Most Popular
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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First-ever meeting of president, opposition chief set to finally happen
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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Experts raise concerns about Japan putting pressure on Naver over Line
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South Korea to launch space security center under spy agency
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More med professors to take day off each week while govt. urges them to stay
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Hybe refutes Ador CEO Min's denial of breach of trust
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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Legoland Korea Resort to open until 9 p.m.
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[Weekender] How DDP emerged as an icon of Seoul
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New Seollal tradition: Cash transfers, gift cards
The social distancing rule that prohibits a gathering of more than five people during the Lunar New Year holiday has led Koreans to seek practical alternatives to the tradition of gifting cash to children -- now via mobiles, not in-person. Kakao Bank, South Korea’s internet-only lender, is capitalizing on the special circumstances created by the coronavirus that restrict in-person family visits. The firm has launched a giveaway event for those who send or receive New Year‘s mone
Feb. 13, 2021
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Activist funds to watch in Korea proxy season
Activist fund managers at home and abroad are expected to play a bigger role in the forthcoming proxy season this year in South Korea that starts in March. Seoul-based proxy advisory services firm Korea Corporate Governance Service said in a report Tuesday the shareholders of the companies subject to proxy battle needs closer monitoring, as their results are “unpredictable.” Homegrown private equity firms including Korea Corporate Governance Improvement and HYK Partners are expecte
Feb. 13, 2021
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S. Korea’s central bank faces key changes to role in digital era
The upheavals brought by the COVID-19 pandemic have hastened the challenges faced by South Korea’s central bank, from digital transformation to demand for its bigger role to strive for employment stability in carrying out monetary policies. With the quickly changing economic and financial landscape, central banks around the world are scurrying to digitalize themselves. The People’s Bank of China recently entered the final stages of its own digital currency development and other cent
Feb. 13, 2021
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S. Korea expects 3 more homegrown COVID-19 treatments in H1
Three homegrown treatments for the novel coronavirus are expected to receive approval as early as the first half of this year as the country speeds up the approval process amid the pandemic. Last week, the country's drug safety agency approved pharmaceutical giant Celltrion Inc.'s CT-P59, an anti-COVID-19 monoclonal antibody treatment, marking the country's first homegrown treatment. The treatment will be provided to medical institutions starting in mid-February. It can only be ad
Feb. 13, 2021
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Naver, Kakao employees pocket 'bonuses' amid brisk performance
Naver and Kakao -- the two major South Korean tech companies -- have recently provided "bonuses," such as stock options and shares, to their employees amid record-breaking performances Annual sales of Naver -- South Korea's top internet portal operator -- and Kakao -- the operator of the country's top mobile messenger, KakaoTalk -- both jumped to all-time highs of 5.3 trillion won ($4.8 billion) and 4.15 trillion won, respectively, in 2020. The two tech firms have been c
Feb. 13, 2021
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Parcel volume rises 21% in 2020 amid pandemic
The parcel volume in South Korea rose 21 percent last year from a year earlier as more people shifted to online shopping amid the COVID-19 pandemic, government data showed Saturday. A total of 3.37 billion parcels were delivered in the nation by 18 logistics companies in 2020, surpassing 3 billion for the first time, according to the data by the Ministry of Land, Infrastructure and Transport. The parcel volume exceeded 2 billion in 2016 and had posted around
Feb. 13, 2021
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S. Korea's major banks likely to keep creditworthiness: S&P
South Korea's four major commercial banks appear likely to maintain their creditworthiness this year due to adequate capitalization and resilient asset quality, according to a recent report from S&P Global Ratings. Kookmin Bank, Shinhan Bank, KEB Hana Bank and Woori Bank have emerged from a pandemic-scarred 2020 with asset quality intact. Earnings for the whole of 2020, announced last week, show a decline in net interest margins and slightly higher credit costs f
Feb. 13, 2021
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How Korean food is rising to capture the world’s palate
Tangy, salty, sweet and spicy -- Korean food is all of that. Often using fermented condiments like the traditional “jang” and a diversity of spices, such as garlic, onion and pepper, Korean cuisine is notable for creating a harmony of flavors. Despite the rich and diverse tastes that come from the mastery of balancing these strong spices, Korean food long had a relatively short list of globally promoted dishes, especially compared to neighboring China and Japan. The list include
Feb. 12, 2021
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[Time to Play] NCSoft’s K-pop platform Universe ushers in AI voice subscription service
On a boring afternoon of yet another day working from home, a smartphone comes to life with a delightful ringtone. It’s a call from Ahn Yujin, the lead vocal of South Korean female K-pop band IZ*ONE. In her trademark husky voice, she calls you by name, saying “How’s it going? I know you’re busy, but take some rest from time to time, okay?” The 25-second-long phone call is a moment of solace, at a time when almost all direct human contact has been replaced with
Feb. 12, 2021
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[Herald Interview] Korean retail investors seek ties with WallStreetBets against short sellers
A group of local retail stock traders is working on a global anti-short selling campaign that may involve forging a partnership with WallStreetBets -- a regiment of amateur investors on the US social-networking website Reddit that drew attention for taking action against sophisticated hedge funds last month. Jung Eui-jung -- head of the Korea Stockholders Alliance, which represents some 22,000 stock investors -- told The Korea Herald that he had gone to the online forum and proposed a cros
Feb. 12, 2021
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Seoulites in 20s and 30s prefer property investments north of the Han
‘Ma-yong-seong,’ a portmanteau of three Seoul districts -- Mapo, Yongsan, and Seongdong -- is where Koreans in their 20s and 30s most want to invest, while Gangnam is the place favored by those in their 40s, according to poll results recently released by property data provider Zigbang. A survey of 1,796 Zigbang subscribers showed that 15.5 percent of participants said they think real estate properties in the three districts are the best investment choices, while 15.3 percent said
Feb. 12, 2021
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Tesla launches Model Y in S. Korea
US electric vehicle maker Tesla Inc. on Friday launched its compact sport utility vehicle, the Model Y, in South Korea as it tries to boost sales in the country. Tesla Korea said the Model Y is available in three trim levels here, with the starting price for the standard range model set at 59.99 million won ($54,191). The prices for the long-range model and the performance trim are to start from 69.99 million won and 79.99 million won, respectively. Starting this year, South Korea will give
Feb. 12, 2021
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[Herald Interview] Chaul: How Beiersdorf’s Korean tea-inspired skin care brand came about
In November the South Korean unit of German personal care giant Beiersdorf, the company behind brands such as Nivea and Eucerin, launched skin care brand Chaul. Its first lineup is inspired by the tea that grows in the southern part of the country -- in Hadong County, South Gyeongsang Province. Chaul, the first Beiersdorf brand to be exclusively developed and launched in Asia, was created in Korea with plans to branch out into other markets as the company recognizes the country’s famous K
Feb. 11, 2021
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LG H&H and Amorepacific: How Korea‘s two largest beauty giants swapped places during pandemic
For several decades, South Korea’s cosmetics industry has been dominated by two major players -- Amorepacific and LG Household & Health Care, together accounting for over 60 percent of the market as of end-2019. As the LG affiliate possessed a more diverse portfolio, also covering daily necessities such as toothpaste and detergent, beauty-dedicated powerhouse Amorepacific had an upper hand over its rival in the cosmetics sector. But this is no longer the case, as runner-up LG has at
Feb. 11, 2021
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LG Energy Solution threatens further legal action against SK Innovation after victory in US
Upping the ante in its battle with rival SK Innovation after a victory in the US International Trade Court, LG Energy Solution on Thursday threatened further legal action in Europe and South Korea. In a final ruling delivered Wednesday, US time, SK Innovation was slapped with a 10-year ban on importing lithium-ion battery products to the US, with a grace period of up to four years, for stealing trade secrets from LG Energy Solution. “It’s difficult to say SK Innovation’s th
Feb. 11, 2021
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Electroacupuncture can improve sleep, study suggests
Insomnia is one of the most common sleep disorders. According to the National Health Insurance Service, some 640,000 people visited hospitals due to insomnia in 2019. The number of such visits has steadily increased over the past five years. There might be hope. A recent study has found that electroacupuncture can help people suffering from insomnia. Used often in Korean traditional medicine, electroacupuncture involves administering small electric currents using thin needles inserted into
Feb. 11, 2021
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February set to be blockbuster month for IPOs
February is set to be another busy month for the South Korean stock market as a large number of companies are seeking to launch initial public offerings on retail investors’ strong appetite for direct investments, according to investment banking sources. This month alone, 12 firms are scheduled to float their shares on the stock market or hold retail subscriptions. The IPO subscriptions of five newcomers such as semiconductor equipment manufacturer Auros Technology and medical artificia
Feb. 11, 2021
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ITC backs LG Energy in trade secret dispute, issues 10-year import ban on SK
A US trade panel on Wednesday ruled in favor of South Korean battery maker LG Energy Solution Ltd. in a trade secret case and issued a 10-year import ban on some lithium-ion battery products by SK Innovation. The US International Trade Commission affirmed a preliminary ruling delivered in February 2020 to support LG's claims that SK used stolen trade secrets to develop its electric vehicle batteries. The ITC issued "a limited exclusion order" for 10 years to ban import of s
Feb. 11, 2021
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Microsoft CEO says big tech needs clearer laws on online speech
Microsoft Corp. Chief Executive Officer Satya Nadella said social-media services like Facebook, Twitter and YouTube need clearer laws and rules to govern whether controversial “Unilateral action by individual companies in democracies like ours is just not Microsoft doesn’t currently run a consumer social media service, but it is among cloud-computing In the past several years, antitrust regulators have ramped up investigations into the market power of large technology companies, just
Feb. 10, 2021
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Kospi returns above 3,100 points ahead of Lunar New Year
South Korean benchmark Kospi bounced back after a roller coaster ride Wednesday ahead of the Lunar New Year holiday, surpassing the 3,100-point mark. The main bourse got off to a slightly strong start but fluctuated widely until the late afternoon trade. The key stock index then moved upward during the remaining trading hours to close at 3,100.58 points, 15.91 points or 0.52 percent higher from the previous session’s close. Despite a brief respite overnight on Wall Street and the local
Feb. 10, 2021