Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Most teen sex offenders get away with slap on wrist
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Ex-Trump official calls for S. Korea to raise defense spending to 3 or 3.5% of GDP
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Thousands rally in Seoul to call for Yoon resignation
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Same-sex couple denied insurance clearance despite landmark ruling
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Panmunjom tours for select Korean nationals may resume in October
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Young Poong says no better offer for Korea Zinc
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[Hiroshi Mikitani] Japan’s new business language
Five years ago, I stood before several thousand mostly native Japanese speakers and addressed them in English. From now on, I told them, Rakuten -- Japan’s largest online marketplace, of which I am CEO -- would conduct all of its business, from official meetings to internal emails, in English. I still remember the shocked expressions on listeners’ faces.Their reaction was certainly understandable. No major Japanese company had ever changed its official language. But the simple fact is that adopt
ViewpointsApril 25, 2016
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[Editorial] Overdue reform
Every economy faces the challenge of realigning its industries in order to nurture new growth engines and weed out nonviable or underperforming sectors. No economy faces the challenge as urgently and acutely as the Korean economy does now.It is welcome that the government has decided to push what it calls “industrial reform” to foster the competitiveness of the Korean economy.Deputy Prime Minister Yoo Il-ho said last week the reform will have two tracks -- one to develop new industries and the o
EditorialApril 25, 2016
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[Editorial] Find the truth
The growing allegations of suspicious ties between a right-wing civic group and the nation’s largest business lobby is raising the specter of a major political scandal as they have already spread to President Park Geun-hye’s Blue House.At the heart of the case are allegations that the Federation of Korean Industries provided funds to the Korea Parent Federation -- a group of ultraconservative senior citizens -- and that the FKI and the Blue House used the KPF to orchestrate pro-government, pro-b
EditorialApril 25, 2016
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[Edward Niedermeyer] VW‘s diesel crisis is now a global threat
If Volkswagen was hoping its $10 billion buyback settlement with U.S. officials would bring some closure to months of hand-wringing over diesel emissions, its timing couldn’t have been worse. A flood of news over the past week showed that what was once a single company‘s scandal has grown into a global regulatory crisis. As world leaders gathered in New York to sign the Paris climate accord on Friday, a cloud of doubt settled over one of the most hotly debated areas of environmental regulation.
ViewpointsApril 25, 2016
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Golfzon sponsors LPGA rookie Alison Lee
Golfzon, a leading Korean maker of golf simulators, said Monday it has signed a sponsorship agreement with LPGA rookie Alison Lee as part of efforts to strengthen its global marketing activities.Under the agreement, the firm will sponsor Lee for two years. She will wear apparel with the company logo at golf tournaments and attend events hosted by the company. Golfer Alison Lee (center) poses with Golfzon executive Tommy Lim (right) and Carrie Forsyth, head coach of the golf team at University o
IndustryApril 25, 2016
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N. Korea aims to build new 3,000-ton sub armed with 3 SLBMs: experts
North Korea may be in the process of developing a 3,000-ton submarine that can provide a stable platform to launch three submarine-launched ballistic missiles as the country is scurrying to enhance its nuclear delivery capability, military experts here said Monday.Local military observers said to meet such a goal, Pyongyang may move to test-fire SLBMs until it is confident in launching a missile that can fly as far as 2,000 kilometers, the experts also predicted.On Saturday, North Korea fired a
North KoreaApril 25, 2016
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[KOSDAQ Star] Loen to achieve solid growth this year: analysts
This is the eighth in a series of articles analyzing major companies by market capitalization traded on the tech-heavy KOSDAQ market. -- Ed.Loen Entertainment, operator of Korea’s top online music streaming service MelOn, is likely to achieve solid growth this year on the benefits from its tie-up with Kakao Corp., analysts said Monday. As of the end of March -- just two months since Kakao acquired a major stake in Loen -- MelOn had up to 3.65 million paid subscribers after adding 100,000 new sub
April 25, 2016
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Fate of Hanjin Shipping in hands of creditors
The fate of Korea’s two largest container carriers, which handle the bulk of Korea’s exports, now rests in the hands of creditors, after years of overcapacity and slowing trade globally led to a free fall in shipping prices.Hanjin Shipping, the nation’s No. 1 carrier by capacity, on Monday officially filed for creditor-led rehabilitation, becoming the second major shipping line to succumb to a mountain of debt this year. Along with the application for debt restructuring, the firm submitted a wri
IndustryApril 25, 2016
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Korean battery makers beef up Chinese production
Korean battery makers are beefing up production in China, the largest market for nascent yet lucrative electric vehicles. Samsung SDI, the battery-making unit of Samsung Group, will showcase a range of battery technologies, including quick-charging battery cells and pouch-type and cylindrical batteries, at the Auto China event that runs through May 4 in Beijing. Models pose with Samsung SDI’s batteries at the Auto China aotomotive exhibition in Beijing on Monday. (Samsung SDI)The company, which
TechnologyApril 25, 2016
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Korean carmakers go green, compact in Beijing show
Korean automakers will showcase mainly eco-friendly, hybrid and compact vehicles during the Beijing motor show that kicked off Monday, in an effort to capture greater market share in China. Hyundai Motor, the nation’s top carmaker, has unveiled concept car Verna and hybrid vehicle Ioniq at the Beijing International Automobile Exhibition. Hyundai Motor’s concept Verna (Hyundai Motor)“Verna is a representative model in China’s compact vehicle market with more than 1 million unit sales since its l
MobilityApril 25, 2016
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N. Korea asks Chinese firm to pay advance wages for N. Koreans
North Korea has asked a Chinese company to pay cash in advance for North Korean workers in an apparent bid to raise the funds necessary for the upcoming congress of the ruling Workers' Party, a media report claimed Monday.A North Korean source in China contacted Daily NK, a Seoul-based news outlet specializing in North Korea, claiming that a fishery firm in Dandong has recently remitted six months worth of wages for its North Korean laborers in advance at the strong request of Pyongyang.Dandong
North KoreaApril 25, 2016
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[Market Now] Hanjin Shipping tanks; Hanjin KAL soars
Shares of Hanjin Group’s key companies moved in opposite directions Monday, as investors gauged the expected impact of its shipping affiliate’s pursuit of a creditor-led rehabilitation. Hanjin Shipping tanked on the main Seoul bourse, with its stocks closing at 1,825 won ($1.60) per share, 29.94 percent lower than the previous close. Hanjin KAL, the group’s holdings firm, soared 8.42 percent to 20,600 won, while Korean Air Lines declined 2.3 percent to 29,750 won. Hanjin Shipping, the country’s
April 25, 2016
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[Exclusive] Samsung, de Grisogono to debut 'super-luxury' Gear S3
Samsung Electronics and Swiss luxury jeweler de Grisogono have agreed to jointly launch a so-called “super-luxury” limited edition of the Samsung Gear S3, a next-generation smartwatch that is set for official release later this year. “We are currently collaborating with Samsung to develop its next-generation smartwatch,” a de Grisogono official told The Korea Herald at the Conde Nast International Luxury Conference held in Seoul last week. The Samsung Gear S2 by de Grisogono (de Grisigono offici
TechnologyApril 25, 2016
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Hyundai Motor wins World Rally Championship Race
Hyundai Motor announced Monday its world rally team won the FIA World Rally Championship race in Argentina last week and secured their first win for individual competition this season.It is also the first win for its new generation i20 World Rally Car, according to the company.Hyundai Motor drivers Hayden Paddon (right) and John Kennard celebrate after winning the FIA World Rally Championship race. (Hyundai Motor)“I’m really happy and thrilled to have won the competitive rally in Argentina. I wi
MobilityApril 25, 2016
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Sechs Kies to make comeback after 16 years
Legendary idol boy band Sechs Kies may release a new album, 16 years after the six-member group disbanded in May 2000. Sechs Kies, a first-generation K-pop boy band which debuted in 1997, held a reunion concert at the Seoul World Cup Stadium on April 14, as part of a project for MBC’s reality show “Infinite Challenge.” The reunion concert was held one day before the 20th anniversary of the band’s debut. Despite the short notice, more than 5,000 fans gathered to see the group, with many showing u
PerformanceApril 25, 2016
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Seoul shares end tad lower on shipbuilder losses
Korean stocks closed slightly lower Monday as investors sold shipbuilders and shipping companies on their grim business outlook. The local currency lost against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) ticked down 0.94 point, or 0.05 percent, to 2,014.55. Trade volume was moderate at 392.71 million shares worth 4.31 trillion won ($3.75 billion), with decliners outnumbering advancers 472 to 334.Institutions offloaded companies in the heavy industry sector as they ar
April 25, 2016
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N.K. calls for strong loyalty to leader on military anniversary
North Korea called on its military to show strong allegiance to leader Kim Jong-un as the country celebrated the 84th anniversary of the Korean People's Army creation on Monday.The Rodong Sinmun, the North's main newspaper, said in its commentary that the country should establish the one-man leadership more firmly as it celebrates the key anniversary of its armed forces."There will be no enemy forces that can stand against the KPA, as our military is equipped with outstanding tactics and strikin
North KoreaApril 25, 2016
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[News Focus] Will Seoul push for consolidation of warship makers?
A number of options are being considered for restructuring the Korean shipbuilding industry, which suffers from overcapacity, with the government stepping up its active intervention. The latest option being discussed is the consolidation of military ship makers, a local business daily said Monday, quoting a high-ranking government official close to the matter.South Korean defense contractor Daewoo Shipbuilding and Marine Engineering unveils the first out of three submarines for the Indonesian De
IndustryApril 25, 2016
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Policy banks cautioned on increased corporate lending
Korea’s state-run policy banks have been questioned on whether they can withstand potential debt fallout from companies facing marginal or weak profitability, with lenders’ capital buffering capability falling on increased loans to financially instable conglomerates.A report by the Korea Development Institute showed that the country’s two main policy lenders – Korea Development Bank and the Korea Export-Import Bank – extended loans worth 82 trillion won ($70 billion) two years ago, up from 34 tr
April 25, 2016
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Brewers mulling beer price hike
Korean liquor companies are reportedly considering raising the price of beer products starting next week, citing rising raw material and logistics costs, according to local reports.Reports quoting industry sources said Oriental Brewery Co., owned by Anheuser-Busch InBev, the world‘s biggest brewer, has sent notices to wholesale dealers across the country that it would increase beer prices 5.3-5.6 percent starting May 1.The wholesale price of a half-liter Cass, OB‘s best-selling beer brand, is ex
IndustryApril 25, 2016