Most Popular
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[H.eco Forum] H.eco Forum calls for transition to clean, carbon-free energy
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[Exclusive] LACMA admits it needs further research on donated Korean paintings
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Russia likely offering N. Korea technology aid to expand threats to US, others: Pentagon official
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[Bridge to Africa] Africa-Korea partnership: Why it matters for future
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[Herald Interview] Korean adoptees embark on journeys to find roots
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[Graphic News] Medical tourists visiting Korea reach record high
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‘Gimflation’ in S. Korea as dried seaweed prices grow on rising global demand
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Yoon to resume diplomatic activity via 3-way summit with Japan, China
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S. Korea's gender pay gap worst in OECD
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Revote on Marine probe bill to be held next week
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DRAM prices jump 39% on-month in Jan.
The prices of computer memory chips surged 39 percent on-month in January, industry data showed Tuesday, boding well for South Korea's leading chipmakers -- Samsung Electronics Co. and SK hynix Inc.The spot price of the benchmark 4-gigabit DDR3 came to US$2.69 as of Wednesday, compared to an average spot price of $1.94 a month earlier, according to the data by market tracker DRAMeXchange. (Yonhap)It marks the biggest on-month jump since the data was compiled in July 2012, DRAMeXchange said.The s
IndustryJan. 31, 2017
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Chinese-made tires account for 1 in 3 imports in Korea
Nearly one in every three vehicle tires shipped to South Korea last year was produced in China, market data showed Tuesday.The country imported about $599 million worth of tires in 2016, according to the Korea Tire Manufacturers Association. Of the total, $175 million worth, or 33.6 percent, was from China, up 2.1 percent from the previous year. (Yonhap)German tires accounted for 9.5 percent of the total, followed by Japanese products with a 9-percent market share.Notably, China accounted for 79
IndustryJan. 31, 2017
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Naver to focus R&D on autonomous vehicles, car sharing business
South Korean internet giant Naver said Tuesday that its research and development subsidiary Naver Labs will speed up efforts to develop new technologies for the autonomous vehicles and car sharing businesses. Naver Labs — which became an independent company from Naver in early January — has included “car components manufacturing and service” as well as “car sharing” to its articles of association which outlines the new firm’s purpose and duties, Naver said.The Naver headquarters in Pangyo (Naver
TechnologyJan. 31, 2017
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KT CEO Hwang reappointed, faces governance challenges
KT’s board of directors approved the reappointment of CEO Hwang Chang-gyu on Tuesday, allowing Hwang another three years to lead the second-largest mobile carrier in South Korea. According to the company, the board held a meeting Tuesday morning to discuss the CEO’s second term and overhaul of corporate governance. KT CEO Hwang Chang-gyu (Yonhap)The board’s endorsement of Hwang needs final approval from a shareholders meeting slated for March.With his second term almost ready, Hwang is expected
TechnologyJan. 31, 2017
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[Photo News] Chinese shoppers at Galleria Duty Free 63
Tourists from China who came to Korea during the Lunar New Year holiday through travel service provider Ctrip take part in a hanbok experience event at Galleria Duty Free 63 in Yeongdeungpo-gu, Seoul, Monday. (Hanwha Galleria)
IndustryJan. 31, 2017
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Samsung, LG prevail in American home appliance market
Korean home appliance makers are boosting efforts to dominate the North American market, showcasing air conditioning products tailored for local consumers at an exhibition that kicked off in the US on Monday. At the 2017 International Air Conditioning, Heating, Refrigerating Exposition, known as AHR Expo, in Las Vegas, Samsung Electronics unveiled the Max Heat Series designed specifically for cold regions as well as the world’s first wall-mounted Wind-Free AC, it said Tuesday.(Samsung Electronic
TechnologyJan. 31, 2017
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Retailers target niche delivery strategies
Retailers are seeking to attract more customers by rolling out delivery-related services and tackling niche delivery issues.On Tuesday, Paju Premium Outlets, run by Shinsegae in partnership with Simon Property Group, announced it had signed an agreement with DHL Korea to provide overseas shipping for tourists shopping in Korea. Overseas shipping services offered at Paju Premium Outlets (Shinsegae Simon)Tourists who purchase products at Paju Premium Outlets can request their items be shipped to t
IndustryJan. 31, 2017
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BOK vows to maintain monetary easing policy
South Korea's central bank vowed Tuesday to keep the current monetary easing policy to support growth amid uncertainties at home and abroad.The Bank of Korea has left its key rate unchanged at an all-time low of 1.25 percent since June when it made a surprise rate cut to bolster Asia's fourth-biggest economy. (Yonhap)"We plan to maintain the monetary easing policy to support the recovery of economic growth," the BOK said in a report submitted to the National Assembly earlier in the day.The BOK a
Jan. 31, 2017
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Korean character industry grows fivefold in 10 yrs
The South Korean character industry has grown rapidly for the last decade, pulled by the growth of local animations and, more recently, by the popularity of character-rich mobile app services like Kakao Talk, data shows Tuesday.According to the Korea Creative Content Agency, total sales in the character industry jumped 11.4 percent to 10.08 trillion won ($8.6 billion) in 2015 from 9.05 trillion won the prior year. Given the number was 2.07 trillion won in 2005, it has increased nearly fivefold o
IndustryJan. 31, 2017
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Korea to sell W3tr worth of Treasury bills in Feb.
South Korea plans to sell 3 trillion won ($2.6 billion) worth of Treasury bills next month to speed up frontloading of the government spending in the coming months, the finance ministry said Tuesday.The bills will have a maturity of 63 days and be sold in three separate auctions throughout the month, according to the Ministry of Strategy and Finance. (Yonhap)Treasury bills are designed to raise money to cover short-term financial shortfalls, and thus are generally sold with a maturity of less th
Jan. 31, 2017
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Domestic car production reaches 6-year low, overseas numbers rise
Domestic automobile production saw a 7.2 percent decrease last year compared to 2015, marking the lowest production rate for local automakers in six years, according to the Korea Automobile Manufacturers Association. Seven domestic automakers -- Hyundai Motor, Kia Motors, GM Korea, Ssangyong Motor, Renault Samsung Motors, Daewoo Bus and Tata Daewoo -- manufactured a combined total of roughly 4.23 million units in Korea last year, down 330,000 vehicles. The decline in domestic production is wide
MobilityJan. 31, 2017
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Retail investors cut loss thanks to tech gains
Two South Korean tech giants - Samsung Electronics Co. and SK hynix Inc. - have helped local retail investors reduce part of their losses on the local stock market this month, data showed Tuesday.Individual investors, called "ants" here, tend to lose money in many cases, versus institutions which reap relatively high returns. An investor monitors stock prices on an electronic board at the Seoul bourse in this file photo. (Yonhap)The average yield of the ten most popular stocks among those retail
IndustryJan. 31, 2017
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KB to offer integrated wealth management service
Korea’s major lender Kookmin Bank said it will team up with KB Securities to offer integrated wealth management services from February.KB Financial Group has set up a new advisory group for wealth management service by pulling experts from investment products and service divisions under the bank and the brokerage, respectively, the bank said. Kookmin Bank's head office in Yeouido, Seoul (Kookmin Bank)The advisory group consists of 24 experts including an investment strategist, a portfolio diver
Jan. 31, 2017
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Profits at brokerages decline in 2016: data
Profits at South Korea’s major securities firms have declined in 2016 mainly due to weaker stock transactions and losses from derivatives and bond investments amid rising bond yields, industry data showed Tuesday.According to regulatory filings on the Financial Supervisory Service, Samsung Securities’ net profit declined 36.6 percent on-year to 174.4 billion won and operating profit plunged 43.8 percent to 211.7 billion won in 2016. (123rf)HMC Investment & securities also saw its net profit fall
Jan. 31, 2017
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GM Korea to begin local sales of Volt EV this week
GM Korea Co., the South Korean unit of US automaker General Motors Co., will begin to sell the Chevrolet Volt electric vehicle in the local market this week, the company said Tuesday.The Volt EV will be available at any Chevrolet dealership here from Wednesday, the company said in a press release. The Chevrolet Volt EV (GM Korea)The second-generation Volt has what the company called an extended range of 676 kilometers.The new plug-in hybrid car can travel up to 89 kilometers off its battery afte
IndustryJan. 31, 2017
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Samsung developing new smartphone with Tizen 3.0
Samsung Electronics Co. is developing a new smartphone that runs on the next Tizen operating system, apparently to decrease its dependence on Google Inc.'s Android platform, industry sources said Tuesday.The South Korean tech giant currently has a device in the pipeline that will be the company's first smartphone with the impending Tizen 3.0, sources with knowledge of the matter said. Samsung Electronics Co.'s Z2 powered by the Tizen operating system (Samsung Electronics Co.)"Samsung has just be
IndustryJan. 31, 2017
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Korea's national debt tops W900tr
South Korea's national debt surpassed 900 trillion won ($770 billion) last year largely due to the government's expansionary fiscal policy to cope with a years-long economic slump, data showed Tuesday.The conservative administrations of Lee Myung-bak and Park Geun-hye have favored the issuance of debts to finance the fiscal expansion, instead of hefty taxes. This composite image alludes to South Korean government bonds. (Yonhap)The country's debt, which covers the central government's general an
Jan. 31, 2017
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Govt. to beef up safety of smartphone batteries
The South Korean government will strengthen its safety measures on smartphone batteries after some Galaxy Note 7 smartphones by Samsung Electronics Co. caught fire, sources said Tuesday.The state-run Korea Testing Laboratory will announce a set of measures and release the outcome of its investigation later this week into what caused Samsung's latest flagship phones to catch fire, they said. (Yonhap)"The government is preparing a revision to safety regulations to prevent a similar accident from o
IndustryJan. 31, 2017
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IDEACONCERT to focus on webtoon movie production
In the first quarter of 2017, IDEACONCERT, a webtoon movie producer, will concentrate on offering webtoon movie services to its clients. The term “webtoon movie,” which was coined by IDEACONCERT, refers to a slightly more dynamic version of what is known as a “moving toon” – a webtoon in which certain characters or scenes are animated.IDEACONCERT was able to secure this opportunity thanks to the unique technology it has developed -- a technique for producing video tools that enables webtoon char
TechnologyJan. 31, 2017
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Demand deposits keep rising amid uncertainties
Demand deposits at South Korea's five major commercial banks have exceeded 300 trillion won ($257 billion), as a growing number of people are waiting for investment opportunities, data showed Tuesday.Demand deposits at Shinhan, KB Kookmin, Woori, KEB Hana and NH banks totaled 327.3 trillion won at the end of last year, an increase of 41.7 trillion won from a year earlier. This undated file photo is of a pile of bank notes. (Yonhap)KB Kookmin posted the largest growth of 11 trillion won, followed
Jan. 31, 2017