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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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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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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Mirae Asset’s overseas bond fund grows popular
The overseas bond fund managed by Korea’s leading Mirae Asset Financial Group is drawing attention amid the prolonged global economic slowdown, group officials said Tuesday.Mirae Asset’s Global Dynamic Fund is an overseas bond fund that distributes investors’ money to gilt-edged securities from developed and developing countries. Through a globally spread research network, the product makes money from company stocks and mortgage backed securities to high yield bonds and mortgage funds, the compa
IndustryAug. 30, 2016
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Top court rules Samsung not liable for worker's leukemia death
South Korea's top court on Tuesday upheld a ruling by a lower court that South Korean tech giant Samsung Electronics Co. is not to blame for the leukemia death of one of its former employees at a chipmaking facility, citing a lack of evidence.In 2010, five people, including three bereaved family members of the three Samsung employees who died of leukemia after working at its semiconductor production lines, filed a suit with the Seoul Administrative Court to nullify the Korea Workers' Compensatio
Social AffairsAug. 30, 2016
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[DECODED] Founder’s era continues at Celltrion
Celltrion founder and CEO Seo Jung-jin stepped aside for more professional management of his phenomenally successful bio venture last year, but few in Korea think his era is over.The 59-year-old entrepreneur, who started the pharmaceutical firm in 2002 with 50 million won ($44,400) and very little prior knowledge of drugs, still has a firm grip on the business through personal holdings of company stocks and a team of close confidants among top management. “Celltrion shares are widely dispersed.
IndustryAug. 30, 2016
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Hanjin Shipping teeters on verge of court receivership
The creditors of Hanjin Shipping on Tuesday decided not to extend their financial support to the cash-strapped shipping line, raising the prospect of Korea’s top shipper filing for court receivership. The creditors led by the Korea Development Bank reached a unilateral agreement to reject a 500 billion won ($447 million) self-rescue plan submitted by Hanjin last week, calling it insufficient. With the decision, the creditors-led debt restructuring scheme, initiated in May, will end as planned on
Aug. 30, 2016
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KKR picks former LG man for Korea operations
One of KKR’s largest and most profitable investments was bottled beers produced by Korean Oriental Brewery. (Yonhap)US-based private equity fund KKR is hiring a former LG Electronics executive to run its Korea operations in a bid to ramp up its investments in Asia. Lim Hyoung-seok, a veteran consultant in investment and management solutions currently running Compass LKL in London, has been named as managing director of KKR Korea, the KKR Group announced on Tuesday. He will join Park Chung-ho, cu
Aug. 30, 2016
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Korea’s 2017 budget to focus on welfare, jobs
The South Korean government will increase its spending to 400.7 trillion won next year, up 3.7 percent from this year, with a primary focus on boosting social welfare and creating jobs through fiscal stimulus, the Finance Ministry said Tuesday.This marks the first time for the national budget to exceed 400 trillion won with about one-third of it allocated to spending on welfare, or 130 trillion won, the highest. Of 130 trillion won allocated to social welfare, the budget includes spending 17.5 t
Aug. 30, 2016
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Samsung, LG vie for biometric authentication
South Korea’s two leading information technology service providers Samsung SDS and LG CNS are vying for leadership in biometric authentication solutions. LG CNS recently said that it would apply the finger vein authentication solutions of LG Hitachi -- a joint venture between LG Group and Japan’s Hitachi -- to BNK Busan Bank’s automatic teller machines as a pilot service. The finger vein authentication solution, which was applied for the first time to automatic teller machines in South Korea, i
TechnologyAug. 30, 2016
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[Foreigners Who Loved Korea] Liu Yongyao, Chinese general who supported Korean independence
Liu Yongyao played many roles as a soldier, professor, and politician of the Republic of China. He helped the Provisional Government of the Republic of Korea in Chongqing receive recognition from the Nationalist government of China and actively supported the Korean independence movement in areas such as diplomacy, politics, economy, military and culture. Building skills in the military academyLiu Yongyao, also known by the courtesy name Zhezhi and the pen name Wukun, was born in Yaojiaga Village
CultureAug. 30, 2016
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[Graphic News] Korea to build network of smart expressways by 2020
The Transport Ministry plans to build a network of smart expressways that will include new sections of road where electric vehicles can be charged on the go, officials said Tuesday.Under the plan, the government will build an additional 1,000 kilometers of expressway, extending the total length in the country to 5,131 kilometers by 2020. This will create a complete network in which nearly 96 percent of the country’s population will be able to access an expressway within 30 minutes from their hom
Aug. 30, 2016