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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[KH Explains] Why Korea's so tough on short selling
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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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LG Chem develops world’s first hexagonal smartwatch battery
The world’s leading battery maker LG Chem said Sunday it has developed a hexagonal battery, which the firm said would give more leeway for device makers in designing smartwatches.The world’s first hexagonal battery boasting 25 percent more energy efficiency than a conventional rectangular battery can increase the battery life of a smart watch by up to 4 hours, according to the Seoul-based battery manufacturer.An LG Chem staffer poses with the firm‘s hexagonal battery. LG ChemThe battery business
TechnologyJune 28, 2015
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Samsung tops consumer satisfaction survey in U.S.
Samsung Electronics said Sunday that it had topped a consumer satisfaction index survey in the U.S. for the second consecutive year.In the survey, conducted by U.S. market researcher J.D. Power, the Seoul-based tech giant topped the list by scoring 871 points out of 1,000 in the category of 50-inch TVs or larger, and 856 in the category of TVs smaller than 50 inches.Samsung, aiming to hold its lead in the U.S. large screen TV industry, expected that the results of the report would lead to robust
TechnologyJune 28, 2015
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[Graphic News] Korea lowers growth outlook to 3.1%
The Korean government lowered its economic growth forecast for 2015 from 3.8 percent to 3.1 percent.Presenting its economic policy direction for the second half of the year, the Ministry of Strategy and Finance said it cut the growth forecast due to falling exports and the effect of the Middle Eastern respiratory syndrome outbreak on spending and tourism.The ministry also cut its forecast of the employment rate for the year, from 66.2 percent to 66.0 percent.The expected consumer inflation rate
IndustryJune 28, 2015
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BMW Premium Selection celebrates 10th anniversary
The “BMW Premium Selection,” a used car trading service administered by BMW Group Korea since 2005, marks its 10th anniversary this year.BMW Group Korea said that they plan to provide premium services to customers for the occasion, such as a free 12-month warranty for vehicles up to 20,000 kilometers, a transparent maintenance history, leases and financial services such as monthly installment plans.In 2009, BMW Premium Selection also opened their online used-car trading service website -- www.bp
MobilityJune 28, 2015
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S. Korean firms expand recruitment in Q1
South Korean companies hired more full-time workers in the first quarter this year from a year earlier, data showed Sunday, reflecting an improvement in the country's job market.According to the data compiled by the Ministry of Employment and Labor, local companies hired 726,000 people over the January-March period, up 5.3 percent from a year earlier. The study was conducted over 30,000 local firms with five or more employees.By sectors, the education and service segment hired 150,000, followed
June 28, 2015
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S. Korean banks' loan delinquency rate rises in May
A South Korean think tank downgraded the country's economic growth forecast for 2015, citing weak exports coupled with the outbreak of Middle East Respiratory Syndrome, which has claimed 32 lives.The Korea Economic Research Institute said it has slashed the economic growth forecast to 2.7 percent for 2015, compared with the 3.4 percent in March.The figure is lower than the 3.1 percent estimated by the South Korean government last week, on par with a forecast made by the Bank of Korea in April. T
June 28, 2015
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Sales at S. Korea's discount outlets, department stores rise in May
Sales at both discount outlet chains and department stores here rose from a year earlier last month, continuing their positive growth for a second straight month, the government said Sunday.The combined sales of three major department store chains grew 3.1 percent from the same month last year in April, according to the Ministry of Trade, Industry and Energy.The rise followed a 1.3 percent on-year gain in April. The three department store chains are Hyundai, Lotte and Shinsegae.The increase was
June 28, 2015
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Ilsung Pharm says Samsung C&T merger 'unfair'
Ilsung Pharmaceutical, a South Korean drugmaker with a 2.11 percent stake in Samsung C&T Co., said Sunday that Samsung Group's bid to merge its construction and trade arm with Cheil Industries Co. is "unfair" for shareholders. "It will not be easy to have the merger plan approved at the shareholders' meeting," said Yoon Seok-keun, who heads Ilsung Pharmaceutical, indicating it will likely vote against the bid at the shareholders' meeting slated for July 17. "Share prices do not always reflec
IndustryJune 28, 2015
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S. Korean stocks to remain dull on Greek uncertainties
The South Korean stock market is anticipated to remain sluggish next week due to prolonged uncertainties over the Greek debt issue, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,090.26 points on Friday, up 2.1 percent from a week earlier. This week, Seoul shares have started higher as investors highly anticipated that Greece would make a compromise with its international creditors over its debt rollover issue which has been weighing down on
June 27, 2015
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S. Korea reports one new case of MERS, bringing total to 182
South Korea reported an additional case of Middle East Respiratory Syndrome (MERS) on Saturday,bringing the total number of people diagnosed with the disease here to 182. No additional fatalities have been reported since Friday with the country's death toll standing at 31, according to the Ministry of Health and Welfare. The latest case involved a nurse who apparently got infected while treating a patient. Some 90 hospitals throughout the country have been affected by the disease, most
TechnologyJune 27, 2015
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KOSDAQ spin-off plan would backfire: KRX
The idea of separating the tech-laden secondary stock market from the main bourse will not only increase operating costs, but also weaken market soundness and customer protection, according to the Korea Exchange.“The Korea Securities Dealers Automated Quotations, which mostly involves small-sized venture capital, is already differentiated from the main bourse Korea Composite Stock Price Index in size, capital, and characteristics,” said an official of the stock operator.“The spinoff is more like
IndustryJune 26, 2015
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Queer fest seeks corporate support
The 16th annual Korea Queer Festival is nearing to an end amid apparently growing awareness.“Many did not know about the festival at all, and only got to know last year when some people opposed it,” said Woo Ji-young, secretary-general of KQCF. More and more people, including foreign diplomats, have been participating in the event, the organizer said. In spite of this trend, however, many local companies are hesitant to join the event, and the organizers would like to see that change in the near
IndustryJune 26, 2015
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KOGAS sales rise on overseas projects
The state-run Korea Gas Corp. posted 10.2 trillion won ($9.2 billion) in sales in the first quarter of this year, an 18.4 percent increase compared to the same period last year.According to its business report, KOGAS’ quarterly profits reached 865.4 billion won, a 20 percent increase from a year earlier, largely thanks to an increase in its overseas business.KOGAS also reported an increase in investment returns by 82.2 billion won, as well as a net profit of 581.2 billion won, a 37.6 percent inc
IndustryJune 26, 2015
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Korean street food spreads to rest of Asia
The rapid globalization of Korean food has extended to street food, widening the scope of Korean exports of farmed goods and food throughout Asia. With the rising popularity of Korean culture, travel and food, the nation is seeing a growing number of foreign visitors who have already tried out authentic street foods like tteokbokki and hotteok. “A country’s street food fully reflects its unique culture and trends, not to mention affordable prices, making significant channels to raise the foreign
IndustryJune 26, 2015
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[Weekender] Jejudo, Songdo, Busan beckon with romantic youth hangouts
You may get a glimpse of taste of the latest trends in Korea if you travel Jejudo Island, Busan or Songdo in Incheon. Challenging the old beach vacation formula, with tons of almost-identical seafood restaurants, Woljeong-ri Beach in Jejudo is accompanies by a boulevard of cafes, boasting unique interior designs and localized menus. “I dropped by to spend a few relaxing hours at the beach, to feel the ocean breeze and have fun in a comfortable way,” a soldier in his 20s said at a cafe on the bea
June 26, 2015
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Shareholders approve merger of 2 SK firms
Shareholders of SK Holdings and SK C&C on Friday approved the proposed merger between the two companies, paving the way for SK Group, the nation’s third-largest conglomerate, to streamline its business structure and reportedly strengthen the influence of the de facto owner family that includes group chairman Chey Tae-won. Following the approval, a new entity ― retaining the name SK Holdings ― is set to be launched on Aug. 1. Its asset value is estimated to reach 13.2 trillion won ($12 billion).
IndustryJune 26, 2015
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Jejudo to promote IT, tourism
The South Korean government on Friday opened its 13th creative economy center on Jejudo Island, with aims to transform the southernmost resort island into an IT and tourism accelerator.A 156.9 billion won ($140 million) fund will also be set up to support related projects, including nurturing start-ups and venture firms, through the Jeju Center for Creative Economy and Innovation.Daum Kakao, the Korean search giant headquartered on the island, will help create collaborative working space for tec
TechnologyJune 26, 2015
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Private lenders, savings banks lash back at state-led overhaul
The government’s recent financial reform plan which focuses on reinforcing the competitiveness of banking groups triggered a backlash from the secondary market, including private lenders and mutual savings banks.Loan companies reacted against lowering the interest rate ceiling, while small-sized savings banks claimed to be discriminated against bigger units affiliated with a holding company.The Financial Services Commission said earlier this week that it will lower the maximum interest rate for
June 26, 2015
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Seoul shares end slightly higher on gov't stimulus
South Korean stocks closed slightly higher Friday as investors' sentiment was boosted by the government's announcement of a stimulus plan, but the gain was limited by Greek debt woes, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) added 5.20 points, or 0.25 percent, to 2,090.26. Trading volume was moderate at 485 million shares worth 6.24 trillion won ($5.59 billion), with losers outpacing gainers 516 to 290.Seoul sha
June 26, 2015
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Government picks 12 banks to boost expand won-yuan trading
A total of 12 banks have been picked to expand South Korea's won-yuan direct transaction market that is critical for the country becoming an overseas trading hub for the Chinese currency, the government said Friday.The finance ministry said seven local banks and five foreign lenders operating in the country have been authorized to conduct direct currency transaction in the second half.The local banks are KB Kookmin Bank, Shinhan Bank, Woori Bank, Korea Development Bank, Industrial Bank of Korea,
June 26, 2015