Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Indonesia’s KF-21 fighter jet deal cut back -- what’s next?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Police seek arrest warrant for med student who killed girlfriend
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Samsung shares Olympic spirit with new Galaxy S7 Edge
[THE INVESTOR] Tech giant Samsung Electronics unveiled the Galaxy S7 Edge Olympic Games Limited Edition in Sao Paulo, Brazil, ahead of the Rio Olympic Games to be held from Aug. 5 to 21.The latest handset features Olympics-inspired designs -- the colors of the Olympic Rings are featured in the phone’s home and lock screens as well as the message, dial and contact screens and notification bar. Wallpapers themed with the Rio 2016 Olympic Games are also featured.Working with the International Olymp
TechnologyJuly 8, 2016
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Korea probes Ford Explorers for exhaust fumes in cabin
[THE INVESTOR] South Korean government has launched an investigation into a possible defect in Ford Explorers, following the US probe into complaints that exhaust fumes are leaking into the cabin of the SUVs. The Ministry of Land, Infrastructure and Transport on July 7 said it opened the inquiry to see if the Ford units sold here have a similar problem, after the US’ National Highway Traffic Safety Administration began the investigation. Ford ExplorerAccording to US media outlets, there have be
IndustryJuly 8, 2016
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NH Investment buys Australian Red Cross‘ building for $86m
[THE INVESTOR] NH Investment & Securities said on July 8 that it bought the Australian Red Cross’ office building in Sydney for some 100 billion won (US$ 86.3 million). The South Korean securities firm raised real estate funds with FG Asset Management to acquire the 12,700-square-meter building in Kent Street, Sydney. Built in 2011, the five-story building is on a 15-year lease contract with the Red Cross. (theinvestor@heraldcorp.com)
IndustryJuly 8, 2016
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LIG Nex1 to build 2nd plant in Gimcheon
[THE INVESTOR] LIG Nex1 will build an advanced weapons plant in Gimcheon, North Gyeongsang Province, the defense equipment maker said on July 7.A memorandum of understanding regarding the plans was signed with Gimcheon government. Under the plans, LIG Nex1 will complete the construction work by 2023. Gimcheon Mayor Park Bo-saeng (left) and LIG Nex1 CEO Lee Hyo-koo hold up the memorandum of understanding at the signing ceremony held in Gimcheon, South Gyeongsang Province on July 7. LIG Nex1Accor
IndustryJuly 8, 2016
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SK contributes to program for young social entrepreneurs
SK Group will provide 12.5 billion won ($10.82 million) to an MBA program over five years to help young entrepreneurs start up social enterprises, the conglomerate said Friday.SK signed a memorandum of understanding on Thursday with the Korea Advanced Institute of Science and Technology to groom a second group of entrepreneurs through the institute's MBA program.The SK-KAIST program was launched in 2012 with 9.5 billion won from the business group for a five-year curriculum. The first group of g
IndustryJuly 8, 2016
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GM Korea’s union OKs strike plans
[THE INVESTOR] GM Korea labor union’s vote on staging a strike was approved on July 7, making it the first carmaker union to set the stage for industrial action.The vote to take industrial action was approved by 71 percent workers. Of the 13,619 members of the carmaker’s union, 81 percent participated in the July 6-7 vote. GM Korea chief executive James Kim.However, the union’s move is widely perceived as a ploy to get the upper hand in this year’s negotiations rather than a signal for immediat
IndustryJuly 8, 2016
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Haitai cranks up production of megahit snack but sales slow down
Haitai Confectionary & Foods Co. may have been too late in building a factory to produce more of its smash hit potato chips, with the sales of the snack stagnating as soon as the factory opened, retail figures showed Friday.According to the company and tallies from Nielsen Korea, the monthly sales of Haitai's Honey Butter Chip increased roughly 300 million won ($259,629) in May and June, relatively a small increase considering that the snack hits monthly total sales of 5 billion won. The sales o
IndustryJuly 8, 2016
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Lotte founder and son banned from leaving Korea
[THE INVESTOR] Lotte Group founder Shin Kyuk-ho and his son Shin Dong-bin who is the group chairman have been banned from leaving South Korea, according to court sources on July 8.The ban comes less than a month since the prosecution initiated an all-out probe into South Korea’s fifth-largest conglomerate on June 10 on charges of embezzlement and breach of trust. Shin Kyuk-ho (left) and Shin Dong-bin (right)Industry watchers said the move indicates that the authorities have gathered enough ev
CompaniesJuly 8, 2016
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[Graphic News] College graduates’ top choice in job hunt: Naver
For the second consecutive year, college graduates who are seeking jobs have picked the nation’s Internet portal giant Naver as the employer they most want to work for, according to a survey by Internet recruiting service Incruit on Thursday.Naver was followed by food giant CJ Cheiljedang, cosmetics maker AmorePacific and Samsung Electronics.Incruit officials said respondents seem to think that when it comes to job seeking, a company’s vision and job stability are more important than high wages.
July 7, 2016
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Thriving underground economy presents terrorism financing threat
[THE INVESTOR] South Korea’s growing underground economy may pose vulnerability to terrorism financing, according to experts. “The size of the Korea’s underground economy is large, about 30 percent of the total gross domestic product,” Kang Kyung-hoon, a professor at Dongguk University, said at a public hearing on the danger of money laundering in Korea, hosted by the Korea Institute of Finance on July 7. “Terrorism funds have been rarely generated (in Korea), but the danger still persists.”The
July 7, 2016
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LG Household shares hit record high
[THE INVESTOR] LG Household and Health Care shares closed at a record high of 1.181 million won (US$ 1,023) on July 7.With this rise, up 2.2 percent from the previous day, LG Household shares rose for the ninth consecutive trading day. The latest increase pushed up the company’s market capitalization to over 18.44 trillion won, placing it in 10th place on the benchmark KOSPI.The rise is thought to be fueled by LG Household’s stable base in China and steady performance. By Choi He-suk (cheesuk@he
July 7, 2016
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CJ head again seeks custody suspension for hospital treatment
The chairman of the food and entertainment conglomerate CJ Group has again requested a suspension of the execution of his 30-month jail term, citing the need for medical treatment, court officials said Thursday.Lee Jay-hyun is currently in the hospital waiting for the Supreme Court's ruling on embezzlement, breach of trust and tax evasion charges. His confinement has been suspended on several occasions since August 2013.Lawyers representing the industry mogul submitted an application for Lee's c
IndustryJuly 7, 2016
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Government, new Saenuri leadership meet to renew ties
[THE INVESTOR] The presidential office, the ruling party, and the government met Thursday, seeking to cooperate over economic revitalization and to cement relationships in the new parliamentary term.Key officials of the Saenuri Party, the Cabinet and Cheong Wa Dae met at Prime Minister Hwang Kyo-ahn’s official residence for the first tripartite gathering since the 20th National Assembly kicked off on May 30.From the Blue House, the recently appointed presidential Chief of Staff Lee Won-jong part
July 7, 2016
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Naver chief to meet media ahead of LINE IPO
[THE INVESTOR] Lee Hae-jin, the reclusive leader of Internet giant Naver, will make an appearance at a press meeting on July 15 when the company’s subsidiary and mobile messenger operator LINE goes public in Japan“Naver board chairman Lee will attend a press meeting in Seoul on the same day when LINE is listed on the Tokyo Stock Exchange,” said Kim Hyun-ji, a public relations representative of the firm, adding the exact schedule and place are yet to be finalized. It will be Lee’s first appearanc
TechnologyJuly 7, 2016
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Samsung Electronics launches super-fast UFS card
Samsung Electronics Co., the world's largest memory chip maker, on Thursday rolled out the industry's first removable data storage card that is five times faster than that of the conventional micro SD card.The Universal Flash Storage card with 250 gigabytes of storage can be used in shooting devices such as digital single-lens reflex cameras, action cams, and virtual reality cameras, the South Korean tech giant said. (Samsung)The latest UFS can read a full HD movie file with 5GB in 10 seconds, t
IndustryJuly 7, 2016
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Gov’t promises support to Hanwha Q CELLS in completing plant expansion on time
[THE INVESTOR] The Korean government on July 7 said that it will work with concerned organizations to ensure that Hanwha Q CELLS’ plant expansion project is completed on schedule. Hanwha Q CELLS, Hanwha Group’s solar power generation unit, is currently expanding its plant producing materials for solar panels in Jincheon, North Chungcheong Province. Although the project is due for completion in July 2017, the lack of infrastructure in the area is expected to pose hurdles. The expanded plant requi
IndustryJuly 7, 2016
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Hyosung joins effort to help game start-ups’ China expansion
[THE INVESTOR] Hyosung Group, a South Korean industrial conglomerate, and North Jeolla Province have joined the efforts to help local game start-ups gain a foothold in China. Hyosung Group and four other organizations, including South Jeolla Provincial Office and HN Games, formed a business agreement on July 7 at the Jeonbuk Creative Economy and Innovation Center, the company said. Under the plan, Hyosung plans to invest 1 billion won (US$ 864,650). The company, in partnership with the organizat
TechnologyJuly 7, 2016
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Samsung forecasts best profits in two years on strong Galaxy S7 sales
Samsung Electronics expects to report its best quarterly results in more than two years in the second quarter of this year thanks to the sustained popularity of its flagship Galaxy S7 smartphones, the company said Thursday. The world’s largest smartphone maker by shipments estimated an operating income of 8.1 trillion won ($6.9 billion) for the latest quarter, a 17 percent increase from the 6.9 trillion won posted a year ago. Its revenue is also likely to increase 3 percent year-on-year to aroun
TechnologyJuly 7, 2016
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Components to drive up Samsung’s Q3 profits
[THE INVESTOR] Expectations are high on Samsung Electronics’ third quarter profits after the company released its second-quarter earnings guidance that beat analyst estimates on Thursday. According to its tentative earnings report, the Korean tech giant posted more than 8 trillion won ($7.6 billion) in operating profits and 50 trillion won in sales in the April-June period. Analysts say the company will continue the current momentum in coming months.Despite a modest growth in mobile business t
TechnologyJuly 7, 2016
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Shares spike over 1% on foreign buying, surprise over Samsung’s earnings
Korean stocks closed significantly higher Thursday, clearly rebounding from a dip on the previous day on an earnings surprise from tech giant Samsung Electronics. The local currency also advanced against the U.S. dollar.The benchmark Korea Composite Stock Price Index spiked 20.96 points, or 1.07 percent, to 1,974.08. Trade volume was moderate at 374.6 million shares, worth 3.87 trillion won ($3.35 billion). Gainers outnumbered losers 607 to 208. The sharp rise came one day after foreign investor
July 7, 2016