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S. Korea, Portugal agree on revised double-tax avoidance pact

SEOUL, May 19 (Yonhap) -- South Korea's finance ministry said Friday it has revised a double-taxation prevention pact with Portugal in line with efforts to promote economic exchanges.The revision is aimed at accurately reflecting the evolving eco
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Hyundai, Kia OK US$200 mln settlement in U.S. car theft class-action suit

SEOUL, May 19 (Yonhap) -- South Korea's Hyundai Motor Co. and its smaller affiliate Kia Corp. said Friday they have agreed to a US$200 million settlement in a class-action lawsuit filed by U.S. consumers over a series of car thefts of their vehic
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Yoon accepts resignation of KEPCO chief amid record losses

SEOUL, May 19 (Yonhap) -- President Yoon Suk Yeol has accepted the state-run utility Korea Electric Power Corp. (KEPCO) chief's resignation to have him take responsibility for the firm's snowballing losses and financial woes, officials said F
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(LEAD) S. Korea issues highest-level warning against foot-and-mouth disease

(ATTN: RECASTS throughout with issuance of highest FMD warning level)SEOUL, May 19 (Yonhap) -- South Korea on Friday raised the crisis level of the foot-and-mouth disease (FMD) to the highest point in central regions and will implement beefed-up quar
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Finance minister discusses bilateral ties with Chinese envoy

SEOUL, May 19 (Yonhap) -- Finance Minister Choo Kyung-ho met with Chinese Ambassador to South Korea Xing Haiming on Friday to discuss economic ties and other bilateral issues, his office said.During the meeting, Choo expressed hope that South Korea a
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LS Group's U.S. cable unit lures 200 bln won via pre-IPO

SEOUL, May 19 (Yonhap) -- Superior Essex Inc. (SPSX), the U.S. cable unit of South Korean electrical equipment giant LS Group, said Friday it has succeeded in attracting some 200 billion won (US$150 million) via a pre-initial public offering (IPO).Su
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(LEAD) U.S. weighs suit against Korean Air's planned acquisition of Asiana: report

(ATTN: UPDATES with Korean Air's response and other details in paras 5-7, 10-14; MOVES UP photo) SEOUL, May 19 (Yonhap) -- The U.S. government is considering suing to block South Korean national flag carrier Korean Air Co.'s planned acquisiti
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S. Korea reports additional foot-and-mouth disease case, total at 11

SEOUL, May 19 (Yonhap) -- South Korea on Friday confirmed an additional foot-and-mouth disease (FMD) case at a local farm, raising the number of cases to 11 this year, the agriculture ministry said. The latest case was found at a beef cattle farm in
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LG Energy Solution invests in Australian mining company for lithium supply

SEOUL, May 19 (Yonhap) -- LG Energy Solution Ltd. (LGES) said Friday it has signed an investment agreement with an Australian lithium developer in an effort to bolster the sourcing of the critical mineral used in electric vehicle (EV) batteries. Unde
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U.S. weighs suit against Korean Air's planned acquisition of Asiana: report

SEOUL, May 19 (Yonhap) -- The U.S. government is considering suing to block South Korean national flag carrier Korean Air Co.'s planned acquisition of its smaller domestic rival Asiana Airlines Inc. due to competition reasons, a news report has s
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Coface estimates S. Korea's economic growth at 1.2 pct in 2023

By Kim Na-youngSEOUL, May 19 (Yonhap) -- South Korea's economy is expected to grow 1.2 percent this year due to weak global demand, high interest rates and the tight energy market, top economists of French credit insurance agency Coface have said
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Renault Korea, Geely developing new SUV for launch next year

BUSAN, May 18 (Yonhap) -- Renault Korea Motors, the South Korean unit of Renault S.A., has said it is developing a new SUV in a joint project with a Chinese automaker initially for a domestic launch next year.Renault Korea said it will collaborate wi
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(LEAD) S. Korea seeks greater investment from Swiss bio firms

(ATTN: CHANGES photo)SEOUL, May 18 (Yonhap) -- South Korea's Trade Minister Ahn Duk-geun on Thursday asked for the Swiss government's support for the European nation's bio companies to encourage them to expand investment in South Korea, S
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(LEAD) S. Korean display firms to invest 65 tln won by 2027 to reclaim global top spot

(ATTN: ADDS association official's comments in last 2 paras, photo)SEOUL, May 18 (Yonhap) -- Samsung Display Co., LG Display Co and other South Korean display companies will make a combined investment of over 65 trillion won (US$48.77 billion) by
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S. Korea, Malaysia discuss ways to boost supply chains of raw materials, economic ties

SEOUL, May 18 (Yonhap) -- South Korea and Malaysia discussed ways Thursday to deepen bilateral economic relations and to boost cooperation on supply chains of raw materials and new industry sectors, Seoul's industry ministry said.The discussions
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S. Korea seeks greater investment from Swiss bio firms

SEOUL, May 18 (Yonhap) -- South Korea's Trade Minister Ahn Duk-geun on Thursday asked for the Swiss government's support for the European nation's bio companies to encourage them to expand investment in South Korea, Seoul's trade mini
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Hyundai to launch upgraded G70 models in S. Korea

SEOUL, May 18 (Yonhap) -- South Korea's Hyundai Motor Co. said Thursday it will launch the G70 and G70 Shooting Brake upgraded models in the domestic market.Beginning Friday, the G70 sedan will be available with a 2.5-liter gasoline turbocharged
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S. Korean display firms to invest 65 tln won by 2027 to reclaim global top spot

SEOUL, May 18 (Yonhap) -- Samsung Display Co., LG Display Co and other South Korean display companies will make a combined investment of over 65 trillion won (US$48.77 billion) by 2027 to secure innovative technologies and reclaim the world's No.
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S. Korea's antitrust regulator approves takeover of Credit Suisse by UBS

By Kang Yoon-seungSEOUL, May 18 (Yonhap) -- South Korea's antitrust regulator on Thursday approved UBS Group's takeover of Credit Suisse Group, noting the merger is not likely to limit competition in the local market.The review came as overse
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Farming households' average income down 3.4 pct in 2022: data

SEOUL, May 18 (Yonhap) -- South Korea's farming households saw their average annual income fall 3.4 percent on-year in 2022, data showed Thursday, due to falling market prices and rising operating costs.The average annual income of farming househ