Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Korea enters full election mode
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Immigrant woman stabbed to death by Korean husband
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Court upholds jail term for man who attempted to murder ex-girlfriend
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[Newsmaker] Makers of Budweiser, Miller eye global merger
Bottles of Budweiser (right) and Miller beer. (Bloomberg)The makers of Budweiser aren't satisfied with being the kings of beer. They want an empire.Anheuser-Busch InBev, the world's biggest brewing company and the owner of Budweiser, announced Wednesday it wants to buy SABMiller, the second-largest brewer — and the maker of long-time rival brand Miller Genuine Draft.The deal would create a multinational behemoth valued at around $275 billion with annual sales of $73.3 billion, more than three ti
Sept. 17, 2015
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Iran attractive for S. Korean firms: official
A senior Iranian official on Tuesday welcomed South Korean investment in his country, saying the oil-rich nation has much to offer in the energy sector.Ali Asghar Arshi, a consultant to the deputy minister of Iran's Ministry of Petroleum, said his country will bring long-term benefits to South Korean and other foreign businesses because its oil and gas sectors offer high profit, low risk and attractive development opportunities.Iran, which has been under various international sanctions over its
Sept. 15, 2015
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Vietnam emerges as major export market for S. Korea
South Korea's exports to Vietnam have jumped this year despite a slump in other overseas markets, industry data showed Tuesday, prompting local firms to rush to strengthen business ties with their Southeast Asian counterparts. In the first seven months of the year, exports to Vietnam surged 29.9 percent on-year, emerging as a new major destination for South Korean goods, according to the data. Last year, the Southeast Asian country jumped up two spots to rank as South Korea's No. 4 export market
Sept. 15, 2015
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S. Korean firms urged to brace for slowing growth in China
South Korean companies should intensify their efforts to brace for a slowdown in China's growth, a report said Monday, amid worries that demand from the world's second-largest economy could shrink and hurt their business.The Chinese economy is showing signs of slowing down, ending its surprisingly fast growth pace in the past years. Concerns are rising that a fall in imports caused by less consumption and investment could hurt Korean companies, which heavily depend on trade with China, the count
Sept. 14, 2015
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China, U.S. rate woes weighing on global economy: ministry
A cooling Chinese economy and concerns over a U.S. interest rate hike are fueling global economic volatility that could pose challenges for the South Korean economy, the finance ministry said Monday.In a report to the National Assembly, the ministry said there are signs that leading economies such as the United States are shrugging off the lethargy of the past, but such positive developments are being offset by other negative ones. "The likelihood of a U.S. rate hike this fall and the decision m
Sept. 14, 2015
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[Newsmaker] Apple presses deeper with new iPhones
Apple is bolstering its money-pumping iPhone line while looking to dive deep into businesses with iPads and dominate living rooms with Apple TV hardware tuned to app-loving lifestyles.Tricked-out new iPhone 6 models, along with overhauled Apple TV hardware and iPad Pro tablets with enlarged screens, were major announcements at the technology titan’s media event Wednesday in San Francisco. Apple Senior Vice President of worldwide marketing Phil Schiller talks about the new iPad Pro during an Appl
Sept. 10, 2015
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Amazon hiring staff for new restaurant division in Seattle, New York
Amazon.com Inc is adding staff for a new division dedicated to restaurants in Seattle and New York, with indications the unit is trying to rapidly expand a meal delivery service, according to posts on LinkedIn and the company's jobs site.Amazon, which declined to comment on Friday, is best knownas a place to buy millions of products including books and electronics. It has increasingly moved into services, offering customers the ability to book everything from plumbers to local getaways.The onlin
Sept. 5, 2015
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U.S. employers add 173K jobs in August; rate falls to 5.1%
The U.S. unemployment rate fell to a seven-year low in August as employers added a modest 173,000 jobs, a key piece of evidence for the Federal Reserve in deciding whether to raise interest rates from record lows later this month.The Labor Department says the unemployment rate fell to 5.1 percent from 5.3 percent, the lowest since April 2008. Hiring in August was the lowest in five months, but the government revised up the June and July job growth by a combined 44,000. From June through August,
Sept. 4, 2015
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China probing brokers, regulators for possible stock crimes
Employees of one of China’s biggest securities firms and one current and one former employee of its market regulator are under investigation on suspicion of illegal stock trading, state media reported Wednesday, amid the collapse of a stock price boom.Three other brokerages announced they are under investigation for possible violations of rules on confirming the identities of customers.China’s main stock market index has fallen more than 40 percent since early June. On Wednesday, it fell another
Aug. 26, 2015
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China said to halt stock support amid intervention debate
China’s decision to halt intervention in the stock market this week reflects a debate at the heart of the country’s leadership on the role of markets in the world’s second-largest economy.Authorities have refrained from intervening so far this week as the Shanghai Composite Index tumbled at the fastest pace since 1996, according to people familiar with the situation.Some officials argue that market losses will have a limited impact on economic growth and the costs of support are too high, said o
Aug. 25, 2015
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China cuts interest rates in new bid to spur economy
BEIJING (AP) -- China cut interest rates Tuesday for a fifth time in nine months in a new effort to shore up slowing economic growth.The benchmark rate for a one-year loan will be cut by 0.25 percentage point to 4.6 percent and the one-year rate for deposits will fall by a similar margin to 1.75 percent, the central bank announced. It also increased the amount of money available for lending by reducing the minimum reserves banks are required to hold by 0.5 percentage point.The moves had been ant
Aug. 25, 2015
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Market rout deepens in Asia as stocks slide to a two-year low
Stocks plunged across Asia and U.S. index futures signaled more losses as the selloff in commodities deepened, sending South Africa’s currency toward its biggest drop in two years. The cost of insuring Asian debt jumped with the yen.All major Asian markets opened lower after U.S. stocks capped their biggest two-day retreat in almost four years Friday. Chinese equities plunged, while Japan’s Topix index closed in on a correction. The yen advanced with the euro amid speculation the global selloff
Aug. 24, 2015
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Japan's economy contracts in April-June quarter
Japan's recovery stalled in the April-June quarter, with the world's third-largest economy contracting at a 1.6 percent annual pace thanks to feeble consumer and corporate demand and slowing exports. The dismal data reported Monday was expected, based on earlier reported figures, but it raises the likelihood the central bank may opt for fresh stimulus measures in coming months. It also comes at an awkward time for Prime Minister Shinzo Abe, who has championed a strategy of heavy monetary sti
Aug. 17, 2015
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Greek lawmakers back 3rd bailout after all-night debate
Greek lawmakers approved their country's draft third bailout in a parliamentary vote Friday that relied on opposition party support and saw the government coalition suffer significant dissent.The vote came after a marathon all-night session marked by procedural delays and acrimonious debate over the three-year, about 85 billion-euro ($93 billion) rescue package that includes harsh spending cuts and tax hikes. Greece needs the money to avoid defaulting on its debts and securing its future in the
Aug. 14, 2015
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China fixes yuan stronger vs dollar, reversing falls
China's central bank on Friday raised the yuan currency against the US dollar by 0.05%, the national foreign exchange market said, ending three days of falls after a surprise devaluation.The daily reference rate was set at 6.3975 yuan to $1.0, up from 6.4010 the previous day, the China Foreign Exchange Trade System said. The rate was also slightly stronger than Thursday's close of 6.3982 yuan.The stronger fixing for the yuan came after the People's Bank of China(PBoC) reassured financial markets
Aug. 14, 2015
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[Newsmaker] Google turns a page with Alphabet
The surprise reorganization of Google under newly formed parent Alphabet gives the tech giant the ability to focus on its core business, while offering startup-like flexibility to its other projects.The announcement Monday of the new corporate structure was generally welcomed in Silicon Valley and on Wall Street, where Google shares shot up some 3.6 percent in early trade on the news.The plan calls for Alphabet to be the corporate parent, with an operating unit for Google and its related search
Aug. 12, 2015
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OPEC raises 2015 oil demand forecast despite bearish markets
VIENNA (AFP) -- OPEC on Tuesday revised upward its growth forecast for global oil demand in 2015 and maintained projected record levels of world consumption next year, despite turbulent market conditions spurred by financial instability in Greece and China.In its August monthly report, the Organization of the Petroleum Exporting Countries said it was expecting world oil demand to grow by 1.38 million barrels per day -- some 90,000 more than announced in its July estimates.The cartel also stuck t
Aug. 11, 2015
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Greece agrees on broad terms of new bailout package
ATHENS (AP) -- Greece has agreed on the broad terms of a new three-year bailout package with international creditors, with a few last details expected to be ironed out Tuesday.Finalizing quickly the deal for about 85 billion euros ($93 billion) in new loans would prevent the country from defaulting on its debts next week and secure its future in the euro."We are very close. Two or three very small details remain,'' Finance Minister Euclid Tsakalotos said as he emerged Tuesday morning from all-ni
Aug. 11, 2015
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China starts anti-dumping probe into electrical steel imports
China's commerce ministry said Thursday that it has started an anti-dumping investigation into imports of grain-oriented electrical steel from South Korea, Japan and the European Union. The Chinese authorities will investigate whether the imports of grain-oriented flat-rolled electrical steel from the three economies hurt the Chinese local industry, the ministry said in a brief notice. Electrical steel is used to make transformers, reactors, small electric precision motors, magnetic switches
July 23, 2015
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[Newsmaker] Apple under pressure even after record profit
Apple Inc., after posting its best fiscal third-quarter profit ever, is facing fresh questions over whether it can keep making hit products.An attendee takes a photograph with an iPhone of the Apple Watches during the Apple Inc. Spring Forward event in San Francisco, California. (Bloomberg)Even though iPhone sales climbed 35 percent to 47.5 million units in the period that ended in June, the result fell short of the 48.8 million shipments projected by analysts. That, plus a revenue forecast for
July 22, 2015