Most Popular
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[Behind the K-pop Scene] 'K-pop is all about money'
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Seoul to mull more Ukraine support based on Pyongyang’s level of involvement: official
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Seoul unveils plan to move 68km of railways underground
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N. Korea's support puts Putin in its debt: experts
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Kakao’s AI service Kanana aims for ‘next KakaoTalk’
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[KH Explains] Tesla’s vague robotaxi vision may let Hyundai-Waymo narrow gap
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[ASEAN Plus Korea] 'Restrictive immigration may dampen Southeast Asian interest in Korea'
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[Today’s K-pop] Blackpink’s Jennie, Rose set career-highs
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[LLG] Repairing toys seemed like simple task. It turned out to be deeply emotional
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Gangbuk office apologizes for video parodying NewJeans' Hanni
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S. Korea's economy grows weaker-than-expected 0.1% in Q3: BOK
South Korea's economy grew at a slower-than-expected rate in the third quarter of the year amid softening export growth, central bank data showed Thursday, raising the possibility that the Bank of Korea may conduct another rate cut earlier than expected after its first rate reduction in over three years this month. The country's real gross domestic product (GDP) — a key measure of economic growth — gained 0.1 percent on-quarter in the July-September period, according to pre
Oct. 24, 2024
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SK hynix swings to black in Q3, recording highest quarterly sales, profit
SK hynix Inc. said Thursday its third-quarter sales and profit hit all-time highs on robust demand for its premium artificial intelligence memory chips. The world's second-largest memory chipmaker posted a net income of 5.75 trillion won ($4.2 billion), shifting from a loss of 2.18 trillion won a year earlier, the company said in a regulatory filing. Operating income for the July-September period was 7.02 trillion won, compared with a loss of 1.79 trillion won a year ago, while its sales sh
Oct. 24, 2024
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Seoul shares open lower on US losses
Seoul shares opened lower Thursday, tracking losses on Wall Street amid concerns over a slower pace of the US Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index fell 8.92 points, or 0.34 percent, to 2,590.70 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.96 percent to 42,514.95, while the tech-heavy Nasdaq Composite declined 1.6 percent to 18,276.65. In Seoul, large-cap stocks were mixed. Market bellwether Samsung Electronics
Oct. 24, 2024
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Hyundai Rotem to develop world's 1st hydrogen fuel-based tank: sources
Hyundai Rotem Co., a South Korean defense solutions company, has been working on developing the world's first hydrogen fuel-based tank for the military, industry sources said Wednesday. In collaboration with the Agency for Defense Development and other defense technology research institutes, Hyundai Rotem is designing a next-generation tank model as part of its plans to upgrade the K2 main battle tank, according to the sources. This new tank, which is planned for production after 2040, wi
Oct. 23, 2024
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[Contribution] SGATAR in Seoul: NTS driving cooperation in tax administration
By Choi Jae-bong, Vice Commissioner of National Tax Service Nestled in the southeastern corner of France lies the small sovereign state of Monaco, a tranquil city-state renowned for actress Grace Kelly and Formula 1 racing. However, in 1962, this peaceful city-state found itself at the center of a tense standoff along its borders due to a conflict over taxation between French tax authorities and taxpayers. Taking advantage of the fact that Monaco has no income tax, many French taxpayers sought
Oct. 23, 2024
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Seoul shares end higher on tech, auto gains; won slips for 8th day
Seoul shares closed higher Wednesday on tech and auto gains amid concerns over a possible slower pace in the Federal Reserve's rate cuts. The Korean won continued to slip against the US dollar. The benchmark Korea Composite Stock Price Index rose 28.92 points, or 1.1 percent, to close at 2,599.62. Trade volume was moderate at 345.96 million shares worth 9.25 trillion won ($6.7 billion), with gainers outpacing losers 448 to 408. Institutions and foreigners bought a combined 510 billion won w
Oct. 23, 2024
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[KH Explains] Tesla’s vague robotaxi vision may let Hyundai-Waymo narrow gap
Tesla’s recent unveiling of its Robotaxi prototype has generated some buzz, but the absence of critical details leaves room for competitors -- such as Hyundai Motor Group -- to potentially make up ground in the race toward autonomous vehicles. While Tesla remains a dominant force in electric vehicles and self-driving technology, its latest announcement raises as many questions as it does excitement. At the Tesla event named "We, Robot," held at Warner Bros. Studios in Burbank,
Oct. 23, 2024
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[From the Scene] S-Oil’s Shaheen project on track for 2026 completion
ULSAN -- The construction site of S-Oil’s Shaheen project at its Onsan plant in Ulsan showed little to no activity Tuesday afternoon. Although the day’s workflow had seemingly stopped due to heavy downpours in the morning, the officials from S-Oil and Hyundai Engineering & Construction said the building process of the Shaheen project had already reached 40 percent completion. “Four major construction firms -- Hyundai E&C, Hyundai Engineering, Lotte E&C and DL E&
Oct. 23, 2024
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Debt-ridden Kepco raises electric bills for businesses
The state-run Korea Electric Power Corporation decided Wednesday to raise industrial electricity rates by an average of 9.7 percent from Thursday, prompting immediate complaints among local businesses already reeling from rising costs and unfavorable foreign exchange rates. "The government and Kepco had no choice but to comprehensively consider the ongoing difficulties faced by the public and small business owners, as well as an economic situation in which consumer sentiment has not yet rec
Oct. 23, 2024
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Samsung SDI showcases next-gen battery lineup at mobility show
Samsung SDI said Wednesday it has showcased its battery lineup, ranging from the prismatic battery P6 to the next-generation all-solid-state battery, at the Daegu International Future Auto & Mobility Expo. The company’s all-solid-state battery for electric vehicles boasts an energy density of 900 watt-hours per liter with a cathode-free structure. It is known to be theoretically safer than conventional lithium-ion batteries that use flammable liquid electrolytes. It sent samples to cli
Oct. 23, 2024
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SK’s flu vaccine spreading across Asia
South Korean pharmaceutical company SK Bioscience said Wednesday that its SKYCellflu has become the first influenza vaccine from Korea approved by the Food and Drug Agency of Indonesia. Indonesia’s pharmaceutical market has been growing significantly. According to market tracker Insights10, the country’s flu vaccine market is expected to increase from $38.5 million in 2022 to $69.1 million by 2030. Due to its geography spanning both the Northern and Southern hemispheres, Indonesia re
Oct. 23, 2024
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Gochujang heats up US as Americans seek out ‘swicy’ food
As the new trend of spicy-sweet -- "swicy" -- flavors has been gaining ground in the US restaurant scene, Korean gochujang (red chile pepper paste) is gaining popularity. According to a Tuesday report from CNBC, more Americans are seeking bold flavors, and gochujang has become one of the key ingredients fueling this movement. “Common menu items have paired fruity flavors with chili powder or used sauces like hot honey and gochujang, a red chile (pepper) paste that’s a pop
Oct. 23, 2024
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[Photo News] Hana opens 99th nursery
Hana Financial Group announced Wednesday that it has opened the 99th nursery of its "100 Nursery Building Project" in Dongdaemun, central Seoul. The latest facility, "Hoegi Hana Nursery," is a public child care center serving multicultural families, offering space for up to 60 infants and children under five. The five-story building includes playrooms and an outdoor playground. Since launching the initiative in 2018, Hana Financial Group has partnered with regional government
Oct. 23, 2024
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SPC invited to Macron’s exclusive dinner in Paris
South Korean bakery giant SPC Group said Wednesday that President Hur Jin-soo attended a dinner banquet hosted by French President Emmanuel Macron at Elysee Palace in Paris earlier this week. He was the only Korean business leader to be invited to the exclusive event marking the 60th anniversary of SIAL Paris, one of the world’s largest food trade fairs. The dinner brought together around 40 global business leaders from major food and distribution companies, including the Netherlands&rsquo
Oct. 23, 2024
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S. Korea to maintain close communication with global investors ahead WGBI inclusion
Finance Minister Choi Sang-mok has said South Korea will maintain close communication with global investors to ensure the country's successful debut in a key global government bond index managed by FTSE Russell. Choi made the remark during his meeting in New York with representatives from major U.S. investment companies on Tuesday, noting that South Korea's inclusion in the World Government Bond Index reflects global recognition of its efforts to improve the investment environment. &qu
Oct. 23, 2024
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Fuel tax cut to be extended by 2 months with adjustments
The finance ministry said Wednesday it will extend the tax cut on fuel by another two months with some adjustments amid the ongoing Middle East crisis. Under the decision, South Korea will apply a 15 percent discount on gasoline consumption and a 23 percent cut on diesel and liquefied petroleum gas, according to the Ministry of Economy and Finance. South Korea has been applying a 20 percent discount on gasoline consumption and a 30 percent discount on diesel and liquefied petroleum gas, which we
Oct. 23, 2024
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Seoul shares open higher on retail buying
Seoul shares opened higher Wednesday on retail buying, though investors remain cautious due to concerns over a slower pace of the Federal Reserve's rate cuts. The benchmark Korea Composite Stock Price Index (Kospi) rose 3.53 points, or 0.14 percent, to 2,574.23 in the first 15 minutes of trading. Overnight, US stocks closed mixed. The Dow Jones Industrial Average fell 0.02 percent to 42,924.89, while the tech-heavy Nasdaq Composite rose 0.18 percent to 18,573.13. In Seoul, large-cap stocks
Oct. 23, 2024
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Daewoo E&C eyes bigger footing in Indonesia
Daewoo Engineering & Construction Chairman Jung Won-ju met with former Indonesian President Joko Widodo to explore new business ventures in the country, the company said Tuesday. The meeting took place at the presidential palace, Istana Merdeka, in Jakarta on Friday -- the last day of Widodo's term. During the meeting, Jung expressed appreciation for Widodo’s presidency which has enabled Indonesia to achieve steady economic growth through development policies related to social i
Oct. 22, 2024
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LG Electronics unveils 2030 vision to boost corporate value
LG Electronics on Tuesday announced a mid-to-long-term plan to boost the company’s corporate value, with a goal to achieve sales of 100 trillion won ($72.6 billion) by 2030. The new announcement comes about two months after it said it would participate in the government’s Value-up Program, being the first to do so among the country’s top 10 conglomerates. In a regulatory filing, the home appliance giant reiterated its Triple 7 goal, under which the company aims to see a 7 perce
Oct. 22, 2024
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[Hello India] Hyundai Motor makes landmark stock debut in India
Hyundai Motor India made a monumental debut on the Indian stock market, marking the largest initial public offering in India’s history and the first overseas subsidiary of a Korean company to go public in global markets. Hyundai Motor Group Executive Chair Chung Euisun and key executives, including Chang Jae-hoon, president and CEO of Hyundai Motor Company; Kim Un-soo, vice president of Hyundai Motor India; Tarun Garg, chief operating officer at Hyundai Motor India; and some 250 people fro
Oct. 22, 2024