Most Popular
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Middle East’s big AI push lures Korean tech firms
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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[Exclusive] Democratic Party of Korea forms US election task force
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Grace Kao] NewJeans fights Hybe for their survival
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NK nuclear test 'possible' around US election in Nov., says Yoon aide
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[News Focus] Ex-Moon aide slammed from both sides over remarks on leaving Koreas divided
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What will Yoon, Han talk about at dinner?
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Pokemon Go takes South Korea by storm
[THE INVESTOR] The global craze for Pokemon Go, Japanese game developer Nintendo’s augmented-reality smartphone game, has taken the nation by storm with downloads exceeding 400,000 as of July 13, according to a survey by market research firm WiseApp. The survey result is based on 14,439 Android phone users in Korea from July 7-13. The mobile game, which has not been officially launched here, achieved the feat in less than two weeks since its release in other parts of the world on July 5, includi
TechnologyJuly 14, 2016
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NPS seeks damages from DSME
[THE INVESTOR] National Pension Service has filed a 48.9 billion won (US$ 43 million) compensation suit against Daewoo Shipbuilding and Marine Engineering, it was revealed on July 14.The NPS said that it has filed a suit against 10 Deloitte Anjin, and DSME executives. It did not elaborate on how the amount was calculated. The prosecution investigating corruption at the shipbuilder estimates that DSME’s mismanagement led to the country’s financial industry sustaining more than 10 trillion won in
July 14, 2016
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Netmarble striking M&As ahead of upcoming IPO
[THE INVESTOR] South Korean mobile game developer Netmarble Games’ recent bid to acquire Israel-based mobile gaming company Playtika is just one of a string of merger and acquisition deals that Netmarble has been pursuing to attract investors. By the end of this year, Netmarble Games is set to issue an initial public offering to draw at least 5 trillion won ($4.36 billion). Netmarble founder Bang Joon-hyukBased in Tel Aviv, Playtika is an affiliate of Caesars Interactive Entertainment -- an SNS
TechnologyJuly 14, 2016
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Ikea refuses to recall dangerous dressers here
Furniture-maker Ikea is facing public outcry over its refusal to recall dressers that have been linked to six deaths in North America from its Korean stores, despite recalling the line from its stores in the U.S. and Canada.The problematic Malm dressers are still available for purchase in Korean Ikea stores. Roughly 40,000 of them have been sold in Korea since they were first released in December 2014.The dressers must be firmly attached to the wall before being used to prevent them from tipping
IndustryJuly 14, 2016
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Samsung heir, IBM CEO meet on possible partnership
[THE INVESTOR] Samsung Electronics vice chairman Lee Jae-yong and IBM CEO Virginia Rometty had a private meeting last week during the annual Sun Valley Conference in Idaho, it was confirmed on July 14. The high-profile meeting has drawn keen interest among industry watchers here as it could hint at a possible partnership between the two tech giants. Daily Mail homepageSamsung has recently been making a big push to elevate its software prowess. Sources predict Samsung could seek to share IBM’s so
TechnologyJuly 14, 2016
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Shares keep upward trend on foreign buying
South Korean shares extended a winning streak into a fourth day on Thursday, paring early losses, as foreigners stuck to a buying mode. The South Korean won rose sharply against the U.S. dollar after the nation‘s central bank froze the key interest rate at the record low of 1.25 percent.The benchmark Korea Composite Stock Price Index added 3.22 points, or 0.16 percent, to 2,008.77.Trade volume recorded 334.3 million shares worth 4.2 trillion won ($3.7 billion), with decliners outnumbering advanc
July 14, 2016
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BOK cuts growth forecast to 2.7%
The Bank of Korea on Thursday revised down its growth forecast from 2.8 percent to 2.7 percent this year, and kept its record low interest rate steady at 1.25 percent as expected, saying that its monetary policy was already accommodative enough to support the government’s planned fiscal stimulus.The central bank’s rate policy decision was unanimous, and BOK Gov. Lee Ju-yeol sided with Finance Minister Yoo Il-ho on views that without monetary easing and fiscal stimulus, the country’s growth would
July 14, 2016
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S-Oil teams up with students to protect endangered animals
Oil refining giant S-Oil has selected a group of university students to protect endangered animals, officials from the company said Wednesday.The company held a ceremony for 40 students tasked with the mission. They will go on a camp for three days to learn about the endangered animals’ habitats and conduct ecological research, the officials said.Students receive certificates that recognize them as S-Oil’s endangered animal protectors. (S-Oil)In 2008, S-Oil signed a memorandum of understanding w
IndustryJuly 14, 2016
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Soju production hits record high in 2016
The production of soju has hit a record high this year, surpassing 581,000 kiloliters from January to May, data showed Thursday.According to Statistics Korea, soju production rose 0.4 percent on-year to reach 581,563 kiloliters. This is equivalent to nearly 30 bottles of soju per Korean person.The number includes different variations on soju, such as those infused with fruit flavors.The spike in soju production is attributed by many industry watchers to a sluggish economy. Soju is one of the che
IndustryJuly 14, 2016
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[EQUITIES] Hyundai Securities forecasts record-breaking Q2 earnings for Hansol Chemical
[THE INVESTOR] Hyundai Securities has forecast that Hansol Chemical will post record-high earnings in the second quarter of this year.Operating profit was projected to rise 56 percent on-year to 21.4 billion won (US$ 18.66 million), while sales will rise 15 percent to 1.05 billion won. Consequently, the quarterly operating profit rate was estimated to reach 20.1 percent, which was more than double the 9.4 percent average rate over the past five years, according to the brokerage. The biggest driv
July 14, 2016
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Korea to tighten asbestos controls
[THE INVESTOR] The government is set to strengthen the management of buildings with asbestos during their dismantling and reconstruction process to minimize health risks from exposure to the material. Asbestos were widely used in 1970s to build slate roofs, interior materials, soundproof walls and insulators at low costs. Asbestos is defined as a carcinogen by the World Health Organization, as exposure to worn out asbestos materials can cause diseases such as lung cancers and mesothelioma.The re
July 14, 2016
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Celltrion’s Remsima bolsters presence in Europe
[THE INVESTOR] South Korean biopharmaceutical company Celltrion has increased its market presence in Europe with biosimilar Remsima, the company said on July 14. Celltrion’s Remsima -- biosimilar replication of the world’s third best-selling rheumatoid arthritis treatment drug Remicade, or Infliximab -- has captured a 30 percent share of the overall Infliximab market in Europe, according to IMS Health, a market data provider. Celltrion's biosimilar RemsimaThe latecomer Remsima began selling in E
IndustryJuly 14, 2016