Most Popular
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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Dog gone! KakaoTalk to remove all free character emojis
Kakao Friend emojis will gradually be discontinued on KakaoTalk, South Korea’s No.1 messaging app. The app’s operator Kakao decided to end all free Kakao Friends emoji services, but details of the plan are under consideration, according to local media reports Wednesday. The emojis are 34 non-moving images showing various expressions by the five initial member characters of Kakao Friends -- animal or fruit-based characters licensed by Kakao. The emojis have received broad love from
Jan. 31, 2024
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Seoul shares open weaker ahead of US Fed's rate decision
South Korean stocks opened weaker Wednesday ahead of a key rate decision by the US Federal Reserve this week. The benchmark Korea Composite Stock Price Index slid 6.01 points, or 0.24 percent, to 2,492.80 in the first 15 minutes of trading. Overnight, US stocks closed mixed as Wall Street waited for the Fed's latest decision on interest rates. The Dow Jones Industrial Average inched up 0.35 percent, while the S&P 500 shed 0.06 percent. The Nasdaq composite dropped 0.76 percent. In Seoul
Jan. 31, 2024
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Korean Air shifts to Q4 net loss on operating costs
Korean Air Co., South Korea's national flag carrier, said Tuesday it had shifted to a net loss in the fourth quarter of 2023 from a year earlier due to increased operating costs. Korean Air swung to an estimated net loss of 234.59 billion won ($176 million) in the three months ended on Dec. 31 from a net profit of 353.98 billion won a year earlier, the company said in a statement. Operating profit likely plunged 65 percent to 183.61 billion won in the October-December period from 520.08 bil
Jan. 30, 2024
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Stellantis Korea appoints 1st female chief
Stellantis Korea has named Bang Sil as its new head, the global automaker’s Korean office announced Tuesday. Bang will become the first Korean and female managing director of Stellantis Korea once the appointment takes effect Thursday. The Amsterdam-headquartered automaker established its Korean office in 2021. The new chief has over 20 years of experience in the auto industry, covering areas such as public relations, marketing, sales and networking. She previously served as an executive a
Jan. 30, 2024
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Korean firms should brace for 'Trump risk': KITA
Fears over a future US decoupling from China and protectionist policies are looming large among South Korean companies as former US President Donald Trump emerges as the potential Republican presidential nominee in this year's election. One of the most substantial risks of a possible second term for Trump is his "America-first" policy agenda and the many geopolitical uncertainties rising from it, including the US potentially decoupling from China, according to a report released by
Jan. 30, 2024
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Seoul shares fall on profit-taking ahead of US Fed's rate meeting
South Korean stocks closed lower Tuesday as investors booked profit ahead of the US Federal Reserve's policy meeting later this week. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 1.84 points, or 0.07 percent, to close at 2,498.81, ending its three consecutive session advance. Trade volume was moderate at 476.1 million shares worth 8.63 trillion won ($6.49 billion). Winners, however, outpaced losers 493 to 385. Foreign and retail investors s
Jan. 30, 2024
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Samsung Biologics stocks extend rally on US bill
Samsung Biologics shares extended a rally Tuesday on upbeat sentiment that the company may be benefiting from US-proposed legislation that aims to restrict Chinese biotech firms from accessing the all-important American market. Last week, members of a bipartisan House Select Committee introduced a bill barring contracts with Beijing Genomics Institute and some Chinese biotech companies for their alleged connection with China’s People’s Liberation Army. The proposed bill specifically
Jan. 30, 2024
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US Chamber criticizes Korea's move to pass platform law
The US Chamber of Commerce has openly opposed a proposed act aimed at preventing unfair market activities by major online platform players, voicing concerns over the country’s apparent rush to pass the law. Charles Freeman, senior vice president for Asia at the US Chamber, issued a statement warning Seoul on the push for the rules on Monday and called for transparency and open dialogue with Korea’s antitrust regulator that “an action of this magnitude requires.” "It
Jan. 30, 2024
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[Herald Interview] Daewoong Pet targets health-conscious pet owners
Daewoong Pet, the pet health care arm of Daewoong Pharmaceutical, seeks to gain growth momentum by launching veterinary drugs and securing patent exclusivity as the need for veterinary care continues to surge amid an aging pet population. The firm's main aim is to develop and introduce drugs with the proper dosage and formulation for pets, with a particular focus on senior pets, which increasingly require health care services, Daewoong Pet co-CEO Lee Hyo-jun said. “Many veterinary hos
Jan. 30, 2024
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Samsung Galaxy S24 hits shelves globally
Samsung Electronics said on Tuesday it is starting sales of its latest flagship smartphone the Galaxy S24 globally, largely buoyed by record preorders made at home over the past week. The new phone, dubbed the world’s first smartphone powered by artificial intelligence, is expected to hit the shelves first in key markets, including the US, Britain, Singapore, France, and India, from Wednesday. Ultimately Samsung aims to launch the phone in some 120 countries. “The launch of the Galax
Jan. 30, 2024
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Are Korean drivers losing appetite for EVs?
A recent survey released Tuesday by Encar, the largest used car platform in Korea, has revealed a shift in consumer preferences toward gasoline vehicles for new car purchases in 2024, with them regaining prominence over hybrids and electric vehicles, which were the top choices in 2022. The survey, titled "What's Your Next Car in 2024?" and conducted over a week in mid-January, involved 2,090 participants. 65.3 percent of these car owners plan to sell their current vehicles, primar
Jan. 30, 2024
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Govt. disapproves BlackRock's offshore wind plant project
The South Korean government has disapproved global investment firm BlackRock's proposal to construct an extensive offshore wind power plant in South Jeolla Province due to insufficient evidence of financial ability and lack of electricity infrastructure in the area. According to energy industry sources on Tuesday, the Ministry of Trade, Industry and Energy's electricity committee recently dismissed all five Sinan offshore wind power generation projects proposed by BlackRock's subs
Jan. 30, 2024
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[Photo News] Cry for compensation
Petitions submitted by investors reeling from losses due to Hong Kong-tied derivatives are laid out at the National Assembly in Seoul on Tuesday. A group of investors held a protest, calling for compensation for their losses and accusing banks of misleading them. The principal losses from the financial product are estimated to reach 6 trillion won ($4.5 billion) in the first half of this year. (Yonhap)
Jan. 30, 2024
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LX Pantos, EWP team up to expand solar power production
LX Pantos, the logistics arm of LX Holdings, said Tuesday that it has signed a partnership with Korea East-West Power Corp., an affiliate of the state-run Korea Electric Power Corp., to ramp up production of eco-friendly solar power as part of its efforts to cut emissions. Under the agreement, LX Pantos will provide some 18,000 square meters of roof space at its logistics center in Ansan, Gyeonggi Province, to build the Kepco affiliate’s 2.5-megawatt solar power station. The energy firm
Jan. 30, 2024
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Samsung SDI logs record sales in 2023 on strong EV demand
Samsung SDI said Tuesday it posted an all-time high revenue last year with robust growth in sales of electric vehicle batteries. In its earnings report, the company said annual sales revenue soared 12.8 percent to 22.7 trillion won ($17.1 billion). Its operating profit, on the other hand, dropped 9.7 percent to 1.6 trillion won due to sluggish sales of small batteries and electronics materials. “Although we missed the profit target for last year, the EV battery business has seen 38 percent
Jan. 30, 2024
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IBK to select startups for Silicon Valley accelerator program
The Industrial Bank of Korea on Tuesday said it is recruiting participants for the second “IBK Changgong Silicon Valley Accelerating Program,” which aims to give emerging ventures and startups momentum in the overseas market. IBK has joined hands with 500 Global, an international venture capital firm, to identify innovative startups and to jointly undertake the global accelerating program. The startups chosen to participate in the program will be provided with exclusive opportunities
Jan. 30, 2024
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Goodbye to ‘mayak gimbap’? Mixed reaction to limits on 'drug' marketing
Gwangjang Market, a traditional market in central Seoul, is one of the most popular tourist destinations in the capital, offering a wide range of local foods and snacks. If you google the market, almost nine out of 10 reviews are about a petite-sized gimbap, or seaweed rice roll, with the intriguing name, “mayak gimbap.” "Mayak" means “narcotics” in Korean. Of course, nothing advertised as "mayak gimbap" actually contains any restricted drugs. The name
Jan. 30, 2024
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Seoul shares open higher following Wall Street gains
South Korean stocks got off to a strong start Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 18.70 points, or 0.75 percent, to 2,519.35 in the first 15 minutes of trading. Overnight, US stocks gained ground as investors looked ahead to scheduled earnings announcements by major companies and the Federal Reserve's rate decision meeting later this week. The S&P 500 climbed 0.8 percent to close at a fresh high, while the Dow Jones Indu
Jan. 30, 2024
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S. Korea, US discuss space cooperation
Senior officials from South Korea and the United States discussed cooperation in space exploration as Seoul pushes ahead with the establishment of its independent space agency in May, officials said Monday. First Vice Science Minister Cho Seong-kyung met with Pam Melroy, the deputy administrator of the National Aeronautics and Space Agency, during her visit to the US last week and discussed measures to expand space cooperation between the two countries, according to the Ministry of Science and I
Jan. 29, 2024
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Celltrion seeks FDA approval for Actemra biosimilar
Celltrion has completed its submission of a biologics license application (BLA) to the US Food and Drug Administration for CT-P47, a biosimilar candidate mimicking Roche’s rheumatoid arthritis treatment Actemra (tocilizumab), the company said Monday. The BLA submission was based on results from the global phase 3 clinical trial involving 471 patients. In the clinical trial, the company tested the efficacy, pharmacokinetics, safety, and immunogenicity of CT-P47 compared to the reference pro
Jan. 29, 2024