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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Hyundai Motor's RVs enjoy popularity in Europe
Hyundai Motor Co., South Korea's carmaker, said Sunday its recreational vehicles posted robust sales in Europe this year, led by the popularity of its latest compact crossover SUV Tucson.Out of 323,503 Hyundai vehicles sold in Europe through August, 135,110 units, or 43 percent of the total, were recreational vehicles, the company said. The ratio of RV sales has steadily risen from 22 percent in 2010 to 34 percent in 2014, surpassing 40 percent for the first time this year, it said.Hyundai has r
MobilitySept. 18, 2016
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Samsung Electronics sells shares in four overseas tech firms
South Korean tech giant Samsung Electronics Co. said Sunday it has sold shares in four overseas technology firms to focus on its core businesses, adding the sales will not affect its existing partnership with the companies.The world's biggest smartphone maker said it has sold half of its 3 percent share in Dutch semiconductor company ASML Holding NV, a deal estimated at 766.4 billion won ($681 million). Based in the Netherlands, ASML is the world's largest manufacturer by sales of lithography sy
TechnologySept. 18, 2016
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Korea is losing export competitiveness: report
South Korea is losing export competitiveness in the major industrial sectors as China is catching up fast in the technology and manufacturing industries, a report showed Sunday. The market share of Korea's top 13 export items accounted for 5.3 percent in the global market in 2015, shedding 0.4 percentage point from 2011, the Korea International Trade Association said in a report. The key export items include semiconductors, autos, ships, steel, flat panel displays, wireless communications equipm
Sept. 18, 2016
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KOSPI sees net foreign buying for 8 months
Offshore investors have kept buying Korean stocks for eight consecutive months on ample liquidity, marking the longest buying streak in seven years, the main bourse operator said Sunday. Foreigners have purchased a total of 12.87 trillion won ($11.43 billion) worth of stocks in the main KOSPI market from Feb. 1 to Sept. 9, the Korea Exchange said. Overseas investors bought 4 trillion won in July alone when major economies rolled out quantitative easing measures in the wake of Britain's vote to l
Sept. 18, 2016
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Official recall of 1m Samsung Note 7 phones
SAN FRANCISCO (AP) -- US safety regulators announced a formal recall of Samsung's Galaxy Note 7 smartphone Thursday after a spate of fires led to injuries and property damage -- along with a global marketing headache for the South Korean tech giant."Because this product presents such a serious fire hazard, I am urging all consumers ... to take advantage of this recall right away," said Elliot Kaye, chairman of the US Consumer Product Safety Commission.Samsung had already initiated a voluntary re
IndustrySept. 16, 2016
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Galaxy Note 7 recall shows challenges of stronger batteries
Samsung's recall of 2.5 million Galaxy Note 7 phones after several dozen caught fire and exploded may stem from a subtle manufacturing error, but it highlights the challenge electronics makers face in packing ever more battery power into ever thinner phones, while rushing for faster release dates. Announcing the recall on Sept. 2, Samsung confirmed dozens of cases where Note 7 batteries caught fire or exploded, mostly while charging. It plans a software update that will cap battery recharging
IndustrySept. 15, 2016
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Tax reimbursements more than double in 2015
The amount of tax reimbursements more than doubled from a year earlier in 2015, apparently indicating excessive tax collection by officials out to improve their personal performances, a lawmaker said Thursday. In 2015, the National Tax Service (NTS) was forced to reimburse 6.26 trillion won (US$5.56 billion) in excess taxes, according to Rep. Kim Gwang-lim of the ruling Saenuri Party. The 2015 tally marks a 106 percent spike from 3.04 trillion won in 2014, the lawmaker said, citing related d
Sept. 15, 2016
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Lotte chief to be questioned after Chuseok holiday
South Korean prosecutors are seeking to end the months-long investigation into Lotte Group by summoning the group chairman after the Korean Thanksgiving holiday. The group’s owner family has been accused of a range of illegal activities including tax evasion, embezzlement and slush fund creation.“We will summon the chairman Shin for questioning right after the Chuseok holiday,” the Seoul Central District Prosecutors’ Office said, adding, “the date may be confirmed during the holiday period.”Pros
IndustrySept. 13, 2016
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Record earthquake triggers safety concerns
A record-breaking earthquake has raised safety concerns over nuclear reactors in South Korea, despite meteorological chief saying that larger earthquakes are unlikely.Ko Yun-hwa, the head of the Korea Meteorological Administration said on Tuesday morning that strong earthquakes exceeding a magnitude of 6.5 are unlikely to occur in South Korea although earthquakes of magnitudes higher than 6 could happen in the future.Following the 5.8 magnitude earthquake in the southeastern city Gyeongju on Mon
IndustrySept. 13, 2016
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Hyundai, Samsung production facilities resume after quake
A number of South Korean businesses were forced to halt their production and assembly lines for safety inspections Tuesday, one day after a powerful quake rocked the country.Nearly a dozen major industrial facilities, including a power plant, had their operations halted after a 5.8 magnitude earthquake jolted the nation, according to the commerce ministry.The quake was the strongest ever to be recorded on the Korean Peninsula, the Korea Meteorological Administration has said.The nation’s largest
IndustrySept. 13, 2016
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Korean economy facing growing downward risks in H2
A series of unfortunate industrial and economic events at home and abroad are weighing down on the South Korean economy, blasting hopes for recovery in the second half of 2016. According to a report by LG Economic Research Institute on Tuesday, the Korean economy is highly likely to suffer sluggish consumption, exports and facility investment for the last four months of the year as the fourth-largest economy in Asia is recently hit by collapse of the country’s largest shipper, recalls of the new
Sept. 13, 2016
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Korea's auto exports plunge to 7-yr low in Aug.
South Korea's car exports shrank to a seven-year low in August due mainly to contracted global demand and partial strikes at local carmakers, the government said Tuesday.Outbound shipments of vehicles came to 142,987 units last month, down 18.6 percent from 175,610 units tallied a year earlier, according to the Ministry of Trade, Industry and Energy.The August figure marked the smallest monthly export tally since August 2009, when it hit 141,189.From a month earlier, it also plunged 34.2 percent
MobilitySept. 13, 2016
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Rice prices slump due to consecutive bumper harvest
Rice prices in South Korea dropped this year as local farmers had the bumper harvest for a second consecutive year thanks to the favorable weather, coupled with rising stockpiles, industry and government officials said Tuesday. A record amount of 4.32 million tons of rice was cropped across the nation last year, and it is expected to be robust this year as well because the extended summer heat and absence of typhoon and flood helped increase rice production, the Ministry of Agriculture, Food and
IndustrySept. 13, 2016
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Regulator warns against loan sharks making illegal threats
The financial regulator on Tuesday issued an alert to consumers against loan sharks who threaten family members of borrowers, telling them such acts are against the law.The Financial Supervisory Service said it has received 483 complaints this year as of July about abuse and threats from unregistered lenders over returning money borrowed by a family member. The annual interest rate on loans from such lenders is3,476 percent. Reported cases include a father who was threatened to pay back his son'
IndustrySept. 13, 2016
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Korea posts 55th consecutive month of trade surplus in Aug.
South Korea extended its trade surplus streak to 55 months in August on the back of a turnaround in exports for the first time in 20 months, customs data showed Tuesday.The country's trade surplus came to $5.1 billion last month, down from a record $7.6 billion in the previous month, according to the data from the Korea Customs Service.The figure also marked a 17.8 percent on-year rise from $4.3 billion tallied in the same month a year earlier, continuing its bullish run for 55 months in a row s
Sept. 13, 2016
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Korea becoming more vulnerable to stock market shocks: report
South Korea's import prices fell for a second straight month in August due to a stronger local currency, central bank data showed Tuesday.The nation's import price index dropped 1.9 percent on-month to 74.44, according to the Bank of Korea. It marks an 8.5 percent decline from the same period last year.The BOK said the won's strength against the US dollar is to blame for the decline in import prices, despite a hike in global oil prices.The won gained 0.48 percent against the dollar at the end of
IndustrySept. 13, 2016
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More than 150 businesses to participate in 'Korea Sale Festa'
More than 150 local retailers, fashion companies and cosmetics firms will participate in South Korea's biggest shopping festival, "Korea Sale Festa," slated for later this month, the trade ministry here said Tuesday.During the Sept. 29-Oct. 9 event, 153 companies will offer big discounts to shoppers and foreign visitors at their 45,000 shops across the nation, according to the Ministry of Trade, Industry and Energy.Among the firms on the list are big retailers including Lotte Department Stores a
IndustrySept. 13, 2016
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Korea's jobless rate edges up to 3.6% in Aug.
South Korea's jobless rate increased slightly in August from a year earlier, with the unemployment rate for young adults still remaining high amid a prolonged economic slump, a government report showed Tuesday.The unemployment rate in Asia's fourth-largest economy stood at 3.6 percent last month, compared with 3.5 percent tallied in July, according to the report compiled by Statistics Korea.The number of employed people stood at 26.5 million in August, up 387,000 from a year earlier, with the mo
Sept. 13, 2016
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S. Korean icebreaker finds gas hydrates in Arctic sea
A South Korean icebreaker exploring the Arctic discovered new gas hydrate reserves in the East Siberian Sea, the ship's operator said Monday.The Korea Polar Research Institute (KOPRI) said the Aaron successfully extracted gas hydrates from about 500 meters under the East Siberian Sea, a marginal sea in the Arctic Ocean.Gas hydrates refer to a semisolid mixture of methane gas and water molecules that are created through a combination of the water pressure and cold temperatures found in deep ocean
IndustrySept. 12, 2016
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Samsung heir tightens grip, shares tumble on recall
Lee Jae-yong, vice chairman of Samsung Electronics and the heir apparent of Samsung Group, was named as a registered boardroom member, the company said Monday, signaling him moving one step closer to the throne.The decision was made during a board meeting earlier in the day, Samsung said in a statement, calling it a decision that would have him more responsible for the management of the nation’s largest conglomerate. Registered boardroom members at firms are obliged to take responsibility in bot
IndustrySept. 12, 2016