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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Crypto volatility surges on tightening measures, negative news
Volatility in the local cryptocurrency market continued Tuesday, with most digital coins including Bitcoin suffering sellouts as authorities strengthen measures against suspicious trading. The extreme volatility sent Bitcoin’s value from a record high of 82 million won ($73,722) April 13 to 67 million won Tuesday, falling below 70 million won for the first time since April 7. It recovered earlier losses in the afternoon, bouncing back up to reach 69 million won. A market index developed
April 20, 2021
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S-Oil’s total car management platform ‘Eurecar’ assembles partners
S-Oil said Tuesday that the company has signed Kumho Tire as the first partner for its all-in-one car management platform “Eurecar.” Set for release next year, the mobile app will offer a wide spectrum of services from non-face-to-face charging and payment services at S-Oil gas stations, to dialing designated drivers, valet parking and making car wash reservations. “The partnership with Kumho Tire will allow customers to purchase tires on the Eurecar app and replace tires
April 20, 2021
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Multiple-home owners give away flats to family as new tax rules loom
Multiple-home owners in one of Seoul’s most expensive districts have been scrambling to give away their apartments to family members or relatives as gifts before toughened tax rules come into force in June, according to data released by the state-run Korea Appraisal Board on Tuesday. The number of apartment transfers among family members in Gangnam-gu, a southern Seoul district, hit a monthly record high of 812 in March, 6.3 times higher than 129 marked in the previous month, the data
April 20, 2021
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‘Time for Korea to consider telehealth’
The Federation of Korean Industries said Tuesday that South Korea needs to consider reviewing related regulations to open up the gates for local practice of telemedicine-medical diagnosis. FKI Vice Chairman Kwon Tae-shin said now is the time to take deregulatory actions, given the public’s positive perception of telemedicine, formed after experiencing the COVID-19 pandemic. He made the remarks during a seminar held to share information and opinions on telemedicine trends in Seoul, Tue
April 20, 2021
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Yuhan-Kimberly partners with forestry agency, environmental group to create forest
Yuhan-Kimberly has teamed up with the Korea Forest Service and an environmental organization to create a forest dedicated to carbon neutrality, the South Korean hygiene product manufacturer said Tuesday. According to the company, the firm, the state-run Korea Forest Service and Forest for Life agreed to work together to plant trees in Seokpo Forest in Yongin, Gyeonggi Province, to establish what they christened the carbon neutrality forest. On April 8, the company held a signing ceremony a
April 20, 2021
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[Herald Interview] World’s No. 1 Tekken player vows to keep playing until 100 trophies
A falling apple prompts a young Isaac Newton to develop laws of gravity. Greek philosopher Archimedes figures out volume and density while taking a bath. For geniuses, every detail is a source of inspiration. For Tekken genius Bae Jae-min, also known as “Knee,” his inspiration for developing a killer combo move came from a frivolous skill that baffled other players over why it even existed. The “taunt” skill is a trademark move of Bryan Fury, a character from Tekken,
April 20, 2021
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Shinhan launches all-around mobile payment solution
South Korea’s Shinhan Financial Group on Tuesday launched a mobile payment solution, as traditional banking groups seek to bolster their digital capabilities in competition against rising fintech firms. The payment solution, Shinhan Pay, provides Shinhan Card subscribers with easy-to-use payment services and money transfers at several offline stores. For Shinhan Bank users, Shinhan Pay allows them to easily subscribe and activate mobile debit cards linked to their bank accounts. Shin
April 20, 2021
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KOSPI soars to all-time high on recovery hopes
The South Korean benchmark stock index refreshed its all-time high Tuesday, extending its winning streak to a seventh session amid speculations of a global economic rebound and strong corporate earnings in the first quarter. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.86 points, or 0.68 percent, to close at 3,220.7 points, the highest finish since the closing of 3,208.99 points on Jan. 25. Trading volume was moderate at about 1.3
April 20, 2021
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Samsung’s Lee family to announce inheritance tax plan next week
The bereaved family of Samsung Group Chairman Lee Kun-hee will make public its plans for the late tycoon’s massive personal wealth, estimated to be worth over 30 trillion won ($26.98 billion), industry sources said Tuesday. The plan will include donations of art from the chairman’s collection and the allocation of his stocks to family members, including Lee Jae-yong, his son and successor in the Samsung empire. It will also detail how the family plans to pay the inheritance taxes.
April 20, 2021
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Shinhan Bank partners Kakao Mobility to support taxi drivers
Shinhan Bank said Tuesday it has signed a memorandum of understanding with Kakao Mobility to financially support the taxi-hailing company’s employees and cooperate on developing new business models. Under the deal, Shinhan Bank will provide loan programs offering favorable interest rates to taxi drivers and employess of nine taxi compnies operated by TJ Partners. The company is a subsidiary of Kakao Mobility, an affiliate of the country’s dominant mobile messenger operator,
April 20, 2021
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S. Korea to become non-regional partner of Central American bank in August
SEJONG -- South Korea will become a non-regional partner of the Central American Bank for Economic Integration (CABEI), a regional lender of Central American nations, in August, officials said Tuesday. In January last year, South Korea joined the multilateral lender and provided $630 million to the CABEI for a 9 percent stake in the lender. A non-regional member could become a partner of the CABEI if its stake is above 8 percent, according to Seoul's finance ministry. South Korea and the CABE
April 20, 2021
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T’way Air finalizes lease deal to introduce midsize jetliners early next year
Low-cost carrier T’way Air said Tuesday it has signed a deal to lease three midsized aircrafts A330-300 with plans to roll them out early next year. The plan will see the airline introduce a new fleet of aircrafts gradually between February and May in 2022. With the jetliner boasting a wide body, the airline will offer business and economy seats and a wider range of in-flight amenities. The airline said the move following the signing of a letter of intent in December will bolster its bu
April 20, 2021
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LG's Vietnamese smartphone production line to make home appliances
South Korean tech giant LG Electronics Inc. said Tuesday it plans to produce home appliances from its smartphone manufacturing line in northern Vietnam, as the company earlier decided to fully withdraw from the mobile business. Under the plan, the company will complete the transformation within this year while reallocating affected workers, LG Electronics said in a statement. "Exiting smartphone production here is part of LG's plan to restructure our core product portfolio," said Jun
April 20, 2021
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Chiefs of 50 biz groups receive W1.8tr in dividends in 2020
Dividends paid to the chiefs of South Korea's top 50 business groups jumped 37.1 percent last year from a year earlier as major companies delivered more returns to shareholders, industry data showed Tuesday. A total of 39 heads of the nation's 50 conglomerates received a combined 1.8 trillion won ($1.6 billion) in 2020, according to the data by the local research firm Korea CXO Institute. Dividends to late Samsung Group Chairman Lee Kun-hee amounted to 862.6 billion won last year, which acco
April 20, 2021
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Korean asset managers rush to ramp up green drive
South Korea’s asset management companies are beefing up their drive to take environmental, social and governance factors into account, by endorsing an international climate initiative and by creating an internal body to monitor the green investing process. On Tuesday, three Seoul-based asset management firms -- KB Asset Management, Samsung Asset Management and its subsidiary Samsung Active Asset Management -- announced that they have joined a cohort of some 2,000 organizations from 7
April 20, 2021
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Brokerages' overseas operations see profit gain in 2020
Overseas branches of South Korean securities companies saw their combined net profit rise 5.6 percent in 2020 from a year earlier due mainly to increased earnings from commission fees, data showed Tuesday. The combined net profit of 70 overseas branches of 14 securities companies stood at $197.3 million in 2020, up $10.5 million won from 2019, according to the data from the Financial Supervisory Service. The hike in net profit came on the back of increased interest income and earnings from com
April 20, 2021
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McDonald's to release BTS meal in nearly 50 countries
Fast food restaurant chain McDonald’s has announced that it is teaming up with popular Korean group BTS for a new celebrity meal which will hit the stores next month globally. The BTS Meal consists of a 10 Chicken McNuggets, medium fries, a medium Coke as well as Sweet Chili and Cajun dipping sauces inspired by popular recipes from the South Korean unit of McDonald’s, which will be available for the first time in the US. The new collaboration, which follows the company’s prev
April 20, 2021
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Doosan preparing to tap global hydrogen market
Doosan Group said Tuesday that it has been gearing up to tap the global hydrogen market by forming a task force to conduct market research. Doosan Group formed a task force under its holding company Doosan Corp. to conduct the project that will review the markets of production, distribution and utilization of hydrogen, the group said. Doosan has affiliates under its wing such as power plant builder Doosan Heavy Industries & Construction Co., fuel cell manufacturer Doosan Fuel Cell Co. and
April 20, 2021
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S. Korea seeks to tackle rising non-tariff trade barriers
South Korea's trade ministry said Tuesday it plans to cooperate with major trade partners to cope with the growing number of technology barriers in the global market. Members of the World Trade Organization (WTO) issued 1,023 technical barriers to trade (TBT) over the January-March period, up 7 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. TBTs, which include consumer safety standards, energy and environmental requirements, are often
April 20, 2021
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Seoul stocks open higher on earnings hope
South Korean stocks opened higher Tuesday on investors' hopes of strong corporate earnings in the January-March quarter amid speculation of a global economic rebound. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.86 points, or 0.18 percent, to 3,204.7 points in the first 15 minutes of trading. Stocks got off to a strong start despite increased valuation pressure from the six-day winning streak, as brokerages projected strong quarterly performances by local big-name companies.
April 20, 2021