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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Slew of top K-pop stars ready to return from military
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[Reporter’s Notebook] Was Netflix film opening BIFF really a bad thing?
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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N. Korean leader's sister derides Seoul's Hyunmoo-5 missile as 'useless'
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Vice FM postpones Pakistan visit amid inter-Korean tensions
Vice Foreign Minister Cho Tae-yong has postponed his visit to Pakistan this week due to the ongoing political crisis with North Korea, the Foreign Ministry said Monday.Cho, who was scheduled to leave for Islamabad Monday, called his Pakistani counterpart, Aizaz Ahmad Chaudhry, to explain why he has postponed the trip, saying he will reschedule it for a mutually convenient time within the year, the ministry said in a text message to reporters.The officials had been scheduled to meet Tuesday for t
Foreign AffairsAug. 24, 2015
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USFK helicopter crash-lands after tail rotor failure
A U.S. Army helicopter crash-landed here Monday, due to a failure in the tail rotor, but the accident involved no major casualties, authorities said.A helicopter for the 24th Division of the U.S. Army made an emergency landing on a hillside in Asan, South Chungcheong Province, at around 11:40 a.m. with the two pilots showing no outward sign of injury.When the rescue team arrived, the pilots, both of whom work for the U.S. Army, were waiting outside the aircraft for the rescue helicopter from U.S
DefenseAug. 24, 2015
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Rainstorms in forecast as powerful typhoon nears S. Korea
Heavy rainstorms are forecast for the southern part of South Korea Monday as Typhoon Goni heads toward the Korean Peninsula, weather officials said. The typhoon, packing winds of up to 49 meters per second, is expected to reach about 430 kilometers southeast of Seogwipo, Jeju Island, by around 9 p.m. Monday, according to the Korea Meteorological Administration.It will then likely position itself in waters 80 kilometers southeast of Pohang, North Gyeongsang Province, and weaken, according to the
Social AffairsAug. 24, 2015
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Hana Financial names new CEO of KEB Hana Bank
Hana Financial Group Inc., South Korea's third-largest banking group, said Monday that it nominated a retail banking expert as the first president of its new integrated bank unit set to be launched next week.The move came after the financial regulator gave its final nod for the integration of Hana Financial's two bank units, Hana Bank and Korea Exchange Bank, last week. The integrated bank, named KEB Hana Bank, is scheduled to set sail on Sept. 1.Ham Young-joo, a vice president of Hana Bank, was
CompaniesAug. 24, 2015
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China reinforcing military presence on border with N.K.: reports
China may be beefing up its military presence near its border with North Korea, South Korean broadcaster KBS reported Saturday. (KBS)The report showed footage of a convoy of armored vehicles and trucks passing through the streets of Yanji, Jilin Province in northeastern China.The news report said that Chinese military units passing through the city center is highly unusual, and that the unusual scene has sparked speculations that Beijing may be strengthening its military presence in preparation
North KoreaAug. 24, 2015
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S. Korea, U.S. mulling timing of B-52 strategic bomber deployment to Korea
South Korea and the United States appear to be in discussion over the timing of a U.S. B-52 strategic bomber and a nuclear-armed submarine's deployment to South Korea, the Defense Ministry said Monday."Keeping close tabs on the crisis situation on the Korean Peninsula, South Korea and the U.S. are flexibly reviewing the timing of the deployment of strategic U.S. military assets,"Defense Ministry spokesman Kim Min-seok said in a regular briefing.He did not pinpoint the kind of U.S. assets under c
DefenseAug. 24, 2015
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Market rout deepens in Asia as stocks slide to a two-year low
Stocks plunged across Asia and U.S. index futures signaled more losses as the selloff in commodities deepened, sending South Africa’s currency toward its biggest drop in two years. The cost of insuring Asian debt jumped with the yen.All major Asian markets opened lower after U.S. stocks capped their biggest two-day retreat in almost four years Friday. Chinese equities plunged, while Japan’s Topix index closed in on a correction. The yen advanced with the euro amid speculation the global selloff
World BusinessAug. 24, 2015
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Park says N.K. threat cannot faze Seoul’s demand for mine blast apology
President Park Geun-hye on Monday urged North Korea to apologize over its recent mine attack amid rare high-level talks currently underway, stressing that it is necessary to defuse inter-Korean military tension and to prevent additional provocation by Pyongyang.(Yonhap)At a meeting with her senior secretaries at Cheong Wa Dae, the president also said Seoul would keep its propaganda broadcasts and take responsive actions if Pyongyang refuses to apologize.“I believe this is not a matter to step ba
PoliticsAug. 24, 2015
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Koreas’ talks stretch out for 19 hours
The inter-Korean talks that resumed on Sunday afternoon continued for 19 straight hours as of 10:30 a.m. Monday, as the two sides locked horns over North Korea’s Aug. 4 land mine attack and South Korea’s propaganda broadcasts.The two sides met again at South Korea’s House of Peace in the border village of Panmunjeom on 3:30 p.m., hours after the first round of negotiations adjourned. People watch a news report on the resumed inter-Korean talks at Seoul Station in downtown Seoul, Sunday. (Yonhap
North KoreaAug. 24, 2015
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Highway toll to Incheon Airport to be lowered from next month
The highway toll between Seoul and Incheon International Airport, the main gateway to South Korea, will be lowered by over 10 percent from the start of next month, the government said Monday.Starting next Tuesday, the toll for a one-way trip to the airport or the capital will be lowered to 6,600 won ($5.50) from the current 7,600 won for mid-sized vehicles, including most passenger cars, according to the Ministry of Land, Infrastructure and Transport.The one-way toll for both large and oversized
Social AffairsAug. 24, 2015
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Foreigners' card spending slows down in H1
Foreigners' credit card spending in South Korea slowed down in the first six months of this year, industry data showed Monday, apparently hit by the outbreak of Middle East Respiratory Syndrome.Foreigners purchased a total of 5.4 trillion won ($4.5 billion) with plastic in South Korea during the January-June period, up 11.6 percent from a year earlier, according to the data compiled by Shinhan Card Co.The on-year gain lost steam from a 40 percent annual jump last year.Shinhan Card attributed the
Aug. 24, 2015
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N. Korea slams S. Korea amid high-level talks
North Korea lashed out at South Korea Monday, blaming it for high tensions on the Korean Peninsula as marathon talks aimed at defusing the situation continued for a third day.The Rodong Sinmun, the official newspaper of the North's ruling Workers' Party, claimed in an editorial that the South drove the political situation on the peninsula to dangerous levels under a deliberate plan with the U.S. to invade the communist country, according to the North's Korean Central News Agency.In a separate ed
North KoreaAug. 24, 2015
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Won hits new 4-year low vs dollar on N.K., slowdown woes
The South Korean won continued to lose ground against the U.S. dollar for a second straight session Monday to reach a five-year low, amid reduced appetites for risky assets stemming from increased geopolitical risks and global economic uncertainties.The local currency closed at 1,199.00 to the greenback, down 4 won, or 0.33 percent, from the previous session's close, marking the lowest level in almost five years.Right after the market opened, the local currency briefly dipped below the psycholog
Aug. 24, 2015
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Lotte most active player in S. Korean M&A market
Lotte Group, South Korea's fifth-largest conglomerate, was the most active among local business groups in using mergers and acquisitions to diversify its business over the past five years, data showed Monday. Among 592 companies affiliated with the nation's top 10 business groups, 98 firms, or 16.6 percent, have been added through M&As since 2010, according to Chaebul.com, a website that tracks the nation's large enterprises. The number of newly acquired companies increased from 5 in 2013 to 14
Aug. 24, 2015
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Taiwan-based Yuanta acquires S. Korean savings bank
Taiwan-based Yuanta Financial Holdings Co. said Monday that it has acquired a South Korean savings bank in a bid to expand its footprint in Asia's fourth-largest economy.The company said on its homepage that its flagship Yuanta Bank "acquired 100% of the ordinary shares of Hanshin Savings Bank in Korea for 135.1 billion won ($112.9 million).""Through this acquisition, Yuanta Bank will expand its overseas business in the North East Asia region and become more competitive," the statement said.Hans
Aug. 24, 2015
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Hyundai, Kia models named top picks for teens in U.S.
Three cars made by South Korea's No. 1 automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. have been chosen among the top picks for first-time drivers in the United States, a car review website said Monday. Kia's box-style compact Soul was named the best new car under $20,000 for young drivers purchasing their first vehicle in the world's No. 2 car market, according to U.S. website Cars.com. "The Soul is an affordable choice for young hipsters wanting form, function, safety an
MobilityAug. 24, 2015
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N. Korea forward deploys amphibious landing crafts carrying special forces
North Korea has deployed amphibious landing crafts to the frontline as the country keeps up its tight combat readiness despite on-going inter-Korean talks to defuse military tension, military sources said Monday.About 10 North Korean air-cushioned landing crafts have left their home base in Cholsan, North Pyongan Province, and come forward to the Goampo naval base, located about 60 kilometers north of the Northern Limit Line in the Yellow Sea, the de facto inter-Korean sea border, the sources sa
North KoreaAug. 24, 2015
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Parliament to hold confirmation hearing on health minister nominee
The National Assembly will hold a confirmation hearing Monday for President Park Geun-hye's new pick for health minister.Chung Chin-youb, a professor at Seoul National University hospital in Bundang, just south of Seoul, has been named to lead the Ministry of Health and Welfare.The nominee is required to go through the confirmation hearing, though the National Assembly's approval is not necessary for his appointment.Opposition lawmakers are expected to grill the orthopedics professor over his mo
PoliticsAug. 24, 2015
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Corporate direct financing drops in July
The sales of stocks and bonds by South Korean companies fell 5.2 percent in July from a month earlier as they scaled back on selling debt, the financial watchdog said Monday.Local businesses raised a combined 14.16 trillion won ($11.9 billion) last month by selling stocks and bonds, compared with 14.95 trillion won a month ago, according to the Financial Supervisory Service.For the first seven months of the year, corporate direct financing gained 15 percent on-year to 79.9 trillion won from the
Aug. 24, 2015
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Suspension of S. Korea-U.S. exercise could raise doubts about U.S. commitment: expert
Last week's temporary suspension of the U.S.-South Korea joint military exercise in the face of North Korean threats could raise questions about Washington's commitment to the defense of the Asian ally, a U.S. expert said.Dennis Halpin, a visiting scholar at the Johns Hopkins University's U.S.-Korea Institute, made the point in an article to the Weekly Standard magazine on Aug. 21, 2015, saying the suspension was akin to the 1992 cancellation of the then joint exercise Team Spirit."An even momen
DefenseAug. 24, 2015