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S. Korea, China discuss stronger supply chain ties during ministerial talks
South Korea and China discussed ways Thursday of strengthening bilateral cooperation on supply chains of critical minerals and key industry items, Seoul's finance ministry said. The discussions were made during the 18th Korea-China Meeting on Economic Cooperation held virtually between South Korea's Finance Minister Choi Sang-mok and Zheng Shanjie, chairman of China's National Development and Reform Commission (NDRC), according to the Ministry of Economy and Finance. It was the fi
Diplomatic Circuit May 16, 2024
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Artwork symbolizing S. Korean abductees in N. Korea on display at garden show
The unification ministry on Thursday unveiled an artwork inspired by three forget-me-nots at a garden show in an effort to raise public awareness of South Koreans detained in North Korea. Earlier this year, the government created an image of three blue forget-me-nots as a symbol of South Korean abductees, detainees and prisoners of the 1950-53 Korean War in hope of their safe repatriation from the repressive regime. The artwork by artist Nanan Kang, comprising a glass greenhouse filled with the
North Korea May 16, 2024
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Seoul shares up for 2nd day on revived rate-cut hopes; won soars to near 2-month high
South Korean stocks finished nearly 1 percent up Thursday as hopes for a possible US rate cut boosted investor sentiment here. The local currency sharply rose to an almost two-month high against the US dollar. The benchmark Korea Composite Stock Price Index added 22.66 points, or 0.83 percent, to 2,753, after reaching an intraday high of 2,773.46 points. Trade volume was moderate at 510.3 million shares worth 13 trillion won ($9.66 billion), with gainers outpacing decliners 531 to 345. Foreign i
Market May 16, 2024
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First lady to attend luncheon with Cambodian PM in return to public duties
First lady Kim Keon Hee will attend an official luncheon with the visiting Cambodian prime minister Thursday, the presidential office said, marking her return to public duties after she withdrew in December amid corruption allegations. The first lady will join President Yoon Suk Yeol, Cambodian Prime Minister Hun Manet and his wife during the luncheon, which will be held at the presidential office following a summit between the leaders. The last time Kim appeared in public was in December when s
Social Affairs May 16, 2024
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Critical court decision looms over fate of govt.'s plan to hike medical school quota
An appellate court in Seoul was to deliver a critical ruling Thursday that would determine the fate of the government's highly contested plan to increase the nationwide medical school admission quota, officials said. The Seoul High Court will issue a ruling at around 5 p.m. on an injunction filed by the medical community seeking to halt the government's plan to increase the medical school quota by 2,000, court officials said. A court rejection of the request would pave the way for the
Social Affairs May 16, 2024
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Seoul shares start sharply higher on hopes for US rate cut
South Korean stocks got off to a strong start Thursday on hopes for the US Federal Reserve's possible rate cut after slower-than-expected inflation in the world's largest economy. The benchmark Korea Composite Stock Price Index gained 35.69 points, or 1.31 percent, to 2,766.03 in the first 15 minutes of trading. Overnight, the US stock market closed at record highs, with the Dow Jones Industrial Average rising 0.88 percent and the tech-heavy Nasdaq composite jumping 1.4 percent. The la
Market May 16, 2024
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S. Korea, US to hold 2nd round of defense cost sharing talks next week
South Korea and the United States will hold their second round of negotiations in Seoul next week on the sharing of the costs for the upkeep of American soldiers stationed here, Seoul officials said Thursday. The talks, set for Tuesday through Thursday, come about a month after the allies launched the negotiations on determining how much Seoul should shoulder for the stationing of the 28,500-strong US Forces Korea. The first round of the SMA talks took place in Hawaii. The current six-year deal,
Defense May 16, 2024
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Rare mid-May heavy snow warning issued over mountainous areas of Gangwon
A rare mid-May warning of heavy snow was issued Wednesday over mountainous areas in northern Gangwon Province. The warning went into effect at 7:20 p.m. as snow, which had started shortly beforehand, was forecast to continue into Thursday morning, accumulating up to 7 centimeters in highland and other mountain areas of northern Gangwon. A heavy snow warning is issued when snowfall accumulation is expected to reach five centimeters or more within a 24-hour period. It marks the first mid-May heavy
Social Affairs May 15, 2024
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Yoon meets minor party leader Cho in public for first time in 5 yrs
President Yoon Suk Yeol exchanged Wednesday somewhat awkward greetings with Cho Kuk, leader of a minor opposition party, in their first public encounter in years after the two became at odds with each other over the investigation into Cho's family. The brief meeting took place when Yoon was leaving an event held in celebration of Buddha's birthday in central Seoul, where many other key political figures were also present. Yoon greeted Cho, the leader of the Rebuilding Korea Party, by s
Politics May 15, 2024
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Yoon vows to run country 'rightly' on Buddha's birthday
President Yoon Suk Yeol promised Wednesday to run state affairs "rightly" in a way that will help improve the people's livelihoods and make the country overcome challenges. Yoon made the remarks in a congratulatory speech in observance of Buddha's birthday, a public holiday in South Korea, saying he will do all he can do to make a "warm and happy" society. "I will do my best to carry out the state affairs rightly as I always keep the Buddha's teachings in
Politics May 15, 2024
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Head of Line operator said to stress job security at meeting with Korean employees
The Japanese head of the operator of the popular Line messenger app attended a meeting with Naver Corp.'s employees and was said to pledge job security, an industry source said Wednesday, as the South Korean internet giant is under pressure from Tokyo to sell stake in Line. Takeshi Idezawa, president of LY Corp., the operator of Line controlled by a joint venture between Naver and SoftBank of Japan, attended the meeting with employees of Line Plus Corp. on Tuesday, according to the source.
Technology May 15, 2024
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N. Korea's Kim, daughter attend ceremony for new street in Pyongyang
North Korean leader Kim Jong-un and his "beloved daughter" Ju-ae attended a ceremony marking a newly built street at the north gateway of Pyongyang, the North's state media reported Wednesday. It was the first time in about two months that Ju-ae made a public appearance since she visited a military unit on March 15. Kim and his daughter attended the ceremony on Tuesday, according to the North's Korean Central News Agency. The KCNA described the street as "clear proof of
North Korea May 15, 2024
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Govt. to regulate synthetic nicotine as tobacco through legislation
The government plans to amend tobacco-related laws to designate synthetic nicotine as a type of tobacco in order to regulate the product category seeing growing popularity among young smokers, according to officials Wednesday. The Ministry of Health and Welfare and the Ministry of Economy and Finance plan to push for a revision of the law to include synthetic nicotine in the definition of tobacco under the Tobacco Business Act, according to officials. In South Korea, tobacco-related laws are man
Social Affairs May 15, 2024
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'The Roundup: Punishment' sets another record with 10m admissions
The crime-action film "The Roundup: Punishment" set another record by attracting more than 10 million viewers on Wednesday, after 22 days of screening, data showed. According to the data from the movie's distributor, ABO Entertainment, the fourth installment of the "The Roundup" crime-action film franchise topped more than 10 million. With Wednesday's record, three installments in the "The Roundup" series attracted more than 10 million viewers each. "
Film May 15, 2024
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S. Korea-US alliance will 'incessantly' strengthen regardless of who wins US election: Seoul envoy
South Korea's top envoy to the United States expressed confidence Tuesday that the alliance between Seoul and Washington will strengthen "incessantly" through the allies' "institutionalized" cooperation irrespective of who wins the White House in November. Ambassador Cho Hyun-dong made the remarks as US President Joe Biden is set to face former President Donald Trump in the Nov. 5 election amid speculation that Trump's return to the top office could potentially bring a foreig
Foreign Affairs May 15, 2024
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