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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What’s next for Elliott?
Attention is being paid to U.S. activist hedge fund Elliott Associates’ next step after it suffered a defeat in a shareholders vote on a merger deal between Samsung C&T and its sister firm last week.At the crucial vote on Friday, nearly 70 percent of Samsung C&T shareholders supported a merger with Cheil Industries. The vote ended C&T’s six-week battle with the fund, which had sought to thwart the Samsung merger plan.After Friday’s result, Elliott said it would reserve all options at its disposa
IndustryJuly 19, 2015
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Lotte eyes Audi dealership business
South Korean retail giant Lotte Group plans to enter the foreign car dealership business as part of efforts to strengthen its penetration into the automotive sector, industry sources said. “Lotte is nearing a deal to take over the dealership business license for Audi cars from Charmzone Motors,” an industry insider who is close to the matter told The Korea Herald under the condition of anonymity. If the deal is sealed as planned, sales of Lotte in car-related businesses (except car insura
MobilityJuly 19, 2015
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Korea lags behind rivals in EV usage
Countries around the globe have been working to expand the development and use of eco-friendly vehicles as part of the world’s increasing push to cut greenhouse gas emissions. As most advanced countries strive to promote green driving, Norway has taken the lead in successfully expanding its global electric vehicle and plug-in hybrid electric vehicle market, according to a recent analysis by industry watcher IHS Automotive.Norway ranked first on the new IHS Automotive Plug-in Electric Vehicle Ind
MobilityJuly 19, 2015
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[Photo News] New Pantech
TechnologyJuly 19, 2015
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NongHyup Bank sees profit jump by 150% in H1
South Korean agriculture cooperative-based NongHyup Bank saw its first-half net profit jump 150 percent from the previous year, meeting its target amount for the first time in years, officials said Sunday.The bank recorded 300.2 billion won ($262 million) in net profit in January-June, up 180 billion won or 150 percent from the same period last year. Of the amount, 213 billion won or 71 percent of its 290 billion won target was achieved in the second quarter.“Despite challenges, we met the due t
July 19, 2015
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KDB, EXIM step out to solve DSME debt crisis
Korea Development Bank and the Export-Import Bank of Korea, the country’s two key state-run banks, have started a large-scale debt restructuring process for Daewoo Shipbuilding & Marine Engineering.Last week, the country’s second-largest shipbuilder reported a loss of 2 trillion won ($1.7 billion) in the second quarter. Liquefied Natural Gas carrier built by Daewoo Shipbuilding &Marine Engineering.KDB, which is DSME’s largest shareholder with a 31.46 percent stake, pledged to normalize the compa
July 19, 2015
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[Photo News] BMW Korea offers golf sponsorship
BMW GOLF SPONSPORSHIP -- BMW Korea CEO Kim Hyo-joon (middle) poses in front of the BMW i8 and BMW 7 Series -- awarded to the hole-in-one players at the BMW Ladies Championship 2015, which was held from July 16-19 in Incheon. The automaker handed out 1.2 billion won ($1 million) in prizes, with the champion taking home 300 million won and a BMW X5. (BMW Korea)
MobilityJuly 19, 2015
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[Photo News] Mercedes-Benz launches new C 200D
THE NEW MERCEDES-BENZ C 200D -- Mercedes-Benz Korea launched The New C 200d, the diesel edition of its New C-Class Series, in Seoul, Wednesday. The vehicle boasts an upgraded 1.6 liter, four-cylinder engine, which helps minimize noise and vibrations. Like other C-Class models, the eco-friendly vehicle is topped with the “ECO start and stop” function, which shuts down the engine even when the vehicle is only briefly stationary. While maintaining CO2 emissions at 152 grams per kilometer, the vehic
MobilityJuly 19, 2015
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[Photo News] GM Korea tops sales service
TOP IN SALES SERVICE — GM Korea CEO Sergio Rocha (right) poses with Korea Management Association Consulting vice president Yoo In-sang in celebration of GM’s high sales service quality levels, on Wednesday. For three consecutive years, GM received the highest score in the sales category in the Korean Service Quality Index, conducted by the KMAC. (GM Korea)
MobilityJuly 19, 2015
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[Photo News] Baseball star wins new Kia K5
THE NEW K5 OFFERED TO BASEBALL STAR — Baseball player Kang Min-ho of the Lotte Giants poses next to the new Kia K5 at the 2015 KBO League All-Star Game in Suwon, Gyeonggi Province, Saturday. Kang, who was selected as the MVP of the night, received the upgraded K5 sedan as part of his prize. (Kia Motors)
MobilityJuly 19, 2015
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[Graphic News] South-North Korean economic gap widens
Major economic indicators show that the economic gap between South and North Korea is widening.According to data released by the Bank of Korea in Seoul last week, North Korea’s nominal gross national income came in at 34.2 trillion won ($29.8 billion) last year, which is roughly 2.3 percent of South Korea’s 2014 GNI of 1,496.6 trillion won. North Korea’s nominal GNI per capita also stood at 1.39 million won, meaning an average North Korean individual produces approximately 4.7 percent of what th
July 19, 2015
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Minister defends measure against telecom subsidy
ICT Minister Choi Yang-hee said Friday that a government measure to curb overheated competition in the Korean wireless industry has yielded positive results.“No one would deny that the Mobile Device Distribution Improvement Act has achieved its initial goal of resolving discrimination against consumers,” said the ICT minister in a press meeting in Gwacheon, Gyeonggi Province, dismissing claims that the act has undermined the global competitiveness of Seoul-based handset-makers such as Samsung El
TechnologyJuly 19, 2015
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Half of conglomerates suffer from high debt
Nearly half of South Korea's large industrial groups are suffering from chronic financial trouble due to high levels of debt, industry data showed Sunday. Out of 48 non-financial business groups on an antitrust watchlist, 23 posted a debt ratio of more than 200 percent on a consolidated basis as of end-2014, according to the data. Twenty one of them saw the ratio hit 200 percent for three straight years. The debt ratios of nine conglomerates, including Dongbu Group, Hanjin Group and Daewoo Shi
July 19, 2015
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Local banks reduce loans to large companies
South Korea's major banks reduced loans to large companies over the past year as they became more reluctant to lend to them amid a series of massive bankruptcies, industry data showed Sunday. Six lenders, including industry leaders Kookmin Bank and Shinhan Bank, extended a combined 95.7 trillion won ($83.5 billion) in loans to large business at the end of June, down 8.5 percent from 104.7 trillion won a year earlier, according to the data. In South Korea, large companies are widely recognized
July 19, 2015
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ABS issuance nearly triples in H1
The issuance of asset-backed securities in South Korea nearly tripled in the first half of this year from a year ago due to a sharp rise in sales of government-led mortgage funds, the financial watchdog said Sunday. A combined 48.2 trillion won ($42 billion) worth of ABS were issued in the January-June period, compared with 17.4 trillion won a year earlier, according to the Financial Supervisory Service. ABS is derived from underlying assets such as car loans, home equity loans, credit card re
July 19, 2015
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NPS to invest 1 tln won in overseas hedge funds next year
South Korea's national pension fund plans to make its first investment in overseas hedge funds next year as part of efforts to secure stable returns, an internal document from the fund showed Sunday. According to the 2016 asset allocation plan obtained by Yonhap News Agency, the National Pension Service will invest 1 trillion won ($870 million) in overseas hedge funds in 2016 out of its overall idle funds valued at 86.5 trillion won. As of end-2016, the state pension manager's investment in ov
July 19, 2015
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Regulator likely to approve Hana-KEB merger later this week
South Korea's top financial regulator is planning to give preliminary approval for the merger of two flagship banks of Hana Financial Group Inc., the country's third-largest banking group by assets, later this week, officials said Sunday. Hana Financial has tried to merge Hana Bank and the Korea Exchange Bank since it acquired the KEB from U.S. buyout fund Lone Star in 2012. Its efforts have dragged on for years as the KEB had strongly opposed the merger until recently, citing its earlier promi
July 19, 2015
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Seoul shares to move in tight range next week
South Korean stocks are likely to trade in a narrow range next week as the second-quarter earnings season kicked off on a downbeat note, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 2,076.79 on Friday, spiking 2.24 percent from a week earlier. The index climbed as the Greek debt deal and the rebounding Chinese market lifted investor sentiment, which was corroborated by a landmark deal on Iran's nuclear program on Wednesday. With uncertainties in the glo
July 19, 2015
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Top court again suspends custody of CJ head
The nation's top court on Saturday again accepted a request from the convicted chairman of food and entertainment conglomerate CJ Group to suspend his imprisonment for hospital treatment.The Supreme Court decided to suspend the confinement of Lee Jay-hyun, who was found guilty of various corruption charges, for the next four months, citing his poor health.But Lee's place of stay will be limited to Seoul National University Hospital until Nov. 21, the court said.
IndustryJuly 18, 2015
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Seoul shares to move in tight range next week
South Korean stocks are likely to trade in a narrow range next week as the second-quarter earnings season kicked off on a downbeat note, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,076.79 on Friday, spiking 2.24 percent from a week earlier.The index climbed as the Greek debt deal and the rebounding Chinese market lifted investor sentiment, which was corroborated by a landmark deal on Iran's nuclear program on Wednesday. With uncertainties in the g
July 18, 2015