Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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New SM7 Nova ― an emerging star in premium sedan market
Industry Awards / Passenger CarRenault Samsung MotorsRenault Samsung Motors is honored to win the prestigious Korea Herald Advertising Awards this year with our New SM7 Nova ad campaign. Launched in 2004, the SM7 is the carmaker’s flagship sedan that reflects our devotion to top quality and values. The latest SM7 Nova ― its name coming from the Latin word for “emerging star” ― aims to become a new emerging star in the premium sedan market.With the new car launched on Sept. 2, Renault Samsung wil
Oct. 30, 2014
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Korea Investment: Your partner for life
Lee Hee-juSpecial Awards / Finance Brand Korea Investment & Securities Co., LtdI want to express my sincerest thanks to The Korea Herald for awarding Korea Investment & Securities in the special finance brand segment. We believe we were recognized for our financial philosophy, which is focused on growing together with consumers by putting their interests ahead of everything else. We are also doing our best to return their trust by helping them make safe and successful investments. We know that i
Oct. 30, 2014
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S. Korea's industrial output inches up in Sept.
South Korea's industrial output grew in September from a month earlier, but the overall growth remained sluggish with the production in manufacturing not improving much, government data showed Thursday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries expanded 0.1 percent last month from a month earlier. This marked a turnaround from a 3.9 percent shrinkage tallied in August. Production in the service sector also expanded 0.1 per
Oct. 30, 2014
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Samsung Electronics Q3 net down 49 pct
Samsung Electronics Co., the world's top smartphone maker, said Thursday its net profit nearly halved in the third quarter from a year earlier, as its faltering smartphone business dragged down overall sales. Net profit reached 4.22 trillion won (US$4.01 billion) in the July-September period, down 48.7 percent from 8.24 trillion won the previous year, the company said in a regulatory filing. Operating profit plunged 60 percent on-year to 4.1 trillion won, from a record high of 10.1 trillion won
Oct. 30, 2014
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Naver Q3 net almost doubles on overseas sales
Naver Corp., South Korea's top Internet portal operator, said Thursday its third-quarter net profit almost doubled from a year earlier as overseas sales, aided by its mobile messenger service LINE, sharply increased.Net profit reached 143 billion won (US$136 million) in the July-September period, compared with 74.4 billion won a year earlier, the company said in a regulatory filing.Operating income came to 189 billion won during the third quarter, rising from 101 billion won the previous year.Sa
Oct. 30, 2014
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[Graphic News] Temporary workers on the rise in Korea
The number of temporary workers in South Korea has exceeded 6 million this year for the first time, according to government figures Wednesday. As of August, there were a total of 6.07 million temporary workers here, Statistics Korea said. The figure was up by 131,000 people compared to a year earlier. Among the different types of temporary workers, the number of part-time employees working for designated periods of time grew the most, increasing by 148,000 to reach 2.03 million, the figures show
Oct. 29, 2014
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Daelim to woo residents to Hwaseong complex
Daelim Industrial, a leading construction company here, will begin sales of apartments in its latest ePyunhansesang complex, dubbed the “ePyunhansesang Hwaseong” next month, located in Hwaseong, Gyeonggi Province.EPyunhansesang ― roughly meaning “a comfortable world” in Korean ― is the builder’s flagship housing brand.The complex will offer 1,387 apartments ranging from 59-84 square meters in 12 buildings, each with 29 stories including one lower ground floor. These will make up about a sixth of
Oct. 29, 2014
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Korean firm develops locker operated by smartphones
A local company has unveiled the world’s first smartphone-connected lockers at the ITU Plenipotentiary Conference 2014, which kicked off in Busan Oct. 20. Smart Box said on Wednesday it has set up 1,500 of its digital lockers at the venue for the convenience of the conference participants. The smart lockers, which come with wireless communications modules, allow users to set the passwords via their smartphones. The company said its system has appealed to the participants whose main agenda happen
Oct. 29, 2014
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IPO funds lure S. Korean investors
The stellar performance of some newly listed firms, low interest rates, and a sluggish run on the local stock market are enticing investors back to funds that invest in rookie stocks, data showed Wednesday.Investors have poured a total of 983 billion won ($939 million) into the 71 funds so far this year that invest in newly listed firms, according to the data compiled by fund evaluator KG Zeroin.Such funds attracted 276 billion won through this month as of Monday following an inflow of 236 billi
Oct. 29, 2014
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Think tank urges closure of some FEZs
The state-run Korea Development Institute on Tuesday called for a reduction in the number of free economic zones in Korea to focus on improving areas of core competitiveness. “In order to attract more foreign companies, the government should shut down some of the economic zones, those that have been underperforming,” said Song Young-kwan, a senior KDI researcher. “Instead, we should focus on those that are doing well, allowing them more deregulation and the means for more efficiently managing fo
Oct. 28, 2014
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[Herald Interview] Collaboration helps safeguard innovation: legal expert
Luca Rampini, a senior lawyer of the EU’s largest intellectual property agency believes the Korean patent authority’s latest efforts to collaborate with other countries will bring better protection for innovative ideas and inventions created by small and medium-sized businesses here.“Intellectual property is protecting both innovation and creativity. And here in Korea, you know all about both those things,” Rampini, a lawyer with the Office for Harmonization in the Internal Market under the Euro
Oct. 28, 2014
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Jeju Air expands market share in domestic flight sector in Q3
Jeju Air, South Korea’s No. 1 budget carrier, said Tuesday that it had expanded its market share in domestic flights that go through Jejudo Island in the third quarter. The company, owned by convenience product manufacturer and retailer Aekyung Industrial Co., said its passenger traffic share reached 16.5 percent in the three-month period, up 1.4 percentage points from the year before.This placed it as the clear leader among the country’s five low-cost carriers, while helping the company reduce
Oct. 28, 2014
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Shinhan Bank expands microcredit financing
Shinhan Bank has been expanding its microcredit financing business for low-income customers, with the service reaching 1 trillion won ($900 million) in the first half of this year, the company said Tuesday. “We are stepping up our efforts to make society better through the company’s finance business for low-income earners,” said Suh Jin-won, president of Shinhan Bank. Shinhan Bank has been making progress in its financial support programs for borrowers with low credit scores. Shinhan Bank emplo
Oct. 28, 2014
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Coex pushes for creative industry cluster project
Coex, once considered a venue for exhibitions and conventions, is pushing for a project to build a creative cluster for meetings, incentives, conferences and exhibitions ― the so-called MICE industry ― in Samseong-dong, an affluent business district in southern Seoul.The reason? To prepare for the future, says Byun Bo-kyung, chief executive of Coex.“I believe the district, where Coex and other service firms, including hotels, shopping malls and performance halls, are located, makes it the perfec
Oct. 28, 2014
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(Photo News) Innovatice growth
Herald Corp. CEO Lee Young-man makes a speech at the Creative Economy Forum hostedby the company in Seoul on Tuesday. Industry executives discussed how to spur growth through technological innovation and research and development at the third annual forum. (Park Hyun-koo/The Korea Herald)
Oct. 28, 2014
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Samsung's heir-apparent seeking to buy stakes in financial affiliates
Lee Jay-yong, Samsung Group's heir-apparent, is seeking to buy stakes in the group's key financial affiliates, a move seen to help boost his grip on South Korea's largest business group, industry sources said Tuesday.According to the sources, Lee, vice chairman of Samsung Electronics Co., the world's largest smartphone manufacturer, is moving to purchase stakes in Samsung Life Insurance Co. and Samsung Fire & Marine Insurance Co., the country's top-rated insurance companies. The move is subject
Oct. 28, 2014
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Tax revenue shortfall to top W10tr this year
Finance Minister Choi Kyung-hwan (right) discusses key economic issues with his deputy during an audit on the ministry’s fiscal policies at the National Assembly in Seoul on Monday. (Ahn Hoon/The Korea Herald)The government is seeking to reduce expenditure as its tax revenue shortfall is expected to surpass 10 trillion won ($95 billion) this year, according to a report published by the National Assembly Budget Office last week. The shortfall is forecast at 10.7 trillion won, as this year’s tax r
Oct. 27, 2014
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[SUPER RICH] AmorePacific chief emerges as billionaire icon
The stock market has played an instrumental role in creating the wealth of most South Korean billionaires.Suh Kyung-bae, 51, chairman of South Korean cosmetics-maker AmorePacific Group, is one such business tycoon who joined the big leagues of wealth thanks to a dramatic upturn in his stock values. Last week, the stock price of AmorePacific, the nation’s top cosmetics manufacturer, surpassed the 2.5 million won ($2,375) mark for the first time in its history, making Suh the second-wealthiest man
Oct. 27, 2014
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Shareholders OK Samsung firms’ merger
The shareholders of shipbuilder Samsung Heavy Industries and onshore plant builder Samsung Engineering Monday approved the merger of the two Samsung units for creating a global plant construction giant. The merged shipbuilding entity will be launched Dec. 1, Samsung Heavy officials said.The two firms announced their plans to merge on Sept. 1 as part of the Samsung Group’s business portfolio reorganization, which was apparently linked to the ownership succession. The Samsung corporate flag flies
Oct. 27, 2014
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Firms gear up to adopt smart factory system
The South Korean government is promoting a smart factory system designed to maximize production efficiency by merging cutting-edge information technology with conventional manufacturing lines.The Korea Chamber of Commerce and Industry, which has been leading the smart plant project, held a meeting Monday to consult companies that will adopt the smart system before full-scale construction starts next month.“The smart factory project will become an innovative and practical process that enables sma
Oct. 27, 2014