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Samsung BioLogics, CLIO to go public this week
A number of closely watched initial public offerings will take place in South Korea this week, including that of contract drug manufacturer Samsung BioLogics and cosmetics company CLIO. Samsung BioLogics, the biopharma contract manufacturing arm of Korean tech giant Samsung Group, will be listed on Korea’s main bourse Kospi on Thursday, marking the largest IPO […]
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Economic chiefs seek to reassure on Trump
Top South Korean economic policymakers on Thursday strived to calm widespread jitters among key industries, emphasizing that the Korean economy could find new opportunities in US president-elect Donald Trump’s business-friendly policies. “US President-elect Donald Trump’s policy directions towards the expansion of investment in social infrastructure and the revival of manufacturing could become new opportunities for […]
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Softbank invests $1B in S. Korean shopping site
SEOUL, South Korea (AP) — Coupang, a South Korean online shopping site, has secured a $1 billion investment from Japanese Internet company Softbank Corp. Coupang said Wednesday that Softbank founder Masayoshi Son decided to back Coupang because of the South Korean company’s delivery system and its market dominance in online shopping via smartphones. It is […]
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S. Korea, U.S. start joint anti-submarine naval drill
SEOUL, June 1 (Yonhap) — South Korea and the United States have kicked off a joint anti-submarine naval drill to tackle North Korea’s threats, sparked by the North’s test-firing of a submarine-launched ballistic missile, Navy officials said Monday. The two allies began the largest-ever joint anti-submarine exercise Saturday that will run through Wednesday in waters […]
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South Korean car sales grow 1.5 pct in March
Sales by automakers in South Korea grew in March for the first time this year, raising hopes that demand might be picking up both at home and abroad, industry data showed Wednesday. The combined sales of the five local automakers came to 801,997 units last month, up 1.5 percent from the previous year’s 790,283, according […]
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South Korea opens new high-speed rail line
South Korea on Wednesday opened a new high-speed railway linking its capital to major cities in the southwestern part of the country, reducing the travel time by up to one hour, the transportation ministry said. The much-awaited start of KTX service to Gwangju and the southwestern port city of Mokpo was marked in a ceremony […]
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South Korea's industrial output growth hits 4-year high
Industrial output growth in South Korea hit the highest in about 4 years in February, indicating that the economy may resume recovery, a government report showed Tuesday. Production in all industries, including manufacturing, services, construction and public administration, expanded 2.5 percent in February from a month earlier after falling 2 percent in January, according to […]
