Most Popular
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Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
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Korean industries gauge impact of Biden's steep tariffs on China
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Controversy brews over shakeup of prosecutors amid probe of first lady
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Do Korean doctors make too much money?
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OpenAI gives ChatGPT new powers to see, hear
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Another suspect behind murder of Korean tourist in Pattaya arrested in Cambodia
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S. Korea to inject $70m into AI-powered public education
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Is FTC's conglomerate listing a boon or bane for Hybe?
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[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
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NewJeans to headline palace show
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Falling fur prices lead to rising demand among younger consumers
Demand for fur products is rising among shoppers from their 20s to 40s, as prices fall to more accessible levels and designs become trendier, sales data showed Monday.According to Shinsegae Department Store, the proportion of fur sales for shoppers between the ages of 20 and 49 has risen every year since 2014. Last year, fur sales to consumers in their 40s marked 29.8 percent, surpassing sales to consumers in their 50s for the first time. The Trendy Fur Fair at Shinsegae Department Store is prom
Oct. 30, 2017
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Nongshim to double ramen supplies to foreign carriers by 2020
Food manufacturer Nongshim is hoping to double the amount of its ramen products it supplies to foreign carriers by 2020, the firm said Monday.“Nongshim will work to provide customized in-flight food for each country, and expand its in-flight offerings beyond Shin Ramyun, taking into account each region’s cultural, religious and market characteristics,” the company said. Nongshim’s Shin Ramyun served in-flight (Nongshim)This year marks the 20th anniversary of Nongshim providing its trademark Shin
Oct. 30, 2017
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iPhone 8 sales off to bumpy start in Korea
Apple’s new iPhone 8 and iPhone 8 Plus have seen weak initial sales in the Korean market since the US tech giant opened preorders on Friday. The new flagship smartphone’s difficult start here is apparently driven by shoppers waiting for the symbolic iPhone X model, the lack of innovation and ongoing problems of battery swelling in several nations. According to local mobile carriers on Monday, the initial sales of the iPhone 8 series are around 60 to 70 percent compared to the iPhone 7. Korean te
Oct. 30, 2017
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Hyundai Steel expo seeks coexistence with SMEs
Hyundai Steel, South Korea‘s second-largest steelmaker by market cap, has “sought coexistence” through a tech expo held Oct. 24-26 to promote local small and medium-sized enterprises in the steel industry. Participants view a component at a tech expo held at the Hyundai Steel Dangjin steel mill on Oct. 24. (Hyundai Steel)The three-day event presented promotion booths of some 60 partnering SMEs at home and abroad. The annual event took place at the Dangjin steel mill owned by the steelmaking arm
Oct. 30, 2017
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Korea expresses interest in Czech nuclear project
The South Korean government expressed its intent Monday to join a bid for the Czech Republic's nuclear project, stressing its advanced reactor design and decadeslong know-how in development and operation. Paik Un-gyu, South Korean minister of trade, industry and energy, met with President of the Czech Republic's Senate Milan Stech to discuss ways to expand cooperation in the nuclear energy and other industrial sectors.Their meeting came as the state-run Korea Hydro & Nuclear Power Co. has been a
Oct. 30, 2017
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CJ Healthcare opens Korea's first hangover cure research center
CJ Healthcare opened a research center that will specifically focus on developing hangover cures, the company said Monday. With the newly opened research center, the pharmaceutical unit of Korea‘s CJ Group aims to invest more resources into the business, the company explained. (CJ Healthcare)CJ Healthcare currently plans to roll out a premium hangover cure product next month while developing new ingredients that can relieve hangover symptoms. CJ Healthcare commercialized the nation’s first hango
Oct. 30, 2017
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South Koreans switch travel destination to Japan in record number
A record number of South Koreans traveled to Japan in the January-September period this year, data showed Monday, as favorable exchange rates and diplomatic tensions with Beijing moved their destination away from China. Over 5.21 million South Koreans visited Japan during the cited months, according to the Japan National Tourism Organization, up 40.3 percent from the same period a year ago. The number is a record for the months and the second highest after Chinese travelers to Japan, whose num
Oct. 30, 2017
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[Graphic News] LG ranks No. 10 on World's Best Employers list
South Korean electronics giant LG Corp. took 10th place on the list of the World’s 500 Best Employers, according to a Forbes report. Google parent company Alphabet, with a workforce of around 72,000 employees, topped the list after its employees credited it with having excellent working conditions, diversity and company image. Microsoft ranked second, followed by Japan Exchange Group, Apple, and US-based oil and gas company Noble Energy. Eighteen Korean companies are also on the list, including
Oct. 29, 2017
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[Advertorial] KT&G expands youth program for startups
South Korea’s tobacco maker KT&G recently launched a camp for young people looking to launch startups, providing them with consultation and education programs as part of the company’s youth support project.KT&G kick-started the “SangSang Startup Camp” on Oct. 16 with 45 participants, selected through a competitive application process, who will undergo 14 weeks of education including coaching from business mentors and introduction of business systems that they can use when starting their own busi
Oct. 29, 2017
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[Ask a Lawyer] Trade measures affecting business in Korea
Ask a Lawyer is a regular column written by attorneys at Yoon & Yang LLC on various legal aspects of the Korean life or business. The content provided here is general legal information, not legal advice on a specific situation. -- Ed.Q: What trade measures are there in Korea that directly affect businesses?Nowadays, domestic industries of many countries actively utilize trade measures, such as antidumping, countervailing and safeguard actions, in order to defeat imports and protect their own int
Oct. 29, 2017
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S-Oil helps celebrate 55 years of Saudi Arabia-South Korea ties
S-Oil joined last week’s events to mark the 55th anniversary of diplomatic ties between South Korea and Saudi Arabia and the direction of further cooperation, with a cultural event on the Han River on Saturday.Sponsored by S-Oil, the Embassy of the Kingdom of Saudi Arabia hosted the event at Chevit under the theme of “As-Salamu Alaikum,” meaning “peace be with you.” The event offered a taste of Saudi cuisine, costumes, henna tattoos, Arabic calligraphy and Arabic carpets, among other things. “Th
Oct. 29, 2017
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Amorepacific’s Sulwhasoo, LG’s Whoo compete for top spot
Amorepacific and LG Household and Health Care are vying for the top spot in the herbal cosmetics segment, market data showed Sunday. According to data collected by the Korea Customs Services, sales of Amorepacific‘s Sulwhasoo and LG Household and Health Care’s the History of Whoo both passed 1 trillion won ($890 million) in the third quarter this year. (Yonhap)While Amorepacific highlights its Sulwhasoo was the first to exceed 1 trillion won in sales, LG underscores sales of Whoo at duty-free s
Oct. 29, 2017
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Samsung teams up with Lucasfilm for Star Wars-themed vacuum cleaners
Samsung Electronics Co. said Sunday it will release vacuum cleaners inspired by characters from "Star Wars" in cooperation with movie producer Lucasfilm Ltd.The South Korean tech giant said the new robot and wireless vacuum cleaners are modeled on characters from the movie series created by George Lucas. (Yonhap)The price tags on the Darth Vader- and Stromtrooper-themed PowerBot robot cleaners stand at 799,000 won and 699,000 won, respectively. The wireless cleaner PowerGun, shaped like a gun fr
Oct. 29, 2017
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Air passenger traffic in S. Korea rises 4.7 pct in September
Air passenger traffic in South Korea rose in September as a rise in demand for routes to Japan, Southeast Asia and Europe offset the steep fall in Chinese travelers, government data showed Sunday. A total of 9.02 million passengers used international and domestic flights last month, up 4.7 percent from a year ago, the Ministry of Land, Infrastructure and Transportation said. An airplane departing from Incheon International Airport to Japan`s Osaka is full of passengers on Sept. 29, 2017, ahead
Oct. 29, 2017
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Sales of packaged kimchi expected to grow 9.6 pct in 2017
Sales of packaged kimchi are expected to grow 9.6 percent in 2017 from a year earlier, on rising demand from single-member households, industry data showed Sunday. According to Daesang Co., a major ready-made kimchi producer, the domestic market for the product is expected to reach 1.39 trillion won ($1.22 billion) this year from 1.27 trillion won posted in 2016. (Yonhap)The demand for kimchi for home use, especially, is expected to jump 25 percent on-year to reach 366.3 billion won, the data sh
Oct. 29, 2017
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[Weekender] Meet change-makers in corporate world
A picture of President Moon Jae-in kneeling to pay his respect to the dead during the May 18 Gwangju Democratization Movement ceremony went viral online this year. It became a talked about issue not just because the ceremony was held a week after the presidential election, but because of a pair of the president’s old shoes that were exposed to cameras. The shoes that Moon has worn since 2012 were made by a small social enterprise set up by the blind and the hearing-impaired. But even with Cheong
Oct. 29, 2017
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Whirlpool may expand safeguard petition to vacuum cleaners: research
New research warned Sunday that Whirlpool Corp. may expand its safeguard petition against South Korean rivals to include vacuum cleaners. Acting on a petition submitted by Whirlpool, the US International Trade Commission determined earlier in October that imports of large residential washing machines built overseas by Samsung Electronics Co. and LG Electronics Inc. were damaging the local industry.A report published by the Korea Electronics Association said Whirlpool may request the US authoriti
Oct. 29, 2017
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[Weekender] Tycoon’s unusual dream
For Chey Tae-won, chairman of SK Group, it all started with one question. For years, the second-generation chaebol scion was seeking a way to inherit his father’s legacy of nurturing scientists and scholars for the nation’s future. Though SK was making social donations and running corporate responsibility programs under his lead, Chey wasn’t sure whether those outreach efforts -- worth billions of dollars a year -- were making any progress in society, where problems of unemployment and the incom
Oct. 27, 2017
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[Weekender] Heyground provides safe community for social ventures
Step into the lobby of Heyground and it‘s like falling through a rabbit hole.The building’s sleek tile floors, stylish neon signs and hoodied entrepreneurs zooming around on electric scooters seem worlds apart from the surrounding industrial sights of Seongsu-dong in eastern Seoul.“We call it the scrap metal view,” joked Jeong Da-hyun, a manager at impact ecosystem builder Root Impact, looking out the floor-to-ceiling window from the seventh floor. “It’s got its own charm.”The Heyground building
Oct. 27, 2017
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SPC Group launches new pizza brand
SPC Group has launched a new fine casual pizza restaurant called Pizza Up, according to the group Friday.Pizza Up is the third fine casual dining line launched by SPC following hamburger chain Shake Shack and salad bar Pig in the Garden.Pizza Up (SPC)The restaurant, located near Hongik University Station, specializes in customized pizzas that diners can put together by choosing from roughly 60 toppings.Huh Jae-young of street lifestyle brand Stereo Vinyls, who worked with SPC to design the inter
Oct. 27, 2017