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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Special counsel bill to probe first lady scrapped
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[Robert Fouser] Why the US election looks so close
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Samsung confused over Trump’s ‘thank you’ tweet
Expressing bewilderment, Samsung officials in Seoul on Friday remained confused over a tweet by US President Donald Trump that praised the South Korean tech giant for considering building a stateside factory.After news reports on Samsung’s plan to build a plant for home appliances in the US, Trump said in a Twitter message: “Thank you, @Samsung! We would love to have you!” (Yonhap)The South Korean company has neither tweeted back to Trump, nor denied the report.Rather than give a direct answer,
Feb. 3, 2017
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US eggs imported by sea for first time
South Korean shipping liner Hyundai Merchant Marine Co. said Friday that it has brought US eggs into the country to help ease a supply shortage caused by an avian influenza outbreak.A Hyundai Merchant ship carrying a total of 317,000 eggs that weigh 19 tons departed the US city of Seattle on Jan. 21 and arrived at the southern port of Busan on Tuesday, the company said. A total of 317,000 eggs shipped by South Korean shipping liner Hyundai Merchant Marine Co. await their quarantine process on Fe
Feb. 3, 2017
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Hankook Tire net jumps near 30% in 2016
South Korea's leading tire maker Hankook Tire Co. said Friday its net profit jumped nearly 30 percent from a year earlier in 2016, helped by a slight increase in sales and an apparent drop in costs.Net profit came to 853 billion won ($743.5 million) last year, up 29.9 percent from the previous year, the company said in a regulatory filing. (Yonhap)Sales gained 3.1 percent on-year to 6.63 trillion won, while operating profit spiked 24.7 percent to a little over 1.1 trillion won.In the fourth quar
Feb. 3, 2017
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[Weekender] The dangers of caffeine addiction
It is a well-known fact that Koreans love coffee. The dependence on caffeine to get though the day is spread among all age groups -- even teenagers reach for energy drinks to help them survive a stressful day of studying. However, such habits come at a cost.Research conducted by the Korea Consumer Agency revealed that approximately 60 percent of students that consumed energy drinks with a high caffeine content suffered various side effects.The intake of caffeine irritates the linings of the smal
Feb. 3, 2017
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[Weekender] A history of coffee in Korea
The history of caffeination in Korea is long and winding, beginning with a tragic king who became the country‘s first coffee lover while fleeing in wartime. After decades of serving as a vehicle of socialization at coffee shops, coffee moved into offices and homes with the introduction of instant coffee mixes. People went back out to coffee shops to get their java once Western-style takeout cafes were introduced and now coffee is coming back into the home with small, inexpensive espresso machine
Feb. 3, 2017
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[Weekender] Korea, caffeinated
Daniel Kim, a 26-year-old banker, is not a morning person.“I have a hard time getting my system started in the morning. So I always drop by this small cafe for a cup of large Americano on my way to the bus station,” Kim said.Choi Yoo-rim, a 17-year-old high school student, is an avid Red Bull drinker.“I can’t go a day without a Red Bull. It’s like the best invention ever. I can focus on my studies without dozing off. Getting good grades is really important for me right now, so I’ll worry about t
Feb. 3, 2017
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SK Innovation's 2016 net almost doubles on petrochemical biz, refining margin
SK Innovation Co., South Korea's top oil refiner, on Friday said its earnings nearly doubled last year from a year earlier, thanks to better-than-expected results from its petrochemical business and expanded refining margin.Net profit stood at 1.72 trillion won ($1.49 billion) last year, compared with a profit of 868 billion won a year earlier, the company said in a regulatory filing. (Yonhap)Operating income surged 63 percent on-year to reach a record 3.23 trillion won, while sales sank 18.3 pe
Feb. 3, 2017
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Lotte's board defers final decision on land exchange for THAAD
Lotte Group, which is to provide the site for South Korea to host an advanced US missile defense system, on Friday deferred a final decision on accepting a government-proposed land exchange.Group officials said the board of directors for Lotte International, the owner company of the golf course picked as the site, met for two hours to review exchanging the lot for land near Seoul. There was no decision from the meeting, they said. There was also no announcement of a second meeting. (Yonhap)"The
Feb. 3, 2017
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Asiana Airlines swings to black in 2016
Asiana Airlines Co., South Korea's No. 2 flag carrier, said Friday that it swung to the black last year with its operating profit surging more than fivefold from a year earlier, aided by low oil prices and cost-cutting efforts.Net profit came to 54.3 billion won ($47.3 million) in 2016, a turnaround from a loss of 139.2 billion won in the previous year, the company said in a regulatory filing. (Yonhap)Sales gained 4.5 percent on-year to 5.79 trillion won, but operating profit spiked 444.5 percen
Feb. 3, 2017
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Korea launches probe on P&G diapers for toxic chemicals
The South Korean government on Friday began a safety probe on diapers from Proctor & Gamble after allegations arose that they contain toxic chemicals.The Korean Agency for Technology and Standards is taking action on rising fears at home after French media reported that the diapers had dioxin, an insecticide substance. (Yonhap)"We will investigate if there are actually toxic chemicals, and if so, how dangerous they are," an agency official said. The agency will randomly take samples of the prod
Feb. 3, 2017
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Green Cross posts record revenue of W1.19tr
South Korean biopharmaceutical company Green Cross said Friday that it posted a record high revenue of 1.19 trillion won ($1.04 billion) in 2016, up 14.3 percent from the year before. However, the company said its operating profit dropped 14.4 percent on-year to 78.5 billion won, mainly due to increased spending on research and development. Its 2016 net profit reached 65.2 billion won, down 31.9 percent from 95.7 billion posted the previous year, according to the company.Green Cross credited it
Feb. 3, 2017
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Samsung, Japan's Murata in discussion over batteries for Galaxy S8
Samsung Electronics Co. has been in discussions with Murata Manufacturing about whether the Japanese company could supply batteries for Samsung's next flagship GalaxyS8 smartphone, an industry source said Friday. (Yonhap)The Galaxy S8 smartphone will replace Samsung's Galaxy Note 7, which was discontinued last year due to battery problems that caused some of the devices to catch fire. The discussions between Samsung and Murata recently took place, according to the source. After a months-long pr
Feb. 3, 2017
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Online shopping in Korea hits record high in Dec.
Online shopping in South Korea reached a fresh record high in December on the back of a steady upbeat trend of buying goods through computers and mobile phones, government data showed Friday.Total online transactions reached a record 6.2 trillion won ($5.4 billion) in December, up 15.4 percent from a year earlier, according to the data compiled by Statistics Korea. (Yonhap)It marked the highest monthly amount of online purchases, breaking the earlier record of 6.1 trillion won set in the previou
Feb. 3, 2017
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KT to showcase virtual reality luge at tech show in Spain
KT Corp., a South Korean telecom company, will showcase virtual reality luge at this month's annual technology fair in Spain, an industry source said Friday. The event appeared to be aimed at drumming up a marketing campaign for KT's technology ahead of the 2018 PyeongChang Winter Olympics, in which luge is a sport. (Yonhap)With a virtual reality headset, the device allows visitors to enjoy the sport of luge.KT also plans to introduce virtual reality contents on K-pop during the Mobile World Co
Feb. 3, 2017
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Top court clears railway strike leaders of obstruction charges
South Korea's top court on Friday upheld a lower court's decision to exonerate four former railway union leaders from charges of obstruction of business in connection with the 2013 railway strike against the privatization of railway services.The defendants, including Kim Myung-hwan, former chief of the Korean Railway Workers' Union, were indicted and detained in February 2014 on charges of disrupting railway operations by leading an illegal strike for 23 days in December 2013. (Yonhap)The bone o
Feb. 3, 2017
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S. Korea court to declare Hanjin Shipping bankrupt
South Korea's Hanjin Shipping -- once the country's largest shipping company and the world's seventh biggest -- is expected to be declared bankrupt this month, a court said Thursday, resulting in thousands of job losses. Hanjin filed for bankruptcy protection in August after creditors refused to further help the firm, which was sinking under the weight of $5.37 billion of debt.The company started going under after the shipping industry suffered its worst downturn in six decades owing to slumping
Feb. 2, 2017
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Amid scandal, Samsung heir to get hefty cash return
Buoyed by Samsung Electronics’ outstanding performance last year and a more generous, shareholder-friendly program, the tech giant’s de facto leader Lee Jae-yong is expected to enjoy a large cash return this year in contrast to the swirling corruption scandal that he is facing.The vice chairman of Samsung Electronics, who is the only son of the chairman, will get 46.8 billion won ($40 million) in dividend income this year, beating out other bigwigs including Hyundai Motor Group Chairman Chung Mo
Feb. 2, 2017
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Hyosung’s operating profit surpasses W1tr for first time
Hyosung announced Friday its annual operating profit surpassed 1 trillion won mark in 2016 for the first time in the company’s history. The company said in a regulatory filing that its annual sales inched down 4.2 percent on-year to reach 11.92 trillion won in 2016. Operating profit hit 1.02 trillion won in 2016, a 7 percent gain from a year earlier, the company said. Net profit was down 9.6 percent on-year at 475 billion won. The company, which leads the global spandex and tire cord markets, at
Feb. 2, 2017
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Coupang leaves social commerce
Coupang said Thursday it is ending its social commerce offerings to wholly transition into an e-commerce company.The company will be immediately discontinuing its social commerce deals, which included limited-time discount coupons for local restaurants and services such as beauty salons. Coupang began in 2010 as a social commerce company, meaning its main focus was on local service deals and group-buying coupons. In 2012, it began moving into the e-commerce space.“We decided that our open market
Feb. 2, 2017
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Amorepacific breaks W1tr in operating profit in 2016
Cosmetics maker Amorepacific released its fourth-quarter and yearly profits on Thursday, showing a drop in operating profits in the fourth quarter but a successful year overall.Amorepacific saw 1.56 trillion won ($1.36 billion) in sales in the last quarter, up 7.3 percent on-year. However, its operating profits fell 16.5 percent on-year to 134 billion won. Overall in 2016, the company saw a 18.3 percent rise in sales to nearly 6.7 trillion won, bringing its operating profits up 18.5 percent to 1
Feb. 2, 2017