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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AI textbook bubble could burst, expert warns
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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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Samsung tightens its belt amid crisis winds
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Food tycoon Paik Jong-won's Theborn Korea pushes toward IPO
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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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North Korean leader sent his key aide to top school for re-education
North Korean leader Kim Jong-un has sent his key confidant to the country's top school for re-education, South Korea's intelligence officials said Thursday, in an apparent lenient punishment that could set the stage of his political comeback in the coming months, if not years."Choe Ryong-hae is receiving education at Kim Il Sung Higher Party School," an official said, referring to the top institution named after the country's founder, Kim's late grandfather.The school in Pyongyang is the top ins
North KoreaNov. 12, 2015
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Savings banks log profit for 5th consecutive quarter
Savings banks' net profit tripled in the first quarter of fiscal 2015 on the back of increased interest income and decreased loan-loss reserves, the financial watchdog said Thursday.The combined net profit of 79 savings banks operating in the country came in at 173.4 billion won ($149.9 million) in the July-September period, compared with 5.8 billion won tallied in the previous year, according to the Financial Supervisory Service. The savings banks close their books in June.The secondary lenders
Nov. 12, 2015
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Superstitions and cheering squads on ‘Suneung’ day
More than 630,000 South Korean 18-year-olds began the “Suneung” college entrance exam at over 1,000 exam sites Thursday morning. Korea’s education fever is most evident on exam day, with mothers praying outside school gates and younger students wishing good luck to the seniors in the brutally competitive daylong exam. Scroll down to see the typical scenes from this year’s exam day. 1. Police motorbikes This will the first and last chance that most students will get to ride a police motorbike. So
Social AffairsNov. 12, 2015
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BOK freezes key rate at record low of 1.5% in Nov.
South Korea's central bank froze its benchmark interest rate at a record low of 1.5 percent for November on Thursday, as it continues to gauge the impact of its previous rate cuts amid recovering local demand and a looming U.S. rate hike.This marks the fifth consecutive month the Bank of Korea (BOK) has kept the policy rate unchanged at the current level since it slashed the rate by a quarter percentage point in June to 1.5 percent.For the past year, the central bank has cut a total of 1 percent
Nov. 12, 2015
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Top court confirms jail term for lawmaker
The Supreme Court on Thursday upheld a four-year jail term for a ruling party lawmaker for taking bribes from a railway parts supplier in exchange for business favors. Upholding a lower court's ruling, the nation's top court also ordered Rep. Song Kwang-ho of the Saenuri Party to pay a fine of 70 million won ($60,700) and forfeit another 65 million won."The AVT head's testimony that he gave money to Song is credible and the lower court's judgment that Song paddled his influence on what's under o
PoliticsNov. 12, 2015
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Asia-Pacific news agencies to convene at summit in Seoul
Leaders of Asia-Pacific news agencies will gather in Seoul to discuss ways to expand exchanges and further cooperation, their association said Thursday.The 39th Organization of Asia-Pacific News Agencies Executive Board Meeting is slated for next Monday and Tuesday at the headquarters of Yonhap News Agency, South Korea's leading news wire agency, OANA said. This is the first time Yonhap is hosting the executive board meeting in 20 years.Some 49 leaders of 23 news agencies are expected to atten
Foreign AffairsNov. 12, 2015
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Korea's ICT exports backtrack in Oct. on weak global demand
South Korea's exports of information communication technology products backtracked in October, due to weak global demand, government data showed Thursday.Outbound shipments of ICT products hit US$16.04 billion last month, down 1.6 percent from $16.29 billion tallied the year before, according to data compiled by the Ministry of Trade, Industry and Energy. It said while exports fell compared to the previous year, the total actually represents a monthly high for 2015. The previous record was $15.9
Nov. 12, 2015
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Korea's home rental deals surge 16.7% in Oct.
South Korea's home rental transactions surged 16.7 percent on-month in October mainly due to a seasonal increase in demand, the government said Thursday.In the one-month period, the number of home rental transactions reached 122,617 units, up from 105,038 units in September, the Ministry of Land, Infrastructure and Transport said. Compared with a year earlier, monthly transactions fell 6.8 percent from 131,595 units.Data showed that in the 10 months of this year, transaction numbers edged up 0.3
Nov. 12, 2015
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Education ministry, foreign embassies ink deal on biz cooperation
The Unification Ministry and eight foreign embassies in Seoul agreed Thursday to cooperate on developing a program that will help middle school students explore their career options, government officials said.The education ministry, the institute for vocational training and foreign embassies, including the British Embassy, inked a deal to cooperate on ways to facilitate the "free semester" program, a key pillar of President Park Geun-hye's education policy, the ministry said.The free semester pr
Social AffairsNov. 12, 2015
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BOK freezes key rate at record low of 1.5 % in Nov.
BOK Gov. Lee Ju-yeol presides over a meeting of the monetary policy committee in Seoul on Thursday. South Korea's central bank froze its benchmark interest rate at a record low of 1.5 percent for November on Thursday, as it continues to gauge the impact of its previous rate cuts amid recovering local demand and a looming U.S. rate hike. This marks the fifth consecutive month the Bank of Korea has kept the policy rate unchanged at the current level since it slashed the rate by a quarter percen
Nov. 12, 2015
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Seoul shares open tad lower ahead of BOK rate decision
South Korean stocks started slightly lower Thursday, as investors remained on the sidelines ahead of the central bank's rate decision, analysts said.The benchmark Korea Composite Stock Price Index shed 2.38 points, or 0.12 percent, to 1,994.89 in the first 30 minutes of trading.The Bank of Korea is holding a rate-decision meeting, with the results to be announced soon. Major shares started mixed, with market bellwether Samsung Electronics and automaking giant Hyundai Motor trading in negative te
Nov. 12, 2015
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Why I’m giving ‘I.Seoul.U’ some love
It was a privilege a couple of weeks ago to play a small part in helping to choose a new brand for this dynamic city, so wanted to give my thoughts on what is a really brave approach to branding:‘I.Seoul.U’, the world’s first (mostly) crowd-sourced city brand.It’s fair to say, that on first sight ‘I.Seoul.U’ is linguistically curious and grammatically maverick but once I saw it with the accompanying line ‘A city of me and you’, then it was pretty clear that it was saying ‘Me, Seoul and you’ toge
Social AffairsNov. 12, 2015
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SK hynix to emerge as No. 4 chipmaker: data
South Korean chipmaker SK hynix Inc.is expected to emerge as the world's No. 4 player this year, marking a two-notch rise from last year, data showed Thursday, narrowing its gap with market behemoths -- Intel Corp. and Samsung Electronics Co.SK hynix is anticipated to rake in $16.9 billion in sales this year, up 4 percent from a year earlier, according to the data compiled by industry tracker IC Insights.The figure includes all chip segments from dynamic random access memory to system large scal
IndustryNov. 12, 2015
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North Korea leader attends state funeral of military marshal
North Korean leader Kim Jong-un has attended a state funeral of an iconic military marshal, while a party secretary did not show up amid rumors that he might have been removed from power, the North's media said Thursday.On Wednesday, North Korea held the funeral of Ri Ul-sol, marshal of the Korean People's Army, who died of lung cancer at the age of 94 on Saturday, according to the Korean Central News Agency.Also present at the funeral were senior party and military officials, including Hwang Py
North KoreaNov. 12, 2015
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Local fashion brand Courri boasts quality, design and affordability
Women’s clothing brand Courri (www.courri.com) is increasing its profile in the world fashion market, thanks to designs by Courri head Hwang Yoo-na and the technical skills of Seoul’s dressmakers.“In addition to the exquisite clothing that Hallyu stars wear, toned down naturalness is also a typical fashion style in Korea,” said cofounders Oh Jung-gun and Hwang Yoo-na.Courri’s design and production all take place in Korea. The products are crafted with fabrics sourced from the Korea Textile Expo,
IndustryNov. 12, 2015
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Kia Motors' sales in Mexico grow for fourth straight month in Oct.
Kia Motors Corp., South Korea's second-ranked carmaker, saw its sales in Mexico grow for the fourth straight month in October, industry data showed Thursday.According to the data provided by a local automotive association, Kia Motors sold 1,829 cars in Mexico, up 6.9 percent from a month earlier.Since entering the Mexican market for the first time in July, Kia Motors has posted on-month sales growth for four straight months. Kia Motors is currently aiming to join the top 10 players in the Mexica
MobilityNov. 12, 2015
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Database for world's largest historic recordings completed
The database for "Seungjeongwon Ilgi," the world's largest historic recordings written in the Joseon Dynasty (1392-1897), has been completed after 15 years of documentation and proofreading, the national history institution said Thursday.Dozens of historians had been mobilized per year for the highly specialized process started in 2001, which is also when the recordings were listed as a UNESCO documentary heritage, the National Institute of Korean History said."Seungjengwon Ilgi," also known as
Social AffairsNov. 12, 2015
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Exports by venture firms surge
Exports by South Korean venture firms increased this year on the back of strong sales of semiconductors and electronic parts in Vietnam and the United States, data showed Thursday. Outbound shipments by such firms reached $12.63 billion in the first nine months of this year, up 4.5 percent from a year ago, according to the data compiled by the Korea International Trade Association. In the same period, South Korea's overall exports fell 6.6 percent on-year to $396.86 billion. Their strong perform
Nov. 12, 2015
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Kia Motors' Soul emerges as No. 1 seller in overseas markets
The Soul box-type vehicle emerged as the best-selling car in overseas markets for South Korea's No. 2 carmaker Kia Motors Corp. this year, industry data showed Thursday.According to the data, Kia Motors sold a cumulative 177,457 units of the Soul overseas during the January-October period of the year, the largest among its vehicle models sold overseas.The sales figure exceeded the previous leader Pride subcompact, whose sales came to 176,979 units during the same period. This is the first time t
MobilityNov. 12, 2015
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Asiana's plan to launch 2nd budget carrier runs into opposition from rivals
Asiana Airline Inc.'s plan to launch its second budget carrier has run into opposition from rivals, who warned against excessive competition, industry and government sources said Thursday.According to industry insiders, several airlines filed formal objections on the creation of Air Seoul, citing safety concerns and the impact on the already oversaturated market. Asiana already jointly operates Air Busan with the city of Busan.The Ministry of Land, Infrastructure and Transport formally announced
IndustryNov. 12, 2015