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FTC fines top music copyright group for unfair practices

SEOUL, July 26 (Yonhap) -- South Korea's antitrust regulator on Wednesday slapped a fine of 340 million won (US$266,000) on a major music copyright association for abusing its market dominance by overcharging broadcasters and hindering the compet
Seoul shares down late Wed. morning on heavy foreign sell-offs

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SEOUL, July 26 (Yonhap) -- South Korean stocks traded lower late Wednesday morning on heavy foreign selling ahead of the interest rate decision in the United States.The benchmark Korea Composite Stock Price Index (KOSPI) had fallen 17.66 points, or 0
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(LEAD) Retail sales up 5.7 pct in H1 on lifting of anti-COVID-19 curbs

(ATTN: ADDS June data in last 2 paras)SEOUL, July 26 (Yonhap) -- Retail sales in South Korea rose 5.7 percent on-year in the first half of this year amid eased antivirus curbs and people's growing outdoor activities, the industry ministry said We
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Retail sales up 5.7 pct in H1 on lifting of anti-COVID-19 curbs

SEOUL, July 26 (Yonhap) -- Retail sales in South Korea rose 5.7 percent on-year in the first half of this year amid eased antivirus curbs and people's growing outdoor activities, the industry ministry said Wednesday.The combined sales of 25 major
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(2nd LD) SK hynix flags losses for 3rd consecutive quarter, sees market bottoming out

(ATTN: CHANGES headline, lead; ADDS details from earnings call in paras 4-6, photo)SEOUL, July 26 (Yonhap) -- SK hynix Inc. said Wednesday it logged losses for three quarters in a row as a demand slump continued amid macroeconomic woes, but it called
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Hyundai launches upgraded Avante N performance model

SEOUL, July 26 (Yonhap) -- Hyundai Motor Co. on Wednesday launched the upgraded Avante N high-performance model in the domestic market as it strives to strengthen its high-end product lineup.The face-lifted sporty sedan comes with an eight-speed wet
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S. Korea confirms avian influenza cases in cats for first time in 7 years

SEOUL, July 26 (Yonhap) -- Two cats at an animal shelter in Seoul were confirmed to have been infected with a highly pathogenic avian influenza strain, marking the first infections of the virus in mammals in seven years, the agriculture ministry has
Hyundai-Rotem Q2 net profit up 105.2 pct to 52.6 bln won

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SEOUL, July 26 (Yonhap) -- Hyundai-Rotem Co. on Wednesday reported its second-quarter net profit of 52.6 billion won (US$41.1 million), up 105.2 percent from a year earlier.Operating profit for the April-June period was 67.2 billion won, up 113.9 per
Hyundai Development Q2 net profit down 75.4 pct to 16.6 bln won

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SEOUL, July 26 (Yonhap) -- Hyundai Development Co. on Wednesday reported its second-quarter net profit of 16.6 billion won (US$13 million), down 75.4 percent from a year earlier.The company said in a regulatory filing that it posted 5.7 billion won i
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(LEAD) SK hynix flags losses for 3rd consecutive quarter as demand continues to slump

(ATTN: RECASTS throughout with details; CHANGES headline; ADDS photo)SEOUL, July 26 (Yonhap) -- SK hynix Inc. said Wednesday it logged losses for three quarters in a row, as macroeconomic woes continued to dent demand for semiconductors used in PCs a
SK hynix swings to red in Q2

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SEOUL, July 26 (Yonhap) -- SK hynix Inc. on Wednesday reported its second-quarter net loss of 2.98 trillion won (US$2.3 billion), turning from a profit of 2.88 trillion won a year earlier.The company said in a regulatory filing that it posted an oper
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Inflation expectations at 14-month low in July

SEOUL, July 26 (Yonhap) -- South Korea's inflation expectations fell to the lowest in over one year in July in line with a downward trend in consumer prices, a central bank survey showed Wednesday.Ordinary people expected consumer prices in July
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IMF cuts S. Korean economy's growth outlook to 1.4 pct

By Kang Yoon-seungSEOUL, July 25 (Yonhap) -- The International Monetary Fund (IMF) on Tuesday slashed its 2023 economic growth outlook for South Korea to 1.4 percent amid "persistent challenges" in the global economy.It marked a 0.1 perce
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Korean Air to appeal against Russian court's penalty decision

SEOUL, July 25 (Yonhap) -- Korean Air Co. said Tuesday it will file an appeal against a Russian court's penalty decision over the "omission" of the South Korean carrier's departure process at a Moscow airport in early 2021. The Ru
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Kia unveils design of upgraded Sorento SUV ahead of launch next month

SEOUL, July 25 (Yonhap) -- Kia Corp., South Korea's second-biggest carmaker by sales, on Tuesday unveiled the design of the upgraded Sorento SUV ahead of its domestic launch next month.Kia plans to place the facelifted Sorento SUV with a gasoline
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(LEAD) Record amount of drugs seized in S. Korea in H1: customs agency

(ATTN: ADDS more details in last 3 paras; CHANGES photo)SEOUL, July 25 (Yonhap) -- South Korea's customs agency said Tuesday it has captured a record amount of drugs in the first half of this year, enough to be used by more than 5 million people.
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(LEAD) KB Financial Group Q2 net profit up over 20 pct on-year

(ATTN: RECASTS headline, lead; UPDATES throughout with details; ADDS photo)SEOUL, July 25 (Yonhap) -- KB Financial Group Inc. on Tuesday reported its net profit jumped more than 20 percent in the second quarter from a year earlier on higher interest
Industrial Bank of Korea Q2 net income up 27.5 pct to 667.1 bln won

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SEOUL, July 25 (Yonhap) -- Industrial Bank of Korea on Tuesday reported its second-quarter net income of 667.1 billion won (US$522.8 million), up 27.5 percent from a year earlier.The company said in a regulatory filing that operating profit for the A
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Record amount of drugs seized in S. Korea in H1: customs agency

SEOUL, July 25 (Yonhap) -- South Korea's customs agency said Tuesday it has captured a record amount of drugs in the first half of this year, enough to be used by more than 5 million people.The amount of illegal drugs seized at borders jumped 39
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(LEAD) S. Korea, Australia to boost ties on key minerals, energy

(ATTN: CHANGES photo)SEOUL, July 25 (Yonhap) -- South Korea and Australia agreed Tuesday to enhance cooperation on supply chains of major industry minerals and clean energy fields, Seoul's industry ministry said.The consensus was reached during a