Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Ex-president's daughter investigated for drunk driving accident
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First lady’s Dior bag scandal to be at center of Assembly audit
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Second son, winner of Lotte power game?
Lotte Group chairman Shin Dong-bin has apparently gained full control of the companies in both Korea and Japan on Tuesday, but it may be too early to pop the champagne as the ousted father and group founder Shin Kyuk-ho emerges as a deal breaker of the son’s hopeful reign of the business empire. Chairman Shin and his followers successfully repressed the uprising by his older brother in Japan to oust him with the help of the nonagenarian father early this week. But the wealth of the father, who h
July 29, 2015
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Daelim Industrial opens sales of Yangju apartments
Daelim Industrial Co. officials said it would open sales in August of its e-Pyeonhansesang apartments in Yangju, a new city in northern Gyeonggi Province.A total of 761 homes in its eight apartment buildings in Okjeong-dong, Yangju, will be available. E-Pyeonhansesang (comfort world) is the builder’s apartment brand well known to domestic consumers.Yangju is one of the largest new cities in Gyeonggi Province and is expected to be an alternative residential place for several areas in northern Seo
July 29, 2015
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70% of conglomerate units hold no female executive
The executive boards of a majority of the Korean conglomerates continue to be dominated by male members despite the rising proportion of female workers over the past few decades. According to corporate assessment site CEO Score, seven out of 10 affiliates of the 30 biggest business groups had a male-only board of directors.About 73 percent, or 210 of the 284 surveyed units, of the 30 conglomerates did not have a single female executive on their board of directors as of the first quarter of 2015.
July 29, 2015
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[Graphic News] Car export prices continue slide
The nation’s five major automobile companies exported 809,642 units in the second quarter this year, down 0.2 percent from a year ago, according to data released Wednesday.The report by the Korea Automobile Manufacturers Association said their combined income from car exports during the period reached $11.5 billion, a 3.9 percent drop.The average export price per car stood at $14,200, a 3.7 percent decrease on-year, the KAMA report said.The export unit price of cars has decreased since the third
July 29, 2015
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KT&G chief offers to resign amid slush fund probe
Min Young-jin, chief executive of Korea’s largest tobacco producer KT&G, offered to resign a week after prosecutors began probing slush fund allegations. Min Young-jin (KT&G)Min, whose term officially ends in seven months, attended the board meeting Wednesday to announce his intention to resign, KT&G said. The board will convene a committee to sort out candidates.Last week, Min was investigated at the Seoul Central District Prosecutor’s Office over embezzlement and breach of trust charges. Pr
July 29, 2015
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Microsoft launches Windows 10 in S. Korea
Microsoft Corp. released its latest operating system in South Korea on Wednesday, offering one single platform that works on PCs, as well as smartphones, as the world's top software giant sets its sights on claiming the mobile and cloud segments.Windows 10 for desktops and tablet PCs is now available for purchase, with the mobile version to be introduced later in the year, its local unit said at a press briefing. The price for Windows 10 Home, the version for general users, is set at 172,000 won
July 29, 2015
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‘Chinese superrich to sustain growth despite economic slowdown’
Despite the continued economic slowdown and a recent big stock market crash in China, the number of Chinese dollar billionaires is expected to hit a record high of 450 this year, up 26 percent from 358 in 2014, an expert on successful Chinese individuals said. Rupert Hoogewerf, chairman and chief researcher of Hurun Report“Wealth creation in China has been extraordinary over the past 16 years. There was only one dollar billionaire when I started doing research on China’s rich people back in 199
July 28, 2015
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Spreading K-beauty
AmorePacific’s flagship brand Laneige held a makeup show dubbed “Beauty Road” to promote its best-selling BB Cushion at the EmQuartier Shopping Mall on Sukhumvit Road in Bangkok, Thailand, on July 17. Starting from Thailand’s capital city, the Korean cosmetic brand will tour seven Asian cities, including Kuala Lumpur, Beijing and Singapore, to host the pop-up event. (Laneige)
July 28, 2015
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[SUPER RICH] Top 3 chaebol families hold landmarks in Gangnam
Samsung, Hyundai Motor and Lotte, the top three chaebol of South Korea, possess landmarks in Gangnam, the most expensive area in the country. Here is a look at the size and scope of their properties.Hyundai Motor Group: Global Business Center Hyundai Motor Group chairman Chung Mong-kooHyundai Motor Group purchased the former 79,431 square meter KEPCO property located in Samseong-dong, Gangnam-gu, for 10.5 trillion won last year, and will have full ownership of the property this September. The co
July 28, 2015
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Samsung Bioepis plans Nasdaq listing by June 2016
Samsung Bioepis, a biosimilar drug developer subsidiary of South Korea’s Samsung Group, said Monday that it is planning to debut on the U.S. stock market by June 2016.The company will choose an advising firm to lead its Nasdaq listing by mid-August and begin the related legal processes from early September, according to Samsung.The biopharmaceutical firm aims to be listed by the second quarter of next year, when it is expected to receive regulatory approval to begin selling its biosimilar versio
July 28, 2015
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Samsung C&T shares fall on possible Elliott exit
Samsung C&T shares on Tuesday fell below a key level set in its $8 billion merger with sister firm Cheil Industries on speculation that Elliott Associates, a key opponent to the deal, may soon sell its stake in the builder. Elliott, the U.S. hedge fund that had launched an agressive campaign to block the merger deal, returned its C&T certificate to the Korea Securities Depository on Monday, meaning it can now sell its 7.1 percent stake in the company.Elliott is also said to have returned the cer
July 28, 2015
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Cracking margins drive refiners
After posting record-low deficits stemming from free-falling crude prices that led to massive inventory valuation losses in 2014, South Korea’s top refiners swung back to recovery in the second quarter thanks to high cracking margins and stable oil prices.SK Innovation, the nation’s biggest oil refiner, recorded 987.9 billion won ($845 million) in operating profits from April to June, marking its second-highest quarterly performance ever, after the 1.36 trillion won posted in the first quarter o
July 28, 2015
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Hyosung profit jumps as heavy industry improves
Hyosung Corp. on Tuesday posted a massive jump in operating profits for the second quarter of the year, setting a new quarterly record for the company. According to the company, its second quarter operating profits soared 30.9 percent from a year ago to come in at over 255 billion won ($219 million).The company’s sales rose 3.4 percent over the same period to clock in at about 3.2 trillion won. “(The second quarter performance) is the result of improving profitability of the heavy industries bus
July 28, 2015
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Lotte founder Shin Kyuk-ho sacked by son
Lotte Group founder and general chairman Shin Kyuk-ho on Tuesday was sacked from the post of CEO of Lotte Holdings in Japan by his heir and second son Shin Dong-bin.The junior Shin, chairman of Lotte Group in Korea, called an emergency meeting of the board of directors of the holding company in Tokyo and dismissed his father from the top post.Lotte Group said in a statement that the senior Shin will be positioned as an honorary chairman instead of general chairman. Executives will still report t
July 28, 2015
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[Graphic News] Investments in start-ups increase 40 percent this year
Investments in start-ups increased by 40 percent after the government announced various support policies last year, data showed Tuesday. The Small and Medium Business Association said that investments amounting to 956.9 billion won were made for venture funds from January to June in 2015, a 38.4 percent increase from the same period last year. The number of venture capital firms also increased to 517 in the first half of this year, a 23.7 percent increase from a year ago. An SMBA official said
July 28, 2015
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S. Korean cinema chain CGV opens six 4DX theaters in Japan
A subsidiary of South Korea's largest cinema chain, CJ CGV, has added six 4DX movie theaters in Japan, the company said Tuesday.The six recently opened at multiplex theaters in six cities, including Sapporo, Maebashi and Himeji, CJ 4DXPlex Co. said in a release. The 4DX auditoriums in Sapporo and Himeji were the first such theaters in those cities. The move brought to 17 the total number of CJ-run 4DX theaters in Japan.Japan is the fastest growing market among the 34 countries where CJ's 4DX the
July 28, 2015
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Lotte Holdings in Japan discharges founder Shin Kyuk-ho: report
Lotte Holdings of Japan, the de facto holding company of Lotte Group, held an emergency shareholder meeting on Tuesday, voting to remove General Chairman Shin Kyuk-ho from his post, Japanese media reported.Following the decision, the 93-year-old, who founded the retail-focused conglomerate in 1948, was named honorary chairman of Lotte Holdings. Shin Kyuk-ho, seated on the right. (Yonhap)In a shareholder meeting held on July 16, Shin Dong-bin, the founder's younger son, Shin Dong-bin, was appoint
July 28, 2015
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Daewoo E&C earnings soar over 2.5-fold in Q2
Daewoo Engineering & Construction Co., one of South Korea's major builders, said Tuesday that its second-quarter earnings surged more than 2.5 times from a year earlier on a recovery in the local housing market. Net profit came to 83.55 billion won ($71.41 million) during the April-June period, up 162.83 percent from the 31.79 billion won posted a year earlier, the company said in a regulatory filing. Operating income, however, dropped 10.3 percent to 92.4 billion won over the cited period, whil
July 28, 2015
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Samsung releases flip-style smartphone
South Korea's top tech giant Samsung Electronics Co. said Tuesday it has commenced sales of its second flip-style smartphone in line with its struggles to diversify its handset portfolio amid ailing sales.The Galaxy Folder, which boasts a 3.8-inch display, will come in two editions that run on the third-generation and long-term evolution networks.It will also come with 8-megapixel and 2-megapixel cameras on the back and front, respectively, along with a 1,800 mAh detachable battery."The folding-
July 28, 2015
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Hyundai, Kia rank 1st in home production ratio
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. had the highest home country production ratio among major global carmakers in 2014, industry data showed Tuesday.According to the data by FOURIN, a Japanese car research firm, the two Korean carmakers produced a combined 8 million cars last year, of which they churned out 3.59 million units in their home country.This represented a 44.8 percent home country production ratio, the highest among nine carmakers whose global productions exce
July 28, 2015