Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Doctors' group picks new leader amid tense standoff over increased enrollment quota
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Korea enters full election mode
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[Kim Seong-kon] The April 2024 election will decide our future
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Seoul’s bus union prepares for strike
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Nexon GT to withdraw ‘Sudden Attack 2’ by Sept. 29
[THE INVESTOR] Nexon GT said on July 29 that it has decided to withdraw its “Sudden Attack 2” game by Sept. 29. The decision came just 23 days after the game was introduced, and comes amid controversy over its alleged exploitation of the female sexuality. Nexon GT deleted some of the characters, but was unable to quench the criticism, which further mounted on a scandal involving Nexon founder Kim Jung-ju and his friend and prosecutor Jin Kyung-joon who was arrested and indicted today. Nexon GT h
July 29, 2016
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Top Korean firms invest W21b in AI research institute
[THE INVESTOR] Seven South Korean conglomerates joined hands to launch on July 29 a research institute focused on artificial intelligence technologies. Samsung Electronics, Hyundai Motor, SK Telecom, KT, LG Electronics, Naver and Hanwha Life Insurance have contributed 3 billion won (US$2.67 million) each to launch the AI Research Institute. 123rf“We will bring in the best human resources and develop core technology for the information intelligence society,” said Kim Jin-hyung, head of the instit
July 29, 2016
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Naver to offer digital platform for Michelin’s Seoul guide
[THE INVESTOR] Michelin guide’s Seoul edition will be available online through South Korea’s portal giant Naver.Michelin Korea has signed an agreement with Naver for digital partnership, it said on July 29, in time for the release of Seoul edition. Naver headquarters in Bundang, Gyeonggi Province.Based on Naver’s free mobile homepage-making platform modoo!, the digital version of the world’s oldest and most recognized guide on Seoul will be published in Korean and English. In addition to the di
July 29, 2016
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FTC fines Baedal Minjok for manipulating online reviews
[THE INVESTOR] Korea’s antitrust watchdog has fined the hot-selling food delivery app Baedal Minjok and five other similar firms for slyly manipulating online user reviews.The Fair Trade Commission announced on July 28 that it imposed a combined fine of 17.5 million won (US$16,000) on the six food delivery app companies for hiding negative online reviews and ordering their employees to post positive ones.Baedal Minjok is the No. 1 food delivery app in Korea.The companies were also found to have
July 29, 2016
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KT posts record-high Q2 operating profit in 4 years
[THE INVESTOR] Telecommunications firm KT posted second quarter operating profit of 427 billion won (US$379.6 million) -- its highest quarterly operating income in four years -- thanks to solid performances in its wireless network, landline telecom, and media businesses.The quarterly profit reflected a 15.8 percent increase on-year, KT said on July 29. Sales were up 4.5 percent to 5.68 trillion won. KT headquartersThe number of subscribers for KT's Long Term Evolution network service in the seco
July 29, 2016
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SK Telecom to increase capex this year
[THE INVESTOR] SK Telecom said July 28 that it would increase its capital expenditure by 100 billion won (US$88.90 million) to 2.1 trillion won this year to upgrade its existing telecommunications infrastructure.The company announced the investment plan after announcing its second-quarter earnings on the day. The head office of SK Telecom in SeoulSome market watchers considered the latest decision an unexpected move as the nation’s telecom market has reached a near-saturation point.The mobile ne
July 28, 2016
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Despite profit surge, gloomy outlook for SK Telecom
[THE INVESTOR] SK Telecom, the nation’s largest telecom carrier, on July 28 posted its second-quarter operating profit of 478.2 billion won (US$425 million), a 20.73 percent surge from a year ago. Revenue was also up 11.25 percent to 3.92 trillion won. But the upbeat results included huge cost cuts following an earlier retirement program during the cited period. Industry watchers estimate about 9.04 percent on-year decline in its operating profit. In a saturated telecom market, the company with
July 28, 2016
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Naver to nurture ‘next LINE’
[THE INVESTOR] South Korea’s Internet giant Naver said it would try to increase its global presence with its mobile services, including the webtoon platform, Snow, a Snapchat-like app, and V-App, a video streaming service focused on Korean pop culture.“The webtoon, Snow and V-App services have made remarkable achievement so far in the global market,” said Kim Sang-hun, CEO of the Pangyo-based company, in the second-quarter conference call on July 28.“If the company pushes further together with i
July 28, 2016
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Naver’s Q2 earnings surge 44% on upbeat overseas sales
[THE INVESTOR] South Korean Internet giant Naver on July 28 posted its second-quarter operating profit of 272.7 billion won (US$240 million), up 44 percent from a year ago, largely buoyed by soaring overseas sales of its immensely popular LINE mobile messenger. Revenue also soared 26.3 percent to 987.3 billion won during the April-June period.Overseas sales saw a whopping 43.1 percent growth to 349.7 billion won compared to a year ago, making up 35 percent of the company’s total quarterly earnin
July 28, 2016
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LINE swings into black
[THE INVESTOR] LINE, the Tokyo-headquartered mobile messenger operator, said on July 27 that the company’s operating profit improved in the April-June period thanks to strong sales in its ad and media content businesses.Announcing its first earnings result on the day since its IPO in Tokyo and New York this month, the company said it logged 8 billion yen (US$75.74 million) in operating profit, up from an operating loss of 2.4 billion yen in the second quarter of last year. It also recorded 33.9
July 27, 2016
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Nexon’s latest mobile game a big hit overseas
[THE INVESTOR] Online game developer Nexon said on July 26 that the number of downloads for the global version of its mobile role-playing game “HIT” has exceeded the 3 million mark since its debut less than a month ago. First released in Korea in November 2015, the global version was launched in 140 nations, excluding China and Japan, on July 7. The mobile app has been included in the top 10 best-selling paid mobile apps in Thailand, Hong Kong, Taiwan and Vietnam. Nexon has recently been in the
July 26, 2016
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SK Telecom withdraws merger plan with CJ HelloVision
[THE INVESTOR] SK Telecom announced on July 26 that it is officially withdrawing the merger plan between its IPTV unit SK Broadband and the nation’s No. 1 cable TV operator CJ HelloVision. The announcement comes after the Fair Trade Commission, the state antitrust regulator, disapproved the 1 trillion won deal on July 18, citing monopoly concerns that could further strengthen SK Telecom’s dominant market position in the highly competitive paid TV market. “SK Telecom has notified CJ HelloVision t
July 26, 2016
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Korea to adopt US UHD TV standard
[THE INVESTOR] Korea has decided to opt for ATSC 3.0, a technology standard in the US for ultra-high definition broadcasting, over the European standard DVB-T2, the Ministry of Science, ICT and Future Planning said July 26.Most of the TVs made by Korean TV makers including Samsung Electronics and LG Electronics are based on the European standard, a relatively outdated technology compared to the US counterpart.Samsung Electronics’ 105-inch UHD TV / Samsung ElectronicsAs a result, many of those wh
July 26, 2016
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Huawei’s S. Korean branch under tax probe
[THE INVESTOR] Chinese cellphone maker Huawei’s South Korean office is being probed by tax authorities, local media reported on July 26. According to reports, the Seoul branch of the National Tax Service recently dispatched officials from the international business division for a tax audit. While Huawei said that it is a regular audit conducted every five years, reports citing unnamed sources say that the NTS is focusing on determining whether tax evasion occurred in dealings between Huawei’s lo
July 26, 2016