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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‘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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Iran’s president found dead at helicopter crash site
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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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LG CEO vows to step up innovation
LG Electronics’ CEO and vice chairman Koo Bon-joon pledged on Thursday to ramp up efforts for innovative experiments in a bid to better respond to customer demands during economic uncertainties. “This year we would face bigger economic uncertainties amid the volatile financial market and the falling oil prices,” Koo said in a statement ahead of the company’s annual shareholders meeting at its Seoul headquarters. LG Electronics’ shareholders meeting is shown on a TV screen at the company’s Seoul
TechnologyMarch 19, 2015
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BMW to use Samsung SDI batteries for 3 Series hybrid
German luxury carmaker BMW said Thursday its new 3 Series plug-in hybrid sedan will use batteries from South Korea’s Samsung SDI. “We are working on developing the next-generation automotive batteries together with Samsung SDI,” BMW’s head of purchasing and supplier network, Klaus Draeger, told Korean reporters during the company’s annual press conference held at the Munich headquarters. “The 3 Series plug-in hybrid to be launched next year will also be equipped with Samsung batteries.”BMW start
TechnologyMarch 19, 2015
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IBK expands financing for cultural content production
This is the first in a four-part series featuring IBK’s support for cultural content. ― Ed When director Steven Spielberg’s “Jurassic Park” was released worldwide in 1992, the blockbuster about genetically-engineered dinosaurs going rampant in a pilot theme park was a wake-up call for South Korea’s economy.The movie, which was based on Michael Crichton’s bestselling science fiction novel of the same title, earned some $850 million at the global box office that year. This was equivalent to Hyunda
March 19, 2015
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[Herald Interview] Korean firms advised to adopt data-driven talent search
In today’s competitive business environment, it is crucial that organizations should have the best available talent positioned in the right place and in order to address such needs, a combined mechanism of behavioral science and business strategy may be of use.“Companies pay much attention to talent, as well as to their organization, but few tend to take the two aspects in a comprehensive perspective,” said Ted Bililies, managing director and chief talent officer at AlixPartners, in an interview
March 19, 2015
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KONEX market value quadruples in 2 years
The Korea Exchange’s trade market to support and create financing for small and medium-sized start-up companies is showing rapid and steady growth, KRX and industry officials said.The Korea New Exchange market, or KONEX, was set up in July 2013 to provide a direct financing route for start-up SMEs that could not fulfill listing requirements for other exchange markets. It began with a total market value of about 468.9 billion won ($422 million), and since then has quadrupled to roughly 1.82 trill
March 19, 2015
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Citibank targets zero customer complaints
Citibank Korea’s top priority management target this year is to achieve a zero customer complaint status.Under the leadership of president Park Jin-hei who took office in October last year, the U.S.-based bank has successfully reduced the number of civil complaints by up to 40 percent so far.Earlier this month, the bank held a resolution ceremony and distributed a “complaint zero” wristband to all employees, celebrating its recent achievement and renewing its aspiration for the zero complaint ta
March 19, 2015
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Kim Dok-man to head Beginning Farmers Center
Kim Dok-man, a former professor at the Korea National University of Transportation, was appointed as the new head of the newly established Beginning Farmers Center, Korea, officials said Thursday.The Agriculture Ministry said it selected Kim through an open registration procedure. Kim Dok-manKim, a former Herald Business journalist, was a spokesman for the Anti-Corruption and Civil Rights Commission from 2005 to 2012.Kim also served as a professor of journalism and broadcasting at the Korea Nati
IndustryMarch 19, 2015
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Financial regulator vows to lower barrier for third stock exchange
South Korea's chief financial regulator pledged Thursday to ease regulations on the third stock exchange for start-ups to vitalize the tepid market and strengthen the nation's three-pronged bourse system through competition.Currently, the benchmark KOSPI market serves as the top-tier platform for large-cap players while the secondary KOSDAQ market is mostly for mid-sized tech-savvy ventures. The third KONEX market was opened in June 2013 for start-ups so that they can raise capital more easily."
March 19, 2015
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Kia unveils rendering of new K5
Kia Motors Corp. released the first renderings of its revamped K5 midsize sedan ahead of its official unveiling next month at the Seoul Motor Show.The second-generation K5 comes five years after the brand was first introduced to the auto market. The new design incorporates a wider look from its front radiator grille, giving the car a more sporty and powerful look, Kia Motors said in a press release. The retained feel of the side's surface and lines from the original K5 design have been preserved
CompaniesMarch 19, 2015
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Korean won surges vs dollar on Fed's dovish stance
The South Korean won leaped against the U.S. dollar Thursday afternoon as the U.S. Federal Reserve hinted at raising borrowing costs at a slower pace than forecast.The local currency was quoted at 1,114.90 per dollar as of 1:20 p.m., up 15 won from the previous session's end.On Wednesday, the Fed left room for a rate increase this year by dropping the word "patient" from its formal statement released after its two-day policy review meeting.But Fed Chair Janet Yellen said the growth in the world'
March 19, 2015
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LG to kick off overseas release of Aka phone this week
LG Electronics Inc., South Korea's second-largest smartphone maker, said Thursday it will start selling its latest character smartphone in neighboring countries this week, before gradually expanding to the Middle East. The Aka phone comes with four different, detachable casings that each has its own personality, shown in digital eyes placed on the top of the front cover that peek out from the metal sleeve enveloping three-fourths of the body. Since it debuted on the home turf in November, the Ak
IndustryMarch 19, 2015
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Banks likely to face avalanche of bad corporate loans this year
South Korean banks are expected to shoulder snowballing corporate loan defaults in the upcoming months as a growing number of cash-starved companies are turning insolvent amid a long-protracted economic slump, industry data showed Thursday.Keangnam Enterprises, a local major builder, has been in the red for the recent few years, posting losses of 310.9 billion won ($279.3 million) in 2013 and 182.7 billion won in 2014 due to a deep slump in the local housing market, according to the data.The bui
March 19, 2015
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Duty-free shops set to lower prices on dollar gain
South Korean duty-free operators are set to lower their U.S. dollar-denominated product prices as the greenback continues to strengthen against the Korean won, companies said Thursday.Major duty-free chains, such as Lotte, Shilla and Shinsegae, plan to lower prices of products manufactured by Korean brands, such as Samsung Electronics and LG Household & Health Care, by roughly 3 percent, according to the companies.Under the move, the price for Samsung Electronics' NX3000 mirrorless camera will f
IndustryMarch 19, 2015
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Tax earnings rise in January from property transactions, import duties
Tax earnings for January rose by around 400 billion won (US$354.2 million) compared to the year before mainly due to a rise in property transactions and more import duties, the finance ministry said Thursday.The total amount collected in the one-month period reached 25.7 trillion won, equal to 11.6 percent of the 221.1 trillion won the government is set to collect this year, the latest Monthly Public Finance report said.Taxes on income, including transfer taxes on housing transactions, import du
March 19, 2015
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Pension fund's stock investment pushes up KOSPI
South Korea's National Pension Service (NPS) has become a major driver of the local equity market this year as it launched stock investments at the highest level ever, bourse data showed Thursday.The government-owned pension fund has bought a net 2.5 trillion won ($2.2 billion) in the main KOSPI market this year as of Tuesday, mostly picking up battered blue-chip stocks, the Korea Exchange (KRX) said. Samsung Electronics Co., the nation's biggest firm by market value, and top automaker Hyundai M
March 19, 2015
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Corporate earnings outlook slightly upgraded on Samsung, tech firms
South Korea's listed firms are expected to show improved earnings in the first quarter of 2015 from a year earlier, helped by the steady performance of tech firms, including Samsung Electronics Co., data showed Thursday.The combined operating profit estimate for 170 listed companies was raised by 0.2 percent to 28.47 trillion won ($25.6 billion) for the first quarter as of Wednesday from a month earlier, according to the data by financial information provider FnGuide."Some companies are expected
IndustryMarch 19, 2015
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S. Korea seeks '2nd Middle East boom' through strengthened ties with resource-rich countries
South Korea will seek a "second Middle East boom" by strengthening economic cooperation with countries that are preparing for the post-oil era, the government said Thursday.In a national trade and investment promotion meeting, chaired by the President Park Geun-hye, policymakers stressed the considerable potential for local companies to tap large scale development projects in resource-rich countries that are scrambling to build up their economic and social infrastructure before their energy rese
March 19, 2015
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S. Korea to boost exports through new manufacturing boom
South Korea will aim to nearly double its exports over the next decade through a second manufacturing boom that infuses production with advanced technology, the trade ministry said Thursday.The measures approved at the trade-investment promotion committee meeting in Seoul include a 1 trillion won ($885 million) state-private joint fund to research and develop new advanced manufacturing technologies and equipment, the Ministry of Trade, Industry and Energy said.The government plan envisions "smar
March 19, 2015
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Seoul shares open higher on FOMC meeting
South Korean stocks opened higher Thursday as the U.S. Federal Open Market Committee (FOMC) meeting results were in line with market expectations, analysts said.The benchmark Korea Composite Stock Price Index (KOSPI) moved up 16.23 points, or 0.8 percent, to 2,044.68 in the first 15 minutes of trading.Tech shares led the rise, with Samsung Electronics adding 0.27 percent and top chipmaker SK hynix climbing 1.08 percent. LG Electronics advanced 0.33 percent.Builders also opened higher, with Hyund
March 19, 2015
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Foreign stock funds log cash inflows for 2nd month
Funds that invest in foreign stocks have received a 470 billion won ($416 million) net inflow so far this year as investors chased after higher investment returns in overseas markets amid low interest rates at home, data showed Thursday. Foreign equity funds had a net 315 billion won cash inflow last month following 155 billion won in January, according to the data compiled by fund tracker Zeroin. January's tally marked the first monthly net positive since June 2009.Foreign stock funds have suff
March 19, 2015