Most Popular
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Jung's paternity reveal exposes where Korea stands on extramarital babies
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Samsung entangled in legal risks amid calls for drastic reform
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Heavy snow alerts issued in greater Seoul area, Gangwon Province; over 20 cm of snow seen in Seoul
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[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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[Health and care] Getting cancer young: Why cancer isn’t just an older person’s battle
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K-pop fandoms wield growing influence over industry decisions
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[Graphic News] International marriages on rise in Korea
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Korea's auto industry braces for Trump’s massive tariffs in Mexico
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Seoul blanketed by heaviest Nov. snow, with more expected
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[Graphic News] Korea’s beer exports more than halve this year on virus
South Korea’s beer exports more than halved in the first nine months of the year in the wake of the coronavirus pandemic, data showed. Overseas shipments of Korean beer stood at $54.1 million in the January-September period, about 46 percent of last year’s $117.3 million, according to the Korea Agro-Fisheries & Food Trade Corp. Exports to China fell by a third to $20.3 million from $67.6 million over the cited period. Shipments to Hong Kong sank 27.3 percent, and those t
BusinessNov. 2, 2020
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Number of int'l travel firms hits 4-year low on pandemic
The number of agencies for overseas trips in South Korea sank to a near four-year low this year due to travel restrictions caused by the coronavirus pandemic, data showed Monday. South Korea had 8,963 international travel agencies as of the end of September, down 5.3 percent, or 503, from the end of December, according to the data from the Korea Tourism Association. It represents the lowest tally since the 8,948 recorded in December 2016. After peaking at 9,732, the number had been on a stead
IndustryNov. 2, 2020
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Seoul stocks open higher ahead of US election, FOMC meeting
Seoul stocks opened higher Monday ahead of the upcoming US presidential election and the Federal Open Market Committee (FOMC) meeting. The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.37 points, or 0.33 percent, to reach 2,274.52 in the first 15 minutes of trading. Stocks got off to a strong start after the previous session's 2.56 percent plunge. Amid the global COVID-19 resurgence and the US election uncertainties, investors pinned hopes for a dovish signal from the FOMC, whic
MarketNov. 2, 2020
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Apple recalls AirPods Pro for faulty sound issues
Apple Inc. has announced a global recall of AirPods Pro wireless earbuds for faulty sound issues, such as crackling or static sounds. Apple said it has determined that a small percentage of AirPods Pro may experience sound issues, adding that affected units were manufactured before October 2020. The US tech giant said problems of an affected AirPods Pro included crackling or static sounds that increase in loud environments, with exercise or while talking on the phone. It also said active nois
IndustryNov. 2, 2020
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SKT has best 5G availability, LG U+ fastest 5G download speed: UK research institute
Among Korean communications firms, SK Telecom has the best 5G availability in the capital areas of Seoul and Incheon, while LG U+ has the fastest 5G download speed, according to UK market research institute Open Signal on Sunday. “Korea’s 5G experience continues to improve with more users opting for a 5G handset,” said Open Signal, “The 5G network connection was faster in Seoul, Incheon and Busan than elsewhere in the country.” According to Open Signal in researc
IndustryNov. 1, 2020
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Samsung silently marks anniversary
Samsung Electronics on Sunday marked the 51st anniversary of its foundation in silence, in the first memorial day under scion Lee Jae-yong just one week after Chairman Lee Kun-hee’s death. There was no official remark from Samsung regarding the anniversary, but the conglomerate was set to hold a ceremony Monday. Whether Vice Chairman Lee Jae-yong would release a message was not confirmed. Industry watchers are paying attention to what a new Samsung with heir Lee officially at the he
IndustryNov. 1, 2020
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Jeonse supply measures stall amid housing market turbulence
The South Korean government is apparently caught in a real estate dilemma, as its aspiration to ease the supply shortage of “jeonse” apartments will likely contradict its efforts to cool the heated housing market. While policymakers are struggling for a breakthrough, the announcement of jeonse-related measures will probably not take place within this week, according to multiple officials of the Ministry of Economy and Finance and the Ministry of Land, Infrastructure, and Transpo
EconomyNov. 1, 2020
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Korea Sale Festa and more sales events kick off amid pandemic
South Korea’s annual nationwide shopping festival Korea Sale FESTA kicked off Sunday with over 1,600 companies, the largest scale to date. The two-week festival takes place until Nov. 15 this year with the support of the central governments and the 17 metropolitan and provincial authorities, though many parts of the event will go online. During an online opening ceremony on Saturday, Prime Minister Chung Sye-kyun said this year’s event would “contribute greatly to the recover
ConsumerNov. 1, 2020
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HiteJinro launches sour candy-flavored soju
South Korean liquor maker HiteJinro has released a new low-alcohol sour candy-flavored soju. The latest addition is a collaboration with Korean confectionery company Orion’s popular sour candy Aisher. Similar to the snack, the flavor has been described as “super sour.” The Aisher soju marks the fourth in the liquor maker’s fruity flavored soju series, following grapefruit, green grape and plum favors. The company said the new flavor reflects a recent trend among young
ConsumerNov. 1, 2020
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8 units of SK Group to join global renewable energy campaign
Eight units of South Korea's third-largest conglomerate SK Group will participate in a global renewable energy campaign also joined by Google Inc. and Apple Inc., the group said Sunday. The SK firms will be the first South Korean companies to take part in the RE100 campaign that calls for companies to meet their entire electricity demand with renewable energy such as wind power and solar power by 2050. About 260 companies, including Google Inc., Apple Inc. and Ikea, have already joined the c
EconomyNov. 1, 2020
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Former presidential economy secretary tapped as FSC vice chairman
President Moon Jae-in’s former secretary for economic policy, Doh Kyu-sang has been tapped as new vice chairman of the Financial Services Commission, Cheong Wa Dae said Sunday. Doh, a 53-year-old veteran bureaucrat, is well known for his career and expertise in economic policymaking. He joined the Ministry of Economy and Finance in 1991 after passing the civil servant exam and built his career both at the ministry and the FSC while taking key roles. Doh served as the main spokesperson
EconomyNov. 1, 2020
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COVID-19 irony: Banking groups set to break records in pandemic
While the global economy seems to be largely struggling under coronavirus woes, South Korea’s major banking groups are projected to see record-high earnings for this year, analysts said Sunday. “There has been an increase in core interest revenues due to a growth in won-denominated loans and a narrow on-quarter decline of the banking groups’ net interest margins by 0.01 percentage point,” a recent note released by local brokerage BNK Securities said. “Their brok
MarketNov. 1, 2020
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[From the scene] Getting on a ‘flight to nowhere’
On a Saturday morning in October, an Asiana Airlines flight carrying 250 passengers took off at Incheon Airport in the midst of a pandemic. The destination? Nowhere, although it flew over Gangneung, Pohang, Gimhae and Jeju Island during the nearly two-hour flight. As odd as it may sound to those who dread the idea of going to the airport, the destination-less flights, or “flights to nowhere” have become a hit of some sort with avid flyers in 2020 -- a year when commercial flying ha
MobilityNov. 1, 2020
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Kospi records first monthly fall after March
South Korea’s main bourse Kospi saw a monthly dip in October, discontinuing its winning streak following March, when the market hit its rock bottom over market fears on the coronavirus and started a seven-month rebound. Despite the index heading south, retail investors have flocked to high-risk leveraged exchange-traded funds, betting on the local stocks’ recovery, data showed Sunday. According to the nation’s sole securities exchange operator Korea Exchange, Kospi closed at 2
MarketNov. 1, 2020
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Hyundai Heavy fined for subcontractor's technology misuse
South Korean shipbuilder Hyundai Heavy Industries Co. has been fined 246 million won ($216,800) for misusing a subcontractor's technologies, the country's antitrust watchdog said Sunday. Hyundai Heavy shared the design of a subcontractor's lighting equipment with another subcontractor without permission to help it make the same equipment from April 2017 to April 2018, the Fair Trade Commission (FTC) said. The shipbuilder was found to have delivered the design of five ship engine parts provid
IndustryNov. 1, 2020
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Hyundai Mobis strengthens competitiveness of future car software
Since 2018, Hyundai Mobis has been operating the “Mobis Software Academy” that allows employees and researchers to complete specialized software training at a technical institute in Yongin City, a move to reinforce the firm’s software development capabilities. The biggest feature of the academy is to focus on convergence software processes specialized for autonomous driving, such as sensors and technologies for the vehicles’ “cognition,” “judgment,&ldq
MobilityNov. 1, 2020
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Hyundai Motor sells over 380,000 units of Genesis overseas
Hyundai Motor Co. sold over 380,000 units of its premium brand Genesis in overseas markets over the past five years since the brand launched in November 2015, industry sources said Sunday. Sales of Genesis came to a combined 384,471 units in September this year, showing its steady sales in the global passenger car market, they said. The current Genesis lineup is composed of the G70, G80 and G90 sedans and the GV80 SUV. In the first nine months, sales of the all models of Genesis were talli
IndustryNov. 1, 2020
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Exports decline again in Oct. on fewer days; virus lockdowns set to weigh down shipments
South Korea's outbound shipments dipped 3.6 percent in October from a year earlier on fewer working days and virus resurgence, snapping the previous month's brief rebound, data showed Sunday. Outbound shipments came to $44.9 billion last month, compared to $46.6 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports moved down 5.8 percent to $39 billion, resulting in a trade surplus of $5.9 billion. The latest figure roughly falls in line
EconomyNov. 1, 2020
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Seoul shares face high volatility in coming week; US elections, COVID-19 in focus
South Korean shares are likely to face high volatility in the coming week, with key political developments, including the US presidential election and new coronavirus outbreaks, expected to roil global financial markets, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,267.15 points on Friday, down 3.97 percent from a week ago. Local analysts said the KOSPI could receive an upward push in the coming week from hopes for third-quarter earnings hikes a
MarketOct. 31, 2020
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NPS reaps 5% return as measures to boost gains are underway
South Korea’s public pension fund, the National Pension Service, said Friday that it has reaped a 5.07 percent return on its total investments from January to August this year. The nation’s largest institutional investor, overseeing 789.9 trillion won ($695.3 billion) worth of assets, also unveiled measures to pursue additional gains by wooing more hedge fund partners and enhancing its foreign currency management. At a meeting Friday of the NPS’ Fund Management Committee, We
MarketOct. 30, 2020