Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Liberal bloc moves to rewrite student rights ordinance
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Renault's QM6 becomes newest addition to police fleet
Renault Korea said Tuesday it has supplied 67 of its popular sport utility vehicle QM6 to law enforcement, to be used by local detectives and riot police officers. Renault Korea’s QM6 model was recognized by police officials as being fit for police operations for its low noise levels and spacious interior, the automaker explained. QM6 boasts the most spacious back seat among SUVs in the similar range. With the back seats folded, it opens up 2,000 liters of cargo space when including the tr
Oct. 25, 2022
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Seoul shares open higher ahead of major earnings reports
South Korean stocks opened higher Tuesday, as investors await quarterly earnings reports from major companies this week, including tech giant Samsung Electronics Co., amid worries over global inflation and monetary tightening. The benchmark Korea Composite Stock Price Index rose 7.74 points, or 0.35 percent, to 2,243.90 in the first 15 minutes of trading. Top companies are set to release their third-quarter earnings later this week. The results will likely offer investors a clue as to how they a
Oct. 25, 2022
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Inflation expectations inch up in October amid interest rate hikes: Bank of Korea survey
South Korea's inflation expectations edged up on-month in October amid the Bank of Korea's aggressive rate hikes to bring price growth under control, a central bank survey showed Tuesday. Ordinary people expected consumer prices will grow 4.3 percent over the next one year, up 0.1 percentage point from 4.2 percent polled the previous month, according to the poll conducted by the BOK. This represented the first on-month rise in three months. Those polled cited possibly rising public fee
Oct. 25, 2022
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SK Group chief apologizes over data center fire
SK Group Chairman Chey Tae-won on Monday apologized over massive disruptions of online services in South Korea following a fire at a data center run by one of the group's subsidiaries earlier this month. "I would like to deliver an apology to the people," Chey said during an audit at the parliament's Science, ICT, Broadcasting and Communications Committee. "I feel very responsible for the blackout. The entire SK Group is making efforts to deal with the situation."
Oct. 24, 2022
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Uncertainties behind recent liquidity crunch: FSC
A liquidity crunch South Korea is currently facing has to do with multiple factors, mainly led by uncertainties about where the economy is headed amid soaring interest rates and the rapidly depreciating local currency, the country’s top financial policymaker said Monday. “We had prepared the contingencies but the market conditions were worse than what we had expected,” Kim Joo-hyun, chairman of the Financial Services Commission, said at a National Assembly audit. Kim referred t
Oct. 24, 2022
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Kakao founder considers sweeping compensation for service blackout
Kim Beom-su, founder of South Korean online platform behemoth Kakao, said Monday that he will consider providing across-the-board compensation for users who suffered damages due to the company’s unprecedented service malfunction caused by a fire at an SK C&C data center on Oct. 15. "We are currently accepting damage reports from the users, so it is difficult to specifically tell the type and size of our compensation. We are reviewing all measures to help (users) recover,”
Oct. 24, 2022
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Posco Holdings’ Q3 operating profit plunges 71% over typhoon damage, dropped steel price
Posco Holdings said Monday that its third quarter operating profit plunged 71 percent to 920 billion won ($363.9 million), largely due to operation suspension and damages from typhoon that hit the company’s steel plant in Pohang, North Gyeongsang Province, last month, as well as the continuously falling global price of steel. The holding company of the steelmaker Posco said in its regulatory filing that its third quarter net profit dropped sharply to 592 billion won, a 77.2 percent fall on
Oct. 24, 2022
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[Contribution] A new order for transforming our shared oceans
For a long time, the ocean functioned as a set of passageways for ships and a space to catch fish. However, today’s ocean offers us much more. Some may enjoy the sea as a leisure venue for surfing as they ride across the cool waves, and others may think of it as a place with a marine science base that continues to respond to climate change. The sea also serves as a repository for renewable energy, including tidal, wave and wind power. Ninety-nine percent of the world’s internet traff
Oct. 24, 2022
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[Test Drive] The ID.4: a great family EV
It’s no wonder why Volkswagen took a while to introduce its electric vehicle in South Korea. With its all-electric SUV ID.4, the German carmaker offers an accessible EV solution for local customers pursuing an eco-friendly family life. The electrified midsize SUV boasts remarkable spaciousness. It is big enough to accommodate a family as well as equipment for activity lovers. There is enough leg- and headroom in both the front and back seats, and the trunk is capable of storing up to 543 l
Oct. 24, 2022
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Seoul shares snap 3-day losing streak amid eased default risks
South Korean stocks advanced Monday to end their three-day losing streak. with construction and tech companies leading the rally, as the government's 50 trillion-won ($35 billion) liquidity support plan eased worries about growing credit crunch risks. The local currency ended nearly flat against the US dollar. The benchmark Korea Composite Stock Price Index rose 23.04 points, or 1.04 percent, to close at 2,236.16. Trading volume was moderate at 434 million shares worth 6.76 trillion won wit
Oct. 24, 2022
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Chip firms invested 10 times more in China than US: lawmaker
SEJONG -- South Korea’s chipmakers are likely to suffer losses from US sanctions against the Chinese semiconductor industry, as Korea has invested far more in China than the US, an opposition lawmaker said Monday. According to data handed over to Rep. Kim Hoi-jae of the Democratic Party of Korea by the Ministry of Trade, Industry and Energy, Samsung Electronics invested $3.8 billion in the US market between 1997 and 2020. This was equal to just 22.2 percent of the chipmaker’s inves
Oct. 24, 2022
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Hyundai Motor Q3 sales soar 30% on increased global sales
Hyundai Motor on Monday reported 37.7 trillion won ($26.2 billion) in total sales for the third quarter, an increase of 30.6 percent on-year. It was boosted by a significant increase in global sales, which the automaker forecast would expand in the final quarter as the auto parts supply crunch eases. Hyundai Motor sold 1.02 million cars from July to September, according to a regulatory filing. The third quarter is regarded as a low season for the carmaker, as employees take vacations for the sum
Oct. 24, 2022
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Korean Air plane with 162 passengers overruns runway at Cebu Airport
A Korean Air plane overran a runway at the Cebu International Airport in the Philippines while attempting to land in poor weather late Sunday. No injuries were reported. The flight had 162 passengers and 11 crew onboard. Korean Air flight KE631, which had departed from Incheon to Cebu, had attempted to land twice in poor weather, and on the third attempt overran the runway, according to the South Korean air carrier while delivering an apology. “We sincerely apologize to our passengers and
Oct. 24, 2022
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KAIST develops brain-machine interface that controls robotic hands just by thought
Researchers at the Korea Advanced Institute of Science and Technology said Monday they succeeded in developing a brain-machine interface system which interprets brain signals to allow patients to control robot hand movements only by thought. By studying the electrocorticograms of epilepsy patients when they imagine hand movements, research teams led by KAIST’s brain and cognitive engineering professor Jeong Jae-seung and Seoul National University’s Medical School professor Chung Chun
Oct. 24, 2022
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Korean chipmakers suffer decline in market cap, profitability
South Korean chipmaking giants have suffered a decline in their market capitalization and profitability due to heated competition from Chinese rivals and a heavy tax burden, data showed Monday. Of the world's top 100 chipmakers in the world by average market cap from January to September period, only three local players -- Samsung Electronics, SK hynix and SK Square -- were listed, according to the Federation of Korean Industries, a lobby group based in Seoul, citing data from S&P Cap
Oct. 24, 2022
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[Newsmaker] Depression, panic disorder fester in Korea as social stigma persists
Two-hundred and fifty-six. That's the number of people between age 10 and 20 that took their lives due to mental health problems last year. Of a total 13,205 deaths by suicide in 2021, some 5,258 had histories of mental health treatment, according to police data provided by Rep. Oh Young-hwan of the main opposition Democratic Party. The same data shows that the number of suicides aged 10-29 age groups jumped each year from 2019, with the figure for the latter marking 888 as of 2021. The figures
Oct. 24, 2022
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Seoul shares open higher on Fed hopes
South Korean stocks got off to a strong start Monday, as US Federal Reserve officials' remarks raised hopes that the central bank may dial down the pace of interest rate increases. The benchmark Korea Composite Stock Price Index gained 35.60 points, or 1.61 percent, to 2,248.72 in the first 15 minutes of trading. While the market still widely predicts another 0.75 percentage point rate hike by the Fed in December, Mary Daly, president of the San Francisco Federal Reserve Bank, suggested pla
Oct. 24, 2022
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Unionists at HD Hyundai's shipyards begin strike vote
ULSAN -- Unionized workers at HD Hyundai's three shipyard units kicked off a joint strike vote Monday amid little progress in their collective negotiations. Unionists at the three shipbuilders -- Hyundai Heavy Industries Co., Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co. -- are slated to cast votes till Wednesday, according to union officials. It marks the first time that the labor unions of the shipbuilders have held a joint strike vote. The outcome of the vote is due la
Oct. 24, 2022
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Korean Air flight overruns Cebu runway, no injuries reported
Korean Air Lines Co. said Monday its flight KE631 with 173 people on board overran the runway while landing at Cebu International Airport in the Philippines a day earlier but no injuries were reported. Korean Air expressed its "genuine" regret as it always prioritizes safety in all of its operations. "A thorough investigation will be performed together with the local aviation authorities and Korean authorities to determine the cause of this event," Korean Air President Woo Ke
Oct. 24, 2022
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[Graphic News] Electronic payments jump in H1 amid pandemic
The amount of payments made electronically posted two-digit growth in the first half of this year, central bank data showed, as the COVID-19 pandemic prompted more people to engage in contactless commerce. The daily average amount of electronic financial transactions came to 802 billion won ($575 million) in the January-June period, up 13.5 percent from six months earlier, according to the data from the Bank of Korea. The daily average number of electronic financial transactions rose 4.4 p
Oct. 24, 2022