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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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Robert J. Fouser] Social attitudes toward language proficiency
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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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Samsung heir pledges support for start-ups
Samsung Group heir apparent and Samsung Electronics vice chairman Lee Jay-yong on Tuesday visited the group’s start-up incubation centers in Daegu and North Gyeongsang Province to discuss future support plans. The centers opened last year, joining a government-led initiative that aims to nurture start-ups and venture companies across industries. Lee attended the opening ceremony of each center together with President Park Geun-hye.During the visit, Lee, the de facto leader of South Korea’s large
TechnologyJuly 21, 2015
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LG CNS, Sonnedix sign $112m solar power deal
LG CNS, a leading Korean information technology solution provider, said Tuesday it has secured a 130 billion won ($112 million) project to build a 33-megawatt solar power plant on the island of Kyushu, Japan. Together with the latest deal, the company has won three solar power projects in Japan, with their combined power capacity reaching 43 megawatts. The company said the plant will be located in the city of Imaichi, Oita Prefecture. Its construction will take about two years. Its sister compa
TechnologyJuly 21, 2015
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Staff cuts are not option for restructuring: DSME
Daewoo Shipbuilding & Marine Engineering said Tuesday that its restructuring will focus on selling noncore properties and stock assets, dismissing news reports of workforce reduction.Rumors about DSME’s possible job cuts emerged after company CEO Jung Sung-leep announced over the weekend that the shipbuilder would launch a restructuring program aimed at cutting costs, including relocating manpower and job rotation.The CEO fanned speculation of massive layoffs when he said at the company’s worksh
IndustryJuly 21, 2015
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Samsung to unveil new flagship smartphones on Aug. 13
South Korean smartphone-maker Samsung Electronics has finally set the launch date and venue of its upcoming smartphones ― the Galaxy Note 5 and Galaxy S6 Edge Plus ― for Aug. 13 in New York, according to news reports.A Samsung official was quoted by a local news outlet as saying that “the Korean firm has sent invitations to its customers and partners for the New York unveiling event on Aug. 13.” Samsung Electronics’ Galaxy Note 4. SamsungIt had been rumored that the launch event would be advance
TechnologyJuly 21, 2015
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NCSOFT, NVIDIA team up to develop multiplatform game
South Korean online game developer NCSOFT said Tuesday it would beef up its partnership with U.S. chipmaker NVIDIA to complete the development of its upcoming role-playing game “Lineage Eternal.”Lineage Eternal (NCSOFT)In order to deliver vivid and immersive visual effects, NCSOFT said it would deploy the latest computer graphics technology from NVIDIA. The Korean game developer has been collaborating with the U.S. graphics chipmaker for many years. Most recently, the companies held a test run o
TechnologyJuly 21, 2015
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[SUPER RICH] Shin Dong-bin gains complete control of Lotte, both in Korea, Japan
At the age of 60, Lotte Korea chairman Shin Dong-bin finally achieved his desire of getting a full grip of Lotte in Japan. Lotte Holdings of Japan announced last Thursday that the board of directors unanimously agreed to name him the company’s president. Now Lotte Holdings has three presidents -- Shin Dong-bin, his father and Lotte founder Shin Kyuk-ho and Japanese CEO Tsukuda Takayuki. But there is little doubt that Shin has overall control of the firm. In March, Tsukuda was seen “bowing polite
IndustryJuly 21, 2015
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Korea mulls curbs on capital outflow
Finance Minister Choi Kyung-hwan indicated Tuesday that the government may take action to stabilize financial markets if there is a sudden capital outflow.Minister Choi also tried to ease concerns among foreign shareholders about the nation’s negative views on short-term speculative investments. Choi Kyung-hwan, deputy prime minister and minister of strategy and finance. Yonhap“If the U.S. Fed rate hike gives a severe boost to capital outflow (from Korea), we may revise the system and bring in m
July 21, 2015
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[SUPER RICH] Superrich aid protection of endangered animals
The world’s wildlife is under threat. The Worldwide Fund for Nature’s Living Planet Index, which monitors populations of over 3,000 vertebrates, has decreased 52 percent over the last 40 years, and a report in the journal Nature in December found that 26 percent of mammals had become endangered.Many countries and animal organizations strive to conserve animals, and the immense financial backing of billionaires can have a huge impact on their efforts.These superrich are at the forefront of protec
IndustryJuly 21, 2015
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[Herald Interview] ‘Korea driven by co-governance business system’
While the story of South Korea’s so-called economic miracle achieved on the back of strong state intervention has been widely attributed for its rise as an advanced economy, a new type of business system has now taken root driving forward innovation, according to a business scholar.As state intervention in the economy has waned dramatically through waves of deregulation and liberalization since the 1980s, a different system is propelling Korea’s economic development today, said Xiaoke Zhang, a p
IndustryJuly 21, 2015
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Nike Korea names new CEO
Nike Korea announced Tuesday that it had appointed David Wook-hwan Song as its new CEO.Song has worked at Nike for 17 years, starting from Nike Sports Korea in 1994, and has shown talent for sales, strategy planning, logistics and management in Korea, China and other Asia Pacific regions.Wook-hwan SongHe completed an MBA course at Harvard in 2001 and also worked as an associate at McKinsey & Company for two years before returning to Nike in 2003.Nike Korea said that Song has also worked as a rep
IndustryJuly 21, 2015
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[Graphic News] Korea suffers age disparity in unemployment
South Korea has relatively low unemployment, but its young workers have the biggest comparative disadvantage to their middle-aged peers of any country in the Organization for Economic Cooperation and Development, a report showed Monday. In its report on youth employment, the Bank of Korea said the nation’s youth (aged 15-29) unemployment rate reached 8.0 percent in 2013. This figure was lower than in major European economies. The youth unemployment rate was 42.4 percent in Spain, 29.6 percent in
July 21, 2015
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Government to sell Woori Bank to group investors
The financial authority decided to sell its dominant stake in Woori Bank to a group of investors, scrapping its earlier stance to find a single bidder.The number of investors is expected to be set at between three and 10 on the basis of a split-based holding among a group of oligopolistic stakeholders, according to the Public Fund Oversight Committee.The PFOC, an arm of the Financial Services Commission, Tuesday unveiled its revised method to sell the state-controlled bank. This marked the fifth
July 21, 2015
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[Photo News] New Samsung budget smartphone
NEW SAMSUNG BUDGET SMARTPHONE -- South Korean tech giant Samsung Electronics released its low-end, selfie-oriented Galaxy J5 smartphone in the domestic market on Tuesday. The smartphone which is fitted with a 5.0-inch super AMOLED display and a 5MP front-facing camera allows users to take 120-degree wide-angle selfies. Samsung NEW SAMSUNG BUDGET SMARTPHONE -- South Korean tech giant Samsung Electronics released its low-end, selfie-oriented Galaxy J5 smartphone in the domestic market on Tuesday.
TechnologyJuly 21, 2015
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[Photo News] LG Display seeks coprosperity
LG DISPLAY SEEKS COPROSPERITY -- LG Display chief executive Han Sang-beom (second from left, front row) and Ahn Choong-young (second from right), chairman of the Korean Commission for Corporate Partnership, pay a visit to a production line of Osung Display, one of LG Display’s partners, in Yangju, Gyeonggi Province, on Tuesday. LGD
TechnologyJuly 21, 2015
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S. Korean exports to recover in H2: finance minister
South Korea's exports are expected to bounce back in the second half of this year, which could allow the nation's trade volume to top the $1 trillion mark for a fifth year in 2015, the top economic policymaker said Tuesday. Speaking at a meeting with foreign news correspondents in Seoul, Finance Minister Choi Kyung-hwan said outbound shipments are on the mend after a poor showing in the first half. According to government data, exports fell 5.1 percent on-year to $268.7 billion in the January-
July 21, 2015
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Hanwha Q Cells to form JV with Indian firm for solar power plants
Hanwha Q Cells Co., the world's leading solar cell maker, said Tuesday it will form a joint venture to build large-scale solar power plants in India in a bid to expand its presence in the fast-emerging market. Hanwha Q Cells will join forces with ReNew Power Ventures Pvt., one of India's leading renewable power companies, to build two solar power plants with a total capacity of 148.8 megawatts in the central Indian state of Telangana. The joint venture will begin construction of the faciliti
IndustryJuly 21, 2015
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Samsung heir visits provincial startup centers
Lee Jae-yong, the heir apparent of South Korea's top conglomerate Samsung Group, visited two startup support centers in the southeastern part of the country Tuesday, marking his first public appearance after last week's key shareholder vote on the merger of two group units. Lee visited the so-called innovation centers in Gumi, 261 kilometers southeast of Seoul, and Daegu, some 300 kilometers from the capital city. The two centers were opened in December and September last year, respectively.
IndustryJuly 21, 2015
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New regional FTA talks slated for next month in Myanmar
South Korea and 15 other countries will hold a fresh round of talks on a regional free trade agreement in Myanmar next month amid stepped-up efforts to wrap it up by year-end, officials here said Tuesday. The upcoming round of talks on the Regional Comprehensive Economic Partnership, the ninth of its kind, will be held in Naypyidaw on Aug. 3-7, according to the Ministry of Trade, Industry and Energy. The RCEP negotiations involve South Korea, Japan, China and all 10 member countries of the Ass
July 21, 2015
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Investors pour money into short-term vehicles amid low rates
Investors have growingly shifted their money to short-term financial instruments, such as money market funds, in 2015 as interest rates have hit rock bottom, data showed Tuesday. Money market funds are short-term debt securities, such as Treasury bills and commercial papers. They are widely considered as safe as bank deposits yet provides a higher return. The net asset value of MMFs came to 38.23 trillion won ($33.1 billion) as of Thursday, surging 46.4 percent from the end of last year, acco
July 21, 2015
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Turnover of derivatives market soars 22 pct in H1
The trading volume of the derivatives market soared in the first half from a year ago, recovering from years of decline on the back of a bullish stock market, the bourse operator said Tuesday. The derivatives market had 338 trillion contracts in total in the January-June period, up 22 percent from a year ago, the Korea Exchange said. Among them, KOSPI 200 options that track the nation's 200 largest shares on the main bourse posted a 9.1 percent on-year hike to 1.98 million contracts per day,
July 21, 2015