Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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S. Korea, Singapore seal supply chain agreement
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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‘Shanghai-H.K. connect a disaster for Korea’
The launch of the Shanghai-Hong Kong stock connect scheme will be a disaster for South Korea’s stock market, according to a local professor specializing in Chinese finance and business.“In the short term, there will be massive capital outflows from local investors who have not been able to make a profit here on account of the low interest rates and weak stock market,” said Jeon Byeong-seo, a professor at Kyung Hee University, in an interview with The Korea Herald. The Shanghai-Hong Kong stock co
Nov. 6, 2014
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Hyundai Motor shares dip on weak sales, exchange rate: analysts
Hyundai Motor’s share price on the Seoul bourse has plunged to its lowest level in four years, raising concerns about the carmaker’s fundamentals amid weak sales and unfavorable exchange rates, analysts said Thursday. “There are many unfavorable conditions that are pushing down the prices of Hyundai Motor stocks right now,” said Song Sun-jae, an analyst at Hana Daetoo Securities.Share prices of the carmaker nosedived to 149,000 won ($137) during Wednesday’s trading session at the main local bour
Nov. 6, 2014
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Creditors to shoulder potential debts of Taihan Electric: sources
Creditors of Taihan Electric Wire Co., one of South Korea's largest electrical materials manufacturers, have agreed to take responsibility for potential future liabilities in a bid to speed up the sale of the company, industrial sources said Thursday. The creditors, including Hana Bank, will take on Taihan Electric's potential debts, which have hampered the sales of the financially troubled company, with the aim of finalizing selling the company by January 2015, the sources said. Creditors
Nov. 6, 2014
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Samsung to revamp recruiting system
Samsung Group said Wednesday it would segment its recruitment procedures by job category instead of the written test-oriented system starting in 2015, amid mounting criticism that the current hiring method was stoking overly high social costs in the job market. Starting in the second half of next year, all Samsung applicants will be asked to hand in an essay on their desired field, along with their resume, as a prerequisite to the written test, known as the Samsung Aptitude Test, Lee Jun, Samsun
Nov. 5, 2014
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Ministry fires back at ‘Choinomics’ critics
The Ministry of Strategy and Finance issued a statement on Wednesday to refute claims that expansionary economic policies promoted by Finance Minister Choi Kyung-hwan to boost the economy are confusing the market. The statement came after the Wall Street Journal published an article titled “South Korea’s Confused Growth Plan” on Monday. The U.S. business daily said Choi Kyung-hwan’s road map for growth, dubbed “Choinomics,” is as disappointing as Japan’s “Abenomics” has proven to be.The article
Nov. 5, 2014
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Korean Air chairman criticizes IATA’s support for Asiana
Hanjin Group chairman Cho Yang-ho on Wednesday criticized the International Air Transport Association’s public support for Asiana Airlines at a time when the Korean government has been considering sanctions against the air carrier over a crash-landing accident last year.“Imposing sanctions on Asiana is the job of Korea’s Land, Infrastructure and Transport Ministry,” Cho told reporters while attending a Korea-U.S. Business Council meeting in Seoul. The Hanjin chairman is also leading the nation’s
Nov. 5, 2014
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BAT launches Dunhill superslim capsule cigarette
The Korean branch of British American Tobacco launched Dunhill’s first superslim cigarette that contains natural extracts on Monday. Dunhill master blenders created the cigarette, called Dunhill Fine Cut Switch 1MG, using only Dunhill’s finest-quality tobacco leaves grown in Maryland.It offers Dunhill’s unique premium flavor that makes a smooth transition into a cool and clean taste with just one quick crush of the capsule inside the filter. Its soothing fresh taste and pleasant aroma were espec
Nov. 5, 2014
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[Herald Interview] HanmiGlobal to enter U.S., Europe with wider portfolio
HanmiGlobal, South Korea’s leading construction management firm, is focusing on acquiring domestic and foreign engineering and architecture firms to widen its service portfolio. The firm, already a big name in Southeast Asia with multiple projects in the region, plans to enter the U.S. and Europe in the long term.Based on the growing global client base, HanmiGlobal’s ultimate goal is to become a total solutions provider offering a wider range of services in engineering and construction. “Our rec
Nov. 5, 2014
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Korea, Japan two-way trade down for third year
Two-way trade between South Korea and Japan has decreased for three years in a row, amid frosty relations and the weakening of the Japanese yen against the Korean won, data showed Wednesday.According to trade figures posted by the Korea Trade-Investment Promotion Agency, exports to the island nation fell 2.2 percent on-year in 2012, plunged 10.7 percent in the following year and were down 4.6 percent in the first nine months of this year. Imports from Japan were also down in the same period, wit
Nov. 5, 2014
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Hyundai Sonata poised to reclaim best-selling car title
The Sonata, Hyundai Motor’s midsize sedan, is poised to reclaim the best-selling Korean car title this year, after being outpaced by its smaller stablemate the Avante for the past three years, industry data showed Wednesday.According to figures from the Korea Automobile Manufacturers Association, domestic sales of the Sonata hit 88,485 units in the first 10 months of this year, up 16.8 percent from the year before.With sales amounting to around 8,000 units per month, the total number of Sonatas
Nov. 5, 2014
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Stock market turnover hits 2-year high in October
The turnover in the Korean stock market hit a two-year high in October amid increased market volatility and a relatively bearish run on the local stock market, data showed Wednesday. The average turnover on the main bourse amounted to 4.46 trillion won ($4.15 billion) last month, the highest since September 2012, when the comparable figure was 5.22 trillion won, according to the data compiled by the Korea Exchange, the bourse’s operator.When the corresponding figure on the secondary KOSDAQ marke
Nov. 5, 2014
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[Kim Ji-hyun] Interference in Asiana sanctions
In the 2012 film “Flight,” when the pilot Whip Whitaker (played by Denzel Washington) steps forward in a climactic scene to admit he was intoxicated while flying a faulty aircraft, I was on the edge of my seat, shouting out, “No, don’t do it!” The woman who everyone assumed had consumed the alcohol on that plane was already dead. Please don’t do it.But he did. The latest controversy over pending penalties for Asiana Airlines, Korea’s No. 2 carrier, somehow brought back memories of this movie. Th
Nov. 5, 2014
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Samsung ranks 97th out of 124 global firms in transparency
South Korean tech behemoth Samsung Electronics Co. has ranked 97th out of 124 multinational corporations worldwide in terms of transparency, a report by Transparency International showed Wednesday. The world's largest smartphone maker earned an average of 2.9 points in three transparency categories -- reporting on anti-corruption programs, organizational transparency and country-by-country reporting -- with 10 points assigned to each. Eni, an Italian oil and gas company, topped the list with
Nov. 5, 2014
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S. Korea pushes to win huge projects in Qatar ahead of 2022 World Cup
President Park Geun-hye asked Qatar's emir on Wednesday to allow South Korean companies to participate in huge infrastructure projects in the Gulf state as the two countries pledged to boost bilateral cooperation in health care and other issues. Park made the request to Emir Sheikh Tamim bin Hamad Al Thani, who is in Seoul on a state visit to South Korea, according to her office. Qatar is expected to place orders worth about US$100 billion in coming years to launch infrastructure and other h
Nov. 5, 2014
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S. Korean big businesses 31.8 years old on average: report
The average corporate age of South Korea's 500 largest businesses stood at 31.8 years, an indication of their growing maturity. According to data released Wednesday by CEO Score, an online corporate productivity evaluation site, the average age tallied represents a 4.9-year increase compared to 10 years earlier. Some 32.8 percent of them were set up less than 20 years ago, while 63 percent were spun off by older and larger companies or conglomerates. Only 12 percent were established from sc
Nov. 5, 2014
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LG, Google ink deal to share patent rights
LG Electronics Inc. said Wednesday it has signed an agreement with Google Inc. to grant each other the right to mutually exploit their patents, a move seen as a way to avert patent infringement suits. The cross-licensing agreement, signed by the two companies, includes sharing the rights for not only the existing patents, but also those that will be newly registered until 2023, they said. "(The deal) will reinforce our relationship (with Google) in making innovative products and technology
Nov. 5, 2014
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Samsung to introduce new recruiting system next year
Samsung Group, South Korea's top conglomerate, said Wednesday it will segment its recruitment procedures by job categories instead of the written test-oriented system starting in 2015, after criticism mounted that the current hiring method stokes too much social costs in the job market. Starting in the second half of next year, all Samsung applicants will be asked to hand in an essay on the field they want to work in, along with their resume, as a prerequisite to the written test, known as th
Nov. 5, 2014
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Won-yen rate hits 6-year high
South Korea‘s currency dipped against the U.S. dollar for the fourth consecutive day, hitting a more than seven-month low on Tuesday as sound U.S. economic data reinforced expectations about rate hikes by the Federal Reserve, while Japan and other major economies are on a course toward further monetary easing.The won finished at 1,076.50 won to the dollar, down 3.9 won from the previous session’s close, marking the lowest level since March 25 when it closed at 1,079.40. The local currency fell t
Nov. 4, 2014
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World Bank chief calls on North Korea to open doors
World Bank chief Jim Yong Kim was adamant that the multilateral organization could not support North Korea unless the country opened up its economy and joined the global community.Citing the case of Myanmar, he requested the communist country ― albeit indirectly ― to open up and enjoy the full benefits. “When Myanmar opened its economy, we were able to move very quickly in providing support for everything, from improving telecom and health sectors, reforming its government structure, and opening
Nov. 4, 2014
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Air France-KLM offers passengers better access to KTX
Air France-KLM Group, Europe’s largest airline, has expanded partnership with Korea’s railway operator Korail to offer passengers better access to the KTX bullet train. Since this summer, officials said, passengers traveling with Air France or KLM have been offered discount deals in using the KTX trains that connect Incheon International Airport and the southern port city of Busan. Air France-KLM is the first European air carrier to have inked a deal with Korail for passengers’ convenient use of
Nov. 4, 2014