Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul alerts overseas missions to NK terror 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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Over 60% of S. Koreans support W100m childbirth incentive: survey
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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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Samsung seeks to ‘copy and paste’ brain for chip design
Samsung Electronics and Harvard on Sunday introduced a new approach to mimicking the mechanism of a human brain on a memory chip. In a paper published in Nature Electronics, Samsung engineers and Harvard researchers explained how to create memory devices that can better mimic the unique computing traits of a human brain -- low power, facile learning, adaptation to environment and autonomy and cognition. The paper suggests copying the brain’s neuronal connection map using nano-electrod
Sept. 26, 2021
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Major carriers to see robust earnings in Q3 on increased cargo rates
South Korea's full service carriers, including Korean Air Lines Co., are predicted to post strong earnings in the third quarter of the year on the back of a rise in air cargo rates, analysts said Sunday. In a consensus estimate of 10 analysts by Yonhap Infomax, the financial news arm of Yonhap News Agency, Korean Air is forecast to record 176.8 billion won ($150 million) in operating profit in the July-September period, a turnaround from an operating loss of 31.4 billion won in the same period a
Sept. 26, 2021
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Court rules Samsung Securities must cover half of investors' damages in 2018 dividend error
A Seoul district court has ruled Samsung Securities Co. must compensate investors for half of their damages incurred due to a 2018 dividend error by an accidental stock issuance, judicial sources said Sunday. The Seoul Central District Court recently ruled partially in favor of three investors who filed damages suits against the brokerage firm for the "fat-finger" error caused by an official at the firm on April 6, 2018. If the ruling is confirmed, Samsung Securities must give between
Sept. 26, 2021
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LG Uplus to offer Disney+ to IPTV users
LG Uplus Corp., a major South Korean mobile carrier, said Sunday it will offer Disney+ through its internet protocol television (IPTV) platform as the flagship streaming service from US media giant Walt Disney Co. is set to launch in the country in November. The carrier said it has signed a deal with Walt Disney Company Korea so that Disney+ will be accessible from its U+tv platform, strengthening competitiveness against rivals KT Corp. and SK Telecom Co. LG Uplus already bundles Netflix with it
Sept. 26, 2021
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[Weekender] Metaverse: the new gold rush
A growing number of South Korean companies are turning to the metaverse to offer new services, promote their products and train their staff, ushering in what has been described as the “future of the internet.” BGF Retail, the firm behind convenience store chain CU, opened the second store on Zepeto recently -- a 3D avatar metaverse platform run by South Korea’s largest web portal operator Naver. Following the opening of the “world’s first” virtual store in A
Sept. 25, 2021
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Seoul stocks likely to move in tight range over Evergrande woes, virus concerns
South Korean stocks are likely to move in a tight range next week amid uncertainties from a Chinese developer's debt crisis and the local surge of new coronavirus cases, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,125.24 points Friday, down 0.49 percent from a week ago. Stock markets were closed Monday through Wednesday this week for the Chuseok holiday. The losses came as investors digested the U.S. FOMC meeting results that said the Fed could b
Sept. 25, 2021
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Elon Musk says chip shortage only 'short term'
TURIN (AFP) -- Tesla boss Elon Musk on Friday said that a global semiconductor shortage hitting car firms especially hard would be overcome soon. The chip drought is "short term, I think," the billionaire said in an appearance by video at Italian Tech Week in Turin. "There are a lot of chip fabrication plants that are being built," Musk told the audience of startups, investment funds and tech entrepreneurs. "I think we will have good capacity for providing chips by ne
Sept. 24, 2021
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China's central bank rules all crypto transactions are illegal
BEIJING (AFP) -- China's central bank on Friday said all financial transactions involving cryptocurrencies are illegal, sounding the death knell for the digital trade in China after a crackdown on the volatile currencies. The global values of cryptocurrencies including Bitcoin have massively fluctuated over the past year partly due to Chinese regulations, which have sought to prevent speculation and money laundering. "Virtual currency-related business activities are illegal financial acti
Sept. 24, 2021
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Samsung asked to reveal information about supply chains in US
Including South Korea’s Samsung Electronics, technology companies and automakers were asked to make efforts to improve transparency about their US supply chains during a meeting hosted by US Secretary of Commerce on Thursday, according to news reports. Samsung was among a list of companies including TSMC, Intel, Apple, Microsoft and some automakers, which tuned into the meeting held via teleconference, according to the reports. The companies were asked to submit documents including inf
Sept. 24, 2021
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Kakao Pay delays IPO plan on heightened consumer safeguards
South Korean mobile payment app operator Kakao Pay said Friday it has delayed its plan to go public yet again amid toughened consumer protection regulations in the domestic market. Kakao Pay, a 55:45 joint venture of internet giant Kakao Corp. and China’s Ant Group, has revised its prospectus to carry out its initial public offering process by three weeks. Its IPO size, at up to 1.53 trillion won ($1.3 billion) via 17 million new shares, will remain unchanged. According to the latest fi
Sept. 24, 2021
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Lotte Chemical to commit W49b to new ESG fund
Lotte Chemical said Friday it planned to commit 49 billion won ($41.7 million) worth of capital to a new fund dedicated to tackling environmental, social and governance issues. The money will go into a new 50 billion-won ESG fund, the course of four years, according to a disclosure submitted to the Financial Supervisory Service Friday. The fund will be managed by retail-to-chemical Lotte conglomerate’s early-stage investment arm Lotte Ventures, formerly known as Lotte Accelerator. Lotte
Sept. 24, 2021
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[Newsmaker] Mergepoint saga sparks flood of complaints in Aug.
Amid the snowballing fiasco of prepaid discount service Mergepoint that played out in August, the number of consumer requested consultations regarding the scandal marked more than 16,000, according to data provided by the Korea Consumer Agency and Korea National Council of Consumer Organizations Friday. The consumer consultation center operated by South Korea’s Fair Trade Commission received 16,188 inquiries from consumers requiring consultations about their complaints and damages over t
Sept. 24, 2021
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Gordon Ramsay to bring his burgers to Seoul
Michelin-starred chef Gordon Ramsay will open a Seoul branch of his famed burger restaurant at Lotte World Tower in Jamsil, southern Seoul, this December. The Seoul location will be the first Gordon Ramsay Burger in Asia, and the third branch to open globally. Ramsay rose to stardom as the iconic host of “Hell’s Kitchen,” an American cooking competition show that has aired since 2005. The British chef owns several restaurants under his name which, all together, have earned
Sept. 24, 2021
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Seoul stocks down for 2nd day amid virus woes, Evergrande uncertainties
South Korean stocks slumped for a second straight session Friday after the country's daily COVID-19 cases hit a record high, erasing gains from easing fears over China Evergrande Group's debt crisis. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 2.34 points, or 0.07 percent, to close at 3,125.24 points. Trading volume was moderate at about 738 million shares worth some 12.3 trillion won ($10.4 billion), with gainers outnumbering lo
Sept. 24, 2021
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LG Energy Solution jointly develops new solid-state battery
South Korea’s leading battery maker LG Energy Solution announced Friday that the company and UC San Diego have co-developed a new solid-state battery that is safer and more durable than existing ones. The research results have been published in Science, one of the top peer-reviewed academic journals, the company added. According to LG Energy Solution, the new solid-state battery, which uses both a solid state electrolyte and an all-silicon anode, has shown positive results during initi
Sept. 24, 2021
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Secondhand smartphone market sees growth in Korea
The secondhand smartphone market is enjoying a bump from recent releases of flagship models from Samsung and Apple. According to Bungaejangter on Friday, a South Korean mobile secondhand marketplace, the volume of transactions for used smartphones has reached some 100 billion won as consumers switched to new phones. Used phone transactions have become the most traded category on the platform during the first half of this year so far. The company said the “secondhand market has been energ
Sept. 24, 2021
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10 crypto exchanges file applications to register with KFIU
Ten cryptocurrency exchanges in South Korea have filed applications to register with the nation's anti-money laundering body to continue their businesses under tougher regulations, according to the body Friday. By Friday midnight, both foreign and local cryptocurrency exchanges targeting Korean investors are required to register with the Korea Financial Intelligence Unit (KFIU) and have real-name bank accounts. If they have no real-name bank accounts, cryptocurrency exchanges will be banned fr
Sept. 24, 2021
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S. Korea reports surplus in trade of intellectual property rights in H1
South Korea reported a surplus in the trade of intellectual property rights in the first half of this year, as exports of copyrights increased, central bank data showed Friday. The nation's surplus in the intellectual property account came to $850 million in the first half, compared with a deficit of $1.11 billion in the second half of last year, according to preliminary data from the Bank of Korea (BOK). It marked the first six-month surplus since the second half of 2019, when the nation rep
Sept. 24, 2021
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Lotte Department Store offers first-ever voluntary retirement
Lotte Department Store is offering its first-ever voluntary retirement since first opening 42 years ago. The operator of the department store chain, Lotte Shopping, said Friday it told employees that it will be “accepting voluntary retirement applications for the next two weeks” in an internal announcement Thursday. The restructuring program is particularly for staff members who have worked for the firm for more than 20 years. Around 2,000 employees meet this qualification, the
Sept. 24, 2021
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S. Korea's financial market stable but potential imbalance concerning: BOK
South Korea's financial market continues to be stable, but concerns remain over a build-up of financial imbalances due to surging home prices, the Bank of Korea (BOK) said Friday. In a regular report on financial stability, the BOK also called for vigilance against a rise in the debt of households and companies amid the COVID-19 pandemic. The nation's financial stability index shot up to 22.3 in April last year, breaching the lower boundary for a crisis warning, but it has since come down to
Sept. 24, 2021