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  SK invests $250 mln in U.S. reactor startup TerraPower

  SEOUL, Aug. 15 (Yonhap) -- Two affiliates of South Korean refining-to-semiconductors conglomerate SK Group said Monday they have invested US$250 million in U.S. nuclear reactor design firm TerraPower for joint business opportunities. Through the inve
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  S. Korea's 4 refiners post record H1 operating profit

  SEOUL, Aug. 15 (Yonhap) -- South Korea's four major refiners posted a record combined operating profit in the first half as high oil prices pushed up refining margins, their earnings data showed Monday. From January to June, SK Innovation Co., GS
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  Hyundai ranks 3rd in H1 global vehicle sales

  SEOUL, Aug. 15 (Yonhap) -- South Korea's Hyundai Motor Group said Monday it ranked third in first-half global vehicle sales on increased high-end model sales despite the lack of automotive chips. Hyundai Motor Co., its independent Genesis brand a
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  Foreign stock ownership dips to 13-year low amid Fed's aggressive rate hikes

  SEOUL, Aug. 14 (Yonhap) -- Foreigner ownership of South Korean stocks hit a 13-year low this month, the bourse operator said Sunday, as demand for riskier assets declined amid the Federal Reserve's aggressive rate hikes.Foreign investors held 606
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  Gov't to cut expenditure next year amid economic challenges: finance minister

  SEOUL, Aug. 13 (Yonhap) -- The South Korean government plans to cut its expenditures next year, the finance minister said Sunday, as the country aims to tighten its belt amid economic challenges and inflation. The remark indicates the government'
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  Asiana Airlines shifts to net loss in Q2 on FX losses

  SEOUL, Aug. 12 (Yonhap) -- Asiana Airlines Inc., South Korea's second-biggest carrier, said Friday it shifted to a net loss in the second quarter from a year earlier on increased foreign-exchange losses. Asiana swung to a net loss of 212.92 billi
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  Citibank Korea's Q2 net jumps 21 pct on robust interest profit

  By Chung Joo-wonSEOUL, Aug. 12 (Yonhap) -- Citibank Korea Inc., the South Korean unit of Citigroup Inc., on Friday reported a 21 percent on-year rise in its second-quarter net profit thanks to increased interest revenue.Consolidated net profit stood
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  Jin Air H1 net losses narrow on recovering travel demand

  SEOUL, Aug. 12 (Yonhap) -- Jin Air Co., the budget carrier unit of Korean Air Lines Co., said Friday its first-half net losses narrowed from a year earlier on recovering travel demand amid eased virus curbs.Net losses for the six months ended in June
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  POSCO International pushing to merge with energy affiliate

  By Kim Seung-yeon SEOUL, Aug. 12 (Yonhap) -- POSCO International Corp., a trading arm of South Korean steel giant POSCO Holdings Co., said Friday it will push to merge with an energy affiliate, as it seeks to expand its business portfolio into renewa
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  Hyundai to build AI research center in U.S. in robotics push

  By Kim Seung-yeonSEOUL, Aug. 12 (Yonhap) -- Hyundai Motor Group said Friday it will spend US$424 million to build an artificial intelligence (AI) research center in the United States to bolster its edge in robotics technology, an area it cites as a k
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  POSCO Holdings to cancel 672 bln won worth of own stocks

  SEOUL, Aug. 12 (Yonhap) -- POSCO Holdings Co., South Korea's top steelmaker, said Friday it has decided to cancel 672 billion won (US$517 million) worth of its stocks to boost shareholder value.Some 2.61 million treasury shares subject to the mov
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  Biz circle welcomes pardons of Samsung heir Lee, other moguls

  SEOUL, Aug. 12 (Yonhap) -- South Korea's business circle on Friday welcomed President Yoon Suk-yeol's decision to grant special pardons to Samsung heir Lee Jae-yong and other business leaders, and vowed efforts to help the nation tide over th
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  (LEAD) KEPCO Q2 loss widens sharply on higher fuel costs

  (ATTN: RECASTS title, lead; ADDS more info throughout, photo)SEOUL, Aug. 12 (Yonhap) -- The state-run Korea Electric Power Corp. saw its net loss widen sharply in the second quarter of the year on frozen electricity rates amid higher fuel costs.The c
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  SEOUL, Aug. 12 (Yonhap) -- The state-run Korea Electric Power Corp. on Friday reported a second-quarter net loss of 4.83 trillion won (US$3.7 billion), remaining in the red compared with a year ago.The company said in a regulatory filing that it cont
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  (LEAD) Samsung Life Insurance Q2 net jumps 70.3 pct

  (ATTN: RECASTS headline, lead; ADDS info throughout, photo)SEOUL, Aug. 12 (Yonhap) -- Samsung Life Insurance Co., South Korea's top life insurer, said Friday its second-quarter earnings surged more than 70 percent thanks to decreased claims paid
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  Samsung Biologics tentatively agrees to work with AstraZeneca on contract manufacturing

  SEOUL, Aug. 12 (Yonhap) -- Samsung Biologics Co., the biotech arm of South Korea's Samsung Group, said Friday it has tentatively agreed to work with multinational pharmaceutical company AstraZeneca on biopharmaceutical contract manufacturing.The
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  S. Korean auto industry requests U.S. House rethink proposed tax credits for EV purchases

  By Kim Seung-yeon SEOUL, Aug. 12 (Yonhap) -- A major association for South Korea's car industry has sent a letter to the U.S. House of Representatives and requested changes in tax incentives proposed under a major climate change and energy bill,
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  (LEAD) NCSOFT Q2 net up 25.8 pct on robust sales

  (ATTN: CHANGES headline; ADDS more details throughout, photo)SEOUL, Aug. 12 (Yonhap) -- NCSOFT Corp., a major South Korean online and mobile game developer, on Friday reported a second-quarter net profit of 118.7 billion won (US$91.1 million), up 25.
• Kangwon Land Q2 net profit up 79.6 pct. to 37.5 bln won

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  SEOUL, Aug. 12 (Yonhap) -- Kangwon Land Inc. on Friday reported its second-quarter net profit of 37.5 billion won (US$28.7 million), up 79.6 percent from a year earlier.The company said in a regulatory filing that operating income for the April-June
• Samsung Life Insurance Q2 net income up 70.3 pct. to 199 bln won

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  SEOUL, Aug. 12 (Yonhap) -- Samsung Life Insurance Co. on Friday reported its second-quarter net profit of 199 billion won (US$152.7 million), up 70.3 percent from a year earlier.Operating income for the April-June period was 270.4 billion won, up 706