Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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South Korea open to Indonesian proposal to cut KF-21 payments
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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Korea forecast to overtake Taiwan in chip production by 2032: report
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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Why femicide and dating violence are growing issues in S. Korea
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[Herald Interview] CrucialTec taps EV market with eco-friendly painting tech
CrucialTec, once famed for its optical trackpad for BlackBerry, is venturing into the sizzling electric vehicle market, with a no-contact painting technology. Called the “Vacuum Steam Solution (VSS)” transfer technology, the Pangyo-based firm’s new expertise is about painting the surface of electric devices like smartphone cases, home appliances, as well as the interior and exterior materials of automobiles. By applying heat and pressure to ink-coated films in a manner that
Nov. 16, 2021
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Seoul stocks edge down after US-China talks
South Korean stocks inched down Tuesday as investors digest the results of video talks between the presidents of the United States and China. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 2.31 points, or 0.08 percent, to close at 2,997.21 points. Trading volume was moderate at about 567 million shares worth some 10.5 trillion won ($8.9 billion), with losers outnumbering gainers 547 to 304. Foreigners bought a net 241 billion won, wh
Nov. 16, 2021
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[Hydrogen Korea] Korea Gas Corp. aims to lead the hydrogen way
Korea Gas Corp. was born in the aftermath of the global oil crises of the 1970s, with a mission to lead a fuel transition to natural gas. Nearly four decades later, the company is being asked to step up, as South Korea plans another grand energy transition to hydrogen. “In the aftermath of the global oil crisis, Korea decided to switch its national fuel to natural gas and formed Kogas (in 1983). Since then, Kogas led the natural gas transition and experienced every step along the way,&
Nov. 16, 2021
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SK in final talks for investment in US gene therapy firm
SK Inc., the holding company of South Korea's No. 3 conglomerate SK Group, said Tuesday it is in the final talks to invest in a US gene therapy company, in its latest move to expand its foothold in global biopharmaceuticals. SK said it plans to sign a formal deal soon with the Center for Breakthrough Medicines (CBM), a Philadelphia-based contract development manufacturing organization (CDMO), before the end of this year. Details on the terms of the investment were not available. With
Nov. 16, 2021
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DataStreams chief wins global management award
Big data platform company DataStreams said its CEO Lee Young-sang won a global management award from Maekyung Media Group last week. Founded 20 years ago, DataStreams is a leading company in the local big data solutions market and is taking steps to get listed on the Kosdaq. The company also plans to set up corporations in the US, Vietnam and China, and a joint venture with a Vietnamese partner next year to explore the Southeast Asian market. DataStreams has won a number of orders this year i
Nov. 16, 2021
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Mirae Asset Securities named to Dow Jones Sustainability World Index
Mirae Asset Securities said Tuesday it was listed on the Dow Jones Sustainability World Index for the 10th consecutive year, receiving recognition for its commitment to socially responsible investment. As the first global sustainability benchmark, the DJSI World Index selects the top 2,544 listed companies based on their free-float market capitalization. It then evaluates the companies’ environment, social and governance performance and only picks the top 10 percent to be added to the i
Nov. 16, 2021
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Airlines expand international routes amid ‘living with COVID-19’
Airlines are slowly expanding international flights from Korea as the country takes gradual steps to open up and live with the pandemic. Low-cost carrier Jin Air said on Tuesday it will expand the number of flights for the Incheon-Guam route from two to four every week starting Nov. 28. As a gradual return to normal life begins, the airline said it plans to fly once every day by the end of this year. For golf tourists, Jin Air also said it will launch a non-scheduled flight to the city of Kot
Nov. 16, 2021
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KRX sends warning on speculative transactions as NFT frenzy shakes up market
The Korea Exchange, the sole stock market operator of Korea, placed gaming company NCSoft under an investment caution on Tuesday, a day after an unnamed individual investor was disclosed to have sold 530,000 shares, or a 2.4 percent stake, in the company. The news came as a surprise to market watchers, as the same day trader was seen buying over 703,000 shares and sold 211,000 shares on Thursday -- when NCSoft shares hit the price ceiling at 786,000 won ($666.50) apiece from the previous closi
Nov. 16, 2021
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Skepticism grows over presidential hopefuls’ real estate tax pledges
Experts have cast doubt on recent pledges made by major presidential candidates and their parties on overhauling real estate tax rules, with critics raising questions over its feasibility and impact on the property market. Yoon Seok-youl, the presidential nominee of the main opposition People Power Party, on Sunday vowed via Facebook to reexamine the comprehensive real estate holding tax, which is levied on high-value or multiple property owners. The tax is currently levied annually between t
Nov. 16, 2021
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Co-buying: Survival strategy for MZ generation amid real estate bubble
Kang, an office worker in his 20s, recently became a co-owner of a commercial building located in Seoul’s Gangnam district worth 10 billion won ($8.47 million) with a capital of only 5,000 won. “Earlier in December last year, I participated in a joint investment project led by a local fintech firm to buy a building named Yeoksam London Vill, a recently built eight-story commercial property in Gangnam. I invested 5,000 won and received 38 won as dividends in July, acquiring one sha
Nov. 16, 2021
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Biz groups' inter-affiliate trading falls in 2020
Transactions among affiliates of South Korea's large business groups fell in 2020 from a year earlier on tough regulations, the antitrust regulator said Tuesday. The value of inter-affiliate transactions by 2,182 units of 71 large business groups amounted to 183.5 trillion won ($155 billion) last year, down 13.2 trillion won from 196.7 trillion won the previous year, according to the Fair Trade Commission. Such deals accounted for 11.4 percent of all business contracts clinched by them last ye
Nov. 16, 2021
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No. of multiple home owners grows by smallest in 6 years last year
The number of multiple home owners in South Korea grew by the smallest number in six years last year due largely to heavy taxation on such people, data showed Tuesday. The number of multiple home owners had reached 2.32 million as of Nov. 1, 2020, up from 2.28 million the previous year, according to Statistics Korea. The 2020 growth marked the slowest gain since 2014, when the number of such people grew by 28,000. The portion of people who have two or more houses accounted for 15.8 percent of
Nov. 16, 2021
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Residents' FX deposits hit new high in Oct. on hopes of strong dollar
Foreign currency deposits at banks in South Korea surged to a record high in October on expectations for a strong dollar, central bank data showed Tuesday. Residents' outstanding foreign currency-denominated deposits had stood at a fresh record of $100.77 billion as of end-October, up $6.57 billion from the previous month, according to the Bank of Korea (BOK). It marks the first time the country's foreign currency deposits have surpassed the $100 billion level. It also represents the third con
Nov. 16, 2021
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Tobacco association to sue over e-cigarette taxes
The Korea Electronic Cigarette Association said it is planning to file a constitutional lawsuit over the tax rate on liquid e-cigarettes known as “dipping tobacco.” The association argues the tax is 6.6 times higher than the rate applied to conventional cigarettes, despite it being less harmful. Unlike cigarettes, which are taxed per 20 sticks, dipping tobacco is taxed per gram. When converted into 20 pouches of dipping tobacco, which is roughly equivalent to 20 cigarettes, the tax i
Nov. 16, 2021
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Doosan Logistics Solutions to provide logistics robots from local firm
System integrator Doosan Logistics Solutions Co. (DLS) said Tuesday it has signed a deal with a local autonomous mobile robot (AMR) manufacturer KN to provide more logistics robots. "As orders for AMRs have increased in recent months, we have diversified the supply chain of AMRs to meet growing demands for them," the company said in an emailed statement. With the latest deal, DLS will be provided with AMRs by two AMR makers -- Chinese AMR maker Geek+ and KN. In November last year
Nov. 16, 2021
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Hyundai Rotem wins W207.8b railway deal in Taiwan
Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Tuesday it has obtained a 207.8 billion won ($176 million) railway project in Taiwan. Hyundai Rotem formed a consortium with Taiwan's ST Engineering Electronic Ltd. to receive the deal from the Kaohsiung Mass Rapid Transit Bureau, the company said in a statement. Under the deal, Hyundai Rotem will supply electric multiple units, electricity and railway systems in the project to extend the existing Kaohsiung Red L
Nov. 16, 2021
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Tax revenue up W4.1tr in Sept. amid economic recovery
South Korea's tax revenue increased 4.1 trillion won ($3.5 billion) in September from a year earlier amid an economic recovery and a boom in asset markets, the finance ministry said Tuesday. The government collected 26.3 trillion won in taxes in September, compared with 22.2 trillion won a year earlier, according to the Ministry of Economy and Finance. The government said tax revenue has increased so far this year as corporate tax income has risen in line with the economic recovery, while capi
Nov. 16, 2021
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[Graphic News] Number of travel agencies dips 6% in 2 years amid pandemic
The number of travel agencies in South Korea has declined nearly 6 percent over the past two years in the wake of the coronavirus pandemic, industry data showed. There were 21,231 travel agencies in Asia’s fourth-largest economy as of end-September, down 6.1 percent from two years earlier, according to the data from the Korea Tourism Association. The number fell to 21,540 a year earlier from 22,609 in September 2019 and continued to go south this year. The decrease came as pandemic
Nov. 16, 2021
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Vietnam OKs Korean Air-Asiana combination
Korean Air Lines Co. said Tuesday it has received regulatory approval from Vietnam for its integration with smaller local rival Asiana Airlines Inc. Korean Air expects the latest approval to help speed up its process to acquire Asiana Airlines. In January, Korean Air submitted documents to anti-trust regulators of 14 countries for the review of its business combination with Asiana. As of Tuesday, it had received approvals from six countries -- Vietnam, Thailand, Turkey, Taiwan, Malay
Nov. 16, 2021
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Seoul stocks open lower on profit-taking
South Korean stocks opened lower Tuesday as investors attempted to cash in gains from the recent rally. The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.66 points, or 0.16 percent, to 2,994.86 points in the first 15 minutes of trading. The KOSPI got off to a lackluster start amid losses in tech and auto heavyweights. Overnight, the tech-heavy Nasdaq composite and the Dow Jones Industrial Average both retreated 0.04 percent amid lingering inflation concerns. Top cap Samsung E
Nov. 16, 2021