Most Popular
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[KH Explains] Why Korea's so tough on short selling
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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[Weekender] Geeks have never been so chic in Korea
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‘Kim desperately wanted to denuclearize,’ Moon writes in memoirs
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Actors involved in past controversies return first via streaming service originals
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N. Korea slams US subcritical nuclear test, vows measures to bolster nuclear deterrence
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Korea set to finalize medical school expansion plans
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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Seoul City to open 'hotel' on river bridge
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Korean builders nervous about possible setbacks in Middle East
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Samsung to pre-install Microsoft apps on Galaxy 6
South Korea's tech giant Samsung Electronics Co. said Tuesday it plans to pre-install applications and services provided by Microsoft Corp. on the soon-to-be-released Galaxy S6, as well as other Android-powered mobile devices.Under the plan, Samsung said it will "bring Microsoft mobile productivity services to more consumers and business customers" by installing OneNote, OneDrive and Skype on the Galaxy S6 and Galaxy S6 Edge. The two latest models, set to be launched April 10, will also come wit
CompaniesMarch 24, 2015
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Part-time workers hit record high
The number of employees who work less than 18 hours a week has reached a record-high 1.2 million, reflecting the widespread concerns about employment and job security, government data revealed Monday. The working hours of these part-timers is on average two to three hours a day, which is far shorter than the average for nonregular workers, Statistics Korea reported. The short duration part-time workers rose to 1.20 million in January-February, up 2.6 percent from the same period last year of 1.1
March 23, 2015
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[Graphic News] Koreans world’s heaviest noodle consumers
Koreans consumed the most noodles per person in 2014, according to a report released by Bloomberg Intelligence and market research firm Euromonitor on Sunday.The report showed that the average Korean consumed 9.73 kilograms of noodles in 2014, up 0.8 percent from 2013. Japan was a close second with 9.63 kg, followed by Indonesia (5.8 kg), China (5.0 kg) and Vietnam (4.7 kg).The top 10 countries with the highest noodle consumption were all in Asia.Eight of the 10 countries showed an increase in n
IndustryMarch 23, 2015
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Consumers get first taste of S6 and S6 Edge
Consumers flocked to 1,400 “experience stores” run by Samsung Electronics and its partners, including mobile carriers and electronics retail chains, to get hands-on experience with the tech giant’s upcoming marquee smartphones Galaxy S6 and S6 Edge in South Korea on Monday.Since it is a while before the gadgets’ official release, scheduled for April 10 in South Korea, the store was not built with the aim of creating an eye-catching long line of people waiting to order the handsets at mobile carr
TechnologyMarch 23, 2015
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Jeju Air to increase flights for summer
South Korea’s largest budget airline Jeju Air plans to increase its number of flights during the peak summer travel season on both domestic and international routes from its gateway hub in Jeju in a bid to strengthen its market position. The Jeju-based airline said Monday that it would increase the total number of flights to 415 per week, up 33.2 percent from the same period a year earlier. The peak summer season lasts from March 29 to Oct. 24. A passenger jet of Jeju Air. (Jeju Air)“Expanding
IndustryMarch 23, 2015
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[Herald Interview] Wolfgang’s Steakhouse puts meat ahead of chef for success
Seoul is fast becoming a battlefield for steakhouses as Wolfgang’s Steakhouse ― one of New York’s best high-end steakhouse chains ― started its operations Monday. But what is the most important in a good piece of steak is the ingredient itself rather than having a star-chef, said Peter Zwiener, managing partner of the restaurant, showing his disdain for the current restaurant craze of showcasing renowned chefs. Peter Zwiener (right) and his father Wolfgang Zwiener make a toast in southern Seoul
IndustryMarch 23, 2015
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AK Plaza tops Galleria for first time
AK Plaza, the department store affiliate of Aekyung Group, became the fourth-largest department store in South Korea in terms of sales, beating the posh Hanwha Galleria for the first time since launching its business in 1993, the company said Monday.AK Plaza recorded total sales, including online and in-store, of 2.15 trillion won ($1.92 billion) last year, surpassing Hanwha Galleria’s 2.05 trillion won. “All five outlets rank at No. 1 in each region. The sales figure of the Suwon branch in Gyeo
IndustryMarch 23, 2015
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Mahindra Group signs MOU with Yonsei Business School
India’s leading SUV manufacturer Mahindra Group announced Monday it has signed a memorandum of understanding with Korea’s Yonsei University School of Business to provide educational training to the company’s employees.Under the agreement, Mahindra Group employees will receive lectures on global strategy and marketing at Yonsei for two years. Mahindra Group also stated that they are considering an internship program for the School of Business students in the near future.Yonsei’s School of Busines
IndustryMarch 23, 2015
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Audi Korea adds dealership in Daegu
Audi Korea opened a second dealership in Daegu and tentatively named it Autobahn AAG, the company said Monday.The company said the dealership agreement will reinforce its sales and customer services capacity as it views the city and its surrounding North Gyeongsang Province as an area with high growth potential.Autobahn AAG, to be located at Chimsan-2-dong in Daegu, plans to open a showroom and service center in September in the city.Audi Korea managing director Johannes Thammer said, “The decis
IndustryMarch 23, 2015
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New transfer passageway links airport rail to Seoul metro
A new transfer passageway at Seoul Station connecting the Incheon Airport Railroad to Seoul’s Subway Line Nos. 1 and 4 is set to open on March 28. The convenience offered by the new passageway will have the biggest impact on foreign tourists looking for a faster way to reach various attractions, according to railroad sources. Until the passageway opens, passengers must walk up from the third underground floor to the second aboveground floor, and cross through the KTX waiting area to access the s
IndustryMarch 23, 2015
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Korean conglomerates see cash reserves increase 8%
South Korea’s conglomerates and their affiliates have increased their cash holdings over the past year, despite the government’s efforts to induce companies to spend them to increase employee wages and facility investment.The combined retained earnings of 96 affiliates of the country’s top 10 family-run conglomerates reached 503.9 trillion won ($453 billion) at the end of fiscal 2014, up more than 8 percent or 37.6 trillion won from the same period a year ago, according to Chaebul.com, an online
March 23, 2015
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AmorePacific leads philanthropic campaigns
Established in 1945, leading cosmetics company AmorePacific has contributed to society in a number of ways, such as joining the U.N. Global Compact in 2007, which strives to uphold principles regarding human rights, labor environment and anticorruption, and holding various campaigns to raise awareness on social issues.AmorePacific carries out the Pink Ribbon Campaign through its nonprofit organization Korean Breast Cancer Foundation, set up in 2000. The foundation runs an annual Pink Ribbon Love
IndustryMarch 23, 2015
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FSC, FSS strive to voice unified view
Officials of the Financial Services Commission and the Financial Supervisory Service may face personnel penalties should they voice conflicting opinions over an issue.The move reflected the two financial regulators’ effort to harmonize their opinion and minimize the confusion for financial companies.“FSC chairman Yim Jong-yong and FSS Gov. Zhin Woong-seob agreed that the two organizations need to talk in advance before delivering their official stance to the market,” said an FSC official.“In ord
March 23, 2015
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NH Financial taps former Eximbank chief as new head
NongHyup Financial Group has tapped a former state-run bank chief as its new chairman to succeed Yim Jong-yong, who was recently appointed head of the Financial Services Commission.The chairman selection committee on Monday recommended Kim Yong-hwan, former president of the Export-Import Bank of Korea, as the sole candidate to fill the chairman’s post of the banking group. Kim Yong-hwan. (Yonhap)“Having served key posts in the Finance Ministry, Financial Supervisory Service and Korea Eximbank, K
March 23, 2015
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Shinhan Card’s ‘B.big’ offers daily transportation discounts
The latest credit card rolled out by Shinhan appeals to commuters with its daily discounts on public transportation costs.The “B.big” card is the fifth offering in Shinhan Card’s Code9 series, targeted at working men and women in their 30s and 40s who commute to the office. The focus of its discount benefits is on public transportation, offering fixed discounts of up to 600 won every day, or up to 18,000 a month on bus and subway fees. Users also receive a 10 percent discount on fees for taxis,
IndustryMarch 23, 2015
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Hotel Shilla buys stake in U.S. duty-free firm DFASS
Hotel Shilla said Monday it has inked a deal to buy a 44-percent stake in U.S. duty-free operator DFASS, a move that is expected to accelerate the No. 2 duty-free operator's global expansion plan as it competes with bigger rival Lotte."Hotel Shilla has decided to push for a strategic partnership with DFASS through stake acquisition by buying a 44-percent stake for $105 million," the company said in a press release following a board meeting held earlier in the day. The agreement includes a call o
CompaniesMarch 23, 2015
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Discount retailers flounder on policy hurdle, slowing economy
Major South Korean supermarket chains are grappling to stay afloat as policy measures aimed at protecting mom-and-pop stores as well as lackluster economic growth squeeze their sales, data showed Monday.E-mart, the country's biggest discount chain brand operated by retail conglomerate Shinsegae, saw its sales reach 10.1 trillion won ($9.1 billion) last year, staying on par with 2012. The data only covers branches that were established before 2012.Its smaller rival Lotte Mart, run by retail giant
IndustryMarch 23, 2015
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Seoul shares almost flat on profit-taking
South Korean stocks closed almost flat Monday after swerving in and out of positive terrain, as retail investors sold shares to take their profit from recent gains, analysts said. The local currency rose against the U.S. dollar. The Korea Composite Stock Price Index shed 0.65 points, or 0.03 percent, to finish at 2,036.59. Trading volume was moderate at 308.6 million shares worth 4.6 trillion won ($4.12 billion), with gainers outnumbering decliners 432 to 366. Analysts said market uncertainties
March 23, 2015
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Korean won up on global dollar weakness
The South Korean won rose against the U.S. dollar Monday, moving in tandem with its other major peers, but pared part of its earlier gains on intervention concerns, dealers said.The local currency closed at 1,114.60 per dollar, up 8.4 won from the previous session's close, after rising to as high as 1,111.60 won at one point.At the opening bell, the won gained around 1 percent to the greenback on expectations that the U.S. Fed's rate hike would be delayed.Adding to the downward pressure on the w
March 23, 2015
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Koreans' excess cash holdings rise in 2014
Excess cash held by South Korean households and non-profit agencies rose from a year earlier in 2014 as their income growth surpassed their spending, central bank data showed Monday.The value of excess funds reached 91.7 trillion won ($82.1billion) last year, up from 87.4 trillion won in the previous year, according to preliminary data by the Bank of Korea. Excess funds refer to the volume of money that remains on balance sheets for households after deposits and stock investments.The figure is c
March 23, 2015