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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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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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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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Market uncertain on Korea's October rate cut despite slowed inflation
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[Robert Fouser] Why the US election looks so close
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Samsung unveils 'personalized AI' for all devices
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K-Food popular in ethnic markets in US
South Korea's food exports to the United States are expected to reach $1 billion for the first time this year owing to their brisk advances into ethnic markets, the Korea Agro-fisheries and Food Trade Corp.'s branch here said Monday. "Korean agro-fishery and food products, called K-Food, which have been mainly consumed by Korean residents in the US, are making aggressive inroads into the Chinese, Hispanic and Filipino markets," branch head Lee Joo-pyo said. A K-Food fair in Los Angeles (Yonhap f
March 28, 2017
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Sneakers sales rise sharply in 2016 amid growing popularity of running
Sales of sneakers rose sharply last year from a year earlier, industry data showed Tuesday, as health-conscious people of all ages are opting to run as an easy way to exercise.Sales of sneakers posted a whopping 96 percent rise last year from the previous year, according to data by online shopping mall 11Street. The comparable figure was three percent in 2015. (Yonhap)Gmarket, another online retailer, reported a 33 percent increase in the sales of sneakers last year from the previous year.The sh
March 28, 2017
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Rising import cost of fishery goods push up domestic prices
Local fishery prices have risen steadily in recent months, government data showed Tuesday, amid sharp increase in cost to import such goods.Prices of fishery products soared 6.4 percent in February from a year earlier, according to the data by Statistics Korea. (Yonhap)The comparable figures were 6.6 percent in January and 5.1 percent in November.The price hike is attributed partly to the climbing costs caused by declining catches abroad, a Statistics Korea official said. He cited abnormal weath
March 28, 2017
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Duty-free shops, hotels suffer dip in Chinese sales amid THAAD row
Duty-free stores and hotels in South Korea are suffering a dip in sales after China's travel agencies stopped selling trips to Korea early this month, industry sources said Tuesday, stemming from a diplomatic row over Seoul's deployment of a US anti-missile system. Lotte Duty Free, the No. 1 duty-free shop in the country, saw its sales from Chinese customers at key branches in Seoul and Jeju island tumble 40 percent between March 20-26, compared with a year earlier, heading for a cumulative 30 p
March 28, 2017
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New Samsung flagship's supply may fall behind demand
The supply of Samsung Electronics Co.'s upcoming flagship smartphone, presumably the Galaxy S8, may fail to meet demand due to the sluggish production of Qualcomm chipsets, industry sources said Tuesday.The outlook came as the new top-of-the-line model is expected to become the first smartphone to adopt Qualcomm's latest system on a chip (SoC), the Snapdragon 835. The models that will be sold in South Korea and some other global markets will come with Samsung's own Exynos 8895 that boasts simila
March 28, 2017
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Samsung to sell refurbished Galaxy Note 7
Samsung Electronics Co. said Tuesday it will seek to sell refurbished Galaxy Note 7s, an ill-fated phablet whose production was suspended last year due to safety issues.The South Korean tech giant said some 3 million units of the Galaxy Note 7 will be resold or rented out. (Yonhap)The smartphone maker launched the Galaxy Note 7 last year, but its sales were soon suspended on reports of some of the devices catching fire while being charged.The tech giant has been rolling out replacement programs
March 28, 2017
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China launches anti-dumping probe against S. Korean solvent
China's commerce ministry said Monday it has launched an anti-dumping probe into South Korean exports of a chemical product amid Chinese economic retaliation against South Korea.China also said methyl isobutyl ketone (MIBK) imported from Japan or South Africa is also subject to the probe that could last up to Sept. 27, 2018. (Yonhap)MIBK is used as a chemical intermediate, a solvent for manufacturing paints, rubbers, pharmaceuticals, other chemicals, and industrial cleaners, according to the Ame
March 27, 2017
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Transparency key to success to reforming big biz lobby group
Transparency will be the key goal sought by South Korea's troubled business lobby group to restore public confidence after its involvement in a massive corruption scandal that has engulfed the country in recent months, corporate sources said Monday.On Friday, the Federation of Korean Industries (FKI) came up with a set of "drastic" reform measures to transform itself into a transparent, consensus-seeking and research-focused entity. In this photo taken on March 24, 2017, FKI Chairman Huh Chang-
March 27, 2017
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KDB's Daddy-Long-Legs campaign continues
Korea Development Bank, South Korea’s policy bank, has made its eighth donation aimed at helping underprivileged students with their education, the bank said Monday. The bank donated 10 million won ($8,990) to “Daddy-Long-Legs Classroom,” an after school program that provides one-on-one sessions for students who come from a low-income household. Korea Development Bank’s Lee Dong-geol (right) delivers a donation of 10 million won to Kang Myeong-hee, the head of the “Daddy-long-legs Classroom” pro
March 27, 2017
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SPC readies launch of salad restaurant
Food group SPC said Monday that it is readying the launch of a new salad restaurant called Pig in the Garden, set to open April 3.The restaurant will be a fine casual salad restaurant mainly offering up fresh salad bowls and salad plates that combine fresh greens with grilled dishes. Construction is underway at the first Pig in the Garden branch in Yeongdeungpo-gu, Seoul. (SPC)The menu will also include popular dishes such as caesar salad and cobb salads, as well as seasonal salads like ricotta
March 27, 2017
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LG Electronics launches high-end shop in Qatar
LG Electronics Inc. said Monday it has opened a store in Qatar to promote its premium electronic goods, speeding up steps to tap deeper into the Middle East market.The shop will allow visitors to experience its high-end products, including the tech giant's Signature series of appliances. (Yonhap)The South Korean tech giant has been rolling out various marketing efforts in the Middle East, as well as Africa, to expand its presence there.LG Electronics already operates such premium shops in Iran,
March 27, 2017
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Seoul to sell naming rights for 58 additional subway stations
The government of Seoul plans to sell the naming rights for more than 50 subway stations this year to make up for losses in its subway operations.The Seoul Metropolitan Government said Monday that it will auction off the naming rights for 58 additional subway stations, including 23 on lines 1-4 and 20 on lines 5-8. Hongje Station of Seoul Subway Line 3 uses the additional name of Seoul Culture Arts University. (Seoul Metropolitan Government)A number of downtown and commercial hub area stations,
March 27, 2017
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Two-thirds of firms to increase facility investment this year
Two-thirds of South Korean firms plan to increase their spending on facility investment this year, a survey by the central bank showed Monday, as the nation's exports show signs of a recovery. The Bank of Korea said in a statement that 66.7 percent of the 271 manufacturers checked said they will invest more in facilities this year than in 2016. (Yonhap)The remaining 33.7 percent responded that their facility investment would fall in 2017, compared with last year. Of the firms that plan to incre
March 27, 2017
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Korea to set up W113.5b fund to help bio startups
South Korea will establish a 113.5 billion-won ($101.8 million) fund to nurture startups and venture firms in the bio sector to secure new growth engines, the science ministry said Monday.Under the comprehensive plan finalized during a government meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, the fund will be floated to help young jobseekers launch new startups and develop new bio technology, the Ministry of Science, ICT and Future Planning said. (Yonhap)The ministry
March 27, 2017
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Brokerage house condemns Samsung's delay in transition to holding firm
A local brokerage house on Monday criticized Samsung Electronics Co. for putting off its plan to adopt a holding-company structure, stressing the top smartphone maker should have been more cautious when approaching the issue.The tech giant said through a regulatory filing in November that it will seek a change in the management structure, which includes splitting itself into a holding company and an operating company to boost shareholder returns. (Yonhap)Last week during a shareholders' meeting,
March 27, 2017
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Korea's exports to FTA partners up 16.7% through Feb.
South Korea's exports to trade partners that it has free trade agreements with jumped 16.7 percent on-year in the first two months of 2017 amid a recovery in the country's total outbound shipments, customs data showed Monday.Exports to 52 countries that have open trade pacts with South Korea reached $59.7 billion in the January-February period, up from $51.1 billion tallied a year ago, according to the data released by the Korea Customs Service. (Yonhap)Imports rose 13.7 percent on-year to $45.4
March 27, 2017
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Premium smartphones take up less than 30% of Samsung's phone sales
High-end smartphones took up less than 30 percent of Samsung Electronics Co.'s combined sales of handsets, data showed Monday, although the figure is expected to rebound after the launch of the tech giant's upcoming new flagship model this week.According to the data compiled by Hana Financial Investment Co., premium models are estimated to have accounted for 29 percent of Samsung's combined smartphone sales in the January-March period. (Yonhap)It marks the first time that high-end devices, such
March 27, 2017
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Prosecutors question senior CJ executive over compromising videos of Samsung chairman
Prosecutors have recently questioned a senior CJ Group executive as part of a probe into whether the conglomerate was involved in the recording of compromising videos of Samsung Electronics Chairman Lee Kun-hee, a prosecution source said Sunday. The videos leaked to the media in July 2016 indicated Lee bought sex five times between December 2011 and June 2013 at his homes in southern Seoul. CJ, run by Lee‘s relatives, was part of Samsung before it broke off in 1993. At the time of the recording
March 26, 2017
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Hanwha Group supports Asian startups at BOAO
Hanwha Group hosted a roundtable discussion on the future of Asian startups to better create a business environment for budding enterprises in the region, on the sidelines of the annual BOAO Forum, officials said Sunday.Titled “From ‘Made in Asia to ‘Created in Asia,’” the South Korean conglomerate invited 20 startups from China, Japan, South Korea, India and Thailand, with Hanwha Chairman Kim Seung-youn’s second son, Kim Dong-won, managing director of Hanwha Life Insurance attending. The 32-yea
March 26, 2017
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NPS at crossroads over Daewoo Shipbuilding rescue plan
Amid questions being raised over its political neutrality, the National Pension Service is again standing at a crossroads that could determine a company’s fate – this time troubled shipbuilder Daewoo Shipbuilding & Marine Engineering. In the coming weeks, the state pension fund will have to decide on a debt restructuring plan for DSME proposed Thursday by the Financial Services Commission and the firm’s main creditors -- Korea Development Bank and The Export-Import Bank of Korea. The main credit
March 26, 2017