Most Popular
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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'Queen of Tears' riding high on Netflix chart
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With Indonesia unable to pay full share, what’s next for KF-21 fighter project?
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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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Local filmmakers criticize ‘The Roundup: Punishment’ monopoly of screens
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Police seek arrest warrant for med student who killed girlfriend
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[Grace Kao, Meera Choi] Has money displaced romance on dates?
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‘Children Lunch Set’ illustration display at expo accused of child porn
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Govt. to improve regulations for commercial adoption of self-driving cars
The government unveiled a revised road map on improving regulations for self-driving cars Thursday to hasten their commercial adoption starting next year. The road map, confirmed at an interagency government meeting earlier in the day, came as South Korea is expected to see a fast adoption of autonomous driving for commercial vehicles beginning in 2022, starting with the launch of Level 3 self-driving cars -- made for conditional driving automation that requires human intervention. The governm
Dec. 23, 2021
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Huawei looks to empower low-carbon ICT
Huawei Technologies‘ low-carbon projects across the world and its climate-related track record are now in the spotlight, amid growing regulatory hurdles and customer demand regarding green technologies in South Korea. Introducing its technologies to promote clean energy at a recent press conference held in Seoul, Karl Song, vice president of Huawei’s corporate communications department, said the company is ready to play a role in empowering its Korean partners‘ pursuit of low-
Dec. 23, 2021
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BOK to end corporate bond-buying program as scheduled amid stabilizing market
South Korea's central bank said Thursday it will end a special program to buy corporate bonds, including low-rated debts, at the end of this month as planned as the financial market has stabilized. The Bank of Korea (BOK) and the state-run Korea Development Bank (KDB) launched a 10 trillion-won ($8.4 billion) program in July last year to purchase corporate bonds and commercial paper, a move aimed at easing a corporate funding squeeze. The program has been extended twice and is set to end on Dec
Dec. 23, 2021
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BOK able to borrow short-term dollar funding from Fed by using Treasury holdings
South Korea will be able to borrow up to $60 billion from the US Federal Reserve's "repo facility," designed to help countries secure overnight dollar funding by using their holdings of US Treasury securities, the central bank said Thursday. The deal reached with the Federal Reserve on Tuesday (US time) will allow the Bank of Korea (BOK) to exchange its US Treasury holdings for dollars through the Foreign and International Monetary Authorities (FIMA) Repo Facility at an interest rate
Dec. 23, 2021
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Corporate earnings hit 6-year low in 2020 amid pandemic
South Korean firms' earnings plunged to a six-year low in 2020 in the wake of the coronavirus pandemic, government data showed Thursday. The combined pretax net profit of 13,429 companies came to 97.7 trillion won ($82 billion) in 2020, down 3.9 percent from the prior year and marking the third straight year of decline, according to the data compiled by Statistics Korea. It was the lowest level since the 91.4 trillion won recorded in 2014 and represented the first time for their total bottom l
Dec. 23, 2021
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S. Korea begins trial run of hydrogen heavy duty trucks
A trial run of hydrogen-powered heavy duty trucks kicked off Thursday as part of South Korea's broader efforts for a shift to eco-friendly vehicles in line with the carbon emission cut initiative. Five 11-ton fuel cell trucks, including Hyundai Motor Co's Xcient, will run on roads in the Seoul metropolitan area and the southern region for the next 12 months, the Ministry of Land, Infrastructure and Transport said in a release. Two logistics companies -- CJ Logistics Corp., Hyundai Glovis Co. -
Dec. 23, 2021
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Housing prices, debt are major risks to financial stability: BOK
South Korea's financial system has remained stable, but a rise in housing prices and high household debt serve as major potential risks to financial stability, a central bank report showed Thursday. In a biannual report on financial stability, the Bank of Korea (BOK) called for policy efforts to stabilize the housing market and curb the growth of household debt, raising the need to ease the high level of financial imbalances. "Since the first half of this year, the country's financial sy
Dec. 23, 2021
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Seoul stocks open slightly higher on auto, chemical gains
South Korean stocks opened slightly higher Thursday, led by advances of auto and chemical heavyweights. The benchmark Korea Composite Stock Price Index (Kospi) edged up 2.58 points, or 0.09 percent, to trade at 2,987.06 points in the first 15 minutes of trading. Top carmaker Hyundai Motor moved up 1.58 percent and its smaller affiliate Kia added 0.36 percent. Chemical giant LG Chem advanced 0.8 percent, and steelmaker Posco climbed 0.71 percent. Market bellwether Samsung Electronics traded fl
Dec. 23, 2021
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Hyundai Motor takes robotics tech to center stage at CES
Hyundai Motor Group will present what robotics technology will bring to human life in the future at the upcoming Consumer Electronics Show 2022, in line with its vision of pushing mobility beyond the limits of physical movement, time and space, the automaker said Thursday. Transforming itself from a transportation maker to a smart mobility service provider, Hyundai Motor said the key message of its presentation will include the company’s purpose and direction of expanding robotics techno
Dec. 23, 2021
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Main stock market's turnover hits 19-month low in Dec.
Turnover of South Korea's main bourse plumbed a 19-month low in December as retail investors flee stocks for higher returns, data showed Thursday. The average daily turnover of the KOSPI market stood at slightly over 10 trillion won ($8.39 billion) for 16 trading sessions till Wednesday, according to the data from the Korea Stock Exchange. It was the lowest tally since May 2020, when the daily turnover came to 9.9 trillion won. The figure was also down 15 percent from November and nearly half
Dec. 23, 2021
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Bristling over virus restrictions, small businesses stage protest
Hundreds of small business owners took to the streets in Seoul on Wednesday to express their pent-up anger over the government‘s retightening of COVID-19 protocols nationwide. Chants of “Stop politically-motivated quarantine measures that kill all business owners” resounded throughout Gwanghwamun Plaza in central Seoul, as the large group of protesters demanded an immediate lift of gathering bans and operation hour limits. “The more than three-month long level four so
Dec. 22, 2021
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Will Oppo’s foldable challenge Samsung’s Galaxy Z Fold?
Chinese smartphone brand Oppo’s Find N, the first flagship foldable phone unveiled the previous week, suggests how premium electronic gadget fans have been thirsty for a seamless end-user experience. With Find N, Oppo is looking to prove that consumers can find a foldable phone attractive with creaseless inner screens. But it is unlikely that Oppo’s release would directly challenge Samsung’s leadership in the market, especially since it already has a similar foldable phone, th
Dec. 22, 2021
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China finally greenlights SK hynix’s buyout of Intel NAND biz
Chinese authorities have finally approved SK hynix’s acquisition of Intel’s NAND and SSD business, the company said Wednesday. Though SK hynix and Intel signed the $9 billion deal in October last year, it has been waiting for approval from China for more than a year due to tensions with the US. In the chip industry, to prevent one company from dominating the market, mergers and acquisitions require antitrust approval from the US, the European Union, South Korea, Taiwan, Brazil, t
Dec. 22, 2021
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Don’t throw away Glo devices, return them, says BAT Rothmans
BAT Rothmans, the Korean business arm of British American Tobacco, is ramping up its recycling campaign in Korea to encourage people not to throw away used Glo devices, the company said Wednesday. The Seoul office of the London-based tobacco company said it has installed return bins for Glo tobacco heating devices at 50 convenience stores in cities nationwide with heavy foot traffic, with more to be added in the coming year. Customers can go to either a 7-Eleven, CU or GS25 convenience store
Dec. 22, 2021
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CEO war heats up among big three battery makers
The latest battlefield for the nation’s top three battery makers -- LG Energy Solution, Samsung SDI and SK On -- is their new leaderships. High-profile executives, including a chaebol scion, have stepped in to nurture the battery-making units of LG, Samsung and SK as new growth engines. The Korean trio has seen a surge in battery output capacity this year amid soaring demand for electric vehicles around the world, especially in the all-important US market. Their market share reached
Dec. 22, 2021
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FTC fines SK Inc. and SK Group Chairman W1.6b over SK Siltron case
South Korea’s antitrust watchdog announced Wednesday that it would fine SK Inc. and SK Group Chairman Chey Tae-won 1.6 billion won ($1.3 million) over allegations that his personal purchase in LG Siltron shares back in 2017 had violated the law. The decision was made a week after Chey had attended the Fair Trade Commission’s full-member session in person. Chey’s attendance was rare as the watchdog does not require the person involved to be present. Chey, in the session, claime
Dec. 22, 2021
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Korea, Vietnam agree to enhance ties on trade, development projects
SEJONG -- South Korea and Vietnam agreed to bolster coordination on trade and development projects during a ministerial meeting in Seoul, Wednesday, the Ministry of Trade, Industry and Energy said. At the meeting, Korea’s Minister of Trade, Industry and Energy Moon Sung-wook signed a memorandum of understanding with Vietnam’s Minister of Industry and Trade Nguyen Hong Dien on urea supply. Under the deal, Korea will import up to 120,000 metric tons of urea from Vietnam per annum ov
Dec. 22, 2021
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Seoul stocks up for 2nd session amid tech gains, easing virus scare
South Korean stocks closed up for the second straight session Wednesday, led by chipmaker gains and easing fear about the omicron variant of the new coronavirus. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 9.45 points, or 0.32 percent, to close at 2,984.48 points. Trading volume was moderate at about 453 million shares worth some 8.6 trillion won ($7.2 billion), with gainers outnumbering losers 486 to 357. Foreigners bought a net 30
Dec. 22, 2021
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'Detox' required for computer chips, EV batteries
The world is full of irony. Electric vehicles, which are supposed to be eco-friendly modes of transportation, are mounted with chips and batteries that generate polluting gases in the manufacturing process. To make semiconductors, harmful gases are required, such as CF4, C2F6, SF6 and NF3. These ozone-destroying greenhouse gases take up to 50,000 years to decompose in the atmosphere, and are far more potent than carbon dioxide, which takes 50-200 years to break down. As calls for environmen
Dec. 22, 2021
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Samsung takes ‘personalization of technology’ as key CES theme
Samsung Electronics Vice Chairman and CEO Han Jong-hee said Thursday that the global tech giant will unveil innovative technologies centered on customization, seamlessness and sustainability at the 2022 Consumer Electronics Show. In his editorial posted on Samsung Newsroom, the head of Samsung Electronics’ device experience division underscored that the “one-size-fits-all” strategy can no longer apply in the consumer electronics market as users are seeking more personalized,
Dec. 22, 2021