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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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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[Robert J. Fouser] Social attitudes toward language proficiency
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Graphic News] How much do Korean adults read?
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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Financial authorities increase vigilance on Brexit vote
South Korea’s financial authorities are increasing their monitoring of the financial market in light of the vote opening on Thursday on whether Britain should leave the European Union. Global analysts have been cautioning that an exit vote would be devastating for the global economy, including Korea where British capital invested in local stocks accounts for over 8 percent of the total as of May this year. British Prime Minister David Cameron meets citizens in London on May 30, 2016. (Yonhap)“Th
June 23, 2016
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KAI’s Surion chopper to get smarter
The Surion chopper, developed by South Korea’s sole aircraft-maker Korea Aerospace Industries, will feature its digital display screen and advanced control as parts of its marketing efforts, the company said Thursday.Employing an integrated avionics suite from the Swiss-based American technology firm Garmin, KAI will change the face of Surion’s cockpit design and offer easier control of the chopper, it said. The upgraded model will be rolled out in 2019 both for public and private use. By adopti
IndustryJune 23, 2016
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Samsung SDS shareholders call on NPS for support
[THE INVESTOR] Minor shareholders of Samsung SDS are reaching out to the National Pension Service in their fight against the company’s reorganization plans. Samsung SDS is reviewing plans to spin off some of its businesses including the logistics operations. Since Oct. 19, Samsung SDS stock has been on a downward slope with prices down by half since then. The minor shareholders’ association has put the blame squarely on the company’s spin-off plans, and has been demanding action from Samsung SDS
IndustryJune 23, 2016
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Ex-chief of KT&G acquitted of bribery charges
[THE INVESTOR] The former head of Korea’s leading tobacco-maker was acquitted of kickback charges by a Seoul court due to lack of credible evidence on June 23.Min Young-jin, who headed KT&G from 2010 to 2015, was accused of receiving some 179 million won (US$151,000) in bribes from subcontractors, a company official and a foreign buyer between 2009 and 2012.The Seoul Central District Court also acquitted him of allegations that he gave some 600 million won in bribes to a government official for
IndustryJune 23, 2016
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Hyundai Merchant set to join world's largest shipping alliance
The financially troubled Hyundai Merchant Marine Co. on Thursday said that its talks to be part of the world's largest shipping alliance have made significant progress, raising hopes that the negotiation will soon be completed. Hyundai Merchant said it has been seeking to join the group, 2M, spearheaded by AP Moller-Maersk A/S.Hyundai Merchant has been implementing tough restructuring moves set by its creditors. The creditors, led by the state-run Korea Development Bank, demand that the country'
IndustryJune 23, 2016
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Finance minister to visit China for AIIB meeting
Korea's top economic policymaker will visit China later this week for the first annual general meeting of the Asian Infrastructure Investment Bank and the opening ceremony of the won-yuan direct market there, the ministry here said Thursday.Finance Minister Yoo Il-ho will depart Friday to attend the first AIIB General Assembly in Beijing slated for Saturday, according to the Ministry of Strategy and Finance.Yoo will deliver a keynote speech at the meeting about the role and future of the China-l
June 23, 2016
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Former KT&G chief acquitted of bribery charges
A Seoul court on Thursday acquitted the former head of Korea's leading tobacco maker on charges of receiving kickbacks, citing a lack of credibility in the bribers' testimonies.The Seoul Central District Court found Min Young-jin, who headed the KT&G Corp. from 2010 to 2015, not guilty of receiving some 179 million won ($151,000) in bribes from subcontractors, a company official and a foreign buyer between 2009 and 2012.The court also acquitted the 57-year-old of allegations he gave some 600 mil
IndustryJune 23, 2016
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HMM mulls joining 2M Alliance
[THE INVESTOR] Hyundai Merchant Marine is considering joining the 2M Alliance, a vessel-sharing agreement between Denmark’s Maersk Line and Switzerland’s Mediterranean Shipping Company -- the world’s first and second largest container carriers. Amid growing speculation that Korea’s second-largest shipping company is set to join the alliance, a HMM official confirmed that discussions are ongoing with the alliance parties on June 23. A container vessel is displayed at Hyundai Merchant Marine's hea
IndustryJune 23, 2016
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Economy minister to meet with US business leaders in Korea
[THE INVESTOR] Deputy Prime Minister for Economy Yoo Il-ho will meet with representatives of US businesses in Korea to seek ways to improve economic cooperation, the Ministry of Strategy and Finance said on June 23. At the June 30 conference organized by the American Chamber of Commerce in Korea, Yoo will give a special address and hold meetings with GM Korea chief James Kim to discuss ways to improve Korea-US cooperation and economic issues in the two countries.Deputy Prime Minister for Economy
IndustryJune 23, 2016
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Gov't to strive to reduce impact of corporate restructuring: finance minister
Korea's finance minister said Thursday that the government will make all-out efforts to minimize the possible fallout in the local economy from tough corporate restructuring in the shipbuilding sector."The government will map out plans to support smooth corporate restructuring and business reorganization, and to improve the competitiveness of key industries," Finance Minister Yoo Il-ho said while visiting a shipyard in Ulsan, an industrial city on the southeastern coast."We will mobilize all mea
June 23, 2016
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Samsung SDS shareholders send open letter to Lee Jae-yong
[THE INVESTOR] Minor shareholders of Samsung SDS are raising the heat, accusing the firm of neglecting profits to ensure Lee family’s control over the group. In a letter addressed to Samsung Electronics vice chairman Lee Jae-yong, minor shareholders of Samsung SDS called on him to take steps for improving the share price. Samsung Electronics vice chairman Lee Jae-yong.“A decision to improve stock prices is needed. Restore the property rights of the minor shareholders that was lost (by the decisi
IndustryJune 23, 2016
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VW offers apology with no mention of Korea
[THE INVESTOR] Volkswagen held its first annual shareholders meeting in Hanover, Germany, on June 22 (local time), the first in nine months since it became embroiled in the emissions rigging scandal.While the senior management and directors apologized and explained its ongoing recall plans in Germany and the US, there were no mention of compensatory measures for victims from other countries, including Korea, where 125,522 units were affected. “On behalf of the Volkswagen Group and everyone who w
MobilityJune 23, 2016
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[Photo News] Galaxy Studio
A visitor observes Galaxy S7 and Gear Fit 2 at Samsung Galaxy Studio set up at the Cannes Lions International Festival of Creativity in France. The studio runs through June 25. (Samsung Electronics)
June 23, 2016
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S. Korea, U.S. team up to research animal diseases in wildlife
The research arms of South Korea and the United States devoted to dealing with wildlife diseases, have joined together to cooperate in tackling avian influenza, rabies and other animal-transmitted diseases, a state-run think tank said Thursday.The National Institute of Environmental Research signed a letter of intent early this month with the National Wildlife Research Center, a research facility within the U.S. Department of Agriculture, to carry out joint research activities in the sector of i
TechnologyJune 23, 2016
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S. Korea's seaport cargo grows 1.4 % on-year in May
Cargo processed at Korean seaports rose from a year earlier in May, the government said Thursday, possibly reflecting improvements in the country's exports.Cargo handled at the country's seaports came to 124.46 million tons last month, marking a 1.4-percent on-year rise and a turnaround from a 1.2-percent decline in the previous month, according to the Ministry of Oceans and Fisheries. The increase was attributed to a rise in non-container cargo, which gained 1.6 percent on-year.Container cargo,
June 23, 2016
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[ANALYST REPORT] Korea's slower growth has limited impact on sovereign credit profile: Moody's
Moody‘s Investors Service says that against a backdrop of weak external demand, Korea’s (Aa2 stable) export-dependent growth model has come under pressure. The consequently weakening operating environment underpins the negative outlook on the banking system. However, Moody‘s expects Korea’s fiscal, institutional and external metrics to remain strong when compared to rating peers, which supports the stable outlook on the sovereign rating.In a just-released report titled “Government of Korea: FAQ
June 23, 2016
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Hyundai’s i30 compact Australia’s best-selling car for 3 months in row
[THE INVESTOR] Hyundai Motor’s i30 compact maintained it spot as Australia’s best-selling vehicle for the third consecutive month in May, government data showed. The data compiled by Australia’s Federal Chamber of Automotive Industries showed that South Korea’s top automaker sold 3,771 units of its i30 compact in Australia in May, up 126 percent from a year earlier. i30Toyota Motor’s Hilux took the second place with sales of 3,675 un
MobilityJune 23, 2016
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Korea’s exports to China shrink for 11 consecutive months
[THE INVESTOR] Korea’s monthly exports to China shrank for the 11th consecutive month in May, matching the record set in 2008 and 2009, industry data showed on June 23. According to the Korea International Trade Association, Korea’s exports to China came in at US$9.93 billion in May, falling 9.1 percent from a year ago. Korea’s exports to China have shown year-on-year drop since July 2015. However, the rate of decrease has slowed in recent months, the data showed. From December to April, Korea’s
June 23, 2016
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Drop in Korea's exports to China extends to record streak in May
South Korea's exports to China continued to shrink from a year earlier in May, tying the record streak of 11 months of decrease, industry data showed Thursday.Outbound shipments to China came to US$9.93 billion won last month, down 9.1 percent from the same month last year, according to the data from the Korea International Trade Association.The decline apparently contributed to a 6 percent on-year drop in the country's overall exports. China by far is the world's single largest importer of Sout
IndustryJune 23, 2016
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Lotte has dozens of units in suspected tax havens: data
Lotte Group, South Korea's fifth-largest family-controlled conglomerate, operates some four dozen overseas units in suspected tax havens, data showed Thursday, in a potential blow to the embattled group under investigation for alleged wrongdoing.According to the data by corporate tracker Korea 20000 Corporate Research Institute, 46 of Lotte's 256 overseas subsidiaries are based in suspected tax havens as of 2016.Lotte has 26 subsidiaries, the largest amount, in Hong Kong, followed by Singapore w
IndustryJune 23, 2016