Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Pay debate plagues foreign nanny pilot
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K-pop star lip-syncing controversy flares up again
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Man escapes DUI charges by downing bottle of soju while pulled over
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35% of S. Koreans view unification 'unnecessary'
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Pianist Lim Yunchan double winner at Gramophone Awards
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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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Slew of top K-pop stars ready to return from military
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Doosan joins race for downtown duty-free shop
Doosan Group, a South Korean machinery and power equipment conglomerate, said Wednesday that it has decided to submit a bid to win a license for a duty-free store in downtown Seoul, joining a tough race for the lucrative business. Doosan's decision was influenced by the heavy industry-focused business group's drive to diversify its business portfolio, while other contenders are eager to enter the fast growing duty-free market estimated at some 8.3 trillion won last year. Doosan Group currently
IndustrySept. 2, 2015
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N. Korean drone flew across DMZ amid August tension: source
A North Korean surveillance drone flew over a South Korean military outpost without interruption, just hours before the two Koreas kicked off talks on easing military tensions in late August, defense sources said Wednesday. The unmanned aerial vehicle, measured slightly longer than 3 meters, crossed the demilitarized zone, which bisects the peninsula, and flew above the compound along the central part of the four-kilometer-wide military buffer, the sources said. The flight took place about two
North KoreaSept. 2, 2015
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Samsung C&T vows to create synergy, listen to shareholders
Top executives of Samsung C&T Corp., the merged entity of two key units of Samsung Group, said Wednesday they will strive to create synergy by integrating different businesses, as the group's de facto holding firm began operating early this week. Samsung C&T, the newly created entity through a merger between a construction and fashion unit of the same name and Cheil Industries Inc., was officially launched Tuesday, after a tough battle with a U.S. hedge fund that opposed the move. "We thank ev
IndustrySept. 2, 2015
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Korea Post, eBay join forces for promotion of S. Korean goods
South Korea's postal service said Wednesday it has agreed to join hands with U.S. e-commerce giant eBay Inc. to promote South Korean smaller firms' products on the world's leading sales platform. Under the agreement, the Korea Post will provide a 5 percent discount in shipping to small local firms selling their goods on the platform. The postal service said the move will help local firms build an overseas sales network, as eBay boasts around 300 million users in 200 countries. Local small and
IndustrySept. 2, 2015
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Samsung showcases IoT device for better sleep
South Korea's top tech giant Samsung Electronics Co. unveiled a device on Wednesday that connects to the Internet and home appliances to provide a better environment for sleeping, in its latest effort to diversify its product lineup amid ailing handset sales. The device, dubbed SLEEPsense, can analyze movement, heartbeat and respiration during users' sleep and connects to various home electronics, such as TVs and air conditioners, to provide an optimized sleep environment, Samsung said. For ex
IndustrySept. 2, 2015
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Saenuri Party chief emphasizes importance of labor reform
The chief of the ruling Saenuri Party said Wednesday that reforming the rigid labor market is the foundation of President Park Geun-hye's "four major reforms." "Labor reform is the foundation of every reform that will reorganize the entire workforce and system of the labor market," Rep. Kim Moo-sung said during a speech to mark the beginning of the National Assembly's regular session. The party has vowed to pass a set of bills to reform the labor market and create more jobs to bolster Presiden
PoliticsSept. 2, 2015
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Mortgage loans rise at fast pace in Aug.
Home-backed loans extended by South Korean banks gained at the fastest clip in five years in August, industry data showed Wednesday, due to increased home transactions and a rise in apartment prices. Outstanding mortgage loans by the country's six major commercial banks, including Kookmin and KEB Hana, reached 327.9 trillion won ($278 billion) as of end-August, up 6.4 trillion won from the previous month, according to the data. The monthly gain marks the sharpest rise for the month of August
Sept. 2, 2015
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Eomuk Bokkeum (Stir-fried fish cakes)
Eomuk (fish cakes) are processed seafood made with pureed fish. Eomuk bokkeum is a stir-fried side dish that’s quick and easy to prepare. Busan is famous for the most delicious eomuk. You can use any type or shape for this eomuk bokkeum recipe. Slice the fish cakes if they are thick so the sauce can easily penetrate them. Thin rectangular eomuk is most commonly used type for this dish. It’s the type of eomuk we grew up with before the industry became highly sophisticated. This recipe uses onion
FoodSept. 2, 2015
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N Korea urges S. Korea not to dampen inter-Korean ties
North Korea on Wednesday urged South Korea to refrain from making comments that could dampen inter-Korean ties following the two Koreas' landmark deal, warning that Seoul's attitude could push the hard-won conciliatory mood to return to confrontation. Just one week before the North's warning, South and North Korea reached a landmark agreement to ease military tension on the Korean Peninsula and resume the reunion of families separated by the 1950-53 Korean War, raising hopes for better ties. T
North KoreaSept. 2, 2015
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Personal credit card spending flat in July amid MERS outbreak
Growth in credit card spending by South Korean individuals remained unchanged in July from a year ago due apparently to the Middle East Respiratory Syndrome outbreak, data showed Wednesday, pointing to the slow recovery of consumer spending. In July, individuals' credit card billings expanded at an annualized rate of 6.6 percent, the same growth rate posted for the same month a year earlier, according to the data compiled by the Credit Finance Association. The association didn't disclose the v
Sept. 2, 2015
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S. Korea's current account surplus narrows in July
South Korea's current account surplus narrowed in July from a record high in the previous month due mainly to a fall in the goods balance, data showed Wednesday. The current account surplus reached $10.11 billion in July, compared with a revised $12.11 billion surplus in June, according to the provisional data released by the Bank of Korea. The current account is the biggest measure of cross-border trade. The monthly decline was largely attributed to a drop in the balance of goods, which slump
Sept. 2, 2015
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Park meets with Xi ahead of WWII celebrations
President Park Geun-hye met with Chinese President Xi Jinping for talks expected to focus on how to move forward bilateral relations and how to deal with North Korea and other regional issues, South Korean officials said Wednesday. No details of their meeting -- the sixth such summit between the two leaders since Park took office in early 2013 -- were immediately available. President Park Geun-hye met Chinese President Xi Jinping Wednesday (Yonhap)Park and Xi were to hold a luncheon meeting
InternationalSept. 2, 2015
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S. Korea's travel account deficit hits 7-year high on MERS
South Korea's travel account deficit reached a seven-year high in July on the fallout from the Middle East Respiratory Syndrome outbreak, while its current account surplus narrowed from the previous month, data showed Wednesday. July's travel account deficit stood at $1.45 billion, the worst reading since a $1.65 billion shortfall in July 2008, and widening from a $1.04 billion deficit in the previous month, according to the provisional data released by the Bank of Korea. The MERS outbreak, w
IndustrySept. 2, 2015
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Lotte shares bullish despite leadership feud
Shares of Lotte Group units have been trading bullish since the outbreak of a family feud over group leadership, data showed Wednesday, apparently due to high hopes the fight will eventually boost its governance structure. Since Japan-based Lotte Holdings Co., the de facto holding firm of Lotte Group, decided to sack founder Shin Kyuk-ho from his post in the conglomerate in late July, shares of eight listed Lotte subsidiaries have advanced 6.94 percent on average through Monday. The move to re
IndustrySept. 2, 2015
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S. Korea's tax revenue gain fails to match economic growth: report
South Korea's tax revenue growth has failed to keep up with its economic expansion, a lawmaker said Wednesday, calling for the "normalization" of the country's corporate income taxes. Citing a report by the National Assembly Budget Office, Rep.Park Kwang-on of the main opposition New Politics Alliance for Democracy said South Korea's "economic growth to tax revenue elasticity" figure stood at minus 0.1 as of 2013. The number was the third lowest number among the 29 Organization for Economic C
Sept. 2, 2015
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S. Korea, China hold talks on N. Korea ahead of summit
The chief nuclear envoys from South Korea and China held talks on Tuesday on ways to resolve a long-running standoff over North Korea's nuclear weapons program, officials said Tuesday, a day before President Park Geun-hye and Chinese President Xi Jinping hold a summit in Beijing. South Korea's chief nuclear envoy, Hwang Joon-kook, arrived in Beijing earlier in the day and held talks with his Chinese counterpart, Wu Dawei. Hwang said the Tuesday meeting was aimed at fine-tuning the North Korean n
North KoreaSept. 1, 2015
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Assembly session off to shaky start
Prospects for the last regular session of the 19th National Assembly remained dim as the rival parties got off to a shaky start Tuesday, locking horns over the main opposition party’s demand to disclose details of special allowances spent by state offices.Lawmakers honor the national flag during the opening session of the National Assembly on Tuesday. (Yonhap)On the first day of the 100-day session, the parliament came to a deadlock as rival parties engaged in a political dogfight over the propo
PoliticsSept. 1, 2015
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Daddies speak out on need for better balance
Long working hours and social pressure against them taking leave for child care are some of the major difficulties faced by modern fathers in their 30s and 40s, a survey in Seoul showed Tuesday.According to the survey conducted by Seoul Foundation of Woman & Family from May 28 to June 10, 48.5 percent of the respondents cited long working hours and heavy workload as the reasons for poor work-family balance, followed by social pressure deterring them from taking child care leave (24.5 percent), l
Social AffairsSept. 1, 2015
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KEB Hana Bank sets sail as No. 1 lender
KEB Hana Bank, the result of a merger between Korea Exchange Bank and Hana Bank, was launched on Tuesday, vowing to lead the banking industry with stronger asset management services. Hana Financial Group chairman Kim Jung-tai (center, front row) and KEB Hana Bank president Ham Young-joo (fourth from right, front row) attend the launching ceremony of KEB Hana Bank in the bank’s headquarters in central Seoul on Tuesday. (KEB Hana Bank)Upon officially capping the KEB-Hana merger, the new entity ros
Sept. 1, 2015
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Amnesty for offshore tax cheats
The Finance Ministry said Tuesday that it would pardon individuals and companies that not paid taxes on gains from overseas investments, as long as they voluntarily report their gains for tax payment by the end of March.The tax authority’s policy came from the Park Geun-hye administration’s efforts to expand the sources of state tax revenue, according to government officials and market observers.The plan targets both Korean residents and firms operating in Korea, said Deputy Prime Minister and F
Sept. 1, 2015