Most Popular
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Yoon warns North Korea against nuclear attack attempt
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Seoul to hold grand military parade on Tuesday, disrupting major city routes
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81-year-old model awarded ‘best dressed’ in Miss Universe Korea
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Seoul mayor suggests shift in immigration policy
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NewJeans fans corner Hybe amid PR backlash, looming National Assembly audit
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'Smart pill'? ADHD treatment prescriptions spike this year
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[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears
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Israel targets Palestinian group in first strike on Beirut center
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[KH Explains] Is Hyundai-GM partnership win-win to beat Tesla, Chinese rivals?
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Man calls 119, found dead 1 week later because officials went to wrong place
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What is holding up business bills?
A negotiation impasse at the National Assembly is proving hard to break, as rival parties refuse to yield their position on provisions embedded in a set of controversial economic bills aimed to relax regulations on business activity. National Assembly Speaker Chung Ui-hwa (third from right) convenes a meeting of standing committee chairpersons on Tuesday. The NPAD members did not attend. YonhapThe bills in question are the Service Industry Development Act and Special Act for Boosting Business (b
PoliticsDec. 22, 2015
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Hyundai displays design philosophy
“Helio Curve” by Reuben MargoliCan an automotive company show its design philosophy through art?Hyundai Motor Group’s answer to the question is now on display at the “SIM: Sculpture in Motion” exhibition at the Dongdaemun Design Plaza in downtown Seoul until Jan. 10. Aimed at promoting its fluidic sculpture design philosophy, two pieces of internationally acclaimed installation art are on display at the Allim 2 exhibition hall reflecting the aesthetic catchphrase of the company. The first piece,
IndustryDec. 22, 2015
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Adhesive portable recorder wins Herald Design Tech 2015 award
The winning team of Herald Design Tech 2015 and CEO of Herald Corp. Lee Young-man (second from left) pose at the award ceremony on Tuesday in Seoul. Lee Sang-sub/The Korea HeraldA team of three university seniors won the top award at Herald Design Tech 2015, the design-meets-technology contest co-organized by Herald Corp. and Seoul Design Foundation. The team won the competition with their innovative adhesive portable recorder “Spicki,” which can be carried around easily to record any sound. The
Arts & DesignDec. 22, 2015
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Doosan chairman’s ‘human-oriented’ management hits snag
On Monday, Doosan Group officially put its prestigious machine tool business unit on the market. Despite the government’s plea to retain 51 percent stake to thwart attempts by foreign funds to buy it ― as the machine tools business is considered one of the country’s basic industries ― Doosan declined and said it would look for new owners to overcome its internal difficulties. Doosan Group chairman Park Yong-mann. YonhapIndustrial observers assume the company will be sold for around 1 trillion wo
IndustryDec. 22, 2015
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[Newsmaker] Tough tasks await finance minister nominee
Rep. Yoo Il-ho. YonhapYoo Il-ho, the nominee for Korea’s top economic post of deputy prime minister and finance minister, has vowed to carry on the legacy of his would-be predecessor, but the road ahead may require more, due to the multiple challenges the economy faces.“The global economic environment now is not very favorable, and navigating the local economy against this global backdrop will be a tough job,” Yoo, 60, told reporters shortly after his nomination Monday. The nominee stressed cons
Dec. 22, 2015
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Hasty household debt control can backfire on economy: BOK
Despite households worsening ability to repay debt, Korea should avoid implementing hasty control over the debt to prevent the nation‘s economy from entering recession, Bank of Korea said Tuesday.The central bank said that slower-than-expected improvement in household income is failing to keep up to pace with fast-rising household debt. However, the BOK said stronger intervention to slash household debt can impede growth by imposing pressure on the market, especially the property market. (Yonhap
Dec. 22, 2015
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A brokerage titan in the making
Mirae Asset Financial Group, with its charismatic self-made boss bent on expansion, is likely to win the race for majority stake in Daewoo Securities, a deal that would create a titanic new leader in the local brokerage industry. Park Hyeon-jooIn the bid that closed Monday, four submitted their final tender for a controlling 43 percent stake in the country’s second largest brokerage by assets. Among them, Mirae Asset Securities, the brokerage arm of the eponymous asset management-focused group,
Dec. 22, 2015
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Park steps up pressure on reform bills
President Park Geun-hye on Tuesday continued to add pressure on lawmakers to pass key bills related to government-led reforms in business, labor and education sectors, stressing that the college reform bill is critical to “enhancing competence in higher education” eventually raising youth employment.Speaking at the last Cabinet meeting of 2015, the South Korean leader also warned that the failure to carry out the reform may result in South Korea‘s sovereign credit rating being downgraded. Park s
PoliticsDec. 22, 2015
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Textbook row taken to Constitutional Court
South Korean civic groups on Tuesday filed an appeal to the Constitutional Court against the government for “infringing upon the impartiality of education” by taking over the publication rights for secondary education history textbooks.Minbyun, or Lawyers for a Democratic Society, said it made the appeal against the Education Ministry’s recent plan to reinstate government-issued textbooks from 2017, a contentious plan that has stoked opposition from mainly the progressive faction and much of the
Social AffairsDec. 22, 2015
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Saenuri blood boils at Choi’s return
A major factional feud looms at the ruling Saenuri Party upon the imminent return of Rep. Choi Kyung-hwan, the president’s top aide with a mission to sway parliamentary election nominations in favor of pro-Park figures.Choi is coming back to his third-term seat after his successor as finance minister was named in a Cabinet reshuffle Monday. He is expected to spearhead the faction loyal to President Park Geun-hye, and bracing for his return is the party’s chairman Rep. Kim Moo-sung, who represent
PoliticsDec. 22, 2015
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Nearly 70% survive 5 years after cancer diagnosis in South Korea
Almost 70 percent of Korean patients who were diagnosed with cancer from 2009-2013 have survived or are expected to survive at least five years after their initial diagnosis, a newly released government report showed Tuesday. The survival rate, 69.4 percent, is an increase of 15.6 percentage points over the rate for patients who were diagnosed from 2001-2005, which was 53.8 percent. The increased number of Koreans engaged in regular health checkups and healthier lifestyles, as well as a decrease
Social AffairsDec. 22, 2015
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Aging population poses risks in property market
The aging population could trigger new financial risks in the property market as an increasing number of retirees are expected to sell homes to repay debt, the Bank of Korea said Tuesday. The senior householders’ sell move could trigger oversupply of properties, pulling down property prices, eventually adding to household debt and decreasing the gross domestic product and economic growth rate. “The senior householders can pose new risks in the property market in their moves to deleverage their h
Dec. 22, 2015
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Seoul to simplify pollution controls
The central government will simplify the system for controlling pollution-generating facilities starting from 2017 as part of its efforts to reduce unnecessary procedural issues and lessen the burdens of businesses, officials said Tuesday. For this, the Environment Ministry said it would integrate polution permit systems. Currently, up to 10 types of separate permissions are required to run one pollution-generating facility. The permissions range from air pollution to water quality.The new syste
Social AffairsDec. 22, 2015
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Cabinet OKs Air Force reorganization plan
The Air Force will reorganize its hitherto geographically arranged command structure into a function-based one to enhance efficiency in peacetime and wartime aerial operations, officials said Tuesday.The plan was endorsed at the Cabinet meeting, which was presided over by President Park Geun-hye.Under the plan, the Air Force Operations Command will have two major subordinate units -- the Air Combat Command and the Air Mobility & Reconnaissance Command, whose roles are divided by combat role, rat
DefenseDec. 22, 2015
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N.K. to face greater dilemma over its nuke policy in 2016
North Korea is expected to face a greater dilemma next year over its policy of simultaneously developing nuclear weapons and its economy, a local think tank said Tuesday, noting that it would struggle to find a way out of it through provocative moves such as nuclear and missile tests. The dilemma may further deepen as the North is likely to face a “serious” shortage of food, caused by this year’s severe droughts, lack of international aid and sanctions over its nuclear and missile development, a
North KoreaDec. 22, 2015
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Nigerian falsely accused, denied right to legal defense: watchdog
South Korea’s human rights watchdog said Tuesday that police and prosecutors were recently cautioned for denying foreign suspects’ rights to self-defense by detaining an African man for 12 days without contacting his embassy. According to the National Human Rights Commission of Korea, police and prosecutors arrested a Nigerian and detained him for 12 days, ignoring his multiple requests to contact the Nigerian Embassy. Police arrested the man, who was at the time on the wanted list, on a theft
Social AffairsDec. 22, 2015
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[Editorial] Cabinet reshuffle
President Park Geun-hye completed a Cabinet reshuffle to brace for the coming April general election by replacing five more high-level posts including two deputy prime ministers, following her appointment of two new ministers in October. The shake-up will pave the way for some of the outgoing ministers to run for the nation’s 20th National Assembly election as long as they step down from their posts before Jan. 14. The nominees will also have to undergo parliamentary confirmation hearings. Needl
EditorialDec. 22, 2015
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[Editorial] Remedy for ailing firms
Last week’s rate hike in the U.S. is set to aggravate the interest burdens of Korea’s debt-saddled companies, including some struggling business units in the conglomerate sector. The ailing industrial segments include steelmaking and shipbuilding. Though a ruling party lawmaker in July proposed a bill to reinvigorate business activities by offering a certain grace period and supporting their voluntary restructuring, it is still pending at the Trade, Industry and Energy Committee of the National
EditorialDec. 22, 2015
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[Kim Seong-kon] Where is the Blue Bird of Happiness?
When I entered elementary school right after the Korean War, South Korea was a war-ridden, poverty-stricken country. Few fathers had a steady job to support their family and few mothers knew where the next meal would come from. The streets were full of beggars, lepers and veterans who had lost their arms and legs during the war. Since the government was not able to compensate the wounded veterans, they had no choice but to become panhandlers. The whole landscape of Korea was bleak and desol
ViewpointsDec. 22, 2015