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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NewJeans has few options after Ador rejects group's request to reinstate Min Hee-jin as CEO
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[Grace Kao] NewJeans fights Hybe for their survival
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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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An increasing number of K-pop idols are breaking free from big agencies. Why?
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KFA Chair denies unfair hiring of national coach
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Couple welcoming quintuplets to receive over W170m in childbirth grants
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College is expensive? In S. Korea, English preschools cost much more
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Resources development policy hobbled by inconsistency
Resources development policy hobbled by inconsistencyBy Kim Kyung-ho Korea relies on imports for 96 percent of primary energy sources and 99 percent of key mineral resources. In the 2015 Energy Sustainability Index released by the World Energy Council, the country ranked 121st, far behind China and Japan, which placed Nos. 21 and 83, respectively.This means that Korea needs to implement a consistent, efficient and long-term policy for developing resources abroad. But it has failed to do so over
June 22, 2016
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Korea, U.S. conduct joint helicopter attack drill
South Korea and the United States on Wednesday conducted a joint helicopter attack exercise in an effort to test their combat readiness to counter North Korean provocations, the military said Wednesday.The joint drill mobilized the allies' military assets including the South Korean Army's Cobra (AH-1S) helicopters and Apache helicopters used by the U.S. Army's 2nd Infantry Division. "The two nations were able to identify their ability to work closely together," the South's Army said. "The drill
North KoreaJune 22, 2016
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Hyundai Samho completes Panama Canal contract
[THE INVESTOR] Hyundai Samho Heavy Industries announced on June 22 that its US$210 million Panama Canal contract has been completed. In 2010, Hyundai Heavy won the contract to build and install 158 small floodgates and 158 sets of hydraulic systems for the Panama Canal expansion project. An aireal view of the Panama Canal. Panama Canal AuthorityThe US$5.25 billion project will increase Panamax by a factor of about 1.5. The expansion project is set for completion on June 26. By Choi He-suk (chees
June 22, 2016
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LG International’s Q2 operating profit to surge 48%: report
[THE INVESTOR] LG International, a trading arm of LG Group, will post improved second quarter earnings, local brokerage firm NH Investment & Securities said on June 22 while maintaining its “buy” rating. According to the securities firm, LG International’s Q2 operating profit is projected to jump 48 percent on year to 44.9 billion won (US$38.8 million). “The market condition for LG International’s resource development business is improving as copper and coal prices have remained at the previous
June 22, 2016
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[DECODED] Shin Dong-bin’s ‘Global Lotte’ in jeopardy
The year 2016 had been set to become a major turning point for Lotte chairman Shin Dong-bin to build up a “Global Lotte.”From the much-anticipated initial public offering of its hotel unit to a flurry of new mergers and acquisitions to be set in motion, the country’s fifth-largest conglomerate had been on track to fulfill its ambition to expand its business empire beyond its domestic boundaries.Yet, all came tumbling down on June 10. Seoul prosecutors kicked off a record-scale probe into the cou
IndustryJune 22, 2016
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Pantech showcases new 'IM-100' smartphone
[THE INVESTOR] Pantech, one of top three mobile phone manufacturers in Korea, showcased its new smartphone IM-100 on June 22 at its R&D center in Seoul, unveiling its ambition to recover lost ground.IM-100 -- pronounced as “I am back” with the number pronounced “back” in Korean -– will begin sales starting next week. Pursuing minimal design, the company excluded its logo on the new mobile phone, which comes in two options: white or black. The 7-millimeter-thick mobile phone incorporates a wheel
TechnologyJune 22, 2016
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BOK chief to attend BIS general assembly
[THE INVESTOR] The head of South Korea‘s central bank will visit Basel, Switzerland this week for the annual general assembly of the Bank for International Settlements, the Bank of Korea said on June 22. BOK Gov. Lee Ju-yeol will depart on June 23 to attend the 86th BIS General Assembly to be held over the weekend.BOK governor Lee Ju-yeolWhile in Basel, the South Korean top central banker will also attend the BIS Global Economy Meeting and the Meeting of the Asian Consultative Council where he w
June 22, 2016
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Lotte probe bodes ill for Korea’s M&A market
[THE INVESTOR] The ongoing investigation into Lotte Group could deal a significant blow to Korea’s M&A market, finance industry sources say. Lotte Group has come under scrutiny over alleged corruption that runs to the very top, effectively putting all major plans on hold. With Lotte being one of the biggest players in M&As, concerns are growing that the market will feel a major pinch. 123rf.According to finance industry data, Lotte Group spent more than 7.6 trillion won (US$6.57 billion) to tak
June 22, 2016
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BOK governor says uncertainties will grow in 2H
[THE INVESTOR] Bank of Korea Gov. Lee Ju-yeol said on June 22 that the Korean economy is expected to see increasing external and internal uncertainties in the second half of the year. He pointed out that the UK’s referendum result on Britain’s exit from the European Union could further spur volatility in global financial market, during a meeting with economic experts held at the central bank’s headquarters in Seoul. Bank of Kora Gov. Lee Ju-yeol. The InvestorLee also expressed concerns that the
June 22, 2016
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Green Cross Labcell, ST Pharm to go public
[THE INVESTOR] Korean pharma companies Green Cross Labcell and ST Pharm will list on the secondary bourse KOSDAQ on June 23, the Korea Exchange announced on June 22. Green Cross Labcell, a Green Cross affiliate that develops drugs for incurable diseases, posted 34.5 billion won (US $29.8 million) in sales and operating profit of 2.3 billion won last year. The initial public offering is priced at 18,500 won. ST Pharm, launched in 2008, recorded 138 billion won in sales and 25.2 billion won in ope
June 22, 2016
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Korean M&A market sings the blues over Lotte probe
South Korea's mergers and acquisitions market is expected to take a hit from the ongoing prosecution probe into Lotte Group over alleged slush funds as it has been a big player over the past years under the stewardship of a hard-charging chairman, industry watchers said Wednesday.Since the prosecution opened an investigation into the group's alleged embezzlement and slush fund creation earlier this month, investigators have raided Lotte headquarters, affiliates and houses of senior executives tw
June 22, 2016