Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US military commander in S. Korea during Gwangju uprising dies
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[Photo News] Seoul seeks 'best sleeper'
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US expert says N. Korea might ignore Trump if he returns to White House
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Yoon vows to advance freedom, welfare to uphold spirit of 1980 pro-democracy uprising
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S. Korea's exports shrink for 6th straight month in June
South Korea's outbound shipments continued to shrink in June, although its trade surplus widened as imports dropped with greater speed, the government said Wednesday. In June, the country's overall exports came to $46.95 billion, down 1.8 percent from the same month last year, according to the Ministry of Trade, Industry and Energy. June marked the sixth consecutive month the country has posted an on-year drop in its exports. In May, the country's exports tumbled 10.9 percent on-year to $42.39
July 1, 2015
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Samsung suffers setback in Southeast Asian smartphone market
Samsung Electronics Co., South Korea's top tech giant, saw its presence in the Southeast Asian smartphone market decline in the first quarter despite increased shipments, data showed Wednesday, as Chinese rivals took up more of the fast-growing region with budget models. Samsung's smartphone sales in the region rose 28 percent on-year to 5.5 million units in the January-March period, but the company's market share moved down nearly 7 percentage points over the cited period to 23 percent, accord
TechnologyJuly 1, 2015
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Seoul aims to double halal exports by 2017
The government on Tuesday announced a plan to double Korean exports of halal food to $1.5 billion by 2017.Under the plan, the Agriculture Ministry plans to set up a local standardized system for halal by the end of this year, doubling the budget for the plan to 2 billion won ($1.8 million). Halal is food approved by Muslim law as fit for eating.The move aims at relieving Korean halal food exporters from the burden of having to seek halal certificates separately from Indonesia, the United Arab Em
June 30, 2015
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[SUPER RICH] SPC chief’s sons come to the fore
The two sons of SPC chairman Hur Young-in are assuming bigger roles in management as the Korean food giant is aggressively expanding its business at home and abroad.In what pundits view as preparations for a transfer of management, the elder son Jin-su and second son Hee-su were registered in May as non-executive board members of its flagship and only stock market-listed affiliated, Samlip Food Corp. The 4 trillion-won ($3.6 billion) food behemoth has 12 brands, including Paris Baguette and Pari
IndustryJune 30, 2015
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Business sentiment hits 6-year low
Manufacturing firms’ business confidence has dipped to the lowest level in more than six years, hit by the outbreak of Middle East respiratory syndrome, data from the central bank showed Tuesday.According to the Bank of Korea, the manufacturing confidence index, called the business survey index, stood at 66 in June, lower than 73 a month before. The monthly BSI marked its lowest figure since it posted 53 in March 2009.An index reading of 100 is the dividing line between positive and negative sen
June 30, 2015
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Regulator gears up to convert bourse into holding company
The nation’s top financial regulator is adding momentum to its plan to remodel the stock operator into a holding company system, a move that prompted backlash from the labor union.The Financial Services Commission and the Korea Exchange summoned board members of local stock companies to a shareholders meeting Tuesday morning, seeking their opinion on the holding company conversion.“We intend to hear our stockholders’ opinions in an open-minded manner,” said KRX chief Choi Kyung-soo, upon enterin
June 30, 2015
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[Photo News] Nurturing student start-up
NURTURING STUDENT START-UP -- LG Group said Monday that it would work with Chungbuk National University to run entrepreneurship programs to incubate future start-ups. The conglomerate also opened the “Idea Factory,” where aspiring entrepreneurs can utilize equipment including 3-D printers to prototype at the university. LG
TechnologyJune 30, 2015
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Cheil Industries vows higher dividends amid merger dispute
Cheil Industries announced Tuesday that it will increase dividend payouts to investors in an apparent attempt to win over stakeholders’ approval of its proposed merger with Samsung C&T.In a bid to sway shareholders, Cheil Industries, the de facto holding company of Samsung Group, called an impromptu investor relations session in Seoul to announce that the payout ratio would gradually be raised to 30 percent by 2020 from 21 percent in 2014. Yoon Joo-hwa, the head of Cheil Industries’ fashion div
IndustryJune 30, 2015
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SK to support smart farm in Sejong
SEJONG ― SK Group, the third-largest conglomerate in South Korea, opened a start-up incubator for agriculture in Sejong City, Tuesday, with a particular focus on using smart technology in farming.In line with the Korean government’s flagship creative economy policy, conglomerates have been collaborating with the Ministry of Science, ICT and Future Planning to set up innovation centers across the nation. The Sejong center is the 14th of its kind.SK Group has operated another center in Daejeon sin
TechnologyJune 30, 2015
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[Photo News] Kumho's support for violinist
Kumho Asiana Group chairman Park Sam-koo (right) poses with violinist Lim Ji-young, the winner of the 2015 Queen Elisabeth Competition at the Lotte Hotel in Seoul, Tuesday. The chairman pledged to offer free business class flight tickets on Asiana Airlines to Lim for a year in a bid to support the talented young musician.(Kumho Asiana)
IndustryJune 30, 2015
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Asiana launches services to Rome
Asiana Airlines has launched a new service to Rome in a bid to expand its footprint in Europe, the South Korean carrier said Tuesday. "The new Incheon-Rome service will strengthen its European network by providing a wider variety of flight schedules, destinations and itineraries, which in turn will raise Asiana’s competitiveness,” Asiana CEO Kim Soo-cheon said.Asiana Airlines CEO Kim Soo-cheon (sixth from left) poses with Tiziana Di Molfetta (seventh from left), councilor at the Italian Embassy
IndustryJune 30, 2015
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[SUPER RICH] Creative, open office spaces of tech giants
Famous tech companies both domestically and abroad are clamoring to create open and creative office environments for their employees, believing that having an enjoyable working environment is a crucial factor in becoming a world-class company.Naver“Green Library” inside Naver headquarters in Bundang, Gyeonggi provinceGiant Web portal Naver moved its headquarters to Bundang, Gyeonggi Province in 2010.The Naver headquarters, nicknamed the Green Factory, is 27 stories high with eight additional und
IndustryJune 30, 2015
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[Graphic News] Koreans spend more time sleeping and eating
The average Korean spent more time sleeping and eating, and less time studying, compared to five years ago, survey results showed Monday.The time use poll on 12,000 households showed that compared to 2009, people spent 21 more minutes on sleeping and eating in 2014, clocking in at 11 hours and 14 minutes of off-time.Time spent studying fell by 17 minutes and commuting by five minutes compared to 2009, while time for wage-generating work and household chores was largely steady, increasing by just
IndustryJune 30, 2015
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[Photo News] Seoul-Qualcomm partnership
TechnologyJune 30, 2015
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[Photo News] Miele 10th anniversary in Korea
TechnologyJune 30, 2015
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Samsung Electronics to offer two-year maternity leave
Samsung Electronics said Tuesday it will start a new paid leave system from July, including a two-year maternity leave. Under the scheme, the Korean tech giant will extend the length of maternity leave to two years from the current legally-binding one year. Still, maternity payments will remain the same, as only the first year is to be compensated, the company said. In Korea, a two-year maternity leave is rarely seen except for some special jobs, such as for flight attendants. Samsung has bolst
TechnologyJune 30, 2015
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Cheil Industries pitches for merger deal with higher dividends
Cheil Industries Inc., the de facto holding company of the country's top conglomerate Samsung Group, pledged Tuesday to deliver more dividends to shareholders, as it seeks to convince investors ahead of a crucial shareholders meeting for a proposed merger with the group's construction arm. The company at the top of the group's cobweb-like governance structure also promised to set up a committee tasked with boosting shareholders value and improving governance after its 8.9 trillion-won ($7.92 bi
CompaniesJune 30, 2015
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Hotel Shilla CEO asks China to encourage tours to S. Korea
The CEO of South Korea's Hotel Shilla Co., Lee Boo-jin, has asked Chinese officials to encourage citizens to make trips to South Korea, the company said Tuesday, as the MERS outbreak shows signs of easing in the country. Lee has been on a visit to Beijing and Shanghai this week during which she met with top executives of state-run travel firms, including CTS and CYTS, as well as officials from China's foreign ministry, Hotel Shilla said in a statement. During the meetings, Lee "explained the
June 30, 2015
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Tourism sector's slump to last into summer season: poll
The South Korean tourism industry has been hit hardest by the outbreak of Middle East Respiratory Syndrome over the past month, but the slump may continue into the summer season from mass cancellations for hotels and tour packages, a poll showed Tuesday. The tourism and hotel industries were pummeled by the contagious virus as more than 135,000 foreigners, mostly from China, canceled their trips to Korea over the past month, according to the state-run Korea Tourism Organization. MERS has claim
June 30, 2015
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Hyundai signs 4-year NFL sponsorship deal
South Korea's leading automaker, Hyundai Motor Co., said Tuesday it has clinched a four-year sponsorship deal with the National Football League as part of efforts to tap deeper into the U.S. market via the most-viewed sports league there. With the latest deal, the Seoul-based carmaker replaces U.S. auto firm General Motors Co., which has had ties with the NFL since 2001. Hyundai Motor did not reveal the exact amount of the sponsorship deal, but industry watchers estimate it at some $25 millio
MobilityJune 30, 2015