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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Sungjoo Group seeks to make MCM 'new school luxury' brand
Korean fashion giant Sungjoo Corp., which owns and runs German luxury bag brand MCM, on Friday said it will adopt the latest technology to create an innovative fashion code and lead the new luxury trend. "We will combine technology and fashion to create the new framework in the luxury market," Sungjoo Group said in the newly published book, titled "The Story of Sungjoo." Sungjoo Group is a fashion retail group that operates franchise stores for leading British retail group Marks & Spencer, Yves
TechnologyJune 24, 2016
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Korea revises down growth outlook to 2.8 percent
[THE INVESTOR] Korea has revised its annual economic growth rate outlook for 2016 to 2.8 percent from the previous 3.1 percent, the government said on Friday.During a meeting with the ruling Saenuri Party, government policymakers said growth is expected to slow in the second half of 2016. “If the second-half economic policy plan is executed as Finance Minister Yoo Il-ho at a meeting with the ruling Saenuri Party (Park Hae-mook/The Investor)expected, this year’s growth will decrease from (the) i
June 24, 2016
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Korea’s dependence on China poses risks and opportunities
[THE INVESTOR] Korea’s high economic dependence on China is a double-edged sword, a report said on Friday.In a report titled “China’s choice,” the McKinsey Global Institute ranked Korea fourth in the world in terms of economic dependence on China. According to the report, Korea is fourth in the world in terms of the proportion of gross domestic product raised from exports to China. Oman showed the highest dependence followed by Angola and Malaysia. Korea’s economy is highly trade reliant. About
June 24, 2016
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K-ITC Born2Global Center and its Members ④ Twinword
Big data start-up Twinword announced Tuesday that it would unveil its key word research platform “Twinword SEO” next month. Key word research is a marketing technique that uses big data to identify and analyze words associated with a particular search term. The objective is to find the best words to use in the introduction of a product or company in order to achieve the highest rankings possible on Internet search engines.Twinword is a venture company that collects, analyzes and utilizes big dat
TechnologyJune 24, 2016
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Prosecutors indict former Nature Republic head
Prosecutors on Friday indicted Jung Woon-ho, former head of local cosmetics brand Nature Republic, on charges of dereliction of duty and embezzlement, as they accelerated their probe into a high-profile lobbying scandal.The Seoul Central District Prosecutors' Office filed the charges against the disgraced businessman for having misappropriated some 1.8 billion won ($1.55 million) from the cosmetics firm and 9 billion won from an affiliate of the firm between January and February last year.Jung h
IndustryJune 24, 2016
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CJ E&M reaps reward from investing in Broadway musical 'Kinky Boots'
CJ E&M, Korea's leading entertainment company, said Friday it has generated $200 million in sales from investing in the hit Broadway musical "Kinky Boots" even before its opening.In 2012, the Seoul-based company became a co-producer of the show that tells the story of a man who latches onto the niche market of making boots for transvestites after inheriting a failing shoe business from his father.The company provided 7.4 percent of the $13.5 million necessary to jump-start the musical adaptation
EntertainmentJune 24, 2016
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Cell Biotech renews halal certificate
[THE INVESTOR] Korean pharma company Cell Biotech renewed its halal certification for probiotic products from the Korea Muslim Federation, the company said on June 24. The company has received the approval for 13 years in a row since 2004. Cell Biotech“Through the halal certificate, we have been able to import probiotics products to Southeast Asia’s largest Muslim country Indonesia and also Malaysia and Singapore,” a company official said. “From 2000, we have also passed kosher certification.”B
IndustryJune 24, 2016
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Britain on course to leave EU
Britain has voted to break out of the European Union, national media declared Friday, striking a thunderous blow against the bloc and spreading panic through world markets as sterling collapsed to a 31-year low.Investors scrambled to sell the pound, oil and stocks as Britain took a lurch into the unknown, becoming the first country to quit in the EU's 60-year history, a culmination of decades of suspicion over European aims of creating an ever-closer political union.With results in for 350 of th
World NewsJune 24, 2016
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Korea's financial market stung by Brexit rout
Korea's financial market was roiled Friday by Britain's exit from the European Union, with the local stock market plunging over 3 percent and the local currency nosediving.The country's benchmark Korea Composite Stock Price Index shed 66.62 points, or 3.35 percent, to 1,918.58 as of 2:00 p.m. From a session earlier, the Korean won fell 29.00 won, or 2.5 percent, against the U.S. dollar to trade at 1,170.05 won. The main index turned lower on Friday morning as early vote results on Britain's EU m
June 24, 2016
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Korean investments in Chinese stocks down
[THE INVESTOR] The total transactions of Chinese shares by Koreans dropped by 81.7 percent to US$510,000 this year through June 21 from US$4.14 million a year earlier, the Korea Securities Depository said June 24. China’s stock market was hammered earlier this year due to concerns about its slowing economy. After suffering heavy losses from their investments in Chinese shares, Korea’s retail investors withdrew some of their assets to avoid further losses. Korean investors poured a total of $4.29
June 24, 2016
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Korean economic, financial authorities to discuss Brexit fallout
Korea's economic and financial authorities held an emergency meeting Friday to discuss ways to fend off any possible fallout from the British withdrawal from the European Union.Vice Finance Minister Choi Sang-mok presided over the meeting, with other officials from the Financial Services Commission, the Bank of Korea and the Financial Supervisory Commission attending. The BOK also held a separate meeting to discuss ways to calm the financial market.In the morning, the vice minister said the Sout
June 24, 2016