Most Popular
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Seoul vows action over Naver's Line, Yahoo dispute
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[KH Explains] Hyundai Motor’s plan for new landmark keeps hitting bumps
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Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
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Samsung doubles down on Vietnam
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In Beijing, S. Korean top diplomat aims to jumpstart ties with China
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Prosecutors summon pastor involved in Dior bag scandal
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Suspect behind murder of Korean tourist in Pattaya arrested
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NewJeans' members' parents complained to Hybe, email shows
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[Grace Kao] American racism against Stray Kids
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[Graphic News] Over 80% of people filing bankruptcy in Seoul in their 50s and older
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S. Korea's antitrust watchdog takes aim at global tech companies
South Korea's antitrust watchdog said Sunday it will be looking at global tech companies that may be abusing their monopolistic control to disrupt fair competition in the local market, a move some insiders say may extend to Google and Apple."The plan is to check the information technology and electronics sectors to see whether the dominant actors are abusing their control," Fair Trade Commission chairman Jeong Jae-chan said, adding that greater resources will be allocated to examining the local
Feb. 1, 2015
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Over one-third of listed companies hit by 'earnings shock' in Q4
More than a third of South Korea's listed companies experienced "earnings shock" in the fourth quarter, underperforming market expectations that were already low, a local corporate tracker said Sunday.According to FN Guide, 20 of the 55 listed companies that filed earnings reports for the October-December period as of Jan. 30, or 36.36 percent, suffered lower-than-anticipated earnings.Only 12, or 21.82 percent, did better than expected for an earnings surprise.Brokerages generally classify earni
IndustryFeb. 1, 2015
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January mortgage loans fall sharply, but watchers say the trend may be temporary
The pace of increase in mortgage loans visibly slowed in January, preliminary data from banks showed Sunday, but market watchers say it is too early to tell whether it speaks for a bigger trend that is here to stay.Home-backed loans by six major commercial banks reached 300.99 trillion won ($274.68 billion) as of end-January, up 285.2 billion won from the end of the previous month. The pace of increase is in dramatic contrast with the fourth-quarter months when such loans jumped more than 3 tril
Feb. 1, 2015
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Brokerages predict better Samsung earnings in Q1 as tech giant
South Korea brokerages are predicting a rebound in earnings for Samsung Electronics Co., which was hit hard by disappointing sales and stiffer competition last year, as the tech giant gets ready to launch new models in 2015.The average estimates given by 20 local securities for the January-March period said the firm would mark 5.2 trillion won ($4.74 billion) in operating profit, roughly on par with 5.29 trillion won reached in the fourth quarter of 2014.They said the more upbeat forecasts refle
IndustryFeb. 1, 2015
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Hyundai, Kia's global market share stuck at 8.8 pct: data
South Korea's largest carmaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. were unable to draw in a larger share of the global auto market in the past three years, data showed Sunday, held back by persistent exchange rate disadvantages that have given an edge to overseas rivals.The car-making duo's combined market share stood at 8.8 percent out of a total 87.17 million vehicles sold worldwide last year, according to the data compiled by U.S.-based research firm LMC Automotive.Al
MobilityFeb. 1, 2015
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S. Korea's exports shrink 0.4 pct on-year in Jan.
South Korea's exports inched down from a year earlier in January, but its trade surplus jumped as imports dropped at a faster rate, the government said Sunday.The country's overall outbound shipments slipped 0.4 percent on-year to $45.37 billion last month, according to the Ministry of Trade, Industry and Energy.Imports plunged 11 percent on-year to about $39.84 billion.The trade surplus came to $5.53 billion, compared with a surplus of $810 million in the same month last year.January marked the
Feb. 1, 2015
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Samsung takes over Brazil's largest printing solutions provider
Samsung Electronics Co. has taken over Brazil's No. 1 printing solutions company, Simpress, to bolster its printing business in the Latin American market, industry sources said Saturday.The tech giant recently signed a contract to take over a 100-percent stake in Simpress with a plan to run it as a subsidiary, they said.The Sao Paulo-based firm provides printing outsourcing solution services to local companies, financial and public organizations.Samsung plans to sell its printers through Simpres
IndustryJan. 31, 2015
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[Weekender] Restaurants ride on superfoods boom
“Superfood” is not a scientific term. It is a marketing term for nutrient-rich food and a growing number of food-makers and restaurants are adopting the word in their sales and marketing strategies. Korea’s top hotel restaurants and food franchises agree that true superfoods share something more than just nutrition. While this year’s superfoods are not necessarily “better” than those of a decade ago, they are seasonal, fresh, and preferably grown locally. Locally grown fresh seaweed and shellfis
IndustryJan. 30, 2015
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[Weekender] Multigrains imports sharply increase
As Koreans have become more health-conscious over the past few years, the popularity of superfoods, particularly internationally renowned multigrains like quinoa, has increased across the country. According to Lotte Mart, sales of imported grains in the first half of 2014 increased by 330 percent compared to the same period a year ago. Here are some of Korea’s favorite grains.QuinoaQuinoa hails from the Andes, and is referred to as “the grain of the gods.” According to Japan’s Ministry of Educat
IndustryJan. 30, 2015
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[Weekender] Korean foods gain recognition abroad
While Koreans are increasingly consuming imported superfoods, there are also some Korean foods that are recognized overseas for their nutritional benefits. Here are some homegrown foods that have been mentioned in foreign publications over the past few years for their health benefits. SeaweedIn a story covering Wando Seaweed Festival, held in Korea last September, the Wall Street Journal highlighted seaweed soup, traditionally eaten by mothers after giving birth in Korea, as it contains iodine,
IndustryJan. 30, 2015
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[Weekender] Juicing for health
Juicing has become popular across the country. Many Koreans put drinking a glass of fresh fruit or veggie juice a day on their list of New Year’s resolutions, and most coffee chains have begun selling fresh juices. A fresh juice bar run by Organica at a branch of high-end supermarket chain Super Star in southern Seoul. (Organica)Behind the boom is the craze for cleansing the body of toxins with juice ― the so-called “juice cleanse.’’Drinking “detox’’ juice has become a daily routine for many Ko
IndustryJan. 30, 2015
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[Weekender] Korea’s latest well-being movement
For Lee Kyung-ja, a 63-year-old housewife who has lived in Latin America for more than 40 years, the biggest concern ahead of her planned return to Korea was food.Having lived in Bolivia, the home of a slew of so-called superfoods like quinoa and lentils, she had no idea how to maintain her decade-old eating habits. But her concerns vanished during a recent visit to Seoul. “I was pleasantly surprised that almost all food items from Latin America are available at local supermarkets. There were ev
IndustryJan. 30, 2015
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Samsung to buy back jet planes from Hanwha
Samsung Electronics’ Boeing business jet, the B737-700Samsung Group, which sold four business units to Hanwha Group in November, is considering buying back the jet planes and helicopters that are used by its owner family.Samsung said Friday that it hopes to acquire three planes and six helicopters, with a 5 percent stake owned by Samsung Techwin ― an aerospace parts producer that was sold to Hanwha as part of the 1.9 trillion won ($1.7 billion) package deal.Samsung Techwin has operated a team th
TechnologyJan. 30, 2015
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Hyundai fast-tracks relocation plan
Hyundai Motor Group plans to relocate some of its subsidiaries to the former KEPCO headquarters in southern Seoul. (Yonhap)Hyundai Motor Group said Friday it would speed up its planned relocation to Samseong-dong, southern Seoul, to help the local economy ahead of its complete ownership of the site formerly owned by Korea Electric Power Corp.In September, the Korean auto giant purchased the 80,000-square-meter site for 10.5 trillion won ($10 billion) from the state-run power agency in a bid to c
IndustryJan. 30, 2015
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S-Oil’s Q4 net tumbles on plunging oil prices
S-Oil, South Korea’s third-largest refiner, said Friday it logged a bigger net loss in the fourth quarter on-year as a steep fall in oil prices hurt the value of its crude stockpile.The net loss came to 248.64 billion won ($226.16 million) in the October-December period, further widening from the 27.5 billion won loss a year ago, S-Oil said in a regulatory filing. Sales were down 22.1 percent to 6.2 trillion won in the period, with the company recording an operating loss of 213.2 billion won. Th
Jan. 30, 2015
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BOK sees both upside, downside risks in inflation
South Korea’s consumer prices face both upside and downside risks this year ― sliding oil prices and volatile agricultural prices ― the country’s central bank said Friday.Additional falls in oil prices and a prolonged slump in domestic demand are expected to drag down the inflation rate in Asia’s fourth-largest economy this year, while uncertainties over agricultural prices pose upside risks, according to a semiannual report by the Bank of Korea.The report comes after the central bank slashed it
Jan. 30, 2015
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Korean Air chairman Cho testifies in ‘nut rage’ trial
Korean Air chairman Cho Yang-ho answers questions from reporters before stepping into a court in Seoul on Friday. (Yonhap)Korean Air chairman Cho Yang-ho testified as a witness in a Seoul trial on Friday over his daughter’s alleged breach of aviation safety regulations.The Seoul Western District Court questioned the 65-year-old chairman on whether the senior steward Park Chang-jin, who was allegedly assaulted by Cho’s daughter and forced off the Seoul-bound Korean Air flight in New York last mon
IndustryJan. 30, 2015
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Japan's Orix picked as preferred bidder for Hyundai Group's brokerage arm
Japan's Orix Corp. has been picked as the preferred bidder for a controlling stake in Hyundai Securities Co., the fourth-largest brokerage firm by market cap, financial sources said Friday.Earlier this week, Orix Corp. and South Korean private equity firm Pinestreet had submitted their bids for a 36 percent stake in Hyundai Securities.The Korea Development Bank, the lead manager for the deal, will allow Orix to conduct due diligence on the brokerage for one month and complete the deal before Jun
Jan. 30, 2015
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[Herald Interview] Profitable investment requires institutional insight: SC official
Pursuing profits in volatile markets will inevitably lead to risks.The role of financial companies, including asset management firms and banks, is to provide an institutional way of thinking and guidance to their clients, according to a top executive of Standard Chartered Bank Korea.“People, even experts, may have their (own) personal views concerning economic situations and prospects,” Rajesh Kannan, regional head of SC’s wealth management department in Korea, told The Korea Herald.Rajesh Kanna
Jan. 30, 2015
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S. Korea's energy import volume inches up in 2014
South Korea's energy imports measured in volume edged up in 2014 from a year earlier, mainly due to more demand from the industrial sector, customs data showed Friday.According to the data from the Korea Customs Service (KCS), South Korea brought in 298.53 million tons of crude oil, coal and natural gas in the 12-month period, up from 295.95 million tons reported for 2013. It said, in particular, the fourth quarter saw energy imports jumping to 75.74 million tons, the highest amount tallied for
Jan. 30, 2015