Most Popular
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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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College is expensive? In S. Korea, English preschools cost much more
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[Hello India] Hyundai Motor inches closer to IPO in India
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[Exclusive] Texas development exec shuts down layoff rumors at Samsung chip plant
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Panel decision put prosecution in dilemma over Dior bag case
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'Gyeongseong Creature Season 2': faster and ready to confront past
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2025 Trend Forecast: Small details, new happiness trend amid sluggish economy
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Korea to face another massive shortfall in tax revenue
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Unemployment rate in South Korea fell to 3.7% in May
[THE INVESTOR] Although the youth unemployment rate in South Korea remains high, it fell slightly in May, with a rise in employment in the health and accommodation industry, according to a government report on June 15. According to the report by Statistics Korea, the fourth-largest economy in Asia had a jobless rate of 3.7 percent last month, compared to 3.9 percent in April. The seasonally adjusted unemployment rate remained flat at 3.7 percent in May. Job creation soared compared to the previo
June 15, 2016
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Seoul fails to make MSCI cut
[THE INVESTOR] South Korea failed to put its stock market back on Morgan Stanley Capital International review list of developed market index candidates after failing to accept requirements from the widely followed global index provider, the financial regulator said Wednesday. MSCI cited the absence of an around-the-clock market to exchange Korean won with other currencies and delays in Seoul‘s packages of financial reforms that will take effect after 2017, as some of the main reasons, the Financ
June 15, 2016
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Hyundai Steel says no plans for 4th furnace at Dangjin plant
[THE INVESTOR] Hyundai Steel Co. is not reviewing plans to build another furnace at its Dangjin Steel Mill, the company said June 15. A local daily had reported that the company was reviewing plans to build another furnace, and that the plans could be put into action within two or three years. Citing unnamed Hyundai Steel officials, the report claimed that the related plans were under review due to the maintenance needs of the existing three furnaces.Hyundai Steel Co.An official with the company
June 15, 2016
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Seoul bourse opens lower on pending Fed decision
[THE INVESTOR] South Korean shares opened lower June 15 in light of growing “Brexit” rumors and investors adopting an uncertain attitude while waiting for the decision on rates by the U.S. Federal Reserve. The benchmark Korea Composite Stock Price Index slid down by 0.87 point, or 0.04 percent, to 1,970.16 in the first 15 minutes of trading. As decision on the U.S rate has been inching toward finalization since June 14, investors are keen on receiving more information on the matter. 123rf.Marke
June 15, 2016
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Seoul rejects some MSCI requirements
[THE INVESTOR] South Korean government authorities have rejected some of the requirements issued by Morgan Stanley Capital International Inc. for joining its list of developed market index candidates.“Requests, such as operating an around-the-clock market to exchange Korean won is going to be tough,” said FSC Vice Chairman Jeong Eun-bo. “This is owing to Korea’s high reliance on exports, making market stability an important factor.” On June 14, MSCI said the Seoul bourse had failed to make it to
June 15, 2016
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Samsung’s flagship Galaxy Note to finally have iris scanner
[THE INVESTOR] Korean camera module maker Patron will reportedly be supplying its iris camera modules for Samsung Electronics’ next premium smartphone model, presumably the Galaxy Note 7, according to news reports on June 15.The Korean camera module firm reportedly won a bid months ago to supply the entire volume of biometric modules needed for the upcoming smartphone, which is expected to be unveiled on Aug. 2 in New York City. Samsung’s flagship Galaxy Note 5Some of renderings of the smartp
TechnologyJune 15, 2016
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Seoul bourse opens lower on pending Fed decision
[THE INVESTOR] South Korean shares opened lower June 15 in light of growing “Brexit” rumors and investors adopting an uncertain attitude while waiting for the decision on rates by the U.S. Federal Reserve. The benchmark Korea Composite Stock Price Index slid down by 0.87 point, or 0.04 percent, to 1,970.16 in the first 15 minutes of trading. As decision on the U.S rate has been inching toward finalization since June 14, investors are keen on receiving more information on the matter. (Yonhap)Mark
June 15, 2016
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Korean archer ties world record
South Korean archer Choi Mi-sun has tied a world record in women's recurve in the run-up to the Rio de Janeiro Summer, brightening the prospects for her first Olympic medal. (Yonhap)Choi scored 686 out of a possible 720 in the individual qualification round at the Archery World Cup in Antalya, Turkey, on Tuesday (local time). Choi's score equaled the record set by fellow South Korean Ki Bo-bae at last year's Summer Universiade in Gwangju, 350 kilometers south of Seoul.Ki, also in action in Turke
More SportsJune 15, 2016
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China beef up security inspection along border with N. Korea: report
Chinese troops have been stepping up security inspections along the border with North Korea in what seems to be a move to check up on tourists visiting certain sensitive regions, a U.S.-based media outlet said Wednesday.An ethnic Korean source in Tumen, China, told Radio Free Asia that Chinese soldiers on border garrison have been reinforcing their security checks after North Korea vowed to retaliate against South Korea for the recent mass defection of North Koreans to the South.In April, 13 Nor
North KoreaJune 15, 2016
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Samsung denies rumors of investment plan for 3D NAND memory
[THE INVESTOR] Tech giant Samsung Electronics on Wednesday officially denied news reports on its investment plans for high-end memory chip production lines.The announcement comes after Korean news media reported that the semiconductor company is planning to invest around 25 trillion won ($21.2 billion)--some claimed 2.5 trillion won-- to beef up its production lines for 3D NAND flash memory in Hwaseong, Gyeonggi Province. “The company has not set detailed plans for the investment as the 3D NAND
TechnologyJune 15, 2016
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THAAD was not issue during talks with Lavrov: Korean FM
South Korea's foreign minister said he barely discussed the controversial issue of deploying an advanced U.S. missile defense system on Korean soil during talks with his Russian counterpart earlier this week.Yun Byung-se told South Korean reporters and foreign ministry officials during a luncheon in St. Petersburg on Tuesday that the topic of the Terminal High Altitude Area Defense system was raised in his meeting with Sergey Lavrov but only in passing."(The Russian side) mentioned a confrontati
DefenseJune 15, 2016
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Global startup 'gateway' opens at Pangyo campus
South Korea opened a "global business support center" on Wednesday in the Pangyo Startup Campus, the nation's new hub for digital business startups.The center will serve as a "gateway" for local startups to meet foreign investors and launch operations abroad, said the Ministry of Science, ICT and Future Planning.It is tasked with establishing a database of information related to startups here and provide potential overseas investors with this information.It will forge partnerships with foreign a
IndustryJune 15, 2016
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Samsung Heavy plans drastic labor cut by 2018
[THE INVESTOR] Samsung Heavy Industries Co. will cut its workforce by up to 40 percent by 2018 as part of restructuring plans, its CEO Park Dae-young revealed on June 15. At present, the company’s regular workforce stands at about 13,000 workers. Speaking on the company’s internal broadcasting network, Park said that between 30 to 40 percent of the workforce will be cut by the end of 2018. He also said that the company will begin a voluntary redundancy campaign this year aiming to cut the workfo
June 15, 2016
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Korea extends trade surplus streak to 52 months
South Korea posted its 52nd consecutive trade surplus in May as a sharp drop in imports outpaced a fall in exports, customs data showed Wednesday.The country's trade surplus came to US$6.98 billion last month, down from $8.8 billion in the previous month, according to the data from the Korea Customs Service.The May figure marked an 11-percent on-year rise from $6.29 billion tallied in the same month a year earlier, extending its streak to 52 months.But the amount of trade surplus fell for three
June 15, 2016
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Seoul fails to rejoin MSCI's developed-market review list
South Korea failed to put its stock market back on MSCI Inc.'s review list of developed market index candidates due to a lack of financial reforms required by the widely followed global index provider, the financial regulator said Wednesday. MSCI, or Morgan Stanley Capital International, cited the absence of an around-the-clock market to exchange Korean won with other currencies and delays in Seoul's packages of financial reforms that will take effect after 2017, as some of the main reasons, the
June 15, 2016
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Scottish coach sacked by Seoul football club
Martin Rennie, former head coach of the Vancouver Whitecaps in Major League Soccer (MLS), was sacked by a South Korean second-tier club on Wednesday.Seoul E-Land FC announced that Rennie will be released from his contract by mutual agreement. The 41-year-old Scot became the club's first-ever head coach when he joined the K League Challenge side in July 2014. He is also the first foreigner to manage a second division pro club in South Korea. (Yonhap)"Seoul E-Land FC thank Martin Rennie for leadin
SoccerJune 15, 2016