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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Psy's touch or new trend in music? P Nation’s solo stars lose their shine
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Opposition mulls delay of financial investment income tax
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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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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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Shut up and dance
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Israel targets Palestinian group in first strike on Beirut center
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BTS’ Suga fined W15m for e-scooter DUI
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[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?
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Bank federation chief calls for fee hikes
Korea Federation of Banks chairman Ha Yung-ku said Wednesday that dwindling margins are forcing local banks to raise service and transaction fees for account holders. “The profit outlook for Korean commercial banks is grim. It is almost inevitable that they take steps to improve margins,” said Ha, a former longtime CEO of Citibank Korea, in a press conference in Seoul.“Fees need to rise to realistic levels,” he said, adding that the current levels are too low. Ha Yung-ku (Yonhap)Local banks have
Jan. 27, 2016
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Korea Eximbank sets aside W75tr for loans, guarantees
The Export-Import Bank of Korea said Wednesday it has allocated loans and guarantees worth 75 trillion won ($62.5 billion) in 2016 amid the sluggish global economy, vowing strong support for the nation’s future growth engines. The official export credit agency increased its allocation for corporate loans and investment by 1 trillion won from the previous year to boost liquidity among promising exporters, bank officials said. Of the total, the agency plans to inject 3.5 trillion won for promisin
Jan. 27, 2016
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Korea aims for MSCI upgrade
Korea will introduce an omnibus account system for foreign investors and explore ways to improve the local currency’s convertibility in order to help get its stock market upgraded by MSCI global equity indexes, the Financial Services Commission said Wednesday. MSCI indexes are some of the world’s most widely tracked benchmarks and serve as the basis for over 500 exchange-traded funds. Financial Services Commission chief Yim Jong-yong attends a meeting in Seoul on Wednesday. (Yonhap)“Given the re
Jan. 27, 2016
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Media art lights up cold, bleak city
It has been more than a month since Christmas lights were stripped-down from buildings, reducing the city blocks once again to their default cold, bleak and gray. In Seoul, however, media art installations and exhibitions have replaced the sparkling Christmas decorations, illuminating the city’s bleak midwinter and offering people the opportunity to enjoy some contemporary art. At the grand front entrance of the Sejong Center for the Performing Arts in Gwanghwamun, a huge screen has been set up
PerformanceJan. 27, 2016
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Hallyu fans spike in 2015
The number of global hallyu fan club members surpassed 35 million across 86 countries last year, up from 21.8 million in 2014, according to new data from the Korea Foundation Tuesday. There were a total of 1,493 official hallyu fan clubs worldwide, a 21 percent increase from 2014 when there were 1,229 clubs. A total of 26.21 million fan club members were reported in Asia-Pacific -- a 48 percent increase from 2014. The Americas had 7.58 million fans, a staggering 182 percent rise from 2014 to 201
Jan. 27, 2016
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Korea aims for top start-up accelerator nation
The Korean government on Wednesday announced a set of new plans to support start-ups and encourage entrepreneurship overall with aims to become one of the top seven start-up accelerating nations by the end of this year. The Ministry of Science, ICT and Future Planning unveiled its 2016 work plans that, among other things, aim to vitalize the start-up sector and support research and development projects for ICT, science and biotechnology. The ministry did not specify the budget for the plans bu
TechnologyJan. 27, 2016
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Forgery rumors, suspicions rock Korean art community
The Korean art world has been engulfed in a scandal involving rumors and suspicions surrounding allegedly forged works of Lee U-fan, a leading Korean artist on the international art scene. A forged certificate for his famous “From Point” series painting -- sold for $415,600 at a local art auction in December -- has shaken the Korean art community, spreading mistrust and suspicion in a world where reputation matters a great deal. As the National Forensic Service hasn’t confirmed the authenticity
PerformanceJan. 27, 2016
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[Irina Bokova and Sara Bloomfield] Did Goebbels' message win out in the long run?
In 1930s Germany, Nazi Party leaders understood the power of mass communication to disseminate hatred and anti-Semitism. “Propaganda,” Hitler wrote, “is a truly terrible weapon in the hands of an expert.” In their rise to power, the Nazis deployed sophisticated modern communications technologies, including radio and film, to win the battle of ideas -- and thus to shape public opinion and behavior -- among a well-educated population in a fledgling democracy. The Nazis are gone but propaganda live
ViewpointsJan. 27, 2016
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China firm against sanctions-only approach toward N. Korea
BEIJING -- The United States and China failed Wednesday to narrow differences over the level of punishment against North Korea for its recent nuclear test.After talks with U.S. Secretary of State John Kerry here, Chinese Foreign Minister Wang Yi showed disapproval of the U.S.-led drive to focus on imposing the toughest-yet sanctions on North Korea.He said sanctions shouldn't be the objective in itself."The new resolution should not provoke new tension in the situation, let alone destabilize the
North KoreaJan. 27, 2016
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Chinese chemical firm to be listed on Seoul's minor bourse
China Crystal New Material Holdings Co., a synthetic mica manufacturer based in the Cayman Islands, is set to float on South Korea's secondary KOSDAQ market, the Seoul bourse said Wednesday. Its shares will begin trading on Thursday, with its initial price set at 3,000 won ($2.5) per share, the Korea Exchange (KRX) said. It is the first time in four and a half years since a Chinese company has entered the Korean stock market.Investor sentiment toward locally listed Chinese shares remained cold a
IndustryJan. 27, 2016
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Seoul shares soar 1.4% on oil, Fed hopes
South Korean stocks rallied 1.4 percent Wednesday as investors hunted for bargains on a recovery in oil prices and hopes for a relief message from the U.S. central bank. The local currency closed higher against the U.S. dollar.The benchmark Korea Composite Stock Price Index added 26.18 points to end at 1,897.87. Trade volume was moderate at 345.5 million shares worth 4.99 trillion won ($4.15 billion), with winners beating losers 478 to 346.The local market joined the wave of the global bull run
Jan. 27, 2016
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Avoiding psychiatric treatment linked to Korea’s high suicide rate
Avoidance of psychiatric treatment and alcohol abuse are significantly linked to South Korea’s high suicide rate, a government report showed on Wednesday. The research, which surveyed 151 family members of 121 suicide victims last year, raised concerns about the nation’s social stigma against people with mental disorders and substance abuse, which often discourages them to seek professional help. South Korea is notorious for its high suicide rate – the highest among countries within the Organiza
Social AffairsJan. 27, 2016
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Korea losing Chinese tourists to Japan
The number of Chinese visitors coming to South Korea declined last year in contrast to a growing number of travelers heading to Japan, sparking concerns that Korea is losing its place as a population destination for the Chinese. A Chinese tourist enjoys sledding at High1 Resort, Jeongsun in Gangwon Province. (Yonhap)A total of 4.99 million Chinese travelers visited Japan last year, setting a new record, according to reports based on data released by the Japan National Tourism Organization on Wed
IndustryJan. 27, 2016
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[Photo News] OCI completes 10MW plant in Huai'an
OCI COMPLETES HUAI’AN SOLAR PLANT — OCI president Huh Man (center) and company officials hold a ribbon-cutting ceremony Wednesday to mark the completion of OCI’s 10-megawatt solar power plant located in a 270,000-square-meter-wide crab farm in Hongze County of Huai’an, China. The plant, able to produce electricity for some 3,600 households, will become a supplier to the State Grid Corporation of China for the next 20 years, according to green energy and chemical company OCI. (OCI) OCI’s 10-megaw
IndustryJan. 27, 2016
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[Choi He-suk] Yeouido’s affairs and romances
There is a line in everything, a boundary that should not be pushed too hard or violated. Whether it is an interpersonal relationship, or a professional code of conduct, there is a limit beyond which one’s actions become no longer acceptable. The party crossing the line is often unaware that this invisible boundary is being violated, and in some cases the violator is the first to cry foul and be offended. Crossing the line seems to be becoming more and more common throughout society. These vio
ViewpointsJan. 27, 2016
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Opposition party chief quits after internal feud
The head of the main opposition party quit his post on Wednesday and handed over the top job to a key architect behind President Park Geun-hye's campaign pledge of economic democracy."I am sorry for causing concerns and disappointment to the people," Moon Jae-in said in a party meeting.Moon's party has suffered a factional feud for months following the party's crushing defeat in the parliamentary by-elections last April.Moon had failed to work out differences with Ahn Cheol-soo, a former co-chai
PoliticsJan. 27, 2016
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SK Group sets ‘new energy’ as future growth engine
SK Group has selected alternative energy as a new business area to lead its future growth, eyeing forthcoming changes to sweep the global business landscape in an era of global warming. Officially announcing “new energy” as its next growth engine Wednesday, SK said it has drawn up a special committee, led by the chief executive of SK E&S, to lead its foray into the emerging segment. New energy refers to alternative forms and sources of energy other than conventional fossil fuels. Alternative ene
IndustryJan. 27, 2016
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5 Chinese fishermen rescued from capsized boat
Five Chinese fishermen have been rescued from their boat that capsized in the waters off South Korea's southwestern coast Wednesday, while five others remain trapped, the coast guard said.Four fishermen were picked up by another nearby Chinese fishing boat about 85 kilometers northwest of Gageo Island.The coast guard said it rescued a fifth fisherman, though he is unconscious. Five others remain trapped inside the capsized boat.The accident occurred around 10:35 a.m. when the doomed boat started
DefenseJan. 27, 2016
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Consumer sentiment at 6-month low
Consumer confidence has slipped in January to a six-month low as households fretted about the economic outlook on the back of China’s slowdown and stock market tumble.The composite consumer sentiment index for January came to 100, compared with 102 the previous month, according to the data released by the Bank of Korea on Wednesday.(Yonhap)“Consumers view on their financial situation got worsened as recent oil price drop and China’s sluggish economy weighed on their outlook for the country’s eco
Jan. 27, 2016
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Korea voices regret over N.K.'s rebuke against Park
South Korea voiced deep regret Wednesday that North Korea rebuked President Park Geun-hye for stressing the need to hand down stronger sanctions over the North's nuke test in her recent national address.North Korea's main newspaper, the Rodong Sinmun, said Tuesday that the South Korean leader delivered a national speech to avert a political crisis, calling her a devil of this era indulged in a dictatorship.On Jan. 13, Park vowed to make all diplomatic efforts to ensure that the U.N. Security Cou
North KoreaJan. 27, 2016