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S. Korea to invest 275 bln won in bio R&D projects in 2023

SEOUL, Jan. 20 (Yonhap) -- South Korea will extend 274.6 billion won (US$222.9 million) for research and development in the bio industry this year, the industry ministry said Friday.The budget will be spent on a total of 252 new R&D projects in the f
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POSCO's typhoon-hit facilities fully restored, production normalized

SEOUL, Jan. 20 (Yonhap) -- South Korea's top steelmaker, POSCO, has fully restored its facilities damaged by a September typhoon and its production was put back on track, the steelmaker said Friday.The superstrong Typhoon Hinnamnor pounded POSCO&
Finance minister vows to revamp financial regulations, meet 'global standard'

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By Kang Yoon-seungSEOUL, Jan. 20 (Yonhap) -- South Korean Finance Minister Choo Kyung-ho reaffirmed his call to revamp local financial rules to meet "global standards" and attract more foreign investors, the finance ministry said Friday.C
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Producer prices down for 2nd month in Dec. on falling oil prices, weak dollar

SEOUL, Jan. 20 (Yonhap) -- South Korea's producer prices fell for the second straight month in December, as falling oil prices and a weak dollar resulted in a decline in costs of manufactured products, central bank data showed Friday.The producer
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S. Korea seeks to attract US$500 mln in investment from two European bio firms

SEOUL, Jan. 19 (Yonhap) -- South Korea's Industry Minister Lee Chang-yang met with top executives of Germany's Merck Life Science and Switzerland-based Novartis on Thursday in Davos, Switzerland, to discuss their potential investment in South
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Mirae Asset Global Investments buys logistics center in India

By Chung Joo-wonSEOUL, Jan. 19 (Yonhap) -- South Korea's leading asset manager Mirae Asset Global Investments Co. said Thursday it has purchased a logistics center near India's financial hub of Mumbai in the latest move to expand its portfoli
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Hanwha heir apparent discusses cooperation with global energy companies in Davos

By Kim Seung-yeon SEOUL, Jan. 19 (Yonhap) -- Hanwha Group Vice Chairman Kim Dong-kwan, the heir apparent of the South Korean energy-to-defense conglomerate, has met with leaders of top global energy companies in Switzerland and discussed ways of coop
Delinquency ratio on bank loans inch up in Nov. amid high interest rates

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SEOUL, Jan. 19 (Yonhap) -- The delinquency ratio on loans extended by banks in South Korea inched up in November amid increased debt burden from rising interest rates, data showed Thursday.The delinquency ratio on banks' won-denominated loans had
Hyundai E&C 2022 net income down 12.5 pct to 485 bln won

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SEOUL, Jan. 19 (Yonhap) -- Hyundai Engineering & Construction Co. on Thursday reported its 2022 net income of 485 billion won (US$392.6 million), down 12.5 percent from a year earlier.Operating income for the year was 582 billion won, down 22.8 perce
Hyundai E&C shifts to loss in Q4

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SEOUL, Jan. 19 (Yonhap) -- Hyundai Engineering & Construction Co. on Thursday reported its fourth-quarter net loss of 157.8 billion won (US$127.8 million), swinging from a profit of 126.6 billion won a year earlier.The company said in a regulatory fi
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Jobs in public sector up 2.6 pct in 2021 amid pandemic

By Kang Yoon-seungSEJONG, Jan. 19 (Yonhap) -- Jobs in the public sector rose 2.6 percent on-year in 2021, data showed Thursday, as the government created more positions for vulnerable people amid the protracted pandemic.A total of 2.83 million people
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KSOE bags 626.7 bln-won order for 2 LNG carriers

SEOUL, Jan. 19 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Thursday it has bagged a 626.7 billion-won (US$505 million) order to build two liquefied natural gas (LNG) carriers from an Oceanic shipper.KSOE said Hyundai Samho H
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Home of Hankook Tire's chief raided in embezzlement probe

By Kim Han-jooSEOUL, Jan. 19 (Yonhap) -- Prosecutors raided the home of Hankook Tire & Technology Co.'s chief and other company places on Thursday as part of their ongoing investigation into embezzlement allegations.Investigators from the Seoul C
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SK On teams up with U.S. graphite processor to develop battery-grade anode materials

By Kim Seung-yeon SEOUL, Jan. 19 (Yonhap) -- South Korean battery maker SK On Co. said Thursday it has joined hands with a U.S. company to jointly develop natural graphite anode materials used in electric vehicle (EV) batteries, in the latest move to
Local think tank lowers 2023 growth projection for S. Korea to 1.8 pct

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SEOUL, Jan. 19 (Yonhap) -- A local think tank on Thursday projected South Korea's economy will grow 1.8 percent this year, downgrading its earlier forecast as global recession worries mount and domestic demand is expected to dwindle amid high inf
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LG Chem completes acquisition of AVEO Pharmaceuticals

SEOUL, Jan. 19 (Yonhap) -- LG Chem Ltd., a major South Korean chemicals firm, said Thursday it will complete the acquisition of AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, later this week.It has invested US$571 million
Korea Aerospace partners with U.S. firm for eVTOL development

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SEOUL, Jan. 19 (Yonhap) -- Korea Aerospace Industries Co. (KAI), the country's sole aircraft manufacturer, said Thursday it has partnered with a U.S. firm to develop an unmanned electric vertical take-off and landing (eVTOL) aircraft. KAI has sig
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(LEAD) S. Korea discusses nuclear power cooperation with Poland, Czech Republic

(ATTN: ADDS additional photo)SEOUL, Jan. 19 (Yonhap) -- South Korea's Industry Minister Lee Chang-yang has met with senior officials from Poland and the Czech Republic to discuss ways to enhance cooperation in nuclear power generation and other a
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S. Korean senior citizens remain mired in poverty: report

SEOUL, Jan. 19 (Yonhap) -- South Korean senior citizens' poverty rate has been on the mend but is still high among members of the Organization for Economic Cooperation and Development (OECD), a report showed Thursday.The relative poverty rate of
S. Korea, UAE economy ministers hold additional consultations on biz ties

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By Kang Yoon-seungSEJONG, Jan. 19 (Yonhap) -- South Korean Finance Minister Choo Kyung-ho has met his United Arab Emirates (UAE) counterpart to discuss follow-up steps for a major investment plan announced by the Middle East nation earlier this week,