Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Medical profs at top hospitals suspend surgeries, clinics
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Seoul shares open lower on Wall Street losses
South Korean stocks opened lower Thursday on an overnight dip on Wall Street amid the upcoming US midterm election results and a crash in cryptocurrencies. The benchmark Korea Composite Stock Price Index had declined 11.13 points, or 0.46 percent, to 2,413.28 points as of 9:15 a.m. The Dow Jones Industrial Average dropped 1.95 percent Wednesday, with the tech-heavy NASDAQ Composite and S&P 500 retreating 2.48 percent and 2.08 percent, respectively. Investors are paying keen attention to the
Nov. 10, 2022
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S. Korea to begin eased lending rules next month
South Korea will carry out eased lending rules for first-time homebuyers and owners of one home next month as the once red-hot housing market appears to be entering a downturn amid rising interest rates, the land ministry said Thursday. The government has adopted stricter lending rules and other regulations to help stabilize the country's real estate market in recent years. In response, the government came up with the latest measures amid growing concern about a possible failure of the prop
Nov. 10, 2022
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Regulator to ease bank capital rules amid liquidity concerns
South Korea’s top financial regulator on Wednesday eased capital rules for banks seeking to contribute to the government-led fund aimed at stabilizing the local bond and stock markets, in a bid to contain the spillover of liquidity stress. A local insurer’s decision two days ago to reverse its postponement of redeeming its dollar bonds worth $500 billion after being pressured to meet the original deadline had added to growing volatility gripping the bond and short-term money markets.
Nov. 9, 2022
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Korea declares road map to become hydrogen industry powerhouse
SEJONG -- South Korea on Wednesday unveiled a road map to take the lead in the global hydrogen industry over the next seven years, stressing the energy business would drive the growth of the nation's economy. At the meeting, presided over by Prime Minister Han Duck-soo, the Ministry of Trade, Industry and Energy said the plan is to have 600 hydrogen businesses of global competitiveness, from the current 52, by 2030. To achieve this goal, the government will ease "unreasonable regulatio
Nov. 9, 2022
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Samsung not interested in slidable phones: analyst
Foldable phones may have prompted the demand for devices with an expandable screen, but Samsung Electronics seems not interested in slidable phones due to lukewarm marketability, an analyst said Wednesday. “The market for foldable phones overlaps with that for slidable phones. It will be difficult for slidable phones to create its own market,” said Yi Choong-hoon, CEO and top analyst of Seoul-based display market tracker UBI Research at a conference. “Samsung seems uninterested
Nov. 9, 2022
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S. Korea, Africa seek cooperation to boost sustainable agriculture
SEOGWIPO, Jeju Island -- Researchers and government officials from South Korea and Africa gathered on Wednesday in a bid to discuss cooperative measures aiming to boost sustainable development of agriculture in the second-largest continent based on innovative technology. “Although Africa is one of the regions that show great growth potential for agriculture industry, more than 23.5 million people suffer from food crisis -- those who are forced to skip one or two meals in a day -- due to cl
Nov. 9, 2022
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Minister calls regulatory reform, globalization key to boosting startup ecosystem
South Korea’s biggest startup festival event Comeup 2022 kicked off in Seoul on Wednesday, with SMEs and Startups Minister Lee Young stressing regulatory reform and globalization as the two keywords for the nation’s startup ecosystem. “Regulations that are limiting potential of innovative startups are those that have been implemented during the industrial period. We will be bold in loosening such regulations to help startups open up their wings,” said the minister during
Nov. 9, 2022
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Seoul shares up for fourth day ahead of US midterm election results
South Korean stocks extended their winning streak to a fourth day Wednesday with investors paying keen attention to the US midterm election results. The Korean won surged against the US dollar. The benchmark Korea Composite Stock Price Index gained 25.37 points, or 1.06 percent, to close at 2,424.41 points. Trading volume was moderate at about 675 million shares worth some 9.2 trillion won ($6.7 billion), with gainers outnumbering losers 575 to 272. Institutions bought a net 348 billion won and
Nov. 9, 2022
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[Photo News] Night of blood
A total lunar eclipse, also called "blood moon," was observed in South Korea on Tuesday evening. According to the Gwacheon National Science Museum, the lunar eclipse also blocked Uranus, a rare occasion that could be seen from the country only once between year 1600 and 2300.
Nov. 9, 2022
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Uncertain year ahead for Korean banks amid looming debt crisis, CEO term-ends
Chiefs of South Korea’s top banks are fast approaching the end of their current terms amid concerns of a looming debt crisis in the financial sector, sources said Wednesday. Starting with NH Financial Group Chairman Son Byung-hwan’s term ending next month, Shinhan Financial Group Chairman Cho Yong-byoung and Woori Financial Group Chairman Son Tae-seung are inching towards the end of their current terms in March next year. CEOs of some banking giants’ flagship commercial lende
Nov. 9, 2022
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KT&G debuts all-new heated cigarettes geared with AI
South Korean tobacco company KT&G unveiled its series of new heat-not-burn tobacco devices equipped with artificial intelligence on Wednesday, with aims to maintain its leading position in the growing domestic electronic cigarette market. The new HNB cigarettes, or electronic devices which heat processed tobacco instead of combusting it to deliver aerosol with fewer toxicants, come in two models each named Lil Aible and Lil Aible Premium. Lil Aible comes in four colors 'Ultra Blue
Nov. 9, 2022
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Popeyes to come back after 2-year hiatus
Popeyes, a US fried chicken fast food chain, said Wednesday it is returning to the South Korean market in the coming weeks after a nearly two-year hiatus. The chain had ceased operations here in December 2020, citing business difficulties and poor sales as key reasons. Popeyes is set to open its first new location near Gangnam Station in southern Seoul, with employee training starting on Monday. Meanwhile, South Korea's fast food market is experiencing a heated "burger race," as c
Nov. 9, 2022
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Kakao Bank reaches 20m customers; Kakao Pay shares rise
KakaoBank Corp. said on Wednesday that the number of its customers has risen above 20 million in the five years since its launch in 2017, while Kakao Pay shares rose for a fourth day on news that it has partnered with China’s Alipay+. Kakao Bank, the internet-only bank under mobile platform service provider Kakao Corp., doesn’t charge any fees for wiring money or withdrawing cash via ATMs. It also waived early repayment charges for all borrowers who repaid their loans early, and help
Nov. 9, 2022
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Hanwha chief, Heritage Foundation founder discuss global economy, bilateral ties
Hanwha Group Chairman Kim Seung-youn held a banquet on Tuesday with Edwin Feulner, founder of the Washington-based policy think tank Heritage Foundation, in Seoul, to discuss ongoing geopolitical issues and its effects on the global economy. The latest meeting between Kim and Feulner took place on the sidelines of the American scholar's visit to Seoul for a conference on Seoul-Washington bilateral relations and market economy. The two have maintained their friendship since the 1980s, accord
Nov. 9, 2022
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Top regulator, bank chiefs vow to cooperate in stabilizing debt market amid credit crunch woes
South Korea's top financial regulator on Wednesday asked for local banks' cooperation in stabilizing the corporate bond and short-term money markets and helping money flow to businesses and small merchants in need. Kim Joo-hyeon, head of the Financial Services Commission, made the request in a meeting with chiefs of major commercial banks amid worries over a credit crunch sparked by a series of market-destabilizing events, including the Legoland-linked debt default. "Concerns over
Nov. 9, 2022
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Seoul shares open tad higher ahead of US midterm election results
South Korean stocks opened slightly higher Wednesday with investors paying keen attention to the US midterm election results. The benchmark Korea Composite Stock Price Index had increased 6.52 points, or 0.27 percent, to 2,405.56 points as of 9:15 a.m. Overnight, the Dow Jones Index added 1.02 percent and the tech-heavy NASDAQ Composite advanced 0.49 percent. In Seoul, market bellwether Samsung Electronics edged up 0.16 percent, while No. 2 chipmaker SK hynix retreated 0.34 percent. Top automake
Nov. 9, 2022
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S. Korea's on-year job additions slow in October amid uncertainties
South Korea added jobs for the 20th straight month in October, data showed Wednesday, but the growth continued to slow for the fifth month in a row as the country braces for a possible recession amid high inflation and slowed growth. The number of employed people stood at 28.41 million last month, up 677,000 from a year earlier, according to the data compiled by Statistics Korea. It was the largest on-year growth for any October since 1999. The October figure marked a slight drop from the on-yea
Nov. 9, 2022
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KDI warns of zero growth in 2050 without structural reforms
SEJONG -- South Korea's state-run think tank warned Tuesday that the nation's economy could slow practically to a standstill in 2050 unless its falling productivity is elevated through structural reform efforts. The Korea Development Institute released a report on the long-term outlook of the Korean economy. According to the report, the nation's economic growth rate is likely to be just 1.3 percent in the 2030s and 0.7 percent in the 2040s per annum in the wake of a rapid decline in the workin
Nov. 8, 2022
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Renault’s QM6 sales stay strong
Renault Korea said Tuesday it sold a total of 2,007 units of the QM6 in October, as the top-selling LPG SUV increasingly appeals to drivers with its spacious interior and comfortable driving. The sales figure accounted for nearly half of the total car sales of the French carmaker, at 4,339 last month. The car’s exports also surged 41.9 percent to 2,449 units compared to the same period last year. The carmaker picked the car’s spacious interior as the key point of attraction to local
Nov. 8, 2022
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Seoul shares up over 1% on hopes of eased tightening, Samsung gains
South Korean stocks closed up over 1 percent Tuesday as Samsung Electronics and tech blue chips rose amid hopes for eased monetary tightening in the United States, analysts said. The local currency jumped against the US dollar. The benchmark Korea Composite Stock Price Index advanced 27.25 points, or 1.15 percent, to 2,399.04. It marked the third straight session of a rise. Trading volume was moderate at 492.8 million shares worth 8.5 trillion won ($6.13 billion) with gainers outstripping declin
Nov. 8, 2022