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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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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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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Yoon's Prague visit sets stage for W24tr nuclear power plant deal
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Foreign securities firms cut S. Korean operations
[THE INVESTOR] Foreign securities companies are reducing their South Korean operations as potential profitability falls. According to local financial industry sources, the number of executives at foreign securities firms’ local operations fell from 42 in 2011 to 22 by March this year. The number of employees also fell from 904 to 735 over the same period. The workforce cut, which had been focused on nonessential departments, has now spread to sales and others linked directly to business operatio
July 25, 2016
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Former sex slaves protest against foundation to be launched this week
South Korean women who were sexually abused by Japanese soldiers during the country's colonial occupation period (1910-45) denounced the government for "unilaterally" pushing forward with a foundation dedicated to the victims.In December, South Korea and Japan reached a landmark deal in which Tokyo apologized for its colonial-era atrocities and agreed to provide 1 billion yen ($9.4 million) for the creation of a foundation aimed at supporting the victims, euphemistically called comfort women.The
Social AffairsJuly 25, 2016
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VANK to nurture overseas Korean youths as promotional envoys
A civic organization promoting South Korea mainly via the Internet said Monday that it plans to recruit hundreds of overseas Korean youths as "global Korean promotional envoys" when they come to their fatherland at the government's invitation later this week, the organ's official said Monday. "We (the Voluntary Agency Network of Korea, or VANK) plan to hold a ceremony to inaugurate global overseas Korean promotional ambassadors at the Overseas Koreans Foundation in Seoul next Tuesday," VANK chie
Foreign AffairsJuly 25, 2016
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Korea’s R&D investment in 2015 at W19tr
[THE INVESTOR] The Korean government invested 18.87 trillion won (US$16.6 billion) for research and development in 2015, according to the Ministry of Science, ICT and Future Planning. An analysis report released on July 25 showed that 54,433 projects were financed for 639 national R&D programs, a 7 percent increase from 2014. The Science Ministry provided the largest fund of 6.5 trillion won followed by the Ministry of Trade, Industry and Energy (3.4 trillion won), Defense Acquisition Program A
IndustryJuly 25, 2016
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Foreigners net-buy 3 tln won of Korean stocks in July
Foreign traders have favored South Korean tech shares recently, while turning their backs on the automobile sector, data showed Monday.Foreigners scooped up a net 2.96 trillion won ($2.6 billion) worth of local stocks in the first three weeks of July alone, buttressing the benchmark Korea Composite Stock Price Index, according to the Korea Exchange.Ditching the traditional pattern of a "balanced" portfolio, they focused buying on tech, steel and materials shares.They net-purchased 631.6 billion
July 25, 2016
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Opposition party aims to ban private lenders' TV ad
A lawmaker of South Korea's main opposition Minjoo Party of Korea proposed a bill on Monday to ban private lenders from making advertisements on TVs amid the country's mounting household debts.Under the bill proposed by Rep. Je Youn-kyung, private lenders will be banned from making TV advertisements. Currently, the ban is only applied at certain times of the day to prevent teenagers and children from watching them."Although the number of advertisements rolled out by the top 10 private lenders fe
PoliticsJuly 25, 2016
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LVMH invests $50m in Korean cosmetics maker CLIO
South Korean cosmetics maker CLIO has secured $50 million in investment from the world’s largest luxury brand group LVMH Moet Hennessy Louis Vuitton, boosting plans to expand overseas.LVMH-owned private equity fund L Capital Asia and CLIO signed an agreement on the investment and its terms during a ceremony in Singapore on July 22, the Korean cosmetics firm said Monday.Under the agreement, CLIO will complete its initial public offering by the end of this year and issue redeemable convertible pre
IndustryJuly 25, 2016
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74-year-old man convicted for sexual assault of granddaughter
A 74-year-old man was sentenced to 10 years in prison for sexually assaulting his step-granddaughter multiple times, Suwon District Court said Monday. According to the court, the convict Park had inappropriately touched the victim four times and raped her two times between July 2004 and 2008. This is a stock image. (123RF)The victim was 10 years old at the time of the first assault. Park reportedly told the victim he was giving her sexual education. The victim and her younger sibling came to li
Social AffairsJuly 25, 2016
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Man testifies to murdering girlfriend, refrigerating her body
A 49-year-old man, named Lee, has been taken into custody after he testified to strangling his girlfriend and stowing her body in his refrigerator, Uijeongbu District Court said.Lee said the victim, 33, “compared him with other men and sexually insulted him,” which led to a fight that escalated to murder.Police found the victim’s body on July 22 around 3 p.m. in the suspect’s refrigerator as they launched an investigation into her disappearance after her family reported that she was missing.The
Social AffairsJuly 25, 2016