Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Mirae Asset's Canadian ETF unit surpasses W30tr in AUM
Mirae Asset Global Investments' Canadian subsidiary Horizons ETFs saw its assets under management surpass 30 trillion won ($22.8 billion) this month, marking ninefold growth in over 10 years. Horizons ETFs has become the fourth-largest ETF operator in Canada with its AUM standing at $22.8 billion as of Jan. 10, from $2.2 billion when Mirae Asset Global Investments had acquired the unit in 2011, according to the Korean firm on Friday. The latest figure translates to roughly $30 billion Can
Jan. 22, 2024
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ELS crisis deepens as Hong Kong index sags further
Losses inflicted on Korean investors from derivatives tracking the Hang Seng China Enterprises Index are swelling even faster than expected, as the notorious Hong Kong index has dipped further recently. The HSCEI, which had remained at around 5,500 points since late 2023, has dropped dramatically in the last week or so, sinking by 11.12 percent just this year to close at around 5,127 on Friday. The plunge means a larger toll on investors here, as South Korea braces for the maturation of some 10.
Jan. 21, 2024
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Hybrid operation key to Galaxy AI: Samsung AI chief
SAN JOSE, California – Artificial intelligence is everywhere, but it has only been in the past couple of years that people have been able to visualize what AI might be able to do for them, with the advent of ChatGPT. In its latest Galaxy S24 series, its first AI-powered smartphone, Samsung Electronics took it further to introduce AI features for everyday use, and made the complex process operate on-device via highly advanced optimization technology, the tech giant's AI chief said on T
Jan. 21, 2024
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Korea's kimchi exports reach all-time high in 2023
South Korea's exports of kimchi products reached an all-time high in 2023 amid increasing interest in the country’s culture globally, data showed Sunday. According to the data compiled by the Korea Customs Service, outbound shipments of kimchi came to 44,041 tons, up 7.1 percent from the previous year’s 41,118 tons. The previous record was 42,544 tons set in 2021. In terms of value, exports of kimchi last year came to some $156 million, up 10.5 percent from $148 million tallied
Jan. 21, 2024
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Asan Institute founder to attend Kissinger's memorial service in NY
Chung Mong-joon, the founder and honorary chairman of the Asan Institute of Policy Studies, will attend the late Henry Kissinger's memorial service, slated to be held in New York on Thursday, the South Korean think tank announced Sunday. "Dr. Kissinger’s scholarly and intellectual achievements have influenced how people around the world view the United States and our world order," said Chung in a statement. "We will always remember his wisdom and miss his insights as we
Jan. 21, 2024
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Samyang Foods spices up Winter Youth Olympics
South Korean food manufacturer Samyang Foods announced its official sponsorship of the Gangwon 2024 Winter Youth Olympic Games, the quadrennial youth winter sports event which is being hosted by an Asian country for the first time this year. With 1,802 athletes representing 78 countries, the largest-ever Winter Youth Olympics kicked off Friday evening in Gangwon Province and is set to wrap up on Feb. 1. Standing at the forefront of the Korean wave, Samyang Foods aims to support the sports comp
Jan. 21, 2024
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K bank resumes IPO process, eyes 2024 listing
The internet-only K bank said Friday that it is pushing for an initial public offering this year following a failed attempt last year. “The IPO will be an opportunity for K bank to take another big leap,” said CEO Choi Woo-hyung, who took the post on Jan. 1. “K bank will grow with all its members through thorough preparations.” K bank was launched in April 2017, becoming the nation’s first internet-only bank. As of 2023, it boasted 9.53 million users. After years
Jan. 19, 2024
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Toss Bank launches fee-free currency conversion service
Korean internet-only bank, Toss Bank, on Thursday rolled out its first foreign exchange service, pledging not to charge users any fees for converting foreign currencies. Under the new scheme, all users who open a foreign currency account on its banking app can exchange 17 foreign currencies in real-time and around the clock, without paying any fees for a lifetime. Until now, local banks have sometimes offered a reduction in or removal of currency conversion fees as part of special promotions. Bu
Jan. 18, 2024
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Samsung aims to adopt AI in 100m Galaxy phones
SAN JOSE, California – Samsung Electronics will carry out software updates for its Galaxy AI to be featured in 100 million Galaxy smartphones this year, the company’s mobile business chief said Wednesday. “Galaxy AI in the Galaxy S24 series is a hybrid AI using both on-device and cloud-based AI. This year, we will introduce Galaxy AI to about 100 million Galaxy smartphones for the global expansion of mobile AI,” Roh Tae-moon, president and head of the mobile business divi
Jan. 18, 2024
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Galaxy S24 hands-on: Everything you want from mobile AI
SAN JOSE, California -- Samsung Electronics' much-anticipated Galaxy S24 series has debuted to present what artificial intelligence can offer to change our daily lives. Combining on-device and cloud-based AI technologies, the latest smartphone models showed off some competitive new features with decent performances in image editing and translation, presenting competition for third-party apps. At the SAP Center, a hands-on experience zone was prepared, where visitors could check out the AI f
Jan. 18, 2024
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[Herald Interview] ‘US election main risk for Korean chip, EV makers’
This year’s US presidential election is expected to be the biggest geopolitical risk for Korean companies already reeling from supply chain disruptions and protectionist policies amid an escalating Washing-Beijing rivalry, according to a global specialist in risk management. “The US election could have more direct impacts on Korean businesses in several markets (compared to other risk factors),” said Andrew Gilholm, director of analysis practice for Greater China and North Asia
Jan. 18, 2024
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[Photo News] More cheddar for milk
A shopper browses the milk at a supermarket in Seoul on Thursday. According to Statistics Korea, milk prices saw a 9.9 percent jump in 2023, the steepest surge in 14 years since the global financial crisis in 2009. The upward trend in milk prices also led to price hikes in other dairy products, including yogurt (12.5 percent) and cheese (19.5 percent). (Yonhap)
Jan. 18, 2024
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Celltrion’s anti-cancer biosimilars win multiple tenders in Europe
Celltrion said Thursday that the company’s three oncology biosimilar products -- Herzuma, Truxima and Vegzelma -- are making their foray into key European markets after winning multiple bids there. Celltrion secured bids in France to supply its cancer-fighting biosimilars to five regional drug purchasing organizations for public hospitals. Both Herzuma and Vegzelma will be supplied to two French public health agencies -- Graps and GAULoYS -- while Vegzelma alone won tenders from Grecaps, G
Jan. 18, 2024
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[Photo News] Honoring legacy of Lotte founder
Lotte Group Chairman Shin Dong-bin pays tribute to the group's late founder and honorary Chairman Shin Kyuk-ho, during a memorial service held at the retail giant's headquarters in southern Seoul on Thursday. The self-made entrepreneur passed away at the age of 97 on Jan. 19, 2020. (Lotte Group)
Jan. 18, 2024
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Samsung unveils AI-powered Galaxy, sets out to create new standards
SAN JOSE, CALIF. – Samsung Electronics on Wednesday unveiled the new flagship Galaxy S24 smartphone, its first smartphone powered by artificial intelligence, bringing generative AI to the everyday life of its users. The South Korean tech giant held its Galaxy Unpacked 2024 event at the SAP Center in San Jose, California, with some 2,000 journalists and industry people in attendance. It is the first time that Samsung has held its most important unveiling event of the year in Silicon Valley,
Jan. 18, 2024
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Budget carrier Jin Air logs record earnings in 2023 on brisk demand
South Korean budget airline Jin Air Co. said Wednesday it posted record earnings in 2023 on strong demand, shaking off the fallout of the coronavirus outbreak. Net income came to an all-time high of 135.8 billion won ($101 million) on a separate basis last year, the first black ink in five years, the low-cost carrier unit of top full-service airline Korean Air Co. said in a regulatory filing. Sales also hit a record high of 1.28 trillion won, up 115 percent from a year earlier and even up 40.3 p
Jan. 17, 2024
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Woori, BC improve profits in overseas card business
As local card issuers struggle to seek new growth engines on foreign ground, a handful saw improvements in 2023. Making a surprise breakthrough overseas last year was Woori Card, which posted a cumulative net profit of around 6.25 billion won ($4.64 million) as of the third quarter through its foreign subsidiaries in Myanmar and Indonesia. The figure was up by almost 78 percent on-year. Driving the flourish was Woori Finance Indonesia, the Korean card company's newly launched Indonesian cor
Jan. 17, 2024
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Hanwha heir maps out net-zero vision at Davos
Hanhwa Group Vice Chairman Kim Dong-kwan unveiled a new vision for the decarbonization of shipbuilding and outlined Hanwha’s plans to build a zero-emissions gas carrier, during the 2024 World Economic Forum held in Switzerland on Wednesday. The new vessel will be the industry’s first to be powered entirely by alternative fuels, using Hanwha’s proprietary green technology, according to Kim. Speaking at the Davos Forum under the title "The First Fossil-Free Ship on Water,&rd
Jan. 17, 2024
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Korea’s arms exports to Poland hit W1.5t in 2023
South Korea sent arms exports worth more than 1.5 trillion won to Poland last year, according to data compiled by a trade association, Wednesday. Backed by the increase in arms exports, Poland has also become the source of South Korea’s fifth-biggest trade surplus after the United States, Vietnam, Hong Kong and India. The Korea International Trade Association’s data said the combined exports to Poland reached $9 billion in 2023, up 14.8 percent from the previous year. The growth is l
Jan. 17, 2024
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HD Hyundai CEO talks global decarbonization efforts at Davos
Chung Ki-sun, vice chairman and CEO of the Korean shipbuilding and energy conglomerate HD Hyundai, attended the 2024 World Economic Forum in Davos, Switzerland, on Monday, where he discussed global collaborations in decarbonizing the transportation and logistics industries, according to the company on Wednesday. This engagement follows Chung’s address at the CES 2024 in Las Vegas last week, where he highlighted HD Hyundai's commitment to establishing a hydrogen energy ecosystem and de
Jan. 17, 2024