Most Popular
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Seoul, Tokyo reboot joint maritime resource talks after 40-year freeze
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Host of Miss Korea apologizes for 'inappropriate question' about deepfake
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Korea to face another massive shortfall in tax revenue
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Who's lying? Hybe vs. Min conflict continues to intensify
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[Contribution] Turkmenistan celebrates the 33rd anniversary of its Independence
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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[Photo news] Faker Mercedes
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SK hynix outpaces Samsung, Micron with more powerful AI chips
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Power of nostalgia brings K-pop legends back together
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North Korea unveiling uranium enrichment site a US election-conscious move: NIS
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Woman attempts suicide by arson
A 42-year-old woman set fire on Thursday to her rented flat in Yeongdo-gu, Busan, in an apparent suicide attempt, police said.She was arrested by the police under charges of arson. (123RF)Police said she had told investigators that she wanted to die because of her financial difficulties, but once she started the fire, she regretted her actions and escaped.The woman, identified by her surname Lee, lived with her husband in a 1.2 square-meter flat with a monthly rent of 160,000 won ($136). While
Social AffairsMay 13, 2016
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Park agrees to regularly meet party leaders
President Park Geun-hye agreed on Friday to meet with the key political party leaders on a regular basis, a move aimed to start on a cooperative note with the new National Assembly. As for controversial agendas such as the toxic humidifier disinfectant investigation and the legislation of the Sewol special act, Park said that parties should reach a consensus among themselves. But they also agreed to establish a pan-partisan consultation committee on the humidifier disinfectant case if necessary.
PoliticsMay 13, 2016
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[Mike Gonzalez] The real reason the IS successfully recruits fighters
Which country has the highest percentage of its Muslim population fighting for the Islamic State group as foreign recruits? Algeria? Afghanistan? Indonesia? Nope.Try Finland. No. 2 is Ireland, followed by Belgium, Sweden and Austria.What do these countries have in common, besides being European? They’re wealthy, democratic and have high levels of education, health and income. They also have very low levels of economic inequality.These findings appear in an eyebrow-raising report by the National
ViewpointsMay 13, 2016
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Cliff from ‘My Love from the Star’ restricted for safety concerns
The famous cliff from 2014 hit-TV drama “My Love from the Star” has been temporarily closed to the public over safety concerns since April 22. According to the Incheon Metropolitan City, the cliff in Songdo was graded worrisome D and E in its latest safety examination. A scene from 'My Love from the Star' (SBS)Experts have reportedly warned that the cliff face was unstable and could result in deadly rock falls due to having been previously used as a quarry up to 1994. However, the city is know
May 13, 2016
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[David Ignatius] Can Assad keep crossing the ‘red line’?
The Obama administration has another chance to enforce its botched “red line” against the use of chemical weapons in Syria, given new reports that President Bashar Assad’s regime has used nerve gas against extremist fighters and may be planning more such attacks. Obama’s decision not to retaliate against Assad’s use of chemical weapons in 2013 has become an emblem for his larger foreign policy, which critics argue hasn’t been forceful enough in Syria and other places. Obama justified his restrai
ViewpointsMay 13, 2016
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Lawyer arrested in lobbying scandal
The prosecution has arrested a judge-turned-lawyer who allegedly received billions of won in legal fees in return for lobbying judges and prosecutors for her high-profile clients, officials said Friday. (Yonhap)The Seoul Central District Prosecutors’ Office said they arrested 46-year-old former chief prosecutor Choi Yoo-jeong late Thursday night for attempting to influence rulings of clients. Choi is accused of taking a total of about 10 billion won ($8.6 million) from two clients -- cosmetics f
Social AffairsMay 13, 2016
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[WEEKENDER] Turning sour on sugar
Earlier this year, local food columnist Hwang Gyo-ik made headlines by arguing that Korean cuisine culture was “uncivilized.” He said Koreans used too much sugar in almost every dish including kimchi, stir-fired anchovies and even the famous Korean barbecue.“It’s hard to find other countries that use sugar in almost every dish,” he said in a recent radio interview. “Sure, they have desserts, but they also have plenty of other dishes that do not contain sugar.” He argued that the “less civilized”
Social AffairsMay 13, 2016
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Dongwon recalls tuna cans over unidentified substance
Dongwon F&B has begun a voluntary recall of its mild tuna products in response to consumer concerns over an unidentified black substance in some of the cans, the company said Friday.The recalled product is the brand’s Mild Tuna 210 g, marked with expiration dates from March 23 to April 25, 2021. The company said that about 1.17 million cans will be collected from consumers and retailers.Dongwon said through a statement that the black substance was caused by “high heat in the manufacturing proces
IndustryMay 13, 2016
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Park holds talks with new floor leaders of 3 political parties
President Park Geun-hye began talks Friday with the new floor leaders and top policymakers of the three major political parties, a crucial meeting that could set the tone of Park’s relations with the rival parties in the new parliament.It marked the first time that Park has held a face-to-face meeting with the leaders following last month's parliamentary elections.The ruling Saenuri Party won 122 out of 300 seats up for grabs in a crushing setback to Park. The main opposition Minjoo Party and th
PoliticsMay 13, 2016
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KDB to speed up stake sales this year
The state-run Korea Development Bank said it wants to speed up the sales of its stakes in non-financial companies this year to put more focus on its own business and improve efficiency.Earlier this year, the policy bank had announced its plan to sell off stakes in 46 companies within this year, among the 132 non-financial companies that KDB wants to divest by 2018. The 132 are those in which KDB has a 15 percent or higher equity stake, or those in which the bank has secured a stake of 5 percent
May 13, 2016
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Gimpo airport to open new facilities for private, chartered planes
Gimpo airport, located just west of Seoul, will open dedicated facilities for private and chartered planes next month, South Korea's airport authority said Friday.The Seoul Gimpo Business Aviation Center will open at Gimpo International Airport in mid-June with an exclusive terminal and a hangar, according to the Korea Airports Corp.The terminal will have customs, immigration and quarantine facilities, as well as VIP rooms. The new aircraft hangar will be able to accommodate four planes at once,
IndustryMay 13, 2016
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Messaging app LINE tops Google Play Store sales rankings
LINE, the mobile messaging app of South Korean portal giant NAVER, has beaten its rivals in sales of applications available on Google Play Store for the past four years, a global industry tracker said Friday. In the four years up to March this year, the Korean messaging app topped others in the Google Play app worldwide revenue rankings. It took the top three spots due to robust sales of games, cartoon content and avatar apps, according to a report from App Annie, a U.S.-based app analytics comp
TechnologyMay 13, 2016
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Korea to showcase ICT power in PyeongChang Olympics
The South Korean government on Friday said it is gearing up to roll out a set of cutting-edge information, communication and technology systems to support the successful hosting of the 2018 PyeongChang Winter Olympics.Automatic translation services, based on artificial intelligence, will be offered in seven languages, including English, Chinese and French, in real time for athletes and visitors to the event to be held in the Gangwon Province town, according to the Ministry of Science, ICT and Fu
TechnologyMay 13, 2016
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NCsoft’s net surges 86% on overseas sales growth
NCsoft, Korea’s top online game developer, reported Friday its net profit in the first quarter had surged 86 percent to 66.2 billion won ($57 million), largely driven by sales growth in overseas markets. Its sales rose 28 percent to 240.8 billion won in the first three months of the year compared to the previous year. Operating profit was also up 69 percent to 75.8 billion won over the same period. The company’s global sales reached 109.3 billion won, making up 45 percent of its total revenue in
TechnologyMay 13, 2016
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Experts advise consumer awareness, better safety scrutiny by state on biocide scare
The deaths and permanent bodily damage traced to humidifier disinfectants have loudly sounded alarms about what goes into making household cleaning products.Experts are now calling on consumers to raise their safety awareness and pressing the government to intensively verify any potential harm before the products are marketed.Participants in a boycott of goods from Oxy Reckitt Benckiser were growing, in both consumers and shops, after nearly 100 deaths were blamed on toxic chemicals that were in
Social AffairsMay 13, 2016
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Injured gymnast submits entry for Olympic trials
Injured South Korean gymnast Yang Hak-seon has registered for the upcoming Olympic trials, though his status remains doubtful, officials said Friday.The Korea Gymnastics Association said Yang submitted his entry for the May 21-22 national team trials in Seoul. The 2012 Olympic champion in the men's vault, however, is still recovering from a ruptured Achilles tendon in his right foot, sustained during practice on March 23.At the time of the injury, KGA officials said rehab would take three to fou
Olympic GamesMay 13, 2016
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BOK freezes rate for 11th month
The Bank of Korea’s monetary policy committee on Friday left the base interest rate unchanged at a record-low 1.5 percent for the 11th consecutive month in May. The decision was expected by 11 of 12 analysts in a Yonhap News survey. The rate freeze comes as the Korean central bank comes under increasing pressure to provide liquidity to two policy banks which are heavily exposed to troubled shipping and shipbuilding industries. Discussions on how to recapitalize the state-run lenders are currentl
May 13, 2016
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BOK freezes rate for 11th month
The Bank of Korea’s monetary policy committee on Friday left the base interest rate unchanged at a record-low 1.5 percent for the 11th consecutive month in May. The decision was expected by 11 of 12 analysts in a Yonhap News survey. The rate freeze comes as the Korean central bank comes under increasing pressure to provide liquidity to two policy banks which are heavily exposed to troubled shipping and shipbuilding industries. BOK Gov. Lee Ju-yeol (Yonhap)Discussions on how to recapitalize the
May 13, 2016
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[Market Now] Doosan out, LG in MSCI index
LG Household and Health Care will join MSCI’s index of global equities, which are tracked by global funds, while Doosan will be out, the index provider announced in Geneva on Thursday.The changes will be implemented as of the close of May 31, 2016. The news lifted shares in LG Household 0.86 percent higher to 1,050,000 won ($896) apiece on the Seoul bourse on Friday, against the broader KOSPI‘s 0.53 percent decline. Doosan tanked 6.54 percent to 97,200 won per share. MSCI reviews its indices fou
May 13, 2016
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Net fund assets exceed 450 tln won amid low rates
Net fund assets operated by South Korean asset management companies have recently exceeded 450 trillion won ($385 billion) as investors opt for higher-yielding products away from low-rate bank products, an asset investment association said Friday. The total net asset size of publicly and privately placed funds under the management of local asset managers reached 450.67 trillion won as of May 11, jumping from 401.9 trillion won on March 13 last year, according to data from the Korea Financial Inv
May 13, 2016