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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Market uncertain on Korea's October rate cut despite slowed inflation
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Samsung unveils 'personalized AI' for all devices
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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[Robert Fouser] Why the US election looks so close
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Special counsel bill to probe first lady scrapped
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HNB e-cigarette competition heats up for big 3 tobacco firms
As interest and purchase of heat-not-burn e-cigarettes increases among South Korean smokers -- over 163 million packs of HNB cigarettes in less than a year --top tobacco makers operating in the country are engaged in a heated marketing war.The fierce competition between the three major tobacco companies here -- Philip Morris International, KT&G and BAT Korea -- are entering phase 2 since their respective launches of the HNB products last year, with each striving to appeal to customers with diffe
May 23, 2018
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Korea aims to reduce fine dust caused by coal power by 43%
South Korea will employ “strong measures” to reduce fine dust coming from coal power by up to 43 percent by early next year amid growing concerns of air pollution, the Trade, Industry and Energy Ministry said Wednesday.“We aim to reduce fine dust coming from coal power by up to 43 percent by the spring of next year, as it is the most urgent (to address air pollution),” said Paik Un-gyu, minister of the trade, industry and energy, at a thermoelectric power plant in Dangjin, South Chungcheong Prov
May 23, 2018
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GS E&C records W310b of pretax profit in Q1
GS Engineering & Construction said Wednesday that its first-quarter pretax profit recorded 311 billion won ($288 million), a 561 percent increase year-on-year.The company said its sales came to 3.1 trillion won, up by 15.8 percent on-year. With operating profit of 390 billion won, its pretax profit recorded 311 billion won. Both figures are the highest in the company’s history, it said.Some 1.9 trillion won came from obtaining new orders in the first quarter. (Yonhap)For 16 consecutive quarters
May 23, 2018
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Steak paired more with soju than wine: data
Contrary to popular belief, steak is paired more often with soju than wine in Korea, showed sales data from convenience stores here. According to convenience store chain GS25, soju, or Korean distilled liquor, turned out to be the alcohol that consumers bought the most with steak at its stores from April through May 15.Three different types of soju topped the list of alcoholic beverages bought with GS25’s recently launched steak product, which is a chunk of quick-frozen beef cut for one person.S
May 23, 2018
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Eating-out costs, food prices jump over past year
Eating-out expenses and prices of processed foods in South Korea have risen significantly over the past year, data showed Wednesday, in an additional burden to local consumers.According to the data from the Korea Consumer Agency, six out of the eight dishes most favored by South Koreans when eating out saw their prices go up over the past year.A bowl of cold noodles, or "naengmyeon" in Korean, carried a price tag of 8,692 won ($8.01) in the Seoul metropolitan area in April, up 9.7 percent from t
May 23, 2018
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Budget carriers' earnings take off in Q1
Budget carriers in South Korea saw their earnings more than double in the first quarter thanks mainly to their efforts to diversify air routes, data showed Wednesday.According to the data from industry sources, brokerages and the government, the combined operating profit of six low-cost carriers spiked 131 percent on-year to 186.1 billion won ($171 million) in the January-March period.The low-fare airlines registered total sales of 1.18 trillion won during the three-month period, up 34.2 percent
May 23, 2018
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Korea becomes first non-European Eureka partner country
Korea has become the first non-European partner country of Eureka, laying the foundation for Korean companies to jump into the global market.Eureka is the world’s largest research and development network set up in 1985. It is led by Germany and France with the aim of forming a market-oriented community and jointly developing industrial technologies. It has 45 European member nations. Korea joined the network in 2009 as an associate member and has since expanded its cooperation. In October, the E
May 23, 2018
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[Contribution] Korea sees the forests and the trees
The phrase “he can’t see the forest for the trees” refers to a person who is so bogged down in the minutiae of a problem that he cannot see the big picture. It happens to all of us; sometimes we are so caught up in our own little problems that we cannot see the real existential crisis looming around the corner. Taken more literally, we congratulate ourselves for planting a tree now and then (perhaps on Arbor Day or Earth Day), while we ignore the fact that the vital forests which sustain us all
May 22, 2018
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Korea to adopt neural machine translation for patent administration
South Korea will adopt neural machine translation technologies for its patent administration in partnership with the World Intellectual Property Organization, according to the Korean Intellectual Property Office on Tuesday. Neural machine translation is the latest translation technology with the potential to overcome many of the weaknesses of conventional phrase-based translation systems, according to KIPO. Currently, Google, Kakao and Naver are providing artificial intelligence translation serv
May 22, 2018
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Sales of jelly candies soar upon rising popularity among adults
Jelly candies are seeing increasing popularity among South Koreans, rising as an alternative for traditionally preferred hard candy and chewing gum, industry data showed Tuesday.According to a local confectionary company Orion, which sells steady-selling gummy sweets such as Mygumi, Jelly Worms and Jelly Bob, saw its sales of jelly candies jump by 65.4 percent over the past five years. 123RFIn March alone, which is considered peak season for confectionary firms since couples exchange gifts and
May 22, 2018
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[Photo News] LG Chairman Koo Bon-moo is laid to rest
LG CHAIRMAN LAID TO REST — Mourners pay their respects to LG Group’s late chairman Koo Bon-moo at the Seoul National University Hospital on Tuesday morning, before his body is moved to the cemetery. Tuesday marked the conclusion of Koo’s three-day funeral, which was attended by family members, business leaders and LG officials. Koo died at the age of 73 on Sunday morning, after a yearlong battle with brain disease. The remaining ceremony held at the cemetery was closed to the press upon the wis
May 22, 2018
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Department store sales bolstered by May holidays
Department store sales rose upwards this month on the strength of several family-oriented holidays and special occasions, retail industry data showed Tuesday.Numbers provided by major South Korean retailers showed Children's Day, which falls on May 5 every year, a substitute day off and May 8 Parents' Day that usually generates demand for gifts, all contributed to more consumption at department stores.In addition, Buddha's Birthday, which is a national holiday in the country and falls on Tuesday
May 22, 2018
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Hyundai cancels corporate overhaul plan on opposition
Hyundai Motor Co. on Monday canceled a key spinoff merger plan in a setback to its corporate restructuring amid stepped-up opposition campaigns by some investors.The decision comes as global hedge fund Elliott and proxy advisers such as ISS continued to take issue with the carmaker's proposed corporate governance overhaul plan, citing that the "unfair" swap ratio of stocks between the two major affiliates will hurt shareholders' value."In a new plan, we will fully reflect the views and advice th
May 21, 2018
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Ministry holds first regional IR for foreign companies
The Korean government held its first regional investor relations activities called the “caravan for foreign investment” in Changwon, South Gyeongsang Province, with the aim of helping to reach $20 billion in foreign direct investment for four straight years, according to the Ministry of Trade, Industry and Energy on Monday. The caravan for foreign investment refers to a government activity to help foreign investors solve their investment challenges and to encourage more, the ministry said. The e
May 21, 2018
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[Feature] Foodmakers fight the MSG fiction
At restaurants in South Korea, one can easily find lists explaining the origins of ingredients. And next to that, there are usually notifications that say, “We do not use MSG in our food.”Despite public perceptions to the contrary, repeated studies show the additive is not harmful, and may even be healthy as a salt replacement. Now foodmakers are trying to promote the additive as a low-sodium option, especially to younger consumers who don’t have negative preconceptions of it. 123RFMonosodium g
May 21, 2018
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Industry, political heavyweights pay respects to late LG chairman
South Korean business tycoons as well as heavyweights from the political circle continued to visit late LG Chairman Koo Bon-moo’s altar on Monday to pay their respects and offer their condolences. Koo died on Sunday morning due to illness. In accordance with the late business tycoon’s wish to hold a simple and quiet funeral, LG had said in a statement that Koo’s funeral would be carried out privately.Samsung Electronics Vice President Lee Jae-yong leaves after paying respect at Koo's altar set u
May 21, 2018
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GC Pharma establishes new vaccine development unit in US
GC Pharma, a South Korean biopharmaceutical company formerly known as Green Cross, on Monday announced the establishment of a new vaccine development unit, Curevo Inc., in the US. The new Seattle-based company will support GC Pharma’s next-generation vaccine development activities and the launch of a premium vaccine for shingles, according to the Korean drugmaker.For this task, Curevo has formed partnerships with global health organizations including the US-based Infectious Disease Research Ins
May 21, 2018
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Survey shows UK adults against tobacco plain packaging policy
One year on from the introduction of plain packaging for tobacco in the UK, new research commissioned by Japan Tobacco International and conducted by independent polling company Kantar TNS, revealed that the majority of the UK public are not supportive of the policy, JTI said Monday.A survey of 2,464 adults living in Great Britain in April found that majority were concerned that their government has imported a “failed policy” from Australia, without considering its potential negative effects.(12
May 21, 2018
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Late LG chief noted for foresight and perseverance
The late LG Group Chairman Koo Bon-moo was widely recognized for his business insights and perseverance, which created momentum that drove local home appliance manufacturer Lucky-Goldstar Group to become an innovative global tech giant in less than three decades.The 73-year-old businessman was also a rare figure among chaebol owners here -- especially in the wake of recent ethical and legal breaches by owner family members -- to be praised for his mild temper and humble character.News of his dea
May 20, 2018
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[News Focus] LG to face new management centering on heir Koo Kwang-mo
The nation’s fourth-largest conglomerate LG Group will face new management centering on its heir apparent Koo Kwang-mo after his adoptive father and group Chairman Koo Bon-moo died Sunday. Koo Kwang-mo is the son of the late Koo’s younger brother Koo Bon-neung. Under LG’s strict principle of excluding women from the management, Koo Kwang-mo was adopted in 2004 by the late Koo. The heir apparent, who is currently an executive at LG Electronics, was hurriedly appointed a member of the company’s bo
May 20, 2018