Most Popular
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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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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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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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[Robert Fouser] Why the US election looks so close
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[Weekender] Smartwatch war is in full swing
A battle for the wrist is heating up as major tech giants and even luxury good makers have dipped their toes in the smartwatch market.In less than half a year since the debut of its first wearable Apple Watch, California-based Apple has dethroned Samsung Electronics from the top spot in the global smartwatch industry.Samsung Electronics` Samsung Gear S. (Samsung)Apple reportedly received 7 million orders in total for the Apple Watch, 4 million of which were shipped in the April-June period, whil
TechnologyJuly 31, 2015
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Restructuring boosts KT’s profits
South Korea’s leading mobile carrier KT swung back to profit in the second quarter thanks mainly to restructuring efforts it has made since last year.The wireless carrier said in its regulatory filing that it posted 5.43 trillion won ($4.65 billion) in revenue and 36.9 billion won in operating profit. The quarterly revenue decreased from 5.63 trillion won in the second quarter last year, but the operating profit increased significantly from an operating loss of 83.8 billion won.The headquarters
TechnologyJuly 31, 2015
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Korean firms win $5.3b order for Mideast’s largest refinery
South Korean builders said Friday that they won deals worth $5.3 billion to build an oil refinery in Kuwait even as the construction industry is struggling with a sharp drop in orders from the Middle East this year.The project, worth $14 billion in total, is to build the biggest refinery in the Middle East, which will boost its oil refining output capacity of 615,000 barrels per day in the region of Al Zour, south Kuwait. Of the five packages split from the main project, four were awarded to con
IndustryJuly 31, 2015
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[Hans Blix] It’s time to ban the bomb
The nuclear agreement between Iran, the five permanent members of the United Nations Security Council plus Germany, and the EU, comes at a historically propitious moment. Seventy years ago next month, the nuclear bombs dropped on Hiroshima and Nagasaki opened the darkest chapter in the long history of humanity’s wartime horrors. Fire, bullets, and bayonets were now joined by nuclear radiation – a silent, invisible killer like gas and biological agents. After World War I, the international commun
ViewpointsJuly 31, 2015
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Hankook Tire Q2 profit dips 20% on currency woes
South Korea's top tire manufacturer Hankook Tire Co. said Friday that its second-quarter operating income plunged 20 percent on-year, dragged down by unfavorable currency rates. Operating profit stood at 201.1 billion won ($171.9 million) in the April-June period, compared with 251.2 billion won a year earlier, the company said in a regulatory filing. Sales backtracked 2.5 percent to 1.6 trillion won over the cited period. Net profit figures were not disclosed. Shares of Hankook Tire closed at 4
IndustryJuly 31, 2015
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Two fired Ssangyong workers head for India to rally support
Two former workers of Ssangyong Motor Co. left for India on Friday to rally international support for their reinstatement from the country where the automaker's owner group is located, industry sources said Friday.Ssangyong Motor cut over 2,000 jobs in 2009 through a voluntary retirement program after it was put under court receivership in the aftermath of the 2008 global financial crisis. About 180 workers were also fired, many of whom filed a lawsuit against the automaker, demanding they be re
IndustryJuly 31, 2015
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NCsoft Q2 net gains 9.3 pct on strong online sales
NCsoft Corp., one of South Korea's leading online game makers, said Friday its second-quarter net profit advanced 9.3 percent from a year earlier on increased sales from its key online games.Net profit came to 57.8 billion won ($49.4 million) on a consolidated basis in the January-March period, compared with the 52.9 billion won a year earlier, the company said in a regulatory filing.Sales moved up 1.74 percent on-year to reach 217.53 billion won in the second quarter, and operating profit also
IndustryJuly 31, 2015
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DYB Education eyes China and Vietnam markets
DYB Education Group' chief executive Song Oh-hyunDYB Education Group, a major language institute in Daechi-dong, southern Seoul, is seeking to enter English education markets in China and Vietnam.The group said Thursday that it is conducting a feasibility study before deciding when to set up its operations in the two countries. Its decision to expand abroad with the DYB English education system came after a survey of China’s Yanbian University professors on the system had shown positive results.
Social AffairsJuly 31, 2015
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Park to return to work next week after vacation
President Park Geun-hye is set to return to work next week after a short vacation inside Cheong Wa Dae, the presidential office and residence, an official said Friday.It marked the second straight year that she has spent her summer vacation at the official residence, which could be causing her to stay on the job during the five-day break."I always think a day is too short, but this summer, time passes by even faster," Park wrote in her first Facebook post in over five months. "I have been spendi
PoliticsJuly 31, 2015
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Eurasia Express train ends journey in Berlin
An inter-continental express train meant to promote peace and unity across Eurasia arrived in Berlin Thursday, the final destination of its 14,400-kilometer journey.On board were 206 participants selected from various backgrounds and professions, who had left Seoul on July 14 to take part in the 17-day rail journey across six countries, including China, Russia and Poland.The Eurasia Express was conceived by the Park Geun-hye administration as part of its ambitious "Eurasia Initiative," which aim
InternationalJuly 31, 2015
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Navy to pay compensation for delayed naval base project on Jeju
The Navy has been ordered to pay 27.3 billion won ($23.2 million) in compensation to a construction company after environmental protests delayed a project to build a naval base on Jeju Island, the defense procurement agency said Friday.Environmental and village protesters had staged massive rallies against the naval project on the southern resort island of Jeju, leading to a major delay in construction.In efforts to solidify naval defense near the island, the Navy devised the plan in 2007 to bui
Social AffairsJuly 31, 2015
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KT swings to black in Q2 on lower costs
KT Corp., South Korea's second-largest mobile carrier, said Friday it swung to a profit in the second quarter from a year earlier on reduced costs and a one-off gain from asset sales.It booked 321.8 billion won ($274.9 million) in net income for the April-June period, a turnaround from a net loss of 757.2 billion won the previous year, the company said in a regulatory filing. The figure, however, missed the median estimate of 421.7 billion won in a poll by Yonhap Infomax, the financial news arm
IndustryJuly 31, 2015
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N. Korea claims Korean-Canadian pastor confessed to 'subversive plots' against it
A Korean-Canadian pastor arrested in North Korea has confessed to "subversive plots" against the communist nation during a news conference Thursday, Pyongyang's official news agency said.The Rev. Lim Hyeon-soo (Rim Hyon-su), 60, of Light Korean Presbyterian Church near Toronto was detained after entering the North via China on a humanitarian mission in late January.Pyongyang's Korean Central News Agency accused him of acting as "a servant of the U.S. imperialists and South Korean puppet group.""
North KoreaJuly 31, 2015
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U.N. chief vows to help improve inter-Korean relations
U.N. Secretary-General Ban Ki-moon said Thursday that he is willing to play any role in improving strained inter-Korean relations.Ban made the remark during a meeting with Rep. Kim Moo-sung, chairman of South Korea's ruling Saenuri Party, held at the United Nations headquarters in New York."I am willing to play any role in contributing to bringing North Korea back to dialogue and improving the South-North relations," Ban said. In May, North Korea called off Ban's visit to an inter-Korean industr
InternationalJuly 31, 2015
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China, Russia to conduct joint military drills in East Sea
China and Russia will launch joint military drills next month in the East Sea, the water between the Korean Peninsula and Japan, China's defense ministry said Friday. The joint drills, set for Aug. 20-28, come as China and Russia have deepened their cooperation in the military and security fields. The planned military exercises are "to further enhance their capabilities of jointly coping with maritime security threats," Chinese defense ministry spokesman Yang Yujun said in a statement posted on
InternationalJuly 31, 2015
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SK to kick off new holding firm
South Korea's third-largest conglomerate SK Group said Friday its new holding firm will officially kick off this weekend as part of efforts to streamline its governance structure and solidify the owner's control.The new entity, formed through a merger between information technology service provider SK C&C Co. and SK Holdings Ltd., will set sail on Saturday, and have assets of 13.2 trillion won ($11.2 billion) and a 4,100 workforce. The merger was approved by shareholders in June.Although the sha
IndustryJuly 31, 2015
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Regional powers to meet over N. Korea's nuclear program
Deputy nuclear envoys from South Korea, the U.S. and Japan were to meet in Tokyo Friday to coordinate their next steps in getting North Korea to give up its nuclear weapons program.The trilateral meeting comes after a series of bilateral meetings between the member nations of the six-party talks, which also involve China and Russia.Kim Gunn, director-general for North Korean nuclear affairs at South Korea's Foreign Ministry, will meet with his U.S. and Japanese counterparts, Sydney Seiler and Sh
InternationalJuly 31, 2015
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U.S. says sexual slavery victims were trafficked by Japan's military
The United States said Thursday victims of Japan's wartime sexual slavery were trafficked by the country's military in a rebuttal of a Japanese ruling party committee's claim that they were never coerced.The State Department issued the comment, calling the atrocity "a terrible, egregious violation of human rights" and urging Japan to handle the issue and other historical matters in a way that strengthens relations with neighboring nations."As the United States has stated many times, the traffick
InternationalJuly 31, 2015
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Samsung poised to debut mobile payment system in Europe
South Korea's top tech giant Samsung Electronics Co. plans to roll out its mobile payment system in the European market in the near future, industry sources said Friday, speeding up its efforts to outpace rivals.Samsung recently agreed with MasterCard Inc. to lay the groundwork for Samsung Pay's debut in the European market, the source said, adding the two sides agreed to start the service in the region as early as by the end of this year.Samsung plans to secure 17 million users of its payment s
IndustryJuly 31, 2015
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S. Korean industrial output rebounds in June
South Korea's industrial output rose for the first time in four months in June mainly due to greater demand for refined petroleum and machinery equipment products, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries gained 2.3 percent last month from May. The increase marks a rebound after three straight months of minus growth and is the sharpest growth since February when numbers also hit 2.3 perc
IndustryJuly 31, 2015