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Foreign banks in S. Korea see net jump over 40 pct in 2022 on derivatives profits

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SEOUL, March 21 (Yonhap) -- Foreign bank branches in South Korea saw their combined net profit jump over 40 percent in 2022 due to a rise in earnings from derivative products amid heightened market volatility, data showed Tuesday.The combined net inc
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S. Korea endorses World Bank president nominee Banga

SEOUL, March 21 (Yonhap) -- South Korea's finance ministry said Tuesday it has decided to endorse the U.S.-picked nominee for the president of the World Bank, expressing hope for closer ties between Asia's No. 4 economy and the Washington-bas
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Hanwha gets Vietnam approval for Daewoo Shipbuilding takeover

SEOUL, March 21 (Yonhap) -- Hanwha Group has received the green light from Vietnam for its planned takeover of Daewoo Shipbuilding & Marine Engineering Co. (DSME), company officials said Tuesday, pending approval from four other foreign authorities,
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POSCO Future M to build new cathode plant in Pohang for Samsung SDI supply

By Kim Seung-yeonSEOUL, March 21 (Yonhap) -- POSCO Future M Co., a leading South Korean battery components maker, said Tuesday it is building a new cathode plant in the country's southeast to meet surging demand after its multibillion-dollar supp
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(2nd LD) Exports down 17.4 pct during first 20 days of March

(ATTN: UPDATES with more details throughout)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 downcycle in the global semiconducto
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(LEAD) Exports down 17.4 pct during first 20 days of March

(ATTN: UPDATES with more details throughout)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 downcycle in the global semiconducto
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POSCO International to expand carbon capture biz in green energy push

By Kim Seung-yeonSEOUL, March 21 (Yonhap) -- POSCO International Corp. said Tuesday it will nurture carbon capture and storage (CCS) as one of its future growth drivers as the trading company accelerates its expansion into green energy.POSCO Internat
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Exports down 17.4 pct during first 20 days of March

SEOUL, 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 downcycle in the global semiconductor industry.The country's outbound shipments stood at US$30
Producer prices up for 2nd straight month in Feb.

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SEOUL, March 21 (Yonhap) -- South Korea's producer prices rose for the second straight month in February as service prices increased, central bank data showed Tuesday.The producer price index, a major barometer of consumer inflation, gained 0.1 p
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Kia unveils all-electric EV5 SUV concept in China

SEOUL, March 20 (Yonhap) -- Kia Corp., South Korea's second-biggest carmaker by sales, on Monday unveiled the all-electric EV5 SUV concept at an electric vehicle (EV) event held in China. Kia introduced the EV5 concept at Kia EV Day planned only
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Trade 'whitelist' return for S. Korea, Japan likely in at least 2 months: trade chief

SEOUL, March 20 (Yonhap) -- It is expected to take at least two months for South Korea and Japan to put each other back onto their respective list of nations given preferential treatment in trade due to necessary procedures, Seoul's trade chief s
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Biz communities hail Yoon-Kishida summit as 'turning point' in bilateral ties

SEOUL, March 20 (Yonhap) -- South Korean business communities Monday hailed last week's summit between President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida as a "turning point" in bilateral relations, expressing hope for
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Hyundai Heavy wins US$207 mln gas ship order in Middle East

SEOUL, March 20 (Yonhap) -- Hyundai Heavy Industries Co., the world's leading shipbuilder by orders, said Monday it has received a US$207 million gas ship order in the Middle East. Hyundai Heavy signed the deal to deliver two very large gas carri
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Auto exports hit record high in Feb. on high demand for eco-friendly cars

SEOUL, March 20 (Yonhap) -- South Korea's car exports jumped nearly 50 percent in February on-year to reach an all-time high on the back of solid demand for eco-friendly cars, data showed Monday.The value of outbound shipments of automobiles came
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S. Korea reports additional African swine fever case in one month

SEOUL, March 20 (Yonhap) -- South Korea reported another African swine fever case after a one-month hiatus on Monday, and issued a standstill order on pig farms and related facilities in the country's northern regions, the agriculture ministry sa
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S. Korean exports to Japan to rise if ties normalize: report

SEOUL, March 19 (Yonhap) -- South Korean exports to Japan will rise 3.5 trillion won (US$2.69 billion) this year if Seoul's export structure to Tokyo returns to the status it had in the 2017-2018 period before a trade dispute flared up in 2019, a
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Whisky sales at E-Mart outlets exceed soju sales in Jan.-Feb. period

SEOUL, March 19 (Yonhap) -- E-Mart Inc. said Sunday that whisky sales at the outlets of South Korea's leading discount store chain exceeded sales of the country's distilled liquor soju in the January-February period. Demand for whisky soared
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Number of working Koreans aged 60 and above more than doubles in 10 years

SEOUL, March 19 (Yonhap) -- The number of working South Koreans aged 60 and above has more than doubled in the past 10 years due to higher living costs amid a global economic slowdown, government data showed Sunday.The number of working Koreans aged
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Shilla, Shinsegae, Hyundai shortlisted for Incheon airport duty-free licensing

SEOUL, March 17 (Yonhap) -- Hotel Shilla, Shinsegae DF and Hyundai Department Store Duty Free were shortlisted for duty-free licensing at Incheon International Airport, the airport operator said Friday.Incheon International Airport Corp. announced th
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OECD slashes S. Korea's 2023 growth outlook to 1.6 pct

By Kang Yoon-seungSEOUL, March 17 (Yonhap) -- The Organization for Economic Cooperation and Development (OECD) on Friday revised down South Korea's growth outlook for 2023 to 1.6 percent, as the global economy continues to stand on "fragile