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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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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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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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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Korea set to finalize medical school expansion plans
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Seoul City to open 'hotel' on river bridge
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Budget carriers stand against Asiana’s LCC
South Korea’s budget airlines have submitted a petition against Asiana Airlines’ move to establish its second low-cost carrier this year, according to the Ministry of Land, Infrastructure and Transport on Sunday.The heads of three budget air carriers ― Jeju Air, Eastar Air and T’Way Air ― handed in the petition last week to protest the country’s second biggest commercial carrier’s move to launch a new Incheon-based budget airline.“(The government) should not give a permission to the new air tran
IndustryMarch 22, 2015
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Competition heats up for jobs at Samsung
A record number of applicants are expected to take the Samsung Aptitude Test, a twice-yearly entrance exam aimed at hiring new employees for Samsung’s some 30 affiliates. According to industry sources on Sunday, more than 110,000 people applied for the test that is scheduled to be held on April 12. The figure outpaced some 100,000 last year. This year’s SSAT attracted more applicants compared to previous years as it is the last chance open to all applicants. In a recent overhaul of its recruitin
TechnologyMarch 22, 2015
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LG affiliate’s beverage business less than stellar
LG Household & Health Care’s hopes of making a splash in the beverages market appears to have foundered, despite its initial vigorous drive.According to data compiled by CEOScore, a local website which specializes in analyzing corporate performance, LG Household & Health Care’s beverage business’s performance has been less than stellar.The data showed that the company’s operating profits from the business only recorded marginal growth despite a large jump in sales.Last year, the company’s sales
IndustryMarch 22, 2015
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Organica builds Asia’s first detox juice production center
Organica Day, the beverage arm of natural food label Organica, has completed the construction of Asia’s first production center exclusively dedicated to detox juice on Monday, according to the company.Organica is a local brand that first introduced juice cleanse to the Korean market in 2012. Known as the Just Juice Production Center, the two-building facility in Paju, Gyeonggi Province, has the ability to extract, sterilize, pack and ship up to 5,000 bottles of detox juice each day. The HACCP-ce
IndustryMarch 22, 2015
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Aston Martin comes to town
Remember the sleek, sensual but dynamic Bond car in the 007 movies?That very British car, Aston Martin, has officially landed in Seoul on Friday, and is expected to fuel the domestic supercar market that is growing at a rapid pace. “I am very convinced that Aston Martin has offered the right thing in Korea, as people love special and emotional products as also design. And that is what Aston Martin is all about,” said Ulrich Bez, chairman of Aston Martin, at the launching event held inside the Br
MobilityMarch 22, 2015
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All-New Chrysler 200 repackaged with Italian flair
The All-New Chrysler 200, the midsize family sedan brand of Fiat Chrysler Automobiles, has hit the market with drastic changes in design and auto technology. It has been freshly repackaged, with a revised powertrain, restyled cabin, better fuel efficiency based on nine-speed transmission, and numerous safety features. This is the first vehicle to be built on the joint platform of Chrysler and Fiat after their merger in 2014 and it is fun to discover how Italian flavors are mixed with the America
MobilityMarch 22, 2015
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Asiana to operate three weekly flights to Rome from June
Asiana Airlines Inc., South Korea's second-largest flag carrier, said Sunday it will launch three weekly flights to Rome starting in June, signaling a competition with its bigger home rival, Korean Air Lines Co., which has been the sole operator on the route. The Asiana flights will be available on Tuesdays, Thursdays and Saturdays for 1 p.m. departure starting June 30, the company said.The flights out of Rome will depart at 8:15 p.m. (local time)Italy-based Alitalia also has said it will launch
IndustryMarch 22, 2015
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Amore Pacific chief solidifies No. 3 stock-rich ranking
Suh Kyung-bae, chairman of Amore Pacific Group, the country's leading cosmetics maker, solidified himself as a stock wealthy businessman whose shareholdings were valued at over 8 trillion won ($7.1 billion) for the first time, putting him further ahead of the head of Hyundai Motor Group, data from a market tracker showed Sunday.The shares held by the head of the beauty giant were priced at 8.18 trillion won as of Friday, up 39 percent from end-2014, according to Chaebul.com. In December, Suh, wh
IndustryMarch 22, 2015
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Market cap of 10 conglomerates soars 29 trillion won so far this year
The market cap of South Korea's top 10 business groups listed on the main bourse has gained 29.1 trillion won ($25.8 billion) so far this year, a 4.26 percent jump from the end of last year, strongly led by Samsung Group companies, data showed Sunday.The 10 conglomerates' market cap reached 712.2 trillion won as of Friday, accounting for 51.2 percent of the total, according to the data from market tracker WISEfn.South Korea's No. 1 conglomerate, Samsung Group, increased its share value by 5.41 p
March 22, 2015
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Korea plans new W10tr stimulus
The government plans to frontload a 3 trillion won ($2.67 billion) stimulus budget in the first half of the year and raise an additional investment of 7 trillion won from both public and private sectors this year to spur the nation’s weak consumption and sluggish economic recovery, financial officials said Friday. On the U.S. Federal Reserve’s upcoming key rate hike, Bank of Korea Gov. Lee Ju-yeol said that the pace is more important than the timing. “Our economy is showing signs of gradual imp
March 20, 2015
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[Weekender] Home furnishing market flourishes
Sixty-year-old housewife Choi Sun-hee recently visited Hanssem Flag Shop in southern Seoul to buy some stools for her new house. The interior of the store was arranged like an actual house, with the spaces filled with items ranging from wardrobes and beds to smaller products such as vases, coasters and lamps. Choi was impressed with the design and function of the stools. But what she really liked was how the stools were arranged with other furniture in the showroom, giving her plenty of room to
IndustryMarch 20, 2015
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Three mobile carriers plan joint app store
Mobile carriers in South Korea are stepping up their efforts to establish a joint mobile application market to challenge Google’s Play Store and Apple’s App Store. KT, LG Uplus and SK Telecom’s subsidiary SK Planet said Friday they held a meeting with mobile app developers to discuss the “One Store project” earlier in the day.Around 150 developers participated in the meeting held at SK Planet’s headquarters in Pangyo Techno Valley, Gyeonggi Province, according to the firms.KT, SK Planet and LG U
TechnologyMarch 20, 2015
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SK Telecom to acquire Broadband
SK Telecom, South Korea’s largest mobile carrier, announced Friday that it would put SK Broadband, a landline and wireless Internet services provider, under its wing through a share swap.The mobile firm decided at a board meeting on the day to acquire the entire stake of SK Broadband. The two firms are affiliates of SK Group.The telecom firm currently holds a 50.56 percent share in SK Broadband, and the rest of the shares are held by other investors including the National Pension Fund. If approv
TechnologyMarch 20, 2015
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Aircraft maker sets 30% sales growth target
The top management of Korea Aerospace Industries, the nation’s sole aircraft manufacturer, has set a 30 percent growth target for sales this year, boosted by growing revenue from exports. “When the sales goal is achieved, the company’s revenue will soar to a record high of 3 trillion won ($2.7 billion) by year-end,’’ KAI CEO Ha Sung-yong said during the firm’s annual general meeting. The event was held at the company’s headquarters in Sacheon, South Gyeongsang Province, on Friday. The bold sale
IndustryMarch 20, 2015
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FSC chief urges stricter non-house mortgages
The national financial regulator will strengthen risk management over the land- and commercial building-backed mortgage loans, seeking to control the country’s snowballing household debt, its top official said.New Financial Services Commission chairman Yim Jong-yong said in the weekly working-level meeting on Friday that the regulator would “make precise analyses of the household debt conditions, as if performing an MRI.” “We are planning on more active management on the land- and commercial bui
March 20, 2015
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Shin reelected to board despite opposition
Lotte Group founder and general chairman Shin Kyuk-ho was reelected to the internal board of its retail affiliate Lotte Shopping on Friday, amid the prosecution’s widening probe into the firm’s irregular activities including slush funds.Despite opposition from some local consultancies, Shin won the majority support at an annual shareholders’ meeting that lasted less than 25 minutes. Analyst firms Daishin Economic Research Institute and Sustinvest had adviced Lotte shareholders to vote against Sh
IndustryMarch 20, 2015
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Samsung unveils new enterprise mobile security package
Samsung Electronics, the world’s largest smartphone-maker, announced an advanced version of its mobile security solution, called Trustonic for KNOX, on Friday, aiming to increase its presence in the global enterprise mobile market. The new security solution for mobile devices will be embedded in the Galaxy S6 and S6 Edge, which are scheduled to hit global shelves on April 10, and will be available for other Galaxy smartphones through updates down the road. Trustonic for KNOX, a result of the co
TechnologyMarch 20, 2015
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KOSDAQ SOARS
March 20, 2015
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Seoul shares almost flat on profit-taking
South Korean stocks closed marginally lower Friday, as investors opted to lock in part of recent gains spurred by the U.S. Federal Reserve's dovish stance on its monetary policy, analysts said. The local currency lost ground against the U.S. dollar. The Korea Composite Stock Price Index fell 0.65 point, or 0.03 percent, to 2,037.24. Trading volume was moderate at 345.9 million shares worth 5.12 trillion won ($4.56 billion) with decliners outpacing gainers 409 to 407. Analysts said the KOSPI,
March 20, 2015
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SK hynix to mass-produce lower 20-nano class DRAM in second half: CEO
South Korean chip giant SK hynix will start mass production of lower 20-nanometer class dynamic random access memory in the second half of this year, its chief said Friday, as it shores up efforts to keep its grip on the memory chip business through the advanced technology. "It's possible from the early second half," Park Sung-wook, the chief executive officer of SK hynix said after the shareholders meeting earlier in the day, in response to a question raised by a reporter about the timing of
TechnologyMarch 20, 2015