Most Popular
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[KH Explains] Can smart chargers ease tensions over EV fires?
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1 in 5 households to have breadwinner over 80 in 30 years
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Assembly to review disputed appointment of national soccer team coach
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New Fifty Fifty off to strong start
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Arrival of fall calls for more outdoor festivals
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Evicted guest burns down inn; 3 killed
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[Herald Interview] US election may unleash growth for Korea: Laffer
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Yoon's Prague visit sets stage for W24tr nuclear power plant deal
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Doctors defend colleague accused of blacklisting non-strikers
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Listed firms' stock buybacks up 245% on-year in first 7 months
Share buybacks by South Korea's listed companies increased 244.8 percent on-year to 6.31 trillion won ($5.6 billion) in the first seven months of this year from a year earlier, data showed Monday.A total of 64 companies -- listed on the main bourse and the tech-heavy Kosdaq market -- had announced the share buybacks in regulatory filings as of July 27, compared with 1.83 trillion won by 47 firms from a year earlier, according to the data compiled by the bourse operator Korea Exchange.By market,
Aug. 1, 2016
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Duty-free sales nearly double in June
Sales at South Korea's duty-free stores nearly doubled in June from a year ago thanks to a rising influx of Chinese travelers and last year's low base in the wake of the Middle East Respiratory Syndrome outbreak, data showed Monday. Sales at duty-free stores nationwide jumped 94.1 percent in June from a year ago, surging for the ninth consecutive month, according to the data compiled by the Korea Customs Service. The June sales marked a sharp yearly growth because the market was hit hard by the
TechnologyAug. 1, 2016
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Seoul shares open higher on Wall Street gains
South Korean stocks opened higher Monday, taking its cue from gains in Wall Street.The benchmark Korea Composite Stock Price Index added 10.32 points, or 0.51 percent, to 2,026.51 in the first 15 minutes of trading.Tech shares led the gains. Market kingpin Samsung Electronics surged 2.14 percent, continuing its rally after posting robust second-quarter earnings, and chip giant SK hynix advanced 1.74 percent.Auto shares were in the positive terrain. Industry leader Hyundai Motor increased 1.14 pe
Aug. 1, 2016
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Property sector shrinks in Q2 on weak market
South Korea's property and real estate rental industry contracted in the second quarter for the first time in more than four years due to the sluggish market, central bank data showed Monday.According to the Bank of Korea's latest data on gross domestic product, the real estate and rental sector shrank 0.2 percent in the April-June period from three months earlier.It marks the first on-quarter decline since the fourth quarter of 2011, when the industry declined 0.6 percent from three months earl
Aug. 1, 2016
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Delinquency of bank loans to big firms jumps in June
The delinquency rate for South Korean bank loans to large companies soared in June from the previous month due mainly to a one-off factor, data showed Monday.Local banks saw the delinquency rate of their lending to big businesses stand at 2.17 percent at the end of June, up 0.81 percentage point from a month earlier, according to the data by the Financial Supervisory Service. From a year earlier, the figure was up 1.49 percentage points.Loans are considered delinquent when payment of both princi
Aug. 1, 2016
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Korea's exports tumble 10.2% on-year in July
South Korea's exports fell by more than 10 percent in July, with the rate of decline returning to double digits after single digits in May and June, the trade ministry said Monday.Outbound shipments came to $41 billion last month, down 10.2 percent from the same month last year, according to the Ministry of Trade, Industry and Energy.The July figure marked a record 19th straight month that exports decreased since January 2015.The double-digit fall came after on-year declines of 5.9 percent and 2
Aug. 1, 2016
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Korea's current account surplus hits record high in June
South Korea's current account surplus soared to a record high in June as an increased surplus in the goods balance helped offset a widening service account deficit, data showed Monday.The current account surplus reached $12.17 billion in June, compared with an $11.87 billion surplus from a year earlier, according to the provisional data released by the Bank of Korea.The current account is the biggest measure of cross-border trade.The June figure is the highest since 1980, when the central bank b
Aug. 1, 2016
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Emails of Seoul officials hacked by N. Korea: prosecution
Emails of dozens of South Korean defense and diplomatic officials and journalists have been hacked by North Korea this year, and the prosecution is looking into whether any state secrets have been leaked, the prosecution said Monday.Emails of some 90 officials from the defense, diplomatic and unifications ministries, as well as journalists and researchers on North Korea, have been subject to the hacking attacks from January to June, the Supreme Prosecutors' Office said. Fifty-six of them had the
North KoreaAug. 1, 2016