Most Popular
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[KH Explains] Can smart chargers ease tensions over EV fires?
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1 in 5 households to have breadwinner over 80 in 30 years
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Assembly to review disputed appointment of national soccer team coach
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New Fifty Fifty off to strong start
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Arrival of fall calls for more outdoor festivals
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Evicted guest burns down inn; 3 killed
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[Herald Interview] US election may unleash growth for Korea: Laffer
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Yoon's Prague visit sets stage for W24tr nuclear power plant deal
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Lee’s death will not affect Lotte probe: prosecution
The prosecution said Sunday the death of Lotte Group’s vice chairman would not affect the ongoing investigation on the retail giant. Lee In-won, group Chairman Shin Dong-bin’s longtime and closest aide, was found dead in an apparent suicide Friday morning. He was scheduled to be questioned by prosecutors on the day as part of the ongoing probe into Lotte. The group is suspected of evading taxes amounting to 600 billion won ($533 million) and creating slush funds of some 50 billion won. The death
IndustryAug. 28, 2016
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[Graphic News] Soft alcohol consumption soars
Unlike the declining consumption of hard liquors, fruit-flavored soft alcohol is gaining popularity apparently due to increased social awareness of healthy drinking, a government report showed last week.Social gatherings over drinking beer and soju have long been considered part of Korean culture, but that is gradually fading as a growing number of Koreans tend to prefer soft alcohol in consideration of health, according to the report. This year, Koreans aged 15 or older drank 4.9 glasses of bee
IndustryAug. 28, 2016
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Expectations grow for US rate hike in September
Since the US Federal Reserve signaled last week that it was close to raising its interest rates soon, economic policymakers in Seoul are on edge for the potential impact to Korea’s fragile economy and financial markets. The heightened likelihood of the US tightening as early as next month complicates the job of the Bank of Korea, in particular, which already faces a tough balancing act between the desire to support growth and worries over rising household debt levels.Federal Reserve Chair Janet
Aug. 28, 2016
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Actress Tang Wei gives birth to daughter
Chinese actress Tang Wei gave birth to a healthy and beautiful baby girl, the actress revealed on her Instagram on Saturday. Tang, wife of Korean filmmaker Kim Tae-yong, uploaded a photo of herself with the Chinese caption, “To everyone, today I gave birth to a 3.41kg baby girl. She is very healthy.” According to local media reports, Tang gave birth at a hospital in Hong Kong. Tang and Kim married in 2014 on the remote Swedish island of Faro. The two first met while filming “Late Autumn” in 20
FilmAug. 28, 2016
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‘Tunnel’ tops box office with 6 million viewers
“Tunnel,” depicting a man’s struggle to survive in a collapsed tunnel, has topped the local box office chart for 18 days since its release, attracting more than 6 million cinemagoers, according to the Korea Film Council on Sunday. The film, which was released on Aug. 10, sold 6,026,910 tickets Sunday. It attracted 1 million viewers within the first three days of its release and 3 million within six days. A scene from “Tunnel” (Showbox) The film, directed by Kim Sung-hoon of the 2014 hit “Hard
FilmAug. 28, 2016
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[Herald Review] A celestial night with Mahler
Upon hearing about the choir’s careless preparation for the world premiere of his Eighth Symphony, Austrian composer Gustav Mahler, known for his drive for perfection, threatened to cancel the entire performance. Presenting the same vast work at the Lotte Concert Hall last Thursday, conductor Lim Hun-joung proved himself a worthy heir of Mahler’s demand for excellence. Bringing together eight soloists, the 141-member Korean Symphony Orchestra, and 850 choral members under his baton, Lim in
PerformanceAug. 28, 2016
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Lee’s death will not affect Lotte probe: prosecution
The prosecution said Sunday the death of Lotte Group’s vice chairman would not affect the ongoing investigation on the retail giant. Lee In-won, the group chairman Shin Dong-bin’s long-time and closest aide, was found hanged on Friday morning. He was scheduled to be questioned by prosecutors on the day as part of the ongoing probe into Lotte. The group is suspected of evading taxes amounting to 600 billion won ($530 million) and creating slush funds worth 50 billion won. The Lotte key man’s deat
IndustryAug. 28, 2016
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LG Chem to focus on high value petrochemicals
Chemical and battery firm LG Chem said Sunday that it will focus on high value petrochemicals as part of its moves to boost its competitiveness and sales.With an aim to raise the sales of high value petrochemicals from the current 3 trillion won ($2.7 billion) to 7 trillion won by 2020, the company will expand the polyolefine products with its exclusive technology. This will lead to better quality of polyester and polypropylene, it said. By 2018, the company will inject 400 billion won in to rai
IndustryAug. 28, 2016
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POSCO steps up automotive steel plate business
Korea’s top steelmaker POSCO is putting efforts into enhancing its automotive steel plate business as one of the few global companies that supplies steel sheets for carmakers.Automotive steel plates, a cash cow steel product, are only supplied by some 20 out of about 800 steelmakers in the world. POSCO supplies 10 percent of the world total at 8.7 million tons. POSCO’s self-developed automotive steel plate is displayed at North American International Auto Show in Detroit in January. (POSCO)Earl
IndustryAug. 28, 2016
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Hanjin Shipping may face court receivership
Korea’s top shipper Hanjin Shipping may face court receivership this week while the government and the finance sector are preparing for measures against the possible aftermath.On Thursday, Hanjin Group submitted a rescue plan that planned 400 billion won ($358 million) of funds from Korean Air and 100 billion won from other Hanjin’s affiliates and Hanjin Group Charman Cho Yang-ho’s private account. The creditors, including the main creditor Korea Development Bank, however, expressed disappointme
IndustryAug. 28, 2016
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'Korea low in gender-related indexes’
South Korea recorded low in two significant gender-related indexes, including the latest Gender Gap Report released annually by the World Economic Forum, a local study showed on Sunday.According to the report, compiled by the Korea Institute for Health and Social Affairs, the World Economic Forum placed South Korea at 115 out of 145 countries in its annual index on gender equality last year. The index has a total of four categories, including economic participation and opportunity, education and
Social AffairsAug. 28, 2016
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Minjoo turns to pro-Moon leadership
The main opposition The Minjoo Party of Korea over the weekend welcomed the new leadership mostly comprised of figures supportive of former chairman Moon Jae-in, giving Moon a boost to his presidential bid and foretelling a scale-back to the progressive party’s image reform to the center.Other potential presidential candidates of the party such as Seoul Mayor Park Won-soon, Seongnam Mayor Lee Jae-myeong, South Chungcheong Gov. Ahn Hee-jung, are instead likely to test the waters and seek for alte
PoliticsAug. 28, 2016
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LS C&S Asia aims to double sales by 2021
HANOI, Vietnam -- LS Cable & System aims to double the sales of LS C&S Asia, which is to be listed in September, the company’s chief said last week. LS C&S Asia, the holding firm of the Korean cable-maker’s two Vietnamese units LS-VINA and LSCV, is slated to float its shares on South Korea’s main bourse KOSPI in September.“(Through the listing), LS C&S Asia aims to generate 1 trillion won ($890 million) in sales by 2021,” Myung Roe-hyun, the company’s head, said at a press briefing held in Hanoi
IndustryAug. 28, 2016
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[HERALD INTERVIEW] ICRC urges empathy on plight of the missing
In July 2007 in Afghanistan, 23 South Korean Christian missionaries were captured and held hostage by Taliban terrorists, who demanded a hefty ransom, the withdrawal of Korean troops from Afghanistan and the release of their imprisoned fighters. The whole debacle embroiled Korea in sleepless soul-searching and do-or-die dickering spanning six weeks. The National Security Council at Cheong Wa Dae was summoned, and eventually a reported $20 million was paid to free 21 survivors following the assas
Foreign AffairsAug. 28, 2016
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Korea’s new birth rate policies raise eyebrows
South Korea’s newly introduced measures to boost the country’s “critically low” fertility rate, including a campaign to urge workers to leave work without informing their bosses, are being questioned on their effectiveness.The Welfare Ministry on Thursday announced its short-term emergency measures to combat the demographic crisis, including expanding state allowance for those seeking infertility treatment and raising paternity allowances for parents welcoming their second child.In its effort to
Social AffairsAug. 28, 2016
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[NEWSMAKER] Ahn signals at 2017 presidential bid
The People’s Party’s former chairman Rep. Ahn Cheol-soo on Sunday strongly indicated a second presidential bid, vowing to change politics, the lives of the people and the administration with “reasonable reform.”Speaking at a press conference after hiking up Mudeungsan in Gwangju, Ahn said, “I would like to revisit Mudeungsan next winter when it will be covered by propitious snow. I would like to once again meet the morning of Mudeungsan that spells an end to the outdated era to open a new one.”
PoliticsAug. 28, 2016
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New opposition leader expected to take hard-line approach
Choo Mi-ae won the leadership of the main opposition The Minjoo Party of Korea in a sweeping victory Saturday, and is now expected to take a hard-line, more “left-leaning” approach in the lead-up to next year’s presidential race.In an acceptance speech at the party’s national caucus in Seoul, she implied in her “strong opposition” analogy that she will take a more hawkish approach against President Park Geun-hye and the ruling Saenuri Party.New Minjoo Party chairwoman Rep. Choo Mi-ae responds to
PoliticsAug. 28, 2016
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[Editorial] Seoul-Moscow ties
South Korea and Russia are set to reinforce government- and business-level cooperation on Moscow’s plans to develop the Russian Far East.Russia plans to support Korean firms investing into its projects to build cold storage facilities and modernize harbors in Vladivostok, according to the Ministry of Strategy and Finance.Outlook on the bilateral economic ties is bright, as Finance Minister Yoo Il-ho shared the goals and emphasized the importance of partnership with his counterpart Yuri Trutnev a
EditorialAug. 28, 2016
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[Editorial] Debt and rates
South Korea’s combined household debt was at an all-time high of 1.25 quadrillion won ($1.12 trillion) as of June 2016, and is projected to reached a fresh record during the third quarter of this year.While there is a possibility the nation’s consumer debt will exceed the 1.3 quadrillion mark by the year’s end in the wake of its continuously snowballing pace, policymakers have moved to curb its growth rate.Last Thursday, the Finance Ministry said it would control the number of houses and apartme
EditorialAug. 28, 2016
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[Fawaz A. Gerges] Trump’s pro-Islamic State foreign policy
Donald Trump’s recent claim that his opponent in the US presidential race, former Secretary of State Hillary Clinton, and President Barack Obama founded the Islamic State extremist group is vicious nonsense. But it is also an ironic charge for Trump to make: If anyone in the United States is helping the IS group, it is he.In a recent speech on foreign policy, the Republican Party’s presidential nominee laid out a supposed plan for defeating IS that, in classic Trump fashion, overflowed with cont
ViewpointsAug. 28, 2016