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  (LEAD) Finance minister urges passage of bill on tax incentives for chipmakers

  (ATTN: RECASTS throughout with revised ministry release; CHANGES slug, headline, photo)SEOUL, Feb. 28 (Yonhap) -- South Korea's chief economic policymaker called Tuesday for parliament to promptly pass a bill on providing more tax incentives to c
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  Lotte Chemical signs MOU with U.S. ammonia producer for clean ammonia project

  SEOUL, Feb. 28 (Yonhap) -- Lotte Chemical Corp., a South Korean chemical company, said Tuesday it has signed a preliminary deal with a U.S. ammonia producer to explore opportunities for clean ammonia production and its offtake into Korea. The memoran
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  S. Koreans' overseas direct purchases hit fresh high in 2022

  By Kang Yoon-seungSEOUL, Feb. 28 (Yonhap) -- South Koreans' direct purchases of foreign goods hit a fresh record high last year, data showed Tuesday, on the back of stronger demand for dietary supplements and electronics.South Korean shoppers bou
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  S. Korea's tax revenue down 6.8 tln won in Jan.

  By Kang Yoon-seungSEOUL, Feb. 28 (Yonhap) -- South Korea's tax revenue fell 6.8 trillion won (US$5.14 billion) in January from a year earlier amid the slump in the property and securities market, data showed Tuesday.The government collected 42.9
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  Finance minister urges close attention to China's reopening

  By Kang Yoon-seungSEOUL, Feb. 28 (Yonhap) -- South Korea's chief economic policymaker on Tuesday called for more attention to the reopening of the Chinese economy in order to address the prolonged downturn in the country's outbound shipments.
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  Chinese firm participates in Incheon International Airport's duty-free auction: sources

  SEOUL, Feb. 27 (Yonhap) -- China's state-run duty-free operator, China Duty Free Group Co. (CDFG), has participated in the license bidding at Incheon International Airport, industry sources said Monday.Four South Korean companies -- Lotte Hotel,
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  Local startup accuses LG Household & Health Care of idea theft

  By Kang Jae-eun SEOUL, Feb. 27 (Yonhap) -- Prinker Korea Inc., a South Korean startup, claimed Monday that LG Household & Health Care Ltd. has stolen the idea of its customized tattoo printing device, called Prinker M, and created a copycat product.P
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  (LEAD) S. Korea seeks to cut key minerals dependence on China to 50 pct by 2030

  (ATTN: RECASTS headline, lead for specification; ADDS more details in paras 2-3, photo)SEOUL, Feb. 27 (Yonhap) -- South Korea seeks to reduce its reliance on China for key minerals, such as lithium and nickel, to 50 percent by 2030 from the current 8
• Kolon Industries 2022 net income down 3 pct to 197.8 bln won

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  SEOUL, Feb. 27 (Yonhap) -- Kolon Industries Inc. on Monday reported its 2022 net income of 197.8 billion won (US$149.5 million), down 3 percent from a year earlier.The company said in a regulatory filing that it posted 242.5 billion won in operating
• Kolon Industries Q4 net income up 94.4 pct to 34.2 bln won

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  SEOUL, Feb. 27 (Yonhap) -- Kolon Industries Inc. on Monday reported its fourth-quarter net profit of 34.2 billion won (US$25.8 million), up 94.4 percent from a year earlier.Operating income for the October-December period was 39.1 billion, compared w
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  S. Korea designates 10 'strategic' minerals, introduces early warning system for stable supplies

  SEOUL, Feb. 27 (Yonhap) -- South Korea decided to designate 10 minerals, including lithium and nickel, as "strategic" key minerals for intense management of their supply chains and to significantly reduce their dependence on specific nati
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  SME biz sentiment swings to upturn for March

  SEOUL, Feb. 27 (Yonhap) -- South Korean smaller firms' business outlook gained for March for the first time in five months amid eased coronavirus curbs, a poll showed Monday.The survey of 3,150 small and medium-sized enterprises (SMEs) showed the
• Kolmar Korea swings to red in 2022

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  SEOUL, Feb. 27 (Yonhap) -- Kolmar Korea Co. on Monday reported its 2022 net loss of 4.1 billion won (US$3.1 million), swinging from a profit of 43.5 billion won a year earlier.The company said in a regulatory filing that operating profit for the year
• Kolmar Korea swings to loss in Q4

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  SEOUL, Feb. 27 (Yonhap) -- Kolmar Korea Co. on Monday reported its fourth-quarter net loss of 47.4 billion won (US$35.9 million), turning from a profit of 9.4 billion won a year earlier.The company said in a regulatory filing that operating profit fo
• Foreign currency deposits down in Jan. on dollar withdrawals for imports, investment

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  SEOUL, Feb. 27 (Yonhap) -- Foreign currency deposits at banks in South Korea decreased in January as companies used their dollar holdings for imports and overseas investment, central bank data showed Monday.Outstanding foreign currency-denominated de
• IPOs in S. Korea sharply down in 2022 amid uncertainty from inflation, rate hikes

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  SEOUL, Feb. 27 (Yonhap) -- The number of initial public offerings (IPOs) and the amount of funds raised from the process in 2022 decreased sharply due to market uncertainty caused by inflation and monetary tightening in major countries, data showed M
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  Arable land down for 10th consecutive year in 2022

  By Kang Yoon-seungSEJONG, Feb. 27 (Yonhap) -- South Korea's total arable land decreased for the 10th consecutive year in 2022 as people consumed less rice, leading to an overall contraction of rice paddies, data showed Monday. The country's a
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  Retail sales up 4 pct in January on growing online demand

  SEOUL, Feb. 27 (Yonhap) -- Retail sales in South Korea grew 4 percent on-year in January, though offline retailers saw their sales fall due to the New Year's holiday and amid an economic slowdown, data has showed.The combined sales of 25 major of
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  SeAH reportedly in talks with Elon Musk's SpaceX on alloy supply deal

  SEOUL, Feb. 26 (Yonhap) -- SeAH Group, a South Korean steelmaking business group, is in talks with Elon Musk's SpaceX to supply specialty alloys, industry sources said Sunday.According to the sources, the two firms are in talks to supply specialt
• Presidential office hints at revising anti-graft law to bolster domestic demand

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  SEOUL, Feb. 26 (Yonhap) -- South Korea's presidential office on Sunday hinted at the possibility of easing some restrictions under an anti-corruption law as part of efforts to bolster domestic demand."There were questions about whether the