Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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First lady’s Dior bag scandal to be at center of Assembly audit
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Yoon honors veterans of Korean War in trip to Philippines
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[KH Explains] Can G-Star level up?
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Celltrion promises production of trial coronavirus vaccine by end-July
Celltrion Chairman Seo Jung-jin said Monday that the company will be ready to produce COVID-19 neutralizing antibodies by the end of July at the latest, at a capacity to cover 1 million people a month. The company’s researchers are currently working day and night without weekends, Seo said, saying that it may even be possible to begin human administration for clinical trials in mid-July. “It is our wish that Korea will become the first country to deliver a COVID-19 vaccine to th
March 23, 2020
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[Monitor] Consumer sentiment plummets over coronavirus spread
Consumer sentiment in Seoul has plummeted in the first quarter this year over the prolonged COVID-19 spread, a survey by the Seoul Institute showed. The research center under the Seoul Metropolitan Government said that the consumer sentiment index dropped 10.5 points on-quarter to 82.8. It was a 11.3 percent drop from the fourth quarter last year. The index over 100 means consumers are optimistic, and below are pessimistic. It is the first time in three years for the index to reach 80. Th
March 23, 2020
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More EVs with LG, Samsung batteries to receive subsidies in China
The Chinese government has allowed subsidies for electric vehicles equipped with South Korean batteries, lowering the threshold for foreign battery makers. According to the Korean Embassy in Beijing on Friday, Tesla’s China-made Model 3 EV sedan and Chongqing Jinkang’s pure electric SUV -- equipped with LG Chem and Samsung SDI batteries -- have been included on a whitelist for new energy vehicle subsidies announced March 6 by the Ministry of Industry and Information Technology of
March 23, 2020
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KAI to lease trainer jets to US despite losing contract to Boeing
South Korean aircraft manufacturer KAI said Monday that the US Air Force is planning to rent a small number of KAI’s advanced T-50A trainer jets until new trainer jets arrive from Boeing, the winner of the T-X trainer contest. According to a notice posted online by the US General Services Administration in January, the US Air Combat Command plans to contract Hillwood Aviation to provide four to eight of KAI’s T-50A Golden Eagle advanced jet trainer aircraft to help its aviators de
March 23, 2020
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Coronavirus dents market cap of major firms, exports
Major South Korean firms have suffered a sharp drop in market capitalization, losing a combined 266 trillion won ($207 billion) over the past two months since the country’s first confirmed case of coronavirus infection, latest data showed Monday. Local corporate tracker Korea CXO Institute surveyed the share prices of 100 listed Korean companies -- the top five in 20 industries -- for the 60 days starting Jan. 20, until Friday. Their market cap fell by 29.7 percent during the period,
March 23, 2020
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Tri-Stone Korea inks MOU with North Jeolla Province, Iksan
Tri-Stone Korea said Monday it has inked a memorandum of understanding with North Jeolla Province and Iksan City, for establishing a manufacturing facility in the Foreign Investment Zone. The low-carbon ferrochrome manufacturer -- a joint venture with PSITC -- said it signed the agreement on March 16 to enter the industrial space of 2.8 million square meters, stretching across Samgymyeon and Nangsanmyeon in Iksan. “Given the excellent location, adjacent to the Gunsan Port and Saemange
March 23, 2020
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Korean companies rev business engine amid ongoing coronavirus headwinds
Even as foreign companies across the globe are increasingly suspending operations of production facilities and offices, South Korean firms are once again gearing up for full business operations. Major Korean companies that had advised employees to work from home amid the spread of COVID-19 are now reopening offices as the situation in Europe and the US drastically worsens, hiking concerns of a global economic meltdown. Despite reports of global facilities shutting down, and the commercial p
March 22, 2020
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Renewable energy loses ground in Korea due to faulty policies
A significant portion of South Korea’s renewable energy is generated by a controversial material that emits more greenhouse gas than coal, government data showed, raising concerns over the sustainability of the domestic green industry. According to the Korea Energy Agency, compressed organic matter or biomass generated 6,620,283 megawatt hours of electricity in 2018, up 80 times from 83,015 MWh in 2012. Biomass accounted for 12.5 percent of total electricity generated by renewable ener
March 22, 2020
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Huawei donates 200,000 masks to Korea to help combat COVID-19
Huawei Korea said Friday that it has donated 200,000 face masks to help prevent the spread of COVID-19. Half have been delivered to the Korea Association of Welfare Institutions for Persons with Disabilities, and the rest went to the Daegu Metropolitan Office of Education, according to the company. The masks will be distributed to local students when schools start the new semester after the current delay. On March 6, Huawei Korea donated a total of 200 million won ($160,550) to support the
March 20, 2020
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Coupang provides free health counseling for delivery workers
Coupang has introduced new plans to boost the safety of its delivery personnel as of Friday. Coupang said it will provide remote health counseling service to all of its Coupang deliverymen and have their health checked by visits from health professionals on a regular basis. The company added that it will provide emergency care service for its deliverymen if they are confirmed with the coronavirus or under self-quarantine. Also, safety mangers will be deployed at all c
March 20, 2020
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[From the Scene] LG Chem shareholders meeting ends abruptly amid coronavirus fears
LG Chem’s shareholders meeting this year posed a real challenge to the company as attendees braved to gather amid the coronavirus outbreak at an auditorium in Twin Tower headquarters in Yeouido, western Seoul, Friday. The involved three steps: wearing masks first cleaned their hands with hand sanitizer, had their temperatures checked with a hand-held noncontact infrared thermometer and had to pass the final stage of a thermal imaging camera. Due to reinforced safety efforts amidst the
March 20, 2020
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Samsung bags new battery material deal
STM, a subsidiary of South Korean battery manufacturer Samsung SDI, has bagged a deal to sell electric vehicle battery materials to Cosmo Advanced Materials & Technology. According to industry sources, STM sold its precursor production line to Cosmo AM&T. The negotiation over the deal had been in process since last year. The size of the deal is unknown. A lithium-ion battery is composed of four main parts: cathode, anode, electrolyte and separator. Precursors are an intermediate pr
March 20, 2020
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KT’s new CEO meets with stock market experts amid stock price plunge
KT’s new CEO Koo Hyun-mo held closed-door meetings with stock market experts this week on the company’s future strategy following a plunge in share prices, industry sources said Friday. The meetings on Tuesday and Thursday came after the South Korean telecommunications giant’s stock fell below the 20,000 won ($16) bar amid the ongoing coronavirus crisis. KT’s stock sold for around 27,000 won at the end of 2019. But it failed to bounce back, even after the company chose
March 20, 2020
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Asiana Airlines to suspend all European routes from April
Asiana Airlines will halt all its European routes in April as the new coronavirus spreads fast and the continent closes its borders and restricts movement, the firm confirmed Friday. The decision comes after the European Union decided on Tuesday to block the entry of foreign travelers to Europe for 30 days to prevent the spread of COVID-19. According to the airline, service on the Incheon-Frankfurt route, the only European route it is still operating, will be halted from April 1 to April 16.
March 20, 2020
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Lotte head Shin Dong-bin to lead Japanese holding firm
Lotte Group announced Wednesday that Chairman Shin Dong-bin will head the holding firm in Japan, securing leadership of operations in South Korea and Japan, ending a six-year dispute with his elder brother Shin Dong-joo,. The Lotte Holdings board of directors in Japan decided to appoint him as chairman effective April 1. Lotte Holdings had operated under the leaderships of Lotte’s late founder Shin Kyuk-ho and Vice Chairman Dong-bin. The post was vacant since the founder was named hon
March 19, 2020
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Shilla Duty Free also closes its doors at Gimpo Airport
Hit by a sharp drop in the number of passengers flying in and out of Gimpo International Airport amid COVID-19 concerns, Shilla Duty Free said Thursday that it will temporarily close its store at Gimpo International Airport until March 28. This follows another duty free operator Lotte Duty Free’s decision last week to close its store at Gimpo International Airport amid dwindling sales. Industry sources said that Lotte saw its sales plummet from daily sales of 200 to 300 mill
March 19, 2020
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Hanwha Defense beefs up online effort to win Australian defense deal
The Australian subsidiary of South Korean defense company Hanwha Defense has launched a web portal as part of an effort to supply military land systems to the Australian Defense Force. Recently, Hanwha Defense Australia opened Australian Industry Portal as foreign defense contractors are required to outline how they would contribute to Australia’s defense activities and how they would cooperate with local companies, according to Hanwha Defense. The AIP is expected to support Hanwha&rs
March 19, 2020
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Sharp dip in oil prices weighs on Korean firms
The sudden plunge in oil prices -- following the coronavirus outbreak -- is taking a toll on the South Korean economy, denting many key industries. The hardest hit are the oil refining, construction, shipbuilding, steel and consumer goods sectors. Low oil prices, once considered a boon for the transport industry, are no longer beneficial amid falling consumption and travel restrictions. In recent months, oil prices have dropped, mainly due to the global economic slowdown caused by the pan
March 19, 2020
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Samsung releases 2020 QLED TVs
Samsung Electronics launched nine models of 2020 quantum-dot light-emitting diode TVs on Thursday. The company said it has expanded its QLED 8K models by twofold from before, to increase consumer options and its dominance in the 8K TV market. The 2020 QLED 8K from Samsung Electronics are categorized by series names QT970S, QT900S and QT800, offered in screen sizes ranging from 55 to 85 inches. The smallest 55-inch model will launch within the first half of the year, Samsung said. The most
March 19, 2020
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Three weeks into telecommuting, I called a psychiatrist
As a journalist, my job is to get around. The ideal rut of this job is to be constantly on foot, meet people, glean information, fact-check, and package the story in a way you, reader, would find relevant and stay to read to the end. But truth be told, like many others in South Korea right now, I haven’t been getting around much. Not since the COVID-19 outbreak here took a serious turn for the worse. It will soon be a month since I started telecommuting and social distancing. I’m
March 19, 2020