Most Popular
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‘Korea crossed the line too far’ disgraced singer’s lawyer cries foul after 3rd visa denial
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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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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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Seoul to hold grand military parade on Tuesday, disrupting major city routes
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Park Zi-a, the actor who played 'The Glory' heroine's mother, dies
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Nasrallah's killing reveals depth of Israel's Hezbollah penetration
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Israel targets Palestinian group in first strike on Beirut center
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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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KMA chief under pressure after surveyed doctors refuse to back him
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Lawmaker appears for prosecution over alleged corruption
A ruling-party lawmaker appeared before prosecutors Friday to face questions over suspicions that he took bribes from the country's biggest steelmaker POSCO.Lee Byung-suk of the ruling Saenuri Party is under suspicion of using his position to persuade POSCO to sign business contracts with subcontractors owned by Lee's acquaintances, prosecutors said.In return, Lee allegedly received tens of millions of won in bribes from one of the subcontractors.Lee showed up at the Seoul Central District Prose
Social AffairsJan. 29, 2016
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[Photo News] The New DS5 debuts
NEW DS5 DEBUTS -- Hanbul Motors, the Korean importer of Peugeot Citroen brands, started selling its premium brand DS’ crossover sedan, the New DS5, in Korea on Jan. 29. Equipped with a 2.0L BlueHDi 180 horsepower engine, the vehicle boasts a glass roof and a rear camera, as well as a luxurious interior inspired by an airplane cockpit. Prices start from 45.9 million won ($38,000). (Hanbul Motors)
MobilityJan. 29, 2016
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N. Korean nuclear envoy seen in Beijing
A North Korean diplomat handling the nuclear issue and relations with the United States arrived in Beijing on Friday, multiple sources here said.Choi Son-hui, deputy director-general of the North Korean foreign ministry's American affairs bureau, was seen entering China in the morning through the Beijing international airport, they said.It was not immediately confirmed whether she will be staying here or transferring to another country.Choi is the first-known key North Korean official to travel
North KoreaJan. 29, 2016
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Korea to join U.S.-led regional military drill in Thailand
South Korean combat forces will join a United States-led multinational military exercise to be held next month in Thailand, the Navy said Friday.Some 440 Navy and Marine soldiers will depart for Thailand on Saturday to join the Cobra Gold exercise, which will run from Feb. 6 through 19. It is an annual peacekeeping operation exercise, led by the U.S. Pacific Command and the Thailand military.In this year's gathering, some 7,900 forces will take part from Japan, Malaysia, Singapore and Indonesia
Social AffairsJan. 29, 2016
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Seoul closely monitors Pyeongyang's possible long-range missile
Cheong Wa Dae, South Korea's presidential office, said Friday that it is closely watching the signs for North Korea's long-range missile launch.The comments followed a series of media reports that Pyongyang could launch a long-range missile in one week's time at the Dongchang-ri launch site in the country's northwest, citing satellite imagery analyses."(The government) is keeping close tabs on (the signs of North Korea's long-range missile launch)," presidential spokesman Jeong Yeon-guk told rep
North KoreaJan. 29, 2016
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Ex-athletes enter new arena at upcoming elections
Former star athletes will enter a whole different arena in the spring, when they will be vying for parliamentary seats in the general elections.Former ssireum (traditional wrestling) national champion Lee Man-gi will take his third crack at the general elections. The 2004 Olympic taekwondo gold medalist Moon Dae-sung will be running for his second term. Lee Elisa, former table tennis world champion and veteran sports administrator, is also going for her second term.Park Chan-ho, the first South
PoliticsJan. 29, 2016
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N.K. military official returns as sports minister ahead of Olympics
A North Korean lieutenant general has come back as the country's sports minister after nearly two years, just ahead of the 2016 Summer Olympics to be held in Brazil later this year, the North's media said Friday.The North's state-run radio station called Ri Jong-mu the country's minister of physical culture and sports when it reported news related to a foodstuff factory for athletes.Ri, who was named sports minister in October 2012, was replaced by Kim Yong-hun in May 2014 ahead of the 2014 Asia
North KoreaJan. 29, 2016
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Debit card use keeps rising in 2015: data
Debit card use in Korea continued to rise in 2015 on tax benefits, data showed Friday, in a sign that the direct payment system is taking root in the country. (Bloomberg)According to the data by the Credit Finance Association of Korea (CREFIA), purchases made with debit cards reached 131.5 trillion won (US$108.9 billion) last year, or 20.6 percent of the 636.81 trillion won worth of transactions made using various types of cards.Last year marked the first time that the total topped the 20 percen
BusinessJan. 29, 2016
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Samsung to offer rewards to subcontractors
Samsung Electronics said Friday it would offer some 18.1 billion won ($14.9 million) worth of incentives to employees at its subcontractors in the chip segment. (Yonhap)The South Korean tech giant said the incentives would be given in the form of rewards to 10,000 workers at around 100 subcontract firms that complied with safety regulations. The amount reflects a 27 percent rise from the 14.2 billion won the company handed out six months earlier.Samsung first began the incentive program in 2013
IndustryJan. 29, 2016
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S. Korea’s industrial output rose in December
South Korea’s industrial output rose for the first time in three months in December, bolstered by solid growth in the chemical and refinery sectors, a government report showed Friday.Statistics Korea said production in mining, manufacturing, gas and electricity industries gained 1.3 percent last month from a month earlier. The increase marks a rebound after two straight months of decline. Tanker trucks are lined up at a parking lot near Seoul. (Yonhap)Compared with a year earlier, however, indus
Jan. 29, 2016
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Hyundai, Kia sales in Australia hit all-time highs
South Korea’s leading carmaker Hyundai Motor and its smaller affiliate Kia Motors saw their Australian sales hit all-time highs in 2015, industry data showed Friday. A Hyundai Motor dealership in Sydney, Australia.(Yonhap)Hyundai Motor sold 102,004 units, while second-ranked Kia Motors sold 33,736 units, according to data provided by Australia’s Federal Chamber of Automotive Industries.The numbers were the largest since the companies entered the Australian market. Hyundai Motor also saw its sale
IndustryJan. 29, 2016
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S. Korean manufacturing sentiment sinks to 7-month low
South Korean manufacturers’ business sentiment sank to its lowest level in seven months in February, a poll showed Friday.The business survey index for manufacturing companies came to 66 for February, down from 68 for January and the lowest since June, according to the Bank of Korea. An employee works on a car part at a factory in Korea. (Yonhap)A reading below 100 means pessimists outnumber optimists. The monthly survey covers about 2,800 firms. The BSI for nonmanufacturing companies fell 1 poi
Jan. 29, 2016
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Seoul shares open lower as foreigners sell
South Korean shares opened slightly down on Friday as foreign investors sold tech shares on downbeat earnings prospects. An investor watches share prices on an electronic board at the Korea Exchange. (Yonhap)The benchmark Korea Composite Stock Price Index lost 13 points to 1,893.94 in the first 15 minutes of trading.The index was trading 0.62 percent lower at 1895.08 points as of 9:37 a.m. Most blue chip stocks were in negative terrain. Market bellwether Samsung Electronics fell 1.48 percent fo
Jan. 29, 2016
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Fintech to pose threat to Korean banks: Moody’s
The growth of financial technology is a credit negative for Korean banks, global credit rating agency Moody said Thursday, claiming that it will undermine the already-dwindling profitability of brick-and-mortar lenders. The New York-based crediting agency said Korea's push for fintech, envisioned partly by soon-to-launch internet-only banks and recently-launched crowdfunding operations, will trigger fiercer market competition in the Korean financial industry scene.“These initiatives, which are p
Jan. 29, 2016
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Korean shares close flat as Fed nods to heightened risks
Korean stocks swung between gains and losses Thursday, after the U.S. Federal Reserve flagged risks to the U.S. economy from turmoil in global markets and indicated it would raise interest rates gradually. The benchmark KOSPI index settled at 1,906.94 points, 0.48 percent higher than the previous day, after dropping to 1,877.78 in early trading. The Korean won lost ground to 1,208.5 won per dollar, after the Fed kept its key interest rate untouched in a two-day meeting in Washington. “That the F
Jan. 29, 2016
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AmorePacific, Alibaba fight against forgeries
AmorePacific Group senior vice president Kwon Su-jung (right) and Wang Xinghao, senior manager at Alibaba Group, pose after signing a memorandum of understanding on intellectual property protection at Alibaba Group headquarters in Hangzhou, China, on Thursday. The two parties agreed to collaborate on preventing distribution of counterfeit AmorePacific products on Alibaba’ shopping malls including Taobao and T Mall.
IndustryJan. 29, 2016
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Samsung C&T reaps profit even after reflecting potential losses
Samsung C&T, the construction, trading and fashion unit of Samsung Group, on Thursday reported a net profit of 2.6 trillion won ($2 billion) in 2015, despite incurring heavy losses in the fourth quarter.The company posted a net loss of 161.7 billion won in the October-December period ― a steep decline from a net profit of 2.9 trillion won in the previous quarter ― which the company attributed to the merger between Cheil Industries and Samsung C&T to form the new holding company with the same nam
IndustryJan. 29, 2016
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Park In-bee withdraws from LPGA season opener with back injury
World No. 2 Park In-bee withdrew from the LPGA Tour's season opener on Thursday in the Bahamas with a back injury after shooting her worst round in seven years.Park shot a seven-over 80 at the Pure Silk Bahamas LPGA Classic, the worst score in the field of 108 after one round. Park picked up four birdies, but also committed seven bogeys and two double bogeys at the par-73, 6,625-yard Ocean Club Golf Course on Paradise Island.Her Seoul-based agency, Galaxia SM, said Park came down with back pain
GolfJan. 29, 2016
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U.S. believes N.K. tested components of H-bomb: CNN
North Korea could have tested some components of a hydrogen bomb in its Jan. 6 nuclear test, CNN reported Thursday, citing a U.S. official directly familiar with the latest U.S. assessment.The assessment comes after careful examination of the latest intelligence analysis of the test data, CNN said.CNN cited the unidentified official as saying that there may have been a partial, failed test of some type of components associated with a hydrogen bomb.The test was conducted more than two times deepe
North KoreaJan. 29, 2016
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N. Korea appears to be in early stages of rocket launch preparations: 38 North
Recent satellite imagery shows a range of low-level activities at North Korea's main long-range rocket launch site in an indication that Pyongyang may be in the early stages of preparations for a rocket launch, a U.S. research institute said Thursday.The analysis by the North Korea-monitoring website 38 North followed a series of media reports citing government officials and sources in Japan and the U.S. that the North appears to be making preparations for a long-range rocket launch that could t
North KoreaJan. 29, 2016