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BOK delivers yet another quarter-point rate hike to fight inflation

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SEOUL, Jan. 13 (Yonhap) -- South Korea's central bank delivered a quarter percentage-point interest rate hike Friday as it focuses on tackling persistently high inflation despite mounting worries over an economic slowdown.The Bank of Korea (BOK)
(URGENT) BOK raises benchmark rate by 25 basis points to 3.5 pct

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SK Energy joins hands with state-run power supplier for future car charging stations

By Kim Seung-yeon SEOUL, Jan. 13 (Yonhap) -- SK Energy Co., a major South Korean oil refiner, said Friday it is joining hands with a state-run electric power supplier to build electric vehicle (EV) charging infrastructure at traditional gas stations
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S. Korea to raise nuclear energy dependence to over 30 pct by 2036

SEOUL, Jan. 12 (Yonhap) -- South Korea will raise its dependence on nuclear energy sources to over 30 percent while sharply reducing its reliance on coal by 2036, the energy ministry said Thursday, as the country accelerates its push to reach carbon
5 companies to recall nearly 6,500 vehicles over faulty parts

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SEOUL, Jan. 12 (Yonhap) -- Hyundai Motor Co., GM Korea Co. and three other firms will voluntarily recall nearly 6,500 vehicles to fix faulty components, the transport ministry said Thursday.The five firms, including Volvo Trucks Korea, Hwachang Tradi
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Hyundai chief named 2023 MotorTrend Person of the Year

SEOUL, Jan. 12 (Yonhap) -- Hyundai Motor Group Executive Chair Euisun Chung has been named the 2023 MotorTrend Person of the Year for his leadership in transforming the South Korean carmaker into a major mobility solution provider. U.S. automobile ma
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Kia EV6 wins 2023 N. American Utility Vehicle of the Year

SEOUL, Jan. 12 (Yonhap) -- Kia Corp.'s all-electric EV6 has been named the North American Utility Vehicle of the Year by the North American Car of the Year (NACTOY) jury, the company said Thursday. The EV6 beat its rivals in the assessment of inn
S. Korea to extend foreign exchange trading hours

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By Kang Yoon-seungSEOUL, Jan. 12 (Yonhap) -- South Korea will extend trading hours of its foreign exchange market as part of its efforts to make Asia's No. 4 economy a more attractive investment destination, the finance minister said Thursday.Fin
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Foreigners turn net sellers of Korean securities in Dec.

SEOUL, Jan. 12 (Yonhap) -- Foreign investors turned net sellers of South Korean securities for the first time in three months in December amid high U.S. interest rates, central bank data showed Thursday.Their combined investment funds in local securi
Banks' household loans slip for 1st time in 18 yrs in 2022: BOK

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SEOUL, Jan. 12 (Yonhap) -- Household loans extended by banks in South Korea declined for the first time in 18 years last year, due mainly to higher borrowing costs, the central bank's data showed Thursday.Banks' outstanding household loans de
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KDB set to float Hong Kong dollar, yuan bonds next week

SEOUL, Jan, 12 (Yonhap) -- The state-run Korea Development Bank (KDB) said Thursday it plans to issue a series of bonds denominated in the Hong Kong and Chinese currencies next week to raise necessary funds.The KDB is scheduled to sell on-year bonds
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Samsung Biologics to invest 7.5 tln won to build new production facilities

SEOUL, Jan. 12 (Yonhap) -- Samsung Biologics Co., the biotech arm of South Korea's Samsung Group, said Thursday it will invest 7.5 trillion won (US$6 billion) to build a new biomedicine production complex west of Seoul.Samsung Biologics CEO John
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LG Chem signs deal with local venture for fishing net waste supply

SEOUL, Jan. 12 (Yonhap) -- LG Chem Ltd., South Korea's top chemical producer, said Thursday it has signed an initial agreement with a local startup on the supply of fishing net waste to use it as feedstock for plastic recycling.Netspa, LG Chem
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S. Korea's fiscal deficit widens through Nov.

SEOUL, Jan. 12 (Yonhap) -- South Korea's fiscal deficit widened 21 trillion won (US$16.8 billion) in the first 11 months of last year due to increased expenditures amid the pandemic.The managed fiscal balance, a key gauge of fiscal health calcula
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Temporary owners of 2 homes to be given more leeway on taxes

By Kang Yoon-seungSEOUL, Jan. 12 (Yonhap) -- South Korea's finance ministry said Thursday owners of two homes will pay less taxes if they dispose of one of them during an extended period amid a slump in the home market.Under the plan, such homeow
Top headlines in major S. Korean newspapers

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SEOUL, Jan. 12 (Yonhap) -- The following are the top in major South Korean newspapers on Jan. 12.Korean-language dailies-- NIS restores intelligence unit responsible for collecting corporate information: sources (Kyunghyang Shinmun)-- S. Korea, U.S.
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(LEAD) Biden hails US$2.6 bln investment plan by S. Korea's Hanwha Solutions as 'big deal'

(ATTN: UPDATES with remarks from White House spokesperson, additional information in paras 4, 8-10; ADDS photo)By Byun Duk-kunWASHINGTON, Jan. 11 (Yonhap) -- U.S. President Joe Biden on Wednesday welcomed Hanwha Solutions' plan to build a solar p
Biden hails US$2.6 bln investment plan by S. Korea's Hanwha Solutions as 'big deal'

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By Byun Duk-kunWASHINGTON, Jan. 11 (Yonhap) -- U.S. President Joe Biden on Wednesday welcomed Hanwha Solutions' plan to build a solar panel production facility in the U.S., calling it a "big deal" for American workers and the U.S. eco
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Honda Korea to launch online platform to sell cars

SEOUL, Jan. 12 (Yonhap) -- Honda Korea Co. said Thursday it will launch three new models and a platform to sell its vehicles online this year to revive its lackluster sales, becoming the first import carmaker that will go fully online. Honda Korea pl
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Hanwha Solutions to invest 3.2 tln won to build 'solar hub' in Georgia

SEOUL, Jan. 11 (Yonhap) -- Hanwha Solutions Corp. said Wednesday it will invest 3.2 trillion won (US$2.57 billion) to build a production complex for solar panel parts in Georgia, the United States, as the company tries to strengthen its presence in t