Most Popular
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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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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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South Korea open to Indonesian proposal to cut KF-21 payments
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Police seek arrest warrant for med student who killed girlfriend
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop's dilemma] Is Hybe-Ador conflict a case of growing pains?
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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
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Chaebol ‘owners’ control groups with 0.9% shares
The tycoons of Korea’s top 10 family-run conglomerates, or chaebol, control their empire with less than 1 percent of equity stake ownership, but are backed by a record-high level of intragroup shareholdings, the nation’s antitrust agency said Thursday. According to the Fair Trade Commission, “owners” of the country’s top 10 chaebol groups hold an average 0.9 percent of their group’s total shares as of April 1, unchanged from last year, but down from 2.9 percent in 1998. Their relatives currently
July 7, 2016
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KT to nurture 20 start-ups this year
[THE INVESTOR] KT, South Korea’s leading telecommunications company, will pour 2 billion won ($1.7 million) to foster 20 start-ups this year, the company said Thursday. In line with the investment plan, the company held the so-called “speed dating” pitching event, at its headquarters in Seoul on the same day. At the event, start-ups suggest their ideas to attract investment and KT executives choose candidates to receive marketing and financial support on the spot. Among the start-ups selected fo
IndustryJuly 7, 2016
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KDB to invest in mainland Chinese stocks
[THE INVESTOR] The Korea Development Bank, a state-owned policy bank, said on July 7 that it has started investing in China’s onshore stock markets as a renminbi qualified foreign institutional investor. The KDB plans to put some 1 billion yuan of funds into securities and bonds listed on Shanghai and Shenzhen Stock Exchange as well as China’s interbank bond market. The Korea Development Bank“As a policy bank representing Korea, we will play a major role in the financial cooperation between the
July 7, 2016
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NPS selects 7 firms for venture fund
[THE INVESTOR] South Korea’s National Pension Service has named seven private equity firms to run 200 billion won ($172 million) of its funds, the pension giant said on Thursday. The NPS, which oversees $430 billion in assets, hired Aju IB Investment and KTB Network as general manager of the venture fund. Five others including Medici Investment, Seoul Investment Partners, Wonik Investment Partners, Innopolis Partners and G.N.Tech Venture Capital were named as preliminary mangers. “Through the ve
July 7, 2016
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Huawei files new patent suit against Samsung in China
[THE INVESTOR] Chinese tech firm Huawei has filed a complaint at Chinese district courts against South Korean rival Samsung Electronics for breaching its patent for mobile icon and widget designs. The Chinese firm reportedly argued in its complaint filed at the courts in Shenzhen and Quanzhou on July 6 that Samsung used without permission Hauwei’s patent on how to display mobile application icons in a folder and widgets on the smartphone screen.Huawei demanded 80 million Chinese yuan (US$12 mill
TechnologyJuly 7, 2016
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Samsung Heavy workers stage 4-hour strike
[THE INVESTOR] Samsung Heavy Industries workers went on a partial strike on Thursday, to protest the company’s tough restructuring plan. It marked the first time that a troubled South Korean shipbuilder has faced a labor dispute.Earlier this week, the group of workers at the company’s shipyard in Geoje, South Gyeongsang Province, voted to launch the strike for four hours till 5 p.m.Some 5,400 members of the so-called “labor council,” joined the strike. Samsung Heavy, a unit of the country’s top
IndustryJuly 7, 2016
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Samsung, SK hynix to benefit from rise of DRAM prices in Q3
[THE INVESTOR] With prices hitting rock bottom, the global DRAM market has been in the doldrums over the past couple years. According to a market report on Thursday, however, the DRAM market will likely gain steam in the July-September period due to increasing demand in the mobile and server markets. “The downward trend in DRAM prices over the past two years has reversed in June,” said DRAMeXchange in a recent report. It also forecast that the price increase rate would be in the range of betwee
TechnologyJuly 7, 2016
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OLED equipment market for Apple to reach W15tr by 2020
[THE INVESETOR] With Apple’s planned adoption of organic light-emitting diode display for its iPhone next year, the related equipment market is estimated to reach US$13 billion by 2020, a local research firm said July 7. According to UBI Research, orders from Apple alone could make up about 47 percent of the global equipment market for sixth-generation flexible OLED, worth US$28.4 billion for the next five years. Apple’s iPhone 6SThe sixth-generation flexible OLED is increasingly adopted for sma
TechnologyJuly 7, 2016