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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[KH Explains] Why Korea's so tough on short selling
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Actors involved in past controversies return first via streaming service originals
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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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FSS asks for probe of stock rigging allegations
Prosecutors are to investigate allegations that a stock firm employee caused financial losses to investors by manipulating the assets of financial products.The Financial Supervisory Service reported to the prosecution in March that an employee of SK Securities incurred losses amounting to 6.6 billion won ($5.9 million) to investors by manipulating the underlying assets of the company’s equity-linked securities, officials said Monday.The employee allegedly dropped the stock price of steelmaker PO
June 29, 2015
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CJ opens sixth Bibigo store in China
CJ Foodville opened an outlet of its Korean dining franchise restaurant Bibigo in Wangjing, north of Beijing, in a bid to tap deeper into the Chinese market, the company said Monday. Customers dine at the Bibigo restaurant at Wangjing SOHO in Wangjing, north of Beijing, China. (CJ Foodville)The newly launched Bibigo store is the sixth restaurant in Beijing. The store is nestled at Wangjing SOHO, which consists of three mixed-use office and commercial buildings.“We expect that Bibigo’s brand awar
IndustryJune 29, 2015
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Dongsuh launches ‘Maxim Heritage Campaign’
Food and drink company Dongsuh announced Monday that it was launching a “Maxim Heritage Campaign“ to promote the nation‘s cultural treasuries to coffee consumers.The company signed a memorandum of understanding with the Cultural Heritage Administration in April and has since been promoting Korean cultural heritage.Starting July 1, Dongsuh will print the Gilt-bronze Incense Burner of the Baekje Kingdom, the 287th National Treasure of Korea, on their Maxim Mocha Gold coffee mix packages. Maxim Moc
IndustryJune 29, 2015
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Park calls for drastic measures to boost consumption
President Park Geun-hye called Monday for drastic measures to stimulate consumption to help revive economic growth as South Korea's economy was hit hard by the spread of the MERS virus. The outbreak of Middle East Respiratory Syndrome has hurt consumption and the service sector as many people have been staying at home to avoid any risk of being infected with the disease. The virus has so far killed 32 people since May 20, when the country's first infection was confirmed. South Korea reported
June 29, 2015
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Biz outlook far worse than post-Sewol level: surveys
A majority of companies in South Korea predicted business conditions to get worse in July as they are concerned over the fallout from Middle East Respiratory Syndrome and toughening outlooks for exports, a poll showed Monday. According to the poll conducted on the country's top 600 companies by the Federation of Korean Industries, the business survey index for July stood at 84.3. A reading below 100 means pessimists outnumber optimists about business conditions down the road. The latest figure
IndustryJune 29, 2015
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140 Samsung unit workers arrested after protesting merger
About 140 workers of Samsung Techwin Co., one of Samsung Group's four affiliates sold to Hanwha Group, have been arrested on charges of obstructing the firm's shareholders meeting, police said Monday. The protest came as Samsung has decided to sell its defense affiliate, Samsung Techwin, and chemical unit, then Samsung General Chemicals Co., to Hanwha, a conglomerate whose main businesses include defense and solar power. Two other affiliates, Samsung Thales Co. and then Samsung Total, were als
IndustryJune 29, 2015
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LG Uplus launches video portal for mobile users
LG Uplus Inc., South Korea's smallest mobile carrier, unveiled a mobile video portal Monday that offers all existing video content from real-time TV and movies to e-learning in one single package, as part of a push into the mobile visual content business. The mobile video portal, available through the long-term evolution network, allows users to enjoy over 130,000 visual materials such as video-on-demand, the latest movies, short TV clips and User Created Content, the mobile carrier said. If
TechnologyJune 29, 2015
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SK Telecom, Nokia open research lab for 5G studies
South Korea's top mobile carrier SK Telecom Co. said Monday it has opened a research center for fifth-generation network technology as part of efforts to tap deeper into the next-generation wireless network system. The lab to be jointly run by Nokia Networks kicked off in the affluent Gangnam district of Seoul, and will conduct research in various areas of the 5G industry, including gigabit-level data transmission technology and cloud technologies, SK Telecom said. "SK Telecom is spearheading
TechnologyJune 29, 2015
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S. Korea moves to ease FX restrictions, create new biz opportunities
South Korea plans to ease foreign exchange transaction rules to reduce inconveniences for companies and individuals as well as create new business opportunities, the government said Monday. Under the plans, local firms will be allowed to enter money transfer businesses like those operated by MoneyGram and Western Union. In addition, local payment gateway firms will be able to process on-line international transactions, according to the finance ministry. Companies can also benefit from not b
June 29, 2015
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S. Korea beefing up market monitoring amid Greek default woes
South Korea is beefing up market monitoring over concerns that Greece may default on its debt, and is ready to take appropriate measures to reduce fallout, a senior government official said Monday. At the macroeconomic and financial policy meeting, Vice Finance Minister Joo Hyung-hwan said the government has various contingency plans to cope with any trouble that may arise if a settlement is not reached between Athens and its international creditors. He said the government has been following G
June 29, 2015
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S. Korea's growth in last 10 years 6th highest among OECD members
South Korea's economic growth rate in the last 10 years was the sixth highest among Organization for Economic Cooperation and Development members, official data showed Monday. According to numbers released by the Paris-based organization of developed market economies with high income, Asia's fourth-largest economy grew at an average of 3.7 percent annually from 2005 to 2014. This is about 2.5 times higher than the average for the 34-member OECD that stood at just 1.5 percent. Chile ranked No.
June 29, 2015
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Finance Minister Choi heads to Beijing for AIIB ceremony
Finance Minister Choi Kyung-hwan departed to Beijing Sunday for an inaugural ceremony of the China-led Asian Infrastructure Investment Bank. Choi will attend the ceremony at the Great Hall of the People in Beijing on Monday, sources said. South Korea and 56 other countries became founding members of the AIIB, which is seen as a potential counterbalance to U.S. and Japan-led multilateral lenders such as the Asian Development Bank and the World Bank. The U.S. and Japan did not join the AIIB,
June 28, 2015
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[Photo News] Infiniti Q50S
Nissan’s premium brand Infiniti launched the hybrid sedan Q50S with prices starting from 56.9 million won ($50,700). The car is equipped with an electric motor as well as a 3.5 liter-V6 gasoline engine, boasting 364 horsepower and combined fuel mileage of 12.6 kilometers per liter. (Nissan Korea)
MobilityJune 28, 2015
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[Photo News] Jaguar XE in COEX
Jaguar Land Rover started promoting its new premium sports sedan, the Jaguar XE, by exhibiting the car at Coex Mall in southern Seoul from this past weekend. Those who sign a purchasing contract on the spot will be given an “XE limited edition welcome package” consisting of a leather clutch bag and more. Prices of the Jaguar XE start from 47.6 million won ($42,400). (Jaguar Land Rover)
MobilityJune 28, 2015
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[Photo News] Hyundai-POSCO tie-up for EV
Hyundai Motor and POSCO ICT signed a memorandum of understanding to establish more battery-charging facilities for the automaker’s electric vehicles. More than 120 charging stations will be set up at department stores, cinemas and other leisure facilities by the end of the year, and eventually at more than 2,200 Hyundai Motor outlets and service centers. (Hyundai Motor)
MobilityJune 28, 2015
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Mini’s fastest ever model offers dynamic racing experience
Being small doesn’t mean you’re not strong. The same rule can be applied to the Mini John Cooper Works, a high-performance Mini. Built for the track, the new Mini JCW, which debuted in Korea last Friday, goes the extra mile in performance compared to the previous model, positioning itself as the fastest and the most powerful car in the Mini family.The car is the second JCW model that Mini has introduced since BMW, Mini’s parent company, bought John Cooper Works in 2006. The acquired firm had bee
MobilityJune 28, 2015
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KB Financial eyes nonbanking growth
KB Financial Group chairman Yoon Jong-kyoo (right) attends the launching ceremony for the banking group`s insurance unit last week. (Yonhap)KB Financial Group’s drive to win back its former glory as the nation’s leading banking group is going well so far, with its key banking business back on track and a new insurance unit kicking off as planned.Its imminent challenge is now to build up a brokerage department and thus to redeem its relatively weak nonbanking portfolio ― which is why the group ha
June 28, 2015
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Korea to tighten mortgage monitoring
Financial regulators plan to tighten their monitoring of lenders’ mortgage issuances in a move to tame the country’s snowballing household debt. The Financial Services Commission, the Financial Supervisory Service and the Finance Ministry will announce a set of policies to tackle household debt, including the lenders’ stricter assessment of the borrowers’ debt-to-income ratios, sources said. DTI is widely used as a gauge for a borrower’s ability to manage monthly payments and repay debts.The DTI
June 28, 2015
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Asiana Airlines faces $30m lawsuit over San Francisco crash in 2013
More than 50 passengers have filed a class action suit for compensation against South Korea’s No. 2 carrier Asiana Airlines over a crash landing in San Francisco, which killed three in 2013. (AP)Korean law firm Barun Law LLC filed the complaint on June 26 in the Seoul Central District Court on behalf of 53 plaintiffs -- 27 Korean, 25 Chinese and one Indian national who resides in Korea -- aboard Flight 214, which clipped a sea wall and slammed into a runway at the U.S. airport on July 6, 2013.“
IndustryJune 28, 2015
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Carmakers close in on driverless dream
Hyundai‘s autonomous driving technology demonstration (Hyundai Motor)Google’s self-driving car (AFP) For many people who think of driving as a chore, driverless driving might just sound like a dream. But the recent news of German carmaker Audi as well as tech giant Google’s success in developing “self-driving cars” has shown that this has neared our doorstep, enabling all passengers to enjoy reading, eating, sleeping and whatever they want while their car and its artificial intelligence sort
MobilityJune 28, 2015