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Lee vows legalization of virtual asset industry
SEOUL, Jan. 19 (Yonhap) -- Ruling party presidential candidate Lee Jae-myung said Wednesday he will institutionally recognize the virtual asset industry and guarantee various business opportunities.Lee of the Democratic Party made the remarks in a me
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S. Korea, U.S. discuss new economic framework, supply chains
SEOUL, Jan. 19 (Yonhap) -- The top trade officials of South Korea and the United States on Wednesday agreed to strengthen their strategic partnership to actively respond to supply chain issues, new technologies and other major trade issues, Seoul'
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State pension fund cuts exposure to domestic shares in 2021
SEOUL, Jan. 19 (Yonhap) -- South Korea's state pension fund lowered its exposure to large cap and other domestic shares in 2021 in an apparent bid to boost returns and diversify its portfolio, a corporate tracker said Wednesday.The National Pensi
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Housing prices to further stabilize on monetary tightening: finance minister
SEOUL, Jan. 19 (Yonhap) -- Housing prices are expected to further stabilize due largely to the central bank's rate hikes and the Federal Reserve's push for faster monetary tightening, Finance Minister Hong Nam-ki said Wednesday.Hong also voic
Top headlines in major S. Korean newspapers
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SEOUL, Jan. 19 (Yonhap) -- The following are the top in major South Korean newspapers on Jan. 19.Korean-language dailies-- There is no presidential election candidate with marked lead in support (Kyunghyang Shinmun)-- Many unskilled foreign workers
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Hyundai, Kia sales in Europe exceed 1 mln units in 2021
SEOUL, Jan. 18 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Corp.'s sales jumped 21 percent on-year to exceed 1 million units in Europe last year on environment-friendly models, industry data showed Tuesday. Hyundai and Kia sold a combined
S. Korea aims to minimize market impact of extra budget-related bond sale: official
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SEOUL, Jan. 18 (Yonhap) -- South Korea plans to sell similar amounts of state bonds over periods in a bid to minimize its impact on the government bond market as it plans to use debt sale to finance an extra budget, a senior government official said
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(LEAD) S. Korea aims to minimize market impact of extra budget-related bond sale: official
(ATTN: UPDATES with bond market reaction in paras 5-8)SEOUL, Jan. 18 (Yonhap) -- South Korea plans to sell similar amounts of state bonds over periods in a bid to minimize its impact on the government bond market as it plans to use debt sale to finan
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Lottery sales hit all-time high in 2021 amid COVID-19 pandemic
SEOUL, Jan. 18 (Yonhap) -- Lottery sales in South Korea rose 10.3 percent on-year to reach an all-time high last year amid the COVID-19 pandemic, data showed Tuesday.Sales of lottery tickets stood at 5.98 trillion won (US$5.02 billion) in 2021, compa
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S. Korea aims to minimize market impact of extra budget-related bond sale: official
SEOUL, Jan. 18 (Yonhap) -- South Korea plans to sell similar amounts of state bonds over periods in a bid to minimize its impact on the government bond market as it plans to use debt sale to finance an extra budget, a senior government official said
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(LEAD) 23 shippers fined 96.2 bln won for collusion on freight rates
(ATTN: UPDATES with more details throughout; REWRITES lead; ADDS byline)By Kim Soo-yeonSEOUL, Jan. 18 (Yonhap) -- South Korea's antitrust regulator said Tuesday it has decided to impose a combined fine of 96.2 billion won (US$80.7 million) on 23
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POSCO International recommended corporate responsibility over Indonesia's palm oil biz
SEOUL, Jan. 18 (Yonhap) -- South Korea on Tuesday recommended POSCO International Corp. exercise greater corporate social responsibility over its palm oil business in Indonesia following a complaint by civic groups about its alleged adverse impacts o
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S. Korea's instant meals market skyrockets 145 pct over 4 years
SEOUL, Jan. 18 (Yonhap) -- The South Korean market of instant meals jumped more than 145 pct in 2020 from four years earlier on the increased number of convenience stores and the coronavirus pandemic, data showed Tuesday.Shipments of ready-to-eat ite
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Swedish EV firm launches Polestar 2 in S. Korea
SEOUL, Jan. 18 (Yonhap) -- Swedish premium electric carmaker Polestar on Tuesday launched the Polestar 2, its first fully electric, high-volume model, in South Korea to gain a share in the local EV market. The Polestar 2 electric performance fastback
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23 shippers fined 96.2 bln won for collusion on freight rates
SEOUL, Jan. 18 (Yonhap) -- South Korea's antitrust regulator said Tuesday it has decided to impose a combined fine of 96.2 billion won (US$80.7 million) in fines on 23 Korean and foreign shippers for their collusion to fix freight rates.Since 201
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Auto exports up 8.6 pct in 2021 on popularity of eco-friendly cars
SEOUL, Jan. 18 (Yonhap) -- South Korea's auto exports rose 8.6 percent on-year in 2021 on the back of the growing popularity of local brands in the global market and solid demand for eco-friendly vehicles, the industry ministry said Tuesday.Outbo
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LG Chem to build hydrothermal plastic recycling plant in S. Korea
SEOUL, Jan. 18 (Yonhap) -- LG Chem Ltd., South Korea's leading chemical producer, said Tuesday it is building its first plastic recycling plant in South Korea that will process used plastics using high-temperature steam, accelerating its push for
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(LEAD) HDC Hyundai Development chairman offers to resign over Gwangju apartment building collapse
(ATTN: UPDATES with Chung's visit in 8th para and stock prices in last 4 paras, minor edits)SEOUL, Jan. 17 (Yonhap) -- The chairman of major South Korean real estate developer HDC Hyundai Development Co. offered to step down Monday to take respon
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Finance chief rejects ruling party's call to expand extra budget
SEOUL, Jan. 17 (Yonhap) -- Finance Minister Hong Nam-ki on Monday opposed the ruling party's call to increase the size of the government-proposed extra budget.The finance ministry is working on another round of an extra budget worth some 14 trill
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Korea Shipbuilding bags cargo ship orders valued at combined 511 bln won
SEOUL, Jan. 17 (Yonhap) -- Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has secured 511 billion won (US$428.4 million) in orders to build five cargo vessels.Under the two separate deals, KSOE will build three 7,900 twenty-foot
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