Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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[Music in drama] Rekindle a love that slipped through your fingers
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Hyundai Motor workers to go on strike from Wednesday
SEOUL (Yonhap) -- Hyundai Motor Co.'s unionized workers plan to launch a partial strike starting Wednesday after their representatives and the management failed to reach an agreement on a pay raise and other working conditions.The walkout, which will last through Friday, will mark the fourth straight year of labor disputes at the country's No. 1 automaker.The two sides reportedly sparred over the introduction of a so-called wage peak system and the scope of ordinary salaries, which determine ove
Sept. 22, 2015
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KEPCO to host international electric expo in October
The state-run Korea Electric Power Corp., the nation’s largest utility company, said Tuesday it will host the Bitgaram International Exposition of Electric Technology from Oct. 12 to 14 at the Kimdaejung Convention Center in Gwangju.The poster of the Bitgaram International Exposition of Electric Technology from Oct. 12 to 14 at the Kimdaejung Convention Center in Gwangju. KEPCO.“The company designed the large-scale international event as part of its effort to transform Naju and its adjacent are
Sept. 22, 2015
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New Samsung C&T takes No. 4 spot on Seoul bourse
Shares of Samsung C&T Corp., the merged entity of two key Samsung units, posted a modest gain on the first trading day under the new name on Tuesday, taking the fourth spot on the Seoul bourse in terms of market value. Shares of Samsung C&T closed at 163,000 won ($137.40), up 2.84 percent from the previous session's close. The benchmark KOSPI gained 0.32 percent. Its market capitalization stood at 30.9 trillion won, coming after Samsung Electronics Co., Hyundai Motor Co. and Korea Electric Power
Sept. 15, 2015
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New Samsung C&T gets under sail after merger
The merged entity of two key Samsung Group units made its official launch in South Korea on Tuesday, after repelling a slew of legal challenges from a U.S. hedge fund that opposed the merger and garnering shareholder approval.Samsung C&T Corp., the construction arm of the country's top conglomerate, won outright shareholder approval on July 17 to merge with Cheil Industries Inc., the apparel and resort unit, for 8.9 trillion won ($7.52 billion). The company received the go-ahead after two months
Sept. 1, 2015
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Daum Kakao to change its name to Kakao
Daum Kakao Corp., the operator of South Korea's top mobile messenger, KakaoTalk, said Tuesday it will seek to change its company name to Kakao at the upcoming shareholder meeting, as part of a push into solidifying its identity as a mobile platform provider. Daum Kakao is the entity that was formed when leading search engine operator Daum Corp. and Kakao Corp., the creator of the KakaoTalk app, merged in October. (Kakao)The new name will help bolster the corporate brand as a mobile life platfor
Sept. 1, 2015
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Samsung SDI to buy cell material biz from affiliate
Samsung SDI Co., the battery-making arm of South Korea's top conglomerate, Samsung Group, said Friday it will buy the cell material division of its chemical affiliate, in a move to bolster competitiveness in the sector. Samsung SDI will take over the cell material unit of Samsung Fine Chemicals Co. for 18.7 billion won ($15.9 million) on Sept. 16, the company said in a regulatory filing. Samsung SDI will acquire the research and development facility, patent rights, staffs and the 58 percent stak
Aug. 28, 2015
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Lotte pushes to expand footing in India
Lotte, the country's fifth-largest conglomerate, is moving to tap into India as it accelerates its overseas expansion drive in an attempt to make up for feeble growth at home.The retail giant said Friday its chairman, Shin Dong-bin, held a meeting with Indian Prime Minister Narendra Modi, in New Delhi, to propose a plan to build railway shopping complexes in major Indian cities.The two discussed expanding Lotte's Indian investment as well as opening railway shopping complexes in New Delhi, Mumba
Aug. 28, 2015
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Lotte launches governance reform task force
Lotte Group launched a task force on governance reform Wednesday following criticism over its murky ownership structure that was laid bare in a bitter family squabble over control of the retail giant.The task force, which comprises 20 executives as well as outside attorneys and accountants, is charged with mapping out plans to list Hotel Lotte, the group's de facto holding firm in South Korea, and enhance corporate transparency, Lotte said in a press release.Lotte, the country's fifth-largest fa
Aug. 26, 2015
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Hana Financial names new CEO of KEB Hana Bank
Hana Financial Group Inc., South Korea's third-largest banking group, said Monday that it nominated a retail banking expert as the first president of its new integrated bank unit set to be launched next week.The move came after the financial regulator gave its final nod for the integration of Hana Financial's two bank units, Hana Bank and Korea Exchange Bank, last week. The integrated bank, named KEB Hana Bank, is scheduled to set sail on Sept. 1.Ham Young-joo, a vice president of Hana Bank, was
Aug. 24, 2015
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Daum Kakao names new head to speed up mobile business
South Korea's top mobile messenger operator Daum Kakao Corp. said Monday it has named a new single head, ending its co-CEO system that has been maintained since its launch last year after the merger between the two IT firms. Rim Ji-hoon, 35, head of investment firm K Cube Ventures, will become the new CEO of Daum Kakao, the merged entity of South Korea's two most-tracked IT firms at the time, Kakao Corp. and Daum Communications Corp. K Cube Ventures is an investment firm that focuses on startu
Aug. 10, 2015
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E-Land Group to open large shopping mall in China
South Korean retail giant E-Land Group said Monday that it plans to open its first shopping mall in mainland China later this year in a joint venture as part of its strategy to tap deeper into the world's biggest market. E-Land Group and Malaysia-based Parkson Group have agreed to establish a joint venture and open "Parkson-New Core Mall" in Shanghai in November. The South Korean company said it will be in charge of management of the joint venture, with a 51-percent share. Parkson Group is on
Aug. 10, 2015
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Lotte founder taking medication for Alzheimer‘s disease: sources
Lotte founder Shin Kyuk-ho, whose mental and physical health have emerged as the center of focus amid a succession feud between his two sons, was diagnosed with Alzheimer's disease a few years ago, sources said Monday, a key factor which could impact the high-profile family dispute as the two sides are sparring to win favorable shareholders. Sources at Lotte, the country's fifth-largest conglomerate, said that Shin was diagnosed with the condition that is known to incur memory impairment and de
Aug. 10, 2015
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Shin Dong-bin listed as head of Lotte's Japan investment arm
Shin Dong-bin, the chairman of Lotte Group in South Korea, has been registered as the head of an investment unit in Japan that is believed to be at the apex of the conglomerate's complex ownership structure, data showed Thursday.The documents issued by the Japanese justice ministry showed that Shin was registered as the chief executive of 10 subsidiaries of the investment unit, dubbed "L Investment Company," as of July 31.Previously, the investment affiliate was headed by Lotte founder Shin Kyuk
Aug. 6, 2015
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Daum Kakao opens IT center for handicapped in Vietnam
South Korea's top mobile messenger operator Daum Kakao Corp. said Wednesday it has opened an education center in Vietnam to provide information technology courses for the mentally handicapped.The company said the education center in Hanoi aims to narrow the digital divide in the country in cooperation with the Korea International Cooperation Agency."While employers demand handicapped jobseekers have ICT capabilities, the education infrastructure (in Vietnam) is poor," Daum Kakao said, adding it
Aug. 5, 2015
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E-Mart to rev up China business, ends store closures
E-Mart Inc., South Korea's largest discount grocer, said Wednesday it aims to end the restructuring of its Chinese business and focus on improving it, but skeptics remained negative on the company's operations in China.The retail giant, which once operated as many as 27 branches in the country, has been shutting down stores in the past five years, spurring speculation it may even exit from the Chinese market."With the Aug. 3 closure of a branch in Shanghai, there will be no additional shutdowns
Aug. 5, 2015
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Hana Financial set to begin merger process in earnest next week
Hana Financial Group Inc., South Korea's third-largest banking group by assets, is rolling up its sleeves to begin the process of merging its two flagship banks in earnest next week, a company official said Wednesday.Hana Financial has tried to merge Hana Bank and the Korea Exchange Bank since it acquired the KEB from U.S. buyout fund Lone Star in 2012. Its efforts have dragged on for years as the KEB had strongly opposed the merger until recently, citing its earlier promise to remain independen
July 15, 2015
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Samsung most reputable tech firm in U.S.: report
South Korea's Samsung Electronics Co. ranks as the most reputable technology company in the United States, a report showed Sunday, on the back of its strong products and services appealing to American consumers. Samsung, the world's largest smartphone maker, has topped such tech peers as Microsoft, Google and Intel in terms of products and services, citizenship and governance, according to the report by U.S.-based corporate appraiser Reputation Institute. Samsung ranked eighth last year. He
July 5, 2015
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U.S. hedge fund appeals court's refusal to stop Samsung merger
A U.S. hedge fund, opposing a proposed merger of two Samsung Group units, has filed an appeal against a Seoul court's dismissal of its request to block the deal, the latest in a series of legal rows unfolding against South Korea's top conglomerate over the high-profile merger. Nexus, a Seoul-based law firm representing Elliott Associate L.P., submitted a notice of appeal Friday to the Seoul Central District Court, according to the court. The objection came as the hedge fund has been seeking
July 3, 2015
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Samsung wins trademark for 'S6 EDGE+'
Samsung Electronics Co. is presumed to be putting more focus on its latest smartphone, the Galaxy S6 Edge, the variant of the Galaxy S6, documents showed Thursday, as it won a trademark for the "S6 EDGE+" earlier this week. According to the documents posted by the United States Patent and Trademark Office, Samsung Electronics has won the trademark, which indicates that the South Korean tech giant may roll out an updated edition of the quirky flagship smartphone that has drawn keen attention fro
July 2, 2015
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Bakery brand Paris Baguette opens 2nd store in Paris
South Korean confectionery giant Paris Baguette said Wednesday it has opened its second Paris store in the city's Opera district, a move that comes as the company is stepping up its overseas expansion. The opening comes roughly 11 months after it opened its first Paris store in the Chatelet district of the French capital, which is in the vicinity of key tourist attractions, such as Notre Dame Cathedral and Louvre Museum. "We opened our second branch in France at an earlier-than-expected schedu
July 1, 2015