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• Gennbio to raise 10 bln won via stock offering

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  SEOUL, March 22 (Yonhap) -- Gennbio Inc.on Wednesday announced that it will sell stock to raise 10 billion won (US$7.6 million). The proceeds from the stock sale will be used mainly to finance its operations.According to a regulatory filing, the comp
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  China, Singapore approve Hanwha's plan to take over Daewoo Shipbuilding

  SEOUL, March 22 (Yonhap) -- Hanwha Group has obtained approval from China and Singapore for its plan to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME), company officials said Wednesday, leaving only South Korea and the European Union p
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  OCI to spin off chemicals business in push for chip, battery components

  SEOUL, March 22 (Yonhap) -- OCI Co., a South Korean chemicals manufacturer, said Wednesday it will spin off its chemicals division under a new holding company, as it seeks to reshape the corporate structure to bolster chip and battery materials as fu
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  SsangYong Motor reborn as KG Mobility after takeover

  SEOUL, March 22 (Yonhap) -- SsangYong Motor Co. on Wednesday changed its name to KG Mobility to transform itself into a future mobility solutions company. SsangYong Motor finalized the name change at a shareholders' meeting Wednesday to focus on
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  Population mobility lowest in 29 years in Feb. amid home market slump

  By Kang Yoon-seungSEOUL, March 22 (Yonhap) -- The number of South Koreans moving to other regions fell to the lowest level in 29 years in February, data showed Wednesday, as higher borrowing costs and economic uncertainties induced more people to avo
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  Childbirths sink 6 pct to fresh low in Jan.

  By Kang Yoon-seungSEOUL, March 22 (Yonhap) -- The number of babies born in South Korea dipped to yet another fresh low in January, data showed Wednesday, reflecting the dire population crisis in Asia's fourth-largest economy. Just 23,179 babies w
• Banks' bad loans up in Q4 on rise in overdue biz loans

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  SEOUL, March 22 (Yonhap) -- South Korean banks' nonperforming loans expanded in the fourth quarter from three months earlier on a rise in overdue corporate loans, data showed Wednesday.Bad loans held by local banks reached 10.1 trillion won (US$7
• Foreign currency deposits shrink sharply in Feb. on declined corporate savings

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  SEOUL, March 22 (Yonhap) -- Foreign currency deposits shrank at the fastest pace in about 11 years in February on decreased corporate savings, central bank data showed Wednesday.Residents' outstanding foreign currency-denominated deposits reached
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  (LEAD) Chips Act incentives limit expansion of semiconductor manufacturing capacity in China by 5 pct

  (ATTN: ADDS Seoul ministry's release in last 3 paras, photo; RECASTS dateline)By Byun Duk-kunSEOUL/WASHINGTON, March 22 (Yonhap) -- The U.S. CHIPS and Science Act will limit to 5 percent the expansion of semiconductor manufacturing capacity in fo
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  GM launches Trax Crossover in S. Korea

  SEOUL, March 22 (Yonhap) -- General Motors Co. (GM) on Wednesday began to sell the Trax Crossover in South Korea following its launch in the U.S. market late last year. GM plans to fully operate its Korean plant in Changwon, about 300 kilometers sout
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  S. Korea, Japan to wrap up removal of export curbs, WTO complaint this week

  SEOUL, March 22 (Yonhap) -- South Korea and Japan are expected to wrap up necessary procedures this week to lift export restrictions and withdraw a complaint with the World Trade Organization on the issue, Seoul's industry chief said Wednesday.La
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  British carmaker INEOS to enter S. Korea with Grenadier SUV

  SEOUL, March 22 (Yonhap) -- British carmaker INEOS Automotive Ltd. said Wednesday it will launch the Grenadier SUV in South Korea later this year after showcasing it to the public at the Seoul Mobility Show set to open late this month. Ahead of the p
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  Lotte to build first Ocado fulfillment center in Busan

  SEOUL, March 22 (Yonhap) -- Lotte Shopping Co. said Wednesday that it will begin construction of a fulfillment center later this year in South Korea's southeastern port city of Busan, using technology from Britain's Ocado Group Plc., as part
• Top headlines in major S. Korean newspapers

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  SEOUL, March 22 (Yonhap) -- The following are the top in major South Korean newspapers on March 22.Korean-language dailies-- Facing criticism of S. Korea-Japan summit outcome, Yoon says there are anti-Japanese forces seeking political gains (Kyunghy
• Chips Act incentives limit expansion of semiconductor manufacturing capacity in China by 5 pct

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  By Byun Duk-kunWASHINGTON, March 21 (Yonhap) -- The U.S. CHIPS and Science Act will limit to 5 percent the expansion of semiconductor manufacturing capacity in foreign countries of concern for companies that receive funds under the new act, the U.S.
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  (LEAD) LVMH CEO Bernard Arnault meets with department store executives over partnerships

  (ATTN: UPDATES info in para 4)SEOUL, March 21 (Yonhap) -- LVMH Chairman and CEO Bernard Arnault has discussed potential partnerships with top executives of South Korean department stores, officials said Tuesday, as the French luxury empire is seeking
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  LVMH CEO Bernard Arnault meets with department store executives over partnerships

  SEOUL, March 21 (Yonhap) -- LVMH Chairman and CEO Bernard Arnault has discussed potential partnerships with top executives of South Korean department stores, officials said Tuesday, as the French luxury empire is seeking to boost its presence in Asia
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  S. Korea, Israel to jointly invest US$10 mln in smart car tech development

  SEOUL, March 21 (Yonhap) -- South Korea and Israel agreed Tuesday to jointly invest US$10 million in the development of key technologies for the smart mobility sector over the next three years, Seoul's industry ministry said.The two nations signe
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  (3rd LD) Exports down 17.4 pct during first 20 days of March

  (ATTN: ADDS trade minister's meeting with exporters in last 4 paras)By Kang Yoon-seungSEOUL, March 21 (Yonhap) -- South Korea's exports fell 17.4 percent on-year in the first 20 days of March, data showed Tuesday, amid the protracted downcycl
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  Kooksoondang 'makgeolli' exports hit record high in 2022

  SEOUL, March 21 (Yonhap) -- Kooksoondang Brewery Co. said Tuesday its annual exports hit a record high last year thanks to the growing global popularity of the Korean traditional liquor "makgeolli."Makgeolli is a traditional Korean rice l