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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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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Iran’s president found dead at helicopter crash site
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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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S. Korean companies with higher foreign ownership pay bigger dividends
South Korean companies with a higher ratio of foreign shares showed bigger growth in dividend payouts last year, data showed Monday, raising doubts as to whether the extra income from stock investments is going where the government intended. Out of 1,719 listed companies, 885 offered cash returns worth 15.72 trillion won ($13.84 billion) for the fiscal year 2014, up 18.9 percent from the year prior, according to data compiled by market research firm WiseFN. Dividends for 39 companies that are
IndustryMarch 16, 2015
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Dessert cafe chain Sulbing enters Thai market
South Korean dessert cafe franchise Sulbing said Monday it plans to open 50 branches in Thailand by next year in its latest efforts to expand abroad to secure new growth engines. Sulbing has signed a deal with International World Ettia Thai to open two branches in Thailand's capital of Bangkok by June and have 50 branches across the country by 2016, the company said in a press release. The Thailand deal comes a month after the dessert franchise inked a deal with China's Shanghai Yabin Food Stu
CompaniesMarch 16, 2015
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No. of corporate rating downgrades hits 15-yr high in 2014
The number of credit rating downgrades for South Korean companies rose to a 15-year high last year amid weakening earnings and a protracted economic slump, data showed Monday. According to data compiled by the Korea Investors Service Inc., ratings for 41 of the 373 companies appraised were downgraded last year, the largest amount since 1999. Fifteen companies were graded up last year, also the lowest number in 15 years, the data showed. "Since 2010, more companies have faced a decline in the
CompaniesMarch 16, 2015
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Lotte seen forging ahead with succession plan
Lotte Group appears to be bringing forward its succession plans as the conglomerate named one of the founder’s sons to the board of its holding company last week. The group appointed its chairman Shin Dong-bin to the board of Hotel Lotte, the de facto holding company of the conglomerate, whose businesses range from construction to shopping malls and snack production. The appointment is widely seen as another sign of the controlling family’s succession plans, amid rampant rumors that Shin is aggr
IndustryMarch 15, 2015
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Banking groups seek to reform board memberships
In banking groups, which do not have an owner manager, the voice of nonexecutive directors carries weight ― so much so that the board’s disposition tends to display the direction of the entire group.This is also why the selection of these outside directors is often subject to political peddling. But this year, financial groups are determined to change the system, calling for independence and professionalism.The most active to lead such change, KB Financial Group decided to fully embrace the reco
March 15, 2015
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Astronergy Solar Korea eyes global solar power market
Solar power equipment-maker Astronergy Solar Korea is aiming to make a foray into the photovoltaic power generation market in Southeast Asia. Established in 2009 as a subsidiary of Chinese energy firm Chint Group, the Seoul-based company produces a wide range of solar energy products including modules and inverters, and participating in projects to build a solar energy plant in Korea and foreign markets.“Astronergy Solar Korea, which has been focusing on manufacturing solar cells and modules, wi
TechnologyMarch 15, 2015
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SKT helps SMEs foray into global market
From operation of research labs to financial support for small and medium-sized firms, SK Telecom has been pouring its resources into supporting SMEs. Some Korean start-ups, which participated in the Mobile World Congress trade show in Barcelona earlier this month with the help of the telecom firm, have been receiving calls for business partnerships in the global markets.ISL Korea, which produces Bignote, a smart whiteboard solution consisting of a digital pen and a projector, is a beneficiary o
TechnologyMarch 15, 2015
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Korea’s 4-year growth falls short of G20 average
South Korea’s economic growth lagged behind the average of the G20 member countries for four consecutive years, data showed Sunday. Asia’s fourth-largest economy saw its gross domestic product grow by 3.3 percent in 2014, lower than the G20’s 3.4 percent average, the Organization for Economic Cooperation and Development reported in its quarterly national accounts of GDP. South Korea’s GDP growth has come short of the G20 average since 2011, when the growth rate reached 3.7 percent, and stayed at
March 15, 2015
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New Infiniti Q70 offers safe, fun driving
The facelift version of Infiniti’s highest-class luxury sedan Q70 is the epitome of Nissan’s technology and ambition. With the same target market as the Audi A6, BMW 5-series and Mercedes-Benz E-class, the Japanese carmaker has poured the its state-of-the-art technology into this model ― from the sexy exterior based on the shape of a crouching cheetah to the powerful engine. “We are aiming to sell 3,000 Q70 vehicles this year, alongside the best-selling sedan Q50,” Nissan Korea president Takehik
MobilityMarch 15, 2015
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Hyundai Motor boasts of world-class acceleration
Hyundai Motor, the nation’s top automaker, launched its first “tech experience” event for the local press with its seven-speed dual clutch transmission-mounted cars at its Namyang Technology Research Center in Hwaseong, Gyeonggi Province, on Friday in an effort to strengthen communication to address its technological prowess.“The event was designed to raise public understanding of Hyundai Motor’s technological advancements,” an official from the automaker said. The move was expected as the growt
MobilityMarch 15, 2015
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S. Korean economic growth lags behind G-20 average in 2014
The South Korean economy grew at a slower pace than the economies of the Group of 20 countries on average in 2014 for the fourth year in a row, data showed Sunday. The real gross domestic product of the G-20 nations grew 3.4 percent in 2014, a notch higher than South Korea's 3.3 percent, according to the data compiled by the Organization for Economic Cooperation and Development. South Korea's real GDP growth rate dropped to 3.7 percent to sink below the G-20 figure of 4.1 percent in 2011, and
March 15, 2015
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Mercedes-Benz Korea to recall 16,504 E-class, CLS sedans for engine defect
Mercedes-Benz Korea, the local importer of German Daimler AG's luxury car brand, is recalling 16,504 E-class and CLS sedans sold here because of engine problems that could spark a fire, the transportation ministry said Sunday. The recall mostly affects 13 E-class and CLS sedans, including E-300, E-350, E-400, CLS 350 and CLS 400 sedans, from July 2012 to December 2014, according to the Ministry of Land, Infrastructure and Transport. It said a rubber seal designed to muffle noise and vibration
MobilityMarch 15, 2015
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S. Korea logs 37th straight month of trade surplus in February
South Korea posted a trade surplus for the 37th month in a row in February, mainly due to the sharp drop in imports that outpaced the decline in exports, customs data showed Sunday. According to the Korea Customs Service, the country's trade surplus topped $7.7 billion last month, up from $5.36 billion tallied for the previous month and $850 million a year earlier. Exports backtracked 3.3 percent on-year to $41.5 billion, while imports nosedived 19.7 percent to $33.79 billion. Export, import a
March 15, 2015
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Hyundai Motor's Tucson to surpass 4 million in sales
Sales of Hyundai Motor Co.'s Tucson compact SUV are expected to surpass 4 million units later this month, 11 years after it first hit the road, industry data showed Sunday. According to the data, the South Korean auto company had sold slightly over a cumulative 3.95 million units of the Tucson as of the end of February. With average monthly sales of 45,000 units, the number will likely pierce the landmark 4 million plateau within March to become the first South Korean SUV to acclaim the honor.
MobilityMarch 15, 2015
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S. Korea's elderly in poverty highest among OECD nations: report
The poverty rate of South Korea's elderly was by far the highest among advanced countries, while the net pension replacement rate for the population was one of the lowest, a report showed Sunday. According to the report from the government-funded Korea Labor Institute, South Korea's poverty rate among elderly citizens was 48.6 percent in 2011, the highest among all 34 members of the Organization for Economic Cooperation and Development. The poverty rate refers to the rate of households that e
March 15, 2015
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S. Korean listed firms' profitability drops last year
The profitability of South Korean listed firms declined last year as they have been struggling to secure revenue amid a protracted economic slump, industry data showed Sunday. The country's top 100 firms by asset value posted a combined 867.6 trillion won ($768.6 billion) in sales in 2014, down 2.3 percent from a year earlier, according to the data complied by Chaebul.com, a Seoul-based market research firm. Their operating profit contracted 15.2 percent on-year to 45.6 trillion won from 53.8
March 15, 2015
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Seoul shares likely to trade higher on BOK rate cut
The South Korean stock market is likely to see a gradual gain next week as investor sentiment improves after the central bank's rate cut, analysts said Saturday. The country's key stock market index KOSPI closed 1.35 percent lower than a week ago at 1,985.79 on Friday. Seoul shares were able to pare some of its earlier losses this week after the Bank of Korea unexpectedly decided to cut the key rate to a record-low of 1.75 percent on Thursday. Analysts said the effect of the BOK's surprise rate
March 14, 2015
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Korea, Australia team up to tackle business regulations
The Korean and Australian governments met Friday in Seoul to discuss repealing business regulations to boost their economies and economic ties.The Australian Embassy hosted the Best Practice Regulation Workshop, a public forum, to exchange ideas on business regulations. The participants, including Australian Ambassador to Korea Bill Paterson, Korean and Australian government officials and a panel of experts from the Organization for Economic Cooperation and Development, shared ideas on each gove
March 13, 2015
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Hyundai Motor eyes governance reforms
South Korean auto giant Hyundai Motor’s CEO Kim Choong-ho said Friday that the company would consider how to improve its governance. “It is too early to say what we will do, but we will take the matter seriously and reflect it on our future management according to our conditions,” Kim said at the 47th Annual General Meeting of Shareholders of Hyundai Motor at the carmaker’s headquarters in southern Seoul.Kim’s comment came as shareholders asked the management to establish a committee and improve
IndustryMarch 13, 2015
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LIG Nex1 partners with Cotecmar for patrol ships
LIG Nex1, a South Korean defense manufacturer, said Friday that it would collaborate with Cotecmar, a Colombian shipbuilder, to develop weapon systems for Cotecmar’s coastal patrol boats. LIG Nex1 CEO Lee Hyo-koo (left) poses with Rear Adm. Jorge Enrique Carreno Moreno, president of Colombia’s Cotecmar corporation, after agreeing to develop and provide LIG’s weapon systems for Cotecmar’s coastal patrol boats. (Yonhap)The Korean company signed the agreement with Cotecmar on Thursday as part of it
IndustryMarch 13, 2015