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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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Naver to nurture ‘next LINE’
[THE INVESTOR] South Korea’s Internet giant Naver said it would try to increase its global presence with its mobile services, including the webtoon platform, Snow, a Snapchat-like app, and V-App, a video streaming service focused on Korean pop culture.“The webtoon, Snow and V-App services have made remarkable achievement so far in the global market,” said Kim Sang-hun, CEO of the Pangyo-based company, in the second-quarter conference call on July 28.“If the company pushes further together with i
TechnologyJuly 28, 2016
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Hyundai Mobis to invest W643b in Hyundai Motor’s new HQ
[THE INVESTOR] Hyundai Mobis, the auto parts unit of Hyundai Motor Group, will invest 643 billion won (US$571.53 million) to build the auto conglomerate’s new headquarters -- Hyundai Global Business Center -- in Southern Seoul, the company said in a regulatory filing on July 28. Hyundai Global Business Center to be built in Samseong-dong, Seoul. Hyundai Motor GroupHyundai Motor Group is planning to erect a 105-story skyscraper in Samseong-dong area of Seoul, on a plot purchased from state-run K
MobilityJuly 28, 2016
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Capital gains tax on stock sales to be widened from April 2018
[THE INVESTOR] The capital gains tax on profits reaped from sale of stocks will be levied on a wider range of shareholders as the government pushes to subject all stock sales to taxation. According to the tax revision announced on July 28, capital gains tax will be levied on individuals who hold 1.5 billion won (US$1.33 million) or more of an individual company’s shares from April 2018. Both Kospi- and Kosdaq-listed stocks will be subjected to the same limit. At present, only those who hold more
July 28, 2016
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Constitutional Court subjects journalists, private school faculty to new anti-graft law
[THE INVESTOR] The constitutional court of South Korea on July 28 ruled that a controversial anti-graft law set to be implemented later this year is “constitutional” to subject journalists and private school teachers to the legislation.The court also ruled that it was constitutional for the new law to place a limit on the goods and services that these individuals may be treated to. 123rfThe law currently stipulates a maximum penalty of three years or more in prison, or fines of five times the am
July 28, 2016
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Korea to widen tax credits to boost investment, consumption
South Korea set out new tax code revisions Thursday, seeking to boost corporate investments in new future industries and household income and spending to cope with faltering exports and flaccid domestic demand.The government finalized the plan at a meeting chaired by Finance Minister Yoo Il-ho in Seoul, and will submit the bill to the National Assembly by Sept. 2 for approval.It is expected that the new tax code, which includes streamlining tax regulations, will result in 317.1 billion won ($281
July 28, 2016
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Gov’t to offer tax break for hydrogen cars
[THE INVESTOR] The government announced July 28 it will provide up to 4 million won (US$ 3,557) tax reduction on hydrogen fuel cell vehicles until the end of 2019. Hyundai Motor`s fuel-cell Tucson ixThe measure included in the tax revision is aimed at boosting the country’s renewable energy businesses’ competitiveness. Until now, reduction in the 5 percent special consumption tax was only provided to electric vehicles and hybrid vehicles. For hybrid vehicles, the tax was cut by up to 1 million w
IndustryJuly 28, 2016
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LS Networks spins off Skechers
[THE INVESTOR] LS Networks will spin off its Skechers division, it announced on July 27. The new company, temporarily named Skechers Korea, will remain private and be solely devoted to import, distribution and sales of Skechers, a US footwear brand.The consumer goods affiliate of LS Group will remain a public company and continue the rest of its businesses including managing brands such as Prospecs and Mont-Bell, as well as trade and real estate lease. The due date for the physical division is S
IndustryJuly 28, 2016