Most Popular
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Korean industries gauge impact of Biden's steep tariffs on China
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Do Korean doctors make too much money?
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Is FTC's conglomerate listing a boon or bane for Hybe?
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NewJeans to headline palace show
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Coupang's Kim Bom escapes chaebol chief designation again
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
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CIO chief nominee to explain allegations at confirmation hearing
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Yoon vows to run country 'rightly' on Buddha's birthday
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Why Korean crime stories typically feature nameless, faceless perpetrators
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[Bridge to Africa] S. Korea-to-Zimbabwe value chains can foster ‘win-win’ cooperation
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Noon Square holds mega sales event this month
Noon Square, a shopping mall in the heart of Myeong-dong, Seoul’s main shopping district, is holding a holiday sales event this month. Discounts of up to 70 percent are offered at most global brands in the mall, including H&M, which is offering up to 50 percent off various goods until Dec. 13. Foot Locker is presenting discounts of up to 70 percent until Dec. 31 while Charles & Keith, Raum Edition and Waylon Shop are offering 30-50 percent discounts on select items. Meanwhile, Shoespa is handin
Dec. 3, 2015
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Starbucks, Anna Sui launch collaborative goods
Starbucks has joined hands with high fashion and cosmetics brand Anna Sui to launch a special collection of mugs, water bottles, bags and card pouches in South Korea. The collection includes the Anna Sui Rose DW Mug, the Anna Sui Boutique DW Mug, the SS Swell Anna Sui Water Bottle, the Anna Sui Tote Bag and the Anna Sui Card.Starbucks is selling a limited run of 40,000 of its specially prepared set package — composed of a tote bag, a Starbucks gift card and a card pouch — on a first come, first
Dec. 3, 2015
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Shinsegae opens duty-free shop in Incheon airport
Shinsegae officially opened a new duty-free store in Incheon International Airport on Tuesday, offering some 300 brands to those traveling in and out of South Korea. “Shinsegae Duty Free will feature a range of new brands in a new store concept unseen among existing duty-free shops in the country,” said Shinsegae DF president Sung Young-mok.Shinsegae’s new duty-free store at Incheon International Airport (Shinsegae) Established by Shinsegae Group after winning the duty-free operating rights to
Dec. 3, 2015
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More companies turn to make beauty products
More and more businessmen are rushing to cosmetics businesses, which are considered some of the very few cash cows in the stale domestic market. Mostly targeting Chinese and other Southeast Asian consumers who reportedly embrace “Made in Korea” beauty products and beauty regimes, from entertainment agencies to online retail outlets, pharmaceutical firms and even ceramics and tech companies are turning their heads to what they believe is the new El Dorado. According to the Ministry of Food and Dr
Dec. 3, 2015
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Fubon becomes 2nd-largest shareholder of Hyundai Life
Taiwan-based Fubon Life has invested 220 billion won ($189.2 million) for a 48 percent stake in Hyundai Life Insurance, becoming the Korean insurer’s second-largest stakeholder after Hyundai Motor Group, the company announced ThursdayHyundai expects mutual benefits from the alliance, particularly in asset management, product development and risk management, as Fubon has deployed four of its managers to its headquarters.Twenty managers, including top executives shared their business strategies an
Dec. 3, 2015
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Shipbuilders' new orders dip to 6-year low in Nov.
South Korean shipbuilders' new orders in November fell to the lowest level in six years amid woes over their growing losses, while Chinese rivals scooped up a large slice of contracts, industry data showed Thursday. According to the data compiled by global researcher Clarkson Research Services, South Korean shipyards bagged new orders totaling 79,834 compensated gross tons last month, the lowest since September 2009. In contrast, Chinese shipbuilders received 1.46 million CGTs worth of new ord
Dec. 3, 2015
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Court says gov't not liable for Tongyang investors
A local court on Thursday dismissed a damage suit filed against the government by investors who were deceived into buying fraudulent debt products. The Seoul Central District Court dismissed the suit filed by a total of 364 Tongyang investors seeking 1 million won ($920) each in compensation from the Financial Supervisory Service and the government. The plaintiffs claim the agency failed to take proper action despite its knowledge of the dubious nature of debt products sold by Tongyang Securi
Dec. 3, 2015
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Lotte Hotel reassures Japanese shareholders' support for IPO
South Korean retail giant Lotte Group said Thursday its Japanese shareholders support the current leadership despite the ongoing succession feud, in an effort to clear up uncertainties surrounding the preparation for listing its hotel unit. The listing of Hotel Lotte is one of the reform pledges that Lotte Group Chairman Shin Dong-bin has made to assuage public disgust over a bitter family feud over control of the retail-focused conglomerate, which has sprawling businesses both in South Korea
Dec. 3, 2015
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GS E&C wins 760 bln-won LNG terminal order
GS Engineering & Construction Co., a major South Korean construction firm, said Thursday that it has received a 760 billion-won ($651 million) order to build a LNG terminal and other facilities in Bahrain. Under the deal with LNG W.L.L of Bahrain, the South Korean firm will build a floating LNG storage unit, near the Hidd Industrial area, to receive LNG shipments; an adjacent regasification platform; subsea gas pipelines from the platform to shore; and an onshore gas receiving facility. The fa
Dec. 3, 2015
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Futures firms' Q3 net jumps
South Korean futures companies' net profit more than doubled in the third quarter of this year from a year earlier on a rise in brokerage commission income, the financial watchdog said Thursday.The combined earnings of six local futures companies came in at 2.6 billion won ($2.2 million) in the July-September period, compared with a profit of 1 billion won a year ago, according to the Financial Supervisory Service.The strong bottom line came as their fee income from futures dealings jumped 23.5
Dec. 3, 2015
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Small regional jets to take off next year
Fifty-seat regional jets are set to take to the skies here from the first half of 2016, shortening travel times while offering fares on par with bullet train tickets. Korea Express Air employees mark the delivery of the ERJ-145 passenger jet, produced by Brazilian aircraft maker Embraer, at Yangyang International Airport in Gangwon Province. (Yonhap)The country’s low-cost carrier uSKY Air and air taxi firm Korea Express Air are waiting for the government’s approval to begin commercial flight ser
Dec. 2, 2015
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Time to ditch ‘Made in Korea’ goal?
A state-run think tank has proposed shifting the focus of industrial policy to strengthening support for local companies that move production abroad, sparking a debate over whether the current policy of promoting domestic manufacturing is still appropriate.In its report submitted to the government last month, the Korea Development Institute suggested changing the nation’s policy paradigm from “Made in Korea” to “Made by Korea.” Economic policymakers have so far given no consideration to helping
Dec. 2, 2015
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Hanwha Q Cells begins operating Turkey’s largest solar plant
Hanwha Q Cells, the world’s leading solar cell manufacturer, has begun operating a portion of its solar power plant in Turkey which will become the largest of its kind in the country upon completion in 2016. The South Korean solar cell manufacturer said Wednesday it has finished building its first plant -- with a production capacity of 8.3 megawatts of solar energy -- in Burdur, a city in southwestern Turkey.Hanwha is scheduled to complete another plant with a 10 MW capacity by next year, drivin
Dec. 2, 2015
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[Photo News] ExxonMobil, KOGAS to cooperate for LNG business
LNG COOPERATION -- ExxonMobil vice president of gas and power marketing Richard Guerrant (left) and the president and Korea Gas Corp. chief executive Lee Seung-hoon pose after signing a memorandum of understanding to jointly pursue new opportunities in the natural gas value chain at a ceremony held in Seoul on Wednesday. LNG -- a cleaner burner fuel compared to other non-renewable energy sources -- is expected to replace coal as the No. 2 global source of energy, a shift that reflects the versat
Dec. 2, 2015
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[Design Forum] Design changes lives for physically impaired
Swinging-door bathtubs (Chung Joo-won/The Korea Herald)Universal Design Expo was launched Wednesday to display some of the latest technologies and art objects with “universal designs,” or designs that all walks of life including the physically impaired can enjoy. On display from Dec. 2-6, the main exhibition of Seoul Design Week 2015 consists of 11 experience zones, seven “life experience zones” and four “transportation experience zones.” The life experience zones include five experience-yours
Dec. 2, 2015
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SK Telecom sets out new vision with takeover amid criticism
South Korea's No. 1 mobile carrier SK Telecom Co. vowed Wednesday to beef up its efforts to tap deeper into the media industry through the acquisition of the nation's top cable operator, amid rising criticism from its rivals over the deal.In early November, SK Telecom struck a deal to buy CJ Hellovision, the country's biggest operator of cable channels and Internet TV content, and plans to merge the firm with its wholly owned subsidiary SK Broadband Co.The merger needs to win approval from the a
Dec. 2, 2015
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Hanwha Q Cells builds solar plant in Turkey
Hanwha Q Cells Co., the world's leading solar cell maker, said Wednesday it has built a solar plant in Turkey, and plans to expand its capacity there as part of an effort to tap deeper into emerging markets.The South Korean solar cell maker has completed a plant with a capacity of 8.3 megawatts in the province of Burdur. Hanwha Q Cells plans to expand the plant with a capacity of 18.3 MW by 2016, the company said.The plant, when completed, will be Turkey's largest solar plant, according to the c
Dec. 2, 2015
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[Photo News] Kick off Christmas season with carols by Asiana
Asiana Airlines employees pose with Christmas carol album “Christmas Time Again,” produced by the Korean air carrier and supported by Arts Council Korea, at Asiana’s headquarters in western Seoul. Having started Tuesday, Asiana offers five Christmas carol tracks free of charge via its homepage www.flyasiana.com. (Asiana Airlines)
Dec. 1, 2015
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British Airways appoints new commercial manager for Seoul
British Airways has appointed Manuel Alvarez as the new commercial manager for Korea, the company said Tuesday. Alvarez served as commercial manager of Iberia Airlines, the Spanish air carrier under British Airways owner International Airlines Group, for Lebanon and Algeria. He had worked in the sales department of British Airways and IAG since 2011. Manuel Alvarez (British Airways)“Korea is a very important market for British Airways. I am delighted to be serving our customers in one of the mos
Dec. 1, 2015
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[Photo News] POSCO E&C wins $900m power plant deal
Oh Kun-so (third from left), executive vice president of POSCO Engineering & Construction, and other executives form U.S. energy firm AES pose Tuesday after signing a $900 million contract to design and construct a 600-megawatt coal-fired power plant in Manila, the Philippines.(POSCO E&C)
Dec. 1, 2015