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  Kakao to acquire live commerce firm Grip for 180 bln won: sources

  SEOUL, Dec. 1 (Yonhap) -- Kakao Corp. will acquire a majority stake of live commerce startup firm Grip Co., according to sources Wednesday.The South Korean tech giant plans to acquire a 48 percent stake of the company for 180 billon won (US$152.5 mil
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  OECD ups 2022 growth outlook for S. Korean economy to 3 pct

  SEOUL, Dec. 1 (Yonhap) -- The Organization for Economic Cooperation and Development (OECD) on Wednesday revised up its 2022 growth outlook for the South Korean economy to 3 percent, citing robust exports and a recovery of private spending.The OECD
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  Nov. vehicle sales fall 15 pct amid chip shortage

  SEOUL, Dec. 1 (Yonhap) -- South Korean automakers' sales fell 15 percent last month from a year earlier as a prolonged chip shortage continued to affect vehicle production and sales, industry data showed Wednesday.The country's five carmakers
• Kia's Nov. sales fall 13 pct on chip shortage

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  SEOUL, Dec. 1 (Yonhap) -- Kia Corp., South Korea's second-largest automaker, said Wednesday its sales fell 13 percent last month from a year earlier as a global chip shortage continued to affect its production. Kia sold a total of 222,232 vehicle
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  K Shipbuilding gets approval for design of methanol-propelled ships

  By Nam Kwang-sik SEOUL, Dec. 1 (Yonhap) -- Midsized shipbuilder K Shipbuilding Co., formerly known as STX Offshore & Shipbuilding Co., has obtained an approval in principle for the basic design of methanol-powered oil tankers from ABS, a U.S. ship qu
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  POSCO seeks to shift into holding firm

  SEOUL, Dec. 1 (Yonhap) -- POSCO, South Korea's top steelmaker, is planning to transform into a holding company by splitting it into two business entities, industry sources said Wednesday.After the breakup, the steelmaking group's holding comp
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  Samsung likely to retain 3 CEOs to ensure management stability

  By Woo Jae-yeonSEOUL, Dec. 1 (Yonhap) -- Samsung Electronics Co. is likely to retain three CEOs in the upcoming personnel reshuffle, industry sources said Wednesday, in a move to ensure a stable management environment amid fierce global competitions.
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  Hyundai's Nov. sales fall 17 pct amid chip shortage

  SEOUL, Dec. 1 (Yonhap) -- Hyundai Motor Co., South Korea's biggest carmaker, said Wednesday its sales fell 17 percent last month from a year earlier amid global chip shortages.Hyundai Motor sold 312,602 vehicles in November, down from 377,193 uni
• GM Korea's Nov. sales dip 43 pct on chip shortages

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  SEOUL, Dec. 1 (Yonhap) -- GM Korea Co. said Wednesday its sales tumbled 43 percent last month from a year earlier as chip shortages continued to disrupt its production. The South Korean unit of General Motors Co. sold 12,274 vehicles in November, dow
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  Renault Samsung's Nov. sales more than doubled on exports

  SEOUL, Dec. 1 (Yonhap) -- Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Wednesday its vehicle sales more than doubled last month from a year earlier on robust exports. Renault Samsung sold 11,743 vehicles in November, shar
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  SsangYong's Nov. sales fall 26 pct on lower demand

  SEOUL, Dec. 1 (Yonhap) -- SsangYong Motor Co. said Wednesday its sales fell 26 percent last month from a year earlier amid a prolonged chip shortage. SsangYong Motor sold 8,748 vehicles in November, down from 11,859 units a year earlier, the company
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  2nd batch of Chinese urea set to arrive in S. Korea

  SEOUL, Dec. 1 (Yonhap) -- The second batch of urea under export inspection in China was to arrive in South Korea on Wednesday, the oceans ministry said, which is expected to help address supply crunch of urea solution, a key fluid needed in diesel ca
• Leasing firm, affiliate fined over illegal support

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  SEOUL, Dec. 1 (Yonhap) -- South Korea's antitrust regulator said Wednesday it has decided to impose a combined 2.37 billion-won (US$2 million) fine on SYS Holdings and its affiliate for the parent company's illegal support.SYS Holdings, a lea
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  About 2,600 fraud cases targeting trading firms reported over 5 years

  SEOUL, Dec. 1 (Yonhap) -- About 2,600 cases of foreign currency fraud targeting trading firms in South Korea have been reported over the past five years, the financial regulator said Wednesday.The Financial Supervisory Service (FSS) said a total of 2
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  Daewoo Shipbuilding wins 1.5 tln won orders for 6 LNG carriers

  By Nam Kwang-sikSEOUL, Dec. 1 (Yonhap) -- Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Wednesday it has bagged orders worth a combined 1.5 trillion won (US$1.3 billion) to build six liquefied natural gas (LNG) carriers.Under the deals wit
• Corporate loan growth accelerates in Q3

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  SEOUL, Dec. 1 (Yonhap) -- Corporate loan growth in South Korea quickened in the third quarter from three months earlier mainly due to a rise in loans to the service sector, central bank data showed Wednesday. The outstanding loans extended to local c
• Banks' average capital adequacy ratio rises in Q3

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  SEOUL, Dec. 1 (Yonhap) -- South Korean banks saw their financial health improve in the third quarter from three months earlier thanks to increased profits and capital, data showed Wednesday.According to the data by the Financial Supervisory Service (
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  Samsung Heavy succeeds in reselling drill ship for US$245 million

  By Nam Kwang-sik SEOUL, Dec. 1 (Yonhap) -- Samsung Heavy Industries Co. said Wednesday it has signed a US$245 million deal with a European company to sell its drill ship it has failed to deliver due to a botched deal. "The deal will help improv
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  (LEAD) S. Korea's exports rise 32 pct to hit fresh monthly high in Nov.

  (ATTN: ADDS more details in paras 4-5, 7-17)By Oh Seok-minSEOUL, Dec. 1 (Yonhap) -- South Korea's exports spiked 32.1 percent on-year to reach an all-time monthly high in November on the back of strong global demand for chips and petro products,
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  S. Korean manufacturing index above par for 14th month in Nov.: IHS Markit

  SEOUL, Dec. 1 (Yonhap) -- South Korea's manufacturing activity remained in the expansionary phase for 14 months running in November on brisk exports, a global market researcher said Wednesday.The purchasing managers' index (PMI) of the countr