Most Popular
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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[Weekender] Geeks have never been so chic in Korea
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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US Air Force blames power loss, weather for F-16 crash in S. Korea in May 2023
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Samsung expected to introduce new Exynos processor in next Galaxy series
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Ex-president Moon recalls in memoir NK leader voiced will not to use nukes
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Yoon vows to advance freedom, welfare to uphold spirit of 1980 pro-democracy uprising
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Korean airlines cut emissions by 287,000 tons in H1
South Korean airlines reduced their greenhouse gas emissions by over 280,000 tons in the first half of the year, cutting their use of fuel in the process, which reduced the travel cost for passengers, the government said Wednesday.Under a voluntary agreement, seven South Korean flag carriers, including industry leaders Korean Air Lines Co. and Asiana Airlines Inc., reduced their combined greenhouse gas emissions by 287,000 tons from the business as usual levels in the first six months of the yea
Aug. 31, 2016
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Korea's business sentiment climbs to 4-month high for Sept.
South Korean companies' business sentiment for the upcoming month rose sharply from a month earlier, but a majority of local firms continued to hold a negative outlook due to weak demand at home and abroad, a survey showed Wednesday.The business survey index for September came to 95, the highest level since 102.3 registered in April for the following month, according to the Federation of Korean Industries.The monthly index is based on a survey of 600 largest companies here. A reading below 100 m
Aug. 31, 2016
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Korea's manufacturing sentiment to improve next month
South Korean manufacturers' business sentiment will improve next month as they expect a slight recovery in domestic demand and exports, central bank data showed Wednesday.The business survey index of manufacturing firms here came to 74 for the upcoming month, up from 71 for August, according to the Bank of Korea.A reading above 100 means optimists outnumber pessimists, while a reading below the benchmark means the opposite.An index measuring local firms' sentiment toward exports came to 87 for S
Aug. 31, 2016
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Herald adopts cloud system, eyes digital era
Herald Corp. CEO Lee Young-man (right) poses with Lee Han-joo, CEO of Hostway IDC, Inc. at Herald‘s headquarters in Yongsan, Seoul, Tuesday. Lee Sang-sub/The Korea HeraldHerald Corp. said Tuesday it will adopt a cloud computing system to better serve mobile users. As well as benefiting from stable management of corporate networks and servers, the company plans to use the system to analyze big data and create quality news, it added. “As the cloud system greatly enhances data expandability, we exp
Aug. 30, 2016
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Mirae Asset’s overseas bond fund grows popular
The overseas bond fund managed by Korea’s leading Mirae Asset Financial Group is drawing attention amid the prolonged global economic slowdown, group officials said Tuesday.Mirae Asset’s Global Dynamic Fund is an overseas bond fund that distributes investors’ money to gilt-edged securities from developed and developing countries. Through a globally spread research network, the product makes money from company stocks and mortgage backed securities to high yield bonds and mortgage funds, the compa
Aug. 30, 2016
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[DECODED] Founder’s era continues at Celltrion
Celltrion founder and CEO Seo Jung-jin stepped aside for more professional management of his phenomenally successful bio venture last year, but few in Korea think his era is over.The 59-year-old entrepreneur, who started the pharmaceutical firm in 2002 with 50 million won ($44,400) and very little prior knowledge of drugs, still has a firm grip on the business through personal holdings of company stocks and a team of close confidants among top management. “Celltrion shares are widely dispersed.
Aug. 30, 2016
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Homeplus vows to create fair business environment
Homeplus, a local discount store chain, said Tuesday that it would create an environment for fair trade and improve the quality of products and services to restore its brand value and woo customers.In a show of confidence, the retail company has changed its foundation day from May 1999 to Sept. 4 1997 when it opened its first store in Daegu. Homeplus was established in 1999 by British retail giant Tesco in coordination with Samsung C&T. Homeplus‘ Gangseo branch opened after renovation last Apri
Aug. 30, 2016
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LIG Nex1 to establish cybersecurity research center
LIG Nex1 Co, a South Korean aerospace manufacturer and defense company, plans to establish a joint research center with a top university to develop core technology for cyber warfare, the company said on Tuesday. LIG Nex1 signed an agreement with Korea University on Tuesday to launch the Cyber War Technology Joint Research Center, which will combine the 40-year-old defense company’s technology and experience with Korean University’s research capability. LIG Nex1 CEO Lee Hyo-koo (LIG Nex1)“Cyberat
Aug. 30, 2016
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Hana Financial Investment issues new high-yield RP
Korea’s Hana Financial Investment is seeking to attract new customers and activate idle money by issuing a high-yield repurchase agreement, or RP, the firm said Tuesday. The RP product, which consists of securities with an annual interest rate of 3 percent before tax, is valid until March 30, 2017. The suggested interest rate is higher than the central bank’s 1.25 percent base rate, the company said. A model promotes a repurchase agreement with 3 percent interest rate issued by Hana Financial In
Aug. 30, 2016
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Galleria Department Store celebrates anniversary with discounts
Galleria Department Store celebrates anniversary with discountsHanwha Group’s retail unit Hanwha Galleria is celebrating the 37th anniversary of its first department store opening, providing various promotional events until Oct. 1, the company said.Hanwha Galleria opened its very first Galleria Department Store in September 1979 in Apgujeong, southern Seoul, known as one of country’s most luxurious and affluent neighborhoods.With Wtih the event Family Party underway, customers can receive a 5 pe
Aug. 30, 2016
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Tax agency probes PMI, BAT
Korean tax authorities have begun an intensive special tax investigation into two foreign tobacco manufacturers for evading taxes on cigarettes produced before last year‘s tax hike, but sold after the raise, industry watchers said.For the past few months, the National Tax Service has been looking into the excess profits that Philip Morris International and British American Tobacco gained by selling cigarettes produced before 2015 but sold after the government imposed an excise tax hike that rais
Aug. 30, 2016
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Top court orders retrial for Taekwang Group chief
The nation's top court on Tuesday returned to a lower court a ruling that convicted the chairman of Taekwang Group on charges of embezzlement.Lee Ho-jin was sentenced to 4 1/2 years in prison at the Seoul High Court in December 2012 for a series of corruption charges, including misappropriation of some tens of billions of won through manipulating books on textile sales.He allegedly created slush funds by selling the products without recording them in the books and underreporting the amount of pr
Aug. 30, 2016
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Lotte founder's third wife owns large amount of property
The third wife of the embattled Lotte Group founder owns real estate worth tens of millions of dollars, data showed Tuesday, a revelation that comes as she faces a prosecution probe over suspected tax evasion.Prosecutors are widening their probe into the country's fifth-largest conglomerate on suspicions of embezzlement, tax evasion and the creation of slush funds through dubious deals among affiliates and companies with links to the family of 93-year-old founder Shin Kyuk-ho.According to data b
Aug. 30, 2016
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Sales at department stores, discount retailers up in July
South Korea's major department stores and discount chains saw their sales rise sharply in July from a year earlier on improved consumer sentiment and an increase in holidays, government data showed Tuesday.The combined sales of three department stores -- Hyundai, Lotte and Shinsegae -- advanced 7 percent on-year last month, while those of major discount retailers -- E-Mart, Lotte Mart and Homeplus -- gained 2.1 percent during the same period last year, according to the data compiled by the Minis
Aug. 30, 2016
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Creditors to start sale process for Kumho Tire in Sept.
Creditors of Kumho Tire Co. are poised to begin the sale process for South Korea's second-largest tire maker next month with the aim of picking a prime bidder during the first half of 2017, sources said Tuesday.Kumho Tire graduated from a debt workout program in late 2014, five years after it was placed under creditor oversight because its parent Kumho Asiana Group suffered a severe liquidity crunch from the purchase of Daewoo Engineering and Construction Co. Nine creditors hold a combined 42.1
Aug. 30, 2016
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Global sales of Dongbu Daewoo's localized microwave ovens hit 1.5 mln
Dongbu Daewoo Electronics Corp., a South Korean consumer electronics maker, said Tuesday that global sales of its localized microwave ovens exceeded 1.5 million units over seven years. Since 2009, Dongbu Daewoo has introduced microwave ovens with pre-programmed features that were influenced by local recipes and touch, as part of its efforts to better break into overseas markets. Such microwave ovens included "Chef Mexicano" for Mexico and air fryer ovens for Ayam Goreng for Indonesia. For exampl
Aug. 30, 2016
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Toxin fears ramp up consumer complaints in July: data
Widespread fear about toxic substances being found in drinking water has led to a spike in consumer complaints regarding water purifiers in July, according to data from the Korea Consumer Agency Monday.The agency released numbers from its consumer call centers for July, showing that 2,100 people called in with questions about water purifier rentals, making up approximately 3 percent of all consumer complaints.Over one-fourth of those complaints were concerned with ending rental contracts of prob
Aug. 29, 2016
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Exports of Hallyu-related consumer goods rise 15.2% in H1
Consumer goods related to Korean pop culture were a bright spot in this year’s exports so far, rising 15.2 percent in the first half of 2016, data showed Monday.According to a report from the Korea International Trade Association’s Institute for International Trade, exports of Hallyu-related consumer goods rose for both emerging and advanced markets. (KBS2)The basket of so-called “K-consumer goods” includes food, pharmaceutical, beauty, fashion, lifestyle, and sports products whose exports can
Aug. 29, 2016
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Nexon to target global markets with localized marketing
Korea’s largest game maker Nexon is gearing up with marketing strategies tailored for locals to take on the international mobile game market, the company said Monday. According to the head of Nexon‘s domestic mobile business division Noh Jung-hwan, Nexon will take active measures to expand its presence overseas through “localized marketing,” in line with the release of its new games slated for the second half of this year. Chinese advertisement of Nexon‘s mobile action role-playing game Heroes o
Aug. 29, 2016
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Korean food fair to promote exports
An international trade fair for South Korean food and agricultural products will take place later this week to help local firms go overseas and export their goods, the government said Monday.Some 290 South Korean food and beverages companies will participate in the "Buy Korean Food" fair, which will be held at the aT Center in southern Seoul on Wednesday and Thursday, according to the Ministry of Food, Agriculture and Rural Affairs. (123rf)About 160 foreign buyers from 23 countries, including Ja
Aug. 29, 2016