Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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Woman gets suspended term for injuring boyfriend with knife
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Transport ministry shares next-generation medium-sized satellite’s recordings of landmarks in Korea
The Ministry of Land, Infrastructure and Transport has unveiled satellite recordings of some of South Korea’s landmarks captured by the country’s next-generation medium-sized satellite, including the Government Complex in Sejong, Seoul Olympic Stadium and the easternmost islets of Dokdo. The satellite, Compact Advanced Satellite 500 or CAS500, was launched from the Baikonur Cosmodome in Kazakhstan on March 22, becoming the country’s first national land observation satellite.
May 10, 2021
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Jeju Beer, first Korean craft brewer to go public
The Jeju Beer Company, based on the southern resort island of Jeju in South Korea, said Monday that it plans to become the first local craft brewer to go public. Its planned market debut on the nation’s tech-heavy Kosdaq this month is set to raise 24.2 billion won ($21.70 million) worth of fresh funds. The homegrown craft brewer seeks to issue some 8.36 million shares in a price band of 2,600-2,900 won, with Daishin Securities as the lead underwriter. “Taking the Kosdaq listing as
May 10, 2021
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Bond issuance jumps in April
Bond issuance in South Korea rose sharply in April from the previous month due mainly to a surge in corporate debt sales, data showed Monday. The value of bonds sold in Asia's fourth-largest economy came to 83 trillion won ($74.1 billion) last month, up 9.3 trillion won from a month earlier, according to the data from the Korea Financial Investment Association. April's jump represents a drastic turnaround from an on-month decline of some 720 billion won in March. Sales of corporate bonds surg
May 10, 2021
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S. Korea to launch W1tr fund for corporate restructuring
South Korea's financial regulator said Monday it will set up another fund of 1 trillion won ($896 million) to help companies seeking to restructure. The fund is aimed at helping companies start their restructuring process as the nation's economy shows signs of emerging from the COVID-19 pandemic, the Financial Services Commission (FSC) said in a statement. State-run banks, including the Korea Development Bank and the Export-Import Bank of Korea, will invest a total of 451 billion won into the
May 10, 2021
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S. Korean economy on modest recovery path despite spiking virus cases: KDI
The South Korean economy is on a modest recovery track despite spiking coronavirus cases as the manufacturing sector has continued to improve on robust exports, a state-run think tank said Monday. The country's exports and facility investment logged accelerated growth amid continued improvement in external demand, according to a monthly economic assessment report by the Korea Development Institute (KDI). "As retail sales, exports, and equipment investment all improved, the manufacturing i
May 10, 2021
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Manufacturers' Q1 domestic supply rebounds for 1st time in 1 year
South Korean manufacturers' domestic supply rose for the first time in a year in the first quarter of 2021 as the country's economy is on a recovery track on robust exports, data showed Monday. The manufacturing domestic supply index stood at 105.6 in the January-March period, up 3.3 percent from a year earlier, according to the data from Statistics Korea. The index, which measures both locally produced goods and imports, serves as a major indicator of domestic demand trends. The quarterly in
May 10, 2021
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Doosan Infracore releases prototype of battery packs for construction equipment
Construction equipment maker Doosan Infracore said Monday that it has rolled out a prototype of battery packs for construction equipment and agriculture machinery. The battery packs comprised of battery modules, battery management systems and cooling systems will enable Doosan Infracore to release 1.7-ton electric excavators by early next year, the company said. Doosan Infracore said it aims to post 500 billion won ($448 million) in sales of its battery packs in 2030. The battery packs could
May 10, 2021
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Henkel Homecare Korea joins Korean Red Cross for ‘Zero Mosquito Campaign’
Henkel Homecare Korea, the manufacturer of the No.1 insecticides for home use brand, Home Keeper & Home Mat, will join together with Korean Red Cross to host ”Zero Mosquito Campaign,“ the company said. The campaign, held until August, aims to prevent mosquito infections for the well-being of the people and will focus on global warming as well as the possibility of more pests and infectious diseases as a consequence, company officials said. The campaign plans to deliver informa
May 10, 2021
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Celltrion begins global supply of COVID-19 antibody treatment
South Korean pharmaceutical giant Celltrion Inc. has begun the global supply of its COVID-19 antibody treatment starting with Pakistan, according to the company's affiliate on Monday. Celltrion Healthcare, which handles Celltrion's overseas business, said it has signed a contract with a Pakistan state-run company to export 100,000 tablets of Rekirona, which is enough for 30,000 people. "Talks are also currently under way to export Rekirona to other countries in Europe and South America, a
May 10, 2021
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Seoul stocks open higher on strong bio, chemical shares
South Korean stocks opened higher Monday on strong advances by bio and chemical shares. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.87 points, or 0.75 percent, to 3,221.07 points in the first 15 minutes of trading. The KOSPI got off to a solid start after increasing in the past three sessions. Investor sentiment remained high despite increased valuation pressure as disappointing US jobs data eased concerns about earlier-than-expected inflation. Top cap Samsung Electronics
May 10, 2021
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SK IE Technology set to debut on stock market this week
SK IE Technology Co. (SKIET), a battery materials subsidiary of refinery and battery firm SK Innovation Co., is slated to debut on South Korea's main stock market Tuesday, with its post-debut price movement a focal point. Mirroring huge investor interest, SKIET drew a record 80.9 trillion won ($72.2 billion) in deposits from retail investors during the two-day subscription period that ended on April 29. The amount surpassed the previous record set by SK Bioscience Co., which drew 63.6 trillion
May 10, 2021
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Regulator set to take actions against shippers over alleged price fixing
South Korea's antitrust regulator is reviewing punitive actions against the country's leading shipper, HMM Co., and other local shipping lines over suspected price fixing, industry sources said Monday. The Korea Fair Trade Commission (KFTC) informed them that it has completed its probe into allegations that HMM and others colluded to fix higher freight rates for a Southeast Asian sea route, according to the sources. Since December 2018, the KFTC has been investigating the suspected price fixin
May 10, 2021
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Turnover of KOSDAQ market tumbles on resumed short selling
South Korea's minor bourse saw its turnover recently plunge below the 10 trillion-won ($8.98 billion) mark following a partial resumption of short selling, data showed Monday. The daily turnover of the tech-heavy KOSDAQ market averaged about 8.8 trillion won over the last five sessions, far lower than the April figure of the 12 trillion-won range, according to the data from the Korea Exchange. The daily turnover began to dwindle on April 30, one day before the country's financial regulator all
May 10, 2021
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[#WeFACE] ‘Look through investors’ lens to understand ESG’: SK hynix official
The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed. To truly embrace the ESG trends in business management, it is important to look at things from an investor’s point of view, says Lee Bang-sil, vice president of South Ko
May 9, 2021
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Seoul fine-tuning K-chip support measures
With government measures to help cement South Korea’s leadership in the global semiconductor market to be announced this week, industry watchers are paying keen attention to how much Samsung Electronics and SK hynix could benefit from the measures that would largely pivot on tax breaks. As early as Thursday, Seoul is expected to unveil what it calls the “K-Semiconductor Belt Strategy,” which could include drastic increases in tax benefits for chipmakers’ R&D projec
May 9, 2021
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[Behind the Wheel] Mercedes-Benz S-Class returns with smart technology twist
The so-called “boss car” Mercedes-Benz S-Class has returned in seven years with a complete makeover, boasting what a luxury saloon can offer for a car ride. Since the launch of its previous model in 2013, the S-Class has maintained its reputation as a prestigious sedan and often the choice of business entrepreneurs for its luxurious image. The car also appeals to older drivers, not only for the high price range, but also for its classic design that has remained unchanged for sev
May 9, 2021
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Korean companies’ exposure to digital assets grow
A growing number of South Korean companies are exposing themselves to cryptocurrencies, financial reports filed last year showed, as experts expect the trend to continue and gain traction. At least 23 companies reported they were holding various types of cryptocurrencies as intangible assets as of the end of last year, according to financial reports filed with the Financial Supervisory Service, the country’s financial regulator. Those with the most cryptocurrency was Dunamu, the operator
May 9, 2021
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Coway bags Red Dot, iF design awards for innovative home appliances
Coway, a South Korean home appliance maker and rental service provider, has received honors at two highly coveted product design awards -- the Red Dot and the iF, the company said Sunday. This is the 15th consecutive year that the firm has been recognized at the Red Dot Design Award, and the 13th year at the iF Design Award. The Coway air purifier AP-2021A, AP-1720H, and water purifier P-3100R were awarded Red Dot awards in the product design category. Air purifier AP-2021A also won the est
May 9, 2021
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Malaysia removes anti-dumping tariffs on Korean PET
The Malaysian government has decided to reverse its preliminary decision to impose anti-dumping tariffs on Korean polyethylene terephthalate products, according to industry officials on Sunday. After an investigation, Malaysia’s Ministry of International Trade and Industry recently concluded that PET products imported from Korea will not damage the country’s oil and chemical industries, and decided to lift the temporary anti-dumping tariffs, according to industry sources here. Acc
May 9, 2021
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Citibank Korea seeking potential buyer for its retail biz
Citibank Korea, the South Korean unit of Citigroup, has started to look for buyers for the lender’s consumer banking operations, industry sources said Sunday. The Korean subsidiary recently conveyed its willingness to receive letters of investment intent to a number of potential buyers interested in the lender’s retail banking unit, through its merger and acquisition division as well as Citigroup Global Markets Korea Securities -- the US banking giant’s local subsidiary in cha
May 9, 2021