Most Popular
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Controversy rekindled over when to name criminals, suspects
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Seoul transit pass for travelers to be available starting July
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Hybe-Ador CEO conflict gets messier
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Battery makers ramp up efforts to diversify graphite supply chain
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Prosecutors to summon pastor who allegedly gave Dior bag to first lady
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‘Monk’ DJ spreading Buddhism goes global
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[KH Explains] Hyundai Motor’s plan for new landmark keeps hitting bumps
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[LLG] Unseen inheritance: Trauma of transnational adoption 'trickles down' to adoptees' children
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Seoul vows action over Naver's Line, Yahoo dispute
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Court's ruling set to shape path of medical school expansion
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Big firms skip year-end brouhaha, offer days off instead
South Korean conglomerates are skipping official year-end ceremonies and recommending employees to take their annual leave to close out 2023. Samsung Electronics, the country’s largest conglomerate, is rounding out the year without any official year-end ceremony -- or "jongmusik" in Korean -- according to a Samsung official. The conglomerate will hold an official ceremony to kick off the new year -- or "simusik" -- on Jan. 2, 2024, bringing together top executives and e
Dec. 20, 2023
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Dongsuh Foods offers winter coffee at Maxim Plant
South Korean food and beverage manufacturer Dongsuh Foods welcomes customers to experience a cozy winter at Maxim Plant, a cultural center with a cafe featuring its flagship coffee brand. Located in Hannam-dong in central Seoul, the cultural space was opened in 2018, with the aim of introducing its coffee brand Maxim. Calling itself “a garden in the city, a coffee factory in the forest,” Maxim Plant is a dedicated space to display its roasting expertise and manufacturing process, whi
Dec. 20, 2023
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LS Cable develops new raw material for copper foil
LS Cable & System, South Korea’s leading cable manufacturer, said Wednesday that it has become the first in the industry to develop a new raw material for copper foil, accelerating its expansion into rare earth element and green businesses. CuFlake marks the world’s first case of utilizing copper metal pieces instead of copper wire to produce copper foil which is widely used in electric vehicle components and mobile gadgets. The company recently completed a successful sample te
Dec. 20, 2023
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[KH Explains] What’s behind life insurance companies' rush into senior care industry?
Insurance companies are seeking to capture business opportunities in the senior care and retirement community industry with the country quickly approaching having the world's oldest population. Tucked into a quiet neighborhood in central Seoul, KB Financial's arm for senior nursing care, KB Golden Life Care, will launch a five-story housing complex at the end of this month. The retirement community -- KB Pyeongchang County -- will house 164 sets of senior residents as either singles or
Dec. 20, 2023
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French business tycoons visit Korea to meet with KCCI
Business lobby group Korea Chamber of Commerce and Industry held a meeting with delegation of the Movement of the Enterprises of France (MEDEF), the largest employer federation in France, to discuss ways to develop cooperation in the fields of human resources and business between the two countries. Hanwha TotalEnergies Petrochemical CEO Laurentius Na, who was recently named by the KCCI to lead business cooperation with France held talks with his counterpart Air-Liquide CEO Francois Jackow who
Dec. 19, 2023
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Shinsegae Duty Free, Cathay Pacific partner to draw in independent travelers
Shinsegae Duty Free, Korea's leading duty-free brand, said Tuesday it has joined hands with Hong Kong airline Cathay Pacific to establish a membership mileage partnership program. This marks the first time for a domestic duty-free company to enter into a marketing agreement with a global air carrier. The strategic move is aimed at drawing in more individual tourists to duty-free shops, responding to the changing trend of those visiting Korea. Whereas previously there were more tourists from
Dec. 19, 2023
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Korea should be 'rule setter': KCCI chief
South Korea should step up to become a "rule setter" from being a "rule taker" by collaborating with Japan, as well as keep a balance between the United States and China, SK Group Chairman Chey Tae-won, who doubles as chairman of the business lobby group Korea Chamber of Commerce and Industry. Underscoring that the current protectionist trend around the world is "very unfavorable" for South Korea, Chey said the country should come up with ways to expand its market s
Dec. 19, 2023
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Mirae Asset founder recognized as global business leader
Mirae Asset Financial Group founder and Chairman Park Hyeon-joo received the International Executive of the Year Award from the Academy of International Business, a leading association of scholars and specialists in international business, according to the finance firm's announcement Tuesday. The award, presented annually by the AIB, recognizes business leaders who have significantly improved their company’s reputation and performance on the global stage. Chairman Park secured the awa
Dec. 19, 2023
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[Photo News] Holiday Season
S-Oil has set up the GooDoil tree, a caked-shaped, 5.5-meter-tall Christmas tree featuring the company's mascot, at Seoul Station and another at Ulsan Station to celebrate the holidays, the oil refiner said Tuesday. S-Oil is carrying out an Instagram event that will give out flight tickets and mobile gas tickets to those who post a picture of the GooDoil tree on the social media platform through Jan. 9. (S-Oil)
Dec. 19, 2023
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Harim named preferred bidder for top container shipper HMM
A consortium led by Harim Group was picked Monday as the preferred bidder for South Korea's top container shipper HMM Co., controlling shareholders said, heralding the start of its privatization. Last month, two state agencies -- the state-run Korea Development Bank (KDB) and the Korean Ocean Business Corp. -- conducted a final bidding for their controlling stake in HMM, drawing the Harim-JKL Partners consortium and Dongwon Group. The Harim-led consortium reportedly offered to pay some 6.4
Dec. 18, 2023
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How GC Biopharma has become only firm to export blood product plants
South Korea’s leading plasma protein and vaccine manufacturer GC Biopharma is the world’s only company that exports plasma fractionation plants to isolate and produce critical blood products. While global pharmaceutical giants operate their own plants to enter new markets, the Korean firm not only builds new facilities but also shares its operational know-how with countries that are heavily reliant on imports when it comes to plasma-derived blood products. In 2013, GC Biopharma sig
Dec. 18, 2023
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Overseas construction orders to exceed $30b for fourth year
The South Korean construction sector is anticipated to maintain its streak of surpassing $30 billion in overseas orders for the fourth consecutive year, approaching the government's target of reaching this year's $35 billion goal. The total overseas orders that Korean builders have received as of Dec. 15 this year amounted to $29.25 billion, according to the Ministry of Land, Infrastructure and Transport on Monday. The figure is a 7.2 percent increase from the $27.29 billion tallied in
Dec. 18, 2023
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LG Electronics to unveil next-gen transparent antenna for cars
LG Electronics said Monday it will unveil its next-generation transparent antenna that will enhance telecommunication for cars at the upcoming CES 2024, slated for January in Las Vegas. The film-type antenna has been designed in collaboration with a renowned French glass manufacturer Saint-Gobain Sekurit, and is available as an on-glass or in-glass solution, LG said. According to the company, the transparent antenna can be seamlessly integrated in car windshields or glass sunroofs, meaning carma
Dec. 18, 2023
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SUV sales near double of sedans in S. Korean market
Sport utility vehicle sales in the South Korean market are projected to surpass 900,000 units in 2023 for the first time, marking a significant milestone as SUV sales rapidly approach double that of sedans. There were 856,362 new SUV registrations, including recreational vehicles, in the first 11 months of 2023, data from the Transport Ministry analyzed by the CarIsYou data lab showed Monday. This exceeds the 837,948 SUV units sold throughout 2022 and represents the highest annual total since 20
Dec. 18, 2023
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Celltrion's Cosentyx biosimilar gets nod for phase 1 study in Japan
South Korean biosimilar giant Celltrion said Monday it has gained approval for a phase one clinical trial of CT-P55 from a Japanese regulatory authority. CT-P55 is Celltrion's new biosimilar candidate referencing Novartis’ psoriasis treatment Cosentyx (Secukinumab). Upon approval from the Tokyo-based Pharmaceuticals and Medical Devices Agency, Celltrion will conduct a phase one clinical study with a total of 171 Japanese adults to compare the pharmaceutical equivalence of CT-P55 to
Dec. 18, 2023
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[Contribution] It’s time for Korea to rethink its liquor laws
By Olivia Widen Since the COVID-19 pandemic started, almost every industry has seen exponential growth in e-commerce, and the liquor market is no exception. Despite the overall return of consumption patterns to pre-pandemic levels, online sales of alcohol are forecast to show steady growth. In its 2022 Global E-commerce Strategic Study, the International Wine & Spirit Research (IWSR) predicted that online alcohol sales in 16 key global markets would reach nearly $40 billion by 2026. Mark
Dec. 17, 2023
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Hyundai Motor, UAE fund team up on hydrogen, future mobility
Hyundai Motor Co. and Mubadala Investment Co., the United Arab Emirates sovereign wealth fund, have entered into a partnership set to advance projects in hydrogen energy, green aluminum production, eco-friendly mobility solutions, and advanced air mobility. This agreement was sealed at a signing ceremony in Abu Dhabi's Mubadala Tower on Friday, with Chang Jae-hoon, president and co-CEO of Hyundai Motor, and Waleed Al Mokarrab Al Muhairi, the deputy group CEO of the Investment Committee at
Dec. 17, 2023
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Mirae Asset's Hong Kong unit marks 20th anniversary
Mirae Asset Global Investments said Sunday that its Hong Kong unit, its first overseas operation, has marked its 20th anniversary. The Hong Kong subsidiary, founded in 2003, has been pivotal to the company's overseas expansion. In 2005, it launched Mirae Asset Asia Pacific Star Securities Investment – the first fund to be managed directly overseas. It also facilitated overseas investment opportunities for Korean investors by introducing various emerging market funds including BRICS --
Dec. 17, 2023
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LG donates W12b to support neighbors in need
LG Group said Sunday that it has donated a total of 12 billion won ($9.24 million) to Community Chest of Korea, a local charity organization, as part of its year-end charitable giving. The ceremony was held at the charity’s Seoul office on Friday, with officials including CCK Chairman Kim Byong-joon and LG President and Head of Management Support Division Ha Beom-jong in attendance. "We hope that our neighbors in need can spend a warm year-end with hope and courage," said LG Pres
Dec. 17, 2023
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LG Electronics supplies automatic frying machines to BHC
BHC, one of South Korea’s biggest fried chicken franchises, said Friday it has adopted automatic frying machines from LG Electronics on a trial basis. “BHC has introduced LG Electronics' automatic frying machines to some BHC stores in the country. The company plans to expand the adoption of the machine after testing its efficiency,” the BHC official said. The automatic frying machine, known as Tuiibot, developed by an internal venture unit under LG Electronics’s busi
Dec. 15, 2023