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• Foreign currency deposits down in Aug. on declined corporate savings

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  SEOUL, Sept. 20 (Yonhap) -- Foreign currency deposits at banks in South Korea shrank in August partly due to businesses withdrawing foreign investment and pulling back savings to pay for imports, central bank data showed Tuesday.Residents' outsta
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  S. Korea, Ecuador hold new round of talks for bilateral trade deal

  SEOUL, Sept. 20 (Yonhap) -- South Korea and Ecuador began a seventh round of talks Tuesday on the formation of a bilateral free trade deal, the trade ministry here said.The two nations launched negotiations for the strategic economic cooperation agre
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  Financial firms continue to close offline offices amid increased use of mobile services

  SEOUL, Sept. 20 (Yonhap) -- The number of offline offices run by financial firms in South Korea declined more than 1,000 over the past year as the use of mobile services spiked amid their fast transition to digitalization, data showed Tuesday.Local f
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  Industry chief to visit U.S. for talks on EV tax credit, chips bills

  SEOUL, Sept. 20 (Yonhap) -- South Korean Industry Minister Lee Chang-yang departed for Washington on Tuesday for talks with U.S. officials on ways to minimize impacts on South Korea by new U.S. bills on tax incentives for electric vehicles and invest
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  Third overseas bhc chicken to open in Malaysia next month

  SEOUL, Sept. 20 (Yonhap) -- South Korea's second-largest chicken franchise by sales, bhc Group, said Tuesday it will open its third store in Malaysia next month as part of its strategy to expand into Southeast Asia. The new restaurant, which is s
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  Samsung SDI showcases battery products, technologies at int'l truck show

  SEOUL, Sept. 20 (Yonhap) -- Samsung SDI Co. presented its latest battery technologies and products for commercial vehicles at an international exhibition taking place in Germany this week, the South Korean battery maker said Tuesday. The exhibits at
• Top headlines in major S. Korean newspapers

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  SEOUL, Sept. 20 (Yonhap) -- The following are the top in major South Korean newspapers on Sept. 20.Korean-language dailies-- Only 14 pct sentenced at court in stalking crimes (Kyunghyang Shinmun)-- S. Korea's economy to grow 2.2 pct next year, t
• Hanwha General Insurance to raise 190 bln won via stock sale

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  SEOUL, Sept. 19 (Yonhap) -- Hanwha General Insurance Co. on Monday announced that it will sell stocks to raise 190 billion won(US$136.3 million). The proceeds from the stock offering will be used primarily to finance its operations.According to a reg
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  Hyundai, IVECO unveil hydrogen vehicle in extended partnership

  SEOUL, Sept. 19 (Yonhap) -- South Korea's Hyundai Motor Co. on Monday unveiled a hydrogen-powered vehicle based on Italian carmaker IVECO Group N.V.'s DAILY van in their extended commercial car partnership. Hyundai Motor and IVECO debuted the
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  Unionists seek to bring suit against Samsung Electronics over 'peak wage' policy

  SEOUL, Sept. 19 (Yonhap) -- Labor unionists of Samsung Electronics Co. are seeking to file a suit against the tech giant over its "peak wage" policy, sources said Monday.Samsung's biggest labor union has been seeking participants in t
• East Asia Holdings Investment to raise 15.1 bln won via stock offering

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  SEOUL, Sept. 19 (Yonhap) -- East Asia Holdings Investment Ltd. on Monday announced that it will sell stock to raise 15.1 billion won(US$10.8 million). The proceeds from the stock sale will be used mainly to finance stock acquisition.According to a re
• Icure Pharmaceutical Incorp. to raise 80 bln won via stock offering

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  SEOUL, Sept. 19 (Yonhap) -- Icure Pharmaceutical Incorp. on Monday announced that it will sell stock to raise 80 billion won(US$57.4 million). The proceeds from the stock sale will be used mainly to pay off its debts.According to a regulatory filing,
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  OECD raises inflation outlook for S. Korea to 5.2 pct, growth forecast to 2.8 pct

  SEOUL, Sept. 19 (Yonhap) -- The Organization for Economic Cooperation and Development (OECD) on Monday raised its 2022 inflation outlook for South Korea to 5.2 percent amid high energy prices over the protracted war in Ukraine.The organization also r
• Savings banks see H1 net shrink 15.1 pct on increased loss reserves

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  SEOUL, Sept. 19 (Yonhap) -- Savings banks in South Korea saw their combined net profit decline 15.1 percent on-year in the first half despite increased interest income as they set aside more loan loss reserves amid heightened economic uncertainty, da
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  Seoul targets half of new vehicles as autonomous ones in 2035

  SEOUL, Sept. 19 (Yonhap) -- South Korea is targeting to commercialize a Level 4 autonomous vehicle in 2027 to release half of newly launched vehicles as Level 4 models in 2035, the transport ministry said Monday. This year, Korea aims to become the w
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  KSOE wins 525 bln-won order for 8 ships

  SEOUL, Sept. 19 (Yonhap) -- Major South Korean shipyard Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has bagged a 525 billion-won (US$378 million) order to build eight ships for two African shipping firms.Hyundai Samho Heavy In
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  Gov't to extend subsidies for diesel vehicle drivers to year-end

  SEOUL, Sept. 19 (Yonhap) -- The government decided to extend subsidies for diesel vehicle drivers until the end of this year to help ease their burden from high fuel costs, Finance Minister Choo Kyung-ho said Monday.In May, the government began imple
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  Samsung widens gap between Intel as world's largest chipmaker by revenue in Q2

  SEOUL, Sept. 19 (Yonhap) -- Samsung Electronics Co. expanded its market share of the global semiconductor industry in the second quarter, maintaining its top spot, a research showed Monday.Samsung's chip revenue for the April-June period
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  S. Korea reports new African swine fever case in about month

  SEOUL, Sept. 19 (Yonhap) -- South Korea will slaughter some 7,000 pigs to try to stem the spread of African swine fever (ASF) following a new outbreak at a local farm, the agriculture ministry said Monday.The animal disease broke out at a pig farm in
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  Project full of irregularitiesFurther probe needed over solar panel fundsA government probe has found that the previous Moon Jae-in administration's renewable energy project was hit by widespread irregularities and wasted taxpayers' money. La