Most Popular
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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Ador CEO's dismissal to be decided on last day of May
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Science Ministry expresses regret over Japan’s pressure on Naver
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Haeundae Beach to become sand art museum in late May
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Hostilities get out of hand as YouTuber murders another outside courthouse
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Yoon interacts with public for 1st time since election defeat
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[Weekender] Pet food makers bet big on ‘recession-free’ pet food market
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Police officer jumps barefoot into drainage tunnel to save man
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Lee Sun-kyun's posthumuous film to hit theaters in August
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N. Korea says to deploy new multiple rocket launcher starting this year
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KT joins forces with DreamWorks Animation
Korean telecommunications companies are desperately seeking ways to overcome breakneck competition in the local mobile network sector.One such effort involves beefing up their media platform businesses, often considered as their future growth engine.On Wednesday, network operator KT joined hands with U.S. filmmaker DreamWorks Animation to provide the latter’s animation content on KT’s IPTV service olleh TV.DreamWorks has produced mega-hit animated movies such as “Shrek,” “Kung Fu Panda,” “How to
TechnologyApril 20, 2016
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Funds in stock accounts hit record on hopes of higher returns
With no suitable or attractive assets to invest in amid low interest rates, the market is seeing more and more investors parking their money -- mostly savings -- into stock or mutual trust accounts offered by brokerages rather than banks’ savings accounts.Offering higher yields than deposit rates and relatively stable returns over the benchmark interest rates with flexible transactions, brokerages saw their outstanding balance of cash management accounts reach a record 52.6 trillion won ($46.3 b
April 20, 2016
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'Samsung Display's automotive push late but in right direction'
SHENZHEN, China -- Samsung Display’s latest automotive push may have come late but it is the right direction for its future profitability, a top analyst told The Korea Herald on Tuesday. “Car is becoming an electronic, smartphone-based device. And you need displays to go with it,” said Paul Gray, principal analyst of market research firm IHS.“Those applications are also far more valuable. You are working with companies where you can secure businesses for three to five years as opposed to consume
TechnologyApril 20, 2016
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GS Caltex bolsters safety first management
GS Caltex is bolstering its safety management in its facilities to fulfill its commitment to creating safe environment at workplaces, company officials said Tuesday.The nation’s second-largest oil refiner has pushed for a safety-first management since its vice chairman Huh Jin-soo pledged to strive to check every small process to ensure employee safety last year.GS Caltex’s Safety Training Center in Yeosu (GS Caltex)Under the management, new employees have a mandatory 60-hour safety training cou
April 20, 2016
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Japanese exports drop as strong yen clouds trade picture
Japanese exports to key market China fell back in March after a brief holiday-linked boost, official data showed Wednesday, as a stronger yen clouds the country's trade picture.The figures also showed Japan's trade surplus hit 755 billion yen, ($6.9 billion), more than tripling from a year ago and its highest level in five-and-a-half years, largely thanks to a fall in oil prices.The drop in Japan's shipments to China, down 7.1 percent from the same month last year, came after a rise in February,
April 20, 2016
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Finance minister says no immediate plan for extra budget
Korea's finance minister said Wednesday that he has no immediate plan to draw up a supplementary budget to stimulate the economy, but hinted at cutting the country's 2016 growth target from 3.1 percent."I'm not considering an extra budget as of now," Finance Minister Yoo Il-ho said in a press conference to mark his 100th day in office. "I will use any fiscal measures to prop up the economy when we have a sudden spell of challenges at home and abroad. But I don't think the country is not in such
April 20, 2016
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Korea, China hold high-level economic talks
Korea and China held their high-level economic talks Wednesday as they seek to capitalize on their free trade agreement (FTA) that took effect last year, a key framework to boost bilateral economic cooperation.Second Vice Foreign Minister Cho Tae-yul and Chinese Vice Commerce Minister Gao Yan led the joint economic committee session to discuss the implementation of the bilateral open trade pact and recent trends in the global economy and the economies of the two countries. Second Vice Foreign Mi
April 20, 2016
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More Korean customers to sue Audi, BMW over tax refunds
Three additional Korean owners of major foreign auto brands will file lawsuits against their local units here, demanding they be compensated for unpaid tax refunds, their legal representative said Wednesday.The three owners of the Audi or BMW vehicles will file the suits with the Seoul Central District Court, according to Barun, a local law firm that will represent the customers. The suits are intended to get compensation for what they claim are damages caused by the foreign brands' decision to
MobilityApril 20, 2016
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Kia Motors' Sportage sales in Europe hit record high in March
Kia Motors, Korea's second-largest carmaker, saw its sales of the Sportage SUV in Europe hit a record high last month thanks to strong demand for its latest model, industry data showed Wednesday.According to the data, Kia Motors sold a total of 18,092 units of the Sportage in Europe in March, up 43.6 percent from year earlier. Of them, the sales of its latest fourth-generation Sportage stood at around 14,000 units. The all-new Sportage was first unveiled in September for European customers but i
MobilityApril 20, 2016
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Mobile messengers expanding presence to financial transactions
The operators of mobile messengers are expanding their roles from just connecting users to a wider scope to cover financial transactions, industry watchers said Wednesday, as more users preferred to have a single comprehensive application over installing many.In line with the trend, the operator of KakaoTalk, Korea's most popular mobile messenger, said it will allow users to make banking transactions in the chat screen without having to open another application.Although Kakao currently operates
IndustryApril 20, 2016
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Korea's exports of used cars spike over 20% in Q1
Korea's exports of used vehicles jumped over 20 percent on-year during the first quarter, helped by the weak local currency that boosted their price competitiveness in overseas markets, industry data showed Wednesday.According to the data provided by trade and automotive associations here, Korea exported 59,142 used cars during the January-March period, up 23.4 percent from the same period a year earlier. Of the total, 42,352 units were passenger vehicles, while the remainder was trucks and othe
MobilityApril 20, 2016
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4 firms win award for strengthening Korea-China economic ties
Four Korean companies including Hyundai Motor Group will receive an award for contributing to boosting bilateral economic ties with China, trade and economic associations from the two countries said Wednesday.The companies, also including SK Networks, LG Display and LS Group, were picked for the grand award granted jointly by the China Council for the Promotion of International Trade and three other trade organizations.They were chosen based on a comprehensive evaluation of their contributions t
April 20, 2016
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Antitrust watchdog dwells on SK Telecom's takeover deal
Korea's antitrust watchdog has been deliberating top mobile carrier SK Telecom's takeover of the country's No. 1 cable TV operator for more than four months, fueling speculation it may grant conditional approval to the controversial deal, watchers said Wednesday.In November last year, SK Telecom signed a 1 trillion won ($880 million) deal to purchase CJ Hellovision from its parent firm CJ O Shopping, the home shopping unit of food and entertainment conglomerate CJ Group. SK Telecom plans to merg
IndustryApril 20, 2016
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Best Korean hotel booking application
Among the many accommodation booking applications, WithInnovations’ Yeogi-Eoddae took the crown as the “most-used app” in the Accommodation and Leisure Application criteria for three consecutive months. Yeogi-Eoddae translates to "How's this place?"According to market research firm Nielsen Korea on Wednesday, Yeogi-Eoddae marked 680,000 monthly Android users in March, leading by a great margin over runner-up Yanolja which recorded 456,000 users. Daily Hotel followed with 387,000 users and Skysc
IndustryApril 20, 2016
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Incheon named best airport in the world for 11th year
GOLD COAST, Australia -- Incheon International Airport was named the best airport in the world by the international airport council for the 11th consecutive year at an awards ceremony in Gold Coast, Australia, Tuesday.The honor comes as Korea’s largest international airport, led by newly appointed CEO Chung Il-young, works on improvements and expansions including a second terminal to be completed next year.Incheon International Airport won a total of three honors from the Airports Council Intern
IndustryApril 20, 2016
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Struggling economy faces resurging economic democratization
President Park Geun-hye and her economic aides have suggested the ruling party’s crushing defeat in last week’s general election will not weaken their efforts to accelerate structural reforms, deregulation and industrial renovation.They say that completing such tasks are crucial to create more jobs for young people and boost the country’s growth potential over the long term.At a meeting with her senior secretaries Monday, Park said she would humbly respect voters’ will reflected in the election
April 20, 2016
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[Photo News] Asiana Airlines volunteers in the Philippines
CSR IN PHILIPPINE -- Executives and employees of Asiana Airlines pose with children during volunteering activities in Asiana Village in the Philippines on Tuesday. The air carrier has helped improve sanitary conditions of the village it built in 2013 as part of its corporate social responsibility program. (Asiana Airlines)
IndustryApril 20, 2016
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[Market Now] Taeyoung E&C wins 794.2 billion won contract
Korea’s mid-tier builder Taeyoung Engineering & Construction said it has won a 794.2 billion won ($701.4 million) project finance contract from its subsidiary developer M Cieta Development to build a multipurpose complex in Gwangmyeong, Gyeonggi Province.The amount is 42.2 percent of the company’s revenue last year, the company said. It said the duration of the contract is 55 months from the date of groundbreaking. The multipurpose complex to be built on 74,052 square meter land near Gwangmyeong
IndustryApril 20, 2016
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Producer prices hit 6-year low in March
Korea’s producer prices fell to the lowest level in six years due mainly to cuts in energy prices, central bank data showed Wednesday.The producer price index, which shows inflation pressures before they reach consumers, came in at 98.42 last month, the lowest March reading since 2010, according to preliminary data from the Bank of Korea. From a month earlier, it represented a decline of 0.1 percent. From the same month last year, it was down 3.3 percent. The central bank said the decline was la
April 20, 2016
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Seoul stocks open higher on U.S. gains, foreign buying
South Korean stocks opened higher Wednesday, mainly on foreign buying. The benchmark Korea Composite Stock Price Index gained 8.17 points, or 0.41 percent, to 2,019.89 in the first 15 minutes of trading. Seoul share prices are displayed at the Korea Exchange. (Yonhap)Sentiment was also bolstered by overnight gains on Wall Street, according to analysts. The Dow Jones industrial average closed up 0.27 percent to 18,053.60 points, but the Nasdaq Composite Index ended 0.40 percent lower at 4,940.33
April 20, 2016