Most Popular
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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Samsung unveils 'personalized AI' for all devices
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Market uncertain on Korea's October rate cut despite slowed inflation
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Special counsel bill to probe first lady scrapped
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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Ministry seeks to selectively permit marijuana-based drugs
In South Korea, marijuana is a strictly banned substance. Even when the purpose is clearly medical, using and importing the herb in any form is a criminal offense. But this is set to change, as local drug regulators are moving to legalize some forms of medical marijuana. Korea’s Ministry of Food and Drug Safety said Wednesday that it had set out to amend the narcotics law to legalize the import of selected drugs made with chemicals extracted from marijuana that have been officially approved for
July 18, 2018
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Daewoong Pharma promotes botulinum toxin Nabota at IMCAS Asia
South Korea’s Daewoong Pharmaceutical said Wednesday that it has promoted the safety and efficacy of its botulinum toxin product Nabota that is approaching US approval during IMCAS Asia 2018, an annual aesthetic surgery and cosmetic dermatology conference, held in Bangkok, Thailand. At the conference, dermatology professionals who had taken part in the clinical trials for Nabota held in the US, Europe and Canada stressed how Nabota has strong clinical evidence proving its efficacy and safety, ac
July 18, 2018
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Private deals make up bulk of chaebol's internal trading: data
Private contracts accounted for the bulk of transactions among affiliates of South Korea's major family-controlled conglomerates in 2017, data showed Wednesday, fueling criticism of their shady business practices.According to the data from corporate tracker CEO Score, those units struck 93.7 percent of inter-affiliate transactions worth 161.4 trillion won ($143 billion) through closed negotiations last year, up 0.4 percentage point from the previous year. The tally covered 977 subsidiaries of 52
July 18, 2018
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Kakao's character licensing arm gets new name: 'Kakao IX'
Kakao Friends Corp., a character licensing arm under South Korea's top mobile messenger operator Kakao Corp., said Wednesday it has decided to change its name to Kakao IX after merging with JOH, a brand consulting firm, earlier this month.Kakao IX said its new name stands for "Innovative Experience," explaining that the title reflects the company's vision of providing new experiences to clients in their everyday lives. The company holds license over Kakao Friends, a group of popular characters u
July 18, 2018
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Processed food prices jump on rising costs
Prices of processed foods and eating-out costs in South Korea have been rising sharply this year due to increased labor and raw material expenses, industry sources said Wednesday.The government raised the minimum wage by 16.4 percent to 7,530 won ($6.48) per hour on Jan. 1 this year, the biggest hike in nearly two decades. Next year's minimum wage has been set at 8,350 won, up 10.9 percent from this year. (Yonhap)According to the sources from the convenience store industry, Ottogi Co., Korea's s
July 18, 2018
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#(NEW) [News Focus] LG Uplus to grow under leadership of new CEO Ha
[News Focus] LG Uplus to grow under leadership of new CEO Ha Kicker: Position swap at LG leads to numerous speculationsBy Song Su-hyunThe latest reshuffle of the top brass of LG Group is raising speculations regarding the future business strategies of the telecommunications unit and the possible scenario of the conglomerate’s future affiliate regrouping. A swap of positions was made between mobile carrier LG Uplus’ Vice Chairman and CEO Kwon Young-soo and holding company LG Corp.’s Ha Hyun-hwoi
July 17, 2018
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Coupang launches Coupang Partners for online affiliate marketing
South Korea’s e-commerce company Coupang said Tuesday it has launched an online affiliate marketing service called Coupang Partners. (Coupang)Coupang Partners aims to help content creators and social media influencers to monetize their online presence by promoting Coupang products and earn commissions, the company said. Coupang said a wide range of online channels can be used to promote its products, from blogs to social networking services like Facebook to corporate websites and mobile applica
July 17, 2018
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SK Group denies takeover of Asiana Airlines
SK Group, South Korea’s third-largest conglomerate by assets, denied that it had plans to acquire Asiana Airlines, in response to the Korea Exchange’s inquiry following media reports. (Sk Group) (Asiana Airlines)Local online news outlet News Tomato reported Tuesday that SK Group is considering the takeover, quoting a senior official of the group. It reported that the matter was discussed during a meeting of the SUPEX Council, the decision-making body of the group. The group’s appointment of for
July 17, 2018
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Food chains expanding self-service kiosks amid rising wages
Food chains in South Korea are rushing to introduce more self-service kiosks as part of efforts to cut costs amid the country's rising minimum wage, industry sources said Tuesday.The nation's tripartite wage commission of government, management and labor decided Saturday to jack up the minimum wage for 2019 by 10.9 percent to 8,350 won ($7.40) per hour from the current 7,530 won. The 16.4 percent increase rate for this year was the biggest in about two decades. (Yonhap)Lotteria, South Korean ret
July 17, 2018
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South Korea’s regenerated power use marks record high in 2017
The trade amount of electricity from renewable sources in South Korea hit an all-time high of 2.4 trillion won ($2.13 billion) last year, backed by President Moon Jae-in’s plan to expand renewable energy, industry data showed Monday. Regenerated power traded in 2017 jumped 20.1 percent on-year to 2.4 trillion won from 1.7 trillion won in 2016, according to data from the state-run Korea Power Exchange.Last year’s figure is over 40 times the 50.4 billion won seen in 2011.Out of the total 44.7 tril
July 16, 2018
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More office workers opt for quick, grab-and-go lunch: survey
More office workers prefer quick takeout food from convenience stores or coffee chains for their lunch hour, amid changes introduced in the country’s work culture with shortened hours, industry data showed Monday. (Yonhap)Convenience store chain operator CU said that at its 44 stores located in Seoul’s business districts Jung-gu, Jongno and Gangnam, sales of grab-and-go food went up by 30 percent from July 2 to 11, compared to the same period of the previous month. During this period, sales of
July 16, 2018
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E-mart cosmetics brand Scentence enters Saudi Arabia
South Korean discount chain operator E-Mart said its cosmetics brand Scentence will enter the Saudi Arabian market next week, opening the brand’s first store outside Korea. E-mart’s Scentence store at Al Nakheel Mall in Riyadh, Saudi Arabia (E-mart)The 66-square-meter store will open inside Al Nakheel Mall, which is operated by Saudi Arabian retail giant Fawaz Alhokair in the capital city of Riyadh.The store will have beauty products including facial serums, cleansers, hair and body care product
July 16, 2018
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Ratio of new regular workers at public agencies plunges in Q1
The ratio of newly hired regular employees at South Korea's public institutions fell sharply in the first quarter amid a jump in the number of indefinite-term contract workers, data showed Monday.According to the data from corporate tracker CEO Score and state portal All Public Information in One, 136 public firms and agencies with a workforce of 500 or more hired a combined 7,901 new employees in the January-March period.Of the total, slightly over 73 percent, or 5,778, were regular workers, wh
July 16, 2018
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Daimler Trucks Korea to join German dual vocational training program
Daimler Trucks Korea signed an agreement with the Korean-German Chamber of Commerce and Industry to collaborate on the German dual vocational training program Ausbildung on Wednesday in Seoul. The signing ceremony was attended by Barbara Zollmann, president and CEO of the Korean-German Chamber of Commerce and Industry, and Cho Kyu-sang, CEO of Daimler Trucks Korea. Barbara Zollmann (right), president and CEO of the Korean-German Chamber of Commerce and Industry, and Cho Kyu-sang, CEO of Daimler
July 15, 2018
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[IP in Korea] ‘Music copyright should evolve with digital revolution’
The Korea Herald is publishing a series of interviews with experts in the intellectual property sector. This is the 20th installment. -- Ed.For creators in the age of digitalization, copyright may be the single most important form of intellectual property, allowing them to make profits and stop their work from being used without permission. An excessive obsession with that second protective function, however, may undermine the essence of copyright, according to an expert on the digital music dis
July 15, 2018
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[Herald Interview] Hong Kong lures investment in AI, robotics
Hong Kong has long been a financial hub in Asia but it is now seeking investment to nurture innovative technologies such as artificial intelligence and robotics, said the head of an investment promotion agency in Seoul.“Hong Kong is now very much focused on innovation and technology. We genuinely think that greatly fits with Korea having very advanced companies in the areas -- both large and small -- at a global level,” said Stephen Phillips director-general of Invest Hong Kong, in an interview
July 15, 2018
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[Newsmaker] Unlikely alliance: Workers from rival airlines protest scandal-hit controlling families
They have been rivals for decades, but unionized workers from South Korea’s two largest airlines, Korean Air Lines and Asiana Airlines, found themselves seeking the same goal over the weekend -- seeing their chairmen resign.Chanting a slogan against the power abuse of Korean Air Chairman Cho Yang-ho and Asiana Airlines Chairman Park Sam-koo, employees of the two airlines held a joint rally in front of Cheong Wa Dae on Saturday evening.Employees of Korean Air and Asiana Airlines stage a protest i
July 15, 2018
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New LG chief opting for change over stability
Koo Kwang-mo, the fourth-generation leader of LG Group, appears to be seeking a rapid change in the top brass of the fourth-largest conglomerate in South Korea, making sooner-than-expected appointments for key posts at LG Corp., according to the industry on Sunday. The 40-year-old chairman reportedly appointed Kwon Young-soo, vice chairman and CEO of mobile carrier LG Uplus, as the CEO of holding company LG Corp., and is scheduled to discuss the appointment at a board meeting Monday. LG Corp. C
July 15, 2018
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Samsung Electronics to hand out record high incentive payments to partners
Samsung Electronics Co. plans to hand out record-high incentive payments for the first half of the year to its semiconductor business partners this month amid a boom in sales, industry sources said Sunday.The move reflects the continuing strength of the global super cycle for chips, which has helped Samsung post strong earnings so far in 2018. (Yonhap)The amount to be offered has not been announced, but it could exceed 22 billion won ($19.4 million), observers speculated. In the first half of l
July 15, 2018
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Employees of Korean Air, Asiana call for patriarchs to step down
Hundreds of employees at Korea's two largest airlines held a joint rally on Saturday, calling for the airlines' patriarchs to step down over a string of scandals that sparked a huge public outcry. It was the first time that employees of Korean Air Lines Co. and Asiana Airlines Inc. had held a joint rally, although some employees of Korean Air participated in rallies organized by employees of Asiana Airline earlier this month. Mostly wearing masks or sunglasses due to fears of retaliation, more t
July 15, 2018