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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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First lady’s Dior bag scandal to be at center of Assembly audit
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Yoon honors veterans of Korean War in trip to Philippines
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Seoulites celebrate coexistence at Wellness Seoul 2024
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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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KAIST identifies interferon as trigger to COVID-19 inflammations
The Korea Advanced Institute of Science and Technology said Monday its researchers have identified interferon as the cause of cytokine storm in severely affected COVID-19 patients. Interferon is a type of cytokine that has been known to bring up antiviral defenses against infections. While they have been known as the good cytokines, the researchers at KAIST believe they may trigger adverse effects in COVID-19 patients. This finding may provide grounds for new treatment approaches that target
July 13, 2020
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Bio firms hope for faster research with ‘Cheomsaeng’ law in Aug.
A new law to fast-track the market entries of regenerative medicines and biologics drugs is to go into effect from next month. Relevant players in South Korea have been hoping the new rules will accelerate their development. To be effective starting Aug. 28, the new bio law, nicknamed the “Cheomsaeng” law, seeks to ensure the safety of and support for cutting-edge regenerative medicine and biologics drugs. “Cheom” is short for “cheomdan,” which means “c
July 13, 2020
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[News Analysis] Want to buy an electric car? Better wait a few years for high-nickel batteries
One life mission for automakers is to find electric vehicle batteries that are cheap, yet powerful enough to offer a long range, as they account for more than 40 percent of the total cost of a vehicle’s parts. Though the two goals may sound incompatible, theoretically it’s possible. Lithium-ion batteries consist of four key components: cathodes, anodes, electrolytes and separators. The cathode is what determines a battery’s energy capacity. In theory, when battery maker
July 13, 2020
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[Monitor] More companies encourage workers to use paid leave
The average number of days South Korean workrs will spend their summer vacation is slightly up from last year to reach 3.8 days, according to a survey of the Korea Enterprises Federation. According to its survey of 793 local firms with five or more employees, 58 percent of companies with 300 or more employees said they would allow employees to take five days or more for their summer vacations. Around 51.3 percent of companies with less than 300 workers said they plan to have workers to take a
July 13, 2020
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GS E&C to adopt four-legged robot ‘Spot’ on construction sites
GS Engineering & Construction said Monday that it will begin using a four-legged robot named Spot at its construction sites following successful trials. This is the first time the robot -- developed by American engineering company Boston Dynamics -- will be put to work on construction sites in South Korea, said the building company, which is teaming up with construction software startup Cupix. During the tests earlier this month, Spot was equipped with cutting-edge devices such as an inter
July 13, 2020
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[Monitor] Owners of multiple homes to face heavier tax burden
According to a new set of real estate regulations announced Friday, owners of multiple homes in certain high-demand areas of Seoul will face comprehensive real estate taxes in the range of 1.2 percent to 6 percent, resulting in a heavier tax burden, starting next year. Those who own homes whose total value is between 2.3 billion won and 6.9 billion won will have to pay double what they do now, based on the assumption that their value will increase 10 percent next year. The government also i
July 13, 2020
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Plasma COVID therapy pioneers seek more blood donors
Expectations are growing that South Korea will have plasma-derived COVID-19 therapy by the end of this year, but with the lack of blood donors, the deadline appears unrealistic. GC Pharma, which is leading the research and development of Korea’s plasma-derived therapy for COVID-19, aims to make its GC5131A pipeline commercially available this year. The drug will not eradicate COVID-19, but will lower the death toll among critically ill patients, a GC Pharma official told The Korea Herald
July 12, 2020
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[Advertorial] LG Chem announces ‘LG Chem Green Connector’
LG Chem, South Korea’s leading chemical company, has introduced its corporate social responsibility vision “LG Chem Green Connector,” the company announced on Monday. The chemical company’s new CSR vision focuses on education, environmental issues and others, according to the company’s announcement. To nurture future talents, LG Chemical is running a wide range of educational programs, to which it invites students and offers them resources for science education.
July 12, 2020
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[Weekender] Is she real? Artificial humans move to the fore
If the names Miquela or Imma ring a bell, you have been keeping up with the growing demographic of digital humans. Miquela and Imma are Instagram influencers, respectively followed by 2.48 million and 200,000 users. They are computer-generated imageries, but have pretty realistic personal descriptions. For example, Miquela is an American that hails from Los Angeles, California, who has Spanish and Brazilian heritage. Her passions are music and creating a world where women‘s voices are
July 11, 2020
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Nuclear commission recommends minor safety improvements for reactors
South Korea's nuclear safety agency on Friday recommended minor safety improvements for eight older reactors in service following stress tests carried out by its operator. The recommendation came after Korea Hydro & Nuclear Power Co., which runs the country's atomic power plants, conducted extensive safety inspections on such units as the Kori 2 and Wolsong 2 reactors from October 2016 through December 2018, the Nuclear Safety and Security Commission said. "Stress tests that reflec
July 10, 2020
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Samsung Electronics named most beloved brand in Asia for 9th year
Korean tech titan Samsung Electronics has been named Asia’s most popular brand for the ninth consecutive year, according to an international market report Friday. Samsung Electronics was listed top among 1,000 brands, according to the latest report by Campaign Asia-Pacific and Nielsen, which surveyed around 8,400 customers in 14 nations in Asia. Samsung Electronics was followed by Apple, Panasonic, LG Electronics and Nestle, the report said. Japanese tech firm Sony came in sixth place,
July 10, 2020
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[Monitor] Japan’s exports to S. Korea lowest in 11 years
Japan’s exports to South Korea have plunged in the wake of its export restrictions, data showed Thursday. According to the Korea International Trade Association and the Japan Customs Association, Japan’s exports to Korea stood at 329.3 billion yen ($3 billion) in May, down 18 percent on-year. The figure is the lowest in 11 years and three months since February 2009 when it reached 32 billion yen. By Shin Ji-hye (shinjh@heraldcorp.com)
July 10, 2020
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Google Korea pays W600b in penalty tax: sources
The South Korean unit of US tech giant Google Inc. has paid the local tax office 600 billion won ($501 million) in back corporate taxes, sources said Friday. Google Korea made the payment in January after the National Tax Service (NTS) slapped the penalty tax on the company for not paying proper taxes for profits generated in the country. Despite the payment, Google Korea has filed a complaint with the Tax Tribunal, which has yet to make a ruling on the case. The Tax Tribunal is recommended t
July 10, 2020
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NPS unloads NCSoft shares to buy Naver stocks
South Korea’s public pension fund National Pension Service unloaded its 0.6 percent stake in domestic game company NCSoft to acquire a 0.28 percent stake of nation’s top portal operator Naver, government data showed Thursday. According to regulatory filings, NPS sold off 54,438 shares of NCSoft on Tuesday and bought 452,938 shares of Naver on the same day. As a result, NPS’s stake in NCSoft fell to 11.82 percent from 11.22 percent while its stake in Naver rose to 12.84 pe
July 9, 2020
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Hanwha Energy bags 50MW solar power deal in Spain
Hanwha Energy said Thursday it has won a solar power plant deal with 50 megawatt capacity in Spain. According to the Hanwha Group affiliate, it has signed a contract with Spanish firm GRS for the construction of the solar power plant in Seville, Spain. The plant will be completed by the end of this year at the earliest. The Las Naranjillas plant, equipped with 121,800 solar modules, is expected to generate electricity enough for 13,997 households and reduce 51,977 metric tons of carbon dio
July 9, 2020
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S. Korea rolls out midterm plan to nurture materials, parts industries
South Korea will inject over 5 trillion won ($4.1 billion) in the materials, parts and equipment industries to ensure stable supplies for the nation’s key exports, officials said Thursday. Industry Minister Sung Yun-mo held a briefing at SK hynix’s headquarters in Icheon, in the presence of President Moon Jae-in. He introduced details of the government’s midterm plans designed to foster local manufacturers and researchers in the industries -- which depend highly on imports.
July 9, 2020
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South Korea’s heating tobacco product market to grow in 2020: research
While South Korea’s tobacco market is expected to decline overall, the sales of heated tobacco products will edge up this year, a market research firm said Thursday. According to Euromonitor International, the Korean tobacco market reached 17.19 trillion won ($16 billion) in 2019. Of the total, 1.89 trillion won was spent on heat-not-burn cigarettes, which put the country as the second-largest market in the world after Japan. The industry tracker forecast Korea’s heating tobacco
July 9, 2020
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Cosmetics makers' Q2 profits tipped to have fallen 20% amid pandemic: poll
South Korea's major cosmetics makers are forecast to have seen their operating profits fall nearly 20 percent in the second quarter from a year ago as sales at duty-free shops faltered amid the coronavirus pandemic, a poll showed Thursday. The combined operating profits of Amorepacific, LG Household & Health Care Ltd. and Aekyung Industrial Co. are estimated to have reached 319.2 billion won ($267.4 million) in the April-June period, down 19.3 percent from the previous year, according to t
July 9, 2020
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Bio associations to explain support plans for COVID-19 treatment, vaccine developments
Five bio associations in Korea and their 50-something member companies will discuss plans to support ongoing efforts to develop COVID-19 treatments and vaccines in Korea. The talks will be livestreamed on YouTube on Tuesday at 4 p.m. by the Korea Pharmaceutical and Bio-Pharma Manufacturers Association. The physical event will take place at KPBMA’s auditorium in Seocho-gu, Seoul. The Korea Biotechnology Industry Organization, Korea Biomedicine Industry Association, Korea Medical Devices
July 9, 2020
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Moon lauds materials industry progress
President Moon Jae-in on Thursday praised Korean industry’s progress in securing supply independence from Japan, and said he would shift his administration’s policies for the materials, components and equipment industries from a defensive to an aggressive footing in order to stabilize the global value chain. Moon visited the nation’s second-largest chipmaker SK hynix’s plant in Icheon, Gyeonggi Province, accompanied by the SK Group Chairman Chey Tae-won, to review the pr
July 9, 2020