Most Popular
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Thousands rally in Seoul to call for Yoon's resignation
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Opposition mulls delay of financial investment income tax
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Immigration policy must go beyond labor supply: experts
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Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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Korean American documentary ‘Free Chol Soo Lee' wins Emmy
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KMA chief under pressure after surveyed doctors refuse to back him
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Meditation brings calm to Gwanghwamun
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Parties gear up for a post-filibuster fight
Rival parties are gearing up for a full-fledged battle for the next National Assembly, regrouping after spending more than a week in intense legislative deadlock brought about by the oppositions’ record-breaking filibuster. While the main opposition The Minjoo Party of Korea seeks to use the filibuster as political leverage, the ruling Saenuri Party is set on putting the blame for the legislative lull on its rival. The Saenuri Party accused the opposition of derailing the passage of business l
PoliticsMarch 3, 2016
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Emergency medical units too crowded in South Korea
Park Myeong-eun (not her real name), an office worker in her 30s in Seoul, was devastated when her father abruptly collapsed and lost his consciousness back in 2012. She and her family took him to the nearest general hospital, where he was admitted to its emergency facility, which was packed with patients. Her father soon awoke, but he had to wait more than five hours to get an x-ray done. “It was really frustrating,” she told The Korea Herald. “We were just repeatedly told that we needed to wa
Social AffairsMarch 3, 2016
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[Graphic News] North Korea’s trade deficit widens
The U.N. Security Council’s tougher economic sanctions against North Korea is expected to deal a serious blow to North Korea’s economy as they include a ban on the North’s major export items like coal and iron ore.According to a report released by South Korea’s Trade-Investment Promotion Agency on Thursday, North Korea’s external trade amounted to $7.6 billion in 2014 but its deficit widened to $1.29 billion, a 41 percent increase from a year earlier.North Korea’s major export goods included min
March 3, 2016
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Uncertainties remain on volatile peninsula after N.Korea sanctions
The U.N. Security Council on Wednesday adopted a resolution encompassing what officials have called the “toughest-ever” sanctions on North Korea, but local observers are saying the aftermath of the sanctions and their effect on the communist country’s much-condemned program remain to be seen. South Korean government on Thursday said that the unanimous adoption of Resolution 2270 represented the will of the international community that the North’s nuclear programs will not be tolerated. The measu
North KoreaMarch 3, 2016
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Dongbu Steel may avoid stock market delisting
Dongbu Steel may avoid a forced exit from the stock market, as its main creditor pushes for a debt-equity swap that would help the company reduce debt and meet capital requirements for a listing maintenance. “Creditors are in talks for a debt-to-equity swap to help our firm avoid being delisted, but the amount or timing of it is not decided,” the steelmaker said Thursday in a filing in Seoul. The state-run Korea Development Bank, Dongbu’s largest creditor, is currently lining up support from oth
March 3, 2016
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[Newsmaker]Will Doosan's generation shift bring changes?
Doosan Group chairman Park Yong-maan’s announcement he would hand over his top position to his nephew Park Jeong-won surprised the corporate world here this week, not just because of the peaceful power transfer he sought, but also because of the timing and significance the decision carried.The 54-year-old heir has always been first in the succession line, according to a unique tradition of the family-owned business, similar to the leadership of Muslim dynasties that has tended to pass between br
IndustryMarch 3, 2016
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Savings banks’ time deposit interest dips below 2 percent
Korea’s savings banks slashed interest rates on time deposits to below 2 percent, approaching the levels offered by commercial banks, amid the central bank’s record-low key rate policy. (123rf)The average interest rate on 90 fixed-term deposit products with a one-year maturity declined to 1.99 percent a year as of Tuesday, from the 2.67 percent recorded on Jan. 1 last year, according to data from the Korea Federation of Savings Banks on Thursday. The data showed that 2.32 percent was the highes
March 3, 2016
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[Herald Interview] ‘Comfort women’ statues resonate with Koreans
Since 2011, Sculptors Kim Seo-kyung and Kim Eun-sung have been making statues of teenage girls that symbolize Korean young women forced to work as Japanese military sex slaves, euphemistically called “comfort women.” They have made 30 statues so far, with more in the making. The bronze sculptures called “Statue of a Girl of Peace” are exhibited at memorial parks, museums and on the streets of Korea, the U.S. and Canada. Sculptors Kim Seo-kyung (left) and Kim Eun-sung pose with “Statue of a Gi
PerformanceMarch 3, 2016
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N.K. ups tension with short-range missiles
North Korea fired several short-range missiles towards the East Sea on Thursday, in apparent protest against the United Nations’ adoption of a series of the harshest-ever sanctions, the Defense Ministry said.The military provocation also came hours after President Park Geun-hye issued tough remarks against the communist regime, pledging to deter its “tyranny.”“The North Korean military fired six short-range projectiles from Wonsan, Gangwon Province, at around 10 a.m. today,” ministry spokesperso
North KoreaMarch 3, 2016
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Seoul city approves Shilla’s hanok hotel plan
Seoul City approved a plan by Hotel Shilla to build traditional-style accommodation in central Seoul after rejecting four previous attempts, officials said Thursday.The Seoul Metropolitan Government made the decision Wednesday to approve the plan to build a hanok-style hotel within the compound of the luxury hotel’s vast grounds in Jangchung-dong. Hotel Shilla is an affiliate of South Korea’s biggest conglomerate Samsung Group. The term “hanok” refers to traditional Korean tiled houses.There has
Social AffairsMarch 3, 2016
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GS chairman emphasizes shared growth at innovation center
GS Group chairman Huh Chang-soo called for shared growth between big businesses and local small and medium-sized enterprises during his visit Thursday to the group-led creative economy innovation center in Yeosu, South Jeolla Province. The Jeonnam Creative Economy Innovation Center was jointly established by the South Korean government and GS Group in June 2015 in a bid to nurture new businesses in the nation’s agricultural sector, drive up growth in the biomass chemicals industry and spur regi
IndustryMarch 3, 2016
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World powers welcome new U.N. sanctions on N.K.
The international community Thursday welcomed the passage of a new U.N. Security Council resolution against North Korea, vowing thorough implementation to bridle the reclusive state’s nuclear ambitions with the toughest sanctions yet.U.S. President Barack Obama welcomed the latest U.N. sanctions on North Korea as “a firm, united and appropriate response by the international community” to provocations by the communist regime.The U.N. Security Council unanimously passed the sanctions resolution, s
North KoreaMarch 3, 2016
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CJ vice chairwoman named Berklee board member
The Berklee College of Music in Boston said Thursday it has named Lee Mie-kyung, vice chairwoman of South Korean conglomerate CJ Group, as a new member of its board of trustees. The CJ executive, a U.S. citizen known as Miky Lee outside of Korea, has been overseeing the group’s entertainment and media business ranging from music to TV dramas since 1995. Lee Mi-kyeong (Miky Lee) As one of the most influential figures in promoting Korean pop culture overseas, Lee was the first Asian woman to recei
IndustryMarch 3, 2016
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[Consumer This Week] Burberry, CJ, Lafuma, Nongshim, Espoir, Beyond, 7Eleven
Burberry unveils “Art of the Trench in Seoul” project Burberry, a British luxury clothing and accessories brand, has launched its “Art of the Trench in Seoul” project here. The project, which commemorates Burberry’s signature trench coat, captured various people wearing the brand’s trench coat in different parts of the city. Around 30 celebrities including actors Lee Jong-suk, Cha Seung-won and Ko Su, as well as actresses Choi Ji-woo and Han Hyo-joo participated in the making of the project. Th
IndustryMarch 3, 2016
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[Editorial] Widening wage gap
The wide wage gap between small and medium-sized enterprises and large corporations continues to expand, making SME jobs increasingly unattractive to college graduates. Last year, workers at SMEs only earned 62 percent of the wages of their peers at big companies, the widest gap since the Employment Ministry and Statistics Korea began to compile the data in 2008. Large companies — defined as those with 300 or more workers on the payroll — paid their workers 5.01 million won ($4,110) a month on
EditorialMarch 3, 2016
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[Editorial] Gearing up for poll
The bill on redrawing electoral district boundaries finally passed the National Assembly on Wednesday, with just 42 days left to the coming April 13 general election. The parliament has also enacted the controversial antiterrorism bill and a long-stalled bill on improving North Korean human rights. The Assembly could act on the three key bills and a host of others as The Minjoo Party of Korea ended its filibuster Wednesday, after a total of 38 lawmakers had obstructed the passage of the antiterr
EditorialMarch 3, 2016
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[Jean Pisani-Ferry] Is Europe worth the effort?
When the United Kingdom joined the then-European Economic Community in 1973, it was at the rearguard of European integration. The question raised by the U.K.’s upcoming referendum on continued European Union membership is whether Britain is now at the forefront of Europe’s disintegration. The issue has little to do with the insignificant accord that Prime Minister David Cameron recently reached with his EU colleagues. Indeed, it is hard to believe that this agreement will determine Britain’s fat
ViewpointsMarch 3, 2016
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The genetic technology revolution
One of the most exciting and promising developments in the history of medical science may bypass the U.S. if the U.S. Congress fails to act. It needs to lift the ban on federal spending on research involving human embryos. Other governments are already responding to the progress being made in genetic technology. The U.K. has given researchers permission to use an ingenious new gene-cutting technique called Crispr-Cas9 to investigate how human embryos develop. Chinese scientists have wielded the
ViewpointsMarch 3, 2016
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Allegations against former SPO CEO false: police
The police announced Thursday that its ongoing investigation into alleged misconduct by former Seoul Philharmonic Orchestra CEO Park Hyun-jung has found that the charges against the former head are false and fabricated by members of the SPO staff. According to a statement issued by the police, the previous allegations that Park, 54, had verbally abused and sexually harassed staff are now being treated as a lie concocted by 10 members of the SPO staff who were looking to oust the former CEO. The
PerformanceMarch 3, 2016
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Choi shines as Korean-American adoptee in musical
A young Korean-American adoptee returns home for the first time in desperate search for his birth-mother. For musical director, conductor and actress Kolleen Park, the plot of her latest musical production “Airport Baby” may seem like an all-too-familiar tale. But add local musical actor Choi Jae-rim to the mix and the result is an unexpectedly moving portrayal of a troubled young soul. Following her role as a mother struggling with bipolar disorder in the Korean rendition of the off-Broadway mu
CultureMarch 3, 2016