Most Popular
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[Exclusive] Democratic Party of Korea forms US election task force
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Seoul seeks to improve foreign nanny program after two abscond
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[Grace Kao] NewJeans fights Hybe for their survival
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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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Samsung, top banks to create W2tr green growth fund for SMEs
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Malnutrition cases nearly triple in last 5 years
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KFA Chair denies unfair hiring of national coach
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An increasing number of K-pop idols are breaking free from big agencies. Why?
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Couple welcoming quintuplets to receive over W170m in childbirth grants
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Korean automakers pressured to diversify supply chains as US bans Chinese tech
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ASEM culture ministers' meeting closes with chairman's statement
Culture ministers from the Asia-Europe Meeting countries adopted a chairman's statement that calls for further international cooperation to nurture the creative industries on Friday, wrapping up their three-day meeting in Korea.The 7th Asia-Europe Culture Ministers' meeting took place at the Asia Culture Center, a state-run arts and concert venue in Gwangju, under the theme "culture and the creative economy." It was attended by some 160 delegates from 45 ASEM member countries, including eight mi
Social AffairsJune 24, 2016
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S. Korea going all-out to stem fallout from Brexit
Korea on Friday said it will use all means to stabilize the local financial market following the unexpected result of the historic British referendum to leave the European Union.As the world's fifth-largest economy got ready to leave the 28-member economic bloc, South Korea's financial market suffered a severe setback. Vice Finance Minister Choi Sang-mok (center) speaks at an emergency meeting in Seoul to discuss the impact of the Brexit on June 24, 2016. (Yonhap)The benchmark KOSPI sank 3.09 pe
June 24, 2016
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Hanjin Shipping sells W60b of operating rights to secure liquidity
[THE INVESTOR] Hanjin Shipping sold 60 billion won ($51 million) worth of operating rights on Southeast Asian routes to its affiliate in order to secure liquidity, local news reported Friday. Citing an official from the shipping industry, the shipper sold part of its rights to Hanjin Transportation, which runs the land transport service under Hanjin Group, during an emergency meeting of the board. The move came after the government and creditors, led by the state-run Korea Development Bank, push
IndustryJune 24, 2016
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South Korea Gov’t promises tight response to Brexit
[THE INVESTOR] The government will roll out all possible measures in responding to the effects of Brexit, Vice Minister of Strategy and Finance Choi Sang-mok said on June 24. Speaking at an emergency meeting in Seoul, Choi said that a pan-government effort will be orchestrated to “minimize the negative effects” of UK leaving the European Union. Saying that the government will closely monitor the foreign exchange market, Choi said that the authorities will take steps to stabilize the market. Yoon
June 24, 2016
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Shareholders OK Ildong’s revamp plan
[THE INVESTOR] Shareholders of Ildong Pharmaceutical agreed on June 24 to transform the firm into a holding company with four entities under its wing.In its second attempt to become a holding firm, the Korean drug maker successfully gained approval to spin-off its four units as new entities, aiming to boost transparency of it corporate governance structure and stabilize management rights.“Through the spin-off, we will efficiently allocate resources business sectors and promote business activitie
IndustryJune 24, 2016
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[Photo News] Telecoms' cooperation to improve human life
KT chairman Hang Chang-gyu speaks about the need for cooperation among global telecommunication companies to develop new technologies that contribute to human life during the U.N. Global Compact Leaders Summit 2016 in New York on Thursday. (Yonhap)
TechnologyJune 24, 2016
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CJ E&M successfully taps into global showbiz
[THE INVESTOR] Korea’s leading media giant CJ E&M has been persistently pushing to tap into the global show business to develop a new business model.And “Kinky Boots,” a Broadway musical, is one of its latest and most successful efforts. CJ E&M, which has participated in the production of the musical since 2012, is responsible for bringing the energetic stage performance to the Asian markets including China and Korea. A scene from Kinky Boots.“As a co-producer of ‘Kinky Boots,’ CJ E&M was able t
IndustryJune 24, 2016
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UHD TVs outstrip full HD TVs in global market
The global sales of ultra-high-definition TVs worldwide has exceeded those of full HD ones, an industry tracker said Friday.According to the data compiled by IHS, the market share of UHD TVs, also known as 4K TVs, jumped to 47.3 percent in the second quarter of this year from 42.1 percent in the previous quarter.In contrast, that of full HD TVs declined from 42.9 percent to 38.7 percent over the cited period. IHS predicted that the gap will further widen in the third quarter with UHD TVs expecte
TechnologyJune 24, 2016