Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Probe of first lady on Dior bag allegations set to begin
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Medical feud leaves hospitals in financial crisis
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'Queen of Tears' riding high on Netflix chart
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Chip up cycle won’t stay long: SK chief
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Beloved singer attracts fans, customers to JungKwanJang stores
Korea Ginseng Corp., a global leader in ginseng production, has significantly enhanced its brand positioning and visibility through its marketing strategies that prominently feature Lim Young-woong. Lim, a trot singer with an avid fan base, has recently been named the ginseng brand's brand model. The marketing campaign kicked off with the release of an advertisement featuring Lim on YouTube on Wednesday, which rapidly gained traction by accumulating over 2 million views within 40 hours. The
IndustryApril 29, 2024
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CJ's Tous Les Jours debuts in Cambodia
CJ Foodville said Monday it has opened two new Tous Les Jours branches in Cambodia, as part of efforts to broaden its foothold in Southeast Asia. The two new branches, which opened Friday in Kam Puchea Kroum and Toul Tom Poung in the country’s capital, Phnom Penh, mark the first locations for CJ Foodville to showcase the Tous Les Jours brand in the country. According to the company, both of the new branches feature a hybrid concept of cafe and bakery elements, boasting a selection of over
CompaniesApril 29, 2024
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[Photo News] Kumho in Europe
Kumho Tire held a brand experience day at the Vairano Circuit in Milan on April 21 to offer European dealers hands-on experiences with the Korean brand, the tire maker said Monday. The company plans to bolster its presence in the European market even further, as it has seen an average of 20 percent annual growth rate in its regional revenue over the last five years. The Korean tire maker has set out the record-high goal of reaching 4.56 trillion won ($3.3 billion) in annual sales this year after
MobilityApril 29, 2024
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SK Innovation's Q1 net loss widens on FX losses
SK Innovation Co., South Korea's leading refiner by sales, said Monday its net losses widened in the first quarter from a year earlier due mainly to foreign-exchange losses. Net losses deepened to 97.62 billion won ($71 million) in the first quarter from 51.95 billion won in the year-ago period, the company said in a statement. "A weak won, which drove up import prices of crude oil and decreased equity gains from SK On, weighed on the quarterly bottom line," a company spokesperson
IndustryApril 29, 2024
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[Herald Interview] Korean banks’ earnings dilemma: More profits, more responsibility
Korean banks may face diminishing profitability due to mounting pressure to take on social responsibilities amid the country's slowing economic growth, a senior official at global credit appraiser Fitch Ratings said. Commercial banks, often criticized for making money from excessively high interest rates, are facing stronger pressure from local authorities to return a portion of profits to the provision of public goods. “From the operating environment side, the pressure to commit to s
IndustryApril 29, 2024
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Seoul shares open higher on large cap gains
South Korean stocks opened higher Monday on large cap gains, tracking advances on Wall Street last week. The benchmark Korea Composite Stock Price Index added 13.6 points, or 0.51 percent, to 2,669.93 in the first 15 minutes of trading. The advance follows Wall Street gains last week. The Dow Jones Industrial Average closed 0.4 percent higher Friday, while the tech-heavy Nasdaq spiked 2.03 percent. In Seoul, most large caps were in positive terrain. Market bellwether Samsung Electronics went up
MarketApril 29, 2024
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KT launches new mobile plans for foreign residents
South Korea's leading telecom carrier, KT Corp., announced Sunday that the company will introduce new 5G mobile plans for foreign national residents starting Monday. “KT decided to introduce new mobile plans as there are not enough plans specifically for foreigners despite the increasing number of foreign residents in the country,” KT said. According to the Ministry of Justice, the number of long-term residents with nationalities other than Korean here grew to 1.9 million as of
IndustryApril 28, 2024
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[KH Explains] No more 'Michael' at Kakao Games
Kakao Games has decided to scrap using English names among its employees, becoming the first Kakao affiliate to backtrack on the IT front-runner’s attempt to make a more bottom-up working environment with open communication. Kakao Games CEO Han Sang-woo, whose English name is Michael, announced the decision in a meeting with employees on April 17, noting that there had been confusion as its workers had to use English names inside the company but went by their Korean names for external comm
TechnologyApril 28, 2024
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[Photo News] Shinhan supports families
Shinhan Financial Group Chairman Jin Ok-dong on Friday cleans up the home of a family with multiple children, as part of the group’s volunteer program to support financially vulnerable groups. Shinhan plans to donate 150 million won ($109,000) to aid financially vulnerable families with multiple children. Following Friday's activity, Jin noted, "Shinhan Financial Group will continue paying attention to families with many children and will spare no effort in addressing the natio
IndustryApril 28, 2024
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Samsung chief bolsters ties with Germany’s Zeiss
Samsung Electronics Chairman Lee Jae-yong met with top executives of German optics manufacturer Zeiss, a crucial partner for the Korean tech giant's push to lead the burgeoning market for artificial intelligence chips, during his recent trip to Europe. According to Samsung on Sunday, its chief toured the Zeiss headquarters in Oberkochen on Friday and discussed long-term partnerships with Zeiss Group CEO Karl Lamprecht and Zeiss Semiconductor Manufacturing Technology CEO Andreas Pecher. Lee&
IndustryApril 28, 2024
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Woori Financial jumps in race to take over Lotte Insurance
The competition to acquire Lotte Insurance, South Korea's seventh-largest nonlife insurer, is intensifying, with Woori Financial Group recently joining the race. Woori Financial Group's Chief Financial Official Lee Sung-wook stated Friday that the company is reviewing the acquisition of the insurer "to fortify our competitiveness in the nonbanking sectors." The remarks came during the company's quarterly conference call. The move represents Woori's effort to reenter
IndustryApril 28, 2024
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KT&G CEO highlights Indonesia as new global production hub
KT&G’s newly-appointed CEO Bang Kyung-man recently embarked on a business trip to Indonesia, a nation the company projects as a new production hub on the global stage, according to the South Korean cigarette manufacturer on Sunday. The business trip is Bang's first since assuming the role of CEO last month. Following shareholder approval during the company's annual general meeting on March 28, Bang, formerly the company's vice president, ascended to his new leadership
CompaniesApril 28, 2024
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Cost of eating up, particularly in Seoul: data
The prices of dishes at local eateries have been on the rise in South Korea, following the rising prices of agricultural, fishery and livestock products reported last week. According to the Korea Consumer Agency, an affiliate of the Korea Fair Trade Commission, the average prices for eight major dining options have all gone up in Seoul in March, compared to March of last year. In a bid to provide a general understanding of the dining costs in South Korea, the agency discloses the monthly average
ConsumerApril 28, 2024
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HD Hyundai CEO to co-chair WEF Special Meeting
HD Hyundai Vice Chairman and CEO Chung Ki-sun will serve as a co-chair of the Special Meeting of the World Economic Forum held in Riyadh, Saudi Arabia from Sunday to Monday. This session convenes 900 leaders from a broad array of sectors, including public and private enterprises, international organizations, NGOs, academia and civil society. The agenda is centered on addressing critical global challenges that are vital to sustainable growth: revitalizing global cooperation, fostering inclusive g
IndustryApril 28, 2024
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Nongshim launches dance challenge for new ramyeon products
Leading ramyeon producer Nongshim has announced the launch of a dance challenge event to mark the release of its latest products: Pu Phat Phong Guri Big Bowl and Kimchi Jja Guri Big Bowl. The newly launched products are inspired by Thai curry and Korean kimchi and pork stew, respectively. The product name "Guri" comes from the Korean word for raccoon, "Neoguri." The new initiative, tailored to resonate with the younger demographic’s love for dance challenges, also aims
IndustryApril 28, 2024
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More eateries went out of business in 2023 than pandemic years
Roughly 1 out of 5 businesses in the food service industry here went out of business in 2023 -- a higher rate than during the years of economic slump sparked by the COVID-19 pandemic -- according to figures disclosed by a local data analysis firm. According to Finda, 176,258 restaurants, takeout joints and food delivery locations across the country shut down for good last year, accounting for 21.5 percent of the 818,867 eateries in total. It implied that the food service industry had a worse yea
IndustryApril 28, 2024
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[Photo News] OLED train windows
LG Display said Sunday that it has delivered transparent organic light-emitting displays for the windows of the latest Great Train Express trains, the new high-speed trains connecting the Greater Seoul area. It is the first time that transparent OLED screens have been used in train windows here to display route maps and other entertainment content for passengers. LG has been supplying transparent OLED train windows to China and Japan since 2020, with plans to extend their applications to other i
IndustryApril 28, 2024
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S. Korean stock markets' trading volume down 11% in April
South Korean stock markets' trading volume dipped 11 percent in April from a month earlier amid growing uncertainties, including the geopolitical tension stemming from the Middle East, data showed Sunday. The combined daily average trading volume in the main Kospi, tech-heavy KOSDAQ and small businesses-focused KONEX markets, came to 20.2 trillion won ($14.6 billion) in April as of Friday, according to the Korea Exchange, the country's bourse operator. The amount marked an 11 percent d
MarketApril 28, 2024
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Naver’s Line ownership in jeopardy as Japan ups pressure
Concerns are mounting that Korean portal giant Naver may lose its management rights for Line, the immensely popular messaging app in Japan it has nurtured over the past 13 years, amid a rare intervention by the Japanese government. Since last month, Japan's Ministry of Internal Affairs and Communications has directed Tokyo-based LY Corp., the operator of Line, to lower its dependency on Naver in the wake of a data breach incident last year. Currently, almost 70 percent of the Japanese popul
IndustryApril 26, 2024
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Korea’s top finance firms put aside W1.7tr for Hong Kong-tied ELS compensation
Korea’s top finance firms -- KB, Shinhan, Hana, Woori and NongHhyup -- have set aside a total of nearly 1.7 trillion won ($1.2 billion) in reserve for the compensation of losses related to the misselling of equity-linked securities products tracking the Hang Seng China Enterprises Index in Hong Kong. While KB Financial Group, the top seller of the ELS products, set aside 862 billion won to cover the compensation, NongHyup and Shinhan each allocated 341.6 billion won and 274 billion won.
IndustryApril 26, 2024