Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Man escapes DUI charges by downing bottle of soju while pulled over
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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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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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NPAD may oust ex-vice spokesman for praising N.K. leader
The main opposition New Politics Alliance for Democracy’s floor leader Rep. Lee Jong-kul said Friday that he would consider ousting Huh Young-il, a former party vice spokesman who recently resigned over his Facebook post praising the North Korean leader.“I’m not sure how much Huh actually respected (North Korean leader Kim Jong-un), but just the fact that a person in the party’s important role made such comment is a grave problem,” Lee said in a radio interview. Huh’s expulsion may be considered
NationalAug. 28, 2015
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NPAD seeks to impeach home affairs minister
The main opposition New Politics Alliance for Democracy said Friday it has decided to seek for an impeachment of the home affairs minister for his controversial comment criticized for violating political neutrality. Government Administration and Home Affairs Minister Chong Jong-sup reportedly chanted “must win general election” while delivering a toast during the ruling Saenuri Party lawmakers’ meeting earlier this week. Chong on Friday apologized for his remark and described it as a simple plea
PoliticsAug. 28, 2015
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[Weekender] Bitcoin designed to shake central bank-driven frame
A virtual currency is shifting the idea of a centralized, corporeal currency while debates -- with their pros and cons -- on its safety and efficacy matters are underway.Bitcoin is a digital currency that was created in 2009 by an individual or group called Satoshi Nakamoto, whose identity is still unknown.One of bitcoin’s biggest features is that it is decentralized -- not managed by typical monetary policymakers including central banks and finance ministries.Instead, it is managed by groups or
Aug. 28, 2015
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Sex trade businesses caught by police nearly triple in 2 years
The number of sex trade businesses caught by police in the past two years has nearly tripled, a report showed Friday, as authorities have led a crackdown against prostitution despite ongoing debate over whether to legalize the controversial industry. The overall number of businesses offering sex, gambling or similar services apprehended by police dropped to 48,121 last year from 51,652 in 2013 and 55,785 in 2012, the report submitted by the National Police Agency to New Politics Alliance for De
NationalAug. 28, 2015
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Hana Financial sees results in creative economy boost
Hana Financial Group is stepping up its efforts to help vitalize the nation’s creative economy.Group chairman Kim Jung-tai visited the Daejeon Creative Economy Innovation Center on Thursday and expressed his continued support for the creative economy and young job seekers.This is Kim’s third visit to the Daejeon Creative Economy Innovation Center, as he aims to encourage young start-up entrepreneurs and job seekers for roles in small and mid-sized tech companies.During the visit, Kim said that t
IndustryAug. 28, 2015
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LIG Nex1 rallies global investors for IPO
LIG Nex1, preparing to go public in September, is going on an overseas road show to bring in global investors, company officials said.According to investment bank insiders, LIG Nex1 executives, including CEO and vice chairman Lee Hyo-koo, along with officials from NH Investment and Securities, left for a tour early this week to Hong Kong and Singapore, in a move to promote marketing to attract local institutional investors for a successful initial public offering.LIG Nex1, the nation‘s leading d
IndustryAug. 28, 2015
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[Robert B. Reich] The upsurge in uncertain work
As Labor Day looms, more Americans than ever don’t know how much they’ll be earning next week or even tomorrow. This varied group includes independent contractors, temporary workers, the self-employed, part-timers, freelancers and free agents. Most file 1099s rather than W2s, for tax purposes. On demand and on call — in the “share” economy, the “gig” economy or, more prosaically, the “irregular” economy — the result is the same: no predictable earnings or hours. It’s the biggest change in the Am
ViewpointsAug. 28, 2015
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Int’l dance fest to offer melting pot of artistic culture
A performance by the Ballet Flamenco de Andalucia, who will take part in the upcoming 18th Seoul International Dance Festival starting Sept. 30 (Courtesy of Luis Castilla)Bringing the engaging sights and sounds of Spain, Turkey, Croatia, Palestine, Africa and more, the 18th annual Seoul International Dance Festival (SIDance) will be kicking off its festivities next month, offering dance-lovers a filling smorgasbord of contemporary dance performances to view from around the world. From traditiona
PerformanceAug. 28, 2015
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S. Korea opens first nuclear waste repository
South Korea dedicated part of its first nuclear waste repository in Gyeongju on Friday, which is expected to help the country better handle its spent radioactive materials.The first phase of the repository, which cost 1.54 trillion won ($1.31 billion), has six underground silos that can hold some 100,000 drums of low- and intermediate-level radioactive by-products from laboratories, hospitals and atomic power plants. Each drum can hold 200 liters of waste material, while the heavily reinforced s
Social AffairsAug. 28, 2015
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N. Korea-China ties changing 'in quality': S. Korean envoy
Relations between North Korea and China have changed markedly due to Pyongyang's refusal to denuclearize and repeated provocations, South Korea's top nuclear envoy said Friday.Hwang Joon-kook, special representative for Korean Peninsula peace and security affairs, cited China's attitude on the North in its recent military stand-off with the South."China won't side with North Korea over its provocative act," he said at a forum in Seoul to mark the 10th anniversary of the Sept. 19 Joint Statement.
Foreign AffairsAug. 28, 2015
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Samsung SDI to buy cell material biz from affiliate
Samsung SDI Co., the battery-making arm of South Korea's top conglomerate, Samsung Group, said Friday it will buy the cell material division of its chemical affiliate, in a move to bolster competitiveness in the sector. Samsung SDI will take over the cell material unit of Samsung Fine Chemicals Co. for 18.7 billion won ($15.9 million) on Sept. 16, the company said in a regulatory filing. Samsung SDI will acquire the research and development facility, patent rights, staffs and the 58 percent stak
CompaniesAug. 28, 2015
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Phone fraud offenders found guilty of creating crime syndicate
A group of criminals involved in telephone-based financial scams was found guilty for the first time of organizing and committing crimes as a crime syndicate. The Daegu District Court handed down a six-year jail term to a 28-year-old Lee, who held a managerial position in the group, convicting him of opening call centers in China and South Korea and systematically making random calls to South Korean citizens to swindle money.Two others, surnamed Moon and Won, were also given five years and four
Social AffairsAug. 28, 2015
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Opposition party seeks to impeach home affairs minister
The home affairs minister offered an apology Friday over a recent toast he made on the upcoming elections as the main opposition party is pushing to impeach him for it.Minister of Security and Public Administration Chong Jong-sup is under fire over a toast he led during a dinner with lawmakers of the ruling Saenuri Party earlier this week.Chong allegedly asked the participants to chant "victory at any cost" after he chanted "general elections."South Koreans are set to go to polls next April to e
PoliticsAug. 28, 2015
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S. Korea's Red Cross proposes talks with North on Sept. 7 for family reunions
South Korea's Red Cross on Friday proposed holding working-level talks with its North Korean counterpart on Sept. 7 to discuss the issue of reunions for families separated by the Korean War, a government official said.The Korean Red Cross proposed the two sides meet at its "House of Peace" in the village of Panmunjom inside the Demilitarized Zone that divides the Koreas, according to Unification Ministry spokesman Jeong Joon-hee.The South made the offer through a contact channel in Panmunjom at
North KoreaAug. 28, 2015
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UAE sovereign fund interested in buying stake in Woori Bank: official
The Abu Dhabi Investment Council has expressed its interest in buying a stake in state-run Woori Bank, which has been put up for sale, a government official said Friday.The Seoul government has been trying to sell its 51.04 percent stake in the bank since 2010 in a bid to retrieve public funds worth 13 trillion won ($11.3 billion) that were spent to bail it out following the Asian financial crisis in the late 1990s. Earlier this month, the Financial Services Commission, the country's financial r
Aug. 28, 2015
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N. Korea's Kim fires party officials
North Korean leader Kim Jong-un has dismissed some members of the ruling party's central military commission, state media reported Friday.The dismissals took place at an enlarged meeting of the Central Military Commission of the Workers' Party of Korea, according to the North's Korean Central News Agency. It did not say when the meeting was held, but the communist nation is known to often report events a day after they take place.The meeting "dismissed some members of the WPK Central Military Co
North KoreaAug. 28, 2015
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Lotte pushes to expand footing in India
Lotte, the country's fifth-largest conglomerate, is moving to tap into India as it accelerates its overseas expansion drive in an attempt to make up for feeble growth at home.The retail giant said Friday its chairman, Shin Dong-bin, held a meeting with Indian Prime Minister Narendra Modi, in New Delhi, to propose a plan to build railway shopping complexes in major Indian cities.The two discussed expanding Lotte's Indian investment as well as opening railway shopping complexes in New Delhi, Mumba
CompaniesAug. 28, 2015
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China respects N. Korean military's non-attendance at parade
China's Defense Ministry has said it respects the decision by North Korea not to send its military delegation to next week's huge military parade marking the end of World War II.North Korea, the only treaty ally of China, will send a top official, Choe Ryong-hae, to the Sept. 3 military parade, but no military delegation from the North will take part, according to Chinese officials. Asked about the non-attendance of the North Korean military delegation at the event, China's Defense Ministry spok
North KoreaAug. 28, 2015
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Gov't to spend 5.7 tln won for 5G, drones
South Korea plans to invest around 5.7 trillion won ($4.83 billion) over the next five years to help nurture the fifth-generation (5G) network, unmanned drones and other high-end technology.Under the plan, the Ministry of Science, ICT and Future Planning will allocate the budget in 19 industry areas."The government will spearhead investment on research projects, and improve rules and regulations to provide companies with more leeway in doing business," ICT Minister Choi Yang-hee said in a meetin
TechnologyAug. 28, 2015
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Hyundai, Kia suffer setback from Chinese rivals
Hyundai Motor Co., South Korea's top automaker, and its sister firm Kia Motors Corp. lagged far behind Chinese rivals in the world's No. 1 auto market during the first seven months of the year, industry data showed Friday.Hyundai Motor sold 564,389 units in the Chinese auto market in the January-July period, down 10.9 percent on-year, and Kia Motors suffered a 6.3 percent on-year drop in auto sales to 333,165 units in China over the cited period, according to the data.In July alone, Hyundai Moto
IndustryAug. 28, 2015