Most Popular
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[Weekender] Geeks have never been so chic in Korea
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N. Korea says it test-fired tactical ballistic missile with new guidance technology
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NewJeans members submit petitions over court injunction in Hybe-Ador conflict
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[News Focus] Mystery deepens after hundreds of cat deaths in S. Korea
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S. Korea's exports of instant noodles surpass $100m for 1st time in April: data
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[KH Explains] Why Korea's so tough on short selling
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[Herald Interview] Byun Yo-han's 'unlikable' character is result of calculated acting
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Actors involved in past controversies return first via streaming service originals
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US military commander in S. Korea during Gwangju uprising dies
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[Photo News] Seoul seeks 'best sleeper'
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[ECONOMY AT RISK] Hurdles lie ahead for Korea's biotechnology push
The Korea Herald is publishing a series of articles on the alarming state of the country’s economy and the challenges to be addressed. This is the fifth installment. -- Ed.Faced with the continued slowdown of its manufacturing sector, South Korea is eyeing new growth in the field of biotechnology, a promising industry expected for a sharp growth in the years ahead. Biotechnology broadly refers to the use of genetic engineering and molecular biology to modify living cells to produce novel substan
Nov. 13, 2016
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Samsung’s market cap rises to W375tr
Samsung Group’s combined market capitalization has risen to 375.52 trillion won ($322 billion) following the stock market debut of its biotechnology unit, a local financial data provider said Sunday.After Samsung BioLogics’ Kospi entrance on Thursday, Samsung’s 15 listed affiliates accounted for 29.07 percent of the total market cap of all the companies traded on Korea’s main stock exchange, WISEfn said.The figure marks a 1.25 percentage point increase from the group’s 27.82 percent ownership re
Nov. 13, 2016
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Seoul to decide Google's request for map data next week
The South Korean government will make a decision next week whether to allow global giant Google Inc. to export government-supplied map data outside the country, a government official said Sunday.The Ministry of Land, Infrastructure and Transport, which supervises mapping policy, put off a decision on Google's recent request at its latest decision-making panel in August.It will hold a second-round meeting with officials from foreign, defense and other-related ministries next week to make a decisi
Nov. 13, 2016
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Nexon’s Q3 earnings decline due to strong yen
South Korea’s leading game company Nexon said Thursday that its third-quarter operating profit fell 12 percent on-year to 16.3 billion yen ($154.6 million), crediting the decline to a strong yen during the cited period. The company’s revenue also fell 11 percent on-year to 44.3 billion yen, according to its regulatory filing. The figures reflect exchange rates in the July-September period.Nexon, which is listed on the Tokyo Stock Exchange, pointed out that its third-quarter performance took a hi
Nov. 10, 2016
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Sems Games to open first online, offline pop-up toy store
Sems Games said on Nov. 7 that it will open its first pop-up store, called “Playhouse,” in Seoul’s Hongdae area by the end of this year. At Playhouse, customers will be able to experience PLAP, a comprehensive and innovative toy service developed by the company to enable simultaneous offline toy design/assembly and online games via the Playhouse platform, after which the pop-up store was named.Actual-size character figurines and houses designed via the convergence toy platform Playhouse and prin
Nov. 10, 2016
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Samsung BioLogics makes strong market debut after Trump victory
Samsung BioLogics, a contract manufacturer of biologic drugs under the Samsung Group, made a strong stock market debut Thursday, as its shares were buoyed by rosy expectations for the pharmaceutical industry after Donald Trump’s victory in the US presidential election. Shares of Samsung BioLogics opened at 135,000 won ($117.50) apiece on Korea’s main stock market Kospi, slightly lower than their initial public offering price of 136,000 won. After trading began, the shares continued to rally thro
Nov. 10, 2016
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Samsung hesitant on foldable phones
Samsung Electronics is being cautious about the rollout of its foldable smartphone as it closely gauges market demand, according to sources familiar with the matter. “Samsung is already capable of mass producing foldable phones -- although premium models are usually made in small quantities -- by late next year. But, the company is not sure whether there is market demand for the costly, foldable devices,” a source told The Korea Herald on condition of anonymity. “If (the market condition is) con
Nov. 10, 2016
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[Photo News] Ingress competition to take place in Seoul
INGRESS EVENT IN SEOUL -- Niantic, the developer of the smash hit augmented reality mobile game “Pokemon Go” will host a competition for its earlier-launched AR-based game “Ingress” in Jamsil, Seoul from Friday to Sunday. “Ingress” is a multiplayer mobile game utilizing AR technology in which users, belonging to teams, must capture “portals” at places of cultural significance and create virtual triangular “control fields” over geographical areas. The event, titled “Ingress Anomaly Via Seoul Noir
Nov. 10, 2016
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Successful content business propels Kakao's Q3 earnings
Kakao, operator of South Korea’s largest mobile messenger KakaoTalk, said Thursday that its third-quarter operating profit rose 87 percent on-year to 30.3 billion won ($26.4 million), propelled by a strong mobile contents business. The company‘s revenue in the July-September period also surged 70.5 percent on-year to 391.4 billion won. However, net income fell 7.7 percent on-year to 13.62 billion won due to “costs generated by Kakao’s financial activities,” it said.Kakao’s revenue hike was drive
Nov. 10, 2016
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Korean scientist wins stem cell patent in US
South Korean scientist Hwang Woo-suk has won a patent for a stem cell line in the United States, marking the second patent on the related technology, data showed Wednesday.A 15-member research team led by Hwang registered the human embryonic stem cell line, called NT-1, with the US Patent and Trademark Office (USPTO) on Oct. 25. The former Seoul National University (SNU) professor created NT-1 in 2004 and claimed that it was the world's first stem cell batch extracted from cloned human embryos.
Nov. 9, 2016
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Businesspeople of Korea, Japan discuss cooperation in AI, IoT
Business representatives of South Korea and Japan gathered Tuesday to discuss ways to step up cooperation in emerging technology sectors, such as artificial intelligence (AI) and the Internet of Things (IoT). Chairmen of the Korea Chamber of Commerce and Industry (KCCI) and the Japan Chamber of Commerce and Industry (JCCI), as well as 30 other regional chamber chiefs of the two nations, held a meeting in Songdo, west of Seoul. "As the global trade market remains in the doldrums, emerging econom
Nov. 8, 2016
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Samsung to start Galaxy S8 testing in January
[THE INVESTOR] Samsung Electronics is expected to start testing its upcoming Galaxy S8 smartphone in January, while it is still gauging the launch date, multiple suppliers told The Investor on Nov. 8.“Key suppliers are required to provide an initial batch of their parts for the Galaxy S8 from January,” said an official of a parts maker on condition of anonymity.“Full volume supplies will start in February.” Parts makers were mixed about the launch schedule of Samsung’s new flagship phone that is
Nov. 8, 2016
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Samsung runs apology ad over Galaxy Note 7 recall
Samsung Electronics ran an apology ad in major U.S. newspapers on Monday, pledging to thoroughly look into what led to the massive recall of its Galaxy Note 7 smartphone and renewing its commitment to consumer safety."An important tenet of our mission is to offer best-in-class safety and quality. Recently, we fell short on this promise. For this we are truly sorry," Samsung said in the ad that appeared in the Washington Post, the New York Times and the Wall Street Journal in the name of Gregory
Nov. 8, 2016
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Samsung BioLogics, CLIO to go public this week
A number of closely watched initial public offerings will take place in South Korea this week, including that of contract drug manufacturer Samsung BioLogics and cosmetics company CLIO.Samsung BioLogics, the biopharma contract manufacturing arm of Korean tech giant Samsung Group, will be listed on Korea’s main bourse Kospi on Thursday, marking the largest IPO of the year here.A sign is seen at the Samsung BioLogics headquarters in Songdo, Incheon. (Sohn Ji-young/The Korea Herald)On Wednesday, ho
Nov. 7, 2016
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Samsung offers glimpse of AI-powered Galaxy S8
Samsung Electronics’ next flagship smartphone Galaxy S8 will adopt an artificial intelligence platform, which will also be applied into all of its home appliances, the company said Friday. “We will focus on how to provide more pleasure and convenience to users through VIV Labs’ AI solution,” Lee Jae-yong, Samsung Electronics’ vice chairman, said while meeting the chiefs of VIV Labs in the company’s Seocho office building in Seoul on Friday. Lee added that Samsung would strengthen its technology
Nov. 6, 2016
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Samsung to adopt AI feature for Galaxy S8
Samsung Electronics Co., is seeking to adopt a voice-based digital assistant for its next flagship device, the Galaxy S8, an executive said, as the world's largest manufacturer of smartphones is struggling to recover and woo back customers following the Galaxy Note 7 debacle."The Galaxy S8 will be our first platform to be equipped with AI-based voice recognition service," Rhee In-jong, a Samsung Electronics vice president, said during a meeting with reporters on Friday.The executive stressed tha
Nov. 6, 2016
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Samsung recalls washing machines in U.S.
The U.S. consumer protection agency on Friday announced a recall of some Samsung Electronics washing machines for a potential safety problem. The Consumer Product Safety Commission said that 34 models of Samsung top-load washing machines sold since March 2011, totaling 2.8 million units, are subject to the recall because the washing machine top can unexpectedly detach from the washing machine chassis during use.“Samsung has received 733 reports of washing machines experiencing excessive vibratio
Nov. 5, 2016
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Samsung betting on Tizen for home appliances
Samsung Electronics is seeking to take leadership in the home appliance operating system field after a failure to squeeze into the mobile sector, dominated by Google’s Android and Apple’s iOS.In 2012, Samsung unveiled Tizen with the ambition to take share from the mobile OS market and expand its presence in the software market. But the system has just 1 percent of global market share. Only some low-end smartphones sold in India are Tizen-powered. Seeing little chance in the mobile OS sector, the
Nov. 4, 2016
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S. Korea to hold PKO symposium to discuss global cooperation
An international symposium aimed at promoting cooperation in global peacekeeping operations will be held in South Korea next week, the foreign ministry said Friday.The International Partnership for Technology in Peacekeeping Symposium will kick off on Monday for a five-day run, according to the ministry.The symposium marks the third of its kind following gatherings in Italy and Austria in 2014 and 2015, respectively.The Seoul event will be hosted jointly by the foreign and defense ministries her
Nov. 4, 2016
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S. Korea to promote fintech ties with Silicon Valley
South Korea said Friday it will strengthen partnerships with Silicon Valley on financial technology, called fintech.The Fintech Center of Korea signed memorandums of understanding with two high-profile organizations -- 500 Startups and Silicon Valley Forum -- for the initiative on the sidelines of a South Korean Fintech Demo Day event in the tech-savvy US town, according to the Financial Services Commission.500 Startups is a leading global venture capital seed fund and startup accelerator, and S
Nov. 4, 2016