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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[Grace Kao] American racism against Stray Kids
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In Beijing, S. Korean top diplomat aims to jumpstart ties with China
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NewJeans' members' parents complained to Hybe, email shows
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Suspect behind murder of Korean tourist in Pattaya arrested
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Prosecutors summon pastor involved in Dior bag scandal
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[Graphic News] Over 80% of people filing bankruptcy in Seoul in their 50s and older
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Daum Kakao launches taxi app for drivers
South Korea’s leading free messenger service operator Daum Kakao Corp. on Tuesday showcased a taxi application for drivers in its first step to start a full-fledged taxi service, adding the passengers’ version will also be released by the end of the first quarter.The release came a month after Daum Kakao signed a preliminary deal with the Seoul Taxi Association and Korea Smart Card Co. for the service that would link customers with the closest cab through a mobile app.Daum Kakao said all drivers
IndustryJan. 13, 2015
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Samsung’s patents in U.S. outnumber rivals
South Korea’s tech giant Samsung Electronics Co. had more U.S.-registered patents last year than its big name U.S. competitors, including Microsoft Corp. and Google Inc., according to the latest data Tuesday.Samsung had 4,952 items patented with the U.S. Patent and Trademark Office, ranking it second, the data compiled by U.S.-based IFI Claims Patent Services said. IBM topped the list with 7,534 patent registrations, keeping the No. 1 spot for the 22nd year. Japan’s Canon Inc. ranked third, trai
IndustryJan. 13, 2015
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Household loans increase by W7.5tr in November
Household loans extended by South Korean financial institutions rose by 7.5 trillion won ($6.9 billion) in November, slightly slowing from the previous month’s record gain but still marking a substantial increase, data showed Tuesday.Outstanding household lending by local lenders and non-banking institutions reached 738.2 trillion won in November, compared with 730.7 trillion won a month earlier, according to the data by the Bank of Korea.The on-month gain is slightly less than the record 7.8 tr
Jan. 13, 2015
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S. Korea needs to prevent won from soaring vs yen, euro
South Korea needs to prevent the local currency from excessively appreciating against other currencies like the Japanese yen and euro by encouraging the moderate outflow of U.S. dollars to back up its export-oriented economy, a researcher said Tuesday."If the won rose against the yen and euro at a time of a strong dollar, its negative impact would be increased," Park Sung-wook, a researcher at the Korea Institute of Finance, said."The government should consider taking measures to induce the grad
Jan. 13, 2015
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Taubman sees high growth potential in Korea
U.S. property developer Taubman seeks to expand its footing in South Korea where a growing number of people are starting to embrace shopping malls as a mainstream retail channel, its regional chief said Tuesday."The United States is a good market but with limited opportunities going forward to create new shopping centers because the market is mature. So we had to look where we wanted to be as a company to have some future growth," said Taubman Asia President Rene Tremblay. "We decided that Asia
IndustryJan. 13, 2015
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Seoul shares down 0.2 pct on crude oil woes
South Korean stocks ended 0.2 percent lower Tuesday as persistent worries over weakening global oil prices sapped investor sentiment, analysts said. The local currency lost ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index moved down 3.81 points to 1,917.14. Trading volume was moderate at 309.7 million shares worth 4.66 trillion won ($4.3 billion) with decliners outnumbering gainers 469 to 329."Concern over industries, including chemical, refined oil and steel, is gr
Jan. 13, 2015
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China's 2014 trade surplus surges 45.9 pct to 2.35 tln yuan
China's trade surplus jumped 45.9 percent from a year ago to 2.35 trillion yuan (about $379 billion) in 2014, although the world's second-largest economy missed its growth target for trade last year.Exports rose 4.9 percent to 14.39 trillion yuan, but imports fell 0.6 percent to 12.04 trillion yuan, the General Administration of Customs said, without immediately giving figures in dollar terms.China's net trade grew 3.4 percent last year, well below its annual target of 7.5 percent.Chinese leader
Jan. 13, 2015
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Hyundai unveils its first plug-in hybrid
South Korea's top carmaker Hyundai Motor Co. took the wraps off of its Sonata plug-in hybrid electric vehicle (PHEV) at a motor show in the U.S. on Monday (local time), its first-ever car that can be recharged to run on both gasoline and electricity."The Sonata Plug-in Hybrid is a first of its kind engineered and built by a South Korean company, and will be a symbol of our outstanding green vehicle technology," said Vice Chairman Chung Eui-sun of Hyundai Motor.The company released the details of
MobilityJan. 13, 2015
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Household loans up 7.5 tln won in Nov.
Household loans extended by South Korean financial institutions rose by 7.5 trillion won ($6.9 billion) in November, slightly slowing from the previous month's record gain but still marking a substantial increase, data showed Tuesday.Outstanding household lending by local lenders and non-banking institutions reached 738.2 trillion won in November, compared with 730.7 trillion won a month earlier, according to the data by the Bank of Korea.The on-month gain is slightly less than the record 7.8 tr
Jan. 13, 2015
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Ssangyong Motor to rehire former workers if business turns around
Ssangyong Motor Co. will consider rehiring workers who had left the company five years ago if the automaker turns a steady profit, the head of the automaker's parent group said Tuesday.Mahindra Group Chairman Anand Mahindra came to South Korea to celebrate the launch of the Tivoli small-size SUV, the first new vehicle launched by Ssangyong since it was purchased by India's Mahindra & Mahindra Ltd. in 2011."If the Tivoli is successful and if the turnaround of Ssangyong is successful, then I assur
MobilityJan. 13, 2015
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S. Korean shares surrender ground, trailing Wall Street losses
South Korean stocks traded lower late Tuesday morning as foreigners and institutions offloaded shares following overnight losses on Wall Street, analysts said.The benchmark Korea Composite Stock Price Index opened in negative territory and fell to 1,918.24 as of 11:20 a.m., a loss of 0.14 percent, or 2.71 points, from Monday' close.South Korean chipmaker SK hynix slipped 1.69 percent, and top steelmaker POSCO shed 2.41 percent. Naver, the country's largest portal operator, fell 0.93 percent.Sams
Jan. 13, 2015
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Gov't to revitalize economy by boosting consumption, investment
The government said Tuesday it will seek to revamp the local economy by boosting investment and domestic consumption and help improve the livelihoods of ordinary citizens.In a joint report to President Park Geun-hye in Sejong on the government's economic policy goals for this year, six economy-related ministries led by the Ministry of Strategy and Finance emphasized a "healthy" economy supported by domestic demand and exports."The government's economic policy for 2015 focuses on organic connecti
Jan. 13, 2015
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Samsung's patents in U.S. outnumber rivals
South Korea's tech giant Samsung Electronics Co. had more U.S.-registered patents last year than its big name U.S. competitors, including Microsoft Corp. and Google Inc., according to the latest data Tuesday.Samsung had 4,952 items patented with the U.S. Patent and Trademark Office, ranking it second, the data compiled by U.S.-based IFI Claims Patent Services said. IBM topped the list with 7,534 patent registrations, keeping the No. 1 spot for the 22nd year. Japan's Canon Inc. ranked third, trai
TechnologyJan. 13, 2015
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KOSDAQ market stages strong performance
South Korea's tech-heavy secondary stock market has staged a robust performance this year on expectations of upward momentum following the government's policy pledge to support financial technology, data showed Tuesday.The tech-laden KOSDAQ index rose 1.77 points, or 0.31 percent, to end at 574.76 on Monday, extending its winning streak to four sessions, according to the data by the Korea Exchange.The Monday closing index marks the highest since Sept. 25, 2014, when the comparable figure was 583
Jan. 13, 2015
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Daum Kakao launches taxi app for drivers
South Korea's leading free messenger service operator Daum Kakao Corp. on Tuesday showcased a taxi application for drivers in its first step to start a full-fledged taxi service, adding the passengers' version will also be released by the end of the first quarter.The release came a month after Daum Kakao signed a preliminary deal with the Seoul Taxi Association and Korea Smart Card Co. for the service that would link customers with the closest cab through a mobile app.Daum Kakao said all drivers
TechnologyJan. 13, 2015
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S. Korean tech firms in push for QDOT TVs in 2015
South Korean tech companies are expected to kick off mass production of their quantum dot TVs this year, analysts said Tuesday, amid intense competition with Chinese rivals to gain an upper hand in the global market with the advanced technology.Samsung Electronics Co., the world's top maker of smartphones and memory chips, is set to hold a local launching event for its latest TV lineups in late February, at which it will likely release its quantum dot model, dubbed SUHD TV, for sale.A quantum do
TechnologyJan. 13, 2015
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Seoul shares open lower on Samsung shares
South Korean stocks opened lower on Tuesday as shares of Samsung affiliates dragged down the main stock index, analysts said.The benchmark Korea Composite Stock Price Index moved down 4.11 points, or 0.21 percent, to 1,916.84 in the first 15 minutes of trading.Tech giant Samsung Electronics fell 0.30 percent, and Cheil Industries, the de facto holding company of Samsung Group, dropped 2.37 percent. Tech solutions provider Samsung SDS also tumbled 3.46 percent.Retailers were also trading in negat
Jan. 13, 2015
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Planned stake sale in Hyundai Glovis fails
A planned stake sale of the logistics unit of Hyundai Motor Group by Chairman Chung Mong-koo and his son has failed, market sources said Tuesday, apparently due to its massive scale and sales conditions. Chung and Eui-sun, vice chairman of Hyundai Motor Co., had sought to sell a combined 13.4 percent in Hyundai Glovis Co. with about 5 million shares to be offloaded through a block deal.Investment bank sources said that the sale has not gone through as planned because its scale was too big to be
IndustryJan. 13, 2015
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Corporate facility investment expected to increase this year
South Korean manufacturers are likely to increase their facility investment in 2015 with makers of appliances, machineries and autos taking the lead, a business poll showed Tuesday.According to the survey of 500 manufacturers by the Korea Chamber of Commerce and Industry, the manufacturers' facility investment is predicted to rise an average 3.4 percent this year from a year ago.Of the respondents, 31.4 percent said they will increase their capital expenditures this year to expand existing facil
CompaniesJan. 13, 2015
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Samsung to release slimmest smartphone in Jan.
Samsung Electronics Co. said Tuesday it plans to launch its slimmest smartphone later this month at home and in major emerging countries to bolster low-end sector amid the ise of Chinese rivals eating into its shares.The world's No. 1 maker of smartphones said the Galaxy A7, only 6.3 mm thick, will be released in the South Korean, Chinese, and Indian markets at the end of January. The model is an upgrade from the Galaxy A3 and A5 launched earlier in the three emerging markets.With a 5.5-inch dis
TechnologyJan. 13, 2015