Most Popular
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Over 80,000 millionaires, 20 billionaires in Seoul: report
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Korean battery makers heave sigh of relief over 2-year IRA reprieve
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Young Korean doctors seek plan B: cosmetic dermatology or overseas
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Yoon apologizes over first lady’s Dior bag scandal, but accuses special probe attempt as political maneuvering
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South Korea open to Indonesian proposal to cut KF-21 payments
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Police seek arrest warrant for med student who killed girlfriend
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Coupang earnings hit hard by losses from ailing Farfetch
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[K-pop’s dilemma] Time, profit pressures work against originality
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Girl hanging on bridge, police trying to rescue her both fall off; rescued immediately
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[K-pop's dilemma] Is Hybe-Ador conflict a case of growing pains?
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[Editorial] Unconvincing strike
Two of the three unions of Seoul Metro, which operates the subway service in Seoul, announced a plan to strike during a press conference Wednesday. After labor dispute mediation by Seoul National Labor Relations Commission ended without results on Tuesday, two Seoul Metro unions -- one affiliated with the Korean Confederation of Trade Unions and the other with the Federation of Korean Trade Unions -- jointly declared that they have decided to go on a strike on Nov. 9 for all eight Seoul subway l
Oct. 20, 2023
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[Editorial] Prevent illegal short selling
Two global investment banks based in Hong Kong face the biggest-ever fines and possibly criminal charges in South Korea for their alleged illegal short selling activities, which sparked calls from retail investors for tougher rules and heavier penalties against such practices. The Financial Supervisory Service said it was seeking to impose its largest-ever fine on the two IBs for what is called “naked short selling,” FSS Gov. Lee Bok-hyun said in a parliamentary inspection that crimi
Oct. 19, 2023
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[Editorial] Grave security threat
As the circumstances in which North Korea provided weapons to Russia have come to light, the possibility of Russia providing North Korea with cutting-edge defense materials or military technologies in return is looming. If Russia transfers technologies necessary to perfect North Korea's ballistic missiles, it will seriously violate United Nations sanctions against the North and greatly undermine stability on the Korean Peninsula. White House national security spokesperson John Kirby said on
Oct. 18, 2023
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[Editorial] Quota for medical schools
The South Korean government is set to unveil a plan to increase the annual enrollment quota for medical schools in a bid to tackle the shortage of doctors in key fields and the increasing demand for medical services in connection with the rapid aging of Korean society. Senior officials from the ruling People Power Party, the government and the presidential office held a meeting Sunday to explore options over the increase of the number of medical students. President Yoon Suk Yeol is scheduled to
Oct. 17, 2023
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[Editorial] Review quiet diplomacy
China is said to have forcibly repatriated hundreds of North Korean defectors locked up in its detention facilities. The Ministry of Unification said such claims by civil organizations working to improve North Korean human rights seem to be true and that South Korea expressed regret to China over the issue. Beijing, however, is silent. According to the organizations, Chinese public security authorities forcibly sent back about 600 North Korean defectors imprisoned near the border with North Kore
Oct. 16, 2023
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[Editorial] Support chip sector
South Korean chipmakers have secured an indefinite waiver for US chip equipment exports to China. The eased US controls are clearly a positive turn of events. But the Korean government, keen to shore up its vital chip sector, is in no position to feel relieved. On Monday, the presidential office said Samsung Electronics and SK hynix will be allowed to keep providing US chip equipment to their Chinese factories indefinitely without a separate approval process. The US government designated Samsung
Oct. 13, 2023
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[Editorial] NEC's lax attitude
The overall election management system of the National Election Commission has been found to be effectively defenseless to hacking attacks. A joint security check by the National Intelligence Service and Korea Internet & Security Agency detected a number of vulnerabilities in the voting and ballot counting systems and the internal operational system of the commission. The intelligence agency discovered there had been eight hacking attacks on the commission in the past two years, including se
Oct. 12, 2023
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[Editorial] Israel-Hamas war
Saturday's surprise attack by Hamas on Israel has escalated into a deadly war in the conflict-laden Middle East, which not only puts the region’s geopolitical order in turmoil but also adds to the deep uncertainty of global politics and the economy at large. In response to Hamas’ incursion of unprecedented scale and preparation, Benjamin Netanyahu, Israel’s prime minister, said in a statement: “We are at war.” More than 900 people were killed in Israel, while H
Oct. 11, 2023
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[Editorial] Speed up trials
Democratic Party of Korea leader Lee Jae-myung is to stand trial in several cases, but delays have been severe. He can try delay tactics as a defendant, but the judiciary must not play into his hands. His trials must be conducted all the quicker, considering his status as party leader. Before the legislative general election just six months away, voters need to know the courts’ judgments on grave allegations involving a party leader. Lee attended his first court hearing Friday, seven month
Oct. 10, 2023
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[Editorial] Sticky inflation
South Korea’s consumer prices, a key gauge of inflation, rose 3.7 percent in September from a year earlier, marking the highest on-year increase in five months, amid worrisome signs of additional volatility in prices. Some experts raise the possibility that the Korean economy might fall into a trap of “sticky inflation,” referring to a situation where prices do not adjust quickly or smoothly in response to changes in supply and demand, leading to persistent inflation. It is too
Oct. 9, 2023
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[Editorial] Uproot opinion-rigging
The anomalies which happened on the Korean web portal Daum during the Asian Games show that overseas manipulation of public opinions on domestic portal sites has become a reality. During the Asian Games men's football quarterfinal match between South Korea and China on Sunday, the ratio of clicks cheering for China on Daum reached 91 percent at one point, compared with a mere 9 percent for South Korea. On Naver, another Korean web portal, the number of clicks cheering for South Korea took
Oct. 6, 2023
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[Editorial] No time to delay reform
The Yoon Suk Yeol administration is scheduled to unveil a blueprint for public pension reform this month, but there is only a slim chance that any meaningful progress will be made any time soon. One of the reasons for such a pessimistic view is that the lawmakers from both parties agreed to effectively put aside the pension reform issue until after next year's general election. The ruling People Power Party and the main opposition Democratic Party of Korea on Monday agreed to extend the ope
Oct. 5, 2023
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[Editorial] Time for self-restraint
The main opposition Democratic Party of Korea is escalating its offense against the Yoon Suk Yeol administration after the court rejected an arrest warrant request for its leader, Lee Jae-myung. The party demanded an apology from Yoon and the dismissal of Justice Minister Han Dong-hoon. Boosted by the denial of his arrest warrant, Lee proposed out of the blue that Yoon hold one-on-one talks with him to discuss the livelihoods of the public. Lee likely knew well that the president would almost ce
Oct. 4, 2023
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[Editorial] Right choice eventually prevails
The Constitutional Court ruled a ban on sending propaganda leaflets to North Korea is unconstitutional. It comes as another belated -- but correct -- decision after the Supreme Court ruled in April that anti-North Korea leaflets played a positive role in providing information to North Koreans about their reality. At the time the ban was introduced, the Moon Jae-in administration and the ruling Democratic Party of Korea faced severe criticism for legislating the ban as North Korea demanded, but t
Sept. 28, 2023
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[Editorial] Slow growth trap
South Korea’s growth rate is feared to dip below the Organization for Economic Cooperation and Development average for the third consecutive year this year, unless sagging exports rebound at a brisk pace. The OECD maintained Korea’s 2023 growth outlook and inflation forecast at 1.5 percent and 3.4 percent, respectively, in its interim report titled, “Confronting Inflation and Low Growth.” The interim outlook suggests there has been no meaningful change in the country&rsqu
Sept. 27, 2023
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[Editorial] Right to live in quiet
The court last week allowed the Korean Metal Workers' Union, a member of the Korean Confederation of Trade Unions, to hold an overnight rally on the street in front of the National Assembly. It was the first time the court had allowed an overnight open-air demonstration. The court accepted the application by the metal workers' union to invalidate a police ban on its overnight outdoor protest. The union had reported to the police that it would hold a rally from 9 a.m. on Sept. 20 to noo
Sept. 26, 2023
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[Editorial] Roadblocks ahead
The South Korean economy is set to grapple with three volatile conditions -- the so-called “three highs” -- in the coming months: higher interest rates, high energy prices and the higher value of the US dollar against the Korean currency. First and foremost, the US interest rate change is drawing keen attention from Korean policymakers and investors as its impact is potentially critical. The US Federal Reserve on Wednesday left interest rates unchanged, but signaled it may opt for on
Sept. 25, 2023
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[Editorial] Kepco’s woes
President Yoon Suk Yeol signed off on the appointments of Kim Dong-cheol as the new CEO of Korea Electric Power Corp., also known as Kepco, and Bang Moon-kyu as trade minister this week, the very two figures in charge of the highly explosive issue of electricity rate hikes. The idea of raising electricity rates is a sensitive topic for the government as many households find the sharp increase in August's electricity bills hard to swallow. This year’s lengthy heat waves forced many hou
Sept. 22, 2023
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[Editorial] Lee's arrest warrant
The National Assembly is set to vote on a government request for opposition leader Lee Jae-myung to attend a pretrial detention hearing. He has promised many times to give up his privilege as a lawmaker of being able to avoid detention depending on the result of a National Assembly vote and voluntarily attend a detention hearing like ordinary people do if the prosecution sought an arrest warrant for him, but his promises were just empty words. An incumbent National Assembly member can stand tria
Sept. 21, 2023
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[Editorial] A worrisome gap
South Korea’s tax revenue shortfall for 2023 is now estimated to stand at 59.1 trillion won ($44.6 billion), according to newly revised government data, the biggest in years. The Ministry of Finance and Economy announced Monday it has revised down its annual tax revenue projection to 341.4 trillion won, citing sluggish corporate earnings and a protracted slump in the property market. The ministry’s earlier tax revenue outlook for this year was 400.5 trillion won. The new revision ref
Sept. 20, 2023