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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[Herald Interview] US election may unleash growth for Korea: Laffer
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Evicted guest burns down inn; 3 killed
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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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Two N. Korean armed deserters arrested after shootout with Chinese security forces: source
Two North Korean deserters who robbed villages in China's Jilin Province have been arrested after a shootout with Chinese security forces, a source with direct knowledge of the incident said Friday. The source who lives near the Sino-China border region told Yonhap News Agency that the two were part of a group of five who illegally crossed the border near the North Korean city of Hyesan last Saturday and robbed people living in two rural villages at gunpoint.They were holed up at a house in the
North KoreaJuly 29, 2016
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Hi, Design Festival kicks off
An annual design festival led by Herald Corp. kicked off Friday with an aim to better support and introduce innovative products by local leading designers, the company said.Visitors purchase items at the Hi Design Festival’s design market, which opened in Seoul on Friday. (Yoon Byung-chan/The Korea Herald)Calling itself “a design culture festival enjoyed by all in one fine summer day,” the 3rd Hi, Design Festival offers programs including product markets, hands-on experiences and one-day classes
IndustryJuly 29, 2016
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POSCO Daewoo to withdraw from Madagascar Nickel plant project
POSCO Daewoo, a subsidiary of steelmaker POSCO, decided to withdraw from a Korean consortium that took part in a Nickel plant project in Madagascar, due mainly to a continuous deficit issue prompted by the plummeting Nickel price, the company said Friday. Since 2006, POSCO Daewoo has injected 150 billion won ($134 million) into a Nickel mine project in Ambatovy, Madagascar, after forming the Korea Ambatovy Consortium with STX and Korea Resources Corp. POSCO Daewoo’s withdrawal from the Ambatovy
IndustryJuly 29, 2016
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Rent contributes most to inflation since 2013
[THE INVESTOR] Rent has become the biggest contributing factor to inflation since 2013, a Bank of Korea report showed on July 29.According to the report, rent has come to account for 0.36 percentage points of the 1.1 percent consumer price rise recorded between the beginning of 2013 and June this year. In comparison, rent accounted for 0.29 percent of the inflation rate of 3.1 percent recorded for 2006 to 2012 period. The changes are thought to have been fueled by the spike in residential proper
July 29, 2016
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Paxnet gets approval for Kosdaq listing
[THE INVESTOR] Paxnet, a South Korean financial data provider, was approved for listing on the secondary bourse Kosdaq, the Korea Exchange on July 29. The stock of Paxnet will start trading from Aug. 1, and the indicative share price has been set at 5,200 won (US$4.63). The firm, which was established in 1999, logged 20.59 billion won in sales and 3.63 billion won in net income last year. (theinvestor@heraldcorp.com)
July 29, 2016
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[EQUITIES] SK Securities sees growth potential for Naver
[THE INVESTOR] SK Securities said Naver is expected to show solid growth this year on the back of Line’s successful IPO and a number of new money-making projects.Naver’s webtoon service, which launched overseas two years ago, has more than 18 million monthly users, while video messaging app Snow has more than 40 million users.In the second quarter, Naver’s operating profit rose 44 percent to 272.7 billion won (US$242.85 million), while sales rose 26.3 percent to 987.3 billion won. Net profit sur
July 29, 2016
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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
TechnologyJuly 29, 2016
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[EQUITIES] NH Investment forecasts 10% increase in Samsung SDS’ annual profit
[THE INVESTOR] Samsung SDS is expected to manifest solid earnings in the latter half of the year, said NH Investment & Securities on July 29.For the entire year, Samsung SDS was forecast to post a 10 percent on-year increase in operating profit to 648.2 billion won (US$574.63 million), while sales will rise 4 percent to 8.19 trillion won. The brokerage also said that the planned split-off of the firm’s logistic business and an overall restructuring in its corporate governance including M&As woul
July 29, 2016
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AmorePacific posts record Q2 earnings on upbeat overseas sales
[THE INVESTOR] AmorePacific Group, the nation’s largest beauty company, on July 29 posted its best second-quarter earnings, largely driven by its soaring overseas sales especially in China. The company said April-June operating profit surged 27.1 percent to 309.7 billion won. Revenue stood at 1.79 trillion won, up 27.1 percent on-year. A Chinese customer tries out a Sulwhasoo foundation at a Seoul department store. AmorePacificDomestic sales at about 1.38 trillion won still made up the larger p
IndustryJuly 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
TechnologyJuly 29, 2016
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Sales of imported company cars fall on tough tax laws
[THE INVESTOR] Sales of imported company cars in Korea fell in the first half of the year on toughened tax laws, industry data showed on July 29.In the January-June period, sales declined 15.8 percent from the same period in 2015, according to the Korea Automobile Importers and Distributors Association. In total, 40,698 units of company cars were sold to account for 34.9 percent of the nation’s imported car sales. The BMW 520d is cited as one of Korea’s most widely used company cars.The declin
MobilityJuly 29, 2016
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Senior prosecutor, Nexon founder indicted over alleged bribery
The prosecution on Friday indicted a senior prosecutor and the co-founder of South Korea’s biggest online gaming company Nexon over alleged bribery and shady stock transactions, ending a monthlong probe into the high-profile corruption scandal. It also requested that the Justice Ministry dismiss the disgraced prosecutor, a sanction which will cut down his pension by 25 percent and ban him from opening a law office for three years. Lee Geum-ro, the chief of the prosecution’s special team for the
Social AffairsJuly 29, 2016
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[Highlights] Arts and entertainment calendar
Dance “Giselle: A Death-defying Love Story”: Universal Ballet will kick off a local tour with “Giselle” at the Chungmu Arts Hall from Aug. 12-14. “Giselle,” choreographed by Jean Coralli and Marius Petipa, is a romantic ballet in two acts that premiered at Universal Arts Center -- previously Little Angels Art Hall -- in 1985. The ballet depicts the tragic love story of peasant girl Giselle trying to save her lover from a group of supernatural women despite his betrayal. The performance will begi
PerformanceJuly 29, 2016
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BOK sees higher growth in 2017
[THE INVESTOR] South Korea’s economy will grow at a slightly higher pace in 2017, the Bank of Korea projected.In the monetary policy report submitted to the National Assembly on July 29, the BOK said that next year will see a small increase in growth rate compared to the upper 2 percent range forecast for this year. “The domestic economy is following an improving trend since the first quarter, but due to increasing uncertainties at home and abroad, growth rate for the year will be in the higher
July 29, 2016