Most Popular
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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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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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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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Meditation brings calm to Gwanghwamun
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KT and Microsoft to develop AI models for Korea
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Government to purchase 157,000 tons of rice
The government plans to spend 140 billion won ($113.6 million) to buy 157,000 tons of rice in the latest effort to stabilize rice prices, a ruling party lawmaker said Wednesday.The decision was made in a policy coordination meeting between the government and the ruling Saenuri Party at the National Assembly, ruling lawmaker Ahn Hyo-dae told reporters after attending the closed-door session. Rice harvest (Yonhap)Last year South Korea produced 4.32 million tons of rice, exceeding its earlier proje
IndustryFeb. 24, 2016
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Finance ministry to beef up fiscal frontloading for Q1
Korea's finance ministry said Wednesday that it will speed up its budget-frontloading efforts to pump-prime the economy struggling with faltering exports.The ministry earlier said it will spend 144 trillion won ($116.6 billion) out of the 330.6 trillion won budget for 2016 in the first three months of the year as key economic data showed that the country is facing some tough challenges.Asia's fourth-largest economy is grappling with plummeting exports in the face of a sharp downturn in oil price
Feb. 24, 2016
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Italy‘s castle farewell to literary giant Umberto Eco
MILAN (AFP) - Hundreds of mourners flocked to Milan’s Sforza Castle Tuesday to pay their respects to Italian literary giant Umberto Eco, the intellectual phenomenon behind the best-selling “The Name of the Rose.” Fans gathered outside the writer's home in the north Italian city applauded as Eco’s coffin, laden with white roses, was carried to the imposing 15th century citadel and laid in state in a courtyard, under a presidential guard. Musicians played Arcangelo Corelli's Baroque sonata “La Fo
CultureFeb. 24, 2016
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U.S. seeking to tag Korea as currency manipulator
The United States is moving to tag Korea as a currency manipulator at a time when the country is struggling with plunging exports, local observers said Wednesday.Korea and other countries that have consistently posted trade surpluses with Washington will likely be designated currency manipulators in the coming months after U.S. President Barack Obama signs an amendment to a related bill, according to the local observers."Korea along with Taiwan may be among the first to be designated as countrie
Feb. 24, 2016
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Gov't to hold off on plan for 4th mobile carrier
Korea's ICT ministry said Wednesday it has decided to put off a project to launch another mobile carrier in the country, after its previous attempts made no headway due to lack of financially qualified bidders.Since October 2010, the Ministry of Science, ICT and Future Panning has opened bidding seven times with the aim of setting up a new mobile carrier. At present, the market is dominated by three players: SK Telecom, KT and LG Uplus.The government's attempt is in line with its efforts to add
IndustryFeb. 24, 2016
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LG says mobile business to turn a profit in Q2
LG Electronics expects its mobile business to become profitable in the second quarter of 2016 as the effect of the global launch of its new flagship smartphone kicks in, the company's mobile chief has said.On Sunday, LG Electronics showcased the G5 that allows users to "add" more accessories to improve various features, along with a new design that lets batteries slide in from the bottom."We aim to swing to a profit in the April-June period, when the worldwide release of the G5 takes hold," said
IndustryFeb. 24, 2016
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Bagan ban: Myanmar stops tourists scaling prized pagodas
YANGON (AFP) - Visitors to Myanmar's ancient capital Bagan will no longer be able to climb the venerated pagodas for a view of the country’s most famous archaeological site, following a government edict railing against “disgraceful” tourist behaviour. The ban, which starts March 1, will end the daily ritual that sees hundreds of tourists and local pilgrims scaling the ancient structures to watch the sun set over a vast plain dotted with more than 2,500 Buddhist monuments. Myanmar's Ministry of C
TravelFeb. 24, 2016
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Pakistan literary festivals tell a tale of cultural revival
LAHORE (AFP) - Pakistan's literary scene is seeing a spirited revival, with packed festivals attracting tens of thousands in a rock concert-like atmosphere that defies security threats in a growing cultural renaissance. Events such as the raucous Lahore Literary Festival, held over the weekend, are reclaiming the “cultural space” that has shrunk significantly in the conservative Muslim nation in recent years amid a raging Islamist insurgency. The festivals -- platforms for all forms of cultural
CultureFeb. 24, 2016
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Singapore archbishop warns flock against Madonna concert
SINGAPORE (AFP) - Singapore's Roman Catholic archbishop has expressed concern at an upcoming concert by pop diva Madonna in the city-state and warned his flock against supporting those who “denigrate and insult religions.” Archbishop William Goh said in a statement posted on the diocese website on Saturday that he had met various government officials to express the church’s concerns about the Feb. 28 concert, part of her global Rebel Heart Tour. The concert, at the 55,000-seat National Stadium,
PerformanceFeb. 24, 2016
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Seoul to introduce new insurance plans for electric cars
The South Korean government plans to introduce new insurance plans for electric cars as early as September, officials said Wednesday.The new plans are expected to help users of eco-friendly cars pay less insurance. Models pose with Hyundai Motor’s Ioniq hybrid cars. (Yonhap)The Ministry of Trade, Industry and Energy and the Financial Services Commission are scheduled to sign a memorandum of understanding with the Korea Insurance Development Institute and other relevant agencies later in the day
IndustryFeb. 24, 2016
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Iran’s Mellat bank to reopen Seoul branch next month
Iran’s Mellat Bank plans to reopen its Seoul branch as early as next month following the lifting of sanctions on the Middle East country, a bank official said Wednesday.In January, the U.S. and the European Union removed decades-long economic curbs on Tehran following a landmark deal on nuclear armaments with Washington. A citizen walks past the signboard of Iran’s Mellat Bank in Seoul. (Yonhap)Since opening its Seoul branch in June 2001, Mellat Bank had supported bilateral trade and foreign exc
Feb. 24, 2016
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Park says job creation key priority
President Park Geun-hye said Wednesday that job creation is a key priority of her government in the latest sign of challenges facing South Korea.Park has been struggling to create more jobs for people, especially young people, though her efforts have not paid off.The jobless rate among people between ages 15 and 29 reached a record high of 9.2 percent in 2015, the highest reading since 1999 and much higher than the 3.6 percent average for the country as a whole.Park said the government should st
Social AffairsFeb. 24, 2016
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Appeals court upholds acquittal of ex-Navy chief over corruption
An appeals court on Wednesday upheld an acquittal of a former Navy chief for corruption in a deal to supply parts of the country's indigenous salvage ship, citing lack of evidence.The Seoul High Court found the retired Adm. Hwang Ki-chul, who served as the Chief of Naval Operations from 2013 to 2015, not guilty of allegations that he pressured his subordinates to forge a document in 2009 to help a firm win the contract.Prosecutors suspected that he made them manipulate a quality assurance docume
Social AffairsFeb. 24, 2016
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Korea, U.S. to hold first high-level meeting on nuclear pact in April
South Korea and the United States will hold their first high-level meeting in April on implementing their new nuclear energy partnership accord, a top Seoul diplomat said Wednesday.Vice Foreign Minister Cho Tae-yul said he plans to visit Washington next week to announce the official launch of the high-level committee tasked with discussing the details of the accord."In mid-April, the first meeting ... will be held in Seoul," he said during a keynote speech at a symposium on nuclear issues.Cho co
Social AffairsFeb. 24, 2016
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Actor Namgoong Min does all the bad things
Actor Namgoong Min, who played the villain Nam Kyu-min in the recently concluded drama "Remember - War of the Son," has an unusual achievement: committing all the bad deeds possibly shown on TV."I should probably stop playing the villain," he said while laughing in an interview with Yonhap News Agency on Tuesday. "Maybe I could in a different genre. I just think I've done all the horrible things you can on TV without violating the broadcasting guidelines."In the SBS series, the chairman's son wi
TelevisionFeb. 24, 2016
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Ruling party slams Chinese envoy's warning over THAAD
South Korea's ruling party on Wednesday strongly condemned a Chinese envoy's warning that the planned deployment of an advanced U.S. anti-ballistic missile defense system in South Korea could hurt Seoul-Beijing ties.Qiu Guohong, China's ambassador to Seoul, said Tuesday that the deployment of the Terminal High Altitude Area Defense (THAAD) system "could destroy bilateral relations in an instant." The remarks were made during his meeting with an interim chairman of South Korea's main opposition M
Social AffairsFeb. 24, 2016
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'Comfort women' film tops pre-sale reservation rates in local box office
A local film about the painful life of South Korean sex slaves during World War II, tops pre-sale reservation rates in the local box office, a market tracker said Wednesday."Spirits' Homecoming," released on Wednesday nationwide, enjoys a reservation rate of 27.2 percent, leading Hollywood blockbuster "Deadpool" and Disney animation "Zootopia" with a big margin, according to Korean Film Council (KOFIC). The booking rates for the two American films are 13.8 percent and 12.6 percent, respectively.
FilmFeb. 24, 2016
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New insurance plans for electric cars to be launched this year
The government plans to roll out new insurance plans reserved for electric cars around September, officials said Wednesday, in a move expected to help green car users pay less for premiums.The Ministry of Trade, Industry and Energy and the Financial Services Commission (FSC) were to sign a memorandum of understanding with the Korea Insurance Development Institute and other relevant agencies later in the day to jointly develop such programs, according the officials.The government has also agreed
Social AffairsFeb. 24, 2016
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Korea dismisses China's concern over THAAD
South Korea's presidential office expressed displeasure Wednesday at China's ferocious opposition to its push for the deployment of THAAD, a U.S. missile defense system, here.It is a matter of "self-defense" against North Korea's nuclear and missile threats, Cheong Wa Dae spokesman Jeong Yeon-guk told reporters.He was responding to increased public pressure from China over the THAAD issue.Beijing's top envoy in Seoul warned Tuesday that bilateral ties will be destroyed "in an instant" if the Ter
Social AffairsFeb. 24, 2016
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Young skaters hoping to show promise for future before home fans
When South Korea hosts the International Skating Union (ISU) World Sprint Speed Skating Championships this weekend, Kim Min-sun and Kim Tae-yun, two of the country's most promising young skaters, won't be feeling a lot of pressure, knowing they won't be expected to reach the podium against the world's fastest on ice.Instead, they want to show promise for the future before home fans at Taereung International Skating Rink in Seoul, the kind of potential that could be realized in the form of an Oly
Social AffairsFeb. 24, 2016