Most Popular
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Ex-presidential official’s leaked phone call rattles conservative bloc
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Slew of top K-pop stars ready to return from military
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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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Controversial cult leader’s sentence reduced to 17 years
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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Samsung, Hyundai chiefs to accompany Yoon on Singapore trip
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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BTS-themed moon jar to be unveiled on Hangeul Day
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[Robert Fouser] Why the US election looks so close
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Lotte group shares seesaw on succession feud concerns
Shares of Lotte Group units have been fluctuating amid a succession feud between brothers as investors fidget over the family-run conglomerate's murky governance structure and management risks, market watchers said Tuesday. While core affiliates briefly enjoyed a rally on speculation that the founder's two sons would increase their stakes to take control of the retail giant, the unfolding drama rather has highlighted risks related to investing in the companies largely shrouded in secrecy. Seoul-
Aug. 4, 2015
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Hanwha Q Cells to provide solar modules to Japan
Hanwha Q Cells Co., the world's leading solar cell maker, said Tuesday it will team up with Japanese trading company Marubeni Corp. to build a solar power plant in Japan's nuclear-hit Fukushima area. Hanwha Q Cells signed a deal with Marubeni to provide 190,000 solar modules to build the 52.5-megawatt solar power plant in Fukushima prefecture by June 2017. The plant will be built on one of the most severely affected regions of the 2011 tsunami and subsequent nuclear disaster to provide much-nee
TechnologyAug. 4, 2015
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Chinese consortium picked for ferry recovery
A consortium led by a Chinese firm was named the successful bidder to recover the South Korean ferry that sank last year, along with the remains of people still missing from the tragic accident, on Tuesday.An official contract was signed between the Ministry of Oceans and Fisheries and the consortium led by China's state-run Shanghai Salvage, according to the South Korean ministry.The Chinese consortium was named the preferred bidder among seven consortia last month.The Sewol sank off the countr
Social AffairsAug. 4, 2015
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Medical doctor named new health minister
President Park Geun-hye on Tuesday afternoon sacked Health Minister Moon Hyung-pyo and named medical professional Chung Chin-youb apparently to move on from the Middle East respiratory syndrome outbreak and seek a new momentum for her reform drive.Park also replaced her senior secretary on welfare, overhauling the health care team largely criticized for lax management of the unprecedented MERS spread earlier this summer.Chung, 60, an orthopedics professor at Seoul National University Hospital, w
PoliticsAug. 4, 2015
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Court orders for KakaoTalk user data drop sharply in H1
The number of warrants issued by courts to confiscate user data from South Korea's top mobile messenger declined sharply in the first half of this year, a report showed Tuesday, following criticism of covert cyber surveillance by law enforcement authorities.Daum Kakao Corp., the operator of KakaoTalk, received 1,449 court orders in the January-June period to submit users' private information to the prosecution for investigative purposes, down 32 percent from the previous year, the company said i
TechnologyAug. 4, 2015
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Korea to mark eve of 70th Liberation Day with gala concert
A large-scale pop concert will be held in Seoul on the eve of the 70th anniversary of Korea's liberation from the 1910-45 Japanese colonial rule, the government said Tuesday.The concert will take place in Seoul Plaza, central Seoul, at 7:30 p.m. on Aug. 14, the eve of Korean Liberation Day, said the Ministry of Culture, Sports and Tourism.The event will commemorate the people's journey through 70 years of turbulent modern history and drum up festivity for the anniversary, it said."This event wil
CultureAug. 4, 2015
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The robotics Cambrian explosion
Recently, the news is full of stories about HUBO’s first-place victory at the 2015 DARPA Challenge, a contest in which the world’s most advanced robots compete for a $2 million prize. HUBO’s victory was a win not only for Korea’s robotics endeavors, but also for the advancement of robotics around the world. Robotics and artificial intelligence technologies represent the start of an era in which humanity will make its greatest advancements. AI and robotics will merge within the decade, giving ris
ViewpointsAug. 4, 2015
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Antitrust watchdog fines 17 builders for bid rigging
South Korea's antitrust watchdog slapped a combined 32.9 billion won ($28.1 million) fine on 17 local builders Tuesday for rigging bids for large public infrastructure projects.According to the Fair Trade Commission, the companies worked together to fix costs on five projects that prevented open competition and broke the country's fair trade rules.The FTC handed out 12.99 billion won in fines to Daelim Industrial Co., POSCO E&C and Samwhan Corp., which rigged the 2008 bidding for a section of ex
Social AffairsAug. 4, 2015
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6 Air Force fighters depart for Alaska to join U.S. air drill
Six South Korean fighter jets departed for Alaska on Tuesday to join a U.S.-led air defense drill designed to beef up joint combat capacity, the Air Force said.The six F-16Ds were to arrive at Eielson Air Force Base, Alaska, later in the day to join the Red Flag Alaska exercise, which will kick off Aug. 10 for a 12-day run, the Air Force said in a statement.A total of 103 South Korean forces, including 32 combat pilots, will join the joint combat training exercise, commanded by the U.S. Pacific
DefenseAug. 4, 2015
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Aug. 14 declared holiday
The government has decided to designate Aug. 14 an extra public holiday and offer free access to state-run museums and palaces on the weekend when South Korea celebrates’ the 70th anniversary of the nation’s liberation from Japan’s 1910-45 colonial rule. President Park Geun-hye speaks at a Cabinet meeting on Tuesday. (Yonhap)The decision was made during a Cabinet meeting presided over by President Park Geun-hye on Tuesday, as part of efforts to boost the public’s sense of national pride and also
PoliticsAug. 4, 2015
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Gov't decides to designate temporary holiday for liberation celebrations
The government decided to designate the day before next week's National Liberation Day as a temporary holiday, an official said Tuesday, in the latest efforts to boost domestic consumption hit hard by the MERS outbreak.The move comes as South Korea is trying to drum up a festive mood for Liberation Day, a major holiday in both South and North Korea.This year's anniversary, which falls on Aug. 15, holds significance as it marks the 70th anniversary of Korea's independence from Japan's 1910-45 col
Social AffairsAug. 4, 2015
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S. Korea reports no additional MERS cases for 30th
South Korea reported no additional cases of Middle East Respiratory Syndrome for the 30th consecutive day on Tuesday, with the number of people diagnosed with the disease remaining flat at 186.The country's death toll from the disease also remained fixed at 36 as the country reported no additional fatalities for the past 24 days.Out of the 186 people diagnosed so far, 138 have been discharged from hospitals following complete recoveries.The remaining 12 are still hospitalized, but 11 of them hav
Social AffairsAug. 4, 2015
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2 soldiers wounded in suspected mine explosion at DMZ
Two Army staff sergeants were seriously wounded in what is believed to be a landmine explosion in the heavily fortified demilitarized zone, the military said Tuesday.The explosion took place on the southern side of the DMZ in the city of Paju, Gyeonggi Province, at 7:40 a.m. while the two sergeants carried out a search mission there, according to the military.(Yonhap)The explosion nearly severed the soldiers' legs and they were rushed to a military hospital for treatment, the military said, addi
DefenseAug. 4, 2015
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S. Korea's air traffic drops in July on MERS impact
South Korea's air traffic slipped in July from a year ago due mainly to a plunge in international passengers amid concern over the Middle East Respiratory Syndrome outbreak, industry data showed Tuesday.The number of air passengers reached 6.81 million last month, down 6.5 percent from the 7.29 million posted the year before, according to the data.Domestic air traffic rose 5.3 percent on-year to 2.28 million last month, but the number of international passengers came to 4.54 million, down 15 per
IndustryAug. 4, 2015
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Ruling party lawmaker summoned over alleged sexual assault
A ruling party lawmaker has been summoned for questioning over a sexual assault allegation, police said Tuesday.Rep. Sim Hag-bong of the ruling Saenuri Party is suspected of sexually assaulting a woman in her 40s at a hotel in Daegu, a major city in North Gyeongsang Province, on July 13. The woman accused Sim of raping her, but later said there was no coercion.According to the Daegu Metropolitan Police Agency, Sim denied that he tried to persuade the woman to change her statement.The 54-year-old
Aug. 4, 2015
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[Graphic News] Korea sees current account surplus for 40th consecutive month
South Korea posted a surplus in its current account for the 40th consecutive month, data from the Bank of Korea showed Monday.The surplus was estimated at $12.9 billion in June, a 41.5 percent increase from the previous month.In the first half of 2015, the surplus was the highest recorded for the January-June period, at $52.3 billion.Experts, however, noted that the recent current account surplus is due to a higher rate of decline in imports as compared to exports.
IndustryAug. 4, 2015
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S. Korea's consumer prices grow less than 1% for 8th straight month in July
South Korea's consumer prices grew less than 1 percent for the eighth month in a row in July, a government report showed Tuesday, as Asia's fourth-largest economy grapples with deflation concerns.The country's consumer price index inched up 0.7 percent last month from a year earlier, the report by Statistics Korea showed. The latest number remains unchanged from 0.7 percent on-year growth tallied in June."Weak international crude prices are continuing to influence overall consumer inflation," sa
Aug. 4, 2015
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White House cites Korea's carbon emission cut pledge as sign of growing international momentum
The White House on Monday cited South Korea's commitment to cut greenhouse gas emissions as an example that shows international momentum is building on the cause, as President Barack Obama announced a deeper carbon emissions reduction pledge."We also saw significant commitment in just the last month or so from South Korea, and that's an indication that there is building momentum toward the climate talks in Paris," White House press secretary Josh Earnest said at a briefing, referring to a U.N. c
Aug. 4, 2015
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U.S. says intelligence activities are for national security needs amid spying allegations against Japan
The United States said Monday its intelligence activities are aimed at meeting its national security needs as well as those of its allies and partners after allegations surfaced that it spied on Japanese officials and firms.The whistleblower Wikileaks on Friday disclosed what it claimed was a National Security Agency list of 35 Japanese targets of wiretapping, including the Japanese Cabinet office, Bank of Japan officials, the Finance and Trade Ministry as well as such companies as Mitsubishi an
Foreign AffairsAug. 4, 2015
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Hyundai Oilbank promotes shared growth
SHARED GROWTH -- Seosan City mayor Lee Wan-seop (fourth from left) and Hyundai Oilbank staffers release a total of 150,000 baby rockfish into the sea near Samgilpo Port in South Chungcheong Province in the refiner’s effort to support the local fisheries industry. (Hyundai Oilbank)
IndustryAug. 4, 2015