Most Popular
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Exports to US reach all-time high, widen gap with China
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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[Music in drama] Rekindle a love that slipped through your fingers
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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On May Day, labor unions blast Yoon's foreign nanny proposal
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Seoul Metro to seek legal action against malicious complaints
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Illit, mired in controversy, remains on Billboard charts for 5th week
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[KH Explains] Will alternative trading platform shake up Korean stock market?
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S. Korea lowers COVID-19 warning level, lifts last-remaining antivirus mandates
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Samsung SDI replaces electric-car battery chief
Samsung SDI said Friday that it had recently conducted an executive-level reshuffle to appoint a new electric-car battery chief. According to the South Korean electric vehicle battery maker, the reshuffle included major posts -- chief financial officer, head of the medium-to-large-battery division and head of the small-battery division. Kwon Young-no, chief of the business management office, has been replaced by Kim Jong-sung, who had previously worked at Samsung Electronics’ video di
Jan. 8, 2021
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Industrial accident bill passes assembly despite brawl
The National Assembly on Friday passed a bill to enhance employer liability in industrial accidents, amid persistent backlash from business circles. The corresponding bill was laid out to the parliamentary plenary session in the afternoon and obtained 164 votes out of the 266 lawmakers attending, while 44 dissented and 58 abstained. Under these new enhanced rules, employers are to face a minimum jail sentence of one year or a maximum fine of 1 billion won ($915,751), should a deathly industr
Jan. 8, 2021
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Ssangyong Motor operations stay afloat, amid hopes of new investment talks
Ssangyong Motor is managing to keep its manufacturing operations afloat, as some suppliers are temporarily providing a minimal amount of necessary parts while the automaker works on finding a new investor. “Our manufacturing facilities are fully functional as sufficient parts are being supplied for now,” an official said. “But this is a provisional situation as no official deal has been struck regarding resuming the (once stalled) parts supplies.” In December, the carm
Jan. 8, 2021
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Former vice land minister tapped as Incheon Airport chief
Kim Kyung-wook, former vice land minister, has been nominated as president and CEO of the state-run Incheon International Airport Corp. to fill in the vacuum caused by the predecessor’s dismissal. The airport operator held a shareholders‘ meeting virtually on Thursday and agreed to nominate Kim as the sole candidate for the ninth president and CEO post, officials said Friday. The top post has remained vacant since Koo Bon-hwan was dismissed in September for neglecting his supervis
Jan. 8, 2021
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LG Electronics operating profit hits all-time high of W3tr in 2020
LG Electronics logged a record-high operating profit in 2020, surpassing 3 trillion won ($2.75 billion) for the first time in its history, the company said in its regulatory filing Friday. Its operating profit for the whole of last year has been estimated at 3.19 trillion won, breaking the previous record of 2.7 trillion won in 2018. Compared with a year earlier, the 2020 figure was an increase of 31 percent, the regulatory filing showed. The South Korean electronics maker’s gross an
Jan. 8, 2021
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KOSPI soars past 3,100 on Samsung, Hyundai Motor
South Korea's key stock index logged the largest daily gain in nearly seven months Friday, breaching the 3,100-point mark on stellar advances in market heavyweights such as Samsung Electronics and Hyundai Motor. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 120.5 points, or 3.97 percent, to close at 3,152.18 points, registering the largest daily jump since June 16, 2020. Trading volume was exceptionally high at about 1.3 billion shares
Jan. 8, 2021
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S. Korea to add 1.04 million new jobs in public sector
The South Korean government plans to create 1.04 million new jobs in the public sector in an effort to tackle the pandemic employment shock, according to the nation’s first vice minister of finance Friday. “To offer job opportunities to low-income households and young job seekers hit hard by the COVID-19 crisis, (the government) aims to create 1.04 million state-backed jobs by the end of this year, which is up nearly 10 percent from the previous year’s job-creating pr
Jan. 8, 2021
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LG Electronics to feature virtual human at CES 2021
LG Electronics Inc. said Friday it will feature a virtual human as a speaker at the world's largest tech expo next week as the South Korean tech powerhouse aims to show off its artificial intelligence (AI) capabilities. LG said an artificial human, named Reah Keem, will deliver a three-minute presentation at its press event for the all-digital Consumer Electronics Show (CES) 2021 on Monday. LG designed the virtual human as a 23-year-old female musician. It already has an Instagram page with mo
Jan. 8, 2021
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Bull market continues in US, S. Korea with Biden win affirmed
After US Congress confirmed Joe Biden as the presidential election winner, leading US stock benchmarks surged to record highs on Thursday (local time). South Korea’s main bourse also hit an all-time high in intraday trading on Friday. The Dow Jones Industrial Average, the index for 30 top-performing US firms, rose 0.69 percent to 31,041.13 while the tech-heavy Nasdaq Composite jumped 2.56 percent to 13,067.48. The S&P 500, which tracks the stocks of 500 large-cap US firms, increased
Jan. 8, 2021
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Pandemic presents best winter season ever for petrochemical industry
Major South Korean petrochemical companies such as Hyosung Chemical and Lotte Chemical are enjoying an unexpected sales boost, as the pandemic has driven up demand for polypropylene, a raw material for mask filters and syringes. “Winter season is typically an off-season for the petrochemical industry. However, thanks to the pandemic, favorable market conditions continue for the petrochemical industry, even better than its usual peak season,” said SK Securities analyst Sohn Ji-woo.
Jan. 8, 2021
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Samsung Electronics’ Q4 operating profit reaches W9tr
Samsung Electronics continued its strong performance in the fourth quarter last year, the company said in its regulatory filing Friday. Samsung Electronics estimated its Q4 operating profit at 9 trillion won ($8.2 billion), up 26.7 percent on-year. The company’s operating profit for the whole of last year is estimated at 35.9 trillion won accordingly, an increase of 29.4 percent from 27.7 trillion won in 2019. Compared with a quarter earlier, when the firm delivered an earnings surpris
Jan. 8, 2021
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Samsung Electronics accelerates auto parts biz with Harman’s new digital cockpits
Samsung Electronics’ wholly owned auto parts subsidiary Harman on Thursday unveiled new digital cockpit concepts that can turn a car into a gaming station, a concert hall or a studio office. At Harman ExPLORE 2021, held Thursday, the company introduced three new digital cockpits that offer customized in-vehicle experiences to drivers -- Gaming Intense Max, Drive-Live Concert and Creator Studio. “We believe cars should be for living, not just driving. We’re transforming the
Jan. 8, 2021
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LG unveils upgraded smart TV platform with new voice controls
LG Electronics Inc. on Friday unveiled its upgraded smart TV platform that will be used for its 2021 TV models as the South Korean tech company eyes to improve its software capabilities. LG, the world's second-largest TV maker, said the webOS 6.0 will run on its 2021 TV sets including OLED, QNED Mini LED and NanoCell TVs, and will feature enhanced voice controls and user-friendly interface. The latest smart TV system will have a new design of a home screen that will allow users to easily acces
Jan. 8, 2021
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Samsung unveils new Chrome OS-powered laptop to target online learning market
Samsung Electronics Co. on Friday unveiled a new laptop that runs on Google's Chrome operating system (OS) as the South Korean giant eyes to respond to the increasing popularity of distance learning amid the pandemic. Samsung's Galaxy Chromebook 2 is the industry's first Chrome OS-powered laptop with QLED display. The 2-in-1 notebook comes with a 13.3-inch QLED full HD display with a touch screen. The latest laptop also features "Smart AMP" sound, which runs up to 178 percent louder
Jan. 8, 2021
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Foreigners turn net sellers of S. Korean stocks in December last year
Foreign investors turned net sellers of South Korean equities in December last year, as they took profits from a recent stock rally, the central bank said Friday. Foreigners sold a net $2.36 billion worth of local stocks last month, compared with a net purchase of $5.07 billion in November last year, according to the Bank of Korea (BOK). Offshore investors also became net sellers of Korean bonds worth $170 million last month, the BOK said. Meanwhile, volatility in South Korea's currency fell
Jan. 8, 2021
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Doosan Bobcat buys stake in US radar maker Ainstein
South Korea's small-sized construction equipment maker Doosan Bobcat Co. said Friday that it has bought a stake in US radar maker Ainstein. Doosan Bobcat did not reveal the vale of the deal, or how much stake it bought in the US company, citing a confidentiality agreement with the US firm. The stake purchase is a preemptive move to dominate the unmanned small-sized construction equipment market, which has been growing at a rapid pace, Doosan Bobcat said. Ainstein, based in Kansas, offers a fu
Jan. 8, 2021
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S. Korea to jack up support for electric, hydrogen cars
South Korea plans to increase budgetary support for the purchase of electric and hydrogen cars by around 30 percent this year in a bid to nurture the next-generation vehicle sector, the finance minister said Friday. The country has set the non-memory chip, bio-health and next-generation vehicle sectors as the "BIG 3" industries that it seeks to nurture for job creation and innovation-driven growth. As part of such efforts, the country will spend 1.4 trillion won ($1.3 billion) to sup
Jan. 8, 2021
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LG Electronics teams up with Naver for remote learning service
LG Electronics Inc. on Friday said it has signed a partnership with South Korea's top internet portal operator Naver Corp. to enter the remote learning service business amid the pandemic. Under the deal, the two sides will develop a notebook dedicated to Naver's online education platform Whale Space. Tentatively named "Whalebook," it will be a cloud-optimized laptop powered Whale operating system (OS). The two tech firms also agreed to seek further business opportunities that can uti
Jan. 8, 2021
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Video streaming services focus on original content in S. Korea amid new competition
Video streaming services in South Korea are headed for heated competition this year as local media companies and global giants alike splurge on original content to take a solid position in the booming local market. Earlier this week, local media giant CJ ENM Co. said it is partnering with production company JTBC Studios to operate its over-the-top (OTT) service Tving. CJ ENM said the new joint venture will invest 400 billion won ($365.3 million) in production costs over the next three years in
Jan. 8, 2021
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Hyundai Motor in talks with Apple to make Apple Car
Hyundai Motor Group confirmed Friday that it was in negotiations with Apple to manufacture an Apple Car. “The negotiations are in the early stages, but nothing has been decided, including whether Hyundai Motor will supply auto parts or manufacture the whole car,” a Hyundai Motor official said. Apple is said to be in talks with automakers, including Hyundai, to avoid the costs of developing battery technology and establishing production facilities. Hyundai Motor and sister comp
Jan. 8, 2021