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S. Korea to spend 70 pct of budget for job creation in H1: finance minister

SEOUL, March 8 (Yonhap) -- South Korea plans to speed up spending the employment-related budget in the first half of 2023 amid signs of a slowdown in the job market, the finance minister said Wednesday.The remark came after Asia's No. 4 economy r
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KT nominates new chief after bungled trial

SEOUL, March 7 (Yonhap) -- KT Corp., a major telecom operator here, said Tuesday it has nominated a new chief executive whose approval will be made at a shareholder meeting later this month.The telecom giant's board of directors nominated Yoon Ky
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Samsung's chip inventory up 77 pct last year amid slump

SEOUL, March 7 (Yonhap) -- Samsung Electronics Co., the world's largest memory chipmaker, saw inventory held by its chipmaking division shot up 76.6 percent last year amid weak demand for chips around the globe, its annual report showed Tuesday.A
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Eximbank signs US$6 bln framework agreement with Saudi Aramco

SEOUL, March 7 (Yonhap) -- The Export-Import Bank of Korea signed a framework deal worth US$6 billion with Saudi Aramco on Tuesday, the state-run policy lender said, a move that could help South Korean companies win contracts in the kingdom.The three
S. Korea, Uzbekistan agree to enhance ties on renewable, new energy fields

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SEOUL, March 7 (Yonhap) -- South Korea and Uzbekistan agreed Tuesday to strengthen cooperation in renewable energy and various new energy sectors to boost their energy security and better achieve zero-emission goals, Seoul's industry ministry sai
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Private education spending up 10.8 pct in 2022

By Kang Yoon-seungSEJONG, March 7 (Yonhap) -- Spending on private education for South Korean students shot up 10.8 percent on-year in 2022, data showed Tuesday, reflecting the country's unwavering enthusiasm for education.Total expenditures on pr
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Internet banking customers up 8.5 pct in 2022 on mobile service use

SEOUL, March 7 (Yonhap) -- The number of customers for internet banking in South Korea continued to grow in 2022 as more online services are available and people prefer transactions on the go, central bank data showed Tuesday. Registered customers fo
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S. Korea retakes top spot in global shipbuilding orders in Feb.

SEOUL, March 7 (Yonhap) -- South Korea recaptured the No. 1 spot in global shipbuilding orders in February, industry data showed Tuesday, thanks to its dominance in the liquefied natural gas (LNG) carrier market. Local shipyards won orders totaling 1
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Customs agency busts 8.2 tln won worth of illegal activities in 2022

SEJONG, March 7 (Yonhap) -- South Korea's customs agency said Tuesday it has detected 8.2 trillion won (US$6.31 billion) worth of illegal trade activities, such as smuggling and violations of foreign currency rules.The amount marks a sharp rise f
SK Inc. Materials to make additional investment in U.S. carbon capture company

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SEOUL, March 7 (Yonhap) -- SK Inc. Materials Co., an advanced materials unit under South Korea's SK Group, said Tuesday it is investing an additional US$300 million in a U.S. company specializing in carbon capture, utilization and storage (CCUS),
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Hyundai unveils Kona Electric SUV ahead of launch in Q2

SEOUL, March 7 (Yonhap) -- South Korea's Hyundai Motor Co. on Tuesday unveiled the Kona Electric subcompact SUV ahead of its domestic launch in the second quarter. The all-new Kona Electric comes with a 64.8 kilowatt-hour battery pack and it is e
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(LEAD) S. Korea's growth sharply slows in 2022 amid recession woes: BOK's preliminary data

(ATTN: RECASTS headline; ADDS photo, more info from 5th para)SEOUL, March 7 (Yonhap) -- South Korea's economic growth sharply slowed in 2022 as exports weakened amid growing recession woes stemming from aggressive monetary tightening at home and
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Imports of Japanese beer hit over 3-year high

SEOUL, March 7 (Yonhap) -- South Korea's imports of Japanese beer hit the highest level in more than three years in January amid a waning anti-Japan campaign here, data showed Tuesday.The country brought in slightly over US$2 million worth of Jap
S. Korea's economy grows 2.6 pct in 2022, unchanged from earlier estimate

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SEOUL, March 7 (Yonhap) -- South Korea's economic growth sharply slowed in 2022 as exports weakened amid growing recession woes stemming from aggressive monetary tightening at home and abroad, central bank data showed Tuesday.South Korea's gr
(URGENT) GDP shrinks 0.4 pct in Q4, grows 2.6 pct in 2022: BOK data

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Top headlines in major S. Korean newspapers

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SEOUL, March 7 (Yonhap) -- The following are the top in major South Korean newspapers on March 7.Korean-language dailies-- S. Korea offers compensation for forced labor via 3rd party (Kyunghyang Shinmun)-- Japan welcomes S. Korea's compensation
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S. Korean biz lobby says to consider 'every measure' for envisioned youth fund under forced labor solution

By Kim Seung-yeon SEOUL, March 6 (Yonhap) -- A major business lobby in South Korea said Monday it will consider all measures to flesh out a plan South Korea and Japan have agreed to push for to form a joint fund to support the youth under Seoul's
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1st Five Guys burger restaurant to open in southern Seoul

SEOUL, March 6 (Yonhap) -- South Korea's first Five Guys burger restaurant is set to open in Gangnam, southern Seoul, by late June, its operator said Monday. The store set to open in the bustling commercial district near Gangnam Station, will hav
POSCO says to 'actively' consider donation for forced labor victims

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SEOUL, March 6 (Yonhap) -- POSCO Holdings Inc., the country's leading steelmaker, said Monday that it would "actively" consider supporting a plan floated by the South Korean government to compensate the victims of forced labor under J
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DSME logs big loss in 2022 on higher costs

SEOUL, March 6 (Yonhap) -- South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Monday it posted a large loss in 2022 on higher costs, despite a jump in orders.DSME said its consolidated loss stood at 1.61 trillion won (U