Most Popular
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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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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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S. Korea, Singapore seal supply chain agreement
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Netflix, streaming platforms come under fire for loose ratings
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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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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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K-pop CEOs sidestep key issues at National Assembly audit
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Korean shipbuilders fall behind China, Japan in April orders
Local shipbuilders fell behind their Chinese and Japanese rivals in new orders won last month, due mainly to falls in orders for offshore plants and mega cargo ships, industry data showed Thursday. South Korean shipyards obtained new orders totaling 294,167 compensated gross tons in April, down 84.8 percent compared with the same period of last year, according to the data by global market researcher Clarkson Research Services.The number accounts for 13 percent of the total global ship orders. Ch
May 8, 2014
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Sony, Pantech launch new smartphones
Sony’s Xperia Z2 on the left and Pantech’s Vega Iron 2 on the rightSony and Pantech launched their latest flagship smartphones in Korea on Thursday.Sony’s Xperia Z2, powered by a 2.3-GHz quad-core Qualcomm Snapdragon 801 processor, boasts a 20.7-megapixel rear-facing camera, a 5.2-inch full HD display, 3GB of RAM and a 3200mAh battery. Also unveiled at Sony’s event in Seoul was a waterproof smartband lineup which can link to Android-based smartphones and track the daily activities of users. P
May 8, 2014
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Samsung SDS to be listed within this year
Samsung SDS Co., a key IT unit of the country's largest conglomerate Samsung Group, said Thursday it plans to go public on the main bourse by the end of this year, a move that industry watchers linked to the group's management succession to the next generation of the owner family.The company provides information and communications technology services at home and abroad. It said the latest decision came in line with its efforts to expand its business to the overseas market."Recently, global IT co
May 8, 2014
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NAVER Q1 net down 17.9 percent
NAVER Corp., South Korea's top Internet portal operator, said Thursday its first-quarter net decreased 17.9 percent from a year earlier.Net profit came to 128.9 billion won (US$126 million) in the January-March period, compared with 156.9 billion won posted a year earlier, NAVER said in a regulatory filing.Revenue gained 23.9 percent to 638 billion won while its operating profit advanced 50.5 percent to 189.8 billion won over the cited period.The figures exclude the performance of NHN Entertainm
May 8, 2014
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Low migration puts Korea 20th in global flow ranking: survey
South Korea was ranked eighth in the world in goods transactions in 2012, but in terms of combined global flow of goods, services, finance, people and data, the country placed 20th, according to a report by U.S.-based management consultancy McKinsey. The result was based on the McKinsey Global Institute Connectedness Index, which measured 131 countries’ levels of global integration between 1980 and 2012 through a study of different types of global flows, including goods, services, finace, people
May 7, 2014
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Daewoo Shipbuilding wins $160m LNG carrier order
Daewoo Shipbuilding & Marine Engineering, one of the country’s biggest shipbuilders, said on Wednesday that it has clinched a $160 million deal with an Asian shipper to build two 84,000-ton liquefied natural gas carriers.The counterpart in the deal is one of the two companies that previously placed orders worth some $640 million with Daewoo Shipbuilding to build eight very large gas carriers, or VLGCs, the company said.It added that the name of the potential partner was withheld due to a confide
May 7, 2014
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Korean banks’ loan delinquency rate falls in March
The delinquency rate on loans extended by South Korean banks fell in March as they cleared off more bad loans and added less fresh debts, the financial watchdog said Wednesday.The combined delinquency rate of loans stood at 0.85 percent at the end of March, down 0.1 percentage point from a month earlier, according to the Financial Supervisory Service.The decline came as banks wrote off more bad debts, worth 3.1 trillion won ($3 billion) as of end-March, compared with 1 trillion won in February,
May 7, 2014
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Major firms miss market estimates for Q1 earnings
South Korea’s major companies reported weaker earnings than expected for the first quarter of the year, data showed Wednesday, which could further exacerbate the already-slowed local stock market.The data compiled by market researcher FnGuide shows that 25 out of 72 firms that released their first-quarter earnings missed market estimates, most of them construction, shipbuilding and petrochemical firms.Samsung Heavy Industries, a major shipbuilder, reported an operating loss of 363 billion won ($
May 7, 2014
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Home shopping firms’ mobile sales spike in Q1
Sales at the top three local home shopping companies via mobile devices shot up in the first quarter of the year from a year ago, while those based on the Internet and TV were slackening, records from the companies showed Wednesday.Sales at CJ O Shopping from mobile devices rose more than fourfold to 145.3 billion won ($142 million) in the January-March period, compared with 35 billion won a year earlier, the company said. Mobile sales are expected to more than double to 661.9 billion won this y
May 7, 2014
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Global smart car market to grow 7 percent by 2018
The global smart car market is expected to grow 7 percent each year by 2018, around double the automotive market growth of 3.5 percent during the same period, according to a recent report published by KDB Research Institute.The market hit around 230 trillion won ($224 billion) in 2013. Smart cars are connected vehicles which provide more safety and convenience with electronics and communications technology. Recently, governments and global industries have been fostering the industry as a new gro
May 7, 2014
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Home shopping firms' sales via mobile spike in Q1
Sales at top three local home shopping companies via mobile devices shot up in the first quarter of the year from a year ago, while those based on the Internet and TV were slackening, records from the companies showed Wednesday.Sales at CJ O Shopping Co., formerly known as CJ Home Shopping, from mobile devices rose more than four-fold to 145.3 billion won ($141.5 million) in the January-March period, compared with 35 billion won a year earlier, the company said. Mobile sales are expected to more
May 7, 2014
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Major firms miss market estimates for Q1 earnings
South Korea's major companies reported weaker earnings than expected for the first quarter of the year, data showed Wednesday, which could further exacerbate the already-slowed local stock market.The data compiled by market researcher FnGuide show that 25 out of 72 firms that released their first-quarter earnings missed market estimates, most of them construction, shipbuilding and petrochemical firms.Samsung Heavy Industries Co., a major shipbuilder, reported an operating loss of 363 billion won
May 7, 2014
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Jury says Samsung, Apple both infringed patents
A jury awarded Apple $119.46 million, far less than it demanded, in a patent battle with Samsung over alleged copying of smart phone features, and the jury made the victory even smaller by finding that Apple illegally used one of Samsung's patents.The verdict was a far cry from the $2.2 billion Apple sought and the $930 million it won in a separate 2012 trial making similar patent infringement claims against older Samsung products, most of which are no longer for sale in the United States.The ju
May 3, 2014
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[Weekender] The rise of men
Women still spend more on luxury items, from Hermes handbags and Tiffany necklaces to Prada dresses, but a new report suggests that, in the future, growth for luxury goods will come from a new breed of consumer: the Yummy.HSBC coined the term “Yummy,” which stands for “Young Urban Male,” in its recent consumer report, saying that men were reshaping the retail landscape in the luxury and beauty markets. The yummy is already becoming a commercial reality in Korea. According to Shinsegae Department
May 2, 2014
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[Weekender] Booming market for men’s skin care
Korean men in their 20s and 30s are more interested in skin care ― the various products and treatments ― than anywhere else in the world, according to skin care product manufacturer Estee Lauder.“Healthy skin allows an individual to make favorable impressions on others while also providing that extra sliver of confidence, which are both important in this contemporary society driven by fierce competition,” Lab Series communications manager Kim Jung-sook told The Korea Herald.Changes in lifestyle
May 2, 2014
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Samsung, LG to set off smartphone display war
Samsung Electronics and LG Electronics are gearing up for a battle over high-resolution smartphone displays next month. Samsung is set to unveil its 5.2-inch Galaxy S5 Prime with a quad high-definition (2560x1440) display in June, according to recent media reports. “Samsung Electronics was supposed to use a QHD display for its Galaxy S5, but it failed due to the high cost. As the Galaxy S5 Prime will be rolled out in small quantities, it is highly likely that QHD will be adopted,” said an anonym
May 2, 2014
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Car sales edge up in April
Hyundai Motor, the nation’s largest carmaker, announced Friday that its sales in April increased 7.7 percent on-year to 440,194 vehicles, including 65,891 in Korea and 374,303 abroad. The carmaker performed strongly on its home turf, selling 12.9 percent more cars compared to the same period a year ago. The revamped Sonata sedan became the best-selling car in its debut month with 11,904 unit sales. The new Genesis, launched in December, also continued its upward trend with its sales more than do
May 2, 2014
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Shipbuilders slide on weak earnings
Shares of South Korean shipbuilders dropped on Friday as their worse-than-expected first-quarter earnings and dim outlook disappointed investors, analysts said. Shares of Hyundai Heavy Industries, the country’s top shipbuilder, closed at 188,000 won ($184) on the Seoul bourse, down 2.84 percent from the previous session’s close. Samsung Heavy Industries shed 2.03 percent at 27,550 won and Daewoo Shipbuilding & Marine Engineering also sank 4.85 percent to finish at 28,450 won.“A decline in shipbu
May 2, 2014
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Sales of red ginseng jump on Chinese tourists’ buying spree
Sales of red ginseng products more than doubled in late April from a year ago as Chinese shoppers went on a buying spree of the medicinal plant at duty free shops and department stores, the ginseng agency said Friday.Korea Ginseng Corp. said sales of its red ginseng products, including its flagship brand Junggwanjang, rose more than 60 percent to 13.7 billion won ($13.3 million) from April 25-29 compared with 8.3 billion won the same period of last year.Officials said the agency was banking on a
May 2, 2014
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Number of stock-rich children increasing: data
A 10-year-old boy who owns a staggering 15.5 billion won ($15 million) was among South Korea’s stock-rich kids whose number was at its highest as conglomerate owners and their relatives gave away stocks as gifts to their children, data showed Friday.The data compiled by market research firm Chaebul.com showed there were 126 children aged 12 or below who held shares worth at least 100 million won at the end of April, up from 118 a year ago. The figure marks the highest-ever on record, the data sh
May 2, 2014