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Pandemic heavily eroded profit margins of lodging, eatery sector in 2020: data

SEJONG, June 28 (Yonhap) -- The accommodation and restaurant sector in South Korea reported the biggest fall in operating profit margins in 2020 compared with 2015 due to the COVID-19 pandemic, data showed Tuesday.The ratio of operating profit agains
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Ruling party calls for bipartisan cooperation on semiconductor industry

SEOUL, June 28 (Yonhap) -- The ruling People Power Party (PPP) on Tuesday called for bipartisan cooperation on developing the country's semiconductor industry as it launched a special panel on chips.Led by Rep. Yang Hyang-ja, a Samsung Electronic
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(LEAD) Court approves KG consortium as final bidder for SsangYong

(ATTN: UPDATES with details in paras 7-14; CHANGES headline) SEOUL, June 28 (Yonhap) -- A Seoul court on Tuesday approved SsangYong Motor Co.'s decision to select a local consortium led by chemical-to-steel firm KG Group as the final bidder for t
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SsangYong Motor picks KG consortium as final bidder

SEOUL, June 28 (Yonhap) -- SsangYong Motor Co. said Tuesday it awaits a court's approval for its decision to select a local consortium led by chemical-to-steel firm KG Group as the final bidder for the debt-laden carmaker.SsangYong has applied fo
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S. Korea's overseas financial assets hit new high in 2021

SEOUL, June 28 (Yonhap) -- South Korea's overseas financial assets hit a new high in 2021 thanks largely to a jump in investment in U.S. stocks, central bank data showed Tuesday. The nation's external financial assets came to US$1.715 trillio
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Proportion of 1-person households to hit nearly 40 pct in 2050: gov't

By Kim Soo-yeonSEJONG, June 28 (Yonhap) -- The proportion of one-person households in South Korea is expected to reach nearly 40 percent in 2050 due to a delay in marriages and rapid aging, a government estimate showed Tuesday.The number of household
No. of holding companies in S. Korea up slightly in 2021

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SEJONG, June 28 (Yonhap) -- The number of holding companies in South Korea saw a slight net increase last year from a year earlier amid the government's efforts to encourage firms to have a more transparent governance structure, the corporate wat
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Retail sales up 10.1 pct in May amid eased virus curbs

SEOUL, June 28 (Yonhap) -- Retail sales in South Korea rose 10.1 percent on-year in May on the back of growing demand for fashion-related items and other services amid the government's relaxation of COVID-19 curbs and the growth in people's o
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Korean Air to restore flights to half of pre-pandemic level by Sept.

SEOUL, June 28 (Yonhap) -- Korean Air Lines Co., South Korea's national flag carrier, said Tuesday it will restore its international flights to half of the pre-pandemic levels by September as pent-up travel demand is unleashed amid eased virus cu
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(LEAD) Finance chief calls for corporate restraints on 'excessive' wage increase amid inflation woes

(ATTN: ADDS more remarks from 7th para, additional photo)SEOUL, June 28 (Yonhap) -- Finance Minister Choo Kyung-ho asked companies Tuesday to refrain from excessively raising wages for employees as the move could further accelerate inflation.Choo mad
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Finance chief calls for corporate restraints on 'excessive' wage increase amid inflation woes

SEOUL, June 28 (Yonhap) -- Finance Minister Choo Kyung-ho asked companies Tuesday to refrain from excessively raising wages for employees as the move could further accelerate inflation.Choo made the request during a meeting with members of the Korea
Top headlines in major S. Korean newspapers

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SEOUL, June 28 (Yonhap) -- The following are the top in major South Korean newspapers on June 28.Korean-language dailies-- Industries call for freeze in minimum wage despite increase in public utility fees (Kyunghyang Shinmun)-- Hikes in electricity
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(LEAD) S. Korea to raise Q3 electricity rate amid high energy costs, inflation

(ATTN: ADDS more details from 6th para, additional photo)SEOUL, June 27 (Yonhap) -- South Korea said Monday it will raise electricity rates for the third quarter and natural gas prices for civilian use starting next month amid mounting inflationary p
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S. Korea to raise Q3 electricity rate amid high energy costs, inflation

SEOUL, June 27 (Yonhap) -- South Korea said Monday it will raise electricity rates for the third quarter and natural gas prices for civilian use starting next month amid mounting inflationary pressure due to high global energy costs.The state-run pow
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Korea Shipbuilding wins 745 bln won patrol ship deal from Philippines

SEOUL, June 27 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has received a 745 billion won (US$573 million) patrol vessel order from the Philippines. Under the deal signed in Manila, Korea Shipbuilding will build si
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S. Korean currency rises by most in 1 month amid eased recession fears

SEOUL, June 27 (Yonhap) -- The South Korean currency rose by the most against the U.S. dollar in about one month on Monday as expectations that the Federal Reserve may slow its aggressive monetary tightening eased concerns about a global economic rec
BOK deputy chief to attend FSB meeting this week

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SEOUL, June 27 (Yonhap) -- A top official of the Bank of Korea (BOK) will attend a meeting of the Financial Stability Board (FSB) this week in the Netherlands and discuss global cooperation, Seoul's central bank said Monday.Bank of Korea (BOK) De
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4 out of 10 firms in S. Korea experience raw materials price hikes higher than 20 pct: survey

SEOUL, June 27 (Yonhap) -- About 4 out of 10 companies in South Korea saw their raw material prices jump 20 percent or more this year amid fast-rising oil and commodity bills, a central bank survey showed Monday. According to the survey by the Bank o
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Industry minister to visit Czech Republic, Poland for nuclear energy sales

SEOUL, June 27 (Yonhap) -- South Korea's Industry Minister Lee Chang-yang will visit the Czech Republic and Poland this week to support local firms in winning contracts for building new power plants there, his office said Monday.Lee is scheduled
Doosan Enerbility, Siemens' affiliate sign MOU for wind power business

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SEOUL, June 26 (Yonhap) -- Doosan Enerbility Co., a heavy industry affiliate of South Korea's Doosan Group, said Sunday it has signed an initial pact with a German company for cooperation in the offshore wind power business. Doosan Enerbility, fo