Most Popular
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Jimin of BTS, actor Song Da-eun suspected to be dating, again
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What's next for the government's push in quota hike?
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Woman falls to death from acquaintance's home after exhibiting ‘unexplained' behaviors
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‘Malice should not undermine the system, social order,’ says Hybe's Bang
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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N. Korea fires short-range ballistic missiles toward East Sea: JCS
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[Weekender] Geeks have never been so chic in Korea
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Korean firms target EV charging market in US
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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Human rights commission urges Korea to raise awareness of LGBTQ rights
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Hanjin Shipping submits new self-rescue plan to creditors
Cash-strapped Hanjin Shipping Co., under growing pressure from its creditors to secure more money to tide over a deepening cash shortage, submitted a stronger self-rescue plan, which may include the sales of more assets and a capital infusion by its major shareholders, industry sources said Thursday.But details of the self-rescue scheme were not immediately known.According to the sources, Hanjin Shipping, the country's No. 1 shipping line, initially proposed raising some 400 billion won ($353 mi
Aug. 25, 2016
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Fortune picks CJ Group, as a 'company to watch'
Korean conglomerate CJ Group was chosen as one of this year‘s 7 World-Changing Companies to Watch by US business magazine Fortune, the company said Thursday. The selection comes on the company’s efforts to revive the economy of a small village in Ninh Thuan, Vietnam, which reflects the group’s corporate philosophy of “creating shared value.” The official logo of CJ Group (CJ Group)Since 2013, the group has educated farmers there how to grow red chilis in cooperation with the Korea International
Aug. 25, 2016
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[Photo News] Korea-Chile biz cooperation
Members of the Committee of Economic Cooperation Korea-Chile attend its 21st meeting, organized by the Korea Chamber of Commerce and Industry, in a hotel in Seoul on Thursday. KCCI
Aug. 25, 2016
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T'way Air tops consumer survey among budget carriers
T'way Air Co. has taken the top spot in a customer satisfaction survey for budget carriers, with high scores in facilities and staff service, a consumer watchdog said Thursday. According to the survey conducted by the Korea Consumer Agency on 1,000 consumers, T'way Air garnered the highest score of 3.52 points out of 5, slightly ahead of Air Busan Co. and Jin Air Co. each with 3.49. Eastar Jet and Jeju Air followed with 3.45 and 3.42 points, respectively. T'way Air, a Seoul-based budget carrier,
Aug. 25, 2016
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Hyundai Motor, union reach wage deal
Leaders of unionized workers at Hyundai Motor said Thursday that they will put a tentative wage deal into a vote on Friday, raising hopes for ending labor disputes blamed for disrupting production.The vote is taking place, two days after the two sides reached the deal tentatively.The management and the labor at the nation’s largest carmaker, on Wednesday evening agreed to raise workers’ base monthly pay by 58,000 won ($51) and provide 350 percent of their base monthly salary with 3.5 million won
Aug. 25, 2016
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POSCO E&C to use high manganese steel to reduce inter-floor noise
POSCO Engineering and Construction is putting efforts into tackling inter-floor noise in apartments through an innovative technology, the company said Thursday.Since April, the company has launched a study on improving constructability of baseplate made of high manganese steel that the steel giant POSCO developed for the first time in the world last year. POSCO E&C is the construction arm of POSCO, the world‘s fourth-largest steelmaker. POSCO E&C CEO Han Chan-gun (center) tests the strength of h
Aug. 25, 2016
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Hanwha promotes Korean traditional arts for kids
South Korean conglomerate Hanwha Group held a musical performance for elementary school students last week as part of its arts education project, the company said Thursday. The group invited some 150 students to a hanok village in Gongju, South Chungcheong Province last Wednesday to offer them a chance to learn about Korean traditional music and arts. The event featured a performance by Kim Duk-soo -- a master of “samulnori” or Korean traditional percussion music -- and his troupe, the company s
Aug. 25, 2016
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Booyoung offers scholarships to foreign students
The WooJung Education and Culture Foundation under Booyoung Group offered scholarships worth a total of 400 million won ($357,000) to 100 foreign students studying in Korea, as part of its corporate social responsibility moves, the company said Thursday. The foundation, established by Booyoung Group Chairman Lee Joong-geun in 2008, has provided scholarships to foreign students twice a year since 2010. Booyoung Group Chairman Lee Joong-geun (second from right), who also heads the WooJung Educati
Aug. 25, 2016
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Tobacco spending falls only for low-income smokers
Consumer spending on tobacco has nearly reached former levels as the effect of the tobacco price hike wears off, with only low-income smokers continuing to reduce spending on cigarettes, data showed Thursday.According to numbers from Statistics Korea, the average household of two or more members spent 23,000 won each month on tobacco in the second quarter of this year. This marks a 10.9 percent increase from last year.The data showed a significant difference in cigarette spending between high-in
Aug. 25, 2016
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Concert coming at Lotte World Tower for construction workers
A music concert will be held at Lotte World Tower in Seoul to thank construction workers for their hard work on the tower, according to Lotte Corp. on Thursday.The “Concert Celebrating the Sweat and Passion of Lotte World Tower‘s Small Heroes,” which invited 1,800 people including construction workers, Lotte World Tower employees, Lotte World Mall employees and their families, will be held at the Lotte Concert Hall in the tower on Sept. 21. Construction workers pose on-site at the Lotte World T
Aug. 25, 2016
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Korea's seaport cargo grows 2% on-year in July
Cargo processed at South Korean seaports rose nearly 2 percent in July from a year earlier on a gain in container freight, government data showed Thursday.The volume of cargo handled at the country's seaports came to 124.3 million tons last month, up 1.9 percent from 122.1 million tons tallied in the same month last year, according to the Ministry of Oceans and Fisheries.The July figure marked a turnaround from a 3.7 percent on-year fall in June.The monthly increase was attributed to a rise in c
Aug. 25, 2016
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Bottled water, milk in short supply amid summer heat
Some South Korean producers of bottled water and milk are struggling to meet the rising consumer demand as an unprecedented heat wave has affected the supply chain, industry officials said Thursday.Sales of bottled water have sharply surged this summer as more people drank water to fight the scorching heat that has settled in South Korea since July.E-Mart, the nation's largest discount store chain, said sales of bottled water jumped 14.2 percent on-year between June 1 to Aug 23. GS25, a major co
Aug. 25, 2016
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Exports to Vietnam on steady rise, jumping over 10% in 2016
South Korea's exports to Vietnam have spiked over 10 percent so far this year, making it the world's third-largest importer of South Korean goods, data showed Thursday.In the January-July period, shipments to Vietnam jumped 10.1 percent on-year to $18.02 billion, according to the data from the Korea International Trade Association.The amount marks the world's third-largest, after the $68.52 billion worth of goods shipped to China and the $39.63 billion to the United States over the cited period.
Aug. 25, 2016
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Unionized workers of Hyundai Motor set to vote on wage hike deal
Tens of thousands of unionized workers at South Korea's top automaker Hyundai Motor Co. will decide this week whether to accept a tentative agreement on their wage increase in a vote, union leaders said Thursday, which may decide the fate of the company as well.The vote will be held Friday, two days after company management and union leaders reached the tentative deal.Under the proposed agreement, Hyundai Motor workers will have their base monthly pay raised by 58,000 won ($51.70), and receive 3
Aug. 25, 2016
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Tiremakers stingy with price cuts despite plunging costs
South Korea's three tiremakers have been reluctant to conduct big price cuts despite a recent tumble in the cost of rubber and other raw materials, data showed Thursday.The tire companies -- industry leader Hankook Tire Co., No. 2 Kumho Tire Co. and Nexen Tire Corp. -- reduced their tire prices by 0.9 percent to 2.5 percent in 2015 from the previous year, according to the companies' 2015 business reports. The prices of their tires ranged from 50,000 won ($44.60) to 70,000 won last year.In contra
Aug. 25, 2016
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Government postpones decision on Google’s map info export request
The government has postponed its decision on Google’s request to export map information from Korea to allow further review of the issues, the Transport Ministry announced Wednesday following a meeting of a pan-government review committee.The consideration period before the final decision will be extended another 60 days until Nov. 23. “After in-depth discussions about the effect of exporting map information on national security and the spatial information industry, it was agreed that the final d
Aug. 24, 2016
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[Graphic News] KEPCO suffers deficit from investment business
Korea Electronic Power Corp. has suffered a deficit in its investment business while it has drawn massive business from the power rate hike and the increase in the demand for power, data showed Wednesday. According to the National Assembly and KEPCO, the state-run company’s sales rose by 11.4 percent to 483,655 gigawatt-hour last year over the past five years while the revenue soared by 44.3 percent to 54 trillion won ($48 billion).The power rate, in the meantime, increased by nearly 30 percent
Aug. 24, 2016
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POSCO chief urges local players to boost competitiveness
The chief of POSCO, South Korea's No. 1 steelmaker, said Wednesday that the local steel sector is facing trade tussles and weak demand, urging each steelmaker to step up their efforts to overcome such headwinds.At a forum held in Seoul, Kwon Oh-joon, chairman of POSCO, said the current environment for local steelmakers is "a global steel trade war.""The local steel sector is facing hurdles such as growing protectionism and weak demand (from local companies)," he said."The current situation tells
Aug. 24, 2016
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[Newsmaker] PR legend questioned on lobbying
Working in public relations in South Korea has often been favored by college graduates, particularly among women concerned about the male-centered hierarchy of the corporate world.In such positions, English fluency and well-rounded communication skills are required, as the primary job function is dealing with clients and the press. Over a short period, a few figures have built up the reputation of PR professionals, portraying a general image of them being vibrant, career-seeking women. News Comm
Aug. 24, 2016
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[Photo News] Honorary award for Merck
Michael Grund (right), managing director of Merck Korea, poses with professor Choi Jong-seon, president of the Korean Information Display Society, after receiving an honorary award on behalf of Merck during the International Meeting of Information Displays 2016 on Jejudo on Tuesday. (Merck Korea)
Aug. 24, 2016