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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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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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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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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Seoul stocks down for 4th day on profit-taking
South Korean stocks fell slightly on Friday, sliding for a fourth consecutive session as investors sought to cash in on last week's surge and the European Central Bank did not roll out much-awaited boosting measures. The Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 1.88 points, or 0.09 percent, to close at 2,010.34. Trade volume was light at 316 million shares worth 3.69 trillion won ($3.25 billion), with gainers outnumbering losers 413 to 366.Fol
July 22, 2016
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K-beauty attracts investment from international big shots
[THE INVESTOR] The Korean cosmetics industry is garnering attention from global investment banks and luxury conglomerates, thanks to the growing popularity of K-beauty products riding on the Korean Wave in China. Investment heavyweight Goldman Sachs teamed up with Bain Capital’s private equity fund to take over controlling stake of Carver Korea last month and will increase their stake pouring as much as US$675 million. Costmetic coners of Shinsegae Duty Free Shop in Seoul/ / The Investor(Lee San
IndustryJuly 22, 2016
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Gov't bolsters countermeasures to deter N.K. cyberattacks
South Korea is beefing up its governmentwide countermeasures to prevent possible cyberattacks by North Korea, officials said Friday.The Ministry of Science, ICT and Future Planning said the number of cyberattacks by North Korea more than doubled in the first half of this year. The cyberattacks "are judged as a part of North Korean provocations to trigger public anxiety" in South Korea, the ministry said. Last month, South Korean police said North Korea hacked into more than 140,000 computers at
North KoreaJuly 22, 2016
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Hyundai Motor to open Genesis brand stores nationwide
[THE INVESTOR] Hyundai Motor plans to open some 10 Genesis brand stores nationwide in its latest upscale push as a luxury car maker. The first store is expected to open at Shinsegae Group’s new shopping center Starfield Hanam in Gyeonggi Province in September. The venue is also rumored to have hosted the nation’s first store of the iconic electric car maker Tesla. Other stores are also said to be located in posh districts in Seoul and major cities around the country. Genesis sports sedan G80Hyun
MobilityJuly 22, 2016
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Korea outlines 11 tln won extra budget plan to prop up economy
South Korea on Friday outlined an 11 trillion won ($9.64 billion) extra budget plan designed to prop up its economy facing sluggish exports and a possible fallout from corporate restructuring in key industries.It is part of the government's 28 trillion won economic stimulus package aimed at helping Asia's fourth-largest economy achieve 2.8 percent growth this year, which was downgraded last month from an earlier 3.1 percent.Passed by the Cabinet, the supplementary budget will be submitted to the
July 22, 2016
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Tooheys Extra Dry beer comes to Korea
Australian beer Tooheys Extra Dry will be hitting bars in Korea starting Friday, according to Korean manufacturer Hite Jinro.Tooheys Extra Dry, made by Lion in Australia, is a dry lager beer with 4.4 percent alcohol volume. The beer will only be sold in 345-milliliter bottles through bars, pubs, and dining bars. It will not be available through supermarkets or convenience stores. Tooheys Extra Dry beer (Hite Jinro)According to a spokesman for Hite Jinro, which imports the beer, Tooheys is especi
IndustryJuly 22, 2016
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Over 1,500 line up to taste Shake Shack burger in Korea
[THE INVESTOR] Food and confectionery giant SPC Group’s first Shake Shack outlet in Korea officially opened on July 22. More than 1,500 customers waited in line from the night before for a taste of the New York-based joint’s premium burger in southern Seoul, according to the company. As of 2 p.m. on the opening day, 420 customers visited the outlet, with the waiting line as long as 150 meters outside, it added. Shake Shack was established in 2001 by celebrity restauranteur Danny Meyer, starting
IndustryJuly 22, 2016
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[Dave Barry] The mood at Republican convention
Spoiler alert, the Republicans went ahead and actually nominated Donald Trump. The theme of the night was “Make America An Adjective Or Verb Again,” and the highlight speaker was Chris Christie, who had the crowd on its feet when he presented DNA evidence linking Hillary Clinton to a 17-state string of bank robberies. The evening ended on an inspirational note with Melania Trump leading the delegates in singing an original song she mostly wrote herself called “This Land Is Your Land.”(I promise
ViewpointsJuly 22, 2016
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Korea reports first auto trade deficit with China
For the first time, Korea is running a trade deficit of automobiles with China due to Korean firms‘ increased production in China and the entry of Chinese low-cost players in Korea, a report said Friday. As of the end of May, Korea’s trade deficit with China in the auto sector stood at $2 million, the first auto trade deficit with the neighboring country, the state-run Korea Institute for Industrial Economics & Trade said. Cars destined for export overseas stand parked at a port in Korea. (Yonha
MobilityJuly 22, 2016
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[Lee Ki-beom] The rule of law in the South China Sea
An Arbitral Tribunal under Annex VII to the 1982 United Nations Convention on the Law of the Sea (UNCLOS) made its final decision (with the secretarial assistance of the Permanent Court of Arbitration) on 12 July 2016 concerning the South China Sea dispute between the Philippines and China. The Philippines unilaterally addressed its written notification to China under the Annex VII arbitral procedure on 22 January 2013. Although China declared its non-appearance in the proceedings, the absence o
ViewpointsJuly 22, 2016
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Korean Cabinet OKs W11tr supplementary budget
[THE INVESTOR] The Cabinet on July 22 approved an 11 trillion won (US$9.7 billion) supplementary budget to fund the government’s economic stimulus measures. Along with the supplementary budget, the government plans to increase investment and spending by state-run companies and financial institutions to roll out economic stimulus measures to the scale of 28 trillion won. The supplementary budget will be submitted to the National Assembly on July 26. The bill will then be reviewed by concerned co
July 22, 2016
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Umbrella union stages all-out strike
[THE INVESTOR] Kia Motors’ union is joining in the umbrella union’s nationwide strike on July 22, amid accusations that its participation is illegal and politically motivated. The strike is led by the Korean Metal Workers’ Union, a subgroup within the hard-line Korean Confederation of Trade Unions, which counts unions of carmakers and shipbuilders among its members. Hyundai Motor Group`s headquarters buildings in Yanjae-dong, southern SeoulLabor unions belonging to the Metal Workers’ Union will
IndustryJuly 22, 2016
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Samsung Electro-Mechanics to invest W263b in chip technology
[THE INVESTOR] Electronic components firm Samsung Electro-Mechanics said on July 22 that it would invest 263.2 billion won (US$231.90 million) in beefing up its capability in chip packaging, an encapsulation process aimed at preventing erosion and damage.The investment amount accounts for 6.1 percent of the firm’s equity. Through the investment, Samsung Electro-Mechanics will develop the next-generation chip packaging facilities, which will be deployed at Samsung Display’s manufacturing complex
TechnologyJuly 22, 2016
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Taihan Electric Wire relaunches in Vietnam as Taihan Cable Vina
[THE INVESTOR] Taihan Electric Wire has taken over a joint venture in Vietnam and launched it as a new entity in the country, the company said on July 22.The firm said the move reflected its efforts to expand its global reach. In 2005, Taihan Electric Wire had established Taihan Sacom Cable as a JV. It has now acquired the remaining 30 percent owned by another investor. Taihan said it plans to turn the new entity -- renamed as Taihan Cable Vina -- into a global firm. “We plan to increase annual
IndustryJuly 22, 2016