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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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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Man calls 119, found dead 1 week later because officials went to wrong place
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Seoul to boost social media use
Seoul City vowed to actively utilize social media as an administrative tool to better communicate with the public and boost civic participation, officials said. For instance, disaster and safety alerts will be sent through Seoul City’s official social media accounts, including Twitter and Facebook, the Seoul Metropolitan Government said.This is part of the city’s “Social Metropolitan City Seoul” project that is based on how about 30 million Koreans use social networking services across the count
Social AffairsNov. 18, 2015
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[Choi He-suk] Giant snakes, sexy ladies and gruesome murders
Picture a giant snake and a fearsome lion battling -- in a manner as gory as possible -- to the death. Now, picture a beautiful woman baring all for no apparent reason, or making suggestive remarks to passersby, again for reasons unknown. Now, someone being the victim of a particularly gruesome murder or carrying out an act of senseless violence. Imagine, now, otherwise completely ordinary people coming to work to spend the entire day in search of “stories” involving, but not limited to, the
ViewpointsNov. 18, 2015
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STX Offshore seeks 800 layoffs by 2016
Cash-strapped STX Offshore & Shipbuilding has proposed drastic restructuring measures to its labor union in order to avoid court receivership, sources said Wednesday.They noted that STX chief executive Lee Byung-mo plans to ensure the company’s survival by slashing 800 jobs, or 30 percent of its workforce of around 2,600, and cutting salaries by 10 percent. He also seeks to drastically streamline the organizational structure. In a recent email to employees, Lee said that restructuring is “the on
IndustryNov. 18, 2015
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[Noah Feldman] Islamic State has more to gain in Beirut
Lebanese are justifiably frustrated that Friday’s attacks in Paris overshadowed the bombings that killed 43 people in Beirut City the day before. But equal respect for human life isn’t the only reason Western media should be more focused on Beirut than they have been. The Paris attack succeeded in frightening the West, but the attack on Beirut represents a more important strategic avenue for Islamic State. The Sunni-militant group isn’t going to destabilize France. Yet destabilizing Lebanon, a t
ViewpointsNov. 18, 2015
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[Editorial] Duty-free shops
In Korea, a duty-free shop is regarded as a goose that lays golden eggs. Once you are awarded a license to operate a duty-free shop, you are expected to make money relatively easily, given the small number of duty-free shops in Korea and the steady growth in foreign tourist arrivals. This perception underlay the revision in 2013 of the law on the operation of duty-free shops to shorten the license terms from 10 years to five years. Allowing a company to enjoy the privilege of running a duty-free
EditorialNov. 18, 2015
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[Editorial] NE Asia bank
President Park Geun-hye is pushing hard for her plan to set up a multilateral development bank to finance infrastructure construction in North Korea and other parts of Northeast Asia. Park first proposed the idea for the Northeast Asia Development Bank during her visit to Germany in March last year, pledging to help North Korea develop its economy if it gave up its nuclear ambitions. On Monday, she pitched the plan to the leaders attending the G20 summit in Antalya, Turkey, calling for global co
EditorialNov. 18, 2015
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LG cements alliance with Google for smart TV
LG Electronics said Wednesday that it had rolled out Google Play Movie & TV, an application for videos on demand, on its smart TVs.The combination between smart TVs and Google’s online video-on-demand app, which allows users to purchase or rent movies and TV shows, is the first of its kind in the domestic market. An LG official said that “the collaboration is aimed at offering utmost value for consumers to enjoy various content and services.” A model poses with LG’s smart TV, running the Google
TechnologyNov. 18, 2015
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Samsung to release budget handsets with premium features
Samsung Electronics plans to churn out mid- and low-end handsets with higher-end features including its mobile payment system Samsung Pay and fingerprint scanners, according to sources Wednesday.“Samsung is planning to deploy fingerprint sensors in budget smartphone models,” an industry source said.The official, however, did not specify the timeframe of the release or further details. Samsung Electronics‘ Z1 smartphone running on the Tizen operating system. (Yonhap)Only a handful of high-end mod
TechnologyNov. 18, 2015
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Korea's gold bourse on stable track
South Korea's gold bourse has taken shape, with the amount of gold bullion supply breaking the 2-ton mark in less than two years of its launch, data showed Wednesday.A total of 2,004 kilograms of gold, worth 85 billion won $72.5 million), has been provided to the market since March 24 last year through Wednesday, according to the gold bourse operator, the Korea Exchange (KRX). Over the cited period, the accumulated amount of gold traded reached 2,955 kg worth 126 billion won.The daily trading vo
Nov. 18, 2015
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Court again suspends custody of CJ head
An appeals court again accepted a request on Wednesday from the chairman of food and entertainment conglomerate CJ Group to suspend his three-year imprisonment for hospital treatment.The Seoul High Court decided to suspend the confinement of Lee Jay-hyun for four months till March 21, 2016. Lee is currently in hospital while awaiting the sentencing for a trial on tax evasion and embezzlement charges.Lee, who has undergone a kidney transplant, claims that he suffers from multiple illnesses such a
Social AffairsNov. 18, 2015
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CL to release Korean single this week
(YG Entertainment) YG Entertainment said Wednesday that 2NE1’s CL would release her solo track “Hello Bitches” on Saturday. The release is rather unexpected as CL has been preparing for her solo debut in the U.S., signing a contract with Scooter Braun’s SB Projects. She also took part in Skrillex’s “Dirty Vibe” and Diplo’s “Doctor Pepper.” The 24-year-old entered the international spotlight when she performed at the music festival “Mad Decent Block Party” with global artists. “Hello Bitches” w
PerformanceNov. 18, 2015
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Yuan’s SDR status may fuel won’s volatility
Local analysts forecast Wednesday that the Chinese yuan’s inclusion in the IMF’s reserve-currency basket could significantly affect Korea’s capital market.They said if the special drawing rights reserve-currency status is bestowed on the yuan it could increase the level of volatility in the domestic financial market. “Ahead of the U.S. rate-setting in December, the local market should look at whether or not the yuan is included in the SDR currency basket later this month,” said Yuanta Securitie
Nov. 18, 2015
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Vice FM due in D.C. for talks on economy, nuclear cooperation
Vice Foreign Minister Cho Tae-yul left for the United States on Wednesday to hold a series of high-profile talks on economic and nuclear energy cooperation.His four-day trip to Washington is to follow up on a pair of agreements between the two sides to launch a high-level economic council meeting and a separate commission on nuclear energy cooperation.On Friday, Cho is scheduled to hold the inaugural economic council session with Catherine Novelli, under secretary of state for economic growth, e
Foreign AffairsNov. 18, 2015
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Mutual military fund mulls new biz in private sector
The Military Mutual Aid Association, the fifth-largest institutional investor in South Korea, is considering a new business opportunity in the private military company sector, a high-ranking official of the fund said Wednesday.The MMAA forecast expanded business opportunities in the private military company segment as the local military is moving to outsource more of its non-combat services down the road, Lee Deok-keon, the association's managing director for planning and coordination said in a
DefenseNov. 18, 2015
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Seoul shares close flat on U.S. rate woes
South Korean stocks closed nearly flat Wednesday as the market's recovery from the Paris terrorist attacks was limited by concerns over a rate hike in the United States. The local currency closed lower against the greenback.The benchmark Korea Composite Stock Price Index edged down 0.7 point, or 0.04 percent, to 1,962.88. Trading volume was moderate at 531 billion shares worth 4.43 trillion won ($3.79 billion) with losers outpacing gainers 487 to 311.The local stock market recovered from a brief
Nov. 18, 2015
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Rolling Story takes Korean webtoons to global audience
Korea has seen rapid growth in the webtoon industry, with the number of digital comics platforms reaching nearly 30 and more than 4,000 comic artists currently working in the field as of last year, according to data by the Ministry of Culture, Sports and Tourism. Warren Kwon, CEO of Rolling Story (Rolling Story)For Warren Kwon, the chief executive of Rolling Story, it is time for webtoons to venture overseas. To do so, he teamed up with Korea’s leading webtoon artists and launched a collective
CultureNov. 18, 2015
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Telsa sees 'great potential' in S. Korea: exec
South Korea has "great potential" and is a market that Tesla Motors Inc. hopes to expand into in the future, one of its co-founders said Wednesday, stopping short of giving any specific business plans. Jeffery B. Straubel, chief technology officer of Tesla and its co-founder along with Elon Musk, made the remarks during a question-and-answer session following his keynote speech at a forum under way in Ilsan, west of Seoul."I can't give a very specific answer on when we will exactly start selling
MobilityNov. 18, 2015
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Watchdog says will limit 'excessive' insurance payments for expensive cars
South Korea's top financial watchdog said Wednesday that it will move to stop what has been called ridiculous amounts of money paid in insurance to expensive car owners involved in accidents, a move that will help prevent insurance bills of wrongdoers from skyrocketing but may work to the disadvantage of owners of such vehicles.The move follows a recent series of widely published incidents where owners of expensive, imported cars were strongly criticized for running up high repair costs, causing
MobilityNov. 18, 2015
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U.N. says Ban will not visit Pyongyang next week
U.N. Secretary-General Ban Ki-moon will not visit North Korea next week, a U.N. spokesperson said Wednesday, denying a Chinese news report that Ban will make a rare trip to the North next week. "The Secretary-General will not be traveling to the DPRK next week," a U.N. spokesperson said in a statement, referring to North Korea by the acronym for its official name, the Democratic People's Republic of Korea. The statement said Ban will be in "New York most of next week and then travel to Malta for
North KoreaNov. 18, 2015
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Pyongyang unveils plans to develop Rason economic zone
North Korea unveiled detailed plans Wednesday to develop its special economic zone in the border city of Rason aimed at luring foreign investment amid an economic slowdown and a series of U.N. sanctions.The North made public the comprehensive plan in what is seen as part of efforts to turn the area into a regional logistics hub close to both China and Russia, according to North Korea's official portal site Naenara.North Korea has sought to develop the zone since it designated Rason, formerly kno
North KoreaNov. 18, 2015