Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Golden chance to liquidate babies’ gold rings?
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Inflation eases in April, continues bumpy ride
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Race for EV charging stations intensifies for market dominance
Amid the global transition to electric vehicles, EV makers are moving fast to set up charging infrastructure in Korea not only to increase their sales but to gain dominance in a country where a no clear market leader has surfaced yet. For automakers, building recharging points, which are still in the nascent stage here in terms of both numbers and maintenance, has become pivotal to overcome EVs’ general and biggest weakness –- a short driving range. According to the governmen
Nov. 30, 2021
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Officials tout Laos as hidden gem for land developers
Laos is fast emerging as a land of opportunity for land developers, ahead of a highly anticipated launch of a new high-speed train connecting the Southeast Asian country with China next month. The Thatluang Lake Special Economic Zone, the only economic zone in the capital city of Vientiane, in particular, is expected to benefit, providing a boost for the local economy and luring foreign investors. Korean real estate investment firm D&C Mineun held a weeklong promotional seminar on Nov.
Nov. 30, 2021
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Seoul stocks dip to yearly low amid new COVID-19 variant scare
South Korean stocks tumbled to a 52-week low Tuesday as concerns over the potential impact of the omicron coronavirus variant continued to weigh on investor sentiment. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) plummeted 70.31 points, or 2.42 percent, to close at 2,839.01 points. Trading volume was high at about 968 million shares worth some 19.2 trillion won ($16.2 billion), with losers outnumbering gainers 874 to 48. Foreigners sold a
Nov. 30, 2021
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Hyundai E&C to sell new apartments in Pyeongtaek
Hyundai Engineering & Construction said it will begin sales of 698 new apartments later this month in Pyeongtaek, 70 kilometers south of Seoul. The apartments belong to a new estate named Hillstate Pyeongtaek The First, which will consist of a total of 1,107 homes between 59 to 84 square meters in size, and will mark the first sale of new homes in Seojeong-dong, Pyeongtaek in 14 years. Commercial areas around Songtan metro station and Seojeong-dong with banks, hospitals and the Songtan bra
Nov. 30, 2021
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[Interactive] S. Korea top Asian country in global innovation rankings
South Korea has clinched the top spot in Asia in a United Nations agency’s global innovation rankings, coming in fifth globally. In the World Intellectual Property Organization’s Global Innovation Index 2021, Korea was ahead of Singapore, Japan and China. It was behind Switzerland, Sweden, the United States and the United Kingdom. Korea, Asia’s fourth-biggest economy, was in 10th place last year. (Yonhap) By Nam Kyung-don
Nov. 30, 2021
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Dunamu to launch video chat metaverse platform
Dunamu, the operator of cryptocurrency exchange Upbit, said Tuesday that it has launched the beta version of its video chat metaverse platform, pushing the boundary between the real world and virtual reality. Metaverse refers to virtual communities that let users interact in real time. On 2ndblock, the metaverse platform, a video chat window automatically pops up when users’ avatars are close by, and users can see each other’s faces through webcams. They can also actively communic
Nov. 30, 2021
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Shinhan completes review of stablecoin cross-border transfer technology
South Korea’s Shinhan Bank said Tuesday it has completed its review of its cross-border wiring and transfer technology for stablecoins, but remained cautious on its actual adoption. Stablecoins are a form of cryptocurrency designed to have a stable value tied to traditional government-backed currencies, or to a commodity such as gold, to dodge the volatilities that Bitcoin and other cryptocurrencies have. “With the stablecoin transactions growing overseas, including JP Morgan&rsqu
Nov. 30, 2021
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SK Inc.-SK Materials merger paves way for W5tr investment in battery, chip, display materials
A merger between SK Inc. and SK Materials has been completed to pave the way for a 5 trillion won ($4.2 billion) investment in key businesses including battery, chip and display materials, officials said Tuesday. “By 2025, SK Inc. will invest a total of 5.1 trillion won into four key sectors -- battery materials, power and compound semiconductors, semiconductor materials and displays,” a company official said. The core business SK Inc. will absorb from SK Materials is anodes, on
Nov. 30, 2021
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Celltrion signs COVID-19 treatment supply contract with 9 European countries
Celltrion Healthcare has inked supply contracts for its COVID-19 antibody treatment Regkirona with nine European countries as of Monday, the company said Tuesday. Under the contract, Celltrion Healthcare, an affiliate of local biopharmaceutical company Celltrion, plans to roll out an initial supply of 150,000 vials of Regkirona to the countries before the end of the year. The amount is enough to treat 50,000 people. More supply orders of the antibody are expected to be placed in consideratio
Nov. 30, 2021
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Samsung unveils 5G chips for cars
Samsung Electronics said Tuesday it rolled out an automotive semiconductor chip that delivers a fifth-generational network connectivity for in-vehicle infotainment services for the first time in the industry. The newly-launched telematics control unit for cars, Exynos Auto T5123, aims to provide essential information to a vehicle in real-time via high-speed download speeds of up to 5.1 gigabits per second. Samsung said the new auto chip will allow passengers to enjoy high-definition content st
Nov. 30, 2021
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S. Korea, Britain seek closer cooperation in 5G, AI
South Korea and Britain have agreed to bolster bilateral cooperation in artificial intelligence and 5G on the sidelines of a tech forum, Seoul's ICT ministry said Tuesday. Lee Tai-hee, South Korea's deputy minister for planning and coordination at the science and ICT ministry, held talks with Chris Philp, parliamentary under secretary of state at the Department for Digital, Culture, Media and Sport, in London on Monday (local time) as he visited the Future Tech Forum. During their meeting, Lee
Nov. 30, 2021
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Smaller firms' exports hit new high this year
Exports by South Korean small and medium-sized enterprises (SMEs) have reached an all-time high this year amid a global economic recovery, government data showed Tuesday. As of Monday, local SMEs' overseas shipments exceeded the previous full-year record of $105.2 billion set in 2018, according to the data from the Ministry of SMEs and Startups, and the Korea Customs Service. Smaller companies' exports stood at $100.9 billion in 2019 and $100.7 billion last year. This year's SME exports accou
Nov. 30, 2021
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[Contribution] Forests and Glasgow Climate Pact
All 197 parties to the UN Framework Convention on Climate Change (UNFCCC) ended up coming to an agreement, the “Glasgow Climate Pact,” a day after two weeks of intensive negotiations over the course of the 26th Conference of the Parties of the UNFCCC (COP 26). Unlike before, forests have been included on the key agenda of the UN climate conference. At the World Leaders Summit “Action on Forests and Land Use” event, the “Glasgow Leaders’ Declaration” was
Nov. 30, 2021
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Overseas card spending down 14.8% in Q3 on weak won
South Koreans' overseas card spending declined 14.8 percent in the third quarter from three months earlier as the government tightened rules on withdrawals of money from automatic teller machines and the won depreciated against the dollar, central bank data showed Tuesday. According to the data by the Bank of Korea (BOK), the amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to $2.88 billion in the July-September period, down from $3.37 billion
Nov. 30, 2021
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Genesis unveils exterior of all-new G90 sedan
Genesis, the luxury brand of Hyundai Motor Co., on Tuesday unveiled the exterior images of the all-new Genesis G90 sedan ahead of its local launch next year. The G90 is a fully revamped model following its face-lift in 2018. Genesis plans to launch the flagship G90 sedan and its long wheelbase version in the domestic market early next year, a company official said. Under the brand's design philosophy of Athletic Elegance, the new G90 features an extension of Genesis' "two-line" de
Nov. 30, 2021
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[Graphic News] South Korea’s household debt-GDP ratio highest worldwide: report
South Korea has the highest ratio of household debt to gross domestic product among major economies in the world, a report showed, indicating it could crimp consumption and weigh on the economy down the road. The country’s household debt stood at 104.2 percent of its GDP as of end-June this year, the highest among 37 economies, according to the report by the Institute of International Finance. Hong Kong came next with 92 percent, followed by Britain with 89.4 percent, the United Stat
Nov. 30, 2021
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Seoul stocks open higher on eased omicron woes
South Korean stocks opened higher Tuesday as investors attempted to buy oversold stocks amid the potential impact of the omicron coronavirus variant. The benchmark Korea Composite Stock Price Index (KOSPI) rose 28 points, or 0.96 percent, to 2,937.32 in the first 15 minutes of trading. The new variant has not been detected in South Korea, which has been battling a recent surge of coronavirus cases. Global stock markets rebounded Monday, partly recouping their losses made last Friday amid inv
Nov. 30, 2021
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Industrial output falls by most in 18 months in Oct.
South Korea's industrial output fell by the most in 18 months in October as production in the manufacturing sector lost steam amid global supply chain bottlenecks, data showed Tuesday. Industrial output declined 1.9 percent in October from the previous month, a turnaround from a 1.1 percent on-month gain in September, according to the data compiled by Statistics Korea. It marked the largest on-month fall since April 2020, when industrial output fell 2 percent. From a year earlier, industrial
Nov. 30, 2021
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Banks' nonperforming loan rate down to record-low in September
The nonperforming loan rate of banks in South Korea fell to a record low in September due to the expanded provision of credit and debt rollovers for small businesses and merchants, the financial watchdog said Tuesday. The rate of bank loans more than three months overdue in interest or principle payment had stood at 0.51 percent as of end-September, down 0.03 percentage point from three months earlier, according to the Financial Supervisory Service (FSS). Compared with a year earlier, the rate
Nov. 30, 2021
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Korean businesses see no major breakthroughs in Japan ties
Most South Korean companies trading with Japan were pessimistic over the possibility of the two neighboring countries improving their chilled ties anytime soon, despite the urgent need to do so, an industrywide survey found Monday. According to the survey conducted by the Korea Chamber of Commerce and Industry, 92.6 percent of 202 domestic companies agreed that bilateral economic cooperation was absolutely necessary to facilitate trade between the two nations. But the majority of the firms s
Nov. 29, 2021