Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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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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S. Korea, Singapore seal supply chain agreement
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Netflix, streaming platforms come under fire for loose ratings
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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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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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K-pop CEOs sidestep key issues at National Assembly audit
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Hyundai Doosan Infracore enjoys brisk sales in S. America
South Korean construction equipment maker Hyundai Doosan Infracore Co. said Tuesday it has won orders for 138 units of construction equipment from South America. Under a deal with Chilean wood maker Arauco, Hyundai Doosan Infracore will provide 60 excavators, the company said in an emailed statement. Another deal with Chile's major mining and construction company Besalco calls for Hyundai Doosan Infracore to ship 28 units of construction equipment, including excavators and wheel loaders. Hyun
Oct. 26, 2021
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Imported commercial car sales rise 14% in Sept.
Sales of imported commercial vehicles in South Korea rose 14 percent in September from a year earlier on recovering demand amid the extended coronavirus pandemic, an industry association said Tuesday. The number of newly registered imported commercial vehicles climbed to 412 units last month from 363 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Sales of all imported commercial vehicles increased last month on rising sales of MAN, Merc
Oct. 26, 2021
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Samsung Card net income gains 8.9% in Q3
Major South Korean credit card issuer Samsung Card Co. said Tuesday its net profit climbed nearly 9 percent in the third quarter of the year on a recovery in consumer spending. Consolidated net income stood at 139.5 billion won ($119.5 million) in the July-September period, up 8.9 percent from a year earlier, the company said in a regulatory filing. Operating profit swelled 11.5 percent on-year to 193.4 billion won, with sales soaring 21.8 percent to 940.3 billion won. The operating profit wa
Oct. 26, 2021
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SK hynix delivers solid Q3 performance on rising memory prices
SK hynix Inc., South Korea's No. 2 chipmaker, reported strong third-quarter earnings Tuesday on the back of solid memory chip demand and rising prices. Net profit for the three months that ended in September leaped by 205.7 percent from a year earlier to 3.31 trillion won ($2.8 billion). Operating profit came to 4.17 trillion won, the highest since the fourth quarter of 2018. Sales increased 45.2 percent to a record of 11.8 trillion won during the same period, marking the second consecutive qu
Oct. 26, 2021
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[Interactive] South Korea's dirty battle against urban sewage
Oct. 25, 2021
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LG Vice Chairman to take post as new CEO of LG Energy Solution
LG Corp. Vice Chairman Kwon Young-soo, second in command of LG after Chairman Koo Kwang-mo, will take a post as the new chief of LG Energy Solution. According to LG Energy Solution, it held a board of directors meeting Monday and decided to arrange a shareholders meeting on Nov. 1 to appoint Kwon as the new CEO. Kwon will be tasked with the successful management of joint ventures with major automakers including General Motors, Hyundai Motor and Stellantis as well as the delivery of a massive
Oct. 25, 2021
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Woori Financial Group Q3 net income up 58.1% to W824.7b
Woori Financial Group Inc. on Monday reported its third-quarter net profit of 824.7 billion won ($705.9 million), up 58.1 percent from a year earlier. Operating profit for the July-September period was 1.09 trillion won, up 61.8 percent from a year ago, the company said in a regulatory filing. Sales rose 102.3 percent to 8.68 trillion won. The operating profit was 12.8 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Ag
Oct. 25, 2021
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LG Chem Q3 net income up 19.2% to W679.9b
LG Chem Ltd. on Monday reported its third-quarter net profit of 679.9 billion won ($581.9 million), up 19.2 percent from a year earlier. Operating profit for the July-September period was 726.6 billion won, down 19.6 percent from a year ago, the company said in a regulatory filing. Revenue rose 41.4 percent to 10.61 trillion won. The operating profit was 20.3 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The e
Oct. 25, 2021
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CJ ENM says it's mulling taking over SM Entertainment, but no decision yet
South Korea's leading media and entertainment company CJ ENM said Monday it is considering acquiring K-pop powerhouse SM Entertainment, but nothing has been decided yet. "In order to strengthen our music content business, we are mulling taking over a stake in SM Entertainment or seeking other operating synergies," said the company, a content creating unit of South Korea's food and entertainment conglomerate CJ Group, in a filing. "But nothing has been determined yet." Over
Oct. 25, 2021
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S. Korea to hold K-Food Fair next month
South Korea plans to hold a food fair next month to promote the country's agricultural and other food products, and to help local companies' advance into the global market, the agriculture ministry said Monday. During the four-day K-Food Fair set to kick off Nov. 8 at the Convention and Exhibition Center in southern Seoul, some 200 local companies will present major export items, such as kimchi, pears and ginseng, according to the Ministry of Agriculture, Food and Rural Affairs. One-on-one onl
Oct. 25, 2021
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SolidEnergy Systems to unveil world’s largest lithium-metal cell for EVs
SolidEnergy Systems will unveil next-generation lithium-metal battery cells big enough to power electric vehicles next month, the Singapore-based battery firm said Monday. Large-size prototypes of the cells, not small samples made inside labs, will be presented at the inaugural Battery World, an event the company organizes to showcase its latest products. It will kick off at 11:00 a.m. on Nov. 4, Seoul time, and SolidEnergy Systems CEO Dr. Qichao Hu will appear. “It took us 10 ye
Oct. 25, 2021
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Posco Chemical to supply key EV battery materials to Norway's Morrow Batteries
Posco Chemical will supply cathodes and anodes, two crucial components of electric vehicle batteries, to Norwegian battery manufacturer Morrow Batteries, accelerating its push to expand its footprint in the European market. According to the refractory and secondary battery materials arm of South Korean steel giant Posco, the cathodes and anodes will go inside the batteries to be mass-produced by Morrow Batteries starting 2024, as part of an agreement signed by the two firms on Thursday. Morr
Oct. 25, 2021
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Posco Q3 net profit up 415.7% to W2.63tr
POSCO on Monday reported its third-quarter net profit of 2.63 trillion won ($2.2 billion), up 415.7 percent from a year earlier. The company said in a regulatory filing that it posted 3.12 trillion won in operating profit for the quarter, compared with 670 billion won a year ago. Revenue rose 44.7 percent to 20.64 trillion won. The operating profit was 9.7 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The est
Oct. 25, 2021
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Celltrion's coronavirus self-test kit gets FDA emergency approval
South Korean biopharmaceutical company Celltrion Inc. said Monday that its self-diagnostic kit for the novel coronavirus has won emergency approval from US drug authorities. Celltrion DiaTrust COVID-19 Ag Home Test, co-developed by local healthcare business Humasis, received the US Food and Drug Administration's Emergency Use Authorization approval. The product uses an antibody that specifically binds to the COVID-19 virus and detects infection within 15 minutes, Celltrion said. It is most sui
Oct. 25, 2021
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Citibank Korea to close retail banking 'in phases'
Citibank Korea Inc., the Korean unit of US banking giant Citigroup, said Monday that it will close its retail banking services "in phases" in line with a global business reorganization drive. Citibank Korea held a board meeting on Friday and made the decision to pull out from consumer banking in South Korea. In April, Citigroup said that it will exit consumer banking operations in 13 markets, including South Korea, as part of its global business reorganization. Citibank Korea's board
Oct. 25, 2021
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Samsung Heavy bags W971b order for 4 LNG carriers
Samsung Heavy Industries Co. said Monday it has signed a 971.3 billion-won ($825.2 million) deal to construct four LNG carriers. Under the deal with a shipper in Bermuda, Samsung Heavy will deliver the vessels by December 2024, the company said in a regulatory filing. The price per LNG carrier in the latest deal came to $206 million, the highest since 2015, Samsung Heavy Industries said. With the latest deal, the shipbuilder has won orders worth $11.2 billion so far this year, already surpa
Oct. 25, 2021
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Kakao Pay begins 2-day IPO subscription
Kakao Pay, the mobile payment service arm of Kakao Corp., South Korea's top messenger app, on Monday kicked off a two-day public subscription for its initial public offering (IPO), seen as this year's last high-profile share sale. Kakao Pay has allowed retail investors to subscribe to 4.25 million new common shares to be sold under the IPO slated for Nov. 3, or 25 percent of the total share sale. Kakao Pay has set the IPO price at 90,000 won ($76.5) per share, which will enable the company to
Oct. 25, 2021
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[Newsmaker] Authorities to begin looking into data to explain why Nuri launch failed
South Korea’s Science Ministry said Sunday that researchers will begin looking into why the country’s first domestically-built rocket Nuri, or Korean Satellite Launch Vehicle II, failed to put a dummy satellite into orbit in its maiden flight last week. The Korea Aerospace Research Institute that led the Nuri project will form a task force to examine data from the Oct. 21 test to determine what caused the shorter-than-programmed burning of the rocket’s third engine. 
Oct. 24, 2021
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[Battery+] Tesla’s battery shift highlights K-battery’s uncertain future
To take initiative in the premium electric vehicle market, where longer driving ranges serve as the barometer of competitiveness, the South Korean battery trio -- LG Energy Solution, Samsung SDI and SK On -- in recent years focused on developing more powerful lithium-ion batteries, pushing the limits of nickel ratio to the extreme. However, their unwavering faith in lithium-ion technology is being tested, after market leader Tesla announced on Wednesday that it will use a cheaper, safer alterna
Oct. 24, 2021
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Regulator takes action against Nissan, Porsche over false emissions info
SEJONG -- South Korea's antitrust regulator said Sunday it has decided to order Nissan Motor Corp., Porsche AG and their two Korean units to take corrective steps for falsified information over gas emissions of their diesel cars. Nissan Motor, Nissan Korea, Porsche and Porsche Korea are alleged to have stated false information about gas emissions of their diesel vehicles imported for sale in South Korea, according to the Korea Fair Trade Commission (KFTC). The KFTC also decided to impose a fin
Oct. 24, 2021