Most Popular
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Debate rages over ‘overly fatty’ samgyeopsal
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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S. Korea, China, Japan in talks to hold trilateral summit May 26-27: official
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Govt. asks hospitals to mitigate impact of medical professors' absence
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1,000 hydrogen-powered buses to be on road in Korea by 2022
A thousand hydrogen-powered buses are slated to hit the road in South Korea by 2022, starting with five cities, including Seoul and Ulsan next year. At a meeting convened Tuesday by the minister of trade, industry and energy, Paik Un-gyu, the government said it would ease regulations on production and transportation of hydrogen-powered buses. The meeting was attended by Korea Gas Corp. President Cheong Seung-il, Hyundai Motor Vice President Park Kwang-sik and the heads of four related companies.
July 24, 2018
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Global pharma firm leaders laud Korea's clinical trial development
South Korea has high potential to become a major part of the global biopharma business ecosystem with its openness for collaboration and swift clinical trial process, according to executives of major multinational pharma firms operating in Korea. “High technology, good work ethics and talented people are making Korea a good breeding ground for collaboration,” Christophe Piganiol, president of Zuellig Pharma Korea, said during a roundtable discussion earlier this month co-organized by The Korea H
July 24, 2018
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[Newsmaker] Samsung, victims agree to accept upcoming mediation on work-related illness
Samsung Electronics Co. and the advocacy group representing victims of work-related diseases Tuesday inked an agreement to accept upcoming mediation on the long-standing dispute surrounding compensation, which has lasted more than 10 years.In a landmark decision to end the long drawn-out case, the tech giant decided to accept any proposal made by the mediation committee, which will be delivered in two months. The Supporters for the Health and Rights of People in the Semiconductor Industry also d
July 24, 2018
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Samsung BioLogics Q2 operating profit jumps 137% to W23.7b
Samsung BioLogics, a contract drug manufacturer under South Korea’s Samsung Group, said Monday that its operating profit rose 137 percent on-year to 23.7 billion won ($20.95 million) in the second quarter on the back of increased production at its second plant. Revenue in the April-June period came in at 125.4 billion won, down 4.3 percent on-year, due to spending on preparatory procedures for a new production cycle at the first plant, the company said.In terms of net profit, Samsung BioLogics
July 23, 2018
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China’s anti-dumping probe raises fear among S. Korean steelmakers
The Chinese government is set to launch an anti-dumping probe into imported steel products from countries including South Korea, raising concern among local steel companies struggling against rising protectionist measures.China’s Commerce Ministry said via its website Monday that it would look into stainless steel billet and hot-rolled stainless steel plates from South Korea, Japan, the European Union and Indonesia. The probe has been launched at the request of a Chinese steel company, the minis
July 23, 2018
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##[Advertorial] Eximbank funds $70m for Jeju Air’s plane purchase
[Advertorial] Eximbank funds $70m for Jeju Air’s plane purchaseThe Export-Import Bank of Korea (Eximbank) said Monday that it is providing funds of $70 million to low-cost carrier Jeju Air to help purchase two Boeing B737-800 planes. The planes are the first to be purchased by the budget airline. They are of the same model as the airline’s existing planes following the company’s single-type-plane policy to maintain low-cost services. The country’s biggest budget airline by sales currently operat
July 23, 2018
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Customs office seeks arrest warrant for Korean Air heiress
A regional customs office on Monday sought an arrest warrant for a former vice president of Korean Air Lines Co. over smuggling and tax evasion allegations, sources said.Cho Hyun-ah, the eldest daughter of Hanjin Group Chairman Cho Yang-ho, is suspected of bringing personal goods purchased overseas into the country without paying taxes. She allegedly had them delivered to her via Korean Air planes. Cho gained notoriety for her nut rage tantrum that delayed a flight in 2014. Cho Hyun-ah (Yonhap)T
July 23, 2018
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Tribunal upholds tax office’s taxation of Philip Morris Korea
A protracted tax conflict is likely to run on between tax authorities here and Philip Morris Korea, the local unit of the global tobacco company, as the Tax Tribunal has dismissed an appeal filed by the company and the latter is set to file an administrative lawsuit.Some 210 billion won ($186 million) in tax -- national and local taxes combined -- is to be at stake, depending on the results of the upcoming litigations on whether the top tobacco maker dodged taxes by manipulating its inventory re
July 23, 2018
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Qualcomm refutes FTC’s claims in first trial on W1tr penalty
Legal representatives of Qualcomm on Monday refuted the Korean antitrust watchdog’s claim that it had an “unfair business model” during the first hearing to take place since the chipmaker filed an appeal to the Seoul High Court in February 2017 against over 1 trillion won ($885 million) in penalties.In December 2016, the FTC found Qualcomm guilty of monopolistic practices, imposing penalties and ordering the company to carry out renegotiations with its clients over patent use. One of the key poi
July 23, 2018
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BAT Korea launches new HNB tobacco Glo Series 2
BAT Korea unveiled Monday its upgraded heat-not-burn tobacco heating device Glo Series 2 and flavor-intense HNB tobacco stick Neo, designed exclusively for the Glo device.Models pose with BAT Korea’s latest heat-not-burn tobacco device Glo Series 2 during a press conference in Seoul on Monday. (BAT Korea)BAT Korea showcased Glo Series 2 for the first time globally during a press conference in Seoul. “Korea has always been a very important market for BAT. The size of our operation here and invest
July 23, 2018
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Pernod Ricard Korea under fire for violating business suspension
The local unit of France-based Pernod Ricard, known for its Ballentine’s and Imperial whisky brands, came under fire Monday for doing business during its three-day suspension of operations.Pernod Ricard Korea's Imperial whiskey (Yonhap)The company had been slapped with the business suspension after a 8-millimeter piece of broken glass was discovered in one of its signature Imperial whiskey bottles, which was imported and sold here in March, according to the Ministry of Food and Drug Safety.Based
July 23, 2018
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Incheon Airport eyes overseas projects for profits
Incheon International Airport Corp. said Sunday it is aiming to win new terminal and airport projects in global markets in diversified efforts to boost profits. Incheon Airport is looking to the upcoming terminal and airport projects in the Middle East and emerging markets, such as Istanbul, Saudi Arabia, Eastern Europe and Central Asia, the country's biggest airport operator said in a statement. The No. 2 terminal at Incheon International Airport (Yonhap)"Incheon Airport has an expertise in ope
July 22, 2018
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Asiana offers extra mileage compensation over meal fiasco
Asiana Airlines, South Korea’s No. 2 air carrier, said that it will further compensate passengers who suffered from the recent in-flight meal service disruptions and the consequent flight schedule delays.The company earlier provided transportation credit vouchers but has additionally decided to offer flight mileage in a gesture of apology and social responsibility, the company said Sunday in a press release.(Asiana Airlines)The special measure is to involve passengers boarding the 100 internatio
July 22, 2018
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Macallan releases Edition No. 4 to celebrate heritage
The Macallan has released a new whisky called Edition No. 4 to celebrate the craftsmanship and pioneering design of the new Macallan Distillery, its importer Edrington Korea said Sunday.Demonstrating the mastery of whisky-making on the estate since 1824, Edition No. 4 explores the whisky production process, according to the firm.Edrington Korea recently held the Macallan Distillery and Edition No. 4 launch event in Cheongdam-dong, Seoul.The limited-edition whisky embodies the diverse story of Th
July 22, 2018
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[Trending in Pairs] Why more brands are turning to influencer marketing
Kim Sang-ji picks up on the latest fashion trends and finds out about new cosmetics by scrolling through posts on Instagram. The 28-year-old says more than half of the people she follows on Instagram are not her friends or acquaintances, but celebrities or social media superstars. “It is just enjoyable to look at their picture-perfect lifestyles on social media. Their photos are glamorous, and the trendy fashion items they introduce are fun to watch,” said Kim, who spends less time flipping thro
July 22, 2018
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Seoul exerts all efforts against US auto tariffs amid weak car sales
South Korea is making all-out efforts to oppose the US slapping high tariffs on imported cars and auto parts, reflecting the growing anxiety of the local auto industry.Top policymakers capitalized on their overseas agendas during the weekend to underline the value of fair trade between Seoul and Washington, as well as negative consequences the tariff hike is to have on the US economy.Deputy Prime Minister and Finance Minister Kim Dong-yeon took the helm and called for the exclusion of Korea from
July 22, 2018
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Number of new Incheon airport terminal users tops 9 m
The number of travelers using the new passenger terminal of Incheon International Airport has surpassed 9 million since its opening six months ago, airport officials said Sunday. As of last Wednesday, more than 9.08 million people used the second terminal, which started operations on Jan. 18, the airport's tally showed. During the six-month period, the number of the airport users also rose to more than 33.44 million, an increase of about 12.6 percent from the same period in the previous year.(Yo
July 22, 2018
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[Newsmaker] YouTube, Facebook dominate Korea’s video ad market: report
YouTube and Facebook grabbed a combined 73.1 percent share of South Korea’s video advertising market in the first half of this year, according to a report by Mezzomedia, a digital marketing firm.Data showed Friday that YouTube garnered 116.9 billion won ($103.2 million) and Facebook 93 billion won from online video advertising between January and June this year. The 73.1 percent share controlled by the two firms marks a 6 percent increase from last year’s 67.5 percent.(Yonhap)Naver, the country’
July 20, 2018
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South Korean duty-free sales fall for three months
Sales of South Korean duty-free stores have fallen for three consecutive months since April, industry data showed, partly due to the Chinese government’s strengthened crackdown on Chinese shuttle traders or “daigongs.”According to the Korea Duty Free Association, combined sales at 48 local duty-free shops came to $1.41 billion (1.6 trillion won) in June, an about 5.17 percent drop from the previous month. (Yonhap)Despite a sharp decrease in the number of foreign tourists following a diplomatic
July 20, 2018
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[Video] Duty-free store offers broadcast zone for influencers
Shinsegae opened its second city center duty-free store in Seoul at Express Bus Terminal in Gangnam on Wednesday.The new five-story shopping space seeks to attract young and rich foreign tourists interested in Korean cosmetics and fashion. Thirty-six percent of the 13,570-square-meter space has been allotted to Korean brands.Inside the store, there is a space called Studio S where social media influencers can use microphones and lights for live broadcasting and filming. On the store’s launch day
July 19, 2018