Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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On May Day, labor unions blast Yoon's foreign nanny proposal
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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Samsung tops Latin American smartphone market in Q2: report
Samsung Electronics Co. was the top smartphone vendor in Latin America in the second quarter, a report showed Thursday, although its market share dropped from a year earlier. Samsung represented 37.3 percent of smartphone shipments in Latin America in the April-June period, defending its leading status, according to market tracker Counterpoint Research. However, its second-quarter market share was down from 42.5 percent a year ago. "Samsung was the most affected due to the constraints rel
Aug. 19, 2021
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Samsung Heavy gets approval for basic design of ammonia-propelled ships
Samsung Heavy Industries Co. said Thursday that it has won approval in principle (AIP) for its basic design for LNG or diesel-powered oil tankers that can be revamped into ammonia-fueled ones from DNV, a Norwegian ship quality assurance and risk management company. The shipbuilder's basic design will be helpful for shippers that want to transform their LNG or diesel-powered oil tankers into ammonia-fueled ones, Samsung Heavy said. AIP for the VLCCs means a certification agency has reviewed its
Aug. 19, 2021
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LG successfully demos 6G data transmission using terahertz spectrum
LG Electronics Inc. on Thursday said it has successfully demonstrated 6G data transmission using the terahertz spectrum as the South Korean tech giant tries to move ahead in the next-generation communication technology. LG succeeded in sending 6G terahertz wireless communication signals 100 meters in an outdoor environment in collaboration with Fraunhofer-Gesellschaft, Europe's leading application-oriented research organization, in Berlin last week. LG said it developed a new power amplifier w
Aug. 19, 2021
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Genesis unveils design of GV60 electric SUV
Genesis, the independent luxury brand of Hyundai Motor Co., on Thursday unveiled the design of its first all-electric GV60 ahead of its launch later this year. The GV60 is Genesis' first-ever EV based on the same electric-global modular platform (E-GMP) as the Hyundai IONIQ 5 and Kia EV6, and the luxury brand's third SUV following GV80 and GV70. It employs the brand's "Athletic Elegance" design language throughout, which includes signature quad light fixtures up front, matching taill
Aug. 19, 2021
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Seoul stocks open lower on US tapering talks
South Korean stocks opened lower Thursday as investor sentiment weakened over the US Federal Reserve minutes that hinted at the possibility of an earlier-than-expected tapering timeline. The benchmark Korea Composite Stock Price Index (Kospi) fell 11.18 points, or 0.35 percent, to 3,147.75 points in the first 15 minutes of trading. Stocks got off to a lackluster start, tracking the overnight Wall Street stock plunge. The Dow Jones Industrial Average lost 1.08 percent as Federal Reserve minute
Aug. 19, 2021
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[Graphic News] Hyundai beats Toyota to top FCEV market in H1
South Korean automaker Hyundai Motor beat its Japanese rival Toyota to become the world’s largest fuel cell electric vehicle maker in the first half of the year with the release of a face-lifted model, industry data showed. Hyundai Motor, the maker of the NEXO SUV, sold about 4,700 units in the January-June period, up 62.7 percent from a year earlier, according to the data from SNE Research. Toyota’s fuel cell electric vehicle sales skyrocketed 735.1 percent on-year to 3,700
Aug. 19, 2021
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Complaints against financial firms decline 7% in H1
The number of consumer complaints against financial firms fell 7 percent on year in the first-half of this year, official data showed Thursday. The Financial Supervisory Service (FSS) said it received a total of 42,725 consumer complaints in the January-June period, compared with 45,922 complaints for the same period in 2020. The decline was mainly due to the base effect of last year, when financial complaints grew over the COVID-19 pandemic, the FSS said. Deceptive sales of investment produc
Aug. 19, 2021
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Nominee for financial regulator hints at tougher measures to curb household debt
South Korea plans to unveil additional measures to curb a sustained increase in household debt, if needed, by mobilizing all available policy means, the nominee for the financial regulator has said. Koh Seung-beom, the nominee for the Financial Service Commission, told officials Tuesday that he will "swiftly" push for "strong" measures to tackle household debt if his nomination is confirmed by parliament, according to the FSC. "It is very urgent to get rid of macroecon
Aug. 18, 2021
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Korean child wins Grand Prize at Toyota art contest
Children from South Korea, the Canary Islands and China won Japanese automaker Toyota’s 14th Dream Car Art Contest. Lee Jae-yul, a 7-year-old from South Korea, won the award with a piece titled “Pollution Purifying Car.” The work depicts a time-traveling car that “travels to the past” and “absorbs the polluted air, turning it into fresh air for the future,” the company said. Se Eun Hong and Heng wei Xu from the Canary Islands and China, respectively,
Aug. 18, 2021
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South Korean retail stock investors ‘at risk’ from foreign selling spree
The routine of South Korean retail investors picking up massively offloaded shares by foreigners has continued since last week, but experts have been raising concerns over growing risks of their buying spree if the market remains bearish for a while. According to the Korea Exchange Wednesday, offshore investors pushed for a selling spree Tuesday for a sixth consecutive session since Aug. 9 on the nation’s main bourse market, dumping a net 7.46 trillion won ($6.38 billion). They offload
Aug. 18, 2021
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BlackRock Real Assets to acquire Korean solar power operator
BlackRock Real Assets said Wednesday it has signed an agreement to acquire an undisclosed amount of equity stake in South Korean solar aggregator and operator Brite Energy Partners. The US-based investment firm aims to inject more than $100 million capital over time to fund the acquisition and construction of solar assets of over 350 megawatts in power generation capacity. All projects developed and acquired by Brite Energy Partners are expected to be fully contracted under 20-year terms with K
Aug. 18, 2021
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Mobile carriers attempt to expand further beyond telecom business
South Korea’s mobile carriers are adjusting their business strategy to expand their non-telecom businesses in a bid to take a share in the growing demand for digital content delivered via both mobile and fixed-line networks. SK Telecom, KT and LG U+ each witnessed an increase in the share of non-telecom business in their total revenue in the April-June period this year, as more people stayed home and spent time watching video on IPTV and mobile platforms. Top executives of the three ma
Aug. 18, 2021
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Hyundai Motor kicks off US car-hailing service for disabled
Hyundai Motor’s two automotive affiliates, Hyundai Motor and Kia, started a car-hailing service for the elderly and the disabled in the United States, as part of its universal mobility project, the automaker said Wednesday. The South Korean automotive group said it has launched the service, dubbed EnableLA in Los Angeles, with wheelchair-compatible vehicles for passengers. Those who want to use the service can hire a car via a mobile app or calling, and a specially trained chauff
Aug. 18, 2021
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Korea Pharma's hyperlipidemia drug potentially effective against COVID-19
South Korean pharmaceutical firm Korea Pharma said Wednesday that the company’s hyperlipidemia drug could potentially be effective against the COVID-19 virus, citing a study result published in international journal Frontiers in Pharmacology. According to the study conducted by Keele University and other institutions, fenofibrate and fenofibric acid, the active metabolite of fenofibrate, reduced the viral infection by up to 70 percent. Fenofibric acid is one of the core ingredients of
Aug. 18, 2021
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Satrec Initiative aims to build world’s highest-resolution optical satellite
Satrec Initiative, a South Korean manufacturer of small- and medium-size observation satellites, will push for the development of an Earth mapping satellite with the world’s highest resolution imaging system, the firm said Wednesday. Named SpaceEye-T, the envisioned aircraft is a 700-kilogram satellite designed to observe the Earth offering imagery with resolution as high as 30 centimeters per pixel, precise enough to verify car models on the ground. The company plans to launch it by
Aug. 18, 2021
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Seoul stocks snap 8-session losing streak ahead of Fed's minutes release
South Korean stocks rose Wednesday, snapping an eight-session losing streak as investors expected the US. Federal minutes would cause little ripples on tapering of stimulus policies. The Korean won rose against the US. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 15.84 points, or 0.5 percent, to close at 3,158.93 points. Trading volume was moderate at about 614 million shares worth some 16.5 trillion won ($14.1 billion), with gainers outnumbering losers 645 to 212.
Aug. 18, 2021
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Full-service carriers enjoy growing cargo demand as low-cost carriers continue to bleed
Full-service carriers like Korean Air and Asiana Airlines continued to deliver profit thanks to their cargo business, drawing a stark contrast with low cost carriers amid a severe drop in international air travel due to the prolonged coronavirus pandemic. Last week, Korean Air reported its fifth consecutive quarterly operating profit. Revenue in the second quarter of this year increased by 16 percent to 1.95 trillion won ($1.73 billion) and operating profit by 31 percent to 196.9 billion won co
Aug. 18, 2021
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Bithumb enjoys robust growth in H1
Bithumb Korea, the operator of a local cryptocurrency exchange, saw a 1,100 percent jump in its net profit, according to a financial statement of Vident, the largest shareholder of the exchange on Wednesday. Bithumb’s revenue in the first half of the year stood at 608.7 billion won ($520.9 million), soaring 507 percent on-year, while its net profit rose a whopping 1,100 percent to 603.3 billion won, the data showed. Kim Sung-kwon, a press officer at Vident, said Bithumb‘s annual
Aug. 18, 2021
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[Newsmaker] BTS producer Pdogg beats chaebol chiefs in pay
In another sign of the rise of the “new rich” in Korea Inc., the producer behind K-pop juggernaut BTS topped the list of highest-paid executives in the first half of this year, beating the country’s far more prominent tycoons running conglomerates like Samsung, Hyundai and LG. According to regulatory filings by listed companies on Wednesday, senior song producer Kang Hyo-won took home the biggest sum during the first six months of this year, receiving a total of 40.07 billi
Aug. 18, 2021
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South Korea’s potential growth on downhill for decades
South Korea’s potential growth rate has declined for decades, reflecting the nation’s aging society, slowing capital accumulation and changing job market, a think tank report showed Wednesday. Asia’s fourth-largest economy’s potential growth rate – gross domestic product per person aged 15 and over – by decade came to an average 2.1 percent in the 2010s, compared with 7.6 percent in the 1980s, according to the Korea Economic Research Institute. The figure has
Aug. 18, 2021