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  (LEAD) SsangYong signs conditional investment deal with KG consortium

  (ATTN: UPDATES with details in 5th para, last para)SEOUL, May 18 (Yonhap) -- SsangYong Motor Co. said Wednesday it has signed a conditional investment deal with a local consortium ahead of the auction later this month to find a new investor for the c
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  SsangYong signs conditional investment deal with KG consortium

  SEOUL, May 18 (Yonhap) -- SsangYong Motor Co. said Wednesday it has signed a conditional investment deal with a local consortium ahead of the auction later this month to find a new investor for the carmaker. The Seoul Bankruptcy Court recently select
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  Hancom to launch S. Korea's 1st commercial Earth observation satellite this month

  SEOUL, May 18 (Yonhap) -- Hancom InSpace Co., a South Korean aerospace tech company, said Wednesday that it plans to launch the country's first commercial Earth observation satellite next week in the United States.A SpaceX Falcon 9 rocket is set
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  KEPCO to sell all overseas coal power plants over record losses

  SEOUL, May 18 (Yonhap) -- South Korea's state power firm Korea Electric Power Corp. (KEPCO) said Wednesday it will sell all overseas coal power plants, including one in the Philippines, as part of efforts to improve its financial status over reco
• Hyundai, Kia's Europe sales rise 13 pct in April on EV demand

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  SEOUL, May 18 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Corp. said Wednesday their sales in Europe rose 13 percent last month from a year earlier, helped by higher demand for their electric vehicles. Hyundai and Kia sold a combined 88,952 v
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  S. Korea to boost monitoring of cooking oil supplies over shortage woes

  SEOUL, May 18 (Yonhap) -- South Korea will beef up monitoring of the cooking oil market and boost its supply chains on concerns over supply crunches and illegal hoarding, the agriculture ministry said Wednesday.Global cooking oil prices have risen re
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  Business leaders of S. Korea, Japan to resume regular meetings after COVID-19-driven hiatus

  SEOUL, May 18 (Yonhap) -- Top business leaders of South Korea and Japan have agreed to resume regular meetings after more than two years of hiatus due to the COVID-19 pandemic, industry sources said Wednesday. The Federation of Korean Industries and
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  (LEAD) KDI cuts 2022 growth outlook to 2.8 pct, ups inflation estimate to 4.2 pct

  (ATTN: ADDS more details in paras 18, 26-27)By Kim Soo-yeonSEOUL, May 18 (Yonhap) -- The Korea Development Institute (KDI) on Wednesday lowered its 2022 growth forecast for the South Korean economy to the 2 percent range, while sharply raising its in
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  Exim Bank raises 1.5 bln euros via bond sale

  SEOUL, May 18 (Yonhap) -- The state-run Export-Import Bank of Korea (Exim Bank) said Wednesday it has raised 1.5 billion euros (US$1.58 billion) by selling global bonds. The state lender has sold two-year floating-rate bonds worth 550 million euros a
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  Hyundai to invest 21 tln won in local EV production, EV technologies

  SEOUL, May 18 (Yonhap) -- South Korea's Hyundai Motor Group said Wednesday it will invest 21 trillion won (US$16.5 billion) to expand its domestic electric vehicle production capacity and develop related technologies by 2030. Hyundai Motor Co. an
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  (LEAD) Regulators call for beefed-up financial market monitoring amid rising uncertainty

  (ATTN: ADDS FSS chief's remarks in paras 5-7)SEOUL, May 18 (Yonhap) -- South Korea needs to keep close tabs on financial market situations with a "sense of crisis" that many potential risks facing the country could turn into reality a
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  Listed firms' Q1 net dips amid rising inflation

  By Chung Joo-wonSEOUL, May 18 (Yonhap) -- South Korean listed firms saw their first-quarter earnings fall from a year ago amid fast-rising inflation despite growths in operating profit and sales, the bourse operator's data showed Wednesday. The c
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  KDI cuts 2022 growth outlook to 2.8 pct, ups inflation estimate to 4.2 pct

  By Kim Soo-yeonSEOUL, May 18 (Yonhap) -- The Korea Development Institute (KDI) on Wednesday lowered its 2022 growth forecast for the South Korean economy to a 2-percent range, while sharply raising its inflation outlook to over 4 percent amid heighte
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  Inflation in all S. Korean provinces, major cities up in Q1

  SEOUL, May 18 (Yonhap) -- Consumer prices rose in all 17 provinces and major cities in the first quarter as high fuel costs and the economic recovery have put upward pressure on inflation, data showed Wednesday.Consumer inflation grew 3.8 percent in
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  KDIC recoups more than 100 pct of bailout funds injected into Woori Financial

  SEOUL, May 18 (Yonhap) -- South Korea's state deposit insurer said Wednesday it had retrieved more than 100 percent of the public funds spent to save Woori Financial Group Inc. in the wake of the 1997 financial crisis, as part of the government&#
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  Bakery chain Paris Baguette opens 3 more stores in Indonesia

  SEOUL, May 18 (Yonhap) -- South Korean food and beverage giant SPC Group said Wednesday its bakery-cafe chain Paris Baguette has opened three more stores in Indonesia in a bid to expand its presence there.The new outlets, which opened in Jakarta and
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  FSC official calls for beefed-up financial market monitoring amid rising uncertainty

  SEOUL, May 18 (Yonhap) -- South Korea needs to keep close tabs on financial market situations with a "sense of crisis" that many potential risks facing the country could turn into reality at any time, a top financial regulator said Wednes
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  Hyundai to launch upgraded Palisade SUV this week

  SEOUL, May 18 (Yonhap) -- South Korean automaker Hyundai Motor Co. said Wednesday it will launch the upgraded Palisade SUV in the domestic market this week amid the prolonged global chip shortage. The face-lifted Palisade comes with a 3.8-liter gasol
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  Samsung Electronics reigns as best-run firm in S. Korea in 2021

  SEOUL, May 18 (Yonhap) -- Global tech behemoth Samsung Electronics Co. was ranked as the best-managed company among South Korea's top 500 businesses in 2021 to retain the top spot for three years running, a corporate tracker said Wednesday.Samsun
• SK inks initial deal with U.S. firm in push to enter small-sized nuclear reactor biz

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  SEOUL, May 17 (Yonhap) -- SK Inc., the holding firm of South Korea's No. 2 conglomerate SK Group, said Tuesday it has signed an initial agreement with a U.S. nuclear power venture founded by Microsoft founder Bill Gates, as it seeks to tap into t