Most Popular
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Yoon warns North Korea against nuclear attack attempt
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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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'Smart pill'? ADHD treatment prescriptions spike this year
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AI textbook bubble could burst, expert warns
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[KH Explains] Korea pursues ‘fire-free’ batteries amid EV fears
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[Herald Review] One of Netflix's most expensive Korean originals returns, but at what cost?
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Man calls 119, found dead 1 week later because officials went to wrong place
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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Samsung tightens its belt amid crisis winds
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Korea-China economic ties to get boost from yuan's SDR status
The already close economic ties between South Korea and China will receive a further boost from the yuan's inclusion in the International Monetary Fund's reserve currency basket, local observers said Tuesday.The move, to go into effect on Oct. 1, 2016, is not expected to have an immediate impact on bilateral cooperation or the international financial market as a whole, but the steady rise of China as a global economic powerhouse will be felt down the road, they said."Many central banks will move
Dec. 1, 2015
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Korea lowers MERS alert to lowest readiness level
South Korea lowered its Middle East Respiratory Syndrome alert level to its lowest readiness posture Tuesday with no new infections being reported in nearly five months, the government said.The Ministry of Health and Welfare said the decision to lower the readiness level from "yellow" to "blue" comes after local disease experts reached agreement that there is no chance of new cases occurring in the country. The downgrade took effect as of noon. The respiratory disease which was first confirmed o
Social AffairsDec. 1, 2015
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GM Korea's sales dip 2.2% in Nov.
GM Korea Co., the local unit of U.S.carmaker General Motors Co., said Tuesday that its sales in November dropped 2.2 percent from a year earlier due to weak domestic sales.The carmaker sold 51,052 units last month, down from the previous year's 52,218 units, the company said in a press release.Its domestic sales shrank 7.3 percent on-year to 11,446 units, while overseas shipments also edged down 0.7 percent to 39,606 units. GM Korea's cumulative sales during the January-November period totaled 5
MobilityDec. 1, 2015
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Ssangyong Motor's Nov. sales soar 24.2%
Ssangyong Motor Co., the local unit of Indian auto conglomerate Mahindra & Mahindra Ltd., said Tuesday that its sales shot up 24.2 percent on-year in November as soaring sales at home helped offset plunging exports. Ssangyong Motor sold 12,415 units last month, up from the previous year's 10,000 units, the company said in a press release.The figures do not include complete knockdown kits that are assembled abroad. Overseas shipments nosedived 20.1 percent to 3,353 units over the cited period. O
MobilityDec. 1, 2015
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Korean retail sales hit 10-month high in Oct.
South Korea's retail sales rose to a 10-month high in October as tax cuts and a large discount event propped up consumer spending, a government report showed Tuesday. Retail sales topped 32.28 trillion won ($27.87 billion) in October, up a sharp 6.5 percent from 30.29 trillion won a year earlier the report by Statistics Korea showed. The on-year increase is the highest reached since the 8.5 percent spike reported for February 2012.The number also represents a 3.5 percent increase from 31.17 tr
Dec. 1, 2015
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Number of firms on antitrust watch list rises in Dec.
The number of South Korean business group affiliates subject to restrictions on mutual investments and loan guarantees rose by 12 in December from a month earlier, the antitrust watchdog said Tuesday.The Fair Trade Commission said the number of firms on its watch list came in at 1,668 as of Tuesday, up from 1,656 on Nov. 1.A total of 16 companies were added to the list while four were removed. All the companies are owned by the country's 61 largest business groups.A total of 11 business groups,
IndustryDec. 1, 2015
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New Marine Corps brigade created in Jeju
A new Marine Corps brigade was launched Tuesday to undertake a mission to defend the southern resort island of Jeju and its adjacent area, the Marine Corps said.The new 9th Brigade will take over the mission to secure the safety of the southern island area from the Navy-led Jeju Defense Command, which was recently decommissioned in a reshuffle.The Navy established the new Jeju Naval Base Squadron in lieu of the dissolved command to take charge of a naval base which will be launched early next ye
DefenseDec. 1, 2015
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North Korean envoy gets tour of Chinese herbal medicine
North Korean Ambassador to China Ji Jae-ryong took a rare tour of Chinese herbal medicine and traditional medical treatment at China's southern resort city of Sanya, according to the city government on Tuesday.The tour took place last Friday at Chinese Medicine Hospital of Sanya, the Chinese city said in an article posted on its official website. Reports of public activities by the North Korean envoy are incredibly rare. A photo taken by the hospital shows Ji and his wife posing for the camera w
North KoreaDec. 1, 2015
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PM vows stern measure against masked protesters
Prime Mister Hwang Kyo-han on Tuesday vowed to take stern measures against those committing violent acts while hidden behind face masks during street rallies."Those committing illegal acts and (taking part in) violence while hiding behind anonymity with face masks should be sternly punished after gathering evidence during rallies," Hwang said during a Cabinet meeting.The comment came after a massive anti-government rally in downtown Seoul last month led to violent clashes as protesters brandishe
Social AffairsDec. 1, 2015
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Seoul shares up 1.2% higher on blue-chip gains
South Korean stocks traded higher late Tuesday morning as investors picked up tech, steel and other large-cap shares following a marked loss in the previous day. The benchmark Korea Composite Stock Price Index rose 23.67 points, or 1.19 percent, to 2,015.64 as of 11:20 a.m. This followed a 1.82 percent plunge on Monday.Tech issues rebounded, with Samsung Electronics and Internet portal operator Naver jumping 1.79 percent and 1.74 percent, respectively. Steelmaking giant POSCO surged nearly 3 per
Dec. 1, 2015
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Samsung replaces Galaxy chief
Samsung Electronics on Tuesday announced it has named Koh Dong-jin, executive vice president in charge of mobile R&D, to lead the company’s flagship mobile business division that has been struggling with profitability despite increased device sales. Shin Jong-kyun, the current mobile business chief who has been affectionately called “Mr. Galaxy,” will step back from day-to-day operations to focus more on long-term strategy and fostering new growth businesses, the company said. He still retains t
TechnologyDec. 1, 2015
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U.S. congressmen pledge to help realize family reunions involving Korean-Americans
A group of U.S. congressmen pledged all-out efforts on Monday to help realize family reunions between Korean-Americans and their long-lost relatives in North Korea."This is a humanitarian issue that I believe has to be met with international attention," Rep. Robert Dold said during a forum on the issue held at a congressional building. "We're losing by the day family members that are no longer able to see their loved ones."Millions of Koreans remain separated by the 1950-53 Korean War.Since the
InternationalDec. 1, 2015
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Koreas' experts to meet in China for joint dictionary project
South and North Korean lexicographers plan to meet in China next week to discuss the details of an ongoing project to publish a joint dictionary of their language, government officials said Tuesday.A group of 23 South Korean experts will visit China's northeastern coastal city of Dalian from Monday to next Sunday to hold a meeting with their North Korean counterparts over the contents of the dictionary, the Ministry of Unification said.Similar forums were already held twice this year.The joint d
Dec. 1, 2015
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Daily won-yuan trading tops $2 bln in one year
The average daily trading volume of the won-yuan trading market here has exceeded $2 billion over the past year as it has successfully taken root to help bolster South Korea-China economic ties, data showed Tuesday.The daily turnover reached an average $2.26 billion as of end-November, compared with a daily $880 million recorded in December last year, the first month of the launch of the market, according to data compiled by the Bank of Korea. In November, the figure hit $3.63 billion.The daily
World BusinessDec. 1, 2015
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Samsung names new head for mobile business
South Korea's top conglomerate Samsung Group on Tuesday appointed a new head for its flagship mobile business, which is struggling with falling margins amid rising competition from low-end smartphone makers and Apple Inc.Under its annual executive-level reshuffle, Koh Dong-jin, who was previously in charge of the mobile research and development, was promoted to head Samsung Electronics Co.'s Mobile Communications Business.Shin Jong-kyun, meanwhile, will remain as the head of the IT & Mobile Comm
CompaniesDec. 1, 2015
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IMF approves China’s yuan as elite reserve currency
The International Monetary Fund welcomed China’s yuan into its elite reserve currency basket on Monday, recognizing the ascendance of the Asian power in the global economy.The yuan, also known as the renminbi, will join the US dollar, euro, Japanese yen and British pound next year in the basket of currencies the IMF uses as an international reserve asset.IMF Managing Director Christine Lagarde called the decision “an important milestone in the integration of the Chinese economy into the global f
World BusinessDec. 1, 2015
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Korean salesman fined for visiting Syria without gov't permission
A local court has fined a South Korean television salesman for visiting Syria, which is on the travel ban list, without getting permission from the government, officials said Tuesday.The Seoul Central District Court fined the man whose identity was withheld, 300,000 won ($258) for visiting Syria last year for three days in violation of the passport act.Seoul has imposed a travel ban on Syria since 2011 for safety risks, such as civil war and threats of terrorism from the Islamic State.Under the
Social AffairsDec. 1, 2015
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Obama, Xi agree to work together for global climate deal
U.S. President Barack Obama and Chinese President Xi Jinping agreed Monday to work together to help produce a global deal on cutting greenhouse gas emissions at a U.N. conference on climate change, the White House said.The two leaders reached the agreement when they met on the sidelines of the U.N. conference in Paris designed to build political momentum for negotiations on a new, legally binding deal to cut greenhouse gas emissions. It brought together leaders from more than 140 countries."The
InternationalDec. 1, 2015
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Trump criticizes Obama for focusing too much on climate change while ignoring North Korea
Republican presidential front-runner Donald Trump criticized President Barack Obama on Monday for putting too much focus on curbing climate change while ignoring more serious problems like North Korea.In an interview with MSNBC, Trump said it was "one of the dumbest statements I've ever heard in politics" for Obama to say that "our No. 1 problem is global warming."Obama was in Paris for a crucial U.N. conference aimed at working out a deal on curbing climate change."When we have large groups of
InternationalDec. 1, 2015
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IMF decides to include Chinese yuan in SDR basket of key currencies
The International Monetary Fund decided Monday to include China's yuan in a basket of key international currencies in a move expected to serve as a boon to the world's second-largest economy.The IMF decided at an executive board meeting to add the yuan, also known as the renminbi , to the special drawing right basket of currencies currently made up of the U.S. dollar, euro, Japanese yen and British pound.The decision has been widely expected after IMF Managing Director Christine Lagarde said ea
World BusinessDec. 1, 2015