachache, sexual performance drugs and supplements meant to enhance athletic performance.Some of the item
Jan. 25, 2017