Most Popular
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Yoon apologizes for first lady Dior bag scandal, calls push for special probe ‘political’
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Korea forecast to overtake Taiwan in chip production by 2032: report
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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] Can K-pop break free from ‘fandom’ model?
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YouTuber fatally stabbed on livestream by another YouTuber in Busan
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Yoon rebuffs opposition's call for special probe into wife
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Stray Kids hit with racism in Met Gala photo line
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No plan to let doctors with foreign licenses practice here anytime soon: PM
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[News Analysis] Yoon's first 2 years marked by intense confrontations, lack of leadership
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Yoon apologizes for wife's 'unwise conduct'
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Korean Air wraps up 2015 mission of planting love, hope
From small communities in Korea to flood-stricken Nepal, Korean Air wrapped up its annual mission to support people in need around the world, fulfilling its corporate responsibility as the nation’s largest air carrier. Employees of Korean Air pose for photo after planting trees in the Baganuur Desert in Mongolia. Korean AirAccording to the company, it has completed a series of sharing projects to relieve the pain of people suffering from poverty and isolation through joint efforts by its senior
IndustryDec. 21, 2015
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[Photo News] Mobile carriers prep for holidays
MOBILE CARRIERS PREP FOR HOLIDAYS — Korea’s three major mobile carriers SK Telecom, KT and LG Uplus said Monday in their respective statements that they would closely monitor and manage communication infrastructure, including base stations, across the nation during the year-end holiday season when telecom and data traffic are expected to surge much more than usual.(SKT) MOBILE CARRIERS PREP FOR HOLIDAYS — Korea’s three major mobile carriers SK Telecom, KT and LG Uplus said Monday in their resp
TechnologyDec. 21, 2015
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KOGAS denies report on gas field investment in Iran
Korea Gas Corp. on Monday denied a local report that it plans to invest in South Pars gas field in Iran, making it the first Korean company to invest in the Middle East country that had been slapped with international economic sanctions over its nuclear program.According to local reports quoting officials at the Trade Ministry, the state-run company recently sent its officials to discuss ways to invest in the world’s largest gas field, which has been running behind in its development schedule du
IndustryDec. 21, 2015
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[Photo News] LG robotic vacuum cleaner with augmented reality
ROBOTIC VACUUM WITH AR TECH -- LG Electronics said Monday it would unveil the Roboking Turbo Plus, a robot vacuum cleaner equipped with augmented reality technology, at the International CES, the world’s largest electronics trade show to be held in Las Vegas from Jan. 5-8. (LGE) ROBOTIC VACUUM WITH AR TECH -- LG Electronics said Monday it would unveil the Roboking Turbo Plus, a robot vacuum cleaner equipped with augmented reality technology, at the International CES, the world’s largest electr
TechnologyDec. 21, 2015
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‘Distriparks’ at heart of mission to create East Asian maritime hubs
More and more companies are eyeing Korea’s hinterland industrial-commercial complexes, which grant not only geographical benefits for logistics traders but also various tax perks to the residing firms. The “Distripark” sites, once simply storage or logistics-related locations, are rapidly becoming hot spots for multi-business and residential areas of the seashore.According to the Ministry of Oceans and Fisheries, more than 145 companies have decided to nestle in the country’s four major complexe
IndustryDec. 21, 2015
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Household debt burden grows in 2014
An average Korean household spends nearly 24 percent of its total disposable income on meeting debt obligations data showed Monday, amid concerns over record-level household debt. As of March, an average Korean household has 342 million won ($290,800) in total assets, 61.8 million won in debt and an annual disposable income of 39 million won. All three grew modestly from a year ago, but the income marked the fastest gain of 2.7 percent. (123rf)These are some of the key findings contained in
Dec. 21, 2015
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POSCO E&C to build landmark in Busan
POSCO Engineering & Construction is taking on the challenge of building Korea’s tallest residential apartment complex --“LCT The Sharp” -- near Haeundae, Busan. It was chosen in July to undertake the construction. The apartment complex will consist of three buildings, a 411.6-meter, 101-story landmark tower and two 85-story residential apartments both 339.1 meters high.The landmark tower will house an observatory, a tourist hotel run by Lotte Hotel and a residence hotel for long-term stay. The t
IndustryDec. 21, 2015
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Seoul shares up 0.3% on Moody's rating upgrade
South Korean stocks gained 0.3 percent on Monday as Moody's upgrade of the nation's credit rating boosted investor sentiment here, defying renewed worries over a global oil glut. The local currency also strengthened against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 5.84 points to 1,981.16. Trade volume was thin at 532.53 million shares worth 2.68 trillion won ($2.27 billion), with winners beating losers 434 to 374.Investor sentiment was lifted after Moody's Investors
Dec. 21, 2015
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Bidding for Daewoo Securities ends
Four entities have placed bids to buy the country's second-largest brokerage house Daewoo Securities Co. in a deal that could be a possible game changer for at least three of the four prospective buyers, informed sources said Monday.The prospective buyers are KB Financial Group Inc., the largest banking giant by assets; the country's leading asset management expertise firm Mirae Asset Group; Korea Investment Holdings Co.; and the employee stock ownership association led by Daewoo's labor union.T
IndustryDec. 21, 2015
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Korea, China agree to expand cooperation in carbon trading
South Korea and China agreed Monday to expand their cooperation on emissions trading that includes joint efforts to link the countries' carbon trading markets, Seoul's carbon trading market operator said.The Korea Exchange, also the country's bourse operator, said it signed a memorandum of understanding for cooperation with China Beijing Environment Exchange.Under the agreement, the sides will exchange market information and share their experience."They will also work together toward market link
Dec. 21, 2015
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KT&G launches The One Gold Label
The One Gold Label (KT&G)KT&G, the country’s largest tobacco-maker by market share, on Monday launched the premium edition of its The One brand with micro charcoal filters. Dubbed “The One Gold Label,” the new edition applies triple-layered micro charcoal filters that maximize the clean finish, in addition to premium quality tobacco leaves, the tobacco-maker said in a press release. The gold label came after three years of research and development, targeting demand for premium cigarettes, KT&G
IndustryDec. 21, 2015
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Seoul shares down 0.08% in late morning trade
South Korean stocks traded 0.08 percent lower late Monday morning on subdued investor sentiment following Wall Street's sharp losses on Friday, despite the upgrade of the country's rating by Moody's. The benchmark Korea Composite Stock Price Index inched down 1.5 points to 1,973.82 as of 11:20 a.m.Shares gained ground in early morning trading after Moody's Investors Service on Saturday upgraded South Korea's credit rating one level to Aa3, citing its prudent fiscal stance, but foreign-led sellin
Dec. 21, 2015
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Korean household debt rises in 2015: data
South Korean household debt rose in2015 from a year earlier as people with high incomes moved to buy homes, government data showed Monday.According to Statistics Korea, the average household was 61.81 million won ($52,500) in debt as of late March of this year, up2.2 percent compared to the year before. Of the total, 69.9 percent, or 43.21 million won, was financial loans, up 4.9 percent on-year, with the rest in security deposits that must be paid back down the line.Data showed that 64.3 percen
Dec. 21, 2015
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Samsung breaks ground for 3rd bio factory in Korea
Samsung BioLogics Co., a pharmaceutical arm under South Korea's top conglomerate Samsung Group, said Monday that it will build its third production line in the country by 2017, as part of an effort to focus on securing a new growth engine.Under the plan, Samsung BioLogics will invest 850 billion won ($721 million) to build the facility in Songdo, west of Seoul, which will make the firm the world's top contract manufacturing organization.The new facility will boast an annual production capacity o
IndustryDec. 21, 2015
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Samsung Engineering wins $550 mln plant order
Samsung Engineering Co., the plant engineering unit of South Korea's top conglomerate Samsung Group, said Monday that it has received a 649 billion won ($550 million) order to improve a refining plant in Mexico.Under the deal with Petroleos Mexicanos, Samsung Engineering will upgrade the plant with a capacity of 53,000 barrels of ultra-low sulfur diesel by the end of 2018.The deal also includes building a new plant in Salamanca, northwest of Mexico City, which produces 38,000 barrels of ULSD by
IndustryDec. 21, 2015
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Seoul shares start higher on Moody's credit upgrade
South Korean stocks opened higher Monday as the upgrade of the country's rating by Moody's over the weekend boosted investor sentiment here. The benchmark Korea Composite Stock Price Index added 4.51 points, or 0.23 percent, to 1,979.83 in the first 15 minutes of trading.Petrochemical shares bounced back from last week's loss.Top refiner SK Innovation rose 2.28 percent, and No. 3 S-Oil jumped 4.07 percent.Korea Aerospace Industries sank 3.6 percent after a T-50 trainer jet crashed during an air
Dec. 21, 2015
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Credit upgrade mitigates risk of capital flight: Choi
Deputy Prime Minister Choi Kyung-hwan speaks at a press conference in Seoul on Sunday. (Yonhap)Deputy Prime Minister Choi Kyung-hwan said Sunday that Moody’s recent upgrade of Korea’s credit rating mitigates the potential risk of capital flight from Korea, a key concern for emerging economies after the U.S. initiated its first interest rate hiking cycle in nearly a decade. "There have been worries that Korea could be at the same risk with newly emerging markets, but Moody’s move could be seen a
Dec. 21, 2015
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SK launches W30b fund to support start-ups
SK Group on Sunday launched a 30 billion won ($25 million) fund that aims to support tech start-ups in the fields of agriculture and fisheries. The fund targets venture firms and young entrepreneurs based in Daejeon and the neighboring Sejong area where SK opened a start-up acceleration center in July to join a government-led initiative across industries. With the latest funding, SK has secured a combined 75 billion won to support venture firms and start-ups and create an ecosystem for business
TechnologyDec. 21, 2015
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Foreigners turn net sellers of Korean shares in 2015
Foreign investors turned net sellers of South Korean stocks this year, snapping their three-year buying streak, data showed Monday. Offshore traders sold a net $154 million on the main KOSPI market during the first 11 months of the year, according to the data compiled by the Korea Exchange. From Dec. 1 until last Friday, they offloaded $2.53 billion.It is the first time since 2011 that foreigners shunned local stocks. They picked up a net $5.89 billion worth of shares last year, $5.09 billion in
Dec. 21, 2015
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EQ900 gives glimpse of what autonomous driving will look like
Push the "smart" button on the door and it asks your height and weight. It analyzes the data for a moment and then optimizes the position of the seat before you hit the road.The engine cranks up but the inside remains calm. And when you step on the accelerator, it moves smoothly as if it slides forward on silk. Still, fasten your "mental" seat belt and brace for more, since these might be just the beginning of what you could experience from Hyundai Motor Co.'s newly-launched EQ900 flagship luxur
MobilityDec. 21, 2015