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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Preparing for worst saves lives: flood expert
People working on water management issues should always assume and prepare for the worst when it comes to natural disasters and climate change, according to Philippe Gourbesville, the director of Polytech Nice Sophia in France. “The key to understanding the importance of water management is the uncertainty of the future. In the past, it was easy to predict with statistics. The problem now is that we have just realized that the future (climate and environment) will change and we need to be prepar
IndustryJuly 24, 2014
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BOK to issue coins honoring pope's visit
South Korea's central bank said Thursday it will release a set of commemorative coins to celebrate Pope Francis' upcoming visit to the country next month.The pope is scheduled to visit South Korea on Aug. 14-18, during which he will conduct four Masses, including one for the beatification of 124 Korean Catholic martyrs and another for a gathering of Catholic youths in Asia.He is also expected to console families of those who died in the mid-April Sewol ferry disaster. It is his first visit to As
July 24, 2014
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EU delays decision on designating Korea an illegal fishing country
The European Union on Wednesday postponed its decision on whether to designate South Korea as a country conducting illegal fishing in the deep oceans on the heels of heightened efforts from the government here to hold off related sanctions. “After the European Commission had warned three countries -- Curacao, Ghana and South Korea -- that they were not doing enough to fight illegal fishing in November 2013, it will now grant each country an extra six months. The Commission will review their pr
July 24, 2014
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S. Korea revises down growth outlook to 3.7 pct for this year
South Korea's economy will grow 3.7 percent in 2014, the government predicted Thursday, revising down its previous estimate as it worried that anemic consumption and slowing exports growth could hurt its overall economic recovery.The latest estimate is lower than the 3.9 percent gain the government expected earlier this year, later hiked to 4.1 percent to reflect amended statistics standards, according to the finance ministry. The government also projected the economy will grow 4 percent in 2015
July 24, 2014
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Govt's major economic measures unveiled in economy management plan
The following are key measures from the government's economy management plan to be carried out by newly inaugurated Finance Minister Choi Kyung-hwan. The plan mostly focuses on boosting domestic demand, stabilizing people's livelihoods and reforming the country's economic structure. Expansionary macroeconomic policy - Injects 40.7 trillion won in fiscal and financial support to boost economic recovery - Strengthens fiscal support by 11.7 trillion won during the second half - Expands poli
July 24, 2014
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S. Korea to inject 40.7 tln won for economic recovery
South Korea plans to implement a macroeconomic policy package worth about 40.7 trillion won (US$39.7 billion) to kick-start an economic recovery beset by anemic domestic demand, slowing exports growth and deepening uncertainties at home and abroad, the finance ministry said Thursday.The government will also execute its macroeconomic policy in an "expansionary" manner until its intended impact materializes, the ministry added. The stance will be maintained when drawing up a budget for next year a
July 24, 2014
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Paris Baguette opens first store in Paris
SPC Group’s bakery brand Paris Baguette landed in Paris on Wednesday with hopes of wooing French customers in their home country. The new store, named Paris Baguette Chatelet, is located near the Pont Neuf Bridge, Notre Dame Cathedral, Louvre Museum and other tourists’ destinations, according to SPC. It is the first Paris Baguette outlet to open in Europe. “We regard France as the spiritual home of our bakery products,” said SPC Group chairman Hur Young-in. “The opening of our Paris store highli
IndustryJuly 23, 2014
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Naver to offer easier access to financial information
The public is to have easier access to financial information in the future, thanks to a partnership between the Financial Services Commission and the nation’s biggest portal Naver.FSC chairman Shin Je-yoon and Naver CEO Kim Sang-hun on Tuesday signed a memorandum of understanding to display important financial information about government policies on Naver’s Web browsing service, according to officials on Wednesday.Users may thus find professional policy information, such as on the FSC’s recent
July 23, 2014
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Seoul shares take breather after hitting yearly high
South Korean stocks took a breather Wednesday after hitting a yearly high the day before, closing flat from net selling by institutions and private investors, analysts said. The local currency rose against the U.S. dollar. Starting the day in negative territory, the benchmark Korea Composite Stock Price Index finished at 2,028.32, down a marginal 0.03 percent, or 0.61 point, from the previous trading session. Tuesday’s closing number of 2,028.93 was the highest for the country’s main bourse this
July 23, 2014
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Korea faces growth challenges: SC Bank
The Korean economy is facing increasing long-term growth challenges, including high household debt and an aging population, according to a report by Standard Chartered Bank.Strong exports and record-high foreign exchange reserves may bring about short- and mid-term growth, but slow domestic consumption, rising household debt and falling employment quality pose a risk to the economy’s future, the bank said in the report.“South Korea’s economy is like a glass that’s half empty or half full,” it sa
July 23, 2014
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Pension service holds over 5% stake in 83 chaebol affiliates
The National Pension Service holds more than a 5 percent share in firms affiliated with the nation’s top 30 conglomerates, data showed Wednesday. South Korea’s state-run pension fund held such stakes in more than 83 conglomerate affiliates as of Monday that together were worth 55.15 trillion won ($53.88 billion), according to information compiled by local research firm CEO Score.It holds stakes worth 20.63 trillion won in 13 Samsung Group affiliates. The NPS holds over 10 percent in stakes in Sa
July 23, 2014
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Average dividend yield for top business groups significantly low
The dividend yield ratio of South Korea’s top 10 business groups averaged 0.8 percent last year, delivering even less than interest on bank deposits, industry data showed Wednesday.The 92 affiliates of the country’s top 10 conglomerates paid 7.29 trillion won ($7.13 billion) in dividends in fiscal 2013, posting a 0.82 percent dividend yield ratio, according to Chaebul.com, which tracks the country’s conglomerates. The dividend yield ratio, a percentage of the share price a company returns to inv
July 23, 2014
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Ssangyong Motor to include regular bonuses as ordinary wages
Ssangyong Motor Co., the local unit of Indian sport utility vehicle maker Mahindra & Mahindra, said Wednesday that it has offered to count regular bonuses as part of ordinary wages to settle labor disputes. Industry sources said the management made the proposal during talks with union representatives the day before. The move can raise all types of allowances such as overtime pay and severance pay that can exert negative influence on the company’s bottom line.Last Thursday, GM Korea Co., the loca
MobilityJuly 23, 2014
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Samsung SDS to increase global ICT market presence
Samsung SDS, a systems integration business arm of Samsung Group, aims to boost its presence in global markets based on its competitive edge in the information and communication technology solutions business. As the first step toward becoming a leading global ICT firm, Samsung SDS will put more focus on improving its capability to conduct overseas projects and developing high-value-added ICT solutions in a wide range of fields, such as health care, education and security, according to the compan
TechnologyJuly 23, 2014
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LG Display’s second-quarter net profit up 143.3%
LG Display Co. saw its net profit soar 143.3 percent in the second quarter from a year earlier, data showed Wednesday, as the rising price of TV panels overwhelmed sluggish sales of panels for smartphones and tablet PCs. Net profit reached 256 billion won ($250 million) in the second quarter, compared with 105.2 billion won on-year, LG Display said in a regulatory filing. The figure also marked a turnaround from a net loss of 81.9 billion won in the January-March period.Sales dropped 9 percent o
TechnologyJuly 23, 2014
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Windshield navigation may become a reality
Displaying navigation information on car windshields may become reality in about a decade, according to a local display expert. “If thin, transparent and curved display panels could be attached to a windscreen, drivers would be able to see navigation information displayed there,” Chu Hye-yong, head of the Electronics and Telecommunications Research Institute’s display research department, said in an interview with The Korea Herald. The related technology is expected to become commercialized by n
IndustryJuly 23, 2014
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Google made failed bid for Spotify
Internet titan Google tried last year to buy streaming music service Spotify but backed off for reasons including a whopping price tag, the Wall Street Journal reported on Tuesday.The Journal cited an unnamed source as saying that Sweden-based Spotify was asking for more than $10 billion despite being valued about $4 billion in its latest round of equity funding.Spotify is the world’s leading service for streaming music on the Internet, claiming 40 million users in 56 countries as of May.While t
TechnologyJuly 23, 2014
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Microsoft CEO sees ‘bold’ plan as Q4 tops Wall Street
Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units ― Nokia phones and Bing search ― would become profitable in 2016.The agenda, announced Tuesday as Microsoft reported fourth-quarter earnings that beat Wall Street expectations, helped boost the company’s shares, which added 52 cents, or 1.2 percent, to $45.35 in after-hours trading. Five months after
TechnologyJuly 23, 2014
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Osong bio expo to offer glimpse of future life
The upcoming international bio exposition in South Korea will provide visitors with a glimpse into the life that biotechnology will bring about, its organizers said Wednesday. The Osong International Bio Industry Exposition, set to kick off in September in the country’s central city of Osong, “will present how life will look like in the future in accordance with the development of the cell-based industry,” said Lee Cha-young, secretary general of its organizing committee.“The Bio Future Hall, on
IndustryJuly 23, 2014
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Paris Baguette opens first store in Paris
SPC Group’s bakery brand Paris Baguette landed in Paris on Wednesday with hopes of fulfilling its aspirations to woo European customers in their home country. The new store, named Paris Baguette Chatelet, is located near the Pont Neuf Bridge, Notre Dame Cathedral, Louvre Museum and other tourists’ destinations, according to SPC. It is the first Paris Baguette outlet to open in Europe. “We regard France as the spiritual home of our bakery products,” said SPC Group Chairman Hur Young-in. “The open
IndustryJuly 23, 2014