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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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Firefighters’ 3,000 won meals spark nutrition concerns
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Korea’s exports bounce back despite coronavirus in Feb.
South Korea’s exports rose 4.5 percent in February from a year earlier, marking the first improvement after falling for 14 consecutive months, according to the Ministry of Trade, Industry and Energy’s report on Sunday. According to the data, South Korea’s exports in February increased by 4.5 percent to $41.2 billion, compared to $39.4 billion in the same month last year. The average daily exports went down by 11.7 percent to $1.83 billion, compared to the last month, t
March 1, 2020
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Spike in coronavirus cases disrupt Samsung, LG, Hyundai plants
The novel coronavirus is disrupting the plants of Korea’s major conglomerates, as new confirmed cases reported one after another involve their employees. On Sunday, Samsung Electronics confirmed its third case of COVID-19 infection, of a worker at its smartphone plant in Gumi, North Gyeongsang Province. The Gumi site produces next-generation smartphones such as the Galaxy Z Flip and Galaxy Fold. The assembly line where the employee worked is temporarily closed and expected to be fully
March 1, 2020
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Samsung’s Z Flip sells out in 9 minutes in China despite slow market
Samsung Electronics’ Galaxy Z Flip sold out in nine minutes in China on Thursday, despite dampened consumer sentiment worldwide due to the coronavirus outbreak. According to the Chinese electronics industry on Friday, Samsung began online sales of the Z Flip across China at 8:30 p.m. Thursday, and the clamshell-type foldable phone sold out in less than 10 minutes. Delivery will begin immediately. On the same day, Samsung began to take preorders for the Z Flip’s limited Thom Browne
Feb. 28, 2020
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Incheon airport’s duty-free store license auction falls flat for first time
The bidding for duty-free store licenses at Incheon International Airport failed to attract tenders to fill all of the cosmetics and apparel sections, the airport operator said Friday, the first time . According to Incheon International Airport Corporation, the operation licenses for two of the eight airside sections in the airport’s Terminal 1, DF2 and DF6, failed to attract bids. DF2 is designated for perfumes and cosmetics, and DF6 for apparel. IIAC opened the bidding on Wednesday,
Feb. 28, 2020
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Samsung apologizes for unauthorized access to employees’ donation records
Samsung Electronics and its 16 affiliates on Friday apologized for accessing employees’ records of donations to civil organizations without their permission. In a statement, they said the former control tower of Samsung Group -- called the Future Strategy Office -- had unauthorized access to the records of Samsung executives and employees regarding donations to 10 civic groups in May 2013. “The office defined the 10 civic groups as ‘rebellious’ and browsed employees&r
Feb. 28, 2020
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Initial sales of Galaxy S20 series downbeat amid virus fears
Sales of Samsung Electronics Co.'s Galaxy S20 smartphones were lackluster on their first day, 50 percent lower than their predecessors, amid the spreading coronavirus outbreak, industry sources said Friday. Samsung Electronics sold an estimated 70,800 units of the latest smartphone series in the domestic market on Thursday, sharply lower than first-day figures for the previous series, the Galaxy S10 phones, launched in March last year, according to industry insiders. The Galaxy S10 series s
Feb. 28, 2020
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LG, Woowa Brothers to collaborate on food robotics
Robots delivering food to doorsteps and serving tables at restaurants may not be that far in the future. LG Electronics and Woowa Brothers said Friday they will jointly develop food delivery-and-serving robots, combining LG’s artificial intelligence and automated indoor driving technologies with Woowa Brothers’ food delivery know-how. Woowa Brothers operates Baedal Minjok, Korea’s biggest food delivery app by market share. The unicorn was acquired by Germany’s Deliver
Feb. 28, 2020
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Celltrion begins research for coronavirus vaccine
Celltrion said Friday it has begun research for a drug candidate to fight the new coronavirus. The company has obtained a blood sample from a patient confirmed with COVID-19. Having discovered a drug candidate for the Middle East respiratory syndrome, the company will search for a new potential molecule that can help prevent the spread of the coronavirus. “We’re in the initial phase. It will take time for any results,” said a Celltrion official. “Since viruses mut
Feb. 28, 2020
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Korean companies join virus fight with relief goods
South Korean companies, although they are also feeling the pinch of the fast-spreading coronavirus, are rushing to join the nationwide virus fight with relief efforts, industry sources said Friday. South Korea has so far reported more than 1,700 COVID-19 cases, with most of them identified in the southeastern city of Daegu and surrounding North Gyeongsang Province. Samsung Group, the country's largest conglomerate, on Wednesday decided to donate 30 billion won (US$24.7 million) to the
Feb. 28, 2020
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[Weekender] Survival diary of Korean internet cafes
An internet cafe in South Korea goes by many names, but there is one unwritten rule that can’t change. PC room, PC bang or whatever they are called, fees must stay around 1,000 won ($0.85) per hour. “Long ago, when people played StarCraft, they were willing to pay 2,000 won per hour,” said Kwon Young-mi from the marketing team of Sante PC, the No. 2 PC room franchise with 147 outlets in Korea. “However, as franchised and large-scale PC rooms came in, competition g
Feb. 28, 2020
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Korea's Jan. industrial output edges up, virus fallout in store to hit hard
South Korea's overall industrial output rose in January, but the rapid spread of the new coronavirus is widely expected to have an impact on industrial activities this month, data showed on Friday. The country's overall industrial output continued to rise for a fourth straight month, posting a 0.1 percent gain in January from a month earlier, according to the data compiled by Statistics Korea. But production in the mining, manufacturing, gas and electricity industries fell 1.3 percent from a
Feb. 28, 2020
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GS Group donates W1b to fight spread of coronavirus
GS Group said Thursday it has donated 1 billion won ($820,000) to the Community Chest of Korea to prevent and deal with the spread of COVID-19 outbreak. “We hope that the donation will help the medical staff and victims who are struggling under difficult circumstances,” said Chairman Huh Tae-soo. “We will continue to do our best to support those vulnerable to the virus, especially in Daegu and low-income people who suffered from the contraction due to economic activities,&r
Feb. 27, 2020
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Co-working spaces could get unexpected boost from coronavirus outbreak
The ongoing coronavirus outbreak has created a new demand for global shared workspace provider WeWork in Korea, despite initial fears the outbreak would spook potential customers. WeWork, which currently operates 19 locations in Korea, told The Korea Herald on Thursday that Korean companies mindful of the COVID-19 epidemic are reaching out to WeWork for an alternative workspace. “Companies of all sizes and industries in the region -- members and nonmembers - have been reaching
Feb. 27, 2020
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Non face-to-face service spikes as coronavirus spreads
The COVID-19 outbreak has triggered a big demand on “untact” services, which do not require direct contact between businesses and customers, with large retailers expanding their stock for delivery. According to big data analysis firm Appminder, users of food delivery and online shopping apps increased significantly since Korea confirmed its first COVID-19 case on Jan. 20. Before the outbreak in Jan 17-19, about 2.73 million people used food delivery apps including Baedal Minjok a
Feb. 27, 2020
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Rents, commissions lowered as virus rages through economy
As the economy in Korea shoulders headwinds from weakened consumer sentiment due to the coronavirus spread, a number of companies and building owners are coming up with self-rescue measures to help prop up the ecosystem. Telecom giant KT announced Thursday it will reduce rents for three months for self-employed business owners at its buildings across the nation, which it believes will cost it 2.4 billion won ($1.97 million). KT said it wished to take on the social responsibility of sharing
Feb. 27, 2020
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Naver grants incentive stock options to employees
Korean internet and search giant Naver said it will grant stock options to its employees to purchase up to a total of 1.06 million stocks, the company said in its regulatory filing issued Wednesday late afternoon. The stocks that will go to the company’s employees account for 0.65 percent of Naver’s stocks, the company added. The stocks will be provided to 3,084 workers at a price of 186,000 ($153) won per share. The options are exercisable for a period of five years starting in
Feb. 27, 2020
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Komipharm stocks soar upon news of clinical trial application for coronavirus
Komipharm stocks hit the ceiling on Korea’s secondary bourse Kosdaq early Thursday, after the company said it applied for phase 2 and 3 clinical trials of its Panaphix drug for coronavirus as a potential treatment. The company said it will issue further notice if it gains the Ministry of Food and Drug Safety’s approval for final phase clinical trials targeting 100 coronavirus-confirmed patients. Investors should be aware that the possibility of any drug winning final commercializat
Feb. 27, 2020
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Hanjin Group to sell hotel assets for financial health
Hanjin KAL, the holding company of airline-to-logistics conglomerate Hanjin Group, said Thursday it was looking to sell its non-core hotel assets to improve its financial health and shareholder value. Hanjin KAL said invitations to bid for the assets had been sent to 12 firms including real estate consulting firms, accounting firms and asset management firms. On Feb. 7, the company decided during the board meeting to sell assets related to its loss-making leisure and hotel busines
Feb. 27, 2020
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LG Uplus signs global partnership on AR solutions
LG Uplus Corp., a major South Korean telecommunication firm, said Thursday it has signed a partnership with leading companies in the augmented reality (AR) sector to provide better services with its 5G network. LG Uplus said it has joined hands with AR software startup Spatial Systems Inc., mobile AR headset maker Nreal and mobile chipmaker Qualcomm Technologies Inc. to develop 5G-based AR collaboration solutions. Japanese telecom giant KDDI Corp. and Germany's Deutsche Telekom AG are also
Feb. 27, 2020
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[Graphic News] Samsung tops global TV market for 14th year
Samsung Electronics topped the global TV market for the 14th consecutive year in 2019, industry data showed Wednesday, on the back of robust sales of its QLED TVs. The South Korean tech giant took up 30.9 percent of the global TV market last year in terms of sales revenue, up 1.9 percentage points from a year earlier, according to data compiled by industry tracker IHS Markit. Samsung was followed by its local rival LG Electronics and Japan’s Sony. According to data, Samsung wa
Feb. 26, 2020