Most Popular
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Debate rages over ‘overly fatty’ samgyeopsal
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40 flights canceled on Jeju Island due to bad weather
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[Weekender] Korean psyche untangled: Musok
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Pandemic left Korea more depressed than before: report
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Gov't appears to shelve punitive measures against mass walkout by doctors
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[Eye Interview] 'If you live to 100, you might as well be happy,' says 88-year-old bestselling essayist
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From fake prostitution ring to nonexistent robber, prank calls hamper police
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S. Korea, China, Japan in talks to hold trilateral summit May 26-27: official
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Govt. asks hospitals to mitigate impact of medical professors' absence
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Seoul holds 1st World Bio Summit
The South Korean government on Tuesday kicked off the first World Bio Summit, a joint event with the World Health Organization to gather leaders of the vaccine and biotechnology industry to discuss innovations and ways to strengthen global health security. President Yoon Suk-yeol highlighted the importance of solidary and cooperation that go beyond the borders to prepare for humanity’s common adversity of new infectious diseases and pandemics. “Global society should work together
Oct. 25, 2022
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Lawmaker claims Netflix Korea may have been evading tax
Netflix Korea, a Korean subsidiary of the global streaming platform Netflix, saw over 1.2 trillion won ($836 million) in sales for last three years but paid only 0.5 percent of its revenue in tax, a ruling party lawmaker said on Tuesday, raising suspicion that the US company may have been evading local taxes. According to an audit report of Netflix Korea released by Rep. Kim Seung-su of the People Power Party, from 2019 to 2021, Netflix Korea gained 1.23 trillion won and transferred 959.1 billio
Oct. 25, 2022
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Overseas flight bookings soar over 14-fold, with a half heading to Japan
Overseas flight bookings skyrocketed during the first three weeks of this month by 1,336.3 percent compared to the same period last year, according to Interpark on Tuesday. The noticeable increase of overseas travel bookings comes after COVID-19 travel restrictions have been lifted not only in South Korea but in other popular tourist spots as well, says the online ticketing site. Japan was topped the list of popular travel destinations with 48.2 percent of flights booked heading there. The numbe
Oct. 25, 2022
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Mercedes-Benz CSR Committee continues to reach out to communities in need
Mercedes-Benz Korea has donated vehicles to local communities for seven consecutive years as part of its social outreach project called Mercedes-Benz All Together, according to the company on Tuesday. Mercedes-Benz Korea launched its Mercedes-Benz CSR Committee in 2014 to make a systematic and continuous contribution to Korean society such as donating cars to social welfare institutions. The committee has donated a total of 44 vehicles to 43 institutions as of this year, the German carmaker said
Oct. 25, 2022
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SK hynix samples fastest next-gen standard memory module
South Korean memory chip supplier SK hynix said Tuesday it has shipped the world's fastest DRAM module under the double data rate 5 standard, considered a next-generation memory technology. SK hynix shipped memory module samples that boast up to a 6,400-megabit-per-second data transfer speed and 32-gigabyte memory density earlier this month, according to the company, without specifying the date. It added the integration of the clock driver in the new samples has improved the signal integrit
Oct. 25, 2022
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Samsung still tight-lipped on Lee Jae-yong's succession
A memorial service honoring the late Samsung Electronics Chairman Lee Kun-hee was held Tuesday, without a major announcement made by the electronics giant in regards to a succession plan for his son to ascend to the top leadership. Speculation has been building recently that Samsung Electronics Vice Chairman Lee Jae-yong might be promoted to the chairman post, using the memorial service for momentum. Lee has held the "vice chairman" position for the past decade. Lee's eventual ass
Oct. 25, 2022
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Eximbank kicks off annual development cooperation workshop
The Export-Import Bank of Korea (Eximbank) kicked off its 26th Economic Development Cooperation Fund Annual Workshop on Tuesday, in which 14 government officials from 14 different developing countries are participating. The EDCF Annual Workshop is hosted by Eximbank to introduce development officers from developing countries to Korea’s Economic Development Cooperation Fund. The fund was created in 1987 as part of the South Korean government’s official development assistance initiativ
Oct. 25, 2022
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Renault's QM6 becomes newest addition to police fleet
Renault Korea said Tuesday it has supplied 67 of its popular sport utility vehicle QM6 to law enforcement, to be used by local detectives and riot police officers. Renault Korea’s QM6 model was recognized by police officials as being fit for police operations for its low noise levels and spacious interior, the automaker explained. QM6 boasts the most spacious back seat among SUVs in the similar range. With the back seats folded, it opens up 2,000 liters of cargo space when including the tr
Oct. 25, 2022
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Seoul shares open higher ahead of major earnings reports
South Korean stocks opened higher Tuesday, as investors await quarterly earnings reports from major companies this week, including tech giant Samsung Electronics Co., amid worries over global inflation and monetary tightening. The benchmark Korea Composite Stock Price Index rose 7.74 points, or 0.35 percent, to 2,243.90 in the first 15 minutes of trading. Top companies are set to release their third-quarter earnings later this week. The results will likely offer investors a clue as to how they a
Oct. 25, 2022
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Inflation expectations inch up in October amid interest rate hikes: Bank of Korea survey
South Korea's inflation expectations edged up on-month in October amid the Bank of Korea's aggressive rate hikes to bring price growth under control, a central bank survey showed Tuesday. Ordinary people expected consumer prices will grow 4.3 percent over the next one year, up 0.1 percentage point from 4.2 percent polled the previous month, according to the poll conducted by the BOK. This represented the first on-month rise in three months. Those polled cited possibly rising public fee
Oct. 25, 2022
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SK Group chief apologizes over data center fire
SK Group Chairman Chey Tae-won on Monday apologized over massive disruptions of online services in South Korea following a fire at a data center run by one of the group's subsidiaries earlier this month. "I would like to deliver an apology to the people," Chey said during an audit at the parliament's Science, ICT, Broadcasting and Communications Committee. "I feel very responsible for the blackout. The entire SK Group is making efforts to deal with the situation."
Oct. 24, 2022
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Uncertainties behind recent liquidity crunch: FSC
A liquidity crunch South Korea is currently facing has to do with multiple factors, mainly led by uncertainties about where the economy is headed amid soaring interest rates and the rapidly depreciating local currency, the country’s top financial policymaker said Monday. “We had prepared the contingencies but the market conditions were worse than what we had expected,” Kim Joo-hyun, chairman of the Financial Services Commission, said at a National Assembly audit. Kim referred t
Oct. 24, 2022
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Kakao founder considers sweeping compensation for service blackout
Kim Beom-su, founder of South Korean online platform behemoth Kakao, said Monday that he will consider providing across-the-board compensation for users who suffered damages due to the company’s unprecedented service malfunction caused by a fire at an SK C&C data center on Oct. 15. "We are currently accepting damage reports from the users, so it is difficult to specifically tell the type and size of our compensation. We are reviewing all measures to help (users) recover,”
Oct. 24, 2022
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Posco Holdings’ Q3 operating profit plunges 71% over typhoon damage, dropped steel price
Posco Holdings said Monday that its third quarter operating profit plunged 71 percent to 920 billion won ($363.9 million), largely due to operation suspension and damages from typhoon that hit the company’s steel plant in Pohang, North Gyeongsang Province, last month, as well as the continuously falling global price of steel. The holding company of the steelmaker Posco said in its regulatory filing that its third quarter net profit dropped sharply to 592 billion won, a 77.2 percent fall on
Oct. 24, 2022
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[Contribution] A new order for transforming our shared oceans
For a long time, the ocean functioned as a set of passageways for ships and a space to catch fish. However, today’s ocean offers us much more. Some may enjoy the sea as a leisure venue for surfing as they ride across the cool waves, and others may think of it as a place with a marine science base that continues to respond to climate change. The sea also serves as a repository for renewable energy, including tidal, wave and wind power. Ninety-nine percent of the world’s internet traff
Oct. 24, 2022
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[Test Drive] The ID.4: a great family EV
It’s no wonder why Volkswagen took a while to introduce its electric vehicle in South Korea. With its all-electric SUV ID.4, the German carmaker offers an accessible EV solution for local customers pursuing an eco-friendly family life. The electrified midsize SUV boasts remarkable spaciousness. It is big enough to accommodate a family as well as equipment for activity lovers. There is enough leg- and headroom in both the front and back seats, and the trunk is capable of storing up to 543 l
Oct. 24, 2022
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Seoul shares snap 3-day losing streak amid eased default risks
South Korean stocks advanced Monday to end their three-day losing streak. with construction and tech companies leading the rally, as the government's 50 trillion-won ($35 billion) liquidity support plan eased worries about growing credit crunch risks. The local currency ended nearly flat against the US dollar. The benchmark Korea Composite Stock Price Index rose 23.04 points, or 1.04 percent, to close at 2,236.16. Trading volume was moderate at 434 million shares worth 6.76 trillion won wit
Oct. 24, 2022
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Chip firms invested 10 times more in China than US: lawmaker
SEJONG -- South Korea’s chipmakers are likely to suffer losses from US sanctions against the Chinese semiconductor industry, as Korea has invested far more in China than the US, an opposition lawmaker said Monday. According to data handed over to Rep. Kim Hoi-jae of the Democratic Party of Korea by the Ministry of Trade, Industry and Energy, Samsung Electronics invested $3.8 billion in the US market between 1997 and 2020. This was equal to just 22.2 percent of the chipmaker’s inves
Oct. 24, 2022
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Hyundai Motor Q3 sales soar 30% on increased global sales
Hyundai Motor on Monday reported 37.7 trillion won ($26.2 billion) in total sales for the third quarter, an increase of 30.6 percent on-year. It was boosted by a significant increase in global sales, which the automaker forecast would expand in the final quarter as the auto parts supply crunch eases. Hyundai Motor sold 1.02 million cars from July to September, according to a regulatory filing. The third quarter is regarded as a low season for the carmaker, as employees take vacations for the sum
Oct. 24, 2022
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Korean Air plane with 162 passengers overruns runway at Cebu Airport
A Korean Air plane overran a runway at the Cebu International Airport in the Philippines while attempting to land in poor weather late Sunday. No injuries were reported. The flight had 162 passengers and 11 crew onboard. Korean Air flight KE631, which had departed from Incheon to Cebu, had attempted to land twice in poor weather, and on the third attempt overran the runway, according to the South Korean air carrier while delivering an apology. “We sincerely apologize to our passengers and
Oct. 24, 2022