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 Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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[Herald Interview] US election may unleash growth for Korea: Laffer
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Constitutional Court upholds smoking ban on restaurants
The Constitutional Court on Thursday ruled it is constitutional to ban smoking in all restaurants, a measure that has been in place since January last year.The latest ruling is the fourth constitutional decision made regarding smoking bans, with all four upholding the policy.The unanimous decision was made on a suit raised by a restaurant owner claiming the National Health Promotion Act violated his constitutional rights.The act through its Article 9, Clause 4 stipulates that restaurants of a ce
Social AffairsJuly 21, 2016
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Air traffic hits record high in 2016
Air traffic in Korean airspace hit a record high in the first half of 2016 with nearly 2,000 planes flying every day, according to the Transport Ministry on Thursday.Data from the Ministry of Land, Infrastructure and Transport showed that compared to last year, international air traffic crossing through Korean airspace rose by nearly 10 percent. Much of that increase was due to a 36 percent rise in Chinese airlines flying through Korea. About 11,500 Chinese flights were monitored by air traffic
IndustryJuly 21, 2016
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LG Chem to acquire adhesive business from LG Hausys
[THE INVESTOR] LG Chem, the chemicals and battery-making unit of LG Group, said on July 21 it has decided to acquire the adhesive film business from LG Hausys, a sister firm specialized in construction materials. The purchase price is 80.5 billion won (US$70.70 million) and the final deal will be signed on Aug. 31. LG Chem currently produces some adhesive products that are used to stick polarizers to display panels. With the latest deal, the company said it aims to diversify its business areas i
TechnologyJuly 21, 2016
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LG Electronics completes relocation of European HQ to Eschborn in Germany
[THE INVESTOR] South Korean tech giant LG Electronics has recently completed the relocation of its European headquarters from London to Germany’s Eschborn, an official from the tech firm said on Thursday. “LG has already completed the relocation process of the European head office to Germany,” Cho Joong-kwon, an LG Electronics spokesperson, said. LG Electronics’ head office in Seoul. (Yonhap)The relocation marked the second of its kind in less than a year since the firm announced its plan to mo
TechnologyJuly 21, 2016
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POSCO sees 2.8% rise in Q2 operating profit
The nation’s top steelmaker POSCO recorded 12.8 trillion won ($11.2 billion) in total sales and 670 billion won in operating profit in the second quarter of this year, the company said Thursday. This is respectively a 3.2 percent rise and a 2.8 percent increase compared to the previous quarter. The improved performance of the steel, information and communication technology, and material businesses contributed to the rise, despite the slight decrease in sales and operating profits of POSCO E&C an
IndustryJuly 21, 2016
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[FACT CHECK] THAAD, capacity and limitations
Since the announcement of the deployment of the Terminal High Altitude Area Defense system here, the talk of town has been its possible hazardous effects on the health of those living near the deployment site. The efficacy and capacity of the advanced missile defense system have also been topics of debate, with pundits, military officials and the public discussing what THAAD can and cannot do.THAAD is designed to target ballistic missiles at higher altitudes in their terminal stages, most likely
DefenseJuly 21, 2016
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Minister predicts export turnaround in H2
JEJU -- Korea’s exports may swing to the positive territory in August at the earliest, Trade Minister Joo Hyung-hwan said Thursday. Speaking at a forum in the southern island of Jeju, the minister said that exports are on track to return to year-on-year expansion, ending a long streak of contraction. “The year-on-year growth of exports dipped to a negative 20 percent in January, but improved to a negative 2.7 percent in June,” the minister said. Reasons behind the decline are both structural and
July 21, 2016
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Saenuri leadership candidates lambaste alleged nomination meddling
Candidates running for the chairmanship of the ruling Saenuri Party on Thursday slammed the alleged nomination meddling by members with close association to President Park Geun-hye.Recent news reports based on taped phone conversations have claimed that Reps. Choi Kyung-hwan and Yoon Sang-hyun pressured another party member against running in a constituency contested by key pro-Park member Rep. Suh Chung-won during the April 13 general election. Follow-up reports have also suggested former senio
PoliticsJuly 21, 2016
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President undeterred by THAAD opposition
President Park Geun-hye on Thursday reiterated the necessity of deploying a disputed antimissile system here, calling on her team to “stay firm” against backlash. “The government decided to deploy THAAD (Terminal High Altitude Area Defense), seeing it as the optimal method to protect our country and people from North Korea’s threats,” the president said at the opening session of the National Security Council meeting attended by key ministers, the intelligence chief, the chairman of the Joint Chi
PoliticsJuly 21, 2016
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[Contribution] Improvement in practices of insurance products
With the aim of tackling practices that inconvenience people in financial transactions, the Financial Supervisory Service has since May last year consistently promoted the 232 reform tasks it pledged in its first financial reform package. While financial reforms were implemented sporadically, the FSS and the financial industry are working together to carry out financial reforms intensively and systematically. This concerted effort has been highly credited for raising the level of consumer protec
July 21, 2016
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KCCI chief warns of ‘waterfall’ of antibusiness legislation
JEJU -- Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry, voiced concern over a rush of business regulations proposed by parliamentarians in the past several weeks. “This could lead to a situation like a waterfall of regulations cascading on businesses,” he told reporters Wednesday on the southern resort island of Jeju. He was there to attend the KCCI’s annual forum for local business leaders. Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry. (KCCI)Si
July 21, 2016
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[DECODED] Samsung bets future on biopharmaceuticals
South Korean electronics giant Samsung Group is looking to make its mark in a new, promising field — biopharmaceuticals. At the heart of the push are the tech conglomerate's two young units — Samsung BioLogics and Samsung Bioepis.The former, founded in 2011, is a contract manufacturer of biologic drugs developed by pharmaceutical companies around the world while the latter, established in 2012, focuses on developing biosimilars — near-replicas of complex biologic drugs that have lost patent prot
TechnologyJuly 21, 2016
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KB Financial's net up 20.1% in first half
KB Financial Group Inc., Korea's biggest retail bank, said Thursday it posted a 20.1 percent on-year jump in net profit in the first half on decreased burden in labor costs and loan-loss provisions.Net profit for the six months ended June 30 climbed to 1.125 trillion won ($990 million), up 188.7 billion won from a year earlier, KB Financial said in a regulatory filing.The first-half net result beat market expectations.KB Financial attributed the jump in first half earnings to decreased financial
IndustryJuly 21, 2016
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Privacy nuts say ‘Pokemon Go’ is No-go
Beyond the obvious risks of being hit by a car, falling into a ravine, being shot at for trespassing or the wholesale detachment from the real, physical world, there’s a clear and present danger that comes from playing the wildly popular new augmented-reality game, “Pokemon Go.” Your kids, or anyone who plays the game, may not be aware that once they have signed up for the game, before they can prowl around the city looking for virtual monsters, catch them with Pokeballs and train them at so-cal
ViewpointsJuly 21, 2016
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Auto market to contract for first time in 3 years
Overall auto sales in South Korea this year is projected to decline for the first time in three years, a report said Thursday.According to a research center under Hyundai Motor, the country‘s largest carmaker, the local car market grew 9 percent in the first half year-on-year thanks to a consumption tax cut and a series of market debuts of vehicles by local carmakers.However, the market would see a significant decline in the latter half of the year with customers feeling less likely to buy cars
MobilityJuly 21, 2016
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[John Nery] After #Chexit: Do nothing?
This is the third in a new series of columns on global affairs which will be written by top editors from members of the Asia News Network and published in newspapers across the region. --Ed. The Philippine Left has a gift for mischievous phrase making, and last week’s coinage was both obvious and effective. #Chexit, with the now-obligatory hashtag, quickly made the rounds. Inspired by the tumultuous campaign to consider Britain’s exit from the European Union, the new catch phrase was code for th
ViewpointsJuly 21, 2016