Most Popular
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Who's lying? Hybe vs. Min conflict continues to intensify
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Seoul should engage Kim Jong-un’s elites for change, ex-North Korean diplomat says
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Thousands rally in Seoul to call for Yoon's resignation
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Most teen sex offenders get away with slap on wrist
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
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Man sentenced to 1 year, 8 months for stealing from elementary school classrooms
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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Same-sex couple denied insurance clearance despite landmark ruling
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Suicide attempts spike among youth in Korea
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Panmunjom tours for select Korean nationals may resume in October
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Banknotes in circulation top record W90 tln in February
The amount of banknotes currently in circulation has reached over 90 trillion won ($78.12 billion), the central bank said Monday, apparently in line with the bank's continued easing stance to bolster growth in Asia's fourth-largest economy.Outstanding banknotes came to 90.79 trillion won as of end-February, gaining 1.3 percent from a month earlier and breaching the 90 trillion-won mark for the first time in the country's history, according to the Bank of Korea (BOK).Outstanding banknotes refer t
April 11, 2016
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Seoul keeps close tabs on Pyongyang’s possible nuclear test
South Korea is closely monitoring North Korea over its possible fifth nuclear test this week, a presidential official said Monday.Presidential spokesman Jeong Yeon-guk did not provide details but said Seoul is keeping very close tabs on developments taking place in the isolationist country.There has been speculation that Pyongyang may carry out a fifth nuclear test ahead of its founder Kim Il-sung's birthday, which falls on Friday. The founder is the late grandfather of the country's current lea
North KoreaApril 11, 2016
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Hanwha E&C wins $400m construction deal from Saudi Arabia
Hanwha Engineering and Construction Corp., a major South Korean builder, said Monday that it has won a deal to build a chemical plant in Saudi Arabia for about US$400 million. The deal signed last week, local time, with Saudi Calcined Petroleum Co. called for Hanwha E&C to build the plant in an industrial complex located in the southeast region of the Middle East country. The plant, if completed as planned during the first half of 2018, will be able to produce about 670,000 tons of petroleum-rel
IndustryApril 11, 2016
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GM Korea's new Malibu to intensify competition in midsize sedan market
GM Korea's planned launch of the new Malibu next month is expected to intensify competition in the midsize sedan market here where major automakers are already clashing with their latest popular models, industry sources said Monday.The midsize sedan market here is being dominated by such popular models as Hyundai Motor's Sonata and Kia Motors's K7. Recently, Renault Samsung Motors unveiled the SM6, which has been drawing a better-than-expected market response. GM Korea's Malibu midsize sedan (Y
MobilityApril 11, 2016
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Korea unsure whether stolen Buddhist statue was previously plundered: broadcaster
South Korea finds it difficult to determine conclusively that an ancient Buddhist statue stolen from a Japanese temple was illegally brought to Japan, although it is highly likely for the statue to have been previously plundered by Japanese pirate raiders, a Japanese broadcaster reported Monday.Japanese public broadcaster NHK said the Korean Cultural Heritage Administration made the judgment in a report on the statue of the Avalokitesvara Bodhisattva, which was one of two Buddhist statues stolen
Social AffairsApril 11, 2016
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Actress Go Ara tapped as face of Korea's Air Force
Go Ara, the leading actress in the sensational nostalgic drama "Reply 1994," will represent South Korea's Air Force as its latest honorary ambassador, the Air Force said Monday.The 26-year-old actress will serve as the face of the Air Force over the next year, appearing on promotional Air Force publications and attending key public events.Go is the daughter of a career service member, who served for nearly 30 years with the Air Force, and her appointment reflected this background, the Air Force
April 11, 2016
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Korean Air fails to attract bond investors on Hanjin Shipping woes
Korean Air failed to attract investors to its bonds due to growing risks stemming from its cash-strapped subsidiary Hanjin Shipping, according to news reports that cited investment banking sources.The listed Korean flag carrier, with a credit rating of BBB-plus, was seeking to issue bonds worth 250 billion won ($218 million) with a two-year maturity through its underwriters – Dongbu Securities, Kiwoom Securities, Korea Investment & Securities and Hyundai Securities.However, the company only saw
April 11, 2016
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419 candidates, $870 billion. Promises or lies?
The sheer scale of funds estimated to realize the pledges of parliamentary candidates is shedding doubt on the plausibility of the promises and the sincerity of the candidates. According to analysis by local daily Joongang Ilbo, it would take the future 20th National Assembly more than 1 quadrillion won ($870 billion) to carry out their pledges, far exceeding this year’s national budget set for 380 trillion won -- which is already a 10 trillion won increase from the year before. National Assemb
PoliticsApril 11, 2016
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[Photo News] Templestay for KEB Hana clients
TEMPLESTAY FOR KEB HANA CLIENTS -- A group of expats who joined KEB Hana Bank’s Templestay Tour pose in traditional temple attire at Woljeongsa Temple, Gangwon Province, on Saturday. The bank said Monday that nearly 30 customers from 14 countries have participated in the two-day program held in partnership with the Jogye Order of Korean Buddhism. (KEB Hana Bank)
April 11, 2016
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Korea, U.S. begin 11-day naval drill along southern coast
South Korea and the United States kicked off an 11-day joint naval exercise along the southern coast of the Korean Peninsula on Monday to enhance their combined readiness to conduct search and rescue operations and other underwater missions, the Navy said.South Korea's Navy mobilized the 3,500-ton rescue vessel, Tongyeong, along with 12 specialized ship salvage unit personnel for the joint drill, which is part of the ongoing annual Foal Eagle field exercise. The U.S. side brought in the 3,300-to
DefenseApril 11, 2016
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More South Korean bank branches shuttered in 2015
The number of bank branches in South Korea declined sharply in 2015 from the previous year as more users opted for mobile and Internet banking, data showed Monday.A total of 13 national and regional banks had a combined 5,890 branches and representative offices across the nation as of end-2015, down 165 from a year earlier. SC Bank Korea headquarters in downtown Seoul. (Yonhap)Standard Chartered Bank Korea, formerly SC First Bank, posted the largest drop by cutting 71 branches last year. In thei
April 11, 2016
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N.K. military intelligence officer defected to S. Korea
A ranking North Korean military officer in charge of conducting intelligence operations defected to South Korea last year, Seoul's defense ministry said Monday, as the North's leader is tightening his grip on the regime.A North Korean senior colonel, whose name has been withheld, defected in 2015 after working at the North's reconnaissance bureau tasked with carrying out espionage missions against the South, the ministry said. (Yonhap)"(The North Korean military official's defection) is a fact,
North KoreaApril 11, 2016
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Samsung narrows market share gap with Intel
Samsung Electronics is steadily closing the gap with its global rival Intel Corp. in the semiconductor sector last year, data showed Monday.As the world‘s No. 2 supplier of semiconductor chips, Samsung had a 11.6 percent market share in 2015, up 0.9 percentage point from a year earlier, according to data from industry tracker IHS.U.S.-based Intel had 14.8 percent share in terms of sales, up 0.7 percentage point on-year. The data showed that the gap between the two firms is narrowing gradually fr
IndustryApril 11, 2016
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Momentum builds on steeper minimum wage hike
Momentum builds on steeper minimum wage hikeBy Kim Kyung-hoRepresentatives from labor, management and the public sector last week undertook negotiations on setting the mandatory minimum wage to be applied at workplaces across the country next year.Korea’s minimum wage has increased at a rapid pace in recent years, in particular under President Park Geun-hye’s administration, which has tried to bolster wage earners’ income as part of efforts to reinvigorate the economy by boosting domestic consum
April 11, 2016
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Hyundai Motor’s Sonata 4th best-selling hybrid in U.S.
South Korea’s leading automaker Hyundai Motor’s hybrid car sales in the U.S. grew just over 9 percent in the first quarter to become the fourth best-selling vehicle in the segment, industry data showed Monday.The Sonata -- the only hybrid model available from Hyundai in the U.S. -- sold a total of 4,436 units during the January to March period, according to U.S. website Hybridcars.com. Hyundai Motor’s Seoul headquarters confirmed the figures. Hyundai Motor’s Sonata hybrid (Yonhap)The Sonata hyb
IndustryApril 11, 2016
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Robo advisers help lower investment barriers
Automated financial advisory platforms, also known as “robo-advisers,” are making it easier for ordinary Koreans to invest in financial products, industry officials said Sunday. Unlike conventional asset management services that require a minimum deposit of 100 million won ($86,700) at banks, brokerages and asset management firms, robo-advisers ask for just 5-10 million won.They also incur less costs for investors by using big data and computer algorithms to analyze risks and rebalance portfolio
April 11, 2016
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Seoul shares open lower ahead of key Chinese data
South Korean share prices opened in the negative on Monday as investors remained cautious ahead of the release of major Chinese economic data due this week.The benchmark Korea Composite Stock Price Index fell 3.87 points, or 0.2 percent, to 1,968.18 in the first 15 minutes of trading. As of 10:24 a.m., the KOSPI was trading 0.4 percent lower at 1963.93. Traders monitor South Korean share prices at a local bank. (Yonhap)Analysts said traders are likely to stay in selling mode as they wait for a s
April 11, 2016
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Orioles' Kim Hyun-soo gets 2 hits in MLB debut
The Baltimore Orioles South Korean outfielder Kim Hyun-soo recorded two hits in his Major League Baseball (MLB) debut Sunday.Batting ninth and playing left field, Kim went 2-for-3 with a run scored as the Orioles defeated the Tampa Bay Rays 5-3 at Oriole Park at Camden Yards in Baltimore. The Orioles improved to 5-0 this season.Kim, an All-Star in South Korea who signed a two-year deal with the Orioles last December, had watched the club's previous four games on the bench. He had a dismal spring
BaseballApril 11, 2016
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Calls in Korea for nuclear weapons reflect views U.S. security guarantees are fragile: CRS report
Renewed calls in South Korea for the redeployment of U.S. tactical nuclear weapons to the country or its own nuclear armament reflect concerns that U.S. security guarantees are "fragile," a U.S. congressional report said.The North's fourth nuclear test in January and its long-range rocket launch in February have led some leading members of South Korea's ruling party to make the case for nuclear armament, arguing that it makes no sense to rely on the U.S. "nuclear umbrella" as the North's nuclear
DefenseApril 11, 2016
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Visitors flock to Korean booth at LA book festival
Visitors continued to drop by the Korean booth at the Los Angeles Times Festival of Books on Sunday, many of them younger people attracted to Korean culture amid "hallyu," or the worldwide popularity of Korean pop music and TV dramas.The annual book fair, which is in its 21st year, opened Saturday for a two-day run on the University of Southern California campus. About 300 publishing firms are participating in the event, with some 150,000 people expected to visit.On display at the Korean booth s
April 11, 2016