Most Popular
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40 flights canceled on Jeju Island due to bad weather
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Korean labor force to shrink by 10 million by 2044: report
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Pandemic left Korea more depressed than before: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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N. Korea slams US, other countries for seeking alternative to UN sanctions monitoring panel
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Gov't appears to shelve punitive measures against mass walkout by doctors
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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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Govt. asks hospitals to mitigate impact of medical professors' absence
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Samsung mocks Apple over iPhone alarm glitch
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Seoul shares open higher on US gains
South Korean stocks opened higher Tuesday, tracking gains on Wall Street. The won traded lower against the dollar.The benchmark Korea Composite Stock Price Index rose 5.48 points, or 0.23 percent, to 2,376.38.On Monday (US time), the Dow Jones industrial average moved up 0.68 percent to end at 21,528.99, while the tech-heavy Nasdaq Composite also advanced 1.42 percent to 6,239.01.Large-cap stocks were mixed across the board.Market bellwether Samsung Electronics rose 1.59 percent, and major chipm
June 20, 2017
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Seoul stocks end higher on foreign buying
South Korean stocks ended slightly higher Monday as foreigners turned net buyers. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index rose 9.07 points, or 0.38 percent, to close at 2,370.90. Trade volume was moderate at 288 million shares worth 5.35 trillion won ($4.7 billion), with decliners outnumbering advancers 418 to 388.Foreigners bought 124.19 billion won worth of stocks, turning net buyers after dumping 163 billion won worth of stocks in the previous
June 19, 2017
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KAMCO shares know-how with entities overseas
Korea Asset Management Corp. is building a track record of sharing knowledge abroad on nonperforming loan resolution.On Thursday, the state-run asset manager shared with a group of Vietnamese officials its know how on debt resolution and its experience of overcoming a financial crisis in 1998, during a session held in Busan.The firm has opened doors not only to offshore public representatives, but also academic circles. Students and faculty members from the Paris Dauphine University and Universi
June 19, 2017
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Korean shares extend gains on foreign buying
South Korean shares extended gains late Monday morning as foreigners turned net buyers. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index rose 14.48 points, or 0.61 percent, to 2,376.31 as of 11:20 a.m.Foreigners were net buyers of local stocks worth 19.38 billion won ($17 million). They offloaded 163 billion won worth of stocks in the previous session. Institutions also bought 62.48 billion won worth of shares. But individuals sold 92.87 billion won
June 19, 2017
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Seoul shares open tad higher on US gains
South Korean stocks opened slightly higher Monday, tracking US gains. The won traded higher against the dollar. The benchmark Korea Composite Stock Price Index rose 2.19 points, or 0.09 percent, to 2,364.01. Foreigners continued to sell domestic stocks, weighing on the KOSPI index. They sold 162.9 billion won ($144 million) worth of stocks in the previous session.On Friday (local time), the Dow Jones industrial average inched up 0.11 percent to end at 21,384.28, while the tech-heavy Nasdaq Compo
June 19, 2017
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Korea ranks 14th worldwide in stock market value
South Korea ranks 14th worldwide in terms of stock market value as its bourses have performed superbly this year on the back of strong foreign buying, data showed Monday.The combined market capitalization of the country's main and secondary stock markets came to $1.55 trillion as of the end of May, up 20.8 percent from end-2016, according to the data from the bourse operator Korea Exchange.South Korea's ranking was up one spot over the cited period, during which the total value of 81 exchanges b
June 19, 2017
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Apartment prices grow 3 times faster than household income
Apartment prices in South Korea on average grew nearly three times faster than current household income over four years under the previous administration, data showed Sunday. The price of jeonse -- referring to deposits for a two-year lease of a house instead of monthly payments -- also rose sixfold compared to income over the cited four years. The average current monthly household income rose by 8.7 percent, from 3.93 million won ($3,470) at the end of 2012 to 4.27 million won at the end of 201
June 18, 2017
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Loans for facility investments hit record high
Loans taken out to finance facility expansions reached an all-time high in March, in line with a recovery in exports and the global economy, data showed Sunday.According to the data compiled by the Bank of Korea, facility loans reached a record 404.87 trillion won ($356 billion) as of end-March, up 9.21 trillion won from the end of last year. From a year ago, the figure also swelled by 42.39 trillion won, the data showed.The data indicate that local firms are set to increase spending on facility
June 18, 2017
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China stretches finance muscle through AIIB
China has been striving to take the lead in reshaping regional and global economic governance by creating a fresh network that connects Eurasia and South Pacific through a multilateral development financing institution, the Asian Infrastructure Investment Bank.In 2013, China’s President Xi Jinping expressed the country’s aim to leverage and realize its centerpiece foreign policy, the “One Belt, One Road” initiative. Since 2015, China has encouraged 65 countries to partici
June 16, 2017
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Seoul stocks end almost flat amid profit-taking
South Korean stocks finished almost flat Friday as foreign investors dumped local shares to lock in recent gains, offsetting a buying spree by institutions and individuals, analysts said. The Korean won sharply lost ground against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.18 point, or 0.01 percent, to close at 2,361.38. Trade volume was slim at 323.92 million shares worth 5.7 trillion won (US$5.1 billion), with losers outnumbering gainers 439 to 365.Foreig
June 16, 2017
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Korean think tank to hold forum at AIIB meeting
South Korea's state-run think tank said Friday it will hold a forum on how to promote infrastructure investment in Asia on the sidelines of an annual meeting of a China-led regional lender. During the Saturday forum in Jeju, economists will discuss ways to step up cooperation between the government and private sectors as well as multilateral lenders for infrastructure investment, the Korea Development Institute (KDI) said in a statement. Rhee Chang-yong, director of the Asia and Pacific Departme
June 16, 2017
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Rebidding for remaining Incheon airport duty-free store license falls through again
The rebidding to lease out the remaining duty-free store license for Incheon International Airport's new passenger terminal fell through again due to a lack of tenders, the transportation hub operator said Friday.The license bidding to run an apparel and accessories store in the second terminal failed for the sixth time with Shinsegae DF as the only company taking part in the auction, according to Incheon International Airport Corp. (IIAC). Incheon airport, lying west of Seoul, is South Korea's
June 16, 2017
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Finance minister holds talks with head of China-led regional lender
Finance Minister Kim Dong-yeon held talks on Thursday with Jin Liqun, president of a Chinese-led regional lender, during which the two sides agreed to step up cooperation, officials said. The talks between Kim and Jin were held a day before the annual meeting of the Asian Infrastructure Investment Bank (AIIB) in South Korea's southern island of Jeju. During the meeting, Kim told Jin that South Korea wants to develop "strategic cooperation" with the AIIB, Kim's ministry said in a
June 15, 2017
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[AIIB] Finance leaders welcome AIIB delegates
Lee Dong-geol, chairman and CEO of the Korea Development BankI extend my warm congratulations to the 2017 Asian Infrastructure Investment Bank Annual Meeting to be held in Jeju from Friday to Sunday. Under the theme of sustainable infrastructure, the meeting will be an opportunity for all participants to engage in finding solutions for the balanced development and shared growth of Asia, and draw the attention of the world to the immense infrastructure potential of the region. As one of Korea&rsq
June 15, 2017
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[Photo News] Online banking upgrade
June 15, 2017
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Fed hike dents Korean stock markets
South Korea’s stock markets dipped Thursday after the US Federal Reserve on Wednesday decided to raise its benchmark interest rate by 0.25 percent and shrink its balance sheet. The benchmark indexes -- the Korea Composite Stock Price Index and Korean Securities Dealers Automated Quotations -- sank along with other Asian markets in Tokyo, Hong Kong and Shanghai. The Kospi closed at 2,361.65, down 0.46 percent, compared to Wednesday, while the Kosdaq slid 0.26 percent in closing from a day e
June 15, 2017
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K bank meets annual goal in deposits
K bank has drawn 520 billion won ($463.1 million) in deposits in total within less than three months since its launch, surpassing its annual goal, according to news reports Thursday. K bank, South Korea‘s first online-only lender, reportedly exceeded its earlier goal by the end of 2017 on Tuesday, after kicking off the customer service on April 3. It had aimed to attract 500 billion won in customer deposit and lend 400 billion won. As of the end of May, K bank extended some 410 billion won
June 15, 2017
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Seoul stocks end lower after US Fed rate hike
South Korean stocks finished lower Thursday as institutional investors dumped major large cap shares to lock in recent gains, following the US rate hike, analysts said. The Korean won lost ground against the US dollar.The benchmark Korea Composite Stock Price Index lost 10.99 points, or 0.46 percent, to close at 2,361.65. Trade volume was moderate at 333.18 million shares worth 5.78 trillion won ($5.14 billion), with losers far outnumbering gainers 555 to 236.The local stock market had opened a
June 15, 2017
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Asian countries show high receptivity to smart payment
South Korea, China and Southeast Asian countries appear to be open to adopting new ways of payment involving devices such as smartphones, wearables and other connected devices for greater convenience, said global card payment company Visa on Thursday.International internet-based market research firm YouGov conducted a survey on 10,500 adults from 13 countries in the Asia-Pacific region to find out their receptivity to new payment technologies. Eighty-seven percent of the respondents from Korea s
June 15, 2017
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[Herald Interview] AIIB chief puts quality ahead of quantity in projects
The Asian Infrastructure Investment Bank, a China-backed multilateral development bank, aims to put the quality of projects ahead of quantity, the bank’s head said.Since launching with 57 signatory countries in January, 2016, the AIIB saw its members increase to 77 and the bank invest in 13 projects worth $2.1 billion as of the end of May. “We anticipate our 2017 investments to be between $2 and $2.5 billion, but our focus remains on quality projects not just quantity,” AIIB Pr
June 15, 2017