Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
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What's next for the government's push in quota hike?
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Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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N. Korea slams planned S. Korea-US military drills, warns of 'catastrophic aftermath'
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Robert J. Fouser] Social attitudes toward language proficiency
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[Graphic News] How much do Korean adults read?
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(Photo News) Technology show
President and CEO of consumer electronics at Samsung Electronics Yoon Boo-keun delivers a keynote address at the 2015 International CES at The Venetian Las Vegas in Las Vegas, Nevada, Monday. (AFP-Yonhap)
MobilityJan. 6, 2015
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Hyundai Motor to invest W81tr by 2018
Hyundai Motor Group, the world’s fifth-largest automaker, said Tuesday it would invest about 81 trillion won ($73 billion) over the next four years to improve facilities, expand production lines, develop core technologies for smart and green cars, and construct its headquarters building. Under the investment road map, the automaker is expected to spend an annual average of 20.2 trillion won through 2018, which would surpass its previous high of 14.9 trillion won in 2014.Hyundai Motor’s new inves
MobilityJan. 6, 2015
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[Graphic News] Changes after handset subsidy law took effect
Nearly one hundred days have passed since the controversial handset subsidy law took effect.The law, which prohibits telecom firms and handset makers from providing subsidies higher than 300,000 won to attract customers, has affected the pattern of subscription of mobile phones.Due to the subsidy limit that started on Oct. 1, the number of new subscribers sharply decreased in the first month. But then it started to recover, which government officials said indicates that the mobile phone market d
TechnologyJan. 6, 2015
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[Newsmaker] Samsung bets big on IoT
LAS VEGAS ― Samsung Electronics, the world’s largest electronics firm, said that its entire range of products would be connected through the Internet of Things technology by 2020. “Samsung will have all TVs connected through the IoT by 2017, and all other products by 2020,” said Yoon Boo-keun, head of the company’s consumer electronics business unit, in his opening keynote speech for the International CES on Tuesday. “Samsung will unlock infinite possibilities of the IoT by developing technology
TechnologyJan. 6, 2015
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Asia faces growth challenges: Global Asia
Asia managed to escape the worst of the financial crisis in 2008, but with continuing weakness in other parts of the global economy, especially in Europe, policymakers in Asia need to redouble efforts to address problems in their own economies in order to ensure sustainable growth in the region, according to the latest issue of Global Asia.“Now isn’t the time to be complacent about the challenges facing Asia’s major economies, because strong economic fundamentals here will ultimately determine w
Jan. 6, 2015
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Hyundai Motor scion makes rare appearance at CES
Chung Eui-sun, vice chairman of Hyundai Motor Group, visited the 2015 International CES in Las Vegas to showcase the firm’s future auto technology, the company said Tuesday.It is the first time the heir apparent of Hyundai Motor Group chairman Chung Mong-koo has attended the world’s largest consumer electronics trade show since 2011. Hyundai Motor vice chairman Chung Eui-sun (Yonhap)His attendance demonstrates the automaker’s attention to the global trend of convergence between cars and informa
IndustryJan. 6, 2015
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LG Display pledges to focus on OLED
LAS VEGAS ― LG Display, the world’s largest display-maker by sales, said Tuesday that it was committed to developing the organic light-emitting diode business this year despite challenges posed by rival products with cost efficiency and high-definition displays.“If the year 2014 was a time when we prepared the ground for the growth of the OLED market, this year will be a time when the OLED TV business will take off,” said Han Sang-beom, the chief executive of LG Group’s display business unit, at
TechnologyJan. 6, 2015
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Three bidders vie for Pantech takeover
The search for a new owner of the troubled Pantech, Korea’s No. 3 handset-maker, is gaining momentum as three foreign business groups have submitted bids for a takeover.The three bidders include a U.S.-based consortium consisting of a Korean private equity fund and a Latin American telecom carrier, a Chinese handset-maker, and a China-based IT service firm. Their names were not revealed due to the sensitivity of the ongoing negotiations, sources said. After years of financial struggles, Pantech,
TechnologyJan. 6, 2015
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LG Electronics seeks tech to improve customers’ lives
LAS VEGAS ― South Korean electronics powerhouse LG Electronics vowed to exert its utmost efforts to make consumers’ lives easier and smarter with its open technologies.“The Internet of Things is what connects everything we value with the innovations that are centered around our lives,” said Skott Ahn, LG Electronics chief technology officer, at a news conference at the 2015 International CES on Tuesday. “At LG, we’re taking an open approach to maximize the value offered to our customers through
TechnologyJan. 6, 2015
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Lotte heir dismissed from Japanese units
Shin Dong-joo, the eldest son of Lotte Group founder and general chairman Shin Kyuk-ho, was dismissed from his executive positions at three Lotte affiliates in Japan, Lotte Holdings in Japan announced on Monday. According to the company, during a meeting in December the board of directors decided that Shin Dong-joo would no longer serve as vice president of Lotte, as vice chairman and CEO of Lotte International, and as a Lotte Ice Cream executive. But he will remain vice chairman of Lotte Holdin
IndustryJan. 6, 2015
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Estee Lauder sharply raises duty-free prices
Global cosmetics and fashion player Estee Lauder Group increased the prices of its duty-free products by as much as 14.5 percent, company officials said Tuesday.The price hike affected the group’s popular brands including Estee Lauder, Clinique, Bobbi Brown, Origins, Lab Series and Aramis. “The price change may have been influenced by a number of factors, such as the exchange rate and marketing fees, which were one of the biggest factors this time,” an official from Estee Lauder’s duty-free team
IndustryJan. 6, 2015
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Auto recalls down 27% in Korea: data
The number of automobile recalls in South Korea shrank 27.2 percent in 2014 from a year earlier, a car safety agency said Tuesday, on the back of a decline for local carmakers.A total of 755,501 vehicles registered here were recalled for safety reasons last year, down from 1.04 million units in 2013, according to the data compiled by the Korea Transportation Safety Authority. The number of models affected, however, jumped 80.5 percent on-year to 352 from the previous 195.There were fewer recalls
Jan. 6, 2015
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Emission rights trading to kick off next week
Korea’s emission rights trading system will launch next week at the Busan headquarters of the Korea Exchange, the state-run bourse said Tuesday. The carbon derivative market will open Jan. 12, with the trading and payment service operated by the KRX. The trading hours will be from 10 a.m. to noon. Only the 525 companies approved by the Ministry of Environment are entitled to engage in trading. During the initial stage from 2015 to 2017, companies under the emission target will receive carbon all
Jan. 6, 2015
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Korean fund inflows up 14% in 2014: data
South Korean funds saw a sharp rise in net inflows last year as investors turned to indirect instruments amid record-low interest rates, while stock funds stayed weak from the tedious equity market, data showed Tuesday. The net asset value of stocks, bonds and real estate-related funds reached a combined 385.16 trillion won ($346.7 billion) at the end of 2014, up 13.93 percent from a year earlier, according to data by the Korea Financial Investment Association. The net asset value refers to the
Jan. 6, 2015
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Jeju Air to launch flights to Guam this week
Jeju Air Co., South Korea’s largest low cost carrier, said Tuesday that it will start flights on the route between Busan and Guam this week to meet growing demand. Starting on Thursday, the carrier will offer two flights per week on the route on Thursdays and Sundays, the company owned by Aekyung Industrial Co. said.This is the first time that the budget carrier will provide flights bound for Guam from a provincial region, not from South Korea’s main gateway of Incheon International Airport. The
IndustryJan. 6, 2015
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Legal battle looms over Moneual loan fraud
A legal battle between the Korea Trade Insurance Corp. and a group of local banks looms large as the state-run firm is moving to reject their demands for insurance payments over a huge fraud scandal involving a start-up.The trade corporation, also known as K-sure, will soon announce its final decision not to comply with insurance payments to the six local banks which paid some $304 million in soured loans to the firm Moneual, company officials said Tuesday.But some officials in the banking indus
Jan. 6, 2015
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Shares dip 2% on oil slump, eurozone woes
South Korean stocks dropped almost 2 percent Tuesday as a prolonged slump in oil prices and revived woes over the eurozone economy prompted broad market sell-offs, analysts said. The South Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index shed 33.3 points, or 1.74 percent, to 1,882.45. Trading volume was moderate at 299 million shares worth 4.66 trillion won ($4.24 billion), with losers beating gainers 577 to 233. Major market heavyweights remained in negati
Jan. 6, 2015
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SK Broadband subcontractors taken to police station after protests
About 200 union members of SK Broadband’s subcontractors were taken to a nearby police station for interrogation after holding a protest rally inside the company’s building in downtown Seoul on Tuesday. Earlier in the day, the protesters stormed and occupied SK Corp. building, which houses the broadband unit, to call for improving labor rights. Witnesses said the workers clashed with security personnel while attempting to enter the SK building in Seorin-dong.The protesters, who are mainly Intern
IndustryJan. 6, 2015
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Korea to invest $400m to develop new growth engines
Korea will invest over $400 million this year to help develop new and indigenous products and technologies that will help boost the country’s economy and exports, the government said Tuesday.The Ministry of Trade, Industry and Energy said the government seeks to develop 13 new industrial growth engines that include smart wearable devices, self-driving vehicles and a high-speed unmanned aerial vehicle that can take off and land vertically.For their development, the government will invest 254.8 bi
Jan. 6, 2015
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Combined sales of Hyundai, Kia in U.S. hit record high
LOS ANGELES (Yonhap) ― Hyundai Motor Group, the world’s fifth-largest automaker, said Monday that its U.S. sales reached an all-time high in 2014 despite lingering worries over slowing global economic recovery and intensifying competition from Japanese rivals supported by the weak yen.Hyundai Motor America and Kia Motors America, the distribution and marketing arms of the group’s flagship companies, said that they sold 725,718 cars and 580,234 vehicles last year, up 0.7 percent and 8.4 percent f
Jan. 6, 2015