Most Popular
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Korea enters full election mode
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Immigrant woman stabbed to death by Korean husband
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Lee Jong-sup resigns as envoy to Australia
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Yellow dust engulfs S. Korea, advisory alert issued
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Official campaigning kicks off for April 10 elections
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S. Korea to boost support for single-parent families
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Court upholds jail term for man who attempted to murder ex-girlfriend
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Kia EV9 wins world car of year
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Korea misses out on global bond index boost
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S. Korea's dependency on Japan materials, parts hits fresh low in 2021
South Korea's dependency on Japanese materials and parts fell to an all-time low last year following Tokyo's control of exports of key products bound for Seoul, the industry ministry said Monday. Imports of Japanese materials, parts and equipment came to $39.5 billion in 2021, accounting for 15.9 percent of South Korea's overall purchase of those goods, according to the data from the industry and trade ministry. The figure was down 1.3 percentage points from the previous year and the lowest sinc
Feb. 28, 2022
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S. Korea retains 5th place in global vehicle output: report
South Korea ranked fifth in terms of the global vehicle production last year, retaining the spot for the second consecutive year, amid efforts to minimize the fallout from the pandemic-caused global chip shortages, a report showed Monday. The combined vehicle output by South Korean carmakers, including Hyundai Motor Co. and Kia Corp., reached 3.46 million units as of end-2021, down 1.3 percent from the previous year, according to the report by the Korea Automobile Manufacturers Association (KAMA
Feb. 28, 2022
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Seoul stocks open lower amid Ukraine uncertainties
South Korean stocks opened lower Monday, as investors remained cautious amid the Ukraine tensions. The benchmark Korea Composite Stock Price Index (Kospi) retreated 9.61 points, or 0.36 percent, to 2,667.15 points in the first 15 minutes of trading. Stocks dropped as investors digest a new set of sanctions by the United States and Western nations on Russia over the Kremlin's attack on Ukraine. Most stocks retreated in Seoul, led by foreign and institutional sell-offs. Market bellwether Samsung E
Feb. 28, 2022
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Home transactions dip 54% in Jan. on lending curbs
Home transactions in South Korea tumbled more than 50 percent in January amid tough lending curbs and rising interest rates, government data showed Monday. The number of homes changing hands nationwide stood at 41,709 units last month, down 54 percent from a year earlier, according to the data from the Ministry of Land, Infrastructure and Transport. Compared with the previous month, the January tally was down 22.4 percent. The number of home transactions in the greater Seoul area, which includes
Feb. 28, 2022
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Booyoung offers scholarships to international students in Korea
Booyoung Group’s Woojung Education and Culture Foundation provided scholarships totaling 350 million won ($292,000) to 89 international students studying in Korea for the first semester of the 2022 academic year. The recipients are from 34 countries including Vietnam, Bangladesh, Uzbekistan, and Cambodia. Since 2010, the foundation has granted financial support to Asian, African and Latin American students on a semester basis. Scholarships worth 83 billion won have been gi
Feb. 27, 2022
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Market regulators, banks mull Ukraine contingencies
South Korea’s financial regulators have begun drafting contingency arrangements, such as ramping up market monitoring and readying market stabilization funds, to grapple with the impact of the Russia-Ukraine crisis, which has led the local stock market to shed 162 trillion won ($134 billion) over the last two months. “At alert level 2, we’re keeping an eye on the stock market and prepared to deploy our resources, should it need our intervention,” a source with knowledge
Feb. 27, 2022
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Hyundai E&C opens virtual model home for Songdo Hillstate Lake
Hyundai Engineering & Construction opened a virtual model home for its new Hillstate Lake apartment complex that will be constructed in Songdo, Incheon, the company said Sunday. The virtual tour delivers an immersive experience that allows customers to view a detailed profile of the floorplan. The service is available on the Hillstate Lake official website. The new build marks the fourth apartment complex of the Hillstate village in Songdo Landmark City, where the first three complexes
Feb. 27, 2022
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40% of young Koreans feel poor
Four out of 10 young Koreans consider themselves poor, citing familial transfer of wealth as a key factor aggravating the social divide, data showed Sunday. According to data from National Youth Policy Institute, 42.6 percent of 4,114 respondents aged between 19 and 34 said they think they’re are poor and of those, some 34.3 percent answered they believe that they won’t be able to get out of poverty. Only some 28.5 percent said they think they can. Some 41.4 percent said they earne
Feb. 27, 2022
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Hyundai’s Ioniq 5, Kia’s EV6 named most competitive EVs
Hyundai Motor Group’s electric SUV models Ioniq 5 and EV6 have been picked as the most competitive electric SUVs in a ranking by the German automotive magazine Auto Zeitung, beating the same segment models from Mercedes-Benz, Tesla and Polestar, the carmaker said. Auto Zeitung’s latest edition compared Hyundai’s Ioniq 5, Kia’s EV6, Polestar’s Polestar 2, Tesla’s Model Y and Mercedes-Benz’s EQB, based on the categories of driving comfort, powertrain, dr
Feb. 27, 2022
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Starbucks Korea donates Han Yong-un’s handwriting to mark Independence Day
Starbucks Korea said Sunday that it has donated a piece of calligraphy by Manhae Han Yong-un, a 20th century Korean Buddhist reformer and poet who also fought for Korea’s independence, to the National Trust for Cultural Heritage to mark the 103th anniversary of Korea’s Independence Movement Day that falls on March 1. The writing, which reads “Jeon Dae Beob Ryun,” has the meaning that a world of great truth does not settle but constantly evolves. As the only piece
Feb. 27, 2022
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Hana Bank to expand art wealth management
Hana Bank said Sunday it will expand its wealth management services to trading art pieces -- both physical and digital -- amid growing retail demand for alternative assets. Hana Bank has forged a partnership with Seoul Auction Blue, an online auction house, to jointly work on developing new businesses such as nonfungible tokens and metaverse platforms, and operating online education and community platforms on art. The two will also provide traditional art services including artwork sales, art
Feb. 27, 2022
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Posco Chemical to expand low-expansion anode production
Posco Chemical, the battery and chemical materials manufacturing arm of Posco Group, said Sunday it will expand investment in low-expansion anodes, a material needed for electric vehicle batteries. Low-expansion anodes are uniquely developed by Posco Chemical that enhance the safety, lifespan and charging speed but at a more affordable price, according to the company. The production expansion plan from the current 7,000 metric tons to 35,000 tons was approved by the board of directors o
Feb. 27, 2022
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[Photo News] ON VIENNA ROAD
Hyundai Motor Group’s hydrogen-powered fuel cell bus Elecity FCEV provides public transport in Vienna in this picture released Sunday. Austria’s public transportation corporation Wiener Linien began running the eco-friendly bus on its most crowded bus route, according to Hyundai. The Korean carmaker’s supply of Elecity FCEV is part of the Austrian government-led hydrogen infrastructure expansion project called HyBus Project. Starting with the delivery of three E
Feb. 27, 2022
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LG Innotek vows shared growth with partners
LG Innotek Co. signed an agreement with some 100 partner firms on financial, technological, management and educational cooperation on Thursday in its annual event for shared growth which it has held since 2010. This year, the IT components maker said it will start providing partner firms with expert consultations on environmental, social and corporate governance, and increase financial support for partners’ factory automation. LG Innotek said it will also offer partner firms knowhow on i
Feb. 27, 2022
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[MWC 2022] Samsung’s gadgets to clash with Chinese newcomers
Samsung Electronics expects the Mobile World Congress 2022 to become a proving ground for its newest 5G smartphones under the S22 series, with Chinese rivals heralding the launch of new phones in the same event in Barcelona, Spain. Samsung Electronics is the largest smartphone maker in Europe by shipments with a third of market share, but has seen its gap with Chinese competitors narrow. While Samsung‘s smartphone shipments in Europe surged 6 percent, its Chinese rivals such as Xiaomi
Feb. 27, 2022
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Samsung Electronics to showcase new Galaxy Book and more at MWC
Samsung Electronics Co. said Sunday it will showcase a new lineup of goods from flagship smartphones to laptops during the upcoming global technology trade fair in Spain. The Mobile World Congress (MWC) 2022 is set to take place from Monday to Thursday in Barcelona. It is one of the top three annual tech events in the world, along with the Consumer Electronics Show in the United States and the IFA in Germany. First, Samsung will hold the virtual "Samsung Galaxy MWC Event 2022," which w
Feb. 27, 2022
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[MWC 2022] Flying taxis, robots, XR: Korean telcos to unlock potential of future tech
One of the world‘s largest tech events, Mobile World Congress, is returning to Barcelona, and South Korea’s telecommunications firms this week are poised to showcase their future technologies for the next decade to come. Extending their network and connected intelligence technology with respective industrial partners, SK Telecom is set to boast underlying technology to enable flying taxis, while KT brings disinfection robots and LG Uplus presents Korean media contents that run on e
Feb. 27, 2022
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[Weekender] Available at touch of button, mental care apps empower patients
Han Na-yeon, a pseudonym for a 34-year-old office worker, experienced an anxiety attack during a job interview six months ago, almost having a breakdown in front of interviewers. This encounter preceded a months long period of depression and repressed anger. Beginning to wonder if she had anxiety or some other issue, she delved into various online communities in an attempt to get to the bottom of her problem. Following a readily available online test, she was presented with a diagnosis of atten
Feb. 26, 2022
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Trading of Seoul shares likely to be volatile next week amid Ukraine risks
South Korean stocks are expected to face highly volatile sessions next week as investors will pay keen attention to situations in Ukraine and the US Federal Reserve's updated stance on its monetary policy, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,676.76 on Friday, down 2.45 percent from a week earlier, amid jitters over the escalating tensions in Ukraine as Russia launched a military offensive in the East European neighbor. KOSPI rebounded on
Feb. 26, 2022
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Korea to launch W2tr biz support program to counter Russia-Ukraine crisis if needed
South Korea’s top financial regulator said Friday that a support program worth 2 trillion won ($1.66 billion) will be launched to cushion local businesses from economic woes stemming from the full-scale Russian invasion of Ukraine, if needed. “We will thoroughly review the extent of damages and the financial state of our exporters and importers to prevent any difficulties stemming from the Ukraine crisis,” Financial Services Commission Chairman Koh Seung-beom said at a joint
Feb. 25, 2022