Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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S. Korea, Japan could consider simplified entry agreement: Seoul official
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[Weekender] How DDP emerged as an icon of Seoul
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[Herald Interview] Guggenheim Museum makes a push for technology-based art with LG
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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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Tensions heighten ahead of first president-opposition chief meeting
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'The Roundup: Punishment' becomes fastest 2024 film to top 2 mln admissions
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New chief named to anti-corruption body
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[Music in drama] An ode to childhood trauma
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Seoul shares open lower tracking Wall Street losses
South Korean stocks started lower Thursday tracking overnight losses from Wall Street, as the US' fourth-quarter economic growth was slower than earlier estimated. The benchmark Korea Composite Stock Price Index fell 20.49 points, or 0.77 percent, to 2,631.8 in the first 15 minutes of trading. Overnight, the US stock market closed weaker, with the Dow Jones Industrial Average falling 0.06 percent and the tech-heavy Nasdaq Composite losing 0.55 percent. The US economy expanded 3.2 percent in
Feb. 29, 2024
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Zuckerberg meets LG top brass to discuss XR partnership
Mark Zuckerberg, CEO of Meta, formerly Facebook, met with LG Electronics CEO Cho Joo-wan on Wednesday in Seoul to discuss ways to strengthen their corporate partnership in the extended reality business. Zuckerberg had a luncheon with Cho and other senior officials from LG, including Kwon Bong-seok, chief operating officer at LG Corp., and Park Hyoung-sei, president of home entertainment business at LG Electronics, at the tech giant’s headquarters in western Seoul, according to the company.
Feb. 28, 2024
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Kakao Pay vice president appointed head of securities unit
Shin Ho-cheol, vice president of Kakao Pay, was appointed as new chief executive officer of the stock brokerage arm, Kakao Pay Securities said Wednesday. The appointment was approved during the board of directors meeting on the same day. Pending approval at the group's regular general meeting of shareholders scheduled for March 27, Shin is set to officially assume leadership. “Given the significant responsibility of this position, I will spare no effort in expanding our growth and con
Feb. 28, 2024
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Daewoong names Nabota chief as new co-CEO
Daewoong Pharmaceutical, South Korea’s leading pharmaceutical company, is expected to appoint Vice President Park Seong-soo as its new co-CEO during its annual shareholders meeting in March, according to industry sources Wednesday. “Daewoong aims to accelerate the expansion of its overseas businesses with Park's appointment,” a source familiar with the internal matter said on condition of anonymity. Park has held diverse positions, handling global issues since he became th
Feb. 28, 2024
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Celltrion begins shipment of Remsima SC for US debut
Biopharmaceutical giant Celltrion announced Wednesday that the first batch of its new autoimmune disease treatment Zymfentra, also known as Remsima SC, has been shipped for its planned debut in the US next month. Zymfentra is the first and only subcutaneous injection version of Remsima, Celltrion’s infliximab biosimilar, to have been approved by the US Food and Drug Agency. The company said its more patient-friendly administration compared to the current intravenous injection version is ex
Feb. 28, 2024
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Seoul shares end over 1% higher ahead of key US data
South Korean stocks ended higher Wednesday as investors closely awaited key data from the United States later this week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 27.24 points, or 1.04 percent, to 2,652.29. Trade volume was moderate at 409.7 million shares worth 10 trillion won ($7.4 billion), with gainers outpacing losers 559 to 302. Individuals were net sellers by offloading 539.2 billion won, while foreigners scooped up a net 458 bill
Feb. 28, 2024
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Woori, UAE’s Mubadala seek to bolster ties
South Korea’s major banking holding firm Woori Financial Group and Abu Dhabi sovereign wealth fund Mubadala Investment Company took the first step toward partnership as their subsidiaries signed a deal for joint efforts in discovering global investment opportunities. Woori Venture Partners, the venture capital unit of the Korean conglomerate, and Mubadala Capital, the asset management subsidiary of Mubadala, signed a memorandum of understanding for their strategic cooperation in Abu Dh
Feb. 28, 2024
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South Korea’s fertility rate drops to new low
South Korea's fertility rate continued its steep fall last year as it hit a record low of 0.72, darkening prospects for the country that already has the world's lowest fertility rate, data showed Wednesday. The country's fertility rate -- the average number of children a woman has during her lifetime -- came to 0.72 last year, down from 0.78 in the previous year, according to the preliminary data presented by Statistics Korea. It is the lowest level since 1970 when the state-run s
Feb. 28, 2024
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Hyundai wins most safety awards in US assessment
Hyundai Motor Group announced Wednesday that it has won the highest number of vehicle safety awards from the US Insurance Institute of Highway Safety among all assessed global automakers this year. According to the South Korean automaker, its three brands -- Hyundai Motor Company, Kia and Genesis -- won a combined 16 Top Safety Pick and TSP+ awards at this year’s annual assessment. “Hyundai Motor Group is proud to have earned the industry leadership position in the recent IIHS 2024 T
Feb. 28, 2024
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US Navy secretary scouts Korean shipbuilders for fleet support
US Secretary of the Navy Carlos Del Toro toured the shipyards of HD Hyundai Heavy Industries and Hanwha Ocean on Tuesday to explore their military shipbuilding capabilities for handling comprehensive support services for the US Navy fleet, as part of US defense needs to bolster its naval presence in Asia. Del Toro's visit to Korea comes as the US contemplates outsourcing naval ship maintenance, repair, and overhauls, or MRO, to alleviate domestic capacity constraints. These services keep na
Feb. 28, 2024
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Coupang reports first profitable year
New York-listed e-commerce giant Coupang on Wednesday reported its first-ever annual operating profit of $473 million last year, marking a milestone since its inception in 2010. It also reported $24.4 billion in sales, a notable 20 percent jump from 2022. In the fourth quarter alone, its quarterly sales soared 20 percent to a record $6.6 billion, while its operating profit saw 51 percent on-year growth to $130 million. "Since the beginning of this company, we have made foundational bets on
Feb. 28, 2024
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SK Telecom, SK Enmove, UK’s Iceotope join hands for data center innovation
SK Telecom said Wednesday it had teamed up with Iceotope Technologies, a precision liquid cooling firm in Britain, and its sister firm SK Enmove to develop a liquid cooling solution with high energy efficiency for artificial intelligence data centers. The leading mobile carrier in Korea said it has signed a partnership agreement with Iceotope and SK Enmove, a base oil and lubricants provider affiliated to SK Group to come up with a data center air conditioning and cooling system to cut large pow
Feb. 28, 2024
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CJ’s Tous Les Jours seeks bigger footing in Indonesia
CJ Foodville, the operator of the bakery chain Tous Les Jours and a subsidiary of South Korean conglomerate CJ Group, said Wednesday its bakery stores in Indonesia have surpassed 60 in number, with a recent addition in Bandung, located southeast of the capital Jakarta. Having entered the Indonesian market in 2011, CJ Foodville initially focused on opening branches around the capital city. However, the company has been recently diversifying its focus to include major cities, including Tangerang,
Feb. 28, 2024
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KT CEO renews vision for growth
KT Corp. CEO Kim Young-shub declared the company’s new vision that accelerates innovation and growth in information technology, artificial intelligence and communications technology. “Although KT is a leading telecom company in the world, it lacks IT competitiveness. We must make up for weak points by combining our CT and IT,” the CEO said at a press conference held on the sidelines of the Mobile World Congress 2024 in Barcelona, Spain, on Tuesday. Kim urged KT Corp. to embark
Feb. 28, 2024
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LX Hausys to ramp up presence at KBIS trade show
South Korean construction and interior materials company LX Hausys on Wednesday said it is participating in this week's Kitchen and Bath Industry Show in Las Vegas, which runs through Thursday. The company said it aims to showcase its latest collection of engineered stone and artificial marble, aligning with its strategic goal of expanding into the thriving overseas market. Artificial marble, known for its cost-effectiveness and durability against impact, scratches and stains, constitutes a
Feb. 28, 2024
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[Photo News] Hyundai Staria Hybrid
Hyundai Motor Company on Wednesday started taking preorders for the 2024 Hyundai Staria and the newly-added hybrid model of the minivan. According to the automaker, the Staria 1.6 Turbo Hybrid boasts a fuel efficiency of 13 kilometers per liter with a maximum system horsepower of up to 245. The prices of the hybrid model and the 2024 year model begin at 34.33 million won ($25,763) and 28.47 million won, respectively. (Hyundai Motor Group)
Feb. 28, 2024
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Samgyeopsal Day heats up with stricter fat guidelines
March 3, also known as "Samgyeopsal Day" in Korea, is approaching, with anticipation building for promotional events planned by local supermarkets. Most supermarkets and e-commerce platforms will offer discounts ranging from 40 to 50 percent on pork belly from Feb. 29 to March 3. But there is a complication: This year is the first Samgyeopsal Day following the implementation of government guidelines on excessive fat content in pork belly. Last year, criticism arose over local stores&
Feb. 28, 2024
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New Galaxy S24 sales top 1 million in S. Korea
Samsung Electronics Co. said Wednesday sales of its latest Galaxy S series smartphones have exceeded 1 million units in South Korea within just 28 days of their launch. The Galaxy S24 series, which was unveiled on Jan. 16, reached the 1 million mark on the previous day, beating the previous record set by the Galaxy S8 series released in 2017 by nine days, according to Samsung Electronics. The achievement was three weeks ahead of its predecessor, the Galaxy S23 series, but just three days behind
Feb. 28, 2024
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[Investor] Hyundai Motor’s innovation and competition acclaimed
Hyundai Motor Group’s trailblazing electric vehicles have earned rave reviews and charted a path to success under the leadership of Chair Chung Euisun. CNBC, the premier economic news broadcaster in the United States, aired a special feature on Sunday focusing on the factors propelling the Korean carmaker to become the 3rd-largest contender in the global finished vehicle market. The feature emphasized the company's commitment to innovation and technological excellence as pivotal to it
Feb. 28, 2024
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Financial regulator reaffirms efforts to address risks of short-term property loans
The head of the country's financial regulator vowed continued efforts Wednesday to quickly address risks related to real estate project financing loans. Lee Bok-hyun, governor of the Financial Supervisory Service, stressed that such efforts will help end the capital crunch caused by PF loans related risks. "We are witnessing signs of a capital crunch as excessive amounts of money invested in real estate PF remain tethered," he told a meeting with the heads of financial think tanks
Feb. 28, 2024