Most Popular
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Man arrested 16 years after murdering girlfriend, hiding body in cement
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[Online Predators] Online reviews of sex tourism in Southeast Asia proliferate
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Pikki Pikki dance: Korean cheerleader dance routine takes social media by storm
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Middle East’s big AI push lures Korean tech firms
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[Herald Review] 'Culinary Class Wars': fresh, creative survival show minus the drama
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[Exclusive] Democratic Party of Korea forms US election task force
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[Grace Kao] NewJeans fights Hybe for their survival
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NK nuclear test 'possible' around US election in Nov., says Yoon aide
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[News Focus] Ex-Moon aide slammed from both sides over remarks on leaving Koreas divided
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Seoul seeks to improve foreign nanny program after two abscond
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Mariners' Lee Dae-ho belts 12th homer of season
Lee Dae-ho of the Seattle Mariners has hit his 12th home run of the season against the Houston Astros.Lee belted a solo shot off the Astros starter Mike Fiers in the top of the fourth at Minute Maid Park in Houston on Wednesday (local time). It was part of the Mariners' four-run inning, cutting the deficit to 5-4.Lee, batting sixth and playing first base, also extended his hitting streak to six games.He is tied with Park Byung-ho of the Minnesota Twins for most home runs by a South Korean player
BaseballJuly 7, 2016
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Gov't to offer funds, tax benefits for VR industry
Korea announced a package of measures Thursday to foster its virtual reality industry, which includes direct financial support and tax incentives.The government will create 40 billion won ($34.5 million) of special funds, 20 billion won this year and the rest in 2017, for small and medium-sized firms immersed in developing VR gear and content.The VR sector will be added to the list of "new industries" eligible for tax credits of up to 30 percent for research and development projects.The decision
July 7, 2016
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Korea to foster halal industry to draw Muslim tourists
Korea will step up efforts to increase certified halal foods and restaurants to enhance convenience for a growing number of Muslim tourists from the Middle East and Southeast Asian nations, the government said Thursday.Halal food refers to food products that are prepared in a specific way according to Islamic Sharia law, which covers not only meat but also fruits and vegetables.YonhapThe Ministry of Culture, Sports and Tourism unveiled a set of measures to foster the halal food industry and enha
Social AffairsJuly 7, 2016
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Gov't to promote private investments in newly emerging industries
The government on Thursday announced a fresh set of measures, deregulations and tax rewards to stimulate private investments in newly emerging industries, such as pet care services and halal food and culture.In a pan-government trade and investment promotion meeting chaired by President Park Geun-hye, relevant ministries unveiled new policy efforts to encourage the private sector to invest approximately 4 trillion won ($3.4 billion) in the promising industries."The government has been making eff
July 7, 2016
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N. Korea earnings through illegal cyber acts hovers at 1 tln won: expert
North Korea earns nearly 1 trillion won ($863.9 million) every year from illegal activities in cyber space including the operation of gambling sites, a South Korean researcher said Thursday. "Through operations in cyber gambling units, and development and sales of gambling programs, North Korea brings in an income of about 1 trillion won annually," Yoo Dong-ryol, the head of Korea Institute of Liberal Democracy said in a forum on cyber security hosted by the military's Defense Security Command.T
North KoreaJuly 7, 2016
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Park hosts meeting on trade, investment promotion
President Park Geun-hye on Thursday held a meeting with business leaders and economy-related government officials to discuss ways to shore up trade and investment, her office Cheong Wa Dae said.During the meeting, the 10th of its kind, Park urged efforts to create new items that can be traded and make "pre-emptive moves" to boost investment, so as to better cope with growing uncertainties in the global economy."For us to secure new growth engines and lead the global market, it is important to be
PoliticsJuly 7, 2016
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Supermarket chains slow in growth recovery
Leading super supermarkets are expected to report blunted growth in June, going against expectations of a big pickup from last year, when the nationwide scare from a respiratory disease cramped sales, according to industry sources Thursday.Although not official, all three major supermarket chains -- Lotte Mart, E-Mart and Homeplus -- are estimated to have suffered either negative or miniscule at best growth in June compared with the same month last year.Sources at Lotte Mart put June's growth at
July 7, 2016
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CJ Group chief undergoes surgery to remove lung tumor
The head of CJ Group, one of Korea's largest food and entertainment conglomerates, has undergone surgery to remove a tumor from his lung, a company official said Thursday.Sohn Kyung-shik is recovering at Seoul National University Hospital in central Seoul after receiving the surgery on Tuesday, the official said, adding that he is not in serious condition.President Park Geun-hye speaks during a meeting on trade and investment at her office Cheong Wa Dae on July 7, 2016. (Yonhap)Sohn is the uncle
Social AffairsJuly 7, 2016
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Samsung Electronics sells 26 million Galaxy S7 phones
[THE INVESTOR] Samsung Electronics, which forecast its best quarterly profit in more than two years, is estimated to have sold about 26 million units of its flagship smartphone Galaxy S7 that was launched in March. In its second-quarter earnings guidance announced on July 7, the Korean tech giant said it posted an operating profit of 8.1 trillion won (US$7 billion) while its sales would come in at 50 trillion won. Even though the company didn’t break down earnings of individual business division
Latest NewsJuly 7, 2016
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Hyundai Rotem’s trains decommissioned over suspension defect in US
[THE INVESTOR] Trains produced by Hyundai Rotem have been decommissioned in the US over defects in the suspension. Hyundai Rotem is subsidiary of Hyundai Motor Group that specializes in railroad vehicles and defense equipment. According to the company on July 7, 120 trains supplied to Southeastern Pennsylvania Transportation Authority were decommissioned on July 1 following the discovery of problems in suspension parts. The trains were supplied to SEPTA in a US$ 270 million contract signed in 20
IndustryJuly 7, 2016
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Trade agency urges enhance energy cooperation with Mongolia
Korea and Mongolia must work to enhance their economic cooperation, especially in the energy and natural resources sector, to help ensure the countries' joint development, a trade promotion agency said Thursday.In a report, the Korea Trade-Investment Promotion Agency or KOTRA insisted now was the right time for South Korea to boost its investment in the East Asian country as Mongolia is increasingly opening up its energy market in the face of a prolonged slump."Mongolia is a high-risk market tha
July 7, 2016
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Korea projected to grab 10 gold medals at Rio Olympics
Korea has been projected by a U.S. sports data analysis firm to win 10 gold medals for a ninth-place finish at this year's Rio de Janeiro Summer Olympics.Gracenote, based in Emeryville, California, said Korea will win 10 gold, five silver and 10 bronze medals in its latest Virtual Medal Table. In its previous update on June 7, Gracenote projected 11 gold, five silver and eight bronze for Korea.Korea has set out to capture at least 10 gold medals in Rio to finish in the top 10 in the medals for t
SportsJuly 7, 2016
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Higher fines for accounting fraud
[THE INVESTOR] South Korean companies committing accounting fraud will face much heavier fines in the future, the top financial regulator said on July 7. The Financial Services Commission noted that related regulations have been changed to enable the authorities to levy much higher fines that the current 2 billion won (US$ 1.7 million). FSC chief Lim Jong-ryong/ The InvestorUntil now, a company proven to have committed accounting fraud was fined once regardless of the duration of fraudulent acti
IndustryJuly 7, 2016
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NPS selects 7 firms for venture fund
[THE INVESTOR] South Korea’s National Pension Service has named seven private equity firms to run 200 billion won (US$172 million) of its funds, the pension giant said on July 7. The NPS, which oversees $430 billion in assets, hired Aju IB Investment and KTB Network as general manager of the venture fund. Five others including Medici Investment, Seoul Investment Partners, Wonik Investment Partners, Innopolis Partners and G.N.Tech Venture Capital were named as preliminary mangers. National Pensio
July 7, 2016