Most Popular
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Allegations surrounding BTS resurface, enraged fans demand apology
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'Super Rich in Korea' will leave viewers appreciating Korea more: producers
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Probe of first lady on Dior bag allegations set to begin
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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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[KH Explains] Can tech firms' AI alliances take on Nvidia?
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With Indonesia unable to pay full share, what’s next for KF-21 fighter project?
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Speaker floats dual citizenship as solution to falling births
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Samsung Biologics Q1 earnings hit all-time high
Samsung Biologics, a leading contract development and manufacturing organization, announced Wednesday that the company’s earnings in the first quarter this year hit an all-time high. In the January-March period, Samsung Biologics’ sales increased by 31.3 percent on-year to 946.9 billion won ($690 million) from the previous year’s 720.9 billion won. Its operating profit also reached 221.3 billion won, up 15 percent on-year. “The operation of the fourth plant has largely co
IndustryApril 24, 2024
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SK Leaveo to produce biodegradable wet wipes
SK Leaveo, a subsidiary of South Korean chemical giant SKC specializing in biodegradable materials, has formed a partnership with paper product manufacturer KleanNara to create a new line of biodegradable hygiene products, starting with eco-friendly wet wipes. Under a newly signed agreement on Wednesday, SK Leaveo and KleanNara will focus on producing hygiene products that are not only sustainable but also practical for everyday use. The collaboration aims to harness new materials such as poly
IndustryApril 24, 2024
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Orion's Turtle Chips sales soar in US
The popularity of the Orion brand's Turtle Chips continued to grow in the US last year, boosting its annual sales to around 12 billion won ($8.8 million). Orion, a South Korean confectionery and snack manufacturer, is supplying the chips at the snack bars of major firms such as Google and Netflix, the company said Wednesday. According to Orion, the annual sales of Turtle Chips in the US reached 12 billion, around 200 times higher than the figure in 2017 when the company first launched the s
IndustryApril 24, 2024
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Seoul shares jump 2% on rally in techs, batteries
South Korean stocks soared 2 percent Wednesday as tech, secondary battery and other market heavyweights rallied following overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 52.73 points, or 2.01 percent, to 2,675.75. Trade volume was moderate at 319 million shares worth 10.06 trillion won ($7.34 billion). Winners outpaced losers 610 to 270. Institutions and foreign investors combined bought a net 855.3 billion won, w
MarketApril 24, 2024
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Korean investment in US almost doubles from pre-pandemic: report
South Korea's investment in the US increased about 1.8 times last year compared to the pre-COVID-19 period as major conglomerates set up large-scale facilities in the eastern part of the country, a report from a business lobby group showed Wednesday. According to the report published by the Korea Chamber of Commerce and Industry, the total Korean investment in the US stood at $27.7 billion last year, up 75 percent from $15.8 billion in 2019. Large conglomerates like Samsung Electronics, SK
EconomyApril 24, 2024
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Korea’s homegrown nanosatellite successfully launches into space
South Korea launched its first homegrown earth observation nanosatellite into orbit as part of the country’s project to create a satellite constellation by 2027, the Science Ministry said Wednesday. The Earth observation satellite, named NEONSAT-1, lifted off aboard Rocket Lab's Electron rocket from a spaceport in Mahia, New Zealand. The Ministry of Science and ICT said the satellite was deployed into space at an altitude of 520 kilometers and successfully separated from the launch ve
TechnologyApril 24, 2024
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Korean robot startup aims to transform human walking
South Korean robotics startup WIRobotics aims to transform the walking experience via its award-winning wearable robot WIM, made lighter and more convenient for everyday use, the company's chief said Wednesday. "We believe humans will be able to enhance walking and physical abilities with the assistance of the interactive robotics technology, and have thought wearable robots will be optimal," WIRobotics CEO and Chief Technology Officer Kim Yong-jae said at the press conference in
IndustryApril 24, 2024
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LG Energy Solution vows stern action to protect patent rights
LG Energy Solution announced new stringent policies Wednesday to address rampant patent infringements by what it describes as "patent free-riders." The nation's top battery maker plans to enforce its intellectual property through legal actions and promote equitable competition by contributing to a legitimate battery patent licensing market. This decision comes in response to an increasing number of companies -- both new entrants and established manufacturers -- exploiting LG Energ
IndustryApril 24, 2024
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Hanwha Life taps into global banking through fresh investment in Indonesia
Hanwha Life, a leading Korean insurance company and the life insurance subsidiary of Hanwha Group, has made a strategic move into the Indonesian banking sector through a stake investment. The company announced on Wednesday that its board had approved securing a 40 percent stake in Nobu Bank from Indonesia's Lippo Group, marking the first entry of a Korean insurer into the Indonesian banking industry. The decision was made during an extraordinary board meeting held on Tuesday. Hanwha Life
IndustryApril 24, 2024
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[From the Scene] KG Mobility poised to take next leap
PYEONGTAEK, Gyeonggi Province -- A group of workers gathered to check a computerized system at KG Mobility’s Pyeongtaek plant in Gyeonggi Province on Tuesday afternoon. While most workers were taking their 10-minute break, they came together to try to improve the workflow. That passion played a crucial role in the company logging its first profitable year in 2023 for the first time in 16 years, according to the Korean automaker’s head of production. “I think (our turnaround) la
MobilityApril 24, 2024
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Hyundai Mobis breaks ground for W170b Spain plant
Hyundai Mobis, the auto parts manufacturer under Hyundai Motor Group, said Wednesday it held a ground-breaking ceremony for its first factory in Western Europe, which will manufacture battery systems, particularly focusing on supplying the Volkswagen Group. The new factory in Navarre, Spain, will cover an area of 150,000 square meters, with a floor space of 50,000 square meters, and it will have the capacity to produce up to 360,000 battery system assemblies annually. In line with its goal to
CompaniesApril 24, 2024
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Coway launches Berex massage bed with enhanced usability
South Korean home appliance maker Coway has launched a new massage bed, the Berex Reclining Massage Bed, as part of product diversification aimed at the nation's soaring massage chair market. The new product is the first of its kind to incorporate an automatic upper-body reclining function, specifically designed to ease the process of lying down and standing up -- a feature that addresses usability for the elderly and those with mobility challenges. The model does not require users to man
IndustryApril 24, 2024
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HD Hyundai teams up with Norway's Philly Shipyard for US footing
HD Hyundai Heavy Industries and Norway's Philly Shipyard signed a memorandum of understanding to collaborate on manufacturing, maintaining, repairing, and overhauling vessels and ships ordered by the US government, the South Korean shipbuilder said Wednesday. The signing ceremony was held at Philly's shipyard in Philadelphia, Pennsylvania, on April 12 -- with key officials from both companies in attendance, including Joo Won-ho, head of HD Hyundai Heavy Industries’ special ship b
CompaniesApril 24, 2024
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Over half of new hires in S. Korea are college graduates: data
Among newly hired employees in Korea in 2023, 50.5 percent were college graduates. Of the 28.41 million people newly hired across the country, 14.36 million had a higher education degree, according to the Korean Statistical Information Service run by Statistics Korea. The figure includes graduates from two-year college courses and those with postgraduate degrees. The number of new employees with tertiary education degrees rose by 1.2 percent compared to the year before. The figure rose from 30.2
EconomyApril 24, 2024
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Hyundai unveils versatile commercial EV platform
Hyundai Motor Company launched its new ST1 series of electrified, purpose-built vehicles for commercial use on Tuesday, aiming to diversify and enhance the efficiency of commercial vehicles for both logistics applications and beyond. An open API-based software platform -- a first for Hyundai vehicles -- is a standout component of the series, which expands the possibilities of today's commercial vehicles by providing the exact telematics data that each business user needs. The unveiling too
MobilityApril 24, 2024
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KGC eyes broader customer base with Lim Young-woong
Korea Ginseng Corp., the leading manufacturer of ginseng products in the country, has launched a new promotional video featuring trot singer Lim Young-woong. Released on Wednesday, the video showcases a day in the life of Lim, from morning routines to exercise and singing practice. The video highlights the use of JungKwanJang, the company's premium red ginseng brand, portraying its products as essential for daily vitality. Lim, known for his victory in a popular singing competition, appeals
IndustryApril 24, 2024
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4 conglomerates see combined operating profit plunge 65% last year: report
Four major conglomerates saw their combined operating profit plunge 65 percent last year, hit by sluggish sales amid an economic slowdown, a report showed Wednesday. Some 306 affiliates of four conglomerates -- Samsung, SK, Hyundai Motor and LG -- posted a combined operating profit of 24.51 trillion won ($17.9 billion) in 2023, down from 71.91 trillion won a year earlier, according to the report by the Korea CXO Institute, a corporate data firm. Samsung Group, the country's biggest conglome
EconomyApril 24, 2024
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Crypto mogul Kwon appeals against Montenegro court's extradition verdict
Montenegrin lawyers of disgraced South Korean crypto entrepreneur Do Kwon are struggling to have him extradited to his home country, not the United States, according to local news reports. Kwon's legal representatives in Montenegro appealed against the Podgorica High Court's recent ruling that found the conditions for his extradition to both South Korea and the US were met, local daily Vijesti reported on Tuesday. In their appeal, the lawyers said that the high court's April 8 dec
EconomyApril 24, 2024
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Seoul shares open sharply higher on US stock gains
South Korean stocks opened stronger Wednesday as investors snapped up blue chips across the board following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed up 46.43 points, or 1.77 percent, to 2,669.45 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 1.2 percent and the tech-heavy Nasdaq jumped 1.59 percent, while the Dow Jones Industrial Average gained 0.69 percent, as tech heavyweights lifted the broader US stock market.
MarketApril 24, 2024
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SC Bank Korea offers special rate for new customers
Standard Chartered Bank Korea said Tuesday it will offer special interest rates of up to 3.5 percent for as long as 60 days to first-time SC customers who deposit 30 million won ($21,800) or more, up to 2 billion won, in money market deposit accounts. Money market deposit accounts pay interest based on the daily account balance. The bigger the deposit, the higher the interest. The promotional rate is offered to first-time customers of SC Bank Korea who open accounts by April 30. The promotion wi
CompaniesApril 24, 2024